Cyber Media and United Business Media merge

Cyber Media India Ltd has informed the following Press Release:

"United Business Media LLC (UBM) & Cyber Media India Ltd on April 04, 2008 has announced that Cyber Media has acquired the entire equity in UBM-CyberMedia LLC for an undisclosed sum and that the business will become a wholly-owned unit of CyberMedia doing business as CyberMedia LLC. UBM LLC will continue to provide services to support and enhance the products and services being delivered by CyberMedia.

Formerly a 50:50 JV, UBM-CyberMedia LLC has been publishing a monthly magazine Global Services, a website www.globalservicesmedia.com and produces events for the global outsourcing and off-shoring community. All products and services are published under the brand name of Global Services and endeavor to facilitate the global outsourcing industry by providing information and relevant platforms for buyers and sellers of professional services. Launched in February 06, the magazine has a print order of 30,000 amongst buyers of professional services in North America and Western Europe; the website attracts 21,000 unique and relevant professionals every month; and the joint venture has conducted close to 10 successful events bringing together this community. "The response from our primary stakeholders (readers and advertisers) indicates that this platform has been very successful, and has achieved its objective in less than 18 months. Going forward. our focus will be to ensure that the Company increase interaction between this community by stepping up our online and events activities. The Company will also step up our presence in Western Europe through the online medium" said Hoshie Ghaswalla, Managing Director, Global Services.

The Global Services team will continue to remain co-located in the United States and India. It has a presence in other service provider and buyer geographies through a network of freelancers and consultants and this will be strengthened in the immediate future.

"CyberMedia is the largest specialty media player in South Asia and has embarked on a global expansion plan - Acquiring the entire equity in this joint venture is a part of this larger plan to ensure that CyberMedia's global footprint in the specialty media space" said Pradeep Gupta, Chairman CyberMedia Group."

I-flex to change its name Oracle Financial Services

i-flex Solutions Ltd has announced that the Board of Directors of the Company at its meeting held on April 04, 2008 has approved a proposal to change the name of i-flex solutions Ltd to Oracle Financial Services Ltd, subject to regulatory and shareholder approvals.

The proposed new name reflects the Company's close strategic and operational alignment with its parent, Oracle Corporation, which owns 81 percent of the Company. Oracle is the #1 enterprise software provider and counts 10 of the top 10 banks, insurance Companies and securities firms among its more than 8,500 financial services customers across 145 countries.

The new "Oracle Financial Services" brand represents:

• The industry's most comprehensive range of packaged software and services solutions for financial services across banking, capital markets, and insurance-all from Oracle.

• Deep domain expertise in the financial services industry coupled with world-class software development and support experience

• A unique combination of integrated and best-of-breed business solutions for the industry

• A business process-oriented approach that aligns IT initiatives with business requirements and enables an evolutionary transformation of IT infrastructure

• A strong commitment to open systems and industry standards, helping to ensure interoperability

• A partner-oriented approach that enables partners to deliver increased value around the solutions offered by Oracle Financial Services

The new branding strategy demonstrates the synergies of scale, resources, expertise and efficiency across the two organizations. The current management team under N.R.K. Raman, CEO and Managing Director, will continue to run the operations of the Company.

"The new branding reflects the importance that Oracle attaches to the financial services sector," said Charles Phillips, Oracle President and Director of i-flex solutions Ltd., "Oracle Financial Services Ltd will be a focal point for Oracle's investment in innovation and leadership in financial services, and we are delighted to put the power and credibility of the Oracle brand behind this strategic initiative."

"Our new corporate identity represents a unique combination of the industry-leading solutions portfolio and deep domain expertise of i-flex and the global capability, credibility, scale and technology leadership embodied by the Oracle brand, coming together to deliver comprehensive solutions to financial institutions around the world," said Rajesh Hukku, Chairman, i-flex solutions Ltd., and General Manager, Oracle Financial Services Global Business Unit.

N R K Raman, CEO & Managing Director, i-flex solutions Ltd., also commented, "The new identity will enable us to better leverage the global reach, infrastructure and brand visibility of Oracle to accelerate our growth. This is an important enabler of our mission to help financial institutions around the world excel through the effective use of information technology."

Nettlinx applise for broadcasting license

Nettlinx Ltd has informed that one of the Company's 100% wholly owned subsidiary Company i.e. M/s. Nettlinx Channel Pvt Ltd, Hyderabad applied to Ministry of I&B for the License to set up Broadcasting Teleport and T.V. Channels.

As per one of the conditions stipulated under Foreign Exchange Management Act, the holding Company can not holding more than 24% of Foreign Share Holding. In this connection the Company bring to notice that the Company is having Foreign shareholding of 1.05% as on August 17, 2007.

As per the request of Foreign Exchange Management Act, the Company undertake that foreign shareholding in the Company i.e. M/s Nettlinx Ltd will be Freezed at 24%.

Religare Enterprises to acquire Hichens Harrison

Religare Enterprises Ltd has informed that Board of Religare Enterprises Ltd (REL), Religare Capital Market Pvt Ltd (100% subsidiary of REL) and Hichens Harrison announce that they have reached an agreement on the terms of recommended cash offer for the whole of the Issued and to be issued share capital of Hichens, Harrison & Co. UK.

In this regard the Company has issued the following pres release:

"The Boards of Religare Enterprises Ltd (REL), Religare Capital Markets Ltd (RCML) - (100% Subsidiary of REL) and Hichens Harrison announce that they have reached agreement on the terms of a recommended cash offer for the whole of the issued and to be issued share capital of Hichens Harrison. RCML, intends that, following the approval of the Reserve Bank of India the Offer will be made by a newly incorporated wholly-owned subsidiary of RCML.

The offer is at 285 pence per share cash and values Hichens Harrison at approximately £55.5 million, assuming the exercise of all outstanding Hichens options, representing a multiple of 13.1 times Hichens basic earnings per share for the 12 months ended December 31, 2007.

The Hichens Directors unanimously recommend that all Hichens shareholders accept the Offer, as those Hichens Directors who hold Hichens shares have irrevocably undertaken to do so in respect of their own beneficial holdings, amounting to a total of 2,293,750 Hitchens shares representing in aggregate approximately 13.2% of the existing share capital of Hichens.

In addition certain - other shareholders of Hichens representing 6,720,270 shares approximately 38.66% have also given irrevocable undertakings to accept the Offer.

RCML has also received irrevocable undertakings to accept the Offer in respect of 1,054,698 Hichens Shares, representing approximately 6.07 per cent. of the existing issued share capital. These irrevocable are not binding in the event of a competing offer by a third party which is 10 per cent higher than the Offer.

Accordingly RCML has received in aggregate irrevocable undertakings to accept the Offer of 10,068,718 shares representing approximately 57.93%.

RCML is a wholly-owned subsidiary of Religare Enterprises Ltd (REL), the Indian listed financial services institution that offers a wide range of financial services. REL is listed on the Bombay Stock Exchange and the National Stock Exchange of India and has a market capltailsation of 350 million.

Shachindra Nath, Group COO of REL as Director of RCML commented:

"With the continued growth in the Indian economy, it is likely that a large number of investment opportunities to global institutional investors will be generated. We believe that as a large financial services institution, Religare could play a leading role in this growing market.

The acquisition of Hichens provides Religare with the opportunity of creating a global distribution and execution platform within emerging countries. We are very excited to incorporate Hichens into the REL Group and are confident that we will be able to protect its heritage. The association with Hichens will surely help the Group to emerge as a global player in the financial services market.

About Hichens Harrison & Co. plc

Hichens, Harrison & co. plc is the oldest firm of stockbrokers in the City. The firm was founded by Robert Hichens and was in business in July 1803, shortly after The Stock Exchange was first constitutionally formed. Over the years, the firm's partners have taken an active role in the development of the Stock Exchange, serving both as Chairmen and on the Council.

Unlike most brokers, Hichens, Hanison is not an amalgamation of a large number of firms. No other City stock broking firm has previously survived 200 years in almost its original format and few, if any, will do so in future because of the rapidly changing corporate structures.

Infotech Enterprises announces MoU with Cipet

Infotech Enterprises Ltd has announced that the Company has signed an MOU with CIPET (Central Institute of Plastics Engineering and Technology). The MOU was signed by Mr. B.V.R. Mohan Reddy, Chairman and Managing Director, Infotech Enterprises Ltd and Mr. P Poomalai, Dy. Director, CIPET, Hyderabad.

This is the first ever MOU to be signed by Infotech with an institute which specializes in Plastics. The primary objective of this MOU is to jointly work for the purpose of enhancing the quality of technical education imparted to students of CIPET the field of CAD, CAM & CAE, in related Mechanical, Aeronautical and other branches associated to the nature of works carried out by Infotech. This MOU is valid for a period of three years.

The scope of the collaboration envisages increasing the employability of students by offering internship on live projects at Infotech, conducting special technical lectures by Infotech senior practioners for students at campuses, conducting soft skills development programmes and working with CIPET management towards strengthening the curriculum to align the industry requirements with the institute.

On the occasion of signing the MOU, Mr. B.V.R. Mohan Reddy, Chairman and Managing
Director, Infotech Enterprises Ltd said, "This is a mutually rewarding partnership for
Infotech and CIPET. For CIPET this relationship will ensure that Students are readily
employable and for Infotech creates much needed capacity of quality Engineering Talent."

Mr. B Ashok Reddy, President Global Human Resources and Corporate Affairs, Infotech Enterprises Ltd said, "Besides offering programs on soft skills, we would encourage our senior technical executives to spare their time in imparting knowledge on the latest developments in Technology through a visiting faculty program".

Reliance Energy continues buyback of shares

Reliance Energy Ltd has informed that the Company on April 03, 2008 has bought-back 2,00,000 equity shares of the Company.

Since the commencement of the buy-back on March 25, 2008, the Company has so far bought back 13,80,000 equity shares aggregating Rs 174.56 crore.

The Board of Directors of the Company has approved buy-back of equity shares of the Company up to an aggregate amount of Rs 800 crore.

Geometric to showcase DRAPED methodology

Geometric Ltd has announced that the Company will be showcasing its unique D.R.A.P.E.D.™ methodology for accelerated PLM adoption at the Technology Solutions Expo, Miami from 8-10 April 2008.

Technology Solutions Expo is the premier exposition for information technology organized by the American Apparel & Footwear Association. It offers the latest innovations and best practices for the apparel and other sewn product industries. It is held in conjunction with Material World, the premier fabric, trims and sourcing trade event.

Today, fashion brands, retailers and manufacturers are increasingly investing in PLM solutions to achieve greater collaboration, visibility and standardization across their enterprise and the extended eco-system. PIM helps them accelerate the pace of product development and bring newer products to market much faster.

Geometric's unique D.R.A.P.E.D. methodology has been developed to ensure quick realization of the benefits from PLM investment for the fashion (apparel, footwear, jewelry and accessories) industry. D.R.A.P.E.D., an acronym for Define - Rationalize - Attest - Propose -Execute - Deploy, is a six stage graded methodology. Geometric has successfully accelerated PLM adoption by 20-25% across various implementations, thus demonstrating value delivered by this methodology. The PLM Adoption Maturity Level (AML) framework within D.R.A.P.E.D. facilitates an assessment of the customers’ current maturity, based on which, strategies and a detailed improvement roadmap can be charted out for a phased implementation.

At Technology Solutions Expo, Atul Dhakappa, Practice Head for Fashion Solutions will be making a presentation on leveraging D.R.A.P.E.D. to help organizations "go-live with PLM in the same season". The presentation is scheduled for April 9, 2008 at 2 pm in the Technology Solutions Theater. Geometric will be showcasing its offerings in the fashion domain at booth #230.

With significant experience in developing PLM products for fashion for five leading software OEMs and implementing PLM solutions for several end-customers, Geometric has been delivering value to fashion brands, retailers, and manufacturers. Geometric offers solutions for PLM adoption as well as Outsourced Product Development (OPD) for the Fashion industry.

SREI Infrastructure Finance announces JV with BNP Paribas

SREI Infrastructure Finance Ltd has informed that the Joint Venture ("JV") between SREI Infrastructure Finance Ltd ("SREI") and BNP Paribas Lease Group which was announced last year, will start operations as of April 03, 2008. SREI, one of the leading equipment finance Companies in India, specialized in the infrastructure sector, had entered with BNP Paribas Lease Group, a 100% BNP Paribas subsidiary focused on equipment financing — related services, into an agreement wherein the asset finance division of SREI is brought into a newly formed JV. The operation has been made through a reserved capital increase for BNP Paribas Lease Group towards its acquisition of a 50% stake in the JV whilst SREI remains holder of the remaining 50% of the equity capital.

BNP Paribas Lease Group brings to the JV its specialized equipment finance skills, its international experience combined with the global strength of BNP Paribas. The JV will also benefit from the significant brand value that SREI has already created in the Indian infrastructure equipment sector.

SREI is already the largest player in the financing of infrastructure equipment in India and the partnership with BNP Paribas Lease Group is aimed at increasing further the leadership of the business in its core market whilst expanding the product line further into financing of agriculture, information technology and medical and other equipment. Furthermore, this partnership is also expected to result in a reduction in the cost of funding the operations.

The JV has received all necessary legal and statutory clearances.

Speaking on this occasion, Hemant Kanoria, Vice Chairman & Managing Director of SREI, said "This joint venture between BNP Paribas, one of the largest global banking institutions, and SREI will result in strengthening one of the strong equipment financing institutions which would immensely benefit all stakeholders. In SREI's journey towards being the largest infrastructure financial institution with all financial products and services, it is an important milestone. With this, our asset base as a group will multiply into billions of dollars."

SRF announces commissioning of Wind Turbine Generators

SRF Ltd has informed that 6 Wind Turbine Generators have been commissioned in Tamil Nadu as on March 31, 2008. These will produce in aggregate 9.3 MW wind captive consumption of the Company.

The remaining 3 Wind Turbine Generators for a capacity of 4.65 MW are under commissioning.

Dr Reddy's acquires Jet Generici Srl. Acquisition to establish Generics business in Italy

Dr Reddys Laboratories Ltd on April 03, 2008 has announced that it has acquired Jet Generici Sri, a Company engaged in the sale of generic finished dosages in Italy. The deal has been completed via Dr Reddy's Italian subsidiary, Reddy Pharma Italia SpA, which has been engaged in building a pipeline of registrations since its incorporation. The acquisition provides access to an essential product portfolio, a pipeline of registration applications, and a sales and marketing organisation. Financial terms and conditions of the transaction are not being disclosed.

Commenting on the acquisition, Mr. VS Vasudevan, President & Head - Europe Operations said, "Dr Reddy's has taken a significant step forward by establishing its business in the third largest pharmaceutical market in Europe. The acquisition has been well timed, since Dr Reddy's will be able to immediately supplement the Jet Generici portfolio via its own pipeline. We already have registration for one significant Dr Reddy's product, and a strong pipeline of registration applications. We believe that this strategic investment will generate substantial opportunities for long-term value creation in one of the fastest growing generic markets of the world."

Bharat Electronics announces provisional results

Bharat Electronics Ltd (BEL) has announced that the Company has recorded a turnover of Rs 4114 crores (provisional) for the year 2007-2008 as against last year’s turnover of Rs 3952 crores.

The estimated Profit Before Tax is Rs 1109 crores, as against last year's figure of Rs 1052 crores. BEL achieved exports of US $15.4 million, which is an increase of 32 per cent over last year's figure of US $11.6 million. The turnover per employee for 2007-08 is Rs 33.26 lakhs as against last year's figure of Rs 31.99 lakhs while the value added per employee for 2007-08 is Rs 15.5 lakhs as against last year's figure of Rs 14.5 lakhs.

The order book as on April 01, 2008, is estimated to be around Rs 9,450 crores. Some of the significant orders executed during the year include supply of STARS V Frequency Hopping, a VHF manpack transreceiver; Advanced Land Navigation System for tanks; a command control system for the Artillery Wing of the Indian Army; Central Acquisition Radar for the Air Force; Passive Night Vision Device (both monocular and binocular); and Doppler Weather Radar for prediction of meteorological data.

More than 20 new products were introduced and supplied during the year. The new products
include GMD Mark II, a laser-based gap measuring device; Doppler Weather Radar;
Operations Cabin, a type of shelter used by the Army; Eye Safe Laser Range Finder; and
Optronic Pedestal, an opto electronic sensor and control system for the Navy