Corporate Moves

*Atlas Cycle Industries has announced that it has proposed a restructuring plan for increasing the profit margin through backward integration by setting up a cold-rolling steel mill.

*Alembic has got the nod for sale of Roxithromycin in EU countries. The patent of Roxithromycin expires in January 2001 in Germany, where it can sell the product to generic manufactures.

*Compaq Computer India and Indiamarkets.com have announced a strategic alliance to extend the benefit of Compaq's online store, CoolDukaan to Indiamarkets's subscribers.

*Elbee Services Ltd has entered into a memorandum of understanding (MoU) with DHL Worldwide Express, which will enable it to provide global services to its customers by offering multi-carrier options.

*Geometric Software Solutions has signed a partnership agreement with the US-based Cohesia Corporation, where Geometric would provide software services for product development and integration to Cohesia.

*Global Tele-Systems has entered into MoUs with several leading banks for providing ASP and Technology and Software Support, and activities related to that continue un-affected.

*IDBI has, in its role as the major secured lender, decided to not approve the proposed hive-off of the cement business by Binani Industries into Binani Zinc.

*Kanika Infotech has acquired a 10 per cent equity stake in a German firm, MicroData Systems for a consideration of Rs 74 lakh, and a separate joint-venture company will be created for the strategic tie-up.

*Larsen and Toubro has commissioned its newest cement plant in Tamil Nadu on December 13, 2000. The plant, which produces cement from clinker, has a capacity of one million tonnes per year. This increases the company's total cement capacity to 15 million tonnes per year.

*Saregama India Ltd, an RPG group company, has decided to merge its two overseas subsidiaries -- Saregama Plc and RPG Global Music Ltd, in a move intended to expand its worldwide operations.

*Sundaram Finance Ltd has announced the merger of Sundaram Finance Services Ltd, a subsidiary, with the company, after obtaining the consent of the shareholders and the approval of Madras High Court.

*In an intra-group restructuring move, Tata Engineering has made a complete exit from Tata Elxsi, thereby allowing Tata Sons to increase its stake in the company.

*Tata Finance is to issue 35 lakh equity shares of Rs 10 each at a premium of Rs 65 per share. If investment is made before the record date for the rights Issue, the investor would be eligible to subscribe to cumulative convertible preference shares.

*Top Cassettes has decided to offer 19,00,000 equity shares of Rs 10 each at a premium of Rs 19.41 per share on preferential basis, to Top Media Entertainment Ltd (TMEL) for the merger.