ADR - Indian companies as of September 17

US Index Report Date Sep 17 2004
DJIA	Dow Jones Industrial Average	10284.46	+ 39.97
NASDAQ	Nasdaq Composite	1910.09	+ 6.01
Indian ADRs on NASDAQ and NYSE Date Sep 17 2004
IBN	ICICI Bank Ltd	$ 13.51	+ 0.11
INFY	Infosys Technologies Ltd	$ 57.41	- 0.36
REDF	Rediff.com India Ltd	$ 7.97	+ 0.09
SIFY	Sify Ltd	$ 5.86	+ 0.24
VSL	Videsh Sanchar Nigam Ltd	$ 7.28	+ 0.01
WIT	Wipro Ltd	$ 17.75	- 0.20
RDY	Dr.Reddys Laboratories Ltd	$ 17.38	+ 0.26
SAY	Satyam Computer Services Ltd	$ 23.64	- 0.83
HDB	HDFC Bank	$ 29.80	+ 0.23
MTE	Mahanagar Telephone Nigam Ltd	$ 6.82	+ 0.03

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Three more Indian companies to list on NASDAQ
Beijing: According to officials from the NASDAQ, three more Indian companies from diverse sectors like banking, airline, biotechnology and manufacturing are expected to be listed on the NASDAQ this year.

According to the officials, some of the sectors that have shown keen interest in NASDAQ are airlines, bank, manufacturing, consumer products, biotech, he said while declining to identify the companies.
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FIIs net buyers in equities at Rs 687.2 cr
Mumbai: The foreign institutional investors (FIIs) have recorded net purchases of Rs.687.2 crore in equities for the trading week ended September 17. Mutual funds (MFs) for the reporting period were net sellers at Rs.80.53 crore.

The foreign funds netted inflows of Rs.279.7 crore in the debt market for the period under review, according to data available with Securities and Exchange Board of India here. The mutual funds were net sellers in the debt market at Rs.46.37 crore. The foreign funds were net buyers in equities on all trading days of the week.

The Stock Exchange, Mumbai, (BSE) during the week under review saw the Sensex shooting up by 3.56 per cent to close at 5561.15 points.
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Row in posting SAT orders on SEBI site
Mumbai: Since January 2004, the Security and Exchange Board of India's Web site has stopped carrying the orders passed by the Securities Appellate Tribunal (SAT). According to SEBI, they have done this is on instructions of the now expanded, three-member tribunal, headed by Justice Kumar Rajaratnam. While SAT claims that no such communication has been made to SEBI.

SAT has clarified that the orders are public documents and available for perusal any time. However, the tribunal cannot have a Web site of its own to publish these, as that, according to SAT would be contrary to judicial discipline. While SEBI claims that it received 'oral' instructions from SAT not to publish these orders SAT in turn says that its orders are public documents and no permission is required to publish these.

Publication of SAT's orders is crucial, not just to maintain the transparency of the tribunal, but also since the legal precedent set in these orders will have serious ramifications on the cases that are waiting to come up before the tribunal.
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Wockhardt launches FCCB issue
Mumbai: Wockhardt Ltd has informed BSE that the Company has launched an issue of Foreign Currency Convertible Bonds (FCCB) of US $ 100 million which is inter alia subject to the approval of Board of Directors and shareholders of the company.
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Pritish Nandy to raise FII limit
Mumbai: Pritish Nandy Communications Ltd has informed the BSE that at meeting of Board of Directors of the company held on September 17, Board has decided to convene Extraordinary General Meeting of the company on October 20, 2004 to consider and increase the ceiling limit for FIIs investment under the portfolio investment scheme from 24 per cent to 60 per cent.
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Dwarikesh Sugar prices IPO at Rs60-72
Mumbai: Dwarikesh Sugar Industries Ltd, a profit-making dividend paying conpany, has filed its draft prospects with the Securities and Exchange Board of India (SEBI) to enter the capital market with a maiden public issue of 50-lakh equity shares (face value of Rs10 each) within a price band of Rs60 to Rs72 per share.

The company, which had commenced production in 1995 by setting by a 2,500-TCD to 3,000-TCD sugar plant in the sugarcane rich belt of central Uttar Pradesh in district Bijnor, is now able to increase the production capacity to 6,000-TCD with a captive power plant that recently started supplying surplus power to the state power distribution grid.

The proposed issue is to part-finance the distillery project balancing equipments and to set up a marketing unit for making export quality sugar. This would enable the company to reach out to the customer directly in the form of sugar in pouches.
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Balaji Telefilms to alter MoA, AoA
Mumbai: Balaji Telefilms Ltd has informed the BSE that at the Extraordinary General Meeting of the company held on September

17, the members have approved the following: -
i) Increase in authorised share capital of the company
ii) Alteration of Memorandum of Association
iii) Alteration of Articles of Association
iv) Preferential Allotment of shares to Asian Broadcasting FZ-LLC
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Fortis launches three schemes
Mumbai: Extending its product profile for providing customised investing services, Fortis Securities Ltd has launched Portfolio Management Services with three schemes for investors.

The schemes -- Tortoise, Panther and Hawk Eye -- have been launched keeping in mind the interests of various investors.

While the Tortoise aims to achieve a gradual growth in the portfolio value over a period of time by investing in blue-chip shares, the Panther aims to earn higher returns from its portfolio by taking aggressive exposures in some sectors or stocks. Hawk Eye, on the other hand is aimed at moderate returns by investing in mid-cap companies.

Fortis, promoted by the Ranbaxy group, provides both fund-based and non-fund based financial services, which include broking, depository participant services and advisory on mutual fund investments.
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