Wipro and Microsoft further strengthen partnership

Wipro Chairman Azim Premji and Vice Chairman Vivek Paul had a 45 minutes closed meeting with Microsoft Chairman Bill Gates in New Delhi today (September 14, 2000) Mr Gates was impressed with the range of technology projects being implemented at Wipro Technologies both for Microsoft and for other customers using Microsoft tools and Wipro's productised services such as UWIN, the Unix to Windows migration, and e-order using end-to-end Microsoft DNA architecture. Mr Gates evinced keen interest in Wipro's unique positioning as the largest systems integrator in India. Mr Gates, Mr Premji and Mr Paul discussed Wipro's partnership in Microsoft's new global .Net strategy for platforms, products and services and how Wipro can complement Microsoft's strategy in proliferating internet usage from any device any time any where. In .Net platforms Wipro can offer services that help Wipro's computing and communications customers adopt .Net. Wipro can assist in product development, systems integration and migration. In the services area Wipro can provide services using XML adaptors, and assist Microsoft in new services. Mr Gates has agreed to assign a senior Microsoft executive to be a mentor and further strengthen the Wipro-Microsoft relationship. The discussions included exploring other areas of collaboration where Wipro will implement Microsoft platform based eCommerce projects worldwide as well as create and expand opportunities of working together in the Indian market. Microsoft and Wipro Technologies Global R&D are presently collaborating to enhance the capabilities around Windows 2000, Windows CE and Internet applications making Microsoft's operating system platforms the preferred choice for Enterprise and Embedded markets.

SRG Infotec to consider acquisition of stake in V-Soft Services,EL Net 3L

The Board of Directors of SRG Infotec Ltd will meet on September 21, 2000 to consider 1. Acquisition of equity stake in V-Soft Services Private Ltd 2. Acquisition of equity stake in El Net 3L Ltd The Board of Directors may also discuss/consider acquisition of stake in other companies under negotiation

Crest Communication to seek RBI/FIPB approval for acquisition of an animation studio

A meeting of the Board of Directors of Crest Communication Ltd will be held on September 16, 2000 to consider the following 1. To seek approval of Reserve Bank of India and FIPB for the strategic acquisition of an animation studio in USA 2. To identify and finalise strategic partner for the companys wholly owned subsidiary at Singapore 3. To form a joint venture with a South Indian Television producer and invest in the equity of the same

MICO to buy-back shares equity shares at a price not exceeding Rs 4000/- per share

At a meeting of the Board of Directors of the company held on September 14, 2000 the Board has approved and commended to shareholders for their approval/authorisation to buyback up to 200000 equity shares of the company from existing shareholders on a proportionate basis through tender offer or from the open market the aggregate not exceeding 5.55% of the existing paid-up capital of the company to be financed out of the free reserves of the company at a maximum price not exceeding Rs 4000/- per equity share such that the aggregate consideration for the shares bought back not exceed 25% of the capital and free reserves of the company. The Board also constituted a committee of the Board of Directors and authorised the said committee to finalise the terms of the buyback and take all steps/actions as may be necessary to give effect to the decision of the Board

Omega Interactive to consider setting up a subsidiary

Omega Interactive Technologies Ltd. has informed BSE that the Board of Directors of the company is proposed to be held on September 21, 2000 to inter alia decide on the setting up of a wholly owned subsidiary in the USA.

Wipro announces organisational changes

Wipro today (September 14, 2000) announced organisational changes that will power the company's global ambitions and change Customer expectations in a rapidly evolving market. Arun K Thiagarajan Vice Chairman, Wipro Ltd, will retire from December 1, 2000, after having successfully put Wipro's domestic Infotech business back on track, and fulfilling his charter of developing young succession from within Wipro. He will however, continue his association with Wipro as Chairman, Wipro e-Peripherals Ltd., the country's largest employee owned company where Wipro has a 39% stake, and as Vice Chairman, Wipro Net Ltd., the Corporate and Retail net Kracker ISP business. Suresh Vaswani, currently Chief Executive, 01markets.com, has been appointed as President, Wipro Infotech business, effective October 1, 2000 reporting to the Chairman, Wipro Corporation. Having jointed Wipro from IIM Ahmedabad campus in 1985, the key positions he has held in Wipro include Chief Executive of Wipro Acer and of Wipro Computers and System Integration. He will continue to be responsible for 01markets.com, and be a member of Wipro Corporate Executive Council. Wipro Technologies, with almost 50% of its revenues coming from the global telecom and Internet markets, will set up three separate business groups for enlarging focus on the emerging global telecom and internet markets. The Telecom & Internetworking Solutions division will address the market opportunities in the telecommunications; data communications and the emerging internetworking opportunities. This will be lead by Dr.A.L.Rao as President, Telecom & Internetworking Solutions. Wipro Technologies has been in this segment for the last decade and is the largest Software services company from India in this market. The embedded & Internet Access Solutions division will address the opportunities of computing platforms, embedded software for products in a wide range of industries and emerging access devices This will be led by M Divakaran as Chief Executive, Embedded & Internet Access solutions. Wipro has been doing cutting edge work in the embedded area and has alliances with leading global organisations such as ARM and Syrebian. The projects done cover applications ranging from embedding applications in different processor boards to WAP enable devices for internet telephony. A Single minded focus will ensure speed to market advantage to it's consumer electronic customers with development of peripheral softcores around ARM processors. The Telecom & Internet Service Providers division will address the service provider market through systems integration, software development, network management and other remote telecom services. Led by TK Kurien as Chief Executive, Telecom & Internet Service Providers Solutions, this division will work with professional service arms of product companies to offer these solutions to service providers. This is a new initiative from Wipro and will make inroads into an entirely new and vast market which is growing rapidly due to de-regulation and emergence of new technologies. Wipro has already notched up some new wins in this segment with customers like AT&T Sonera, Enron and Globix. TK Kurien will, in addition, continue to hold his responsibilities as Managing Director, Wipro Net Ltd, the Corporate and Retail netKaracker ISP business. To provide higher focus on evolving technologies spanning the technology, service provider and enterprise markets, creating a knowledge management system and building competencies in specific technologies by setting up COE's (Centres of Excellence) in various focus areas, Wipro announced Ramesh Emanl as the Chief Technology Officer of Wipro Technologies. Wipro Technologies has also announced V Balakrishnan as Vice President, finance and Soumitro Ghosh as Vice President, Strategic Marketing.

Dr Reddy's acquires 3 brands from Dai-Ichi Karkaria

Three brands in the segment of women's health have been acquired by Dr. Reddy's Laboratories Ltd from Dai-Ichi Karkaria Ltd, Hyderabad. The brands are Dinoripe Gel (Dinoprost) for cervical ripening; Deviprost (carboprost) for postpartum hemorrhage; and PG Tab (Dinoprost) for inducing and augmenting labour. Dr. Reddy's has also entered into an exclusive manufacturing agreement with the same company. Under the agreement, Dai-Ichi will continue to manufacture the acquired products. The acquisition and future planned launches will place Dr.Reddy's in a commanding position in the therapeutic area of women's health, states company Chairman Dr.Anji Reddy. The bulk drug for making these products are imported by Dai-Ichi under an exclusive arrangement, as the are currently not available in India. Until these acquisitions, Dr. Reddy's participated in the women's health segment through a selection of antibacterial, antacid-antiulcerant, pain control and multi-vitamin products. Dr.Reddy's mounted its thrust on this area in 1997 by acquiring the Styptic range from Dolphin Laboratories. Subsequently, the company launched Denfos for post-menopausal osteoporosis and Velocit ,a one-step home pregnancy testing kit. Safe child delivery is one of the main concerns that Dr.Reddy's had wanted to address in women's health. The most effective drugs in this area are complex molecules called prostaglandins. Dr.Reddy's had considered synthesising these compounds by itself before the opportunity arose for acquiring these formulations. Dai-Ichi had manufactured and marketed these formulations for more than a year in some parts of the country. Last year's revenues to Dai-Ichi from these products were Rs 8 million. With the acquisition of these products Dr Reddy's has plans to generate a revenue of over Rs 60 million from these products in the very first year. Deviprost, especially, has the potential to save a lost of lives of women who die of bleeding during childbirth. Pregnancy and childbirth related deaths and disability account for one-fifth of all deaths and disabilities in women in India. Dai-Ichi Karkaia Ltd has a turnover of Rs 580 million for 1999-2000. The company manufactures and markets bulk actives and formulations.

Vans Information grants options under ESOS

The Board of Directors of Vans Information & Investor Services Ltd. has granted 5300 option under ESOS with each option entitling the holder thereof to apply for and be allotted ten equity shares of the company of Rs.10/- each. Exercise price would be Rs.20.20 being the closing price of the share on the Stock Exchange, Mumbai on 30.08.2000.

Shareholders approve amalgamation of Sabras Investment with Tata Chemicals

As directed by the High Court of Mumbai, the meeting of the equity shareholders of the Tata Chemicals Ltd (TCL) was held on 30.08.2000,where shareholders TCL have approved the scheme of amalgamation of Sabras Investment and Trading Co. Ltd. with the company.

Pfizer MD to retire on Dec 31, 2000

The Managing Director of Pfizer Ltd. Mr. Ian Young has announced his intention to retire effective December 31, 2000.Mr Young retires after completing 35 years of service in Pfizer Inc and its affiliates. The successor to Mr. Young is not yet determined.

IDBI Bank launches MoneySmart -smart card

IDBI Bank Ltd. is a leading private sector bank, with presence in all the major cities of India. The branches of the Bank are connected through VSAT and leased lines, thereby enabling the customers to operate their accounts on-line, real-time from any of the branches of the Bank. The Bank has primarily been a corporate bank with a current asset base of Rs 50000 million. However, in recent times, in addition to serving the corporate sector, the Bank has adopted retail banking as one of its thrust areas. The Bank has rolled out slew of assets and liabilities products to the retail segment. Among the various products, thanks to the Bank's on-line, real-time connectivity, Money Line - Anywhere banking and Money Xpress - Electronic Funds Transfer facilities are reported to be the most popular. In line with its objective to expand the range of services offered to the retail segment, the Bank, today, (September 14, 2000) launched MoneySmart -a smart card for commercial transaction is Mumbai. Now Mumbai will witness the arrival of value stored MoneySmart cards. The MoneySmart card makes payment for small value purchases convenient. It is a smart alternative to carrying and paying cash - without actually carrying cash. MoneySmart has an embedded microprocessor chip that turns the card into a reservoir of information, with the capability to store cash in an electronic from (e-cash) in addition to personal data. It is different from charge cards, credit cards and debit cards. It is a PIN secured photo card with a stored value feature. The card has all necessary security measures and is completely tamper resistant. IDBI Bank is the first bank to introduce a smart card, which is SMARS (Smart Rupee System) Compliant. The key objectives for the introduction of smart card are: Introduce ease and convenience in carrying large sums of money Facilitate micro value purchases Ensure safety and security in handling large sums of money stored on the card Get rid of the problem of soiled notes. Help the banking system reduce the strain and attendant costs of counting, sorting, storing and distributing small coins and currencies and finally, to held banks effectively deploy such idle cash stored at homes. The cards come with a host of benefits to the cardholders viz discounts, gifts & MoneySmart loyalty program. The list of benefits will expand over a period. The Bank will migrate this product to Pune and other centers shortly. IDBI Bank foresees a tremendous growth for the MoneySmart card as it transcends across all the sections of the society. A person does not need to carry currency and there is no requirement for evaluation of credit worthiness. Even from social point of view, the successful penetration of MoneySmart in the Indian market place will reduce the burden on RBI for the printing new currency, drastically.

BSE imposes Special Margin on 3 scrips

BSE has imposed a special margin of 25% on the following 3 scrips with effect from September 14, 2000 1. 32351 AKSH OPTIFIBRE LTD 2. 26015 KEMROCK INDS & EXPO LTD 3. 26588 PHOTOQUIP INDIA LTD

Infosys Technologies and Microsoft strike worldwide strategic alliance

IT Consulting and software services giant Infosys Technologies and Microsoft Corporation, the worldwide leader in computing software, today (September 14, 2000) announced a strategic global relationship for developing, promoting, and delivering a comprehensive portfolio of Infosys business solution offerings and enterprise services built using the Microsoft NET Enterprise Server platform. The relationship combines Infosys proven solution development expertise with the scalability and reliability of Microsoft's platform to enable the delivery of robust, cost-effective e-business solutions to customers. The announcement was made at a press conference address by N R Narayana Murthy, Chairman and CEO, Infosys Technologies Ltd. and Bill Gates,Chairman and Chief Software Architect, Microsoft Corporation. As part of the strategic global relationship, Infosys and Microsoft will develop business solution offerings in areas such as Customer Relationship Management (CRM), eCommerce, Financial Services, Insurance and Retail. Microsoft India and Infosys will also work closely together to bring Infosys world-class solutions development and delivery capabilities to large Indian enterprises as well as to establish Infosys Competency Center which will showcase high-end solutions developed on Microsoft technologies. Microsoft will provide Microsoft Consulting Services (MCS) resources and technical training to further the technical skills of Infosys consultants on Microsoft technologies. The two companies will also undertake joint marketing initiatives and account planning. Bill Gates, Chairman & Chief Architect, Microsoft Corporation USA said, Infosys continues to build a strong solution development reputation in the US and other international markets and brings a huge pool of resources skilled on Microsoft technologies. Together, we can deliver world class e-business solutions to our existing and future customers. Microsoft is committed to working with Infosys on innovative Windows 2000 and Microsoft. Net based solutions to create business value for our customer worldwide, said Geoff Nyheim, General Manager of Global partners in the Enterprise and partner Group at Microsoft Corporation. Infosys accelerated investment in Microsoft focused skills, development methodologies and industry applications is well timed to meet the explosive demand for a new, .Net generation of services and solutions. Infosys has developed and implemented solutions on the Microsoft Enterprise Solutions Platform. These solutions have been developed for a number of customers including CBS Sportsline, Dell, Aon Corp, Franklin Templeton Investments, and Nordstrom using Microsoft platforms.

SSI to consider acquisition of US based company

A meeting of the Board of Directors of SSI Ltd. has been convened on September 18, 2000 at Mumbai to consider the acquisition of a software company in USA. If approved the Board would also consider the manner of financing the acquisition which could involve a payment of cash combined with an issue of shares /GDRs.

Money

Rapid Information on Stocks & Corporates

Tell us what you think of this report