Puravankara To Infuse Rs 350Cr In Kolkata

Bangalore: Puravankara Projects, a Bangalore-based real estate company, mulls to take up 2.58 million square feet residential development in Rajarhat in Kolkata, with an investment of Rs 350 crore. The company, said that the Kolkata project was being executed via a joint venture company, Keppal Purvankara Development Ltd. In this project, Purvankara will have 36.26 per cent economic interest of the 2.26 million sft of saleable area. Besides, Keppal Purvankara Development Ltd has taken up two projects in Bangalore. The first project in the JP Nagar area in the city is under development whereas the second is yet to begin.

In Chennai, Puravankara has forayed into an MoU with Galaxy Properties for the joint development or purchase of 43.56 million sft of land. Purvankara is also ready to take up first overseas project in Colombo, Sri Lanka. The company holds a land bank of 94.6 million sft of saleable area, of which the company owns about 42.77 million sft of saleable and about 6.50 million sft is owned by subsidiaries. The company through entities other than its subsidiaries owns the rest 15.71 million sft. For the fiscal ended March 2007, the company reported a net profit of Rs 130.40 crore on a total revenue of Rs 416.90 crore.

FII Activity On 31-07-2007

The gross equity purchased was Rs.3,677.30 (in crores), and the gross debt purchased was Rs 0.00. The gross equity sold was Rs 4,899.70 (in crores), and the gross debt sold was Rs962.50 (in crores). The net investment of equity was -1,222.40 (in crores) and the net debt investment was -Rs962.50 (in crores).

FII Activity On 30-07-2007

The gross equity purchased was Rs.4,519.30 (in crores), and the gross debt purchased was Rs 9.80. The gross equity sold was Rs 4,271.10 (in crores), and the gross debt sold was Rs724.50 (in crores). The net investment of equity was 248.20 (in crores) and the net debt investment was -Rs714.70 (in crores).

Cisco To Invest $150 Mn In Vmware

Cisco Systems Inc is buying a $150 million stake in virtualization software maker VMware Inc, becoming the second technology giant this month to put a major investment in the company as VMware prepares to go public.

Cisco will own 1.6 per cent of VMware''s common stock when the investment closes, the companies said in a joint statement Friday. They will also collaborate on joint product development and marketing.

Earlier this month, Intel Corp., the world''s largest semiconductor company, also announced it will make a major investment in Palo Alto-based VMware. Intel said it will pay $218.5 million, giving it 2.5 per cent of VMware after the initial public offering.

Cisco and VMware said one of the goals of the investment is to speed the adoption of VMware''s software on computers using Cisco''s networking gear. San Jose-based Cisco is the world''s largest maker of the routers and switches that direct data over computer networks.

DLF To Put In Over Rs 6,000 Cr In Gujarat

Mumbai/ Ahmedabad: DLF Ltd, Delhi-based real estate major, has decided to put in over Rs 6,000 crore in Gujarat in next 2-3 years. The company would be taking projects like IT parks, residential, retail and other projects through this investment. It is already investing Rs 3,000 crore of these for setting up three IT Parks, one each in Gandhinagar, Ahmedabad and Vadodara. Moreover, the company is interested in investing for port, airport and other infrastructure projects in the state. DLF is eyeing major cities of Gujarat like Ahmedabad, Vadodara, Surat and Rajkot for these projects. Spread across an area of 25 acres, the IT Park at Gandhinagar is expected to be completed in 18 months, with the first phase to be completed in nine months. To be built at an investment of over Rs 800 crore, the IT Park has received a formal status of a special economic zone (SEZ) and is expected to generate employment for around 30,000 persons. The real estate company earned a turnover of around Rs 3,000 crore in the 1st quarter and is expecting to grow by over 20 per cent. With diversification in mind, DLF has recently entered into a JV with USA-based Prudential Insurance for introducing several financial products including life insurance. The company, with a stake of 74 per cent in the JV, has applied to IRDA and is expecting a license soon in the current fiscal.

ICICI Venture, Indivision Acquire 20-Pc In Tops For Rs 175 Cr

ICICI Venture Funds Management, a leading private equity player, and Future group''s private equity arm - Indivision, have together bought around 20% stake in Tops Security, the flagship of the Tops Group, for Rs 175 crore. ICICI Venture has put in Rs 110 crore while Indivision invested Rs 65 crore in the Mumbai-based security service provider.

The deal is the first-ever private equity investment in the company, majority of which is owned by the initial promoters, the Nanda family. Rakesh Jhunjhunwala, a leading investor holds 16% stake in the company.

With a turnover in excess of Rs 260 crore, Tops Group is one of the leading brand in the Indian security industry, and is growing at CAGR of about 50%, compared to the average growth rate of 21% in the domestic security market. Tops Group''s activities span across manned guarding, investigations, cash management services, special security squads for executive protection, event security management, copyright protection, facility management, advanced training, security audits, integration of security equipment and emergency response.

FII Activity On 27-07-2007

The gross equity purchased was Rs.3,205.60 (in crores), and the gross debt purchased was Rs 19.90. The gross equity sold was Rs 3,264.80 (in crores), and the gross debt sold was Rs225.60 (in crores). The net investment of equity was -59.20 (in crores) and the net debt investment was -Rs205.70 (in crores).

FII Activity On 26-07-2007

The gross equity purchased was Rs.4,376.50 (in crores), and the gross debt purchased was Rs 1.90. The gross equity sold was Rs.3,091 (in crores), and the gross debt sold was Rs39.20 (in crores). The net investment of equity was 1,285.50 (in crores) and the net debt investment was -Rs37.30 (in crores).

Unichem Lab To Infuse Rs 100 Crore In FY08

Mumbai: Unichem Laboratories has earmarked an over Rs 100 crore expansion plan in 2007-08, including investments of Rs 50 crore for setting up a special economic zone (SEZ) at Pithampur, near Indore in Madhya Pradesh. The SEZ in Indore, an export-oriented facility, will manufacture finished drugs. The first phase will come up in 18-20 months.

The company intends to put in about Rs100-120 crore in the SEZ, in two phases. Additionallly, the company will set up a new plant at Baddi, where it has already set up two units to cater to the domestic market. Unichem is also expanding the manufacturing facilities at Aurangabad in Maharashtra. The two facilities will cost about Rs 50 crore. Unichem, which achieved a Rs 562 crore turnover in 2006-07, is likely to touch a turnover of Rs 800 crore in the current financial year. It, currently, has supply and marketing alliances with Lannett Company and Pliva, which was taken over by Barr. So far, Unichem has filed five abbreviated new drug applications (ANDA) and the applications for marketing generic drugs in the US with the US Food and Drug Administration (FDA). It plans to file another eight to ten ANDAs during the current financial year.

FII Activity On 25-07-2007

The gross equity purchased was Rs.3,784.90 (in crores), and the gross debt purchased was Rs 19.70. The gross equity sold was Rs.2,688.90 (in crores), and the gross debt sold was Rs159.80 (in crores). The net investment of equity was 1,096(in crores) and the net debt investment was -Rs140.10 (in crores).

RIL To Establish 4,000 Mw Capacity

Reliance Industries Ltd (RIL) is looking at establishing 4,000 Mw of gas-based power generation capacity at multiple locations at an investment of Rs 10,000 crore, in addition to a mega fertiliser plant at Kakinada in Andhra Pradesh. This step has been taken to leverage its gas from the Krishna-Godavari (K-G) basin. Around 1,000 Mw capacity will come up at Jamnagar in Gujarat, where RIL is building a 27 million tonne per annum (mtpa) refinery alongside its existing 33 mtpa refinery.

Tata Power has an installed capacity of about 2,300 Mw today. Typically, gas based plants cost about Rs 3.5 crore per Mw, though RIL is working on a cost estimate of Rs 2.5 crore by using new turbines. The capacities may vary slightly as the company still has to study the kind and number of industries that will come up at the SEZs. For firing the power plants the company is assured of 25 million cubic metres per day (mcmd) of gas for captive consumption from the K-G basin block. Power from the plants is also likely to be sold to group company Reliance Retail to light up its stores. RIL has come under attack from both the fertiliser and power industry after it set a well-head price of $4.33 per million British thermal unit for its K-G gas which leads to a landed price of about $6 in north India.

FII Activity On 24-07-2007

The gross equity purchased was Rs.4,108.40 (in crores), and the gross debt purchased was Rs 469.60. The gross equity sold was Rs.2,885.30 (in crores), and the gross debt sold was Rs124.80(in crores). The net investment of equity was 1,223.10(in crores) and the net debt investment was Rs344.80 (in crores).

Patni To Acquire US-Based Taratec

Mumbai: The Mumbai-based Patni Computer Systems Ltd has earmarked $ 27.2 million (about Rs 108.8 crore) in cash for acquiring the New Jersey based Taratec Development Corp. Taratec, a consulting company in the life sciences industry, does more than $20 million (about Rs 80 crore) in annual revenues.

Taratec Development Corp provides integrated business, information technology, and regulatory compliance products and services for clients in the pharmaceutical, medical device and biotechnology industries. The acquisition has been made through Patni Computer Systems Inc., a wholly owned subsidiary of Patni. The acquisition is in line with Patni''s strategy of enhancing its market specific services.

ONGC To Establish New Mini-Refinery At Tatipaka

Chennai/ Kakinada: The Oil and Natural Gas Corporation (ONGC) is looking at establishing a new mini-refinery unit with a 200-tonne capacity at Tatipaka in the Krishna-Godavari Basin. Rs 45 crore has allocated for the project. The corporation is acquiring 23 acres of land for setting up the new unit, which is expected to be commissioned by the year 2009. The Tatipaka complex consists of a mini-refinery, gas collection station (GCS) and an effluent treatment plant (ETP). The refinery has an installed capacity of 66,000 tonnes per year.

FII Activity On 23-07-2007

The gross equity purchased was Rs.3,762 (in crores), and the gross debt purchased was Rs 19.60. The gross equity sold was Rs.2,878.90 (in crores), and the gross debt sold was Rs0.00(in crores). The net investment of equity was 833.10(in crores) and the net debt investment was Rs19.60 (in crores).

United Phosphorus Acquires ICONA Via A Share Purchase Agreement

United Phosphorus Ltd has announced that the Company through its UK subsidiary has purchased 100% stake of ICONA and ICONA San Luis S.A. (ICONA), a manufacturer and distributor of crop protection products headquartered in Buenos Aires, Argentina. The share purchase includes all stocks, products registrations, manufacturing sites and all other property rights associated with the business of ICONA.

ICONA is a debt free Company, having more than 35 registrations in Argentina. It has a strong manufacturing base located in Capilla del Senor from Buenos Aires and at Justo Daract. Justo Daract is located in the province of San Luis. ICONA has its own distribution network covering more than 1000 customers. For the year ended September 30, 2006 ICONAs Consolidated revenues were USD 13 mm. The total cost of acquisition for the Company is USD 10 mm and the acquisition is effective from July 18, 2007. It is all cash offer and the Company will find this through its cash accrual.

This acquisition provides the Company with a much stronger platform to expand and strengthen its presence in Argentina. With the strong Agricultural commodity pricing the market is going to be very good in Argentina. ICONA has a very strong distribution network in Argentina. After considerable growth both organically and acquisitions in the USA, Europe, and in India, the Company has been actively pursuing opportunities for growth in the other regions. The acquisition of ICONA is in line with Companys strategy to grow its business globally both organically and through acquisitions.

Rain Calcining - Acquisition Of CII Carbon, L.L.C.,USA

With reference to the earlier announcement dated June 03, 2007 with regard to the acquisition of CII Carbon, L.L.C. (CII), Rain Calcining Ltd has informed that Rain/CII Holdings, Inc., a subsidiary of the Company, has completed its acquisition of CII for a cash purchase price of approximately US $595 million on July 19, 2007 (New York time). The cash purchase price is subject to certain adjustments.

With its acquisition of CII, the Company has become the largest manufacturer of calcined petroleum coke in the world.

FII activity On 20-07-2007

The gross equity purchased was Rs.4,124.30 (in crores), and the gross debt purchased was Rs 406. The gross equity sold was Rs.2,890.70 (in crores), and the gross debt sold was 388(in crores). The net investment of equity was 1,233.60(in crores) and the net debt investment was Rs18 (in crores).

IOB Receives Approval To Acquire 10Pc In LIC''s Cards Biz

Indian Overseas Bank (IOB) will be the new partner in the credit card business led by Life Insurance Corporation of India (LIC). The board of the bank has permitted the proposal to buy up to 10% equity stake in the proposed company. The board of Corporation Bank, too, has approved a proposal to pick up 18% equity in the credit card business of its largest stakeholder LIC. The insurance company has 27% equity in Corporation Bank. LIC has been negotiating about foraying into the credit card business for over four years now.

LIC witnesses a huge business opportunity in the credit card business, given the fact that it has a large client base of over 20-crore policyholders. LIC likely to use the network of insurance agents to sell credit cards. LIC, which will primarily eye captive policyholders, has not yet announced the names of its partners. Domestic players will hold 49.5% while the foreign partner will hold up to 50.5% in the venture. Among the domestic partners, LIC mulls to hold 40%, Corporation will have 5% and IOB may hold 4.5% while the balance will be with the foreign partner. Both IOB and Corporation Bank already provide credit card services to their customers.

Unitech To Infuse $ 720Mn In 4 yrs

Mumbai: Unitech will pump in $720 million in four years to build 28 hotels with partners, including Marriott International, the world''s biggest operator. The per capita annual income in India has increased 86 per cent since 2000, spurring Marriott, Starwood Hotels & Resorts Worldwide and InterContinental Hotels Group to build properties. India is likely to become one of the top five destinations for business travelers in a decade from now.In future, hotels will be build mostly by real estate companies. There are 50,000 luxury rooms in the country at tariffs ranging from Rs 5,000 ($124) to Rs 15,000 a day, with an overall room shortage of about 33 per cent.

In Mumbai, room tariffs have risen about 40 per cent in the past 1 1/2 years on higher occupancy and demand. Hotels make money not just on the rooms but also on food, leasing of facilities for conventions and other services. The New-Delhi based Unitech has hotels under construction in Kolkata, Noida and Gurgaon, and executive apartments in Gurgaon, which will be run by Marriott, Chandra said. The company was working on funding the projects and it would be a mix of its own money and borrowings.

FII activity On 19-07-2007

The gross equity purchased was Rs.3,890 (in crores), and the gross debt purchased was Rs nil. The gross equity sold was Rs.2,943.60 (in crores), and the gross debt sold was 68.50(in crores). The net investment of equity was 946.40(in crores) and the net debt investment was Rs-68.50 (in crores).

BSNL To Acquire Only 14 Mn 2G Lines

New Delhi: The board of state-owned Bharat Sanchar Nigam Ltd (BSNL) has decided to purchase only 14 million second generation (2G) mobile lines at an estimated per line cost of Rs 3,537, lower than the Rs 4,965 per line quoted by Ericsson, the lowest bidder for the full order of 45.5 million lines. The whole order had included both 2G, the currently used technology, and third generation (3G) lines. Another 3.5 million lines supporting 3G mobility will be bought only after the government finalises the spectrum policy for this yet-to-be unveiled service in the country. The BSNL board has got clearance from its legal counsel and the additional solicitor-general of India. To get around the original tender condition that prevented it from changing the order after the bid to acquire only 2G lines, BSNL will place an advance purchase order for 22.75 million lines (50 per cent of the tendered quantity) and subsequently issue the purchase order for 14 million 2G lines. BSNL will also correspondingly reduce the value of the bank guarantees submitted by the vendors.

Avesthagen Acquires US Company For $11Mn

Bangalore: Avestha Gengraine Technologies (Avesthagen), a Bangalore-based integrated systems biology company, has bought Renaissance Herbs (RHI), a US dietary supplement company, for $11 million. The acquisition will support Avesthagen''s bio-nutritional business strategy via vertical integration and give access to key markets. RHI is a Delaware-based company, which is a global supplier of proprietary nutritional products. RHI has presence in Japan, via Nippon Shinyaku, and in the US, which together have a market assessed to exceed $20 billion. RHI is a supplier to the largest branded companies and also sells under its own brand, Ayurceutics.

FII Activity (18-07-2007)

The gross equity purchased was Rs. 4344.20(in crores), and the gross debt purchased was Rs nil. The gross equity sold was Rs.2684.10 (in crores), and the gross debt sold was 100(in crores). The net investment of equity was 1660.10(in crores) and the net debt investment was Rs-100(in crores).

FII Activity On July 16,2007

The gross equity purchased was Rs.5475.70 (in crores), and the gross debt purchased was nil. The gross equity sold was Rs.3129.30 (in crores), and the gross debt sold was nil. The net investment of equity was 2346.40(in crores) and the net debt investment was nil.

Infosys Technologies To Acquire Philips Global''s Finance BPO

Chennai: Infosys Technologies is set to buy Philips Global''s finance and accounts BPO for an assured revenue of $200 million spread over five years. Infosys will be acquire the subsidiary along with all the costs in the similar manner that TCS had acquired the operations of the Pearl Group in the UK. Once the acquisition is completed, Infosys will bring down costs and restructure operations to make it a paying proposition. The acquisition of Philips will bolster the capabilities and reach of Infosys BPO, enabling it to deliver round-the-clock. Philips F&A captive has operations in Chennai, Warsaw (Poland) and Bangkok. Infosys BPO has close to 11,000 employees and has posted a top line of around Rs 662 crore and a net profit of Rs 151 crore in FY07. Infosys, the country''s second largest software services exporter, currently has cash reserves of $1.4 billion. Usually conservative in the M&A game, the company has grown to $3.5 billion and employs around 71,000 professionals.

ICICI Venture Acquires 14Pc Stake In Rubamin

Mumbai: ICICI Venture, the country''s largest private equity fund, has acquired 14 per cent stake in Rubamin for Rs 70 crore, putting the valuation of the Vadodara-based company at Rs 500 crore, equal to its turnover. ICICI Venture will add significantly to the strategic and financial strength of Rubamin. The ICICI Venture''s investment will give further impetus to Rubamin, which plans to emerge as a fully integrated mining and metallurgy player by 2010, when it commercially exploits its mining areas. The Rs 500-crore Rubamin has been registering a CAGR of 80 per cent in sales and 120 per cent in profits over the last few years.

IDBI Bank Joins Hand With Sumitomo For Carbon Credits

Chennai: IDBI Bank has joined hands with Sumitomo of Japan for trading in carbon credits. IFC and Sumitomo would help find buyers in various geographies. Earlier, in October 2006, IDBI Bank had joined hands with MITCON Consultancy Services Ltd of Pune. MITCON has expertise in project identification and registration of clean development mechanism (CDM) projects with the United Nations Framework Convention on Climate Change. Under this arrangement, companies could get single-point assistance pertaining to origination and implementation of CDM projects, as well as advisory services on generation and trading of carbon emission reductions (CERs). And now recently, it has sewn up another arrangement with Sumitomo. While the sale of CERs will give companies additional revenue, IDBI Bank stands to gain in the form of additional fee income. Each tonne of CO2 emission reduction (or its equivalent) can bring in approximately Rs 200-250 as CDM revenue. Companies dealing with carbon credits, such as EcoSecurities, have anticipated that Indian companies will get $40-$50 million annually.

FII Activity On 12th July,2007

The gross equity purchased was Rs.3055.20 (in crores), and the gross debt purchased was Rs 81.70(in crores). The gross equity sold was Rs.2691.70 (in crores), and the gross debt sold was 20.50(in crores). The net investment of equity was 363.50(in crores) and the net debt investment was Rs 61.20(in crores).

NTPC To Put In Rs 1,000 Cr In JV

New Delhi: NTPC Ltd will be putting in Rs 1,000 crore in its joint venture company, Aravali Power Company Pvt Ltd. Aravali Power is a joint venture firm formed by NTPC, Indraprastha Power Generation Corporation Ltd and Haryana Power Generation Corporation Ltd for implementing a 1,500 MW thermal project in Haryana. The investment has been approved to enable the joint venture company to implement the Aravali Super Thermal Power Project at Jhajjar.

FII Activity On 11th July,2007

The gross equity purchased was Rs.3177.50 (in crores), and the gross debt purchased was Rs 280.60(in crores).The gross equity sold was Rs.2475.40 (in crores), and the gross debt sold was nil. The net investment of equity was 702.10(in crores) and the net debt investment was Rs280.60(in crores).

3i Infotech Looks To Acquire More Smaller BPOs

Mumbai: 3i Infotech, IT product and services company, intends to increase focus on its business process outsourcing (BPO) operations. While continuing to look at inorganic growth, the Rs 670- crore company will shortly launch a ''solutions'' strategy with cross-selling of its products and services. Formerly promoted by the ICICI Bank, 3i Infotech has till date acquired close to 21 companies in the product and services segments. Unlike its competitors, the company will continue to acquire smaller players rather than the captive BPOs that are on sale. At present, BPO contributes about 9 per cent to the company''s revenues. With more than 500 employees and 20 clients, 3i Infotech is focused on the domestic market. The company has acquired three BPO companies, Delta Services, KNM Services and aok in-house Services.

FII Activity On July 10,2007

The gross equity purchased was Rs.2866.10 (in crores), and the gross debt purchased was nil. The gross equity sold was Rs.1976.70 (in crores), and the gross debt sold was 0.10(in crores). The net investment of equity was 889.40(in crores) and the net debt investment was Rs-0.10(in crores).

Mahindra Gesco - Investment By FIIs In The Shares Of The Company

Mahindra Gesco Developers Ltd has informed that as per the latest download of beneficiary positions made available to the Company by the Depositories (NSDL & CDSL), as of July 06, 2007, the holdings of FIIs in the Company has reached 25.4716% of the paid-up equity capital.

FII Activity On July 10,2007

The gross equity purchased was Rs.5508.50 (in crores), and the gross debt purchased was Rs 108.20(in crores).The gross equity sold was Rs.2329.20 (in crores), and the gross debt sold was 23.70(in crores). The net investment of equity was 3179.30(in crores) and the net debt investment was Rs84.50(in crores).

Sasken To Enter Service Provider Space

Chennai/ Bangalore: Sasken Communication Technologies is now looking at becoming a service provider to telecom operators. The company designs telecom software and hardware on its own account and also as a service. For this the Bangalore-based company, which made two acquisitions during the fiscal 2006-07, is actively considering acquiring a company in this space to fill up certain technology gaps. Sasken is understood to be talking to four-five companies in North America for acquisitions with a focus on Mexico, Chicago and Dallas regions. The company intends to provide information, commissioning support, planning of radio frequency, deployment of base stations and network infrastructure, and consulting services on evolving a network.

Sasken is looking for acquisitions of firms in the range of $10-30 million. The company expects its revenue from service to become 10 per cent of the total revenues in the next two years. As of March 31 last, the company had cash reserves of about Rs 70 crore. Cash is not an issue. In July last year, the company acquired Finnish firm Botnia Hightech for Euro 35.5 million. The acquisition has helped the firm have about 300 people in Finland. Sasken Finland Oy, Sasken''s subsidiary in Finland contributed over 20 per cent to Sasken''s revenues in the fourth quarter of fiscal 2006-07. In April last year, Sasken had acquired Chennai-based iSoftTech that works in data networking space, for around Rs 5 crore.

MTNL All Set To Buy Sri Lankan Suntel

Mumbai: MTNL is all set to acquire Sri Lankan fixed line operator Suntel and has sent a high-level delegation to start technical assessment of the company. The delegation will be in Sri Lanka for four days to conduct due diligence along with Suntel officials. MTNL is believed to have emerged as the highest bidder for Suntel with a bid of between $160-180 million. If the deal goes through, this will be the NYSE-listed Indian company''s first acquisition. It will also give MTNL a foothold in Sri Lanka''s fast-growing telecom market. The Colombo-based company offers fixed line service on CDMA based technology''s WLL platform. All its key shareholders want to exit, sources said.

Nordic company Telia AB is Suntel''s top shareholder with 55% stake through its holding firm Overseas Telecom AB. The remaining stake is held by Sri Lanka''s Metrocorp, the National Development Bank of Sri Lanka, Townsend of Hong Kong and International Finance Corporation.

Dishman Pharmaceuticals Signs MoU With Solvay

Dishman Pharmaceuticals & Chemicals Ltd has informed that it has signed a Memorandum of Understanding (MoU) with Solvay Pharmaceuticals BV (Solvay), the Netherlands, to acquire the fine chemicals, vitamin D and vitamin D analogues business from Solvay for an undisclosed amount. As part of this deal all facilities, people and activities located at Solvays Veenendaal site in the Netherlands and technology, patent and intellectual property rights for fine chemicals, vitamin D and vitamin D analogues business will be transferred to the Company after satisfactory completion of due diligence procedures, approval from the relevant authorities and appropriate employee information procedures. The transfer of ownership will be completed during 2007.The intended sale of Solvays site in Veenendaal is a result of Solvay Pharmaceuticals strategy to focus on the main therapeutic areas of cardiometabolic and neuroscience treatments and hive off the non-core business.The Company has a pre-existing long-term relationship with Solvay for contract manufacturing of a patented API and intermediates. Further, in 2001, the Company and Solvay had entered into Toll Manufacturing Agreement to convert a raw material supplied by Solvay into an intermediate of vitamin D3. With the experience gained and technology available with the Company, the acquired business will considerably add value to the Companys business.

Rolta Announces Acquisition Of Orion Technology Inc

Rolta India Ltd on July 06, 2007 has announced that the signing of a purchase agreement to acquire Orion Technology Inc., a Canadian software and integration Company specializing in enterprise web-GIS solutions.

This is a strategically important acquisition that enables the Company to own exceptional technologies for taking its GIS offerings to the next level of sophistication. Orion employs Innovative technologies that allow users to connect to and integrate complex geospatial and non-spatial data from disparate sources. The Company therefore will provide a unique capability to its customers for turning their existing GIS investments into true enterprise solutions, in an extremely user-friendly and cost-efficient manner.

With Orion''s technology and expertise, the Company is now distinctively positioned to provide spatial integration consulting, software, and implementation services for global customers who have a growing need for innovative, web-based, platform-neutral geospatial solutions to efficiently integrate their GIS resources to meet the information needs of their constituents.

FII Activity On July5,2007

The gross equity purchased was Rs.2240.80 (in crores), and the gross debt purchased was Rs 268.90(in crores).The gross equity sold was Rs.1416 (in crores), and the gross debt sold was 209.70(in crores). The net investment of equity was 824.80(in crores) and the net debt investment was Rs59.20(in crores).

FII Activity On July 3,2007

The gross equity purchased was Rs.1835.90 (in crores), and the gross debt purchased was nil. The gross equity sold was Rs.1635.20 (in crores), and the gross debt sold was 29.90(in crores). The net investment of equity was 200.70(in crores) and the net debt investment was Rs-29.90(in crores).

Ashok Leyland JV With Alteams, Finland

Chennai: Ashok Leyland has forayed into a joint venture with the Alteams Group of Finland to manufacture high pressure die casting (HPDC) aluminium products for automotive and telecommunications applications. The equal joint venture will infuse Rs 175 crore in the first phase. The venture will initially operate from leased premises and begin operating pretty much immediately. The joint venture was looking for some 30 acres near Chennai and had identified a few locations.

The venture will attain a turnover of Rs 280 crore in 2008-09. Due to the demand for HPDC products, work on the second phase of the project would also begin shortly. The Alteams Group is owned by the $1.4-billion Kuusakoski Group, an international metals recycling company. The joint venture agreement did not preclude Ashok Leyland''s associate company, Ennore Foundries Ltd, from foraying the high pressure die casting business. Ennore Foundries today produces grey iron casting products, for automotive applications.

Cognizant To Infuse $200Mn In India By 2008

KOLKATA: IT and business outsourcing company Cognizant on July 3, said it will infuse $200 million by the end of 2008 to establish centres across the country. They will spend $200 million (about Rs 800 crore) to build techno-complexes in Chennai, Coimbatore, Hyderabad and Kolkata. The campuses, to be spread over total three million square feet area, would have capacity for over 30,000 employees. The present Cognizant employee strength is around 44,000. The investment will go into the second fully-owned techno-complex to be spread over 500,000 sq ft in Phase 1 to accommodate about 4,000 professionals when completed. The Rs 188 crore (about $46 million) investment of the first phase of expansion would be utilised on land acquisition, construction of facilities and furnishing.

Himatsingka Seide Acquires 80% Stake In Divatex, USA

Himatsingka Seide Ltd has announced that it has completed the acquisition of an 80% stake in Divatex Home Fashions Inc. New York. This was consequent to signing definitive agreements in New York on July 01, 2007.The enterprise value for the transaction was USD 75 MM. The Company has acquired the 80% stake through its wholly owned subsidiary, Himatsingka America Inc., and will pay USD 53 MM for this stake.Divatex reported revenues of USD 151 MM for the year ended December 31, 2006 with an EBITDA of USD 14 MM. Divatex was established in 1991 by Mr. Avi Gross and Ms. Ayelet Gross. It is among the top three distributors of bed linen products in the US.

FII Activity On July 2,2007

The gross equity purchased was Rs.7952 (in crores), and the gross debt purchased was nil. The gross equity sold was Rs.2114.90 (in crores), and the gross debt sold was nil.The net investment of equity was 5837.10(in crores) and the net debt investment was nil.

Tata Steel Loses Vietnam Takeover Bid

Mumbai: Tata Steel has lost the bidding battle for Vietnam''s Vinausteel and SSE Steel after missing a vote on the resolution for its sale and purchase pact by Vietnam Industrial Investments (VII), the parent company of the two steel makers. VII informed the Australian Securities Exchange the company is listed on the Australian stock exchange that the resolution on the sale and purchase agreement was lost on a poll vote by shareholders at its annual meeting on June 29. Tata Steel''s Singapore subsidiary NatSteel was to acquire 100 per cent in SSE Steel and 70 per cent in Vinausteel. SSE Steel has a capacity of 250,000 tonnes of bar and wire rods and Vinausteel produces 180,000 tonnes of reinforcing bars.

The deal ran into problems when Prudential Vietnam Securities Investment Fund Management Company and VII Managing Director Henry Lam Van Hung, who holds 10.46 per cent, made unsolicited cash acquisition offer. Prudential''s offer of $13.3 million was 10.65 per cent higher than NatSteel''s. With the vote rejecting NatSteel''s offer, VII''s independent directors will propose an amended offer for $17.6 million from Prudential.This runs contrary to NatSteel''s contention that not completing the sale and purchase agreement would be a breach of contract. The main advantages of Prudential''s offer were that it would give cash directly to shareholders and that the offer price was at a significant premium to VII''s historic trading prices. Tata Steel was successful in the first for Anglo-Dutch steelmaker Corus after it outbid rival suitor CSN of Brazil.

DLF To Infuse Rs 160Cr In Multiplex Unit

New Delhi: Banking on the growing multiplex culture in metros, real estate major DLF is mulling to establish 35-40 new movie screens across the country over the next two years, entailing an investment of about Rs 160 crore. The company infuses in the range of Rs 3-5 crore on each screen. The company operates multiplexes under the DT Cinema brand. DT Cinema currently operates two multiplexes in Gurgaon. In the current financial year DT Cinema would add multiplexes at Shalimar Bagh, Saket, Vasant Kunj, in Delhi and Gurgaon. DLF''s four new malls will come up at three major towns in the country. DLF is looking to venture into insurance pretty seriously. The company recently tied up with US-based Prudential to form a life insurance company in India.

Spentex Industries Acquires Schoeller Litvinov k.s., Czech Republic

Spentex Industries Ltd has informed that the Board of Directors of the Company at its meeting held on June 30, 2007, inter alia, in yet another cross border acquisition the Company has acquired Schoeller Litvinov k.s. (Schoeller) in Czech Republic. The acquisition of Schoeller was completed for a consideration of USD 25 million with net CA of 9 million. The transaction will enhance the topline of the Company by about Euro 55 million and add another Euro 6 million per year in cash flows. This acquisition is in line with Companys inorganic growth strategy of acquiring good, operational assets of strategic value. Schoeller is a leading yarn manufacturer in Europe with operations in Germany, the Benelux countries, France and the Czech Republic with customer base spread across European Union. This acquisition not only enhances its presence in the high margin European markets but also increases its client base substantially. The Companys customer base includes well-known Companies in the sewing thread industry, carpet manufacturers, weaving mills and knitwear factories.