Mphasis BFL shareholders approve Chrysalis investment

The Shareholders of Mphasis BFL Ltd have today (July 14, 2001) at the Extraordinary General Meeting, approved Chrysalis' Investment of Rs 450 million in the Company. This investment at Rs 350 per share represents a dilution of approximately 7% and was earlier accepted by the Board of Mphasis BFL at its meeting on June 15, 2001 and recommended to the Shareholders for approval. The offer price represents a premium of approximately 75% over current levels and of approximately 12% over the prescribed SEBI minimum formulae. As reported earlier Mr. Ashish Dhawan of Chrysalis has joined the Mphasis BFL Board of June 15, 2001.

Pentasoft establishes first-of-its-kind IT academy in Bahrain

Pentasoft Technlogies Ltd has joined hands with TAIB Bank, a public company listed on the Bahrain Stock Exchange to establish an IT Academy in Bahrain. The Academy will provide for a national IT literacy program, in close association with the Government of Bahrain. Pentasoft shall be the technology partner of the Bank for design, development and conducting of courses at the Academy through technology transfer. The courses would be customized to the requirements of Bahrain and shall reflect the Ministry of Education and the Ministry of Information Technology initiatives. TAIB Bank will invest USD 400,000 in the next six months in the Academy towards infrastructure costs. Headquartered in Bahrain, TAIB Bank has a worldwide network of 8 offices in 6 countries, including India. Besides conventional training methods, courses will be taught through Computer Based Tutorials and web based interactive learning techniques. "This partnership is part of an intense initiative from Pentasoft in expanding its International Learning Services (ILS) segment, " Mr. Kannan said. "Pentasoft plans to establish over 75 more training centers in Africa, Latin America, The United States, Europe and Africa by the end of the current financial year. We have already opened our own centres in key areas like Singapore, Malaysia, United Kingdom, USA and Mauritius, to form the support hub for the proposed centers." he reiterated.

Century Textiles Q1 results on July 26, 2001

A meeting of the Board of Directors of Century Textiles and Industries Ltd is scheduled to be held on July 26, 2001 to consider and take on record the Unaudited Financial Results of the Company for the first quarter ended June 30, 2001.

Vijaya Bank Q1 net profit up by 32.73%

Vijaya Bank has posted a net profit of Rs 263.60 million for the quarter ended June 30, 2001 as against Rs 198.60 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 4010.60 million as against Rs 3685.40 million for the corresponding period last fiscal. The Bank has reported that the working results for the quarter ended June 30, 2001 have been arrived after considering provision for NPAs, Income Tax, Wealth Tax, etc on an estimated basis.

Mphasis BFL Q1 net up by 212.56%

Mphasis BFL Ltd has reported a net profit of Rs 74.10 million for the quarter ended June 30, 2001 as compared to Rs 23.71 million for the quarter ended June 30, 2000. Income from software development and projects has increased from Rs 395.72 million in JQ 2000 to Rs 422.16 million in the corresponding quarter last year. Other Income has declined from Rs 9.93 million in the quarter ended June 30, 2000 to Rs 9.143 million for JQ 2001. The Company has reported that the Other Income of Rs 9.143 million for the quarter ended June 30, 2001 includes net foreign exchange gain of Rs 4.788 million.

Sesa Goa Q1 result date advanced to July 25, 2001

Sesa Goa Ltd has informed BSE that the meeting of the Board of Directors of the Company will be held on July 25, 2001 instead of July 31, 2001 for taking on record the Unaudited Financial Results of the Company for the quarter ended June 30, 2001.

BSE imposes AVM on 19 scrips

BSE has informed the Members of the Exchange that Additional Volatility Margin (AVM) has been imposed on the following scrips for the settlement No. 017/2001-2002 commencing on July 16,2001. THe AVM would be computed on the net outstanding Purchase or Sales position as may be applicable including carryforward positions at the end of day at the rate given below.The rate of AVM would be remain unchanged for the entire settlement. CODE NAME OF THE COMPANY GROUP AVM(%) 30715 Alps Industries Ltd. B1 10.00 31632 Avinash Information Technologies Ltd. B2 10.00 32382 Balaji Telefilms Ltd. B1 10.00 6285 Bayer (India) Ltd B1 10.00 1469 Boston Education and Software Technologies ltd B2 10.00 32324 Cinevista Communications Ltd. B1 10.00 26785 Crest Communications Ltd. B1 10.00 26624 Elbee Services Ltd. B1 10.00 32312 Geometric Software Solutions Co.Ltd. B1 10.00 32015 Gravity (India) Ltd. B1 10.00 24330 Jayant Agro-Organics Limited. B1 10.00 5280 John Fowler (India) Ltd., B2 10.00 31167 Orient Information Technology Ltd. B1 10.00 31739 Prudential Pharmaceuticals Ltd. B2 25.00 7300 Ravalgaon Sugar Farm Ltd., B1 10.00 12299 Sterling Biotech Ltd. B1 15.00 12640 Stocknet International Ltd. B1 15.00 31637 Sword & Shield Pharma Ltd. B2 10.00 32375 Tips Industries Ltd. B1 10.00