FII Activity On March 30,2007

The gross equity purchased was Rs.4050.20 (in crores), and the gross debt purchased was Rs 6.10(in crores).The gross equity sold was Rs.4409.20(in crores), and the gross debt sold was 320.40(in crores). The net investment of equity was -359(in crores) and the net debt investment was Rs-314.30(in crores).

IOC To Invest Rs 160cr On Automating Bunks

Bangalore: The Indian Oil Corporation (IOC) mulls to automate 1,000 fuel stations in 2007-08 at a cost of Rs 160 crore to monitor fuel dispensation and to prevent adulteration. During the first phase, 1,000 bunks will be automated. It intends to automate another 1,000 fuel stations in the second phase. Select fuel stations, out of the 16,000 fuel stations, operated by IOC and IBP will be automated. Automation will also enable IOC monitor the fuel stock at each fuel station and in turn assist it in creating indents for fresh orders.

FII Activity On March 29,2007

The gross equity purchased was Rs.3716.40 (in crores), and the gross debt purchased was 143.10in crores).The gross equity sold was Rs.3196.20 (in crores), and the gross debt sold was nil. The net investment of equity was 520.20(in crores) and the net debt investment was Rs143.10(in crores).

ACC Plans Rs 4,000 Crore Investment To Up Capacity

Mumbai: ACC Ltd will invest Rs 4,000 crore over the next three years to expand its cement capacity to 27.5 million tonnes from 19.91 mt now. The investments comprise Rs 1,487 crore to increase the clinkering capacity at the new Wadi plant, additional grinding facility and a captive power plant of 50 MW in Karnataka. The capacity expansion and modernisation of Lakheri plant in Rajasthan would be completed by next month, he said at the company''s annual general meeting. The Government has been appealing to cement manufactures not to increase prices. ACC is now in the fold of Swiss cement maker, Holcim, which holds 37 per cent equity in the company. Holcim also controls Gujarat Ambuja from whom it first bought 14.4 per cent stake in ACC

FII Activity On March 28,2007

The gross equity purchased was Rs.2184.70 (in crores), and the gross debt purchased was Rs nil. The gross equity sold was Rs.2104.20 (in crores), and the gross debt sold was nil. The net investment of equity was 80.50(in crores) and the net debt investment was nil.

TCS & Tata Group Sells 50% Holding In JV To Sitel Corporation For US $ 22.2 Million

Tata Consultancy Services Ltd (TCS) has informed that the Company and Sitel, a global Business Process Outsourcing (BPO) Leader, announced that the two parties had concluded an agreement to transfer the ownership of the Companys 40 per cent stake in SITEL India to US-based Sitel Corporation for a consideration of USD 17.732 million.Sitel India is a joint venture between the Tata Group and Sitel Corp, formed in 2000, with both parties holding 50% of the equity. Tata International Ltd, which holds a 10 per cent stake in the JV, has also agreed to sell its stake. This joint venture Company provides voice-based contact center BPO service from India. With over 4,000 Professionals, the JV is a provider of fully integrated customer care and back office processing services operating from five centers located in Mumbai, Hyderabad, Chennai and Gurgaon.

FII activity On March 27,2007

The gross equity purchased was Rs.2707.20 (in crores), and the gross debt purchased was Rs 118.90(in crores) The gross equity sold was Rs.2028.80(in crores), and the gross debt sold was 9.90(in crores). The net investment of equity was 678.40(in crores) and the net debt investment was Rs109(in crores).

DLF Ties Up With UAE Firm

New Delhi: New Delhi-based real estate builder DLF and Nakheel, a large property developer from the UAE, on March 26, inked a 50:50 joint venture for two integrated townships spread across 40,000 acres in India with an initial investment of $10 billion. Nakheel''s portfolio includes several land reclamation projects (creation of land where there was once water) in Dubai such as The Palms, Dubai Waterfront and The World. The JV would develop 20,000 acres each in Gurgaon (beyond Manesar and in conformity with the draft Master Plan) and in Maharashtra between Mumbai and Pune.

Mahanagar Gas To Infuse Rs 1200cr In 5 Years

Mumbai: The Mahanagar Gas Ltd, a joint venture between Indian gas utility major, GAIL India, British Gas (UK) and the Maharashtra government has planned an investment of Rs 1,200 crore over the next five years to extend to approximately nine lakh households across Mumbai and its adjoining expansion areas under the city gas distribution network. MGL has already spent upwards of Rs 250 crore, providing piped natural gas to nearly three lakh households in Mumbai. The company has recently launched piped natural gas (PNG) in south Mumbai. PNG pipelines will soon be reaching homes in the central suburbs of Thane, Vashi, Belapur, Dombivili and the western suburb of Mira Road - Bhayandar. Places in Navi Mumbai will also be covered under the project.In three years, MGL hopes to double its subscriber base from 2.88 lakh to six lakh in Mumbai and treble it in five years, increasing supply of PNG from 1.4 million metric standard cubic metre per day (MMSCMD) to 4.5 MMSCMD in five years. In south Mumbai, 20,000 households have already been covered by PNG pipeline, while supply till date has been provided to 16,000 households. In the long run, 2.88 lakh households in the area would be covered. MGL also plans to give PNG to commercial retail customers such as hotels and hospitals.

FII Activity On March 23,2007

The gross equity purchased was Rs.2594.60 (in crores), and the gross debt purchased was Rs 27.70(in crores)The gross equity sold was Rs.1881.50 (in crores), and the gross debt sold was 15.00. The net investment of equity was 713.10(in crores) and the net debt investment was Rs.12.70(in crores).

FII Activity On March 22,2007

The gross equity purchased was Rs.1395.40 (in crores), and the gross debt purchased was Rs 27.30(in crores)The gross equity sold was Rs.1230.90 (in crores), and the gross debt sold was 336.90. The net investment of equity was 164.50(in crores) and the net debt investment was Rs-309.60(in crores).

ONGC To Acquire 50-Pc Stake In SPV To Execute Tripura Power

The Oil and Natural Gas Corporation has amended the project structure of ONGC Tripura Power Corporation, its proposed gas-based power project in the state. The Rs 4,000-crore project, consisting of a power unit and a gas transmission network, will be taken up under a single special purpose vehicle (SPV), in which ONGC will acquire a 50% stake. ONGC has invited global bids for the engineering procurement & construction (EPC) contract for the project to be commissioned at Palatana, some 60 km from Agartala. At the initial meeting of bidders held in Agartala between February 22-23, Alstom, Siemens, Essar Power and L&T were among the participants. The bids are likely to be opened towards end-April, while the project completion schedule is 27 months.

FII Activity On March 20,2007

The gross equity purchased was Rs.1056.80 (in crores), and the gross debt purchased was Rs 148.60(in crores)The gross equity sold was Rs.1306.50 (in crores), and the gross debt sold was nil. The net investment of equity was -249.90(in crores) and the net debt investment was Rs-148.60(in crores).

RIL Lines Up $12 bn For Gas Find, Transport

New Delhi: Reliance Industries is looking at an investments of over $12 billion for production of gas from its fields in the Krishna-Godavari basin and its transport to consumers across the country. While $5.2 billion will be spent on bringing the gas to production, a larger chunk of $7 billion will be invested in building gas pipes to transport it to consuming locations. Production of gas from the K-G basin will begin by June 2008, the company''s president (oil and gas). There are three key pipelines that are being planned by the Mukesh Ambani-controlled company from Kakinada in Andhra Pradesh - a 1,386-km pipeline to Bharuch in Gujarat at an investment of $4 billion, and two coastal pipelines to West Bengal and Chennai at an investment of $3-3.5 billion. The Mumbai-based company has already signed contracts worth $4.5 billion with suppliers of pipes, machinery and pumping equipment, out of the planned $5.2 billion investment in production of gas. The investment plan raises Mukesh Ambani''s expenditure in his oil, gas, refining, chemical and retail businesses to over $28 billion by 2011. Currently, only a handful of cities have access to piped gas, since India is a gas deficit country with domestic production meeting only half the country''s needs. The largest users of gas at present are power and fertiliser units. Gas consumption may rise to 400 million cubic metres a day by 2025 if the economy grows at the projected rate of 8 per cent a year. At present, there is a demand of 170 million cubic metres a day, while supply stands at 93 million cubic metres a day.

Dunlop To Mobilize $90 m via Private Placemen

The Ruia Group is considering to privately place 14.5% of the promoter''s stake in Dunlop India for mobilizing $80-90 million through a mixture of loan and equity soon after the rights. The private placement would be a part of the Rs 550-crore revival plan of Dunlop. It is learnt that the company was in active dialogue with two overseas banks for the said private placement. BIFR, in a set of rulings on March 16, has permitted the company to straightaway issue 2.7 crore shares of the company at Rs 10 each on rights basis by April 15. The Ruia group currently holds 74.5 per cent controlling stake in the company through its Singapore based SPV Wealth Sea Pte and Manali Properties Ltd. Wealth Sea had acquired DIL Rim and Wheels, the holding company of Dunlop, through an overseas acquisition in late 2005. While BIFR has reportedly directed the company to complete the rights issue by April 15, Dunlop had previously proposed an open offer to its shareholders between March 24 and April 12.

UTI Bank To Come Out With $500-M Offshore Fund

UTI Bank is looking at setting up a $500-million offshore fund. The bank, which had earlier obtained Sebi approval to start a PE fund in India as a domestic venture capital, will now file for a fresh application as a foreign venture capital investor. The proposed $500-million fund also marks the entry of UTI Bank in private equity. Of the total equity of $500 million, UTI Bank will provide $50 million equity as its principal sponsor. The remaining part of the corpus will be raised from FIIs and other investors. The investments will be made through the bank''s subsidiary UBL AMC. Since the mandate of the proposed fund will be to invest in infrastructure projects, it does not fall in the nine sectors identified in this year''s Budget where venture capital funds registered in India will continue to enjoy a pass-through status. Tax exemptions will now only apply to biotechnology, nanotechnology, IT hardware/software, R&D for new chemical entities, seed research, dairy, poultry biofuels and large hotel-cum-convention centres. Foreign funds, registered in Mauritius and only have an asset management arm in India, remain unaffected from the changed law. Therefore, if UBL AMC registers its fund in tax-haven Mauritius, it will operate like any other foreign fund registered with Sebi, exempted from the proposed taxes.

FII Activity On March 16,2007

The gross equity purchased was Rs.1978.80 (in crores), and the gross debt purchased was 25.40.The gross equity sold was Rs.1960.30 (in crores), and the gross debt sold was 142(in crores). The net investment of equity was 18.50(in crores) and the net debt investment was Rs-116.60(in crores).

FII Activity On March 15,2007

The gross equity purchased was Rs.1709.60 (in crores), and the gross debt purchased was Rs 125.80(in crores)The gross equity sold was Rs.2571 (in crores), and the gross debt sold was 175.40(in crores). The net investment of equity was -861.40(in crores) and the net debt investment was Rs-49.60(in crores).

FII Activity On March 14,2007

The gross equity purchased was Rs.1641.40 (in crores), and the gross debt purchased was 145.30(in crores)The gross equity sold was Rs.1725.40 (in crores), and the gross debt sold was 0.40(in crores). The net investment of equity was -84(in crores) and the net debt investment was Rs144.90(in crores).

FII Activity On March 13,2007

The gross equity purchased was Rs.2704.40 (in crores), and the gross debt purchased 63.50. The gross equity sold was Rs.2500(in crores), and the gross debt sold was nil. The net investment of equity was 204.40(in crores) and the net debt investment was Rs63.50(in crores).

FII Activity on March 12,2007

The gross equity purchased was Rs.2757.20 (in crores), and the gross debt purchased was 542.40(in crores)The gross equity sold was Rs.2361.50 (in crores), and the gross debt sold was 235.20(in crores). The net investment of equity was 395.70(in crores) and the net debt investment was Rs307.20(in crores).

GAIL, ONGC Likely To Tie Up For Marketing

New Delhi: GAIL (India) Ltd has attained an understanding with ONGC for sourcing and marketing the latter''s gas from Krishna-Godavari and Mahanadi basins. A joint venture between ONGC and GAIL could be in the offing for buy of gas from new sources to be developed by ONGC in the two assets. Gail said that a broad understanding had been attained on marketing, and the quantum of gas and pricing will be worked out subsequently, depending on the development plans of ONGC.Presently, KG basin is being looked at as a major source of gas with exploration companies such as ONGC and Reliance Industries Ltd striking gold there. With the proposed joint venture, GAIL will not only have access to new source of gas, but will also be able to better use its existing network of pipelines as well as expand its infrastructure. While gas production from ONGC''s existing fields in Rajahmundry has increased by 0.57 million standard cubic metres per day (mmscmd), this has been offset by the natural decline in production from wells of other existing fields. Additional sourcing of gas will also help GAIL conceive new networks in the markets of Andhra Pradesh and neighbouring States.

FII Activity On March 9,2007

The gross equity purchased was Rs.2197.60 (in crores), and the gross debt purchased was 487.60(in crores)The gross equity sold was Rs.2081.70 (in crores), and the gross debt sold was nil.. The net investment of equity was 115.90(in crores) and the net debt investment was Rs487.60

Idea To Put In $2 Bn In Next Two Years

Idea Celluar, the Aditya Birla Group owned telecom company which got listed on bourses on Friday, has decided to put in $2 billion in the next two years to compete in the booming Indian telecom market. At present, Idea operates in 11 circles out of 13 for which it has been issued license. It has applied for license in nine new circles. In the past six months the company has launched operations in Himachal Pradesh, Rajasthan and Eastern Uttar Pradesh. It will launch operations in Mumbai and Bihar this year.

Andhra I-T Department Eyes Rs 9685 Crore Collections

Hyderabad: The Income Tax Department has recorded collections to the tune of Rs 7,301 crore up to February 2007 in Andhra Pradesh as against Rs 4,900 crore in the corresponding period last year, showing a growth of 49%. This formed 75 per cent of the total target of Rs 9,685 crore for the whole year. I-T department are hopeful of meeting the target as the deadline for payment of advance tax is due on March 15. The number of returns went up to 12.61 lakh up to February 2007, as against 11.93 lakh, showing a growth of six per cent. The number of high-income individuals too showed a sharp growth. The department added 99,404 assessees (77,852) this year, recording a growth of 28 per cent. The department conducted 803 surveys, mostly on realtors, that resulted in detection of an additional income of Rs 282 crore with a tax effect of Rs 109 crore. It was realtors who topped this list with a total undisclosed income of Rs 191 crore that had a tax effect of 65 crore. These operations were specifically targeted at builders, real estate agents, jewellers, contractors, traders and those in finance business.

FII Activity On March 8,2007

The gross equity purchased was Rs.2673 (in crores), and the gross debt purchased was 469.60(in crores) The gross equity sold was Rs.2588.90(in crores), and the gross debt sold was nil. The net investment of equity was 84.10(in crores) and the net debt investment was Rs469.60(in crores).

ABC Bearings Signs An Agreement With NSK

ABC Bearings Ltd has informed that the Company has signed an agreement with NSK Ltd, Japan, on March 06, 2007, to form a Joint Venture Company to manufacture bearings for the automotive industry, targeting mainly Japanese and other transplant customers.The profile of the JV Company is as follows:1. Company Name: NSK-ABC Bearings Ltd.2. Capital: 500 million Rupees (1.3 billion Yen)3. Ratio of Capital Contribution: NSK: 75% & ABC: 25%4. Location: Kancheepuram District, Tamil Nadu, India5. Land Area: 80,000 square meters

FII Activity On March 7,2007

The gross equity purchased was Rs.2212.30 (in crores), and the gross debt purchased was 12.20(in crores)The gross equity sold was Rs.2782.70 (in crores), and the gross debt sold was 49.90(in crores). The net investment of equity was -570.40(in crores) and the net debt investment was Rs-37.70(in crores).

FII Activity On March 6,2007

The gross equity purchased was Rs.2862.90 (in crores), and the gross debt purchased was 222.20(in crores)The gross equity sold was Rs.3175.60 (in crores), and the gross debt sold was 47(in crores). The net investment of equity was -312.70(in crores) and the net debt investment was Rs175.20(in crores).

FII Activity On March 5,2007

The gross equity purchased was Rs.3442.40 (in crores), and the gross debt purchased was 459.20(in crores)The gross equity sold was Rs.3117.50 (in crores), and the gross debt sold was nil. The net investment of equity was 324.90(in crores) and the net debt investment was Rs459.20(in crores).

Canara Bank - Signing Of MOU For Setting Up A Life Insurance Joint Venture

Canara Bank has informed that the Bank proposes to enter into a Joint Venture arrangement with HSBC Insurance (Asia Pacific) Holdings Ltd and Oriental Bank of Commerce for entering into Life Insurance Business.The MOU Signing Ceremony is being held at Delhi on March 05, 2007.

FII Activity On March 2,2007

The gross equity purchased was Rs.3048.70(in crores), and the gross debt purchased was Rs nil. The gross equity sold was Rs.4693 (in crores), and the gross debt sold was 445.40(in crores). The net investment of equity was -1664.30(in crores) and the net debt investment was Rs-445.40(in crores).