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High Court approves amalgamation of Indus e-Solutions with Megasoft

The Hon'ble High Court of Madras has approved and sanctioned the scheme of Amalgamation of Indus e-Solutions with Megasoft Ltd. The Board of Directors of Megasoft Ltd. has fixed August 18, 2000 as the record date for the purpose of ascertaining the shareholders who are entitled to exchange the equity shares of the company with the equity shares of Megasoft Ltd.

Prime Industries to allot 2 million equity shares on preferential basis

The Board of Directors of Prime Industries Ltd. at its meeting held today (July 5, 2000) has considered and approved the preferential allotment of 2 million equity shares of Rs 10/- each to the promoters their relatives friends and associates.

Lock out declared at Andhra Pradesh Paper Mills factory

The Andhra Pradesh Paper Mills Ltd. has informed the BSE that following violence restored to by a section of labour on July 4, 2000 the company declared lock out in the factory situated at Rajahmundry on July 5, 2000 in a view to protect the assets of the company.

Toubro Infotech JQ 2000 net profit up by 137.53%

Toubro Infotech & Industries Ltd. has posted a net profit of Rs 10.86 million for the quarter ended June 30, 2000 as compared to Rs 4.57 million in June Quarter 99. The total income for the quarter ended June 2000 is up by 145.51% at Rs 100.38 million. The net profit for the year ended June 30, 2000 is at Rs 30.10 million as compared to Rs 13.75 million in the previous year. The total income for the year ended June 30, 2000 is up by 94.78% at Rs 283.77 million.

Spic Electronic Q1 net down by 76.98%, sales down by 71.22%

Spic Electronic and System Ltd has posted a net profit of Rs 1.62 million for the quarter ended June 2000 as compared to Rs 7.02 million in JQ 99.The total income for the quarter ended June 2000 is down by 71.22% at Rs 53.27 million.

BSE imposes special margin on 5 scrips

BSE has imposed Special Margin in the under mentioned scrip as mentioned alongside with effect from Wednesday July 5, 2000. Sr No Scrip Code Scrip Name Scrip Group Special Margin Per Share (%) 1. 32302 SIBAR SOFTWARE SERVICES LTD B2 25% 2. 31460 CONTINENTAL CONTROLS LTD B2 25% 3. 24719 TANU HEALTHCARE LTD B2 25% 4. 19091 TASTY BITE EATABLES LTD B2 25% 5. 3685 RAJMATA INVESTMENT & FINANCE LTDB2 25%

Infosys launches its new product Finacle-an integrated core banking solution

Infosys Technologies Ltd has launched its new product Finacle today (July 5, 2000). Finacle is an integrated core banking solution which is centralized, multi-currency and multi-lingual enabled and functionally rich addressing both retail and corporate banking requirements. Positioned as a core banking e-platform that will bring about a paradigm shift in the way banking is done , Finacle leverages internet technology to drive the operations of a bank. According to Mr Nandan Nilekani President, MD & COO of Infosys "Finacle is a highly secure open platform for banks that are ready to go beyond banking." Explaining further, he added, "Banks are becoming a one-stop for financial services other than traditional core-banking services. But existing technology platforms fall short of the flexibility and interoperability needed to handle these diverse requirements and hence there was a need for a future ready platform like Finacle. Perhaps the most important aspect of Finacle is that it is completely Web enabled. This new generation enterprise banking system brings the advantages of Internet technology to work for banks and seamlessly integrates with surround Web applications. Finacle's open architecture allows easy integration with multiple delivery channels. It enables banks to offer products and services through ATMs, Call Centres, Telephones and the Internet ensuring 24*7*365 service levels across all the channels. Finacle has the right technology and functional architecture to empower banks to embrace the internet revolution. It easily integrates at all the right points of the banking value chain and creates a powerful Banker's desktop said Mr. Girish Vaidya Senior Vice President and Head Banking Business unit of Infosys. Finacle is highly extensible and very flexible. Its powerful scripting tool and workflow engine can be used to enhance and fine-tune the available functionality by building new business rules and business processes. This provides critical time-to-market advantage empowering banks to quickly introduce and roll out new innovative services to their customers

Gail & Shell enter into a strategic tie up to explore opportunities in the Gas Sector

Gas Authority of India Ltd and Shell International Gas Ltd have entered into a strategic tie up to explore opportunities in the Gas Sector.The two companies signed a Principles of Cooperation Agreement in New Delhi on July 4, 2000. The agreement proposes the setting up of joint team to evaluate and identify various projects in the gas sector covering upstream gas imports and pipelines. These would include discussions on possibility on LNG imports into India, and import of gas through pipelines. In addition the two companies also propose to work on the development of gas transmission and distribution pipelines for marketing of natural gas in regions to be served by LNG. Both the companies have major areas of strength and recognise the potential of adding value to their business by a cooperative approach based on complimentary skills. Speaking at the signing ceremony in Delhi, Mr. C R Prasad CMD of GAIL said, "GAIL's vision is to maintain its leading domestic operations in gas transmission and to maximise availability of gas within the country to meet the growing demands of development. GAIL is also looking to further establish itself as an integrated energy and hydrocarbons processing company with significant presence and access to related opportunities both inside and outside India. Shell is a global leader in the oil and gas industry and our association with them is one of value addition.

VMF Softech to transfer its site to its subsidiary

VMF Softech Ltd.has decided to transfer the portal site of the company www.ahmedabad.com to its subsidiary, VMF Netventures Ltd. for a consideration of Rs.51/- million based on valuation report. The company has decided to hold 51% of the equity capital in VMF Netventures Ltd.

TTK Prestige launches gas stoves

TTK Prestige Ltd .has informed the BSE that it has launched Gas Stoves under 'Prestige' brand name.

Petron Engineering clarifies on newspaper reports

With reference to an Article about Petron Engineering Construction Ltd. under "Construction Update" published in Express Business Avenues on 28.06.2000. The company informed BSE that the article contains several factual inaccuracies that may mislead the general investors, particularly with regard to the projection of turnover is far from correct.

Blue Dart subsidiary acquires aircraft on lease basis

Blue Dart Express Ltd. has informed BSE that, its wholly owned subsidiary viz. Blue Dart Aviation Ltd. has acquired on lease its third aircraft (Boeing 37-200) for addition to its existing fleet of two Boeing Aircraft's. After conversion, the Aircraft is expected to be ready for use as a Cargo Aircraft in the second half of this financial year.

Global Tele-Systems enters into strategic tie-up with Oracle India

Global Tele-Systems Ltd has entered into a strategic tie-up with Oracle Software India Ltd to deliver applications to multiple customers over the internet. This initiative is one of the shared user services under the Application Service Provider business (ASP) provided by the company. The company will provide customer access to use e-business applications . The company and Oracle will actively promote market and campaign the use of the ASP solution in the Indian as well as global business environment.

Alpha Drugs to discontinue production of certain products

Alpha Drugs India Ltd has decided to discontinue the production of Side Chain Products namely D (-) Phenyl Glycine Chloride Hydrochloride and Parahydroxy Phenyl Glycile Dane Salt by end of August 2000.

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