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| KLG Systel launches "Jaldi in a Box" |
KLG Systel Ltd. India's premiere Knowledge company, today (October 4, 2000) Launched "Jaldi In Box", Asia's first shrunk-wrapped e-commerce solution. Jaldi In A Box has been developed on Microsoft DNA architecture and has been designed to streamline the creation of online shopping sites that will facilitate Business-to-Consumer or Business -to-Business e-commerce. Jaldi In Box Has been priced at Rs.9999 and will be available through traditional software retail channels. KLG Systel has tied up with leading Indian logistics and finance companies such as DHL and HDFC to provide logistics and payment gateway facilities to users. KLG Systel is a leading Indian software company, and also the promoter and now whole owner of online shopping portal Jaldi.Com
Today there is no one-stop shop for setting up an e-commerce site. Domain name registration, web space, web page design, an e-commerce engine, credit card clearing and logistics are some of the myriad issues to be addressed with Jaldi In a Box we aim to share our domain experience on Jaldi.com with India and the world. Through this unique packaged software we want to put the power of the Internet in the hands of individuals, traders, companies manufacturers and in fact any one headed for business onto the Web", said Kumud Goel,(Managing Director, KLG Systel Ltd.)
Jaldi In A Box is aimed at those looking to set up online shops and provides a unique service through customizable templates, built in security features, access to leading payment gateways and host server space. User will find it easy to build customized sites, by taking advantage of user-friendly site construction features such as cataloging and search. The most significant feature of 'Jaldi In A Box' is that the site once constructed will be in a "ready-to-transact" mode as a result of the built-in-technical and logistical support services provided by KLG Systel as part of the products core offering.
Key Benefits with Jaldi In A Box:
1. Free web address at www.yourname.com for one year
2. Additional web identity on Jaldi.com
3. Location and Category listing on the Jaldi online retail marketplace
4. Web space for hosting your website with upto 2000 product items
5. Online advertising on Jaldi.com
6. Access to Jaldi.com's B2B market place
7. Credit card authentication facility from HDFC Bank or from Easy Netcom
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| Citicorp Securities Board approves amalgamation of Citicorp Credit |
The Board of Directors of Citicorp Securities and Investments Ltd. at the meeting held today (October 4 , 2000) has approved the Scheme of Amalgamation of Citicorp Credit Services India Limited (CCSIL) with the Company subject to all requisite approvals.
The exchange ratio for the purpose of merger would be 4:5 i.e., 4 Equity Shares of the face value of Rs.10 each of Citicorp Securities and Investments Ltd. will be issued against every 5 Equity shares of the face value of Rs.10 of CCSIL. |
| NTT Data's US$ 2 million eCommerce order for NIIT |
The US$ 7 billion Japanese systems integrator NTT DATA has engaged NIIT, the global eBusiness Solution Corporation, to create a Business-to-Consumer communication portal for the major media conglomerate in Japan. The details of this US$ 2 million order were finalised by the two companies in Tokyo recently.
The System to be created by NIIT will enable the individuals to log on to this Internet site using mobile phone or computers for posting and retrieving information or availing of other services. This value-added system will be one of the largest Business-to-Consumer portals in Japan and will enable communications between individuals and companies. Speaking about this prestigious offshore development order, Mr. Kyoji Murkami, President, NIIT Japan said ,This is a significant mile-stone reached in the NIIT and NTT Data's ongoing relationship . NTT Data is a key technology solutions customer for NIIT and we are proud to be deploying our world-class processes and creating cutting edge software for building this mission critical, high performance job search portal for them.
Dr. Tatsuo Suzuki, General Manager of NTT DATA Industrial Systems Sector, commented that, NTT DATA is glad to have NIIT as a partner for creating this eCommerce site. NTT DATA is immensely pleased to be creating state-of-the-art eBusiness solutions. This tie-up will give NTT DATA access to expertise in successfully deploying large projects for global clients in a time-bound manner.
NIIT has been involved in this project right from the architectural definition phase and will continue through the implementation stage. As a part of this project NIIT will also create the iMode interface, a technology used by NTT DATA in this site to enable its accessibility from the mobile phone in Japan. iMode, which is technology developed by NTT DoCoMo, is used for telecom-internet connectivity. The portal will be created deploying technologies like JAVA, J2EE EJB, JSP Weblogic and Oracle8i on Solaris severs mainframe integration. |
| Swedish Match AB increases stake in Wimco |
Wimco Ltd. was under the joint control of the Jatia Group and Swedish Match AB and its subsidiaries. The Jatia Group has ceded its participation in the joint control over the company in favour of Swedish Match AB and its subsidiaries. Such cessation of participation in joint control by the Jatia Group is accompanied by a transfer of a substantial part of the Jatia Group's shareholding in the company to a wholly owned subsidiary of Swedish Match AB.
Swedish Match Singapore Pte Ltd. Singapore (a wholly owned subsidiary of Swedish Match AB) have acquired 1,13,82,800 equity shares of the company representing 21.89% of the paid up capital of the company on September 27,2000 from AVP Trading Pvt. and Plash Food Pvt. Ltd. representing Jatia Group.
Such transfer of shares is in connection with the abovementioned cessation of participation in joint venture control over the company by the Jatia Group in favour of Swedish Match AB and its subsidiaries. After this transfer of shares the subsidiaries of Swedish Match AB namely Swedish Match Singapore Pte Ltd. and its subsidiaries (namely Haravon Investments Pte Ltd. and Seed Trading Pte Ltd.) collectively hold 74% of the paid up equity capital of the company. |
| ICICI enters into JV with Lombard for Canada for insurance business |
ICICI Ltd. one of India's largest financial services provider, announced that it has entered into a joint venture with Lombard, one of the oldest property and casualty insurance companies in Canada, to launch general insurance business in India. The agreement was signed today (October 4, 2000) between Mrs. Lalita D. Gupte, Joint Managing Director & COO, ICICI and Mr Prem Watsa, Chairman and CEO, Fairfax Financial Holding Limited the parent company of Lombard.
As per the terms of the agreement, ICICI would hold 74% of the equity of the newly formed company, while the JV partner would hold the balance 26%. Mr. Sanjiv Kerkar, Senior General Manager, ICICI, will head the JV Company. The JV will offer both commercial and personal lines of general insurance products to corporate and retail customers.
The recent opening of the Indian insurance sector has provided ICICI an opportunity to increase its product suite in line with its strategy to be a universal bank,ICICI's quest for a joint venture partner was based on the premise that complimentarity of skills was necessary for an enduring and successful business relationship in the general insurance area. Given ICICI's strong corporate relationships, increasing retail customer base and a technology enabled multi-channel distribution network, it was looking for a partner which offered relevant domain knowledge, a culture oriented towards quick decision making and business processes based on high technology. After a careful assessment of the global arena, ICICI opted for Lombard which provided the optimal fit on the above criteria.Lombard Canada,using high technology for competitive advantage, offers the full range of commercial and personal insurance products - the focus areas for the ICICI-Lombard JV. It enjoys leadership position in several product segments
The JV partners believe that they would be above to create an innovative and service oriented organisation that would use technology to deliver cost effective and high quality products and services to customers. |
| DCGI approval for clinical trial on Dr. Reddy's anti-cancer molecule |
The Drugs Controller General (India) has cleared the Investigational New Drug (IND) application filed by Dr. Reddy's Research Foundation (DRF) for conducting phase I clinical trials in India on its anti-cancer compound DRF-1042. This was it formed officially to DRF through a communication from DCGI on October 3, 2000.
DRF-1042 is a novel, orally acting camptothecin analogue, which exhibits anti-cancer potential by inhibiting topoisomerase I enzyme. The phase 1 clinical study for molecule is to be taken up at Nizam's Institute of Medical Sciences (NIMS), Hyderabad, and Tata Cancer Hospital, Mumbai.
DCGI's approval of the IND application makes DRF-1042 the first new chemical entity from the company's R&D pipeline to be cleared for clinical trials in India.
In addition to DRF-1042, DRF has a robust pipeline of seven other compounds in the therapeutic areas of diabetes, cancer and pain management.
DRF licensed its first anti-diabetic compound DRF-2593 in 1997 to Novo Nordisk, a Danish multi-national company in return for upfront payments, milestone payments and royalties. Phase II Clinical trials have commenced on this compound in FY2000 to determine its efficacy in-patients. The trials are in progress. DRF-2725, another anti-diabetic molecule licensed to Novo Nordisk in June 1998 has also recently entered phase II trials of clinical development.
So far the company has received milestone payments of USD8 million from Novo Nordisk for these compounds. |
| With reference to news item "Raymond snaps up Color Plus for Rs 35 crores" appearing in a financial daily Raymond Ltd. has informed BSE that there is no truth in the news item. |
| Hindustan Lever Q3 results on October 13, 2000 |
| A meeting of the Board of Directors of Hindustan Lever Ltd will be held on October 13,2000 to take on record the unaudited financial results for the quarter ended September 30,2000 in respect of the financial year ending December 31,2000. |
| REI Agro to increase authorised capital |
A meeting of the Board of Directors of REI Agro Ltd will be held on October 11,2000 to consider the following:
1. To increase Authorised Capital from Rs 200 million to Rs 700 million
2. To issue preference shares/debentures
3. To discuss matter of foreign equity participation in the equity of the company
4. To discuss buy-back equity of the company
5. To discuss employees stock option plan |
| BSE imposes special margin on Infoquest Software |
| BSE has imposed special margin of 25% on Infoquest Software Exports Ltd having scrip code no 31973 with effect from Wednesday, October 4, 2000. |
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