SAIL, Tisco & Kalyani Steel sign MOU for B2B portal

SAIL Tata Steel and Kalyani Steels Limited have signed a Memorandum of Understanding (MOU) today the 4th September 2000 for the creation of an International based, global independent B2B steel marketplace.The proposed steel portal under the name metaljunction.com is expected to be the leading and regionally dominant global marketplace for buyers and sellers of iron and steel products as well as allied services .The MoU stipulates that a joint venture company would simultaneously be floated to oversee the functioning of the steel marketplace and provide professional management. While the details of investments are being worked out based on SAIL s equity participation at 40% (Tata /Kalyani Steel-60%)the investment of SAIL is expected to be Rs 40-50 million.

Cosco declares 10% interim dividend

The Board of Directors of Cosco India Ltd. at its meeting held on September 4, 2000 has recommended a dividend of 10% (Re 1/- per share) on the paid up equity share capital of the company for the financial year 1999-2000.

Vadilal Enterprises JQ 2000 net profit at Rs 9.02 million

Vadilal Enterprises Ltd. has posted a net profit of Rs 9.02 million in the quarter ended June 30, 2000 as compared to Rs 5.55 million in the same period last year. Net Sales for the quarter ended June 30,2000 are at Rs 281/- million as compared to Rs 273.74 million in the same period last year. Other income has decreased from Rs 2.69 million in JQ 99 to 1.96 million in JQ 2000.Major business of the company i.e. marketing of ice-cream & processed food products is of seasonal nature. Sales as well as profits during April to September period are usually higher than October to March period.

Computech International allots equity shares on private placement basis

Computech International Ltd. has informed BSE that the Board of Directors of the Company at its meeting held on September 02, 2000 has allotted 1.5 million equity shares of Rs 5/- each at a price of Rs 113/- each (Rs. 5/- as face value and Rs 108/- as a premium) on private placement basis as per SEBI guidelines.

GV Films to enter into draft agreement with Pentamedia Graphics

The Board of GV Films Ltd. has approved the draft agreement to be entered into between the company and M/s. Pentamedia Graphics Ltd. for transferring internet web casting rights of 2000 film titles to M/s. Pentamedia Graphics Ltd. in lieu of Pentamedia Graphics Ltd. allotting 90,000 equity shares of their company. The Board of GV films has resolved that Mr. G Venkateswaran is authorised to sign such documents/agreements as may be required for this purpose.

T. S. Ushasri appointed Chief Technology Officer at Digital India

Digital Equipment India Ltd., a leading Indian software services and exports company announced on September 04, 2000 the appointment of Ms. T. S. Ushasri as Chief Technology Officer. As the primary technology advisor for the Company, Ushasri will select and conduct technology searches. Her other responsibilities will include assessing programmatic needs to assure a balance of financial resources for the company's technological developments and promote internal technology transfer. She will also be the technology interface to customers and identify alliance partners for various technologies and will be responsible for building her own team of technology consultants. Ushasri will lead the Digital Advanced Technology Group, which will comprise technical experts from different technology areas. This team will not only lead Digital India's technical initiatives, but also architect solutions for the customer together with the Business Units. She will define and lead the "Technical Ladder" for identifying/development and career progression of technical resources in Digital India. In the past Ushasri worked with reputed organisations such as NIIT, Ashok Leyland Information Technology and Wipro Technologies. Prior to joining Digital India, Ushasri was Vice President - Enterprise Application Services - Wipro Technologies Ltd, where she was responsible for identifying appropriate technologies, development of productised services business development, choosing alliance partners and establishing competencies through its Centres of Excellence for EAS.

JK Corp Board approves restructuring scheme

The Board of Directors of JK Corp Ltd. at its meeting held on August 31, 2000 considered & approved the restructuring scheme of the company which comprises of 1) Debt Restructuring 2) Divestment of Paper Division to Central Pulp Mills Ltd. (CPML a group company) and 3) merger of JK Udaipur Udyog (a cement company) after its restructuring. These will be subject to approval of respective boards. This will result in two focussed companies a) a paper company with capacity of 1,37,000 tonnes which would be the second largest producer of fine papers in India with leadership in Copier & Maplitho segments and b) a cement company with capacity of 3.2 million tonnes which will be the third largest cement manufacturer in Northern Region with market share of around 14%. Both paper and cement businesses would get the benefit of economies of size and synergies. Due to Debt restructuring interest burden will be substantially reduced.

Datapro Information announces stock split in the ratio of 1:5

The Board of Datapro Information Technology Ltd. at its meeting held on August 31,2000 has decided to split the equity share of the company from Rs 10/- per share to Rs 2/- per share. The equity share of Rs 10/- each will be divided into five fully paid up equity shares of Rs 2/- each . The Board has also decided to issue 71,87,500 equity shares of Rs 10/- each at a premium of Rs 22/- per share by way of conversion of 23,00,000 fully convertible debenture of Rs 100/- issued to M/s SRG Infotec Ltd.

Gary Cofer appointed as MD of P&G Hygiene

Mr. Gary Cofer Country Manager, Procter & Gamble has been appointed as Managing Director of Procter & Gamble Hygiene and Health Care Ltd. effective September 1, 2000. Mr. Cofer joined P&G in 1985 and has been with P&G in India leading the Customer Business Development (CBD) function since March 1988.Mr Cofer has developed significant understanding and experience of the Indian market over the past two and a half years in India. Mr. Sunil Durani Director Human Resources, Procter & Gamble has been appointed Executive Director ,Procter & Gamble Hygiene and Health Care Ltd. effective September 1, 2000.

Zodiac Clothing denies news item

With reference to the news item ' Zodiac to merge with Mayfair' appearing in the Financial Daily dated August 31, 2000 Zodiac Clothing Co. Ltd. has informed BSE that there is no proposal at present or in the immediate future to merge with its subsidiary Mayfair Ltd. The company further clarifies that there is no plan to foray into branded womens' wear and thus the statement appeared in this regard is totally incorrect and denied.

Integrated Enterprises fixes record date for the purpose of reduction in equity capital

Integrated Enterprises (India) Ltd. has fixed October 04, 2000 as the record date for the purpose to determine the eligible shareholders to get the payment @ Rs 16/- per equity share in connection with the reduction of equity capital of the company by 40,00,000 equity shares of Rs 10/- each by paying off the equity shareholders, excluding the promoters, at the said rate of Rs 16/- per share. BSE has informed its members not to deal in these securities from September 11, 2000 until further notice.

Polar Latex to issue equity shares on private placement basis

The Board of Polar Latex Ltd at its meeting held on August 28, 2000 has decided to issue equity shares of Rs.10/- each aggregating to Rs.15 million on private placement basis as under: a. M/s. Omkam Finance (P) Ltd., New Delhi - 425000 shares b. M/s. Omkam Securities (P) Ltd., New Delhi - 375000 shares c. M/s. Omkam Finest (P) Ltd., New Delhi - 300000 shares d. Mr.Peeyush Agarwal, New Delhi - 400000 shares

Trading to resume in 3 scrips from September 4

BSE has informed its members that they were advised not to deal in the securities of the undermentioned companies because of non-compliance of listing requirements regarding intimation of dates of closure of Registrar of Members / Record Dates to the Exchange. The dealings in the securities can now be resumed with effect from September 4, 2000. Scrip Code Company Name 31341 Gujarat Investa Ltd. 12369 Khatoo Synthetics Ltd. 2407 Nath Pulp & Paper Mills Ltd.

Birla Corporation to issue rights shares in the ratio 3:10

The Board of Birla Corporation Ltd. at its meeting held on September 02, 2000 has decided to issue ordinary shares of the company to its shareholders on rights basis in the ratio of 3 ordinary shares for every 10 ordinary shares held within a price band of Rs 20/- to Rs 24/- (inclusive premium). The actual price will be decided by the Board of Directors of the company in due course. The Board has also decided to call an Extraordinary General Meeting to increase Authorised Share Capital of the Company from Rs 750 million to Rs 1000 million.

BSE revises special margin on 50 scrips

BSE has informed its members that the following scrips which are at present under Special Margins will attract Special Margins as indicated hereunder with effect from Monday, September 04, 2000. The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last day of the settlement. Sr.No. Code .No. Company Group Special Margin Per Share % 1 20077 AMTEK AUTO B1 25 2 17455 ANCO COMM B2 25 3 35 BALAJI DIST B1 25 4 31460 CONT.CONTROL B2 25 5 26443 DATASOFT APPL B2 25 6 24170 DSQ BIOTECH B2 25 7 14118 ESKAY K'N'IT B1 25 8 23277 G V FILMS B2 25 9 32338 GDR SOFTWARE B2 25 10 6076 GRIND NORTON B1 25 11 31984 GUJARAT FISCON B2 25 12 26899 HIMALAYA INT. B2 25 13 193 HOTEL LEELA B1 25 14 12185 INDIA ONLINE B2 25 15 24826 JUPITER ORGA B2 25 16 31692 KHYATI MULTI B2 25 17 30411 MAGAN INDS B2 25 18 6041 MAHESH AGRO B2 25 19 31417 MEGA CORPN B2 50 20 17344 MINDTECK (I) B1 25 21 32127 MOBILE TELE B2 25 22 32089 MOH LTD B2 50 23 17334 MOTHERSON SS B1 25 24 6954 MOTOROL SPECI B2 25 25 26576 NATH SEEDS B1 25 26 11264 NEDUNGADI BANK B1 25 27 17540 NEXUS SOFTWARE B2 25 28 31688 OCTOGON TECH B2 25 29 321 PADMINI POLY B1 25 30 17119 PCS INDUSTRIES B1 25 31 32314 PENTAGON GLO B2 25 32 31611 PRRANETA INDS B2 25 33 346 PUNJAB COMM B1 25 34 3691 SAHARA INDIA B2 50 35 11563 SANCHAY FINANCE B2 50 36 30501 SARVODYA LAB B2 25 37 31980 SENTIL AGRO B2 50 38 26137 SHETRON LTD B1 25 39 23033 SOUNDCRAFT I LT B1 25 40 8978 SPL INFOWEB B2 25 41 12299 STERLING TEA B1 25 42 31707 SUN INFOWAYS B2 50 43 24470 SYNCOM FORMULAT B2 25 44 24719 TANU HEALTH B2 25 45 31830 TODAY WRITING B2 50 46 31554 TOP CASSETTE B2 50 47 32131 TRIUMPH INTER B2 25 48 31917 TWINSTAR SOFTWA B2 25 49 26441 VISION TECH B2 25 50 32325 VITAL COMM B2 25

Money

Rapid Information on Stocks & Corporates

Tell us what you think of this report