Wipro ePeripherals becomes a separate legal entity

Wipro ePeripherals Ltd (WeP) the largest employee owned company in India will be restructured as a seperate legal entity from September 1, 2000.The erstwhile Peripherals systems division of Wipro Infotech has the unique equity structure of 61% being owned collectively by all employees of Wipro e Peripherals ,employees of Wipro Ltd and other business associates while 39% is owned by Wipro Ltd. It is a historic occasion for employees of both Wipro e Peripherals Ltd and Wipro Corporation said Azim H Premji Chairman Wipro Corporation while congratulating employees of the new company.All these years we have bred intrapreneurial talent within Wipro now it is the time to showcase that internal talent to the rest of the world. Wipro ePeripherals has the right people processes and strategic intent to succeed in its mission. Wipro ePeriherals will have the flexibility to get into strategic tie-ups with technology companies to usher in new products and related services in India. Our vision is to become the largest and most valuable Indian computer/Internet peripheral products and related service business enterprise that is best known for its customer focus,e enabled internal/external processes and its environmental /social consciousness,said Ram Agarwal Managing Director and CEO of the new venture,We will operate in the space between pure distribution companies and product companies like Epson,canon, or Printronix where we can value add in terms of marketing,sales, service /or support Wipro ePeripherals Systems Division a 15 year old Rs 2400 million division of the Rs 23130 million Wipro Limited, had a focus on marketing computer peripherals and has been profitable right through its inception generating positive cash flow. Since its inception it has reached over 6 lakh customers,which is one of the highest for any Indian IT vendor.

Lupin Labs Q1 net profit at Rs 170.20 million

Lupin Laboratories Ltd. has posted a net profit of Rs 170.20 million for the quarter ended June 30, 2000 as compared to Rs 47.90 million in the same period last year. Net sales for the quarter ended June 30, 2000 are at Rs 2166.50 million as compared to Rs 1989.50 million in JQ 99. Other income has fallen from Rs 30.50 million in JQ 99 to Rs 8.40 million in the quarter ended June 30, 2000.The Board of Directors has at its meeting held on 31st August, 2000, approved the merger of Lupin Laboratories Limited and Lupin Chemicals Limited w.e.f 1-4-2000.

Gujarat Gas enters into transportation agreement with Gujarat State Petronet

Gujarat Gas Company Limited (GGCL) and Gujarat State Petronet Limited (GSPL) have today August 31, 2000 signed an agreement whereby GGCL will transport natural gas beginning in the second half of 2001 from Hazira field of Gujarat State Petroleum Corporation Limited (GSPCL) to a village near Ankleshwar. As per the details of the agreement GGCL will transport 500,000 cubic meters of gas per day for GSPL increasing to 800,000 cubic metres of gas per day if necessary. GGCL will earn around Rs 0.70 per cubic meter. This is likely to result into additional revenue of more than Rs 100 million per annum. Speaking on the occasion Managing Director of GGCL Mr Edwin Bowles said "I am pleased to announce this tie up with GSPL and I look forward to a long relationship with mutual benefit to both companies. The trasportation arrangement will ensure that more industries in Gujarat will be able to take advantage of Natural Gas the most environment friendly fuel and which will result in lower pollution levels."

Tudor to issue 17.51 million equity shares on preferential basis

Tudor India Ltd. has informed BSE that at the meeting of Board of Directors held today August 31, 2000 inter alia agreed for the following subject to the necessary approvals from the shareholders and others 1. Issue of upto 17.51 million equity shares of Rs 10/- each on preferential basis to CMP Batteries Ltd. UK or its holding or subsidiary or affiliated companies to the exclusion of all other shareholders of the company either by way of conversion of existing unsecured loans and/or deferred payment credit on private placement and/or preferential allotment, against the adjustment of debt upto Rs 175.10 million CMP Batteries Ltd. UK holds 74.81% of the equity share capital of the company. 2. Increase in the authorized share capital of the company from Rs 165 million to Rs 350 million

Power station of LML suffers damage

LML Ltd has informed BSE that the company's main power station of 132KV tripped and suffered damage on August 30, 2000. The company is taking steps for expeditious repairs/installation of stand-by system and re-commissioning the line. The production is being maintained from the company's internal power generation sources. It is likely that the level of self generation of power may not be adequate to take care of the peak load requirement of production.

Cartographic Sciences to merge with Infotech Enterprises

The Board of Directors of Infotech Enterprises Ltd at its meeting held on August 30, 2000 has decided to merge Cartographic Sciences Ltd the wholly owned subsidiary with itself subject to necessary approvals in this regard.

Jindal Polyester Q1 net loss at Rs 31.30 million

Jindal Polyester Ltd has posted a net loss of Rs 31.30 million in the quarter ended June 30, 2000 as compared to a net profit of Rs 44.10 million in the same period last year. Net sales for the quarter ended June 30, 2000 are at Rs 1004.90 million as compared to Rs 817.10 million in the same period last year. Other income has increased from Rs 1.50 million in JQ 99 to Rs 7.20 million in JQ 2000.

Financial Technologies to be merged with e.Xchange on the Net

The Board of e.Xchange on the Net Ltd.(Formerly known as Nods Worldwide Ltd.) has decided to merge Financial Technologies (India) Pvt. Ltd. with the company. The swap ratio and the valuation report submitted by Messrs Dalal & Shah Chartered Accountants Mumbai in connection with the proposed merger of Financial Technologies with e.Xchange on the Net was accepted and based on the report the shareholders of Financial Technologies Pvt. Ltd. will be allotted two shares of e.Xchange on the Net Ltd for every 3 shares held in Financial Technologies .The merged entity will have a paid-up equity capital of Rs 255.69 million approx. As per the scheme of amalgamation with Electronic Broking Services Ltd., e.Xchange on the Net Ltd. has allotted 1,31,20,117 equity shares to the shareholders of Electronic Broking Services Ltd.

Blue Star denies news item

With reference to the news item 'Blue Star plans to invest Rs 50 million for Web operations' appearing in a financial daily dated August 30, 2000 Blue Star Ltd. has informed BSE that the above mentioned news item is not correct and does not form part of the Chairman's speech.

BSE imposes special margin on 6 scrips

BSE has imposed a special margin of 25% per share on the under mentioned scrips with effect from Thursday, August 31, 2000. Sr.No. Scrip Code Scrip Name Scrip Group 1. 31460 Continental Controls Ltd. B2 2. 6076 Grindwell Norton Ltd. B1 3. 32127 Mobile Tele Communications Ltd. B2 4. 11264 Nedungadi Bank Ltd. B1 5. 17540 Nexus Software Ltd. B2 6. 346 Punjab Communications Ltd. B1

Advent Computer to consider merger of Ibhar Software and Softsolutions

The Board of Advent Computer Services Ltd has decided as under, subject to necessary approvals: 1. Merger of Ibhar Software Pvt. Ltd. (ISPL) and Softsolutions Pvt. Ltd. (SPL) with the company. The consideration for the merger shall be swap based on the relative valuations which is pegged at Rs.500 Million for ISPL and Rs.120 Million for SPL and such other instruments including convertible warrants of the company will be allotted as 100% consideration for the entire stake of these companies, including IPR rights of the products of these companies. The management and technical team of these two companies shall align in full with the existing operations of the company. 2. Seeking for the support and guidance of one of the best global business practice and consulting firm Deloltte Haskin and Sells to evolve systems and processes with a view to bringing in synergy in the operations of the combined new entity, and to suggest a organisational structure suitable for the company to emerge as a global product company providing end to end solutions.

Motherson Sumi declares Bonus issue in the ratio of 1:2

The Board of Directors of Motherson Sumi Systems Ltd at their meeting held on August 30 has declared a Bonus issue in the ratio of 1:2 (one bonus share for every for every two existing shares of the company. The record date for the purpose of Bonus Issue is November 30,2000.

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