Wipro to set up a B2B digital marketplace

Wipro Ltd has informed BSE that it plans to set up a comprehensive B2B marketplace for Information Technology products and services. Named 01markets.com, this B2B market will provide a platform for procurement of a wide range of IT products and services, including services such as auctions, reverse auctions, content services and buyer/seller matchmaking services. For customers this means a reliable, neutral and online IT marketplace offering convenience of purchase, choice of brands, buying advice on configurations combined with the most efficient payment mechanisms and after sales support. The pricing services will enable organisations to buy large volumes at the lowest cost through reverse auctions and The Marketplace is currently in the pilot stage for a select group of customers and slated for launch in the coming weeks. Most leading IT majors are participating in this marketplace in varied areas like products, content and marketing. Intel and Microsoft are strategic partners in this initiative. IBM, HP, Acer, Epson, Canon, APC are amongst the many participants in the marketplace. 01markets.com plans to establish itself as a dominant player in the domestic market before taking the proposition global in the services area. 01markets.com will make available lowest total costs for the buyers and sellers by aggregating demand and supply, reducing cycle times and removing inefficiencies. The marketplace will redefine the IT buying experience of customers by offering single window service for all Information Technology requirements.

Satyam Computer ED to change role

Satyam Computer Services Ltd announced on August 18, 2000 that the Executive Director, Mr. C Srinivas (Srini) Raju, will be relinquishing his full time position as Executive Director effective from September 1, 2000. However, Mr. Srini Raju will continue to be a member of the Board of Directors of the company and its subsidiary, Satyam Infoway Ltd. (SIFY). Mr. Srini Raju was also the Managing Director of Satyam Enterprise Solutions before its merger with the parent company last year. Satyam Chairman, B Ramalinga Raju commented that Mr Srini played a critical role in the success of our joint venture as the CEO of Dun & Bradstreet Satyam Software and later at Satyam Enterprise Solutions. Mr Srini Raju's new role entails extensive travel and he will be dividing his time between India and the USA.

BSE imposes Additional Volatility Margin on 47 scrips

BSE has imposed Additional Volatility Margin (AVM) on the following Scrips for settlement No. 22/2000-2001 with effect from 21 August 2000. The 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 remain unchanged for the entire settlement. SR. NO. CODE NO. NAME OF THE COMPANY Group AVM Purchase / Sales % 1 26177 Adam Comsof Ltd. B2 10 2 12599 Adani Exports Ltd. B1 15 3 32129 Aptech Limited A 10 4 12169 Badal Exports and Consultants Ltd., B2 10 5 35 Balaji Distilleries Ltd. B1 10 6 1469 Boston Education and Software Technologies Ltd. B2 10 7 24588 CDR Ind. Specialities Ltd. B2 15 8 32339 Compucom Software Ltd. B2 25 9 32306 Compudyne Winfosystems Ltd. B2 15 10 31224 Computech International Ltd. B1 10 11 26443 Datasoft Application Software (I) Ltd. B2 15 12 23864 DSQ Software Ltd. B1 15 13 26624 Elbee Services Ltd. B1 15 14 32326 Fortune Informatics Ltd. B2 15 15 32318 Gemeni Communicatons Ltd. B2 15 16 189 Hinduja Finance Corporation Ltd B1 25 17 23758 Information Technologies (India) Ltd B1 10 18 11116 Investment Trust of India Ltd., B1 10 19 5280 John Fowler (India) Ltd., B1 15 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 15 24 32341 Logix Microsystems Ltd., B2 15 25 26045 Luminaire Technologies Ltd B2 15 26 32307 Melstar Information Technologies Ltd. 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 15 31 17536 Onward Technologies Ltd. B1 15 32 321 Padmini Polymers Ltd. B1 15 33 26807 Peerless Shipping & Oilfield Services Ltd. B1 15 34 346 Punjab Communications Limited B1 10 35 32316 S.Kumar.Com Ltd. B2 15 36 370 Salora International Limited B1 15 37 31980 Sentil Agrotech Limited B2 10 38 17411 Shyam Telecom Ltd. B1 15 39 32344 Softsol India Ltd., B2 15 40 8976 Spanco Telesystems & Solutions Ltd. B2 10 41 31707 Sun Infoways Ltd. B2 15 42 32299 Television Eighteen India Ltd. B1 10 43 19307 Vikas WSP Ltd. B1 15 44 17429 VJIL Consulting Ltd. B1 10 45 17399 VXL Instruments Ltd. B1 15 46 23261 Western Hatcheries Ltd., B1 10 47 32298 Zenith Infotech Ltd. B1 10

Transpek considering strategic alliance with SILOX

Transpek Industry Ltd. has informed BSE that the company is negotiating a strategic alliance with Societe Industrielle Des Oxydes SA (Silox) a company incorporated under the laws of Belgium. The negotiations in progress inter alia cover agreements relating to the following aspects: 1. Transfer of one of the businesses of the Company, viz. the Sulphoxylates Business, together with the factories and other assets relating thereto and certain outstanding borrowings to a Joint Venture Company (JVC) and the consideration therefore payable to the Company by the JVC. 2. Transpek Metals and Oxides Ltd., a subsidiary of the company, to be suitably renamed, will be the JVC. 3. The equity shareholding of the Company and SILOK in the JVC which is proposed to be 39 per cent and 61 per cent respectively. 4. The consideration for the equity shares in the JVC to be subscribed to by SILOX. 5. A Call option in favour of SILOX to acquire from the Company a further 15 per cent of the paid-up equity share capital in the JVC and the consideration therefor.

Trimline Investments to allot equity shares on preferential basis

The Board of Trimline Investments Company Ltd has approved the allotment of 9.30 million equity shares of Rs.10/- each at par on preferential basis, in terms of SEBI Guidelines.

Moh Ltd to develop e-com portal

Moh Ltd has informed BSE that it has started providing software solutions for websites, which are wap enabled. Company is planning to develop various portals pertaining to e-commerce, for the benefits of various businessmen, traders. The company is developing a portal for law professionals to cope up with the latest legal decisions, amendments, notifications etc. Further the company informed that ASIAN ONINE.COM, PLC, a UK based company is in negotiation with Moh Ltd to buy an equity stake in the company.

Jaldi E Commerce becomes subsidiary of KLG Systel

KLG Systel Ltd. has informed BSE that it has acquired more than 51% of the paid up capital of the M/s. Jaldi E Commerce Ltd., New Delhi. Accordingly, Jaldi E Commerce Ltd. has become the subsidiary of KLG Systel Ltd.

Board of Hinduja Finance approves merger of 3 companies

The Board of Directors of Hinduja Finance Corporation Ltd has approved the scheme of amalgamation for the merger of Hinduja Telecom India Ltd., Melody Trading Pvt. Ltd. and Richman Investrade Pvt.Ltd. with the company.

Cybertech Systems board approves buy-back

The Board of Directors of Cybertech Systems & Software Ltd. has approved the following, subject to necessary approvals: 1. ESOP for providing stock options to employees 2. Buy-back upto 10% of the fully paid up equity shares of the company at a consideration not exceeding Rs.120/- per share. The Board has deferred the proposal for amalgamation/merger of the company's 100% subsidiary with the company.

SRF board to consider issue of 2% equity to Dupont

The Board of Directors of SRF Ltd. has decided to include item in the Notice for the AGM to be held on 22.09.2000, a proposal for issue of 2% of paid up equity capital by way of preferential allotment to E.I.Du Pont De Nemours, a company incorporated in USA and E.I.DuPont India Ltd. for an amount of Rs.107.50 million for the approval of shareholders. The Board may exercise the option to issue 2% of the paid up equity capital at the price of Rs 87.14 per share. The shareholders approval in the AGM will thus authorise the Board to issue upto 12,33,635 equity shares of Rs.10/- each at a price not less than Rs.87.14 per share.

VDO India to consider preferential issue

The Board of Directors of VDO India Ltd. will meet on August 21, 2000 to discuss and consider the modernisation project of the company and to determine the appropriate method of funding the same including by way of preferential issue of equity shares in accordance with the Disclosure and Investor Protection Guidelines 2000 issued by SEBI

3 Foreign firms to acquire additional 2.67% equity stake in Moser Baer

Moser Baer India Ltd. has informed BSE that Bloom Investments Ltd., Ealing Investments Ltd. & Randall Investments Ltd. each have agreed to acquire 4,16, 666 equity shares aggregating 12,49,998 equity shares (0.89% by each of Bloom Investments Ltd., Ealing Investments Ltd., Randall Investments Ltd.,aggregating to 2.67% of the expanded capital of the company). Bloom Investments Ltd., Ealing Investments Ltd. and Randall Investments Ltd. currently hold 67,50,000 equity shares in the aggregate. Shareholding of each of these foreign companies will now be 26,66,666 equity shares aggregating to 79,99,998 equity shares (5.70% by each of Bloom Investments Ltd., Ealing Investments Ltd. and Randall Investments Ltd. aggregating to 17.09% of the expanded paid-up equity share capital of the company. All of these new shares are of Rs 10/- each and are allotted at a premium of Rs 330/- per share.

Money

Rapid Information on Stocks & Corporates

Tell us what you think of this report