FII Activity On Tuesday - July 9, 2008

The FIIs on Tuesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs1,782.10 Crore and the gross debt purchased was Rs1,432.70 Crore while the gross equity sold stood at Rs2,102.00 Crore and gross debt sold stood at Rs427.30 Crore. Therefore, the net investment of equity reported was (Rs319.90) Crore and net debt was Rs1,005.40 Crore.

FII Activity On 23-06-2008 - June 24, 2008

The FIIs on Monday stood as net seller in equity and debt. The gross equity purchased was Rs2,501.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,454.00 Crore and gross debt sold stood at Rs56.00 Crore. Therefore, the net investment of equity reported was (Rs952.50) Crore and net debt was (Rs56.00) Crore.

TVS Logistics Mops Up Rs 100cr PE Investment From Goldman Sachs

TVS Logistics Services Ltd (TVSL) has mopped up Rs 100 crore via private equity investment from Goldman Sachs to fuel its growth. This is the first time a private equity investment has been made in a TVS Group company. The funding will support the company to pass Rs 1,000-crore turnover by 2010, increase from Rs 338 crore in 2007-08. Goldman Sachs has infused a significant minority stake. The company likely to go in for an IPO, anytime after 18 months from now. The turnover of TVS group had crossed the $5-billion mark in 2007-08.

TVSL recently acquired a 50 per cent stake in the Mumbai-based Greenarches Ltd and renamed it TVS Infrastructure Ltd. This company will develop logistics parks by infusing about Rs 500 core through a special purpose vehicle. It owns about 20 acres in Pune and 10 acres in Chennai and plans to build up a land bank of about 200 acres in automotive hubs such as Gurgaon, Halol, Hosur, Indore, Lucknow, Singur and Uttranchal. TVSL recently formed 75:25 joint venture company, TVS Dynamic Global Freight Services Ltd, along with Dynamic Freight Forwarding Service.

NTPC Waived From Equity Cap Guidelines For Bidding

New Delhi: In a move that could give greater operational flexibility for power major NTPC Ltd, the Centre has freed the State-owned utility from the Rs 1,000-crore investment cap in firming up alliances or setting up subsidiaries to bid for power projects. The Cabinet Committee on Economic Affairs on March 27 gave its approval to waive the ceiling for equity investment by NTPC to set up financial joint ventures and wholly-owned subsidiaries in India or abroad for participating in bidding called by state utilities and distribution licensees. The clearance would facilitate participation of NTPC in bidding for the development of power projects initiated by Government utilities and result in greater competition and establishment of more public sector power projects, the spokesperson said after the CCEA meeting