BSE imposes Additional Volatility Margin on 43 scrips

BSE has imposed Additional Volatility Margin on the following Scrips for settlement No. 23/2000-2001 commencing on 28 August 2000. Please note that AVM would be computed on the net outstanding Purchase or Sales positions as may be applicable including carryforward positions at the end of day at the rates given below The rates of AVM would be remain unchanged for the entire settlement. Sr. No. Code No. Company Group AVM Purchase/Sales (%) 1 12599 Adani Exports Ltd. B1 10 2 20077 Amtek Auto Ltd B1 10 3 12169 Badal Exports and Consultants Ltd., B2 10 4 35 Balaji Distilleries Ltd. B1 10 5 1469 Boston Education and Software Technologies Ltd. B2 10 6 24588 CDR Ind. Specialities Ltd. B2 15 7 32339 Compucom Software Ltd. B2 15 8 32306 Compudyne Winfosystems Ltd. B2 10 9 31224 Computech International Ltd. B1 10 10 26443 Datasoft Application Software (I) Ltd. B2 10 11 23618 Dredging Corporation of India Ltd., B1 10 12 23864 DSQ Software Ltd. B1 15 13 26624 Elbee Services Ltd. B1 10 14 32326 Fortune Informatics Ltd. B2 15 15 32318 Gemeni Communicatons Ltd. B2 10 16 189 Hinduja Finance Corporation Ltd B1 15 17 23758 Information Technologies (India) Ltd B1 15 18 24330 Jayant Agro-Organics Limited. B1 25 19 5280 John Fowler (India) Ltd., B1 10 20 32283 Kaashyap Radiant Systems Ltd. B2 15 21 31892 Khandwala Securities Ltd. B2 10 22 32035 Kumbh Finance Ltd. B2 10 23 17562 Leading Edge Systems Ltd. B1 10 24 32341 Logix Microsystems Ltd., B2 10 25 26045 Luminaire Technologies Ltd B2 15 26 6041 Mahesh Agricultural Implements & Steel Forgings Lt B2 10 27 32127 Mobile Tele-Communications Ltd. B2 15 28 32089 Moh Ltd. B2 15 29 298 National Peroxide Ltd. B1 10 30 31209 Nucleus Software Exports Ltd B2 10 31 17536 Onward Technologies Ltd. B1 10 32 321 Padmini Polymers Ltd. B1 15 33 17119 PCS Industries Ltd. B1 10 34 26807 Peerless Shipping & Oilfield Services Ltd. B1 15 35 346 Punjab Communications Limited B1 15 36 32316 S.Kumar.Com Ltd. B2 10 37 31980 Sentil Agrotech Limited B2 15 38 12028 Shreejee Yatayat Ltd. B2 15 39 17411 Shyam Telecom Ltd. B1 25 40 32344 Softsol India Ltd., B2 10 41 31830 Todays Writting Products Ltd. B2 15 42 7458 United Breweries Ltd. B1 15 43 19307 Vikas WSP Ltd. B1 15

Goldiam International Director resigns

Goldiam International Ltd. has informed BSE that Mr. Vimal N Sedani Whole Time Director of the company has resigned w.e.f August 25,2000.

Sree Rayalseema Power to consider merger with Sree Rayalseema Hi-Strength

The Board of Directors of Sree Rayalseema Power Corporation Ltd. will meet on September 12, 2000 to consider interalia the following: 1. To consider and approve in principle amalgamation of the company with M/s Sree Rayalseema Hi-Strength Hypo Ltd. 2. To consider and appoint an expert for valuation of shares to determine the share exchange ratio 3. To consider and approve the final notice to shareholders for payment of share allotment money.

Shree Rajasthan Syntex FY 2000 net profit at Rs 13.7 million

Shree Rajasthan Syntex Ltd. has posted a net profit of Rs 13.7 million for the year ended June 30, 2000 as compared to Rs 14.80 million for the same period last year. Net sales for the year ended June 30, 2000 are at Rs 1293.90 million as compared to Rs 1175.30 million in the same period last year. Other income has fallen from Rs 4.40 million in the year ended June 30, 99 to Rs 2.60 million in the year ended June 30, 2000.

BSE to shift 6 scrips from Z group to B-2 group

BSE has informed its members that the under mentioned securities will be shifted from the 'Z' Group to the 'B-2' Group with effect from Monday, the 28th August, 2000. 1. Bharti Healthcare Ltd. (Scrip Code 6887) 2. I.B. Infotech Enterprises Ltd. (Scrip Code 19463) 3. India Sugars and Refineries Ltd. (Scrip Code 7150) 4. Mrugesh Trading Ltd. (Scrip Code 12065) 5. Speedage Commercials Ltd. (Scrip Code 12291) 6. Sunitee Chemicals Ltd. (Scrip Code 31945)

Usha Beltron completes GDR issue

Usha Beltron Ltd. has informed BSE that, the company has successfully completed the placement of 3,500,000 GDRs (each GDR representing one equity share of Rs.10/- each of the company)at a price of US$ 3.25 per GDR. The issue is priced at a premium of approx. 4% over the closing price of Rs.143.55 of the company's share at the Mumbai Stock Exchange on 24.08.2000.

Onward Technologies FY 2000 net profit up by 360.21%

Onward Technologies Ltd. has posted a net profit of Rs 42.75 million for the year ended June 30,2000 as compared to Rs 9.29 million in the year ended June 30,99. Net sales for the year ended June 30,2000 are up 20.49% at Rs 436.55 million as compared to Rs 362.32 million in the same period last year. Other income has decreased from Rs 1.46 million in FY 99 to Rs 1.13 million in FY 2000. The company has entered into a global partnership agreement with Novell Inc a Fortune 500 net services software company based in USA.The company made a preferential allotment of 7,70,000 equity shares of Rs 10/- each to various parties at a premium of Rs 250/- per share.

Primeast Investments to discontinue finance activities

The Board of Directors of Primeast Investments Ltd. has approved as under, subject to necessary approvals: 1. Change in main object clause in the MoA to include the business of computer software and Internet related activities and to discontinue the business of NBFC. 2. Change in name of the company to Sovereign Technologies Ltd. or such other name as may be approved. 3. Increase in Authorised share capital to Rs.300 million. 4. To allot 2,29,50,000 equity shares of Rs.10/- each to promoters and others on preferential basis. 5. Investment in 2,29,50,000 equity shares of Rs.10/- each in the shares of Pacific Internet India Ltd.

Ojas Technochem to issue equity shares on preferential basis

Members of Ojas Technochem Ltd have approved to offer, issue and allot 1,04,09,350 equity shares of Rs.10/- each at par to the persons other than the existing share holders on a preferential basis and Increase in Authorised Share Capital to Rs.230 million.

Autolec Industries introduces 5 day working week

Autolec Industries Ltd has informed BSE that, due to operational and administrative reasons, the company has introduced a 5 day working week beginning from 4th week of August, 2000.

Integrated Rubian JQ 2000 net profit at Rs 0.81 million

Integrated Rubian Exports Ltd. has posted a net profit of Rs 0.81 million in the quarter ended June 30,2000 as compared to a net loss of Rs 3.79 million in JQ 99. Net sales for the quarter ended June 30,2000 are at Rs 58.69 million as compared to Rs 36.61 million in JQ 99.

Promoters of Essel Packaging enhance holding through open market purchases

Essel Packaging Ltd. has informed BSE that a promoter company Ganjam Trading Co Pvt. Ltd. has purchased 3,00,000 equity shares of the company on August 22,2000 through open market purchases on behalf of the promoters. Consequently the shareholding of the purchasing Promoter Company after acquisition has increased from 6.39% to 8.36%.

Rolta Board approves restructuring of IT business, 4 Rolta shares for every 11 shares of Rolta Design

The Board of Directors of Rolta India Ltd. at its meeting held today (August 25,2000) considered the recommendations of the consulting firms and approved and adopted the following: Demerger of Software Conversion Division of Rolta Design & Conversion Services (RDCS) into the company on the report of the two eminent consulting firms namely M/s Deloitte Haskins & Sells and M/s N M Raiji & Co Consequent to the demerger as approved Rolta will benefit substantially apart from acquiring 40,000 square feet of prime Software Development & Conversion Centre with all state-of-the-art facilities like software, systems and tools all of which have immense value in this line if business. Rolta will get various other synergistic benefits from this demerger leading to total integration of its software conversion operations and mitigate any resultant business risk. RDCS is a debt free company and the assets and profits of this division will be added to those of Rolta, which will result in a stronger asset base and lead to generation of larger profits. The report has been determined after taking into consideration relevant factors applicable to the knowledge-based industry that both entities are engaged in. The fair basis was arrived at by the adoption of a combination of the following two methodologies with appropriate weightage valuation a) Discounted Free Cash Flow Method b) Market Price/imputed market price method The paid up equity share capital of Rolta is Rs 548.80 million whilst the paid up equity capital of RDCS is Rs 242.20 million both with uniform equity share face value of Rs 10/- each. The eminent valuers have in their report arrived at an exchange ratio of four equity shares of Rolta for every eleven equity shares of RDCS. The Board had earlier approved the amalgamation of Rolta Animation & Modeling Ltd.(RAM) the wholly owned subsidiary of Rolta with the company. The amalgamation of RAM will further strengthen the asset base of Rolta with addition of assets of RAM. Consequently the investment of Rolta in RAM will be extinguished without any dilution of equity.

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