Pentasoft to provide ERP solutions to Jaipuria Group

Pentasoft Technologies Limited has entered into an agreement to provide Enterprise Resource Planning (ERP) solutions for the Jaipuria Group - claimed to be one of the largest franchisees of Pepsi and one of the major soft drink manufacturers and distributors in India with a turnover of over Rs.5000/- million.Pentasoft will implement ORION, an ERP solution at this Hyderabad-based bottling plant integrating 15 companies, seven manufacturing plants and over 50 C&F agents- The implementation of Orion would result in improved operational efficiency - particularly in distribution network and handling of empty bottles. This ERP project is scheduled to be completed in June 2001. An expert Team of technical and functional professionals from Pentasoft would be deployed at the bottling p1ant for the implementation of the project. The company would also provide training for the Jaipuria staff.

Indian Rayon denies putting Carbon Black unit on block

In a communication sent to the BSE Indian Rayon Industries Ltd. has denied the reports appearing in a financial daily stating that Indian Rayon is contemplating to sell off its Carbon Black Division. The company has stated that the report is totally baseless and untrue.

Logix Microsystems to allot equity at Rs 110/- per share on preferential basis

The Board of Directors of Bangalore based Logix Microsystems Ltd at a meeting held today (December 26, 2000), has decided to allot 0.1 million equity shares to promoters on preferential basis. The shares will be allotted in consideration of cash at a price of Rs 110/- per share. The allotment will be as per the approval already received at the AGM and will be subject to SEBI guidelines on preferential allotment.

Mastek Group fears 5 to 7% drop in revenues, profits to suffer due to Dot-com Customer

The Group revenues of Mastek are expected to be 5% to 7% lower than that in the previous quarter for the second quarter ended December 31, 2000. Mastek informed this by a communication to the BSE today (December 26, 2000). The company has attributed the reduction in revenues to delay in closing large accounts with significant offshore potential. The company has expressed fears that the groups profitability would be further impacted by provision made against dues from a dot com customer who has yet to receive an additional round of funding and a charge for stock options granted to subsidiary employees in the UK (as per the new rulings of the Accounting Standard Board) leading to a drop of 60% to 70% in net profits, in comparison to the previous quarter. The Board of Directors of the company will meet on January 12, 2001 to discuss the full year impact in terms of revenue and profits and shall release the same thereafter along with the quarterly results.

Fire at Ruchi Soya's refinery at Indore

A fire has occurred in the refinery section of Ruchi Soya Industries Ltd on December 25, 2000. The said refinery is located at Talawali Chanda village in Indore in the state of Madhya Pradesh. The fire has damaged the plant and machinery of the refinery section. The loss/damage is however covered by insurance. The company is in the process of resuming production in the refinery section shortly.

Pentamedia Graphics expands into Media, Studio, Web and Themed Entertainment

Pentamedia Graphics Ltd , as per its strategic plans, has been contemplating acquisitions and joint ventures in its areas of operations. In line with its plans, the Company has decided to execute animation and special effects for various entertainment streams like Media Entertainment, Studio Entertainment, Web Entertainment and Themed Entertainment. The Board of Directors of Pentamedia Graphics at its meeting held on December 22, 2000 has decided to acquire Media Dreams Ltd., (Media Entertainment), Mayajaal (Themed Entertainment) and Krish Srikkanth Sports & Entertainment (Web/Media Entertainment) for a total consideration of Rs 1759.6 million. This consideration is being achieved through a STOCK SWAP method which would constitute 8.8% of Pentamedia's existing Equity. SBI Capital Markets Ltd advised and valued the above mentioned companies. Media Dreams Pvt Ltd is a 3-year-old entertainment business unit catering to the television, theater and Internet. 100% Shares of Media Dreams has been acquired for 3.08% of Pentamedia's total Equity.Pentamedia has been executing graphics for Media Dreams in their various ventures by providing special effects. Krish Srikkanth Sports & Entertainment Pvt.Ltd is a 12 year old Company, promoted by the former Indian Cricket Captain Mr. Krish Srikkanth, specialising in sports related entertainment and other media entertainment. 100% Shares of Krish Srikkanth Sports & Ent. Pvt. Ltd has been acquired for 2.25% of Pentamedia's total equity. Mayaajal is a 2 year old company involved in complete themed family entertainment. The present built up area (around 0.1 million sq feet) of Mayajaal, hosts a series of variety entertainment like Bowling Alleys, 6 multiplex theaters, food courts, video parlors, games hubs, browsing nodules, shopping malls and other themed entertainment for a hetrogeneous population. 100% shares of Mayajaal has been acquired for 3.47% of Pentamedia's total equity.

IDL Industries clarifies on news in financial daily

IDL Industries Ltd has communicated a clarification to the BSE in respect of a news article appearing in a financial daily on December 22, 2000. The company has clarified to have divested its 25.75% stake in ASTRA-IDL Ltd (AIDL) to Astra Pharmaceuticals AB Sweden the co-promoters of AIDL and not to Astra Zeneca as was wrongly published in the financial daily through oversight. The company has also confirmed having come up with additional units for Bulk Drugs at 3 locations being Ramagundam (AP), Dhanbad (Bihar) and Talcher (Orissa). The company is looking for setting up an Ammonium Nitrate plant facility since many years. However nothing has been finalized as yet on setting up the project as regards to location, capacity, raw material source and capacity outlay.

BIFR orders winding up of Jay Electric

The Board of Industrial & Financial Reconstruction (BIFR) has passed an order relating to the winding up of Jay Electric Ltd. The company had earlier been registered with BIFR.BIFR has appointed the Administrator through Court for ICICI - the operating agency.

IPCL Board to consider transfer of Vadodra unit to IOC

The Board of Directors of Indian Petrochemicals Corporation Ltd will meet on January 19, 2001 to discuss the transfer of its Vadodra Unit to Indian Oil Corporation Ltd. This discussion will be on the basis of the instructions received by IPCL from the Government of India. Besides the above the Board will also consider at the meeting the unaudited financial results of the company for the third quarter ended December 31, 2000.

Floatglass India Board to consider Rights Issue

A meeting of the Board of Directors of FloatGlass India Ltd is scheduled to be held on January 5, 2001 to consider the issue of Equity shares on Rights basis. The said meeting is to also consider the increase in the Authorised Share Capital of the company.

Rainbow Breweries enters into a contract with Shaw Wallace

Rainbow Breweries Ltd has entered into a Bottling Contract with M/s. Shaw Wallace Breweries Ltd, a unit of Shaw Wallace & Co. Ltd. As per the contract Rainbow Breweries will brew and bottle leading brands of Shaw Wallace viz. Haywards 5000, Hayward 2000 and Royal Challenge Premium Lager Beer from their brewery located in Shiwar in Rajasthan.

Infrastructures India approve stock split in ratio of 10:1, to list on MSE

The members of Infrastructures India Ltd (formerly known as "Navyug Commercial Company Ltd") have agreed to subdivide the face value of the company's shares from Rs 10/- to Re 1/- per share. Members also approved to list the company's shares with the Madras Stock Exchange. Further, the Registered office of the company is to be shifted from Mumbai to Chennai. The above decisions were taken at an Extra-Ordinary General Meeting of the company.

Linc Pen Board approves preferential issue of 2 mn equity shares

The Board of Directors of Linc Pen & Plastics Ltd has informed BSE that it has approved issue of upto 2 million equity share of Rs 10/- each to promoter group on preferential basis. The promoter group comprises of promoter shareholders, Directors and their associates (both corporate and others) and relatives. The shares may also be issued/allotted to such other persons whether members of the company or not. The shares will be issued at a price to be determined as per the guidelines issued in this respect by the SEBI.

HLL clarifies on news item

With reference to the news item appearing in a leading financial daily under the title 'HLL may take equity stake in TV Co.' and the related news item 'HLL's ad spend cut likely to be challenged to TV venture', Hindustan Lever Ltd has informed BSE that the report is entirely speculative in character as the company does not have any specific plans in this regard at this point of time. The Company has further clarified that being the biggest buyer of media, there is a regular need for the Company to continuously explore the scope of partnership or alliances with media owners. The Company has reiterated that the question of taking stake in a media Company is purely in the stage of ideation.

Overseas Finlease to merge Oriental Industries into itself

The Board of Directors of Overseas Finlease Ltd (OFL) has decided to merge Oriental Industries Ltd (OIL) with OFL. The above decision was taken at a Board meeting held toady (December 26, 2000). The Board has authorised Mr Satish Kumar, Director to prepare a scheme of merger and to appoint a firm of Chartered Accountants for the purpose of determining the value of shares of the company and to decide the swap ratio. The merger is subject to the receipt of the required permissions, approvals and assents.

Benzophen Board decides to issue shares on preferential basis to ICICI

The Board of Directors of Shree Benzophen Industries Ltd at its meeting held on December 23, 2000 has resolved to issue upto 0.88 million equity shares of Rs 10 each at par to Industrial Credit & Investment Corporation of India Ltd (ICICI) on preferential basis. The said shares are to be issued in lieu of the financial institutions debt of Rs 8.8 million. The issue of shares is as per the letter of ICICI to the company regarding restructuring of the company. The said preferential issue of shares is subject to consent of general meeting of the company by a special resolution.

Principal Pharma opposses Pollution Control Board's directives

Principal Pharmaceuticals & Chemicals Ltd has informed BSE about the directives received by the company on December 22, 2000 from Gujrat Pollution Control Board. According to the directives, the company is prohibited from manufacturing its product and has been asked to close its operations at its site till consent of the Board is obtained and adequate treatment plant is installed and efficiently operated. The company has been asked to direct the concerned authority to stop supply of water and electricity till that time. However, according to the company , the said directives have been passed wrongly. The company is in the process of making a proper representation before the Board in person and by correspondence. In the note to BSE, the company has not mentioned about the said factory and product name.

Northeast Securities Board approves amalgamation of Nettlink, swap ratio at 1:1

The Board of Directors of Northeast Securities Ltd, at its adjourned meeting held today (December 23, 2000) has approved the Amalgamation of M/s.Nettlink Ltd with the company. The Board of Directors have also considered Exchange Ratio of Equity Shares of 1:1 i.e. for every one equity share of M/s Nettlink Ltd, one share of M/s. Northeast Securities Ltd will be offered.

Welspun India appoints new Director

Welspun India Ltd has informed BSE that, the Board of Directors at its meeting held today (December 22, 2000) has accepted the resignation of Mr. K.J.Parekh - Director (operations) and has appointed Mr. R.K.Bhatnagar in his place with effect from December 22, 2000.

BSE imposes Additional Volatility Margins on 20 scrips

BSE has informed members of the exchange that Additional volatility Margin(AVM) in respect of the undermentioned scrips for the settlement No.040/2000-2001 commencing on Tuesday, December 26,2000. AVM would be computed on the net outstanding Purchase or Sales position as may be applicable including carryforward positions at the end of day at the rate given below. The rate of AVM would be remain unchanged for the entire settlement. Code Name of the Company Group AVM(%) 6820 Astra-IDL Ltd B1 10.00 32382 Balaji Telefilms Ltd. B2 15.00 31966 Bank of Madura Ltd. B1 25.00 17326 CMC Limited. B1 10.00 31943 CSJ Technologies Ltd. B2 15.00 32364 Cyberscape Multimedia Ltd. B2 25.00 24600 Flex Chemicals Ltd. B2 15.00 148 Flex Industries Ltd., B1 15.00 31439 Goldstone Technologies Ltd. B2 10.00 9079 Gufic BioSciences Ltd. B2 15.00 32291 KDL Biotech Ltd. B2 25.00 26576 Nath Seeds Ltd. B1 10.00 32350 Padmalaya Telefilms Ltd., B1 15.00 355 Rallis India Ltd B1 10.00 378 Saw Pipes Ltd., B1 25.00 295 Sesa Goa Ltd. A 10.00 32036 Top Media Entertainment Ltd. B2 25.00 32131 Triumph Int. Finance India Ltd. B2 15.00 32383 Vision Organics Ltd. B2 15.00 26441 Vision Technology India Ltd. Z 15.00

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