FII Activity On 30-01-2008

The FIIs stood as net seller in equity. The gross equity purchased was Rs2,924.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,209.60 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs285.10 Crore) and net debt was Rs0.00 Crore

Tata Chemicals Entered Into Definite Agreements To Acquire General Chemical Industrial Products Inc

Tata Chemicals Ltd has informed that the Company has entered into definitive agreements to acquire General Chemical Industrial Products Inc. (GCIP), a US based chemical Company for USD 1,005 million. Harbinger Capital Partners is the majority owner of GCIP. The transaction is conditioned on the receipt of stockholder and other regulatory approvals.

GCIP is a significant Soda Ash producer in the USA with a capacity of 2.5 million TPA of Natural Soda Ash. GCIP has its manufacturing facilities located at Green River Basin in Wyoming, USA.

FII Activity On 29-01-2008

The FIIs stood as net seller both in equity and Debt. The gross equity purchased was Rs2,600.30 Crore and the gross debt purchased was Rs288.10 Crore while the gross equity sold stood at Rs4,113.60 Crore and gross debt sold stood at Rs296.60 Crore. Therefore, the net investment of equity reported was (Rs1,513.40 Crore) and net debt was (Rs8.60 Crore).

FII Activity On 29-01-2008

The FIIs stood as net buyer both in equity and Debt. The gross equity purchased was Rs4,854.60 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs4,185.60 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs669.10 Crore and net debt was Rs0.00 Crore.

SCDL To Infuse $3 Million In Leased US Facility

Chennai: The Rs 793-crore Shasun Chemicals & Drugs Ltd (SCDL) has hired a lab in Piscataway (New Jersey) in the US that will be utilised for contract research and manufacturing activities. The facility, in which Shasun will infuse $ 3 million, will help in the development of bulk drugs. The company did not expect great revenues out of this facility since it is only a lab. Hiring the facility would help us achieve the objective without actually investing more. The company is looking at about Rs 920 crore as topline during the current fiscal. The Visakapatnam facility, coming up at an investment of Rs 120 crore would be fully operational in two years from now.

NTPC Likely To Invest More On Abroad Coal Assets

New Delhi: NTPC Ltd is planning to infuse over $1 billion on purchasing coal assets abroad over the next few years as part of its efforts to secure long-term fuel linkages. The generation major, which is in fairly advanced stages of looking for opportunities in countries such as Indonesia and Australia, Nigeria, Mozambique and South Africa, has already earmarked around $125 million to be pumped into Coal Ventures International Ltd (CVIL) a alliance firm co-promoted by state-owned Steel Authority of India Ltd, Rashtriya Ispat Nigam Ltd, Coal India Ltd and National Mineral Development Corporation. They are on the lookout and expect to strike a coal mine deal overseas during the current year as part of a long term measure to ensure fuel security for our coal-fired stations.

ICICI Venture Infuses $24 Million In VHPL

Bangalore: ICICI Venture has made an equity investment of $24 million via Iven Medicare in Vikram Hospital (VHPL) for a substantial stake. The investment will enable the Mysore-based Vikram Hospital to establish a pan Karnataka footprint. Iven Medicare, the health arm of ICICI Venture, will assist VHPL, a family-owned business, to expand its current infrastructure by offering dedicated support in key areas like Medical Informatics, quality and accreditation, HR practices, commercial and technology among others. ICICI Venture has created a $250 million fund kitty for infusing in 11 such deals.

FII Activity On 25-01-2008

The FIIs stood as net seller in equity while net buyer in Debt. The gross equity purchased was Rs5,347.20 Crore and the gross debt purchased was Rs70.80 Crore while the gross equity sold stood at Rs6,698.40 Crore and gross debt sold stood at Rs49.60 Crore. Therefore, the net investment of equity reported was (Rs1351.20 Crore) and net debt was Rs21.30 Crore.

Essar Steel To Develop Jetty At Hazira

Ahmedabad: Essar Steel''s expansion plan in Hazira has hit an infrastructure barrier, as the company''s captive port facility is not capable to handle heavy engineering equipment needed for the on-going expansion project at the steel plant. The group has asked urgent approval from the Gujarat Maritime Board (GMB) to construct a Ro-Ro jetty. In a letter dated January 19, 2008, the Essar group has sought necessary clearances on urgent basis to build the jetty. In the Vibrant Gujarat Global Investors'' Summit held last year, Essar SEZ Hazira Ltd, a group subsidiary, had committed investments to the tune of Rs 12, 750 crore to build a steel plant, Hazira plate mill and a deep- water port and allied facilities at Surat.

ICICI To Infuse Rs 140 Cr In Pune Hospital

Mumbai/ Pune: ICICI Ventures, the private equity arm of ICICI Bank, has decided to put in Rs 140 crore in Pune-based Sahyadri Hospitals. The investment will be routed through IVEN Medicare, a special purpose vehicle floated by ICICI Ventures to manage its investments in the healthcare sector. At present, Sahyadri Hospitals runs a 250-bed super speciality hospital, two secondary care hospitals and one clinic in Pune.

Sahyadri Hospitals plans to develop a network of hospitals and care centres to reach 1,000 beds in one year and 3,000 beds in three years with an investment of about Rs 500 crore. The company will look at setting up new hospitals, taking over existing ones as well as working with social organisations to reach the intended capacity.

FII Activity On 24-01-2008

The FIIs stood as net seller both in equity while net buyer in Debt. The gross equity purchased was Rs6,082.50 Crore and the gross debt purchased was Rs662 Crore while the gross equity sold stood at Rs8,582.30 Crore and gross debt sold stood at Rs28 Crore. Therefore, the net investment of equity reported was (Rs2,499.90 Crore) and net debt was Rs634.10 Crore.

FII Activity On 23-01-2008

The FIIs stood as net seller both in equity and debt. The gross equity purchased was Rs7,749.20 Crore and the gross debt purchased was Rs116.30 Crore while the gross equity sold stood at Rs10,005.50 Crore and gross debt sold stood at Rs487.40 Crore. Therefore, the net investment of equity reported was (Rs2,256.20 Crore) and net debt was (Rs371.10 Crore).

R Systems International Acquires Sento Europe

R Systems International Ltd has informed that pursuant to approval of the Board of directors of the Company and signing of the Asset Purchase Agreement for acquisition of entire share capital of Sento Europe B.V., a Netherlands corporation and Sento S.A.S., a French corporation (collectively known as Sento Europe), the acquisition of the entire share capital of Sento Europe has been completed on January 23, 2008.

From today onwards Sento Europe B.V., a Netherlands corporation and Sento S.A.S., aFrench corporation are the wholly owned subsidiaries of the Company.

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

R Systems International Ltd on January 23, 2008 has announced that it has completed the acquisition of Sento Europe B.V., a Netherlands corporation and Sento S.A.S., a French corporation (collectively known as Sento Europe) from Sento Corporation, USA.

Sento Europe with operations in Enschede, Netherlands and Metz, France provides a wide range of integrated technical support and customer care services through multiple channels in 18 European languages and 24 countries. Sento Europe primarily focuses on the technology sector and amongst its clients are the worlds leading consumer electronic Companies. Sento Europe achieved revenues of approximately USD 14.85 million during the year ended March 2007.

We are delighted to complete the acquisition of Sento Europe announced earlier. We welcome the customers and employees of Sento Europe, said Rekhi Singh, CEO of R Systems. The acquisition further enhances our global delivery capabilities, expands our customer base in high technology sector and gives us strategic footing in Europe.

Arvind To Put In Rs 400 Cr In Retail

Chennai: Arvind Mills has drawn an investment budget of Rs 400 crore to open eight Megamart Outlet Centres - large format value-stores - and increase the number of small stores called Megamart stores by 50 over the next two years. The company is looking at revenues of Rs 2,000 crore by 2012, through its retail chains Megamart Outlet Centre and Megamart stores. The company opened its first Megamart Outlet Centre, spread over 40,000 sqft, in Chennai today.

The outlet will feature about 130 brands ranging from mens, womens and kidswear, accessories, luggage, footwear and kitchenware, Sanjay Lalbhai, managing director, Arvind Mills told reporters. Arvind Mills plans to open three more Megamart Outlet Centres in Pune, Hyderabad and Bangalore before May and five more large Outlet Centres, including one at Old Mahabalipuram Road, Chennai''s IT corridor, by the end of March 2009 at an investment of Rs 400 crore.

The company expects to open 30 Megamart Outlet Centres in top 20 cities across the country by 2012. It will also expand the number of small stores from 75, spread over 25 cities, to 125 by March 2009 and 200 by 2012, with a presence in 75-80 locations across tier-II and tier-III cities. The Megmart Outlet Centre concept operates with the objective of grouping large numbers of stores at the same location. Over 130 brands will be showcased at each outlet, while smaller outlets will showcase between 15 and 20 brands.

FII Activity On 22-01-2008

The FIIs stood as net seller both in equity and debt. The gross equity purchased was Rs4,896.90 Crore and the gross debt purchased was Rs142.40 Crore while the gross equity sold stood at Rs7,322.50 Crore and gross debt sold stood at Rs236.40 Crore. Therefore, the net investment of equity reported was (Rs2,425.70 Crore) and net debt was (Rs93.90 Crore).

Godrej Consumer To Acquire South Africa''s Leading Hair Brand ''Kinky''

Godrej Consumer Products Ltd has informed that the Company on January 22, 2008 has entered into an agreement for acquiring the KINKY hair business in South Africa.

Kinky hair brand is one of the leading brands in the South African hair business, which is a 36 year old business set up by a family of entrepreneurs in South Africa. The Kinky brand is a self created premium brand South Africa and the trademark is registered in several countries of the world.

Kinkys products include dry hair, hair braids human hair extensions, hair pieces, wigs and wefted pieces. Kinky also offers hair accessories like styling gels, hair sprays, oil free shampoo, bonding glue and bonding glue removal.

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

Godrej Consumer Products Ltd on January 22, 2008 has signed an agreement to acquire the Kinky hair business in South Africa.

Commenting on the acquisition, Mr. Adi Godrej, Chairman and Managing Director, of the Company, said, This acquisition enables us expand into a new line of business and diversify our hair product portfolio. The acquisition of a reputed brand like Kinky will enable us to strengthen our portfolio of product offerings in South Africa. This acquisition is our fourth and considerably enhances our scale and size as an Indian FMCG player in the International arena. We are excited about the opportunities this transaction offers.

Deutsche Bank Arm Acquires Stake In Golden Gat

Mumbai: Deutsche Bank''s global alternative investment management business RREEF has made its first real estate investment in India. RREEF has almost concluded the purchase of an undisclosed stake in Bangalore and Hyderabad-based real estate development company, Golden Gate Properties, for $70 million (Rs 273.5 crore). Golden Gate Properties is an integrated real estate development company and it has to date a portfolio of 10 completed projects - 8 residential apartment developments and 2 commercial projects in established neighbourhoods within Bangalore and Hyderabad.

The company was advised by Fortune Financial in this transaction. Golden Gate is also in the process of building 20,000 units across 9 projects with a built-up area totalling 23 million square feet. It also has plans to build mixed-use developments and Special Economic Zones (SEZ) across south India.

FII activity On 21-01-08

The FIIs stood as net sellers as the gross equity purchased was Rs.4,972.30 Crore and the gross debt purchased was Rs.78.40 Crore while the gross equity sold stood at Rs.6,328.40 Crore and gross debt sold stood at Rs.103.30 Crore. The net investment of equity reported was Rs.-1,356.10 Crore and net debt was Rs.-6.20 Crore.

FII activity On 18-01-2008

On Friday, the FIIs stood as net seller both in equity and debt. The gross equity purchased was Rs4303.30 Crore and the gross debt purchased was Rs78.50 Crore while the gross equity sold stood at Rs6,489.30 Crore and gross debt sold stood at Rs422.40 Crore. Therefore, the net investment of equity reported was (Rs2,186.0 Crore) and net debt was (Rs343.90 Crore).

Vodafone To Invest $6 B In India

New Delhi: Setting an ambitious target of 100 million cellular subscribers, leading private GSM operator Vodafone-Essar on Monday announced an investment of $6 billion (about Rs 24,000 crore) in the next three years.

"We shall be investing $2 billion annually for the next three years on our Indian operations... We have set a target of reaching 100 million subscriber base from the current level of 40 million," UK-based telecom giant Vodafone's CEO Arun Sarin told reporters here today.

Asked about the funding of investments, he said the investments would be made from the Vodafone's treasury.

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On the issue of ongoing controversy over spectrum allocation, Sarin said: "We hope the issue will be resolved at the earliest... We need more spectrum as the spectrum and the capital expenditure go hand in hand. We have presented our views to the Indian government. We are very positive about the government," he said.

Sarin also announced that the company would be launching a range of new services in India, but he declined to elaborate on these new offerings.

Satyam Computer Acquires Bridge Strategy Group

Satyam Computer Services Ltd on January 21, 2008 has announced that it has entered into a definitive agreement to acquire Bridge Strategy Group, a Chicago, III-based management consulting firm. In making the $35 million, all-cash purchase, Satyam significantly reinforces its strategy consulting and business transformation capabilities.Bridge Strategy Group is a highly respected organization that is well known for its exceptional professionals and its acumen in seven key industries, said Satyam Founder & Chairman, B Ramalinga Raju. By absorbing the Company, we gain an immediate influx of 36 brilliant and experienced strategy consultants, most of whom are alumni of the worlds best strategy consulting firms and business schools. We also significantly bolster our ability to provide the entire spectrum of services to global customers. At the same time, Bridge Group clients gain access to Satyams world-class business process and technology skills and global resources.Bridge Strategy, which was founded in 1998, earned $17 million in revenue last fiscal year. It develops profitable growth, operations design, performance improvement, and execution strategies for clients of varying size. It also boasts a strong thought leadership focus, and is committed to helping its clients rapidly improve their business performance.Numerous factors make the acquisition ideal for Satyam, Raju said. The organizations strategy, when purchasing other companies, is to:- Add higher value service offerings- Bridge competency gaps- Enhance leadership capabilities- Add sound and significant customer relationships- Strengthen the brandBridge Strategy does all of the above, he said. With its experts as part of our team, Satyam will deliver superior, end-to-end transformational solutions with even greater speed and efficiency. As we deepen our relationships with longstanding customers, they expect us to provide highly strategic counsel. We are now more able to accommodate that demand.

FII Activity On 17-01-2008

The FIIs stood as net seller both in equity and debt. The gross equity purchased was Rs4,662.30 Crore and the gross debt purchased was Rs81.80 Crore while the gross equity sold stood at Rs6,941.90 Crore and gross debt sold stood at Rs182.50 Crore. Therefore, the net investment of equity reported was (Rs2,279.60 Crore) and net debt was (Rs100.80 Crore).

HDFC MF Ties Up With South Indian Bank

To enhance its distribution reach, HDFC Mutual Fund has entered into a strategic alliance with South Indian Bank to distribute its mutual fund schemes across India. As per the agreement, South Indian Bank will offer the entire bouquet of HDFC Mutual Fund products at its select 100 branches across the country. Dr.V.A.Joseph, Chairman & CEO, South Indian Bank and Mr. Milind Barve, Managing Director, HDFC AMC, made this joint announcement in Mumbai at the Exchange of Documents event. Speaking on the occasion Dr. V.A.Joseph, Chairman and CEO of South Indian Bank said SIB with 100% CBS branches across the country will add this new kitty in our financial supermarket for the benefit of our customers. This relationship should help the bank to add more fee based income which ultimately increases shareholder value.

HDFC Mutual Fund has set the objective of enhancing its customer base by providing a range of mutual fund products and superior customer service. The broad network of South Indian Bank is ideally positioned to provide us the required distribution platform. Mutual Funds as an investment option is not widely understood and therefore under owned and our partnership with South Indian Bank will help us to spread the knowledge and understanding of Mutual Fund Products.

Tata Steel To Infuse Rs 600cr In Oman

Kolkata: Tata Steel Ltd will infuse $100-150 million in developing the Uyun limestone mine in the Sultanate of Oman in next three years. The mine will produce 10 million tonnes of limestone annually for consumption of Tata Steel''s facilities in India and Corus plants in abroad. The world''s largest steel marker has concluded an alliance agreement with Oman''s Al Bahja Group to develop the Uyun limestone deposits in Salalah. Tata Steel will hold 70 per cent stake in the joint venture, Al Rimal Mining LLC.

FDI In Metlife Likely To Cross 26%

Mumbai: GS Strategic Investments, a subsidiary of Goldman Sachs, is purchasing a 39.36 per cent stake in M Pallonji Enterprises Ltd (MPEL), which owns a 10 per cent stake in Metlife India Insurance Company. Metlife India is 74 per cent owned by Indian companies and 26 per cent by US-based Metlife. One of the promoters of Metlife India, the M Pallonji group, has accorded to divest a 39.36 per cent stake in its subsidiary MPEL to the Goldman Sachs unit, which indirectly gains a 3.9 per cent interest in Metlife India Insurance Company. Though FDI in insurance companies is capped at 26 per cent, the Insurance Regulatory and Development Authority (IRDA) does not take into account stakes held by foreign entities in the Indian promoter of an insurance company as long as the stakes are not held by the foreign partner in the insurance company itself. The decision to sell a stake by the M Pallonji group to Goldman Sachs was taken to augment capital flow to Metlife India Insurance Company. The promoters about a month ago invested Rs 350 crore of capital in Metlife India to take its total paid up capital to Rs 1,230 crore.

Apollo Tyres Establishing Plant In Hungary

New Delhi: Apollo Tyres on Jan 16 declared an investment of Rs 1,160 crore to establish a manufacturing unit for passenger car tyres in Hungary. In the first phase, the facility will have a capacity of 7 million tyres, with production likely to start in the next 18 months. The manufacturing facility in Gyongyos, Hungary will become its center to service our passenger car radial customers in Europe and North America. Currently, Apollo Tyres exports to these regions where the passenger car tyres market is pegget to be of 240 million units size annually and growing at almost two per cent. In the domestic market, the company is establishing a unit in Chennai at an investment of Rs 220 crore in addition to its existing four production units.

Vedanta Resources Plans To Invest $12.5bn

Mumbai: The metals and mining company Vedanta Resources to infuse about $12.5 billion to speed up its business growth. It is targeting at increasing production capacity for each of its primary metals such as aluminium, copper, zinc and lead to one million tonne per annum. Apart from this, it also intends to increase its iron ore production to 20 million tonnes. On the power generation front, the company plans to set up commercial power generation capacity of close to 10,000 MW in the next few years. The Vedanta Group''s business partnership summit brought together its vendor partners, entrepreneurs and industry experts in the metals and mining sector on a single platform. An aluminium technology park in Chhattisgarh has been conceived with the support of the Chhattisgarh government, where entrepreneurs will establish downstream product units such as extrusions, castings and PP caps.

FII Activity on 16-01-2008

The FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs5,209.90 Crore and the gross debt purchased was Rs249.10 Crore while the gross equity sold stood at Rs4,984.10 Crore and gross debt sold stood at Rs45.10 Crore. Therefore, the net investment of equity reported was Rs225.80 Crore and net debt was Rs204 Crore.

Great Offshore Near To Rs 2,000cr Overseas Acquisition

Mumbai: Great Offshore Ltd (GOL), the Mumbai-based integrated offshore oilfield services company, has made an offer to buy a controlling stake in an unnamed overseas company. The deal size is hoped to be over $500 million (around Rs 2,000 crore). The overseas company will own two semi-submersible drilling rigs that are estimated to cost around $1.40 billion. Motilal Oswal Investment Advisors was the advisor and Luthra & Luthra the legal advisor for the transaction. GOL was looking at taking over oil rigs and stakes in oil rig companies for sometime. GOL is eyeing at supplying rigs to these firms.

FII Activity On 15-01-2008

The FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs4521.50 Crore and the gross debt purchased was Rs241.90 Crore while the gross equity sold stood at Rs4347.20 Crore and gross debt sold stood at Rs119.40 Crore. Therefore, the net investment of equity reported was Rs174.40 Crore and net debt was Rs122.40 Crore.

Vedanta Mulls Rs 24,000cr Orissa Plant For Steel Entry

New Delhi: Non-ferrous metals giant Vedanta Resources is planning to foray the Indian steel sector with a 5 million tonne plant at an investment of about Rs 24,000 crore in Keonjhar district of Orissa and conceiving of its commissioning by 2012-13. It is planning to build a 5 million tonne steel plant at Keonjhar district of Orissa. Vedanta, which is the holding company of Sterlite Industries, has proposed to form a company - Sterlite Iron and Steel Company - for the project. The company will be a alliance between the Vedanta group and Volcan Investments, Vedanta''s holding company. Vedanta has started trial run of its Rs 3,500 crore alumina plant at Lanjigarh in Orissa but is yet to ensure adequate bauxite linkage for its different projects.

ICICI Ventures To Infuse In Healthcare

India''s leading private equity fund ICICI Ventures has floated a special company to invest $250 million in healthcare in the next three years. ICICI Ventures has created I-Ven Medicare, a special vehicle for investments in healthcare, for the purpose. For the total investment, ICICI Ventures has already invested $80 million in the healthcare sectors of Maharashtra, Delhi and West Bengal. The rest would be raised through foreign partnerships and debts. I-Ven Medicare will be the lead vehicle for all ICICI Ventures investments and buyouts in the booming healthcare sector with a special focus on healthcare delivery systems. I-Ven will actively work with the portfolio companies in the areas of procurement, branding, national and international business development and improvement in systems and processes.

Maytas Infra To Invest $3 Bn In BOT Projects

HYDERABAD: Hyderabad-based construction and infrastructure major Maytas Infra is lining up investments of $3 billion (approximately Rs 12,000 crore) on build-operatetransfer (BOT) projects in the country.

Like its peers, Maytas is also aggressively bidding for these projects to lift revenues and garner higher returns from equity. Infrastructure spends are expected to top $320 billion over the next five years and many firms have floated special purpose vehicles which tie-up with strategic or financial partners to execute BOT projects.

“Maytas Infra raised Rs 327 crore from its initial public offering in October 2007. And half this money will be spent on various BOT projects”, Mohan Gurunath, the company’s strategic head told ET. It has already bagged projects valued at Rs 9,000 crore and hopes to secure contracts for another Rs 11,000 crore in the near term.

The portfolio of BOT projects that Maytas Infra will execute are diverse, spanning power, roads and port buildings among others. The company’s stake in these projects varies from 19.5% to 50%. “There are no other private players in projects where our stake is around 50%.

However, we are open to tying up with other players in case of any shortfall in resources while executing the project”, he said. One of the projects in their portfolio include the Rs 1,500-crore Machilipatnam port project spread across 6,266 acres.

Hyderabad-based Nagarjuna Construction (NCC) and Srei Finance are the other partners of the project. It is also executing a Rs 1,500 crore power project in the state where the company has 19.5% stake. The project, which entails building a 464-mw natural gas power plant, has NCC, GVK and Malaysia-based IJM as other consortium partners.

Maytas has also bagged contracts worth Rs 200 crore for two airports in Karnataka. The company, along with consortium partners Navbharat, Italthai and IL&FS, has been shortlisted for the Rs 9,200-crore Hyderabad Metro Rail project. The technical evaluation is complete and financial bids are set to be floated soon.

Motilal Oswal To Infuse Rs 10cr In AMC

Coimbatore: The board meeting of Motilal Oswal Financial Services Ltd has, subject to receipt of necessary clearances, if any, approved investment of Rs 10 crore in the share capital of an Asset Management Company to be set up in accordance with the provisions of Securities & Exchange Board of India (Mutual Fund) Regulations, 1996. The board also approved investment of Rs 1 crore in the share capital of a Trustee Company to be established in accordance with the provisions of the SEBI Regulations.

FII Activity On 11-01-2008

The FIIs stood as net seller both in equity while net buyer in debt. The gross equity purchased was Rs4,334.20 Crore and the gross debt purchased was Rs580.60 Crore while the gross equity sold stood at Rs4,965 Crore and gross debt sold stood at Rs295.20 Crore. Therefore, the net investment of equity reported was (Rs630.80 Crore) and net debt was Rs285.40 Crore.

GAIL, Coal India To Set Up Coal Gasification Project

GAIL India Ltd on Thursday said it has signed a pact with Coal India Ltd to set up a coal gasification project for production of a gas used to make fertilisers. The project will use 5,000 tonnes of coal a day to make 7.76 million standard cubic meters a day of gas. The gas produced will be used to make 3,500 tonnes of urea per day. The project would need an investment of around Rs 2,400 crore.

FII Activity On 10-01-2008

The FIIs stood as net buyer both in equity and in debt. The gross equity purchased was Rs4,859.70 Crore and the gross debt purchased was Rs677.70 Crore while the gross equity sold stood at Rs4,585.10 Crore and gross debt sold stood at Rs605.70 Crore. Therefore, the net investment of equity reported was Rs274.60 Crore and net debt was Rs72 Crore.

ICICI Prudential Infuses Rs 62cr In Sabari Inn

Chennai: ICICI Prudential PMS Real Estate Securities Fund has taken Rs 62-crore equity in the Chennai-based Sabari Inn Pvt Ltd to fund the latter''s Rs 250-crore expansion project, phase-I. The Fund has also indicated eagerness to bring in substantial investments for the next phase of expansion too. Sabari Inn Pvt Ltd, said the company mulls to have at least 15 hotels by 2011-12. It currently has two four-star properties in Chennai 70-room Quality Inn Sabari in T Nagar and 90-room Quality Hotel Sabari Classic on Old Mahabalipuram Road (OMR), which the company soft-launched a couple of months ago.

FII Activity On 09-01-2008

The FIIs stood as net buyer both in equity and in debt. The gross equity purchased was Rs5,529.90 Crore and the gross debt purchased was Rs744 Crore while the gross equity sold stood at Rs4,476.50 Crore and gross debt sold stood at Rs86.80 Crore. Therefore, the net investment of equity reported was Rs1053.40 Crore and net debt was Rs657.20 Crore.

Volvo To Invest Rs 80 Cr For Setting Up Manufacturing Plant

NEW DELHI: Bus maker Volvo Bus Corporation will invest Rs 80 crore to set up a bus body manufacturing plant at Hosakote, Bangalore.

The company has tied up with India's Jaico Automobiles to form a joint venture company, Volvo Bus Body Technologies India Pvt Ltd, Volvo Bus Corporation Director Akash Passey told reporters at the 9th Auto Expo here.

The JV company would have a manufacturing capacity of 1,000 buses per year and cater to bot

ICRA In Mou With State Bank Of Mysore To Rate Bank Loans Under RBI''s New Capital Adequacy Framework

ICRA Ltd has informed that ICRA Ltd (ICRA) and State Bank of Mysore have signed a Memorandum of Understanding (MoU) under which ICRA will assign ratings to the Banks loans and its other exposures under the standardized approach of RBIs New Capital Adequacy Framework for Basel-II.

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

Credit rating agency ICRA Ltd (ICRA) and State Bank of Mysore have signed a Memorandum of Understanding (MoU) under which ICRA will assign ratings to the Banks loans and its other exposures under the standardized approach of RBIs New Capital Adequacy Framework for Basel-II.

ICRAs ratings for the standardized approach would be carried out under its Line of Credit rating service and would enable State Bank of Mysore to assign the new risk weights applicable to its borrowers under Basel-II. The risk weights would be linked to the various rating categories and would be as per RBIs Basel II guidelines.

To assist potential and existing borrowers of State Bank of Mysore in obtaining ratings, ICRA is offering special terms to the clients of State Bank of Mysore.

The MoU between ICRA and State Bank of Mysore would assist in implementing RBIs New Capital Adequacy Framework under Basel-II.

ICICI Ventures To Invest Rs 140 Cr In Pune Hospital

ICICI Ventures is going to make Rs 140 crore investment in Pune-based Sahyadri Hospitals. The investment will be routed through IVEN Medicare, a special purpose vehicle floated by ICICI Ventures to manage its investments in the healthcare sector.

At present, Sahyadri Hospitals runs a 250-bed super speciality hospital, two secondary care hospitals and one clinic in Pune. Sahyadri Hospitals intends to create a network of hospitals and care centres to reach 1,000 beds in one year and 3,000 beds in three years with an investment of about Rs500 crore. The expansion will initially be around Pune extending to Navi Mumbai, western Maharashtra, Marathwada and the rest of Maharashtra in that order.

Ford India To Put In $500mn To Manufacture Small Car

Chennai: Ford Motor Company is looking at rolling out a small car for the fast-growing Indian passengar car market. The company has earmarked $500 million (about Rs 2,000 crore) for the purpose. Ford announced a $500 million investment in Thailand in 2007 to build small cars - just weeks after launching a small car production line at a new $500 million facility in Nanjing, China. The $500 million investment in India is aimed at achieving significant volumes in both vehicles and engines in the next two years, and will make India a production hub for small cars in the Asia-Pacific region, the source said.

Future Cap Likely To Enter Asset Management, Retail Broking

Future Capital Holdings (FCH), the financial services arm of Kishore Biyani''s Future Group, is likely to get into asset management and retail broking. FCH is currently into investment advisory, retail financial services and research. FCH will issue 6.42 million shares at a price band of Rs 700-765 to raise nearly Rs 490 crore. The IPO will close on 16 January 2008.

FCH''s proposed foray into asset management and retail broking follows similar plans by others including Edelweiss Capital, Bharti-AXA, Ambit-Nikko, UBS and Dawnay Day. There are 33 mutual funds which manage Rs 5.5 lakh crore worth assets under management. FCH, however, will not look at any acquisitions as it prefers to build its businesses from scratch. Fund houses see big potential in the retail financial services space, as Indian households invest a mere 4-5 percent of their savings in equity, or equity-linked products compared to 20 per cent in developed markets.

FII Activity On 08-01-2008

The FIIs stood as net seller both in equity as well as in debt. The gross equity purchased was Rs4,891.40 Crore and the gross debt purchased was Rs104.60 Crore while the gross equity sold stood at Rs4,972.30 Crore and gross debt sold stood at Rs242.60 Crore. Therefore, the net investment of equity reported was (Rs80.90 Crore) and net debt was (Rs138 Crore).

Mahindra & Mahindra Acquires Renowned Italian Design House, GRD Italy

Mahindra & Mahindra Ltd has announced that the Company has signed a binding agreement to acquire the business of G R Grafica Ricerca Design S.r.l (GRD), an Italian auto designing, Body engineering and feasibility and styling Company based out of Turin, Italy. With this acquisition, the Company intends to develop a global design centre for the Group and cater to global Auto OEMs. The Company would acquire the said business through a subsidiary to be newly incorporated and proposed to be named as Mahindra Graphic Research and Design (MGRD).

The synergies resulting from this acquisition will not only help us strengthen our existing design capabilities but will also help us emerge as a global auto design powerhouse. Complementary capabilities between Mahindra & GRD will enhance the product development capabilities, provide a solid European footprint for M&M to leverage technologies & skillsets by harnessing the talent pool of designers and engineers, said Dr. Pawan Goenka, President, Automotive Sector, of the Company.

GRD is one of the leading Companies based out of Turin, Italy, which executes designing, Body engineering and feasibility and styling work for leading Auto OEMs and designing Companies based out of Europe and Asia. The Company employs a team of 60 highly experienced people with high technical competence and experience across various designing segments. GRD has developed strong standards and skill sets in body and trim design areas. For the year 2007, the revenues of GRD were around €6 million.

The current GRD management team will continue to drive all operations for MGRD. The transaction is expected to close by end of January 2008.

Bajaj Hind To Enter Infrastructure Sector

New Delhi: Bajaj Hindusthan (BHL), the Shishir Bajaj-owned, will be entering into the infrastructure sector in a bid to diversify and secure the company from the cyclical nature of the sugar business. Of late, BHL has bid for two phases of the Uttar Pradesh government''s 1,047-km Ganga Expressway Project in association with DS Construction and the Apollo Group. The consortium has been shortlisted for the two phases and the financial bid is scheduled to open on January 13. The two phases are Greater Noida to Fatehgarh, including the Farrukhabad Link (253 km), involving an investment of Rs 7,631 crore, and Fatehgarh to Dalmau (Rae Bareli), including the Lucknow link (305 km), at an investment of Rs 8,012 crore.

On December 27, BHL informed the Bombay Stock Exchange that its board had approved the company''s participation in the project. The company has also diversified into the production of particle-board and medium-density fibre-board from bagasse, a byproduct of sugar. It has also ventured into value-added products such as ethanol and power. Sugar, the company''s main business, is highly cyclical in nature and the company has posted huge losses in the last few quarters due to a downturn in the sugar sector. The country saw a record sugar production of 28.4 million tonnes last year, which is expected to be higher this year. Consequently, sugar prices have crashed by 30-35 per cent in the last one year and are expected to remain under pressure in the near future.

FII Activity On 07-01-2008

The FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs4,549.40 Crore and the gross debt purchased was Rs730.80 Crore while the gross equity sold stood at Rs4,040.60 Crore and gross debt sold stood at Rs209.80 Crore. Therefore, the net investment of equity reported was Rs508.80 Crore and net debt was Rs521Crore.

FII Activity On 04-01-2008

The FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs6,007.10 Crore and the gross debt purchased was Rs390.90 Crore while the gross equity sold stood at Rs5,281.90 Crore and gross debt sold stood at Rs3 Crore. Therefore, the net investment of equity reported was Rs725.10 Crore and net debt was Rs387.90Crore.

Rcom Inks Deal With Symantec Corporation

Mumbai: Reliance Communications (RCom) has signed a multi-million dollar deal with global IT major Symantec Corporation to refurbish its existing IT systems. The move is aimed at increasing availability and reliability of customer relations management systems, billing, electronic recharges, database back-up and other applications. This will help in unburdening the existing IT set-up apart from increasing the number of pre-paid customers. This is the second association for the two companies after Symantec deployed certain applications for RCom in 2004. Symantec will deploy its Veritas Cluster Server and Veritas Storage Foundation for Oracle RAC solutions for e-recharge applications. Earlier, RCom''s e-recharge application - PhoneGen - was running on a single enterprise-level, which limited its capabilities.

Reliance Power Looks At Investing In Gujarat

Ahmedabad: Reliance Power, a unit of Reliance Energy, is exploring investment opportunities in Gujarat. In spite of missing out the Mundra ultra mega power project (UMPP) bid in Gujarat, Anil Ambani, chairman, Reliance Power, is keen to bid for a possible second UMPP in Gujarat as and when it happens. Reliance Power is developing power generation projects of at least 28,200 Mw across the country. With the first of its 13 projects to go on-stream by 2009-10, the company is entering the capital market with an initial public offering of 260 million equity shares of Rs 10 each in a price band of Rs 405-450 per share. The issue opens on January 15. Reliance Power is also considering overseas operations in Singapore and Middle East.

ICICI Plots Push Into Overseas Mkt

India''s largest publicly listed bank is planning a $3bn (£1.5bn) push into overseas markets both this year and next to cash in on the number of foreign deals being struck by Indian companies. Chanda Kochhar, finance director at ICICI, said the bank expects to increase foreign borrowings by a third this year, from a record $10bn in 2007, to help clients fund overseas takeovers and investments. ICICI expects about 33pc growth in its offshore business this year and next. Indian companies have recently targeted the UK, with the Tata conglomerate buying Corus the former British Steel for £6.7bn last year, and now the front runner in the £1bn battle for Jaguar and Land Rover.

PGCIL Secures Mou Award For ''06-07

New Delhi: Power Grid Corporation of India Ltd (PGCIL) has been selected for the Government''s MoU Excellence Award for the year 2006-07. The MoU Excellence Award benchmarks performance of Central public sector undertakings and is given by the Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises to only one public sector utility in a sector for its extraordinary performance.

ICICI Ventures To Acquire Alved Pharma

NEW DELHI: Private equity (PE) major ICICI Ventures is buying Chennai-based standalone pharmaceutical and veterinary company Alved Pharma and Foods. RFCL, a wholly-owned veterinary, chemicals and medical diagnostic company of ICICI Ventures, is learnt to have inked an definitive pact with Alved Pharma and Foods for a finish buyout. The company is hoped to close this financial year with Rs 18-crore sales revenue. This would be RFCL''s third acquisition in the domestic healthcare market. In July, RFCL had also bought Wipro BioMed, IT major Wipro''s healthcare diagnostic business division.

FII Activity On 03-01-2008

The FIIs on Thursday stood as net seller both in equity as well as in debt. The gross equity purchased was Rs4,083.80 Crore and the gross debt purchased was Rs93.30 Crore while the gross equity sold stood at Rs4,328.30 Crore and gross debt sold stood at Rs182.90 Crore. Therefore, the net investment of equity reported was (Rs244.50) Crore and net debt was (Rs89.60Crore).

UB Likely To Look For JV Partner

Bangalore: United Breweries, the beer arm of UB Group, scouts set to actively seek out a joint venture partner to grow this Rs 1,500 crore business. This move has been needed as its current joint venture partner Scottish & Newcastle (S&N), which holds 37.5 per cent, is likely to be taken over on a global basis. UB Group said, whoever buys Scottish & Newcastle gets grandfathered into agreement with them. Under various clauses in the joint venture agreement, it has a right to takeover the shares back. Once they retain that stake, they will actively look for a joint venture partner. The Carlsberg - Heineken consortium has been given time till January 21, 2008 to either make a firm intention of offer or be away for next six months from bidding for S&N. United Breweries has so far been pretty successful in holding its market leadership in the Indian beer market with 45 per cent share, a position which is being actively asked by SAB Miller which has a share of 38 per cent.

ONGC-Hinduja Likely To Pump In $10bn In Two Iran Gas Fields

New Delhi: ONGC and Hinduja Group likely to infuse $10 billion for developing oil and gas fields in Iran. The development of South Pars gas field Phase-12 and Azadegan oil field will cost $5 billion each. ONGC''s abroad investment arm, ONGC Videsh Ltd, and Ashok Leyland Project Services Ltd a unit of Hinduja Group, plan to ink an MoU with Naftiran Intertrade Co and Petropars Ltd. ONGC was hoping a return of at least 20 per cent on the investment in the fields. Earlier, there were some concerns like the service contractor having to bear any cost escalations happening after the budget for the field development was fixed. On the domestic front, merchant banker SBI Caps is likely to submit a feasibility report on ONGC''s Rs 25,600-crore export-oriented refinery-cum- petrochemical project at Kakinada. The company has asked incentives, including land free of cost from the State Government to make the project viable.

In fact, Hindujas have evinced interest in buying a majority stake in the refinery project. ONGC''s subsidiary Mangalore Refinery is to hold 26 per cent stake in Kakinada Refinery Petrochemicals Ltd, the company set up to implement the refinery project. IL&FS is to hold 51 per cent stake and the balance is expected to with an Andhra Pradesh Government-named agency.

Siemens Unit To Acquire US Co Morgan Construction

Mumbai: Siemens industrial solutions division on Jan 2 declared the take over of the US-based Morgan Construction Co, which produces rolling mill products and services for the metals industry globally. Siemens plans to acquire 100 per cent of Morgan Construction shares. Founded in 1888, Morgan Construction has designed and installed more than 450 rod, bar and billet mills in over 40 countries. Morgan led a consortium of partners, including Morgan India, Stein Heurtey and MECON, to secure the VSP contract. With the acquisition of Morgan Construction, they combine its competence in the sector of rolling mill equipment with our know-how in industrial automation.

Plethico Pharmaceuticals Completes Acquisition of Natrol, Inc

Plethico Pharmaceuticals Ltd on January 02, 2008 has announced that it has completed its acquisition of Natrol, Inc. The acquisition was completed in accordance with the merger agreement announced last month among Plethico, Nutra Acquisition Company, Inc. (MergerSub), a wholly owned subsidiary of Plethico, and Natrol, by means of the merger of Natrol with Merger Sub following a successful tender offer for Natrols common shares.

Shashikant Patel, Chairman & Managing Director of Plethico, commented: We are pleased to announce the successful completion of Plethicos acquisition of Natrol, and we are excited with the opportunity this acquisition represents for Plethico.

Approximately 92% of the outstanding shares of Natrol common stock were tendered and accepted for payment in MergerSubs tender offer, which expired at 5:00 pm, New York City time, on December 27, 2007. MergerSub successfully acquired in the tender offer a number of Natrol shares sufficient to permit MergerSub to effect a short-form merger of MergerSub into Natrol under Delaware law without the vote of or any other action by the remaining Natrol stockho1ders. In the merger, all outstanding shares of Natrol common stock were converted into the right to receive $4.40 net per share in cash, without interest thereon and less any required withholding taxes (the same price as the offer price in MergerSubs tender offer).

FII Activity on 01-01-2008

The FIIs stood as net buyer in equity while net seller in debt. The gross equity purchased was Rs3,041.10 Crore and the gross debt purchased was Rs6.50 Crore while the gross equity sold stood at Rs2,243.30 Crore and gross debt sold stood at Rs18 Crore. Therefore, the net investment of equity reported was Rs797.90 Crore and net debt was (Rs11.50Crore).

Koutons Retail India To Acquire DBG Retail Holdings

The board of Koutons Retail India has decided to acquire the 100% shareholding of DBG Retail Holdings.

This was decided at the board meeting held on 31 December 2007.

FII Activity on 31-12-2007

The FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs3, 255.20 Crore and the gross debt purchased was Rs241.70 Crore while the gross equity sold stood at Rs2, 114.30 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs1, 140.90 Crore and net debt was Rs241.70Crore.