Max New York To Mop Up Rs 200cr

New Delhi: Max New York Life Insurance Company mulls to invest Rs 200 crore capital in 2007-08 to sustain growth in business and expand operations in the country. Max New York Life, a 74:26 joint venture between Max India and New York Life, has a paid-up capital of Rs 732 crore at the moment. The company is likely to invest about Rs 200 crore capital in the current financial year. The first instalment of Rs 70-80 crore may come next month. Being in a capital-intensive business, Max New York Life needs to infuse capital to sustain growth in business and operations in the country. Last year, its new premium income doubled to Rs 920 crore. The company has already collected Rs 823 crore till August in the current financial year.

Wipro - Acquisition Of Oki Techno(Singapore) Pte Ltd

Wipro Ltd has informed that the Company has entered into a definitive agreement on September 27, 2007 to acquire Oki Techno Centre (Singapore) Pte Ltd over a period of one year. The Target Company is based out of Singapore and is focused on wireless design in the areas of RF (Radio Frequency) and Baseband.

In this regards the Company has issued the following Press Release:

Oki Electric Industry Co. Ltd. and Wipro Technologies, the global IT services arm of Wipro Ltd on September 27, 2007 has announced their strategic partnership in the area of design services for the semiconductor market. As part of this partnership, Wipro has signed a definitive agreement to acquire Oki Techno Centre Singapore Pte. Ltd (OTCS) including its own Intellectual Property Rights in an all cash deal over a period of one year. Wipro will also establish a dedicated Development Centre for OKI.

OTCS is a wholly owned subsidiary of OKI focused on wireless design and has demonstrated innovative capabilities in RF (Radio Frequency) and baseband design. OTCS is a 40 member center with SGD 8.8 M as the revenues of the fiscal year ended March 31, 2007. The Company has key customers in Japan in product engineering space.

The development center set up by Wipro will enable OKI to utilize design resource efficiently and enhance product development capabilities. This will enable OKI to expand its semiconductor business and increase its competitive edge in designing semiconductor products in the global market.

OKI has been enhancing its design and development skills to respond to more complex and sophisticated LSIs. We have been looking for a global partner to improve our efficiency in semiconductor design through outsourcing, as we focus on improving our core designing capabilities, said Masahiko Morioka, President or Silicon Solutions Company at Oki Electric industry. The capability at Wipro will enable OKI to provide high-quality technologies and products to its customers in a timely manner.

FII Activity On 27-09-2007

The gross equity purchased was Rs.3,810.70 (in crores) and the gross debt purchased was Rs122.60 (in crores). The gross equity sold was Rs2,806.80 (in crores), and the gross debt sold was Rs0.50 (in crores). The net investment of equity was Rs1003.90 (in crores) and the net debt investment was Rs122.10 (in crores).

Petrochem Foray: GAIL May Rope In RIL

Inside the boardroom of India''s largest gas transmission firm Gas Authority of India Limited or GAIL, a new plan is taking shape to turn the company into big petrochemicals player. For that, the company is planning to partner with none other than petrochemicals giant Reliance Industries, for starters the two companies are planning to set up a new plant overseas. Petrochemicals plant overseas, identifying locations yes, Reliance could be a partner, countries identified include Qatar, Egypt, CMD of GAIL UD Choubey said.

GAIL has already entered into a tie-up with Reliance Industries for transporting its KG basin gas and now petrochemicals seems to be a natural extension of this partnership. Whether or not the overseas plans works out, GAIL is moving fast to expand its existing Pata plant and also a new plant in India. Vizag is an obvious choice, we are likely to partner with HPCL, U D Choubey said. All these plans have forced GAIL to hike its total capital expenditure for the next five years to Rs 30,000 crore, but the immediate good news for GAIL investors is that bonus issue might be on the cards.

Lupin Acquires Pharmaceutical Business Of Rubamin

Lupin Ltd, on September 27, 2007 has announced that it has acquired Rubamin Laboratories Ltd (RLL), a part of the Rubamin group. The pharmaceutical business of Rubamin group was operated through its subsidiary RLL, largely engaged in the manufacture of advanced intermediates for APIs under Contract Research And Manufacturing (CRAMS) model.

RLL has over a decade of experience in manufacturing advanced intermediates for APIs. RLL today has capabilities to participate in the value chain from drug development to commercial production of advanced intermediates for APIs. RLL has built a strong customer base and with Companys strengths will be in a better position to support the global pharmaceutical industry.

Dr. Desh Bandhu Gupta, Chairman of the Company said, We are delighted at this acquisition. It enables us to step up our strategic initiative in the CRAMS segment. We have a proven track record of achieving global position in every therapy that we have entered at intermediate and API level. We are looking forward to replicate our success in this field as well.

FII Activity On 26-09-2007

The gross equity purchased was Rs.4,509.10 (in crores) and the gross debt purchased was Rs482.20 (in crores). The gross equity sold was Rs2, 958.90 (in crores), and the gross debt sold was Rs220.60 (in crores). The net investment of equity was Rs1, 550.20 (in crores) and the net debt investment was Rs261.60 (in crores).

FII Activity on 25-09-2007

The gross equity purchased was Rs.4,854.20 (in crores), and the gross debt purchased was Rs0.00 (in crores). The gross equity sold was Rs3,569.80 (in crores), and the gross debt sold was Rs0.00 (in crores). The net investment of equity was Rs1,284.40 (in crores) and the net debt investment was Rs0.00 (in crores).

FII Activity On 24-09-2007

The gross equity purchased was Rs.3,856.70 (in crores), and the gross debt purchased was Rs226.10 (in crores). The gross equity sold was Rs2,932.40 (in crores), and the gross debt sold was Rs32.40 (in crores). The net investment of equity was Rs924.30 (in crores) and the net debt investment was Rs193.70 (in crores).

FII Activity On 21-09-2007

The gross equity purchased was Rs.4,575 (in crores), and the gross debt purchased was Rs197.90 (in crores). The gross equity sold was Rs2945.50 (in crores), and the gross debt sold was Rs0.00 (in crores). The net investment of equity was Rs1629.50 (in crores) and the net debt investment was Rs197.90 (in crores).

FII Activity On 20-09-2007

The gross equity purchased was Rs.5,770 (in crores), and the gross debt purchased was Rs32.30 (in crores). The gross equity sold was Rs3,285.50 (in crores), and the gross debt sold was Rs0.00 (in crores). The net investment of equity was Rs2,484.50 (in crores) and the net debt investment was Rs32.30 (in crores).

PTC Acquires 26-Pc Stake In Indian Energy Exchange

PTC India, formerly Power Trading Corporation of India, the country''s largest power trading firm, has acquired 26% stake in the country''s first power exchange Indian Energy Exchange (IEX), which of late received regulatory approval. Tata Power (TPC), Reliance Energy (REL), Rural Electrification Corporation (REC), a consortium of Adani Enterprises (AEL) and IDFC are other stakeholders in IEX. A power exchange is just like any other stock and commodity bourse, and acts as a platform for buying, selling and trading of electricity across India. At present, there is no such exchange in India and electricity is traded bilaterally at mutually agreed rates. IEX has been set up by Financial Technologies (India) and and Multi Commodity Exchange (MCX) for trading electricity.

FII Activity On 19-09-2007

The gross equity purchased was Rs.2,989 (in crores), and the gross debt purchased was Rs24.60 (in crores). The gross equity sold was Rs3,126.40 (in crores), and the gross debt sold was Rs237.20 (in crores). The net investment of equity was -Rs137.40 (in crores) and the net debt investment was -Rs212.60(in crores).

FII Activity On 18-09-2007

The gross equity purchased was Rs.2,307.80 (in crores), and the gross debt purchased was Rs77.80 (in crores). The gross equity sold was Rs2,575.20 (in crores), and the gross debt sold was Rs1.60 (in crores). The net investment of equity was -Rs267.40 (in crores) and the net debt investment was Rs76.20(in crores).

FII Activity On 17-09-2007

The Gross equity purchased was Rs3,528.90 (in Crore) while the gross debt purchased was Rs265.80 (in Crore). The gross sale of equity was Rs2,369.50 (in Crore) while gross debt sold was Rs2.60 (in Crore). The net investment of equity was Rs1159.40 (in Crore) and net debt investment was Rs263.20 (in Crore).

Hindustan Sanitaryware - Expansion Of Glass Container Capacity By 68% At Rs 210 Crores Investment

Hindustan Sanitaryware & Industries Ltd has informed that the Board of Directors of the Company at its meeting held on September 15, 2007 has approved the proposal for expansion of Companys Container Glass Division for manufacturing glass bottles and jars at a new location in central Andhra Pradesh with a capacity of approx. 425 tonnes per day, at an estimated cost of Rs 210 crores (the Project).

The Project is expected to be completed by the 1st quarter of calendar year 2009.

In this regards the Company has issued the following press release:

Hindustan Sanitaryware & Industries Ltd on September 15, 2007 has announced the expansion of Class container capacity by 68% at a projected invest of Rs 210 crores.

The division, which manufactures glass bottles and jars for liquor & beer, pharmaceuticals, food and beverages segments, has a current capacity of around 950 million containers per annum and has been operating at full capacity for sometime. Given the buoyancy in the economy and the consequent demand for high value food, pharmaceuticals and liquor and beer bottles, our customers are experiencing excellent growth rates and are very bullish on the future prospects. As a result, the Company has decided to expand its capacity by 425 tpd in a green-field location in central Andhra Pradesh, close to the inputs and the markets. Most of the state-of-the-art plant & machinery and designs will be imported from European suppliers providing the capability to produce very high-quality products.

FII Activity On 14-09-2007

The gross equity purchased was Rs.2,458.50 (in crores), and the gross debt purchased was Rs61 (in crores). The gross equity sold was Rs2505.10 (in crores), and the gross debt sold was Rs0.00 (in crores). The net investment of equity was Rs-46.60 (in crores) and the net debt investment was Rs61 (in crores).

FII Activity On 13-09-2007

The gross equity purchased was Rs.2,392.80 (in crores), and the gross debt purchased was Rs287 (in crores). The gross equity sold was Rs2110.90 (in crores), and the gross debt sold was Rs97.40 (in crores). The net investment of equity was Rs281.90 (in crores) and the net debt investment was Rs189.60 (in crores).

Fortis Healthcare To Invest Rs 25cr In Malar Hospitals

Chennai: Fortis Healthcare Ltd proposes to infuse up to Rs 25 crore into Malar Hospitals to upgrade facilities. Fortis Healthcare, via its wholly owned subsidiary, International Hospital Ltd and Oscar Investments Ltd, a promoter group company, bought Malar Hospitals. IHL purchased 28 per cent (39 lakh shares) of the current equity base of 1.39 crore shares of Malar Hospitals from its promoters at Rs 30 per share. As per the contract inked by Fortis and Malar Hospitals, International Hospital and Oscar Investments together would settle Malar Hospital''s Rs 14-crore debt, which will be converted into equity thereby expanding the equity capital of the company. As a result, Fortis will get another 25 per cent of the expanded capital via preferential allotment.

Siemens Finishes SITS Acquisition

Mumbai: Siemens Ltd on Sept 12, said it had finished the acquisition of Siemens Industrial Turbomachinery Services Pvt Ltd (SITS) from Pimac Engineers Pvt. Ltd. Siemens had bought 51 per cent stake in April 2005 and then an additional 23 per cent from Pimac Engineers in September, 2006. The balance 26 per cent stake in SITS was acquired on Sept 7. Bangalore-based SITS is a leading player in the area of overhauling, maintenance and servicing of gas turbines with revenues of around Rs 13.7 crore for the year ended September 2006. Siemens Ltd, said, they are now in a better position to offer complete solutions in the small gas turbine segment. This business enhances its offerings in the power generation sector and further strengthens our position as an integrated provider of products, systems and services in this fast growing segment.

FII Activity On 12-09-2007

The gross equity purchased was Rs.2,370.80 (in crores), and the gross debt purchased was Rs446.10 (in crores). The gross equity sold was Rs1,925.10 (in crores), and the gross debt sold was Rs48.10 (in crores). The net investment of equity was Rs445.70 (in crores) and the net debt investment was Rs398 (in crores).

Blue Dart To Infuse Rs 1,000cr For Expansion

New Delhi: Integrated express courier and package distribution firm Blue Dart Express on Sept 11, said it mulls to infuse about Rs 1,000 crore in the next five to eight years to expand its infrastructure and ground services. The company will infuse Rs 1,000 crore over the next five to eight years to expand its aircraft fleet, add material handling equipment and ramp up ground handling facilities. Blue Dart also unveiled a new ground express service Surfaceline, which will expand its coverage to 17,500 locations from 14,600 locations at present.

The company has a market share of 5.8 per cent in the ground segment but targets to take it to 20 per cent in the next five to eight years to achieve market leadership in the express industry. The company''s expansion plan will be funded via internal accruals. The tier-I and tier-II cities offer increasing opportunities for Blue Dart''s Surfaceline. The growth of organised retail in the country, emergence of SEZs, IT parks also provide prospects for our new service. The company has already infused Rs 22 crore in infrastructure building this year.

FII Activity On 11-09-2007

The gross equity purchased was Rs.1,444.30 (in crores), and the gross debt purchased was Rs49.10 (in crores). The gross equity sold was Rs1,507.10 (in crores), and the gross debt sold was Rs246.70 (in crores). The net investment of equity was -Rs62.80 (in crores) and the net debt investment was -Rs197.60 (in crores).

FII Activity On 10-September-2007

The gross equity purchased was Rs.2435.10(in crores), and the gross debt purchased was Rs0.00 (in crores). The gross equity sold was Rs1,854.20 (in crores), and the gross debt sold was Rs0.00 (in crores). The net investment of equity was Rs580.90 (in crores) and the net debt investment was Rs 0.00(in crores).

KBL Infusing Rs 150cr For Plant Overhaul

Pune: Pump manufacturers Kirloskar Brothers Ltd (KBL) is infusing upwards of Rs 150 crore in overhauling its facilities at Kirloskarwadi and in a new corporate office at Hinjewadi near Pune where housing for employees on ownership basis and at a concession will be part of the employee-retention package. As part of its plans to expand its two-year-old initiative into the water solutions business, the company also announced the acquisition of the Nagpur-based Gondwana Engineers Pvt Ltd. KBL bought out 100 per cent of GEPL''s equity at Rs 7.6 crore. Since KBL forayed this segment two years ago, it has undertaken water and sewage treatment projects worth Rs 270 crore in Hyderabad, Kerala and Bhopal. With big players such as Degremont and VA Technologies dominating the upper 40 per cent of the business, KBL hopes to increase its presence at the lower end of the business, which is fragmented and has small players in the fray. The Rs 80-crore project, which involves construction of 100,000 sq. ft. of office space, also envisages a township in phase two of the project with upmarket row housing and apartments.

FII Activity On 10-09-2007

The gross equity purchased was Rs.2,464.20 (in crores), and the gross debt purchased was Rs97.70 (in crores). The gross equity sold was Rs1,841.10 (in crores), and the gross debt sold was Rs0.00 (in crores). The net investment of equity was Rs623.10 (in crores) and the net debt investment was Rs 97.70(in crores).

Ranbaxy Laboratories To Acquire Companies In India

Mumbai: Ranbaxy Laboratories, the country''s second-biggest drugmaker by market value, mulls to acquire companies in India, a market that is hoped to rank among the world''s biggest in the next eight years. They will certainly acquire a couple of drugmakers. India''s pharmaceutical market likely to soar to $20 billion by 2015 from $6.3 billion a decade earlier, overtaking Brazil, Mexico and Turkey to rank among the world''s 10 largest as increasing incomes and a diabetes epidemic spur demand for drugs. The country''s patent laws were stiffened in January 2005 to recognise product patents and stop the copying of medicines patented after 1995 by using a different manufacturing process. Small and mid-sized companies will find it tougher to survive in this environment. In September that Ranbaxy may buy drug-ingredient makers in India. That will help it lower costs and increase its capacity to sell generic medicines in the US and Europe.

ICICI Mulls $2 Billion Infrastructure Fund

ICICI Bank is all set for setting up a $2 billion infrastructure fund. The fund will be managed by the bank and not by ICICI Ventures. This will be the largest infrastructure fund by an Indian entity to hit the market. Credit Suisse, which is helping ICICI Bank raise the funds, is in the process of tapping global investors. Roadshows have kicked off and the bank has already spoken to many global investors. It has received soft commitments for around $500 million, according to sources. Depending on the interest in the fund, the bank may also expand the size to above $2 billion. For the infrastructure fund, ICICI Bank will create a separate entity, in which it is likely to contribute around 15-20% of the funds. It is currently in the process of setting up the structure of the fund, which will invest in roads, ports, power, SEZs and other infrastructure-related activities.

ICICI is looking at overseas investors with long-term commitments of above seven years. Citigroup, Blackstone and 3i across the globe and Axis Bank in India have also launched similar infrastructure funds. Axis Private Equity is raising $500 million, for which it has already received soft commitments of $150 million from domestic and international investors. The fund has already made one investment and is evaluating opportunities worth $100 million. The fund will look at investments in energy, transportation, ports, healthcare, hotels, pipeline and roads.

The Axis venture will be looking at investments with a ticket size of $20-50 million and is looking at a 10-year commitment from investors, five years for investments and another five for divestments. Axis Bank will contribute around 10-15% of the fund.

DLF, Fortis To Put In Rs 3,000cr For 15 Hospitals

DLF and Ranbaxy promoter group company Fortis Healthcare have signed an agreement to commission 15 hospitals at an investment of Rs 3,000 crore. DLF and Fortis have signed an alliance agreement to develop about 15 ''Centre of Excellence'' hospitals in townships being developed by DLF in the first five years, industry sources said.

Under the agreement, the two companies could form a joint venture for the hospital projects. The healthcare firm may hold 74% stake, while the rest would lie with the realty major.The hospitals are likely to be of 250-400 bed capacity with a minimum built up area of 20,000 sq mt, the sources added.The sources, however, said while investment in the first phase could be minimal, it could be to the tune of Rs 200 crore per hospital in the second phase.Fortis, at present, has 12 running hospitals with several more already in the pipeline. The company recently announced its plan to invest Rs 1,800 crore for pan-India expansion, including setting up a medicity in Gurgaon and 28 hospitals by 2010.

FII Activity On 06-09-2007

The gross equity purchased was Rs.2,703 (in crores), and the gross debt purchased was Rs0.00 (in crores). The gross equity sold was Rs2,292.70 (in crores), and the gross debt sold was Rs30.90 (in crores). The net investment of equity was Rs410.30 (in crores) and the net debt investment was Rs-30.90 (in crores).

Mukand Ltd Enters JV With Bekaert

Mukand is expanding it''s capacity by 80 per cent this year and guess what, the company has already made arrangements for selling the products and not just that. In this process, Mukand has forayed into the stainless steel wires business, the highest end product in it''s value chain. For this Mukand has formed a joint venture with Belgium-based Bekaert, the world leaders in wires business that is seeing a 6-10 per cent demand growth in stainless steel wires world wide.

In a 50-50 JV between Bekaert and Mukand, a 12,000 tonne stainless steel wire plant will be set up in Satara district in Maharashtra at an investment of Rs 100 crore.The synergies are right in place as Mukand with a fully integrated plant will be one of the lowest cost producer globally and matched with technology and market competence that Bekaert enjoys worldwide, this facility will also double Bekaert''s capacity in stainless steel wires.

Smart move by Mukand as it goes up the value chain, not forgetting that the realisations will jump up by 50 - 70 per cent as the company produces the highest end product for it''s line of business.The company will target world markets and will be looking for most sophisticated end users in the auto sector to pump up profits further. Going by the magnificent turnaround story of Mukand, a further capacity expansion in some years also looks like a possibility.

Ranbaxy Targets US Bradley Pharmaceuticals

Ranbaxy Laboratories seems to have joined the race to acquire US-based Bradley Pharmaceuticals to strengthen its presence in the lucrative US dermatology generics market. The source said that Ranbaxy has placed a preliminary non-binding bid with the Fairfield, New Jersey-based company. Given Bradley''s market capitalisation of just under $330 million, this could be one of the largest overseas acquisitions by an Indian pharma company, after Dr Reddy''s takeover last year of Germany''s betapharm for $570 million. Earlier reports have said Dr Reddy''s has also bid for the US firm. Bradley Pharma said last week it had received three non-binding offers, but did not disclose the identity of the potential buyers. Deutsche Bank Securities is advising Bradley on the potential sale. According to IMS Health, the US dermatology market stood at $10.65 billion in 2006, up 2% from 2005. A buyout of Bradley, either by Dr Reddy''s or by Ranbaxy, would help the Indian firm catch up with global consolidation in the generics market, an industry observer said. Bradley Pharma markets a range of branded and non-branded generic drugs in the US, along with a few recently in-licensed products. The company recorded net sales of $145 million in 2006, with a net profit of $9.7 million, representing a 21.5% increase over 2005. Its subsidiary Doak Dermatologics accounted for 76% of its revenues. Kenwood Therapeutics, which markets gastroenterology, gyneacology and respiratory drugs, and A. Aarons, its generics subsidiary, account 20% and 4% respectively of net sales.

Bradley, however, slipped to a net loss of $1.7 million and reported a 13% fall in net sales to $32.2 million for the second quarter ended June. According to a company press release, this loss was mainly due to a new returns and inventory optimisation plan, implemented in April and designed to reduce future product returns.

Shreyas Shipping Acquires 51% Stake In Haytrans

Shreyas Shipping & Logistics Ltd has informed that the Company has acquired a stake of 51% in Haytrans (India) Ltd making Haytrans a subsidiary of the Company.

Haytrans thriving presence in international freight forwarding, worldwide network of 17 offices, established global reach, industry competence and strategically developed worldwide air freight and ocean freight network would effectively compliment Shreyas logistics business resulting in synergy in operations and increase in the geographical spread.

Reliance Acquires GAPCO

Reliance is good at finding oil, refining it and making petrochemicals. But it hasn''t succeeded in the marketing business at home. So its decided to go overseas to sell oil by buying out Mauritius headquartered Gulf African Petroleum Corp - GAPCO.

The GAPCO acquisition will give RIL access to the African market and it might be an outlet to sell oil from the new refinery coming up at Jamnagar.

RIL''s export-oriented refinery will start producing by December 2008. It will produce 7,00,000 barrels of fuels every day. It''s GAPCO acquisition makes sense because the company has a distribution network in Tanzania, Uganda, Kenya. Besides, it also operates large storage terminals in Dar Es Salaam and has over 250 outlets in retail and industrial markets. GAPCO could also add synergies to RIL''s value chain. The African countries are risky but there are signs that the economies are growing fast and growth could continue. Besides, RIL will get access to overseas markets at valuations that are attractive.

FII Activity On 04-09-2007

The gross equity purchased was Rs.2,514.70 (in crores), and the gross debt purchased was Rs0.00 (in crores). The gross equity sold was Rs1,987.10 (in crores), and the gross debt sold was Rs109 (in crores). The net investment of equity was Rs527.60 (in crores) and the net debt investment was -Rs109 (in crores).

Paramount Communications Acquires UK Based AEI Cables

Paramount Communications Ltd has announced on September 03, 2007, the acquisition of the business of AEI Cables in an all cash deal. AEI Cables has a turnover of approximately GBP 65 million (INR 533 crores).

Elara Capital Plc, a London- based mid-market advisor, was the sole corporate finance adviser to the Company for this transaction. This is Elara Capital''s first cross border transaction involving two listed companies.

Acquisition Synergies

The Company has a strong presence in India and is the key cable player in all infrastructure sectors including power, railways, telecom and industrial projects. AEI Cables is a leading manufacturer of cables solutions to global markets and is a wholly owned subsidiary of the international electronic sensors and components group TT Electronics plc, listed on The London Stock Exchange. Cables are manufactured at the AEI Cables state - of - the - art production facility at Birtley, near Newcastle upon Tyne in the North East of England. Cables supplied to the defence, rail, power and mining sectors are specialist cables manufactured with the proprietary know how of AEI, developed over the last few decades. Also, AEI has world class cutting edge research and development facilities which positions AEI to meet the ever changing demands of customers for these specialist cables.

The acquisition of AEI Cables by the Company will:

a) Make the Company the largest listed Indian company in the cable industry with an annual turnover of over INR 1,100 crores.

b) Significantly strengthen its product range for infrastructure segments such as Railways, Mining & Power and Defense in India and the UK.

c) Enable faster expansion in International Markets such as Far East, Middle East and Africa, where the AEI brand is well established.

d) Access to cuffing edge technical know bow to continue developing new range of products to keep its competitive edge in India and internationally.

FII Activity On 03-09-2007

The gross equity purchased was Rs.3,019.50 (in crores), and the gross debt purchased was Rs19.40 (in crores). The gross equity sold was Rs2,342.20 (in crores), and the gross debt sold was Rs58 (in crores). The net investment of equity was Rs677.30 (in crores) and the net debt investment was -Rs38.60 (in crores).

Stratify Software Mulls To Infuse $10Mn In India

Bangalore: Stratify Software, formerly known as PurpleYogi, plans to infuse $10 million in the next two years on its expansion in India. This US-based company, led by Indians, also plans to take over a suitable legal process outsourcing (LPO) firm. From the early Internet days and the high-brand-recall, PurpleYogi to the sober and profitable Stratify, the company has transformed in more ways than one.

They have now chosen to aim corporates and primarily the legal sector. While underlying technology electronic discovery is the same, its applications have changed. E-discovery was a $1.9 billion market in 2006 and is projected to grow to $4.07 billion in 2009, according to a Socha-Gelbmann report. Version 8.0 of Stratify''s Legal Discovery a knowledge management tool tailored for the legal industry will be out soon. It uses statistical analysis to find patterns of words (compatible with major languages) and then organises PDFs, documents, mails, and 400 formats in which data is stored, to make it easier for attorneys and reviewers to act on information.

Ixia Mulls To Invest Rs 4.5Cr In Bangalore

Bangalore: Business is now transferring from California to India for Ixia, a $165-million firm that tests networks before a launch. Expansion plans are afoot, with a Rs 4.5-crore investment in a new facility in Bangalore. A total of 150 staff at Kolkata and Bangalore work on sales, research, training and customer support. The team in India is specialised in performance and functional testing of high performance IP communication devices and networks. With the launches of triple play, expansion in telecom and broadband networks in the sub-continent, Ixia is witnessing increasing demand for its product a device that emulates subscribers of a network, their usage patterns and performance of the network. The Optixia series is used by network equipment firms such as Nortel, Juniper, Internet service providers, carriers (operators) and even research and development labs. The company is looking at taking over firms with turnover in the range of $20 million to $80 million. They are eyeing at both multinationals and Indian firms. Firms that have capabilities in wireless-to-IP data transmission will be valuable.

FII Activity On 31-08-2007

The gross equity purchased was Rs.4,125.70 (in crores), and the gross debt purchased was Rs0.00 (in crores). The gross equity sold was Rs4,790.10 (in crores), and the gross debt sold was Rs263.90 (in crores). The net investment of equity was -Rs664.40 (in crores) and the net debt investment was -Rs263.90 (in crores).