Bizbits

HLL gets Y2K complianceMUMBAI: Hindustan Lever Ltd HLL has achieved year 2000 Y2K compliance in all its internal operations, having m...

HLL gets Y2K compliance

MUMBAI: Hindustan Lever Ltd HLL has achieved year 2000 Y2K compliance in all its internal operations, having met its self-imposed deadline of October 31, 1998. The two-year operation involved checking information technology IT systems, factory/process systems, telecom systems, networks at 67 factories, four sales branches, 121 depots, research centres and all offices across 350 locations, with a total expenditure of Rs six crore, a company release said here today. The Y2K strategy was devised on the basis of a detailed quot;gap analysisquot; of all systems in use across different centres and rather than repair the non-compliant solutions. The company decided to accelerate the pace of its IT implementation so that the entire organisation would be at the same level of it sophistication, the release said.

Blue Star gets shareholders nod

MUMBAI: In an extraordinary general meeting held recently, the shareholders of Blue Star Ltd have approved hiving off internationalsoftware divison into a separate company 8212; Blue Star Infotech Ltd . The assets of the software divison will be transferred to the new company at book value. Shareholders of Blue Star will get 1 share of BSIL and 3 shares of BSL in place of every 4 share held by them.

Image Studio 8217;98 expo in city

MUMBAI: The Cosmetology Society-India, a formal body of dermatologists, cosmetologists and beauticians, is organising a two day workshop on December 4 and 5, 1998 at the World Trade Centre, Mumbai. The workship will be part of Image8217;98, India8217;s first international beauty fare bringing together a large number of manufacturers, suppliers and users in the beauty amp; cosmetics industry.

NSE Mibid/Mibor

MUMBAI: The National Stock Exchange NSE today launched the one month and three month Mibid/Mibor which would be the first of its kind as reference rates in the term money market. The daily information dissemination from now on would include the one month and the three month NSE-Mibid/Mibor along withthe overnight and the 14 day NSE-Mibid/Mibor with the corresponding standard deviations, the NSE said in a release. The dissemination of the term money rates would be extended to the whole market from today through the NSE-WDM trading system. The daily benchmarks for the money market would be released under overnight NSE-Mibid/Mibor as at 0940 hours and respective standard deviation.