July 2007
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Alcan to Sell 45% Stake in India's Utkal to Hindalco

Alcan Inc., the world's third-largest aluminum company, agreed to sell its 45 percent stake in India's Utkal Alumina International Ltd. to its partner in the venture, Hindalco Industries Ltd. The sale probably will be completed during the third quarter, and the financial terms weren't disclosed, Montreal- based Alcan said today in a statement. Hindalco already owns the remaining 55 percent of Utkal Alumina. The venture was established in 1992 to develop a bauxite mine and alumina refinery with potential capacity of as much as 3 million tons a year in the Indian state of Orissa. Bauxite ore is refined into alumina, which is smelted into aluminum. Alcan said in April, when it announced plans to sell its stake, that it didn't have enough influence in the venture. […]

July 19th, 2007

BCCL picks up stake in Pampered Home

BCCL has acquired a stake in Pampered Home, a Mumbai-based company which specialises in the design, manufacture and retail of designer name plates under the brand 'Identiti.' Founded in 2003 by Seema and Rattan Joneja to fulfill the need of homemakers, it commenced smart retailing, (i.e. small format stores in high footfall areas targeting a large catchments.) in October 2004 at Inorbit Mall and Nirmal Lifestyle in Mumbai. Each of the name plates designed & manufactured by Identiti are personalised to suit a customer's specific needs. […]

July 19th, 2007

Kotak Realty raises Rs 1.6k cr from investors

Kotak Realty Fund on Wednesday said it had raised Rs 1,600 crore from domestic investors to invest in diverse real estate asset classes across the country over a period of three years.

Stating that the average investment would be in the range of $20-25 million, KRF's CEO S Sriniwasan told reporters here that the average holding would be of 3-5 years.

“We will invest both at a project level as well as in the […]

July 19th, 2007

seven bidders interested in buying a stake in Delhi Stock Exchange (DSE)

Media house TV18, Financial Technologies India Ltd and Liberty Shoes are among the seven bidders interested in buying a stake in Delhi Stock Exchange (DSE) as the defunct bourse gets ready to restart operations. “So far we have received seven bids, including Financial Technologies, for 51 per cent brokers' stake.” BB Sahny, DSE director and chairman of the demutualisation committee, said. Two foreign entities Kuwait-based Noor Investments Ltd and US-based Horizon Assets Management Company, domestic footwear manufacturer Liberty Shoes and a group company of TV18 have also bid for picking up stake in the bourse. […]

July 19th, 2007