ICICI Bank raises Rs 2270 million by way of Debentures

ICICI Bank Ltd has announced today (July 23, 2001) that the Bank has successfully closed its private placement of subordinated Tier II bonds on July 20, 2001.The issue has received an overwhelming response from investors, mobilising Rs 2270 million against the targeted issue size of Rs 2000 million. The bonds are rated LAAA by ICRS and carry a coupon of 9.75% p.a payable annually for a tenure of 69 months. This is the lowest rate received by any bank for subordinated Tier II bonds till date. ICICI Securities and Finance Company Ltd was the Book Running Lead Arranger, DSP Merrill Lynch Limited, ABN Securities (India) Private Ltd, Citibank and J M Morgan Stanley were joint arrangers to the issue.

Pentamedia Graphics Q1 net up by 35.39%

Pentamedia Graphics Ltd has reported a net profit of Rs 417.40 million for the quarter ended June 30, 2001 as against Rs 308.30 million for the corresponding period last fiscal. Net Sales and Services for the quarter ended June 30, 2001 is at Rs 1580.90 million as against Rs 1144.90 million for the quarter ended June 30, 2000, a rise of 38.08%. Other Income is at Rs 31.10 million in JQ 2001 as against Rs 41 million in JQ 2000. Animation, Special Effects, Web Entertainment and other Multimedia Services have contributed approximately 55%, 15%, 10% and 20% of the revenue respectively.

Mindteck Board to consider allotment of shares on preferential basis

A meeting of the Board of Directors of Mindteck (India) Ltd is scheduled to be held on July 30, 2001 to consider and approve the allotment of 2.85 million equity shares of Rs 10 each at a premium of Rs 90 per share to the shareholders of Infotech Holdings Inc, on a preferential basis. The aforesaid meeting will also consider and take on record the Financial Results of the Company for the year ended June 30, 2001.

Asian Paints Q1 net up by 14.39%, Net Sales up by 9.70%

Asian Paints (India) Ltd has posted a net profit of Rs 212.20 million for the quarter ended June 30, 2001 as against Rs 185.50 million for the quarter ended June 30, 2000. Net Sales for the quarter ended June 30, 2001 is at Rs 2738.10 million as against Rs 2495.90 million in the quarter ended June 30, 2000. Other Income for the quarter ended June 30, 2001 is at Rs 53 million as against Rs 30.30 million in JQ 2000. Net Sales and Total expenditure include inter-division transfers of finished goods as per the Company's accounting policy. Net sales also include the processing charges received/receivable from the joint venture unit, Asian PPG Industries Ltd.

Escorts Q1 net down by 62.62%

Escorts Ltd has posted a net profit of Rs 332.30 million for the quarter ended June 30, 2001 as against Rs 889 million for the corresponding period last fiscal. Total Income has fallen from Rs 3776.80 million in JQ 2000 to Rs 3024.30 million in JQ 2001. Other income during quarter ended 30th June, 2000 includes Rs 1051.20 million on account of profit on sale of 24% equity holding in Yamaha Motors Escorts Ltd and during quarter ended 30th June, 2001 Rs 522.5 million on account of profit on sale of balance 26% equity holding in Yamaha Motors Escorts Limited.

PSI Data Systems posts Rs 48.04 million as net loss in Q2

PSI Data Systems Ltd has posted a net loss of Rs 48.04 million for the quarter ended June 30, 2001 as against a net profit of Rs 43.42 million for the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 224.89 million as against Rs 207.84 million in JQ 2000. The Company has reported that the Expected growth in the US and Indian segment did not materialise owing to prevailing economic conditions. Under utilisation of software development facilities/resources and fresh investments made in setting up new sales teams resulted in erosion in margins. Provision for taxation amounted to Rs 2.63 million and bad debts written off amounted to Rs 22.86 million during the quarter ended June 30, 2001. The Company is taking steps to further revamp the Sales and Business Development activities in the US to tackle the situation arising out of the downturn in the business prospectus. PSI is also expanding operations in Europe to de-risk the slow down in the US business. The most recent develpment at PSI is the acquisition by the Aditya Birla Group company, Indian Rayon and Industries Ltd of the total 50.35% stake from Groupe Bull in an all cash deal. Mr. Nagendra Venkaswamy, Managing Director, PSI Data Systems said, "We are positive about the partnership with the Aditya Birla Group, as this is a step forward in the direction of growth for the company". The Aditya Birla Group with its vast resouce pool and global outlook will be of tremendous support in helping PSI with its growth plans. It is significant to note that Grupe Bull has agreed to maintain its business relationship with PSI.

Dr.Reddy's Laboratories-American Remedies merger completed

Dr. Reddy's Laboratories Ltd has announced today (July 23, 2001) that the merger of Dr. Reddy's Laboratoratories Ltd and American Remedies Ltd ("ARL") has been completed with retrospective effect from April 1, 1999. The Honorable High Courts of Chennai and Andhra Pradesh have approved the scheme of merger. Earlier at separate meetings held on March 6, 1999, the Board of Directors of Dr. Reddy's Laboratories and American Remedies Ltd had approved the proposed scheme of merger. The directors had set the swap ratio at 1:12, that is one share of Dr.Reddy's for twelve shares of ARL. The shareholders of Dr.Reddy's approved the merger in a AP High Court directed meeting held on May 31, 1999 and the shareholders of ARL approved the merger in a separate meeting directed by the Chennai High Court on July 15, 2000. The Marketing and sales team of ARL and Dr. Reddy's have been integrated in the current financial year. The combined team has been divisionalised 4 operational groups: Xenura, Recura, Acqura and Natura. Each group focuses on specific therapeutic areas. This structure will quicken time-to-market and bring a sharper focus on branding and attaining leadership in select therapeutic areas. The brand portfolios of Dr. Reddy's and ARL strongly complement each other. Seven brands of Dr. Reddy's - Omez, Nise, Stamlo, Ciprolet, Enam, StamoBeta and Reclide - figure among the top 300 brands in India as per ORG (2001). The main brands of ARL are Mucolite, Antoxid, BioE, Becozine, GLA 120, Gris OD and Optisulin.

Bombay Dyeing posts net loss of Rs 91.90 million in Q1

Bombay Dyeing & Manufacturing Company Ltd has posted a net loss of Rs 91.90 million for the quarter ended June 30, 2001 as against a net loss of Rs 50.31 million for the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 2204.30 million as against Rs 2156 million for the quarter ended June 30, 2000. Extra-ordinary items amounting to Rs 16.70 million being Voluntary Retirement Compensation has been incurred during the quarter ended June 30, 2001. (Rs 12.40 million in JQ 2000)

DSQ Software cancels acquisition of Fortuna Technologies

DSQ Software Ltd has informed BSE that the Company has received an order from Securities and Exchange Board of India dated July 20, 2001 as set out hereunder:- 1. DSQ cancels the acquisition of Fortuna Technologies done on swap basis after following the procedure laid down under the Companies Act. 2. DSQ is prohibited from accessing capital market for a period of one year or completion of investigation and action thereupon whichever is later. 3. Mr. Dinesh Dalmia is debarred from dealing in securities for a period of one year or completion of investigation and action thereupon whichever is later. The Board of Directors of the Company met on July 20, 2001 and July 21, 2001 and has decided to cancel the acquisition of Fortuna Technologies after complying with legal requirements.

Tata Elxsi Q1 net up by 16.39%

Tata Elxsi Ltd has posted a net profit of Rs 15.74 million for the quarter ended June 30, 2001 as against Rs 13.52 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 280.91 million as against Rs 290.14 million in the quarter ended June 30, 2000.

KLG Systel Q2 net down by 61.04%

KLG Systel Ltd has posted a net profit of Rs 6.01 million for the quarter ended June 30, 2001 as against Rs 15.42 million for the quarter ended June 30, 2000. Total Income is at Rs 34.96 million in JQ 2001 as against Rs 46.74 million in JQ 2000. The company has obtained approval of Dubai Internet City to establish branch office of the Company at Dubai market its services in the Middle East.

Polaris Software Q1 net up by 40.96%

Polaris Software Lab Ltd has posted a net profit of Rs 155.54 million for the quarter ended June 30, 2001 as against Rs 110.34 million posted in the same period last year. Net Sales from Operations have grown by 34.90%, from Rs 519.37 million in JQ 2000 to Rs 700.65 million in JQ 2001. Other Income for the quarter ended June 30, 2001 is at Rs 12.71 million as against Rs 8.66 million in the quarter ended June 30, 2000. Revenues for this quarter from the geographies stood as US/North America 47.91%, Europe 21.20% and Asia Pacific & MEA 22.4% with balance 8.49% from the domestic. The development of the state of the art facility, "Polaris Towers" at Gurgoan is well under-way and would further strengthen the presence of Polaris in North India. The Polaris Towers is being built to house 700 associates with a built up area of 90,000 square feet and is expected to be complete in the third quarter of fiscal 2002. The new organisation design (moving from the traditional SBU structure to the vibrant SRDU/SPU structure) will position Polaris to move from the Tier II organisations, which it currently leads from the front, to a Tier I organisation. "Our next challenge is to strengthen our Mainframe competencies which will arm us to provide end-to-end solutions for our BFSI clients" pointed out Govind Singhal, Executive Director.

Cadila Healthcare Q1 net up by 33.88%

Cadila Healthcare Ltd has posted a net profit of Rs 191.78 million for the quarter ended June 30, 2001 as compared to Rs 143.25 million in the corresponding period last fiscal. Total Income has increased from Rs 1333.08 million in JQ 2000 to Rs 1441.76 million in the quarter ended June 30, 2001. Effective from June 2001, the business of Pathline division of the company has been spun off to its wholly owned subsidiary, Zydus Agrovet Ltd, which has been renamed as Zydus Pathline Ltd.

Operations suspended at Sesa Goa's Codli and Sonshi Mines

Sesa Goa Ltd has informed BSE that the Company has been forced to suspend operations at its Codi and Sonshi Mines in Goa. The operations at these mines remain suspended at this point of time. This is on account of the illegal strike observed by the employees of the Company, which has cultimated in the attack by the unionized employees on the Company's General Manager - Mining. The Company has also reported that all other units including its subsidiary pig iron and core making business are operating normally.

Wimco Board to consider allotment of Redeemable Cumulative Preference shares

A meeting of the Board of Directors of Wimco Ltd is scheduled to be held on July 31, 2001 to consider the allotment and issue of 0.70 million 0.5% Redeemable Cumulative Preference Shares of Rs 100 each for cash at par to Svenska Tandsticksbolaget Forsaljningsaktiebolag, a subsidiary of Swedish March AB, Sweden. The aforesaid meeting will also consider and take on record the unaudited financial results for the first quarter ended June 30, 2001.

Kodak India Q2 results on July 30, 2001

A meeting of the Board of Directors of Kodak India Ltd is scheduled to be held on July 30, 2001 to consider and take on record the un-audited financial results for the second quarter ended June 30, 2001.

Mukta Arts clarifies on news item

With reference to the news article appearing in a leading financial daily titled "Mukta to produce TV software, plans channel" Mukta Arts Ltd has informed BSE that the launching of the general entertainment Hindu Satellite Channel by Mukta Arts Ltd as claimed in the above mentioned news item has been misquoted by the press. The Company has further clarified that the Company does not currently have any plans in this regard.

Hitech Drilling Board to consider merger with Aban Loyd

A meeting of the Board of Directors of Hitech Drilling Services India Ltd is scheduled to be held on July 25, 2001 to consider the merger of the Company with Aban Loyd Chiles Offshore Ltd.

BSE shifts additional 5 scrips on trade to trade basis

BSE has informed the members of the exchange that the following scrips are shifted on Trade to Trade basis with effect from today (July 23, 2001). It had earlier informed the members regarding shifting of the following scrips on Trade to Trade basis. Code Scrip Name 32403 Fourth Generation Information Systems ltd. 32015 Gravity (India) Ltd. 31739 Prudential Pharmaceutical Ltd. 31637 Sword & Shield Pharma Ltd. 26707 Toubro Infotech & Industries Ltd. In view of the above, members are hereby informed that the unrectified claims in respect of the above scrips will be directly closed out as per the close-out procedure of the Bad Delivery Cell.

BSE shifts 7 scrips on trade to trade basis

BSE has informed the members of exchange that with effect from today (July 23, 2001), i.e., Settlement No. 18/2001- 02, the following additional scrips will also be transferred for trading and settlement on trade to trade basis until further notice. No trading will be allowed in Rolling Segment i.e., 5 lakh series, of the under mentioned scrips until further notice: Code Scrip Name 32417 E.STAR INFOTECH LTD 31939 GENIUS COMMU TRADE LTD 23049 RINKI PETROCHEMICALS & INDUSTRIES LTD 11525 SRG INFOTECH LTD 17540 NEXUS SOFTWARE LTD 31905 ACCURATE EXPORTS LTD 9079 GUFIC BIO SCIENCES LTD The delivery of shares for the trades done in two scrips, viz., Prudential Pharmaceutical Ltd. and Gufic Bio Sciences Ltd. can be made in physical or in demat form as the same are not in compulsory demat mode. However, the members are required to deliver the shares in market lot if the shares are delivered in physical form. Members are requested to take adequate precautions, as the settlement will be done on a trade to trade basis and no netting off positions, will be allowed.

BSE revises Special Margin on 57 scrips

BSE has informed the members of the exchange that the following scrips which are at present under Special Margins will attract Special Margins as indicated hereunder with effect from today (July 23, 2001). The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last day of the settlement. CODE NAME GROUP SP.MGR(%) 512599 ADANI EXPORTS A 25 32335 AMBICA AGARBATT B1 25 7525 AMRIT BANASPATI B2 25 31632 AVINASH INFOTEC B2 25 32382 BALAJI TELEFILM B1 25 32377 BATHINA TECHNOL B1 25 6285 BAYER INDIA B1 25 32419 D LINK INDIA B1 25 24170 DSQ BIOTECH B2 50 523864 DSQ SOFTWARE A 25 32417 E.STAR INFOTECH B2 25 26624 ELBEE SERVICES B1 25 4008 EMCO B1 25 32403 FOURTH GENERATI B2 50 31939 GENIUS COMM TRA B2 25 32015 GRAVITY INDIA B1 25 9079 GUFIC BIO SCIEN B2 25 31984 GUJARAT FISCON B2 25 523477 GUJARAT GAS A 50 523886 HINDUSTAN INKS B1 25 193 HOTEL LEELA B1 25 530005 INDIA CEMENTS A 25 32175 INOTECH ENTERPR B1 25 11116 INVEST TRUST B1 25 500888 JAIPRAKASH INDS A 25 24330 JAYANT AGRO B1 25 31892 KHANDWALA SECUR B1 25 532148 KOLAR INFOTECH B1 25 23411 KRONE COMMUNICA B1 25 500260 MADRAS CEMENTS A 25 12267 MEDIA MATRIX B2 25 32127 MOBILE TELE B2 25 32407 MOSCHIP SEMI B2 25 6954 MOTORALA SPEC B2 25 32350 PADMALAYA TELE B1 25 32387 PRITISH NANDY B1 25 31739 PRUDENTIAL PHAR B2 50 7300 RAVALGAON B1 25 24632 RELISH PHARMA B2 25 23049 RINKI PETROCHEM B2 25 26089 ROOFIT INDUSTRY B1 50 13583 S B T INTERNAT B1 25 32118 SAI INFO SERVIC B2 25 26521 SANGHI INDUSTRI B2 25 32274 SOFFIA SOFTWARE B2 25 8976 SPANCO TELESYST B2 25 12299 STERLING BIOTEC B1 25 12640 STOCK NET INTER B1 25 32211 SUN EARTH CERA B1 50 532359 SUNBEAM INFOWAY B2 25 31945 SUNITEE CHEM B2 25 31637 SWORD & SHIELD B2 25 26506 SYSTAMATIX C B2 25 31830 TODAY'S WRITING B2 25 31554 TOP CASSETTES B1 25 26707 TOUBRO INFOTECH B2 25 32411 VISESH INFOSYST B1 25

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