Datapro Information to consider stock split

Datapro Information Technology Ltd. has informed BSE that the Board of Directors of the Company will meet on August 16, 2000 to: 1) Consider splitting the face value of the equity shares from the present Rs 10 to such lower value as may be decided 2) Consider the audited results for the year ended March 31, 2000 3) Review the performance of the Company and future business plan

Silverline sets up European operations

Silverline Technologies Ltd., a global IT solutions provider, has expanded European operations with strong local capabilities. The Right Honourable Mr. Keith Vaz, MP, House of Commons and Minister of State for foreign and Commonwealth Affairs, inaugurated the London operations of the Company on August 9, 2000. The Company is established since 1997 in the UK and has a strong existing client base. The new London Office is 5000 square feet with a capacity of 67 people. Another office has been set up in Stuttgart through Silverline Gmbh, a wholly owned subsidiary of Silverline Technologies. European operations are being established in line with the Company's strategy of being a truly global IT player. The Company is targeting a headcount of 200 in Europe within 18 months leveraging much larger offshore teams. The Company plans a flexible operating model that allows multiple client choice for service delivery. Under this model the clients have the option of using European Software Development facilities for engaging Silverline's services. Clients can also leverage Silverline's offshore facilities for delivery capabilities. European operations will use a combination of local and on-site staff with market expertise. European service lines of the company will involve: 1. E CRM 2. Electronic trading exchanges 3. Mobile commerce 4. Web enablement of legacy Target segments for the company will be 1. Financial services 2. Telecommunications 3. Commerce and industry Commenting on Silverline Technologies plans in Europe, Mr. Albert May, CEO Europe, Silverline Technologies said, "There are exciting times ahead for Silverline Technologies in Europe. We have a high quality senior level, professional team in place and we are in the process of rapidly expanding our size and presence. We are also implementing an aggressive marketing plan that will enable us to initially develop high quality revenue streams from blue chip clients. These operations will focus on high value added services for technology companies and financial services in the e-commerce and m-commerce arenas."

Bimetal Bearings Q1 net up 43.5%

Bimetal Bearings Ltd. has reported a net profit of Rs 20.08 million for the quarter ended June 30, 2000 as compared to profit of Rs 13.99 million reported in the corresponding quarter of the previous year, an increase of 43.5%. Net sales for Q1 2000 stood at Rs 150.32 million, an increase of 11.05% as compared to sales of Rs 135.36 million in Q1 1999. Other income for Q1 2000 stood at Rs 6.44 million as compared to Rs 4.6 million in Q1 1999.

Gramophone Co to change name

The Gramophone Company of India Ltd. has informed BSE that the Board of Directors of the Company in its meeting held on July 10, 2000 has proposed change of name of the company from "The Gramophone Company of India Ltd" to "Saregama India Ltd". This proposal is subject to approval of the shareholders in the forthcoming AGM of the company to be held on September 1, 2000.

Fire at Nava Bharat Ferro's power plant

Nava Bharat Ferro Alloys Ltd. has informed BSE that a fire broke out in the captive power plant of the company situated at Paloncha, Khammam Dist, A.P. on August 8, 2000 at about 10 pm. One of the boilers in the power plant was damaged and generation of power reduced. The company has also said that the boilers and other equipment are adequately insured and the ferro alloy operations of the company were not effected by this accident.

Aban Loyd Q1 net down 17.68%

Aban Loyd Chiles Ltd. has reported a net profit of Rs 17.79 million for the quarter ended June 30, 2000 as compared to profit of Rs 21.61 million reported in the corresponding quarter of the pervious year, a decline of 17.68%. Net sales for Q1 2000 stood at Rs 212.41 million, a decrease of 2.94% as compared to sales of Rs 218.86 million in Q1 1999. Other income for Q1 2000 stood at Rs 4.11 million as compared to Rs 6.87 million in Q1 1999.

Indo Rama to delist from Ahmedabad and Calcutta Stock Exchanges

The Board of Directors of Indo Rama Synthetics (India) Ltd. has decided to go for voluntary delisting of its shares from the Ahmedabad and Calcutta Stock Exchanges subject to necessary approvals.

Ind-Swift Laboratories to issue shares to FIs and promoters

Ind-Swift Laboratories Ltd. has informed BSE that, in order to re-structure the debt of the Company and to reduce the burden of interest on the Company, the Board of the Company has approved the issue of upto 3.6 million preference/equity shares on preferential basis to the IDBI and IIBI, the term lending Financial Institutions, subject to necessary approvals. Further, Board has approved the issue of preference shares amounting in aggregate to around Rs.75 million to promoters on preferential basis as per SEBI Guidelines.

Eurotex Industries to consider private placement of preference shares

The Board of Directors of Eurotex Industries & Mfg. Ltd has passed a resolution for incorporating one special resolution for private placement of preference shares for a total value not exceeding Rs.100 million in the notice of AGM to be held on 30.09.2000.

Doogar & Associates to issue equity to new promoters

The Board of Directors of Doogar & Associates Ltd. has decided to issue 6 million equity shares of Rs.10/- each to persons/entities belonging to new promoters' group i.e. Goyal Group headed by Mr S.C.Goyal on preferential basis, subject to necessary approvals.

Blue Chip India to consider bonus issue

Blue Chip India Ltd. has informed the BSE that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, August 16, 2000 to consider the following agenda: 1. To consider the issue of Bonus shares 2. To consider the increase in Authorised Capital 3. To consider any other business with the permission of the chair.

Merger of Rolta Design & Rolta Animation with Rolta approved

Rolta India Ltd. has informed BSE that at this Board Meeting, held on August 8, 2000 the board considered the feasibility report submitted by the two leading consulting firms recommending, namely M/s Deloitte Haskins & Sells and M/s N M Ranji & Co to bring all the IT related business of the company under one umbrella. Merger of the Software Conversion Division of Rolta Design and Conversion Services Ltd (RDCS) into Rolta India Limited (RIL) was approved. The acquisition of the software conversion division of RDCS with RIL will unlock synergistic benefits as the business activities and facilities of both the companies are complementary and interdependent. RIL's conversion activity, which presently forms a sizable portion of total revenue, is executed by RDCS at its state-of-the-art facilities in Mumbai. This will mitigate the interdependence and resultant business risks for both the companies as far as the software conversion business is concerned. The immediate gain accruing to RIL on the proposed merger with RDCS will be the functional economics of scale and benefit of technical skills from over 850 trained technical manpower and intellectual properties that RDCS owns over the years. Besides, the proposed merger will also be tantamount to backward integration of the production facilities of RDCS with the marketing and support infrastructure of RIL. The Board also approved the amalgamation of Rolta Animation & Modelling Ltd (RAM) with the Company.

Pro Apparels merger with Cravatex approved.

The scheme of amalgamation of Pro Apparels with Cravatex Ltd. has been duly approved by The Hon'ble Mumbai High Court on 02.08.2000.

Andhra Pradesh Paper to sub-divide equity shares

The Board of Directors of Andhra Pradesh Paper Mills Ltd. has decided to sub-divide equity shares of Rs.100/- into equity shares with a face value of Rs.10/-each, subject to necessary approvals.

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