Birla Corporation to consider rights issue

The Board of Directors of Birla Corporation Ltd. will meet on September 2,2000 to consider inter alia approval of issue of ordinary shares /convertible debentures on Rights basis to the existing shareholders of the company.

Wipro Infotech to cater to emerging e-commerce players

Wipro Infotech a leading IT services provider in India is launching a new business division with an exciting new value proposition to cater to needs of the emerging electronic commerce market. A press conference has been organized by the company in Mumbai to give details of the new e-commerce services and solutions on August 28,2000.

Mascot Systems wins US$ 3.8 million contract

Mascot Systems Ltd., today (August 25, 2000) announced a three-year contract, with Royal Caribbean Cruises Ltd. to provide application maintenance outsourcing for the cruise lines reservation system. The US$3.8 million project consists of two phases. Mascot Systems will provide IT maintenance and support for Royal Caribbean's external booking products, internal individual and group reservations and guest accounting systems. In addition, Mascot will maintain and support the company's air/sea tours, sales four planning and inventory control systems. In 1999,Mascot Systems had assisted on a pilot project involving Royal Caribbean's vacation planner and this relationship has now been extended through the recent outsourcing agreement. Mascot systems team of software developers will execute the Royal Caribbean project between its software development centre at Bangalore and the onsite customer location at Miami Florida. A Significant proportion of the contract revenues will be contributed by offshore billings. Commenting about the Royal Caribbean contract Lisa Frankovitch, Mascot Systems Senior Vice President of U S Operations, Said; Mascot Systems will provide Royal Caribbean with cost-effective maintenance and support of its reservation and operations control systems, reducing the cost of ownership of the customers existing systems. This agreement extends the initial relationship with Royal Caribbean and will allow the customer to implement its technology modernisation initiative.

VSNL revises bonus ratio from 1:1 to 2:1

The Board of Directors of Videsh Sanchar Nigam Ltd.(VSNL) earlier at its meeting held on July 27, 2000 had recommended bonus shares in the ratio of 1:1 At its emergency Board meeting held today (August 25, 2000) VSNL considered various options to raise its paid up capital in order to meet the criteria on Governments policy on Domestic Long Distance services and decided as follows 1. To recommend to the shareholders resolutions regarding increase in Authorised Capital, of the company from Rs 1000 million to Rs 3000 million 2. Issue of Bonus shares in the ratio of 2:1 i.e. two shares for each existing share VSNL has informed BSE that these decisions are in supersession of earlier decisions of the Board at its meeting held on July 27, 2000.

Kaira Can declares 25% dividend

The Board of Directors of Kaira Can Company Ltd. at its meeting held today (August 25,2000) has recommended a dividend of 25%(Rs 2.50 per share) on 8,73,600 equity shares of Rs 10/- each for the financial year ended March 31, 2000. The said dividend if approved by the shareholders at the Annual General Meeting of the company to be held on September 29,2000 will be paid to shareholders whose names appear on the Register of Members of September 29,2000.

BSE imposes special margin on 2 scrips

BSE has imposed a special margin on the undermentioned scrips with effect from Friday, August 25, 2000. Sr.No. Scrip Code Scrip Name Scrip Group Special Margin Per Share (%) 1. 20077 Amtek Auto Ltd B1 25 2. 17344 Mindteck (India) Ltd B1 25

Max India to acquire 50% equity stake in Dr. Lal's Pathlabs

The Board of Max India Ltd. has approved the proposal for the acquisition of 50% equity stake in Dr.Lal's Pathlabs Pvt. .Ltd for an amount not exceeding Rs.140 million.

ITC Infotech becomes subsidiary of ITC

ITC Ltd has acquired the entire 2,00,000 equity shares of Rs.10/- each of ITC Infotech India Ltd., Calcutta. As a consequence, ITC Infotech India Ltd. has become a wholly owned subsidiary of ITC Ltd. w.e.f. August 21, 2000.

BPL consolidates holding in subsidiary

BPL Ltd has informed BSE that BPL PTI Ltd. has become a subsidiary of the company w.e.f. August 16, 2000, consequent to the transfer of 2,00,00,000 equity shares of Rs.10/- each. BPL PTI Ltd. is a closely held company engaged in the manufacture and marketing of Dry Cell Batteries. The paid up equity capital of BPL PTI Ltd. is Rs.400 million, out of which 88% is held by BPL Ltd., as on date.

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