Amitabh Kumar's term at VSNL as Director Operations ends

In a communication issued to BSE Videsh Sanchar Nigam Ltd has said that the tenure of Shri Amitabh Kumar Director (Operations) has come to an end on June 03, 2001.

Mascot Systems announces SEI CMM Level 4 Achievement

Mascot Systems Ltd today (June 5, 2001) announced that it had been assessed at Level 4 of the Capability Maturity Model (CMM) of the Software Engineering Institute (SEI). SEI evaluates software processes for development, reengineering and Maintenance across enterprises, and assesses them at levels from 1 to 5.Certification at higher maturity levels verifies the Company's ability to provide efficient solutions on time and within budget, in accordance with a predictable process. "Mascot has exhibited a thorough understanding of the Level 4 Key Process Areas - Quantitative Process Management and Software Quality Management. Mascot has developed one of the finest quality frameworks that can be leveraged to deliver high quality solutions." said Srinivas Thummapalli, SEI-authorised Lead Assessor from KPMG. Mr Thummalapalli observed that Mascot should work towards productising its proprietary Quality Management Systems (QMS) and obtain Intellectual Proprietary rights for it. "With our unique Quality Management Systems and inherent strengths such as the SmartAPPS enabled quality framework, SEI CMM level 4 Assessment is an affirmation of our strong quality process. Mascot is geared to achieve SEI CMM Level 5 in early 2002, " said Shekar Sivasubramanian, Chief Operating Officer, Mascot Systems Mascot follows the Open Envelope Metrics Methodology (OEM) which helps achieve organizational goals through continuous process improvements based on international standards, business needs, an understanding of the process capability baseline and by setting objective targets for process improvements and measuring and controlling process elements.

Jaiprakash Inds FY-01 results on June 12, 2001

A meeting of the Board of Directors of Jaiprakash Industries Ltd is scheduled to be held on June 12, 2001 to consider the audited financial results of the Company for the year ended March 31, 2001.

TTK Prestige launches various Domestic Electrical Appliances

In a communication to the BSE, TTK Prestige has informed that the Company is entering into a high growth phase. The Company, apart from consolidating existing strengths, is all set to unleash itself in newer product categories and markets that it had not ventured into before. The vision of the company is 'To make TTK Prestige the No. 1 small Appliance Company in India through 'CUSTOMER CENTRIC INNOVATION' While all new products will focus on customer centric innovations, the vision of being the No. 1 company in small appliances will mean entry into electrical appliances, which form a sizeable portion of the kitchen appliances market. In addition to this, gas stove and other technology-driven convenience products, along with the traditional pressure cooker and non-stick cookware businesses will mark the presence of Prestige in a Rs 30000 million market. With customer benefit being the focus of all products launches, the brand will see its entry into all new categories marked with products that are not only highly differentiated from the competition but also boast unique features that have been designed keeping the consumer's convenience in mind. The Company has made a strategic investment in Softel machines Ltd which is expected to be a dedicated design, development and manufacturing arm of TTK Prestige Ltd. In the first phase of launch, the Company launched four electrical appliances today (June 5, 2001) namely Prestige Marathon Mixer Grinder, Prestige Swift Handymix, Prestige Juices, Prestige Fizzee and Fun Drink Maker. The Company is thus moving forward with consumer satisfaction being the end goal of all innovations implemented. Now all the consumer has to do is to get ready to be delighted by the smart moves from a smaller Prestige.

Hughes Tele.com announces launch of telecommunication services at Kolhapur

Hughes Tele.com (India) Ltd today (June 5, 2001) announced that it has commercially launched its telecommunication services at Kolhapur with 900 pre-installed customers. Currently, fixed wireless (WiLL) are available and eventually fibre based broadband wireline services will also become available. This is the 8th city where Hughes Tele.com's services are available in the Maharashtra Telecom Circle (MTC), the existing 7 cities are - Mumbai, Navi Mumbai, Pune, Panjim, Nasik, Nagpur and Ahmednagar.

Ranbaxy Lab and Ventura to collaborate on novel oral controlled release systems

Ranbaxy Laboratories Netherlands B.V, a wholly owned subsidiary of Ranbaxy Laboratories Ltd and Vectura Ltd (Ventura) a world leader in the application of particle science for the development of novel drug delivery systems today (June 5, 2001) announced a collaboration to develop a novel cost effective patent protected oral controlled release technology with potential application for a broad range of pharmaceuticals compounds. While Ranbaxy will utilize its expertise in clinical development and scale up as well as its manufacturing and international marketing capability, Vectura will be contributing its proprietary intellectual property and innovative drug delivery solutions in the area of controlled release systems to the collaboration. The costs of the initial feasibility program will be shared equally by the parties, with Vectura earning royalties on any products developed and commercialized by Ranbaxy utilising the new technology. The technology has the potential to release a once daily dose of drug throughout the whole gastrointestinal tract and is being developed with an aim of providing unique release modulation suitable for both low and high dose drugs. Oral controlled release medicines developed using this new technology provide the potential to improve patient compliance through enhanced convenience reduced dosing and minimised incidence of side effects. Commenting on the collaboration, Mr D.S Brar CEO & Managing Director Ranabxy Laboratories Ltd said Our global licensing and business development initiative has been focussing on exploring licensing opportunities with a view to strengthening Ranbaxy's presence in its key markets through an expanded product basket & innovative value added dosage forms. Our arrangements with Vectura will fortify our presence in this segment and pave the way for future collaborations."

Dr. Reddy's Lab extends date of termination of GDS Program

Dr. Reddy's Laboratories Ltd has informed BSE that the Company is terminating its GDS facility on July 8, 2001 and not on June 6, 2001 as previously announced. The company has extended the date in order to permit the payment of a newly declared dividend to the GDS holders prior to the termination of the GDS facility. The Company issued 4,301,076 GDSs representing 4,301,076 equity shares of the Company, par value RS.10 ("Shares"), in a private placement in 1994 pursuant to Regulation S and Rule 144A under the Securities Act of 1933 (the " Securities Act"). The GDSs are listed on the Luxembourg Stock Exchange and each GDS represents one share. As of March 31, 2001, there were 1,789,285 GDSs outstanding representing 1,789,285 shares. All the GDSs issued in 1994 and the shares underlying them may not be freely resold without restrictions under the Securities Act. Once the facility is terminated, the Shares underlying the GDSs will be deposited in Dr. Reddy's American Depositary Share ("ADS") facility with Morgan Guaranty Trust Company of New York as depositary ( "the Depositary"). Fees to registered holders of GDSs related to the GDS facility and subsequent deposit of the underlying shares into the ADS facility will be waived by the Depositary. GDS holders who wish to hold their withdrawn shares in the form of ADSs need take no action. They will receive notification with respect to their holdings of ADSs once the termination and deposit is completed, which is now expected to be July 8, 2001. Each ADS under the ADS facility represents one half of one Share. If 1,789,285 shares are all deposited into the ADS facility, there will be 3,578,570 ADSs issued. Dr. Reddy's ADSs are listed on the New York Stock Exchange, and began trading on April 11, 2001.

TV 18 MD purchases 5000 Shares of the Company

Television Eighteen India Ltd. has informed BSE that Mr. Raghav Bahl, Managing Director of the Company has purchased 5,000 equity shares of TV 18 through the market.

Carrier Aircon Board Meeting to consider FY-01 results deferred to June 26, 2001

Carrier Aircon Ltd. has informed BSE that the Board of Directors of the Company which met today (June 6, 2001) to consider and adopt the Audited Financial Results for the Financial Year ended March 31, 2001, after deliberations on the audited accounts, has sought further details and information on the accounts from the management which were felt necessary and important for the purpose of approving the Audited Accounts. In view of this, the Audited Accounts for the period March 31, 2001 was not adopted by the Board at this meeting and hence decided to meet again on June 26, 2001 for the purpose of adoption of accounts and recommended dividend, if any, to its shareholders.

Infosys, American Express, Tibco Software & Westbridge Capital to announce Joint Venture

In a communication to the BSE, Infosys Technologies Ltd has stated that the Company is to announce a joint venture with American Express, Tibco Software & Westbbridge Capital. The new partnership is expected to create new company offering online business solutions. Further details in this regard will be made available only at the time of the press release which is scheduled to be issued later (11.30 pm IST (2.00 pm EDT) today (June 5, 2001)

Tata Elxsi Q4 net up by 8.84%, FY-01 net up by 106.77%

Tata Elxsi Ltd has posted a net profit of Rs 56.19 million for the quarter ended March 31, 2001 as against Rs 51.62 million for the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 411.58 million as compared to Rs 412.45 million in the quarter ended March 31, 2000. Net Profit for the year ended March 31, 2001 is at Rs 138.64 million as compared to Rs 67.05 million for the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 1379.01 million as against Rs 1242.34 million for FY-00. Dividend@ 25% for 2000-01 has been declared by the Board of Directors.

Silverline Tech consolidates India Offshore Development Facilities and Realigns Client Project Work with Centers

Silverline Technologies Ltd today (June 5, 2001) announced that it has consolidated its Indian offshore development operations into three software development centers in Chennai. Hyderabad and Mumbai. At the same time, Silverline is aligning client project work, so that all work for a specific client-from design to implementation to support for eBusiness, enterprise or legacy systems-is managed from a singly center. This is part of Silverline's worldwide initiative to complete the integration of SeraNova into Silverline and improve the Company's responsiveness and accountability to each client. As an element of the consolidation, the former SeraNova development center in Bangalore has been closed and project work transferred to the other Silverline offshore centers in India. In many cases, the Silverline developers assigned to projects will transfer, with the client work, to the designated center. The Bangalore facility, opened in May 2000, was part of SeraNova's Indian delivery infrastructure and represented less than 3% of the total Silverline strength of 2600 employees. In addition, the former SeraNova development center in Chennai has been consolidated into the Silverline center in the same city. Shankar Iyer, CEO of Silverline Technologies said, " Silverline is the first Indian offshore services firm to grow by acquisition, a key aspect of which is gaining efficiencies from consolidated operations. Decisions to close operations are a part of the acquisition process and are difficult for any Company to make. However, by consolidating operations into our three main centers and aligning them with our clients, we realize economies of scale and position ourselves to better manage the quality and cost of delivery operations."

India Cements FY-01 results on June 26, 2001

A meeting of the Board of Directors of India Cements Ltd is scheduled to be held on June 26, 2001 to consider the following : 1. The audited financial results for the quarter and year ended March 31, 2001. 2. Dividend on the preference and equity shares for 2000-01. 3. Dates of book closure for the payment of Dividend. 4. The date of holding the Annual General Meeting.

Morgan Stanley declares 10% dividend

The Board of Trustees of Morgan Stanely Mutual Fund at its meeting held on June 04, 2001 has declared a dividend of 10% (Re 1 per unit) to the unitholders of Morgan Stanley Growth Fund. The dividend would be paid within 30 days to all unitholders who are registered in the Register of Unitholders as on June 11, 2001.

Bright Star Investments revises VST Industries open offer price to Rs 151 per share

Ask Raymond James & Associates Ltd. has informed BSE that, Bright Star Investment Ltd. has revised the Open Offer price of VST Industries Ltd. to Rs.151 per share and offer will be for 4,632,576 shares representing 30% of the outstanding equity capital of the Company. Bright Star Investments had earlier made an offer to acquire 3,088,384 equity shares representing 20% of the share capital of the Company at a price of Rs 112 per equity share.

Ashok Leyland and ZF Friedrichshafen extend co-operation

Ashok Leyland Ltd, today (June 5, 2001) has announced the signing of an agreement with ZF Friedrichshafen AG (ZG) of Germany, for licensed manufacture in India of ZF's 6 S850 six-speed synchromesh gearbox. The gearbox, proposed to be manufactured by Ashok Leyland at its Bhandara (Maharashtra) Plant, is a state-of-the-art transmission designed for medium and heavy duty commercial vehicle application, to permit both the higher torque output demanded of drive lines evolving in India, as well as higher reliability and durability. ZF is the world's largest independent specialist in transmission technology for all types of vehicles and the agreement marks a milestone in making up-to-date technology available to commercial vehicle users in India. ZF has in its Commercial Vehicle & Special Transmissions Division, 10 manufacturing locations spread around the world, with 8,300 employees and sales of Euro 1.6 billion in 2000. "Improving commercial vehicle emission standards for exhaust gas and noise while achieving improved safety and comfort with reliable and economical operation has become increasingly important", says Mr R Seshasayee, Managing Director, Ashok Leyaland. "We have pioneered innovations and new designs to stay ahead and exceed customer expectations."

Pfizer H1 results on June 30, 2001

A meeting of the Board of Directors of Pfizer Ltd is scheduled to be held on June 30, 2001 to take on record the unaudited financial results for the half-year ended May 31, 2001.

Bharat Forge fixes Book Closure for the purpose of Dividend

Bharat Forge Ltd has informed BSE that the Register of Members and Share Transfer Books of the Company will remain closed from July 10, 2001 to July 21, 2001 (both days inclusive) for the purpose of determining entitlement to dividend @ 30% for the year ended on March 31, 2001 which the Board of Directors had recommended after consideration of Accounts at their meeting held on June 02, 2001.

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