Corporate Moves

* Balaji Telefilms has announced that Nine Network Entertainment, a wholly-owned subsidiary of Nine Broadcasting India, is being merged with it in a stock-swap deal.

* Binny Ltd may be split into two entities -- Binny Ltd and Binny Karnataka Ltd -- under a draft rehabilitation scheme that is under the consideration of the BIFR.

* Centurion Bank has pulled out of the three-way tie-up with Canada Life Insurance Co. and the Ardee group for a proposed insurance venture, due to certain RBI regulations regarding its shareholding in the venture.

* DSQ Biotech has decided to demerge its manufacturing and biotech operations into two different companies.

* Exide Industries proposes to acquire share-holding in two lead acid storage battery companies, which are currently operating out of Singapore and Sri Lanka.

* Hero Honda has announced that it will expand its capacity from one million two-wheelers to 1.25 million by investing around Rs 100 crore. It also proposes to introduce two new models of 100 cc motorcycles next year.

* Hyundai Motor India Ltd proposes to commence its second round of investments of Rs 1,500 crore in India, in the next few months.

* Infotech Enterprises Ltd announced that it has been awarded a multi-million dollar contract for providing GIS Services by the Dutch multinational group, FUGRO.

* The Mahindras have increased their stake in Gesco Corporation to over 18 per cent by acquiring the 6.34 per cent held by the International Finance Corporation (IFC), at Rs. 44 per share.

* NIIT Ltd has announced that it is proposing an ambitious growth plan that would enable it to reach the Rs 10,000-crore mark in six years, and that its FastForward Plan would bring an eight-fold increase in sales.

* Pentamedia Graphics Ltd has plans to hive-off its webcasting division, NumTV, into a separate entity in a move that is intended to give it greater focus and accelerated growth.

* State Bank of India (SBI) proposes to raise Rs 2,500 crore by way of subordinate debt (Tier II) in two tranches, as capital, in 2000-01.

* Snowcem India Ltd has acquired a gold fabrication and atomiser plant from Geekay Exim Ltd for Rs 50 crore, in an all-stock deal, in its bid to make a foray into gold manufacturing.

* Tata Engineering (TELCO) expects to save nearly Rs 300 crore in the financial year 2000-2001, through various cost-cutting measures.

* Wipro Ltd has formed a strategic alliance with agentGO to jointly develop and deploy mobile applications for Global 2000 and emerging enterprises.