Procter & Gamble FY 2000 net profit up by 31.96%

Procter & Gamble Hygeine and Health Care Ltd. (PGHH) has reported a net profit of Rs 750.30 million for the year ended June 30, 2000 as compared to Rs 568.60 million in the same period last year. Net sales for the year ended June 30, 2000 are at Rs 4751.40 million as compared to Rs 4682.60 million in the year ended June 30, 1999. Other income has increased from Rs 57.30 million in the year ended June 30, 99 to Rs 105.40 million in the year ended June 30, 2000. The manufacturing arrangement which PGHH had with Procter & Gamble Home Products Ltd. (PGHP) for shampoo manufacture was terminated. PGHH received as compensation Rs 60 million as determined by an independent committee. Commenting on the financial performance, Mr B V Patel, chairman, PGHH commented that the good performance was primarily driven by Whisper success. "Despite the pressure from low priced sanitary pads we launched even more superior quality products. During the year, we launched Whisper Ultra - the most technologically advanced Sanitary pad in the category. We also Introduced Tampax tampon in a learning market, which will further strengthen our leadership position in the Feminine Hygiene category."

Silverline Technologies to enter into strategic alliance with TIS

Silverline Technologies Ltd, a global software services company, is entering into a strategic alliance with TIS Worldwide, an e-business solutions integrator. Through this agreement, Silverline will invest $12.5 million in TIS, establishing it as a minority shareholder, Silverline will become TIS's exclusive software solutions provider in India, while TIS will gain global development capabilities. TIS will expand its FLITE e-business development labs outside the U.S. It will opening two labs in Silverline's world-class Development Centers by year end in India. These labs, located in Mumbai (Bombay) and Chennai (Madras), will enable the rapid prototyping development, testing and implementation of e-business solutions. With these new FLITE labs, TIS will be able to offer customers a more extensive range of enterprise services, including e-business application maintenance and 24x7 customer support. The strong methodologies of both companies - Silverline's SEI CMM Level 4 and ISO 9001 certifications and TIS' proven design and planning methodology (DPM) - will enable them to coordinate business on a global basis. The value of the agreement over the next three years is expected to be $25 million to Silverline. TIS expertise in delivering e-business solutions using its off-site development model, FLITE, combined with our back-office development and deployment strength, make our two companies an ideal fit, and Shankar Iyer, Chief Executive Officer of Silverline Technologies. Silverline's state-of-the-art software development facilities and its large base of highly skilled software professionals, combined with TIS FLITE Labs, enable us to offer global support and quicker turnaround for our e-business clients, said Jeff Najaraian CEO of TIS Worldwide. ALSO SEE: Silverline defers acquisition of Software Company in US, to acquire 6% stake in TIS

Telco clarifies on newspaper reports

With reference to the article "Telco scrip zooms on car hiveoff talk" in a financial daily dated August 29, 2000 Tata Engineering and Locomotive Engineering Company Ltd. has informed BSE that there are currently no plans to hiveoff the car project into a separate company.

Majestic Auto to issue preference shares

Majestic Auto Ltd. has informed BSE that the Board meeting will be held on August 30, 2000 to consider issue of 2,00,00,000 non cumulative non convertible redeemable preference shares of Rs 10/- each at par to the promoters and such other group companies as may be decided by the Board.

Vinsari Fruitech appoints 2 Additional Directors

At the Board Meeting of Vinsari Fruitech Ltd. held on August 28, 2000 it has been resolved to appoint Sri Kishore G Motwani, Sri Praful Bhanushali as Additional Directors and accept the resignation of Sri C H Nagendra Kumar as Additional Director of the company wef August 28, 2000.

Sterlite receives orders worth US $75 million for optic fiber and optic fiber cable

Sterlite has received large export orders for supply of Optical Fiber and Optical Fiber Cables worth US$ 75 million to the developed economies of the world. These orders have been received by the Company on the basis of its strength of being amongst the world's major producers of Optical Fiber. There is a global upsurge of demand for Optical Fiber and Sterlite has been able to capitalise on its core Research and Development capabilities and its strength of having large Optical Fiber manufacturing capacity. Sterlite Telecom's revenue profile has undergone a sea change with a significant portion of its revenues emanating from Optical Fiber and Optical Fiber Cables. The company's Optical Fiber and Optical Fiber cables capacities are fully booked for the current year. As a conscious strategy, the Company will be further enhancing its presence in the discerning developed markets, with the full year Optical Fiber and Optical Fiber exports of around US$ 150 million. The Company is currently in the process of increasing its Optical Fiber manufacturing capacity from 2 million FKM to 5 million FKM during this year, making Sterlite amongst the top few producers of Optical Fiber in the world. Optical Fiber and Optical Fiber Cables have become the main profit drivers of Sterlite's Telecom business. JFTC will progressively be a relatively small portion of Sterlite's Telecom business revenues and an even smaller portion of its bottomline. Order for Jelly Filled Cables have been released by the DOT against their annual tender. DOT has released orders for 35 of the 36 sizes tendered and that too for a total of 75% of the entitled quantity/order size. Further, DOT has not released any orders for 200 pair cable size to any firm. Sterlite's two subsidiaries have received orders which account for nearly 50% of the total order quantity expected to be received by the Group. DOT has kept pending release of Sterlite's order which is expected to be released shortly. Sterlite's allocated quantity have been kept in reserve by them and the DOT has not allocated the same to any other firm.

Mercator Lines to issue 1.25 million shares on preferential basis

The Board of Directors of Mercator Lines Ltd. in their meeting held on August 28, 2000 has approved issue of 1.25 million equity shares of Rs 10/- each out of the capital of the company at a price to be decided in accordance with SEBI guidelines on preferential basis but not less than Rs 19/- per share to the following promoters of the company Mr. Harish K Mittal to be issued 0.75 million equity shares & Mrs. Archana H Mittal to be issued 0.5 million equity shares.

BSE imposes special margin on 3 scrips

BSE has imposed a special margin of 25% per share on the following scrips with effect from August 29, 2000. Sr. No. Scrip code Scrip name Scrip group 1. 193 Hotel Leela Venture Ltd. B1 2. 7119 PCS Industries Ltd. B1 3. 8978 SPL Infoweb Ltd. B2.

Ashima Board approves merger scheme of Ahmedabad New cotton Mills

The Board of Ashima Ltd has approved, subject to necessary approvals, the scheme of merger of The Ahmedabad New Cotton Mills Co. Ltd. (ANC) with the company. One equity share of Ashima Ltd. will be alloted for every five equity shares held in Ahmedabad New Cotton Mills Co. Ltd.

ITIL allots 18,395 equity shares at Rs 815 per share on private placement basis

Information Technologies India Ltd. has informed BSE that the Committee of Directors of the company at their meeting held on August 28, 2000 have allotted by way of Private Placement 18,395 equity shares of Rs 5/- each of the company at a price of Rs 815/- per share. Arush Exports Private Ltd. has been allotted 13615 equity shares, Atlas Television Private Ltd. has been allotted 3435 equity shares & Atlas Flora Private Ltd. has been allotted 1345 equity shares on preferential basis in accordance with SEBI guidelines as applicable. With this the total paid up capital of the company is increased to Rs 694.99 million.

Silverline defers acquisition of Software Company in US, to acquire 6% stake in TIS

The Board of Silverline Technologies Ltd. at its meeting held on August 28, 2000 decided to 1. Defer its decision about the acquisition of the entire holding of a software company in the US 2. Consider making a strategic investment, to achieve synergies of US $12.50 to US $15 million in TIS Worldwide Inc (TIS) to achieve a 6% stake in the common stake of the company. TIS is a company incorporated under the laws of the state of Delaware USA in 1992. It is a key player in the IT consulting and e-business market. It has operations spread over 10 offices across the US with over 600 software professionals. Its revenue for the year ended Dec 31,1999 was US $104million. 3. Seek approval for a) Reservation of upto 10,00,000 fresh equity shares of the company under ESOP for India based employees and upto 10,00,000 ADSs (each ADS representing 2 underlying equity shares of the company) under an ADR linked ESOP for the employees of the subsidiaries b) Increase in the authorised capital of the company to Rs 1000 million

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