Wockhardt launches Cardiac Drug in US market

Wockhardt Limited, India's top five pharmaceutical major has launched its product based on the cardiac drug Enalapril Maleate in the United States market. Merck & Co's patents on the drug expired on August 22, 2000 and Wockhardt's product, a generic equivalent tablet of Merck's brand Vasotec, will be available on the US shelves from August 23, 2000. Wockhardt's product is being manufactured and packaged at the US FDA approved facility at Aurangabad and is based on their own bulk drug, which is manufactured at Ankleshwar. Wockhardt has received US FDA approvals for both the Enalapril tablets and the bulk drug used in them. Enalapril is one of the largest selling cardiac drugs in the world with global sales of US $ 2.5 billion and US sales of over $900 million. It belongs to the category of Angiotensin Converting Enzyme Inhibitors and is used in treatment of hypertension and congestive cardiac failure. Wockhardt's Enalapril is being marketed through it joint-venture with the New Jersey based Sidmak Laboratories Inc and will have the names and logos of both Wockhardt and Sidmak on the label. According to Wockhardt Chairman, Mr. Habil F. Khorakiwala, This FDA approval and launch of our product is a reflection of the global standards set and maintained by Wockhardt in all its products and manufacturing systems. Our arrangement with Sidmak is also very unique, because it offers a wide visibility to the Wockhardt brand on one hand and also allows us a equal share in the profits made in the US market, on the other. He further confirmed that "This product is just the second of the series of products to be launched together in the US, during the next few years. Four products are under review by the FDA, and we are also working on four other products."

SSI FY 2000 net profit up by 215.07%, declares 40% dividend

SSI Ltd. has posted a net profit of Rs 569.33 million for the year ended June 30, 2000 as compared to Rs 180.70 million in the same period last year. Net sales have increased from Rs 849.35 million in the financial year ended June 30, 99 to Rs 1975.18 million in the year ended June 30, 2000. Other income has increased from Rs 26.71 million in the year ended June 30, 99 to Rs 168.32 million in the financial year ended June 30, 2000. Other income includes Rs 72.37 million on account of exchange rate difference. During the year, the company has acquired a) Indigo International Inc (DE), USA under swap of shares by issue of 2,40,000 shares as per SEBI Guidelines pricing (such shares being eligible for dividend on a pro-rata basis) and (b) Inndsoft Systekh Ltd.,Chennai for a total consideration of Rs 31.50 million and invested a sum of Rs 36.05 million for 80% of the paid-up share capital in Agenda Netmarketing Pvt. Ltd. Chennai. During March 2000, the Company had raised US$100 million by way of issuing 6,94,444 Equity Shares representing 69,44,440 GDS and the GDS were listed with the London Stock Exchange. The Board has recommended a Dividend of 40% for the year 2000,subject to the shareholders at the ensuing Annual General Meeting to be held on 23/11/2000.

Lupin Lab to consider merger of Lupin Chemicals

The Board of Directors of Lupin Laboratories Ltd. will meet on August 31, 2000 to consider the following 1. Merger of Lupin Laboratories Ltd. and Lupin Chemicals Ltd. 2. Closing of the company accounting year as at March 31, 2000 instead of June 30, 2000 3. Taking on record the unaudited financial results for the first quarter covering the period 1st April 2000 to 30th June 2000.

Gujarat Ambuja to infuse fresh capital in ACRL

Gujarat Ambuja Cements Ltd holds about 42% equity stake in Ambuja Cement Rajasthan Ltd (ACRL) formerly known as DLF Cement Ltd. ARCL has made losses for the year ended June 30, 2000 and it is being decided to recapitalise the company by way of infusion of fresh equity capital. The company intends to move a resolution for the consideration of shareholders to increase its share capital.

J K Industries clarifies on newspaper reports

With reference to a news item J K Industries Ltd. enters into a long term tie up with an international manufacturer for supply of intermediates to prop up the ailing JK Drugs & Pharmaceuticals Ltd. appearing in a financial daily on August 18, 2000, J K Industries Ltd. has informed BSE that the above mentioned news item is incorrect and misreported. The Company J K Drugs & Pharmaceuticals Ltd. was looking for a strategic partner. However there are no firm proposals yet in this regard.

Trading in 6 companies to resume from August 23, 2000

Members of the Bombay Stock Exchange were advised not to deal in the securities of the undermentioned companies because of non-compliance of listing requirements regarding intimation of dates of closure of Registrar of Members/Record Dates to the Exchange. The dealings in the securities can now be resumed with effect from August 23, 2000 5426 Dagger-Forst Tools Ltd. 30407 Fiscal Ltd. 68 Georg Fischer Disa Ltd. 32268 Kale Consultants Ltd. 11672 Mittal Securities Finance Ltd. 21161 Sri Lakshmi Saraswathi Textiles Ltd.

BSE imposes special margin on Balaji Distilleries

BSE has imposed a special margin of 25% on the scrip of Balaji Distilleries Ltd (Scrip code: 35) with effect from August 23, 2000.

Tanu Healthcare Board approves stock split

Tanu Healthcare Ltd has informed BSE that the Board of Directors of the company has approved the proposal of split/sub division of shares from Rs.10/- each to Re.1/- per share, subject to necessary approvals. Extraordinary general meeting of the company will be held on September 08, 2000.

Kotak Mahindra to apply to RBI, IRDA for entering insurance business

The Board of Directors of Kotak Mahindra Finance Ltd. reviewed the company's results, showed a net worth in excess of Rs. 5000 million i.e. the prescribed norm under RBI's guidelines for entry for NBFCs into the insurance sector. Accordingly, the company proposes to make the necessary applications to RBI and Insurance Regulatory and Development Authority for entering the life insurance business.

Khyati Multimedia to consider rights issue, preferential issue

The Board of Khyati Multimedia Entertainment Ltd. (Formerly known as Khyati Resorts Ltd.) has decided to propose the resolutions regarding issue of equity shares on preferential allotment basis and/or issue of equity shares on rights basis before the members of the company, in the ensuing annual general meeting to be held on September 26, 2000.

J.K.Pharmachem to issue equity shares to UTI

The Board of J.K.Pharmachem Ltd. has approved, subject to necessary approvals, to issue 2,13,17,150 equity shares of Rs.10/- each and 1,77,640 Red. Preference shares of Rs.1200/- each to Unit Trust of India and to reclassify and increase the Authorised Share Capital of the company from Rs.650million to Rs.1010 million.

Zicom Electronic to consider setting up of a wholly owned subsidiary

The Board of Zicom Electronic Security Systems Ltd will meet on August 28, 2000 to consider setting up of a wholly owned subsidiary in the United States of America. The Board will also consider modifying the employees stock option scheme, approved earlier at the extra ordinary general meeting held on February 1, 2000.

Scheme of arrangement between A.P.R., BILT, APR Packaging sanctioned

A.P.R. Ltd has informed BSE that the scheme of arrangement and reorganisation between Ballarpur Inds. Ltd., APR Ltd. and APR Packaging Ltd. is sanctioned by the Honourable High Courts of Andhra Pradesh and Mumbai (Nagpur Bench). The reduction of capital of APR Ltd. confirmed by the Honourable High Court of Andhra Pradesh has become effective.

Zee Telefilms denies news about private placement

With reference to news item appearing on Reuters Screen dated August 22,2000 that Zee Telefilms Ltd. will be making a private placement of 10 million shares at Rs 486 per share. Zee Telefilms Limited has informed BSE that the said news item is not factually correct and is categorically denied by the company. The company further clarified that there is no plan or any talk to place any stock of the company to anybody at present.

Japanese PM visits Wipro Software Facility in Bangalore

The Prime Minister of Japan Mr. Yoshiro Mori during his visit tour of India to foster Indo Japanese partnership visited Wipro Technologies the largest Indian provider of IT services in Japan in Bangalore today.(August 22, 2000) We are delighted that the Hon'ble Prime Minister of Japan accepted the invitation I extended to him early last month to visit Bangalore and get first hand understanding of the Indian IT sector,said Mr. Azim Premji Chairman Wipro Technologies welcoming the Prime Minister. Wipro's experience in Japan has been mutual /positive since 1999.Today over 600 Wipro professionals work on Japanese projects and about 10% of our Software exports are to Japan. During his visit to Wipro Mr. Yoshiro Mori was escorted to the Development Centres established by Wipro for two major Japanese clients NEC Corporation and Daiwa Institute of Research. This was followed by a brief tour of the Wipro Learning Centre, an in-house Centre for imparting training on the latest software technologies. The projects undertaken by Wipro in Japan cover areas in Internet technologies, E Commerce Mobile exports Embedded Systems ASIC design and Telecom applications with the focus industries for enterprise applications being Finance Manufacturing, Telecom and Technology. Wipro Technologies established a presence in Japan in 1995 and today amongst 10% of Wipros software exports are to Japan covering both enterprise applications as well as technology services. Serving over 22 Japanese customers, Wipro has set up dedicated offshore development facilities in India for several of these clients. To overcome language and cultural barriers in executing business in Japan.Wipro has invested in Japanese training programs and around 100 engineers have already been trained in Japanese language platforms.

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