NIIT Regional Multimedia Development Centre launched in Malaysia

NIIT Ltd today (May 15, 2001) launched its Regional Multimedia Software Development Centre in Cyberjaya in Malaysia. The state of the art centre, which will develop multimedia-based software for the rest of the Asia Pacific region, was inaugurated by India's Minister for Information Technology, Mr. Pramod Mahajan. Mr. Mahajan is in Malaysia as part of the Indian trade delegation led by the Prime Minister of India, Mr. Atal Bihari Vajpayee. "NIIT has contributed aggressively towards the IT success of India. It has contributed to building an IT society that the country is proud of. By choosing Malaysia, NIIT has expanded India's IT capabilities to this part of the region and has moved beyond application software areas into educational multimedia as well as preparation of scarce computer software skilled personnel," said Mr. Mahajan. The Opening of the Centre comes in the wake of NIIT's movement of its Asia Pacific headquarters to Cyberjaya, which will oversee the multimedia centre's operations. NIIT was among the first 20 companies worldwide to be awarded the MSC status and also holds the distinction of being the first Indian Company to become a member of the Founders' Council of MSC.

Perfect Circle Victor FY-01 net down by 30.41%

Perfect Circle Victor Ltd has reported a net profit of Rs 46.90 million in the year ended March 31, 2001 as compared to Rs 67.40 million in the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 843 million as compared to Rs 805.40 million in the year ended March 31, 2000. The Board of Directors has recommended a Dividend of 50% i.e Rs 5 per equity share.

Crisil rates first partially guaranteed issue in the telecom sector

Credit Rating Information Services of India Ltd (CRISIL) has awarded a "AA+" rating to the proposed Rs 2.65 billion Structured Debt Obligation issue of Bharti Mobile Ltd. The rating is based on the credit enhancement provided through cash collateral, part guarantee by Bharti Televentures Ltd and a Partial Guarentee by the International Finance Corporation, Washington and supported by a structured payment mechanism to facilitate timely payment of debt obligations. The proposed Rs 2.65 billion issue has a tenure of 10 years comprising semi-annual interest and principal repayments, with the principal repayments commencing at the end of the sixth period (3rd year) from the date of issue. There are a total of 20 payment periods during the tenure of the bond.

BP and Castrol UK to approach Mumbai HC in relation to Castrol Open Offer

BP and Castrol UK have decided to approach the High Court in Mumbai against the decision of Securities Appellate Tribunal, on April 27, 2001 upholding SEBI's order directing Castrol UK to revise the Offer Price to approximately Rs 350 per share on the ground that the relevant date for determining the Offer Price is March 14, 2000 and not July 07, 2000. Castrol UK and BP had earlier contested the aforesaid order before the Securities Appellate Tribunal. Consequent to this decision by BP and Castrol UK, the schedule and the terms and conditions of the offer can only be communicated to the shareholders of Castrol India Ltd by the Companies after resolution of this issue. The aforesaid Public Announcement has been issued by JM Morgan Stanley Private Ltd on behalf of Castrol Ltd and BP p.l.c.

Infosys allocates shares under ESOS scheme

Infosys Technologies Ltd has informed BSE that the Board of Directors of the Company today (May 15, 2001) allocated to employees who joined the Company between April 09, 2001 to May 07, 2001 on a sign on basis and regular basis, an aggregate of 3,61,400 stock options-exercisable for equity shares of par value Rs 5 per share to the Company's 1999 Option Plan and an aggregate of 35,000 ADS linked stock option excercisable for ADSs pursuant to the Company's 1998 Option Plan.

Hikal FY-01 net up by 5.03%

Hikal Ltd has posted a net profit of Rs 181.40 million in the year ended March 31, 2001as compared to Rs 172.70 million in the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 1045.9 million as against Rs 1028.1 million in the same period last fiscal. The Board of Directors of the Company has recommended a Dividend of 50% i.e Rs 5 per share for the year ended March 31, 2001.

Clariant FY-01 net up by 5.17%

Clariant (India) Ltd has posted a net profit of Rs 162.80 million in the financial year ended March 31, 2001 as compared to Rs 154.80 million in the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is higher at Rs 2864.10 million as compared to Rs 2579.40 million in the year ended March 31, 2000. The Board of Directors has recommended a Dividend of Rs 6 per equity share subject to the approval of the shareholders.

Matsushita Lakhanpal Battery FY-01 net down by 45.44%

Matsushita Lakhanpal Battery India Ltd reported a fall in net profit from Rs 71.30 million in the financial year ended March 31, 2000 to Rs 38.90 million in the current financial year ended March 31, 2001. Total Income posted by the company in the year ended March 31, 2001 is at Rs 1775.50 million as compared to Rs 1944.20 million in the corresponding period last fiscal. The Board of Directors of the Company has recommended dividend of 20% for the financial year ended March 31, 2001.

Indo Gulf denies news item

With reference to a news article titled 'Indo Gulf to buy back shares', appearing in a leading financial daily, Indo Gulf Corporation Ltd has stated that at this point of time there is no move afoot to announce a buyback of its equity in about a month's time. The company further stated that any view expressed on the issue is entirely of the newspaper and not of the Company.

Ashima shareholders approves approve merger of Ahmedabad New Cotton Mills

Ashima Ltd has informed BSE that at the Extra-Ordinary General Meeting of the Company held on May 05, 2001, the business of the merger of the Ahmedabad New Cotton Mills Co. Ltd. with the company, has been approved by the shareholders by Special Resolution. The said merger is however, subject to approval by BIFR and other authorities.

BSE imposes Special Margins on 3 scrips

BSE has informed members of the exchange that Special Margin of 25% has been imposed on the following scrips. The margins are with effect from May 15, 2001. Code Scrip Name Group 32403 Fourth Generation Information Systems Ltd. B2 32181 Gujarat Mineral Development Corp. Ltd. B1 31209 Nucleus Software Exports Ltd. B1

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