Shaw Wallace Distilleries to prune portfolio
Mumbai: Shaw Wallace Distilleries Ltd is planning to prune its product portfolio to 20 from the present 70.

The company is keen on phasing out the brands which do not contribute sufficient volumes and revenues. The liquor brands that will be withdrawn will be largely regional brands.

The core national brands in the whisky segment like Antiquity, Royal Challenge, Director's Special Black, Director's Special, Moghul Monarch, Old Tavern will be retained.

Other national brands like John Exshaw brandy, VSOP Exshaw brandy, Golconda brandy, Golconda Ruby Wine and White Mischief Vodka too will remain.
These national brands account for 80 per cent of the turnover. Shaw Wallace will strentghen these brands by extending greater marketing support.
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Liberty Mills promoters plan open offer
Mumbai: The promoters of Liberty Oil Mills are making a voluntary offer to acquire 13.24 lakh equity shares of Rs 10 each representing 27.15 per cent of the issued and paid-up share capital from the remaining shareholders at a price of Rs 30 per share in cash.

The company's shares are listed on the Mumbai, Ahmedabad and Chennai bourses. The voluntary offer to buy shares will open on 15 April and will close on 14 May.  
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Cap Gemini E&Y may acquire mid-size IT cos New Delhi: Cap Gemini Ernst & Young is planning to acquire second rung Indian software service companies this year.

So far, Cap Gemini Ernst & Young had been restricting alliances only to specific projects.

Cap Gemini Ernst & Young was formed in May 2000, when the Paris-based consultancy Cap Gemini merged with Ernst & Young Consulting, the consulting division of Ernst & Young.

The consulting major plans to set up a new facility in India before December.

Cap Gemini E&Y operates in three areas: strategy, business solutions and outsourcing.
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KPMG to advise SAB on acquisition
Mumbai: KPMG has been retained by Sri Adhikari Brothers Television Network to advise it on the acquisition of the brand and distribution business of its 100 per cent subsidiary SABe TV.

SAB Network will now uplink its channel from the Essel-Shyam Telecom facility in Noida, from where Zee Network channels are uplinked. At present, the company is uplinking from Singapore.

Owing to the change in its product mix, the company hopes to break even in the current quarter.

It has increased in-house programming content, which is slated to reach around 75 per cent from the earlier level of 25 per cent.  
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Bharti Tele to be listed on BSE
New Delhi: The shares of Bharti Tele-Ventures (BTVL) are scheduled to be listed at the Bombay Stock Exchange (BSE) on 18 February.

This would be the first time that the listing of shares on the country's premier exchange will be accompanied by the ringing of a bell, a tradition followed at the NYSE.

The shares will also be listed simultaneously on the National Stock Exchange (NSE) and the Delhi Stock Exchange (DSE).  
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Price bids for Jessop opened
New Delhi: The price bids of the two bidders, Titagarh Industries Ltd and Ruia Coatex, for acquiring 72 per cent of the government's stake in the state-owned Jessop & Company Ltd were opened by the government on 16 February.

The ministry of disinvestment will now be approaching the Board for Industrial and Financial Restructuring (BIFR) to seek its approval in the sell-off of Jessop. The company had been referred to BIFR when it turned sick.  
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Liberty Investments' open offer
Mumbai: Liberty Investments Pvt Ltd's (LIPL), along with Parvez Hamza Kader, have offered to acquire 13,24,600 equity shares of Rs 10 each representing 27.15 per cent of the share capital of Liberty Oil Mills Ltd (LOML) from the remaining sharereholders at a price of Rs 30 per share.

LIPL and Mr Kader collectively hold 7,62,750 equity shares representing 15.64 per cent of the stake of LOML. They are also a part of the promoter group of LOML. Along with other persons in the promoter group the acquirers hold 35,53,400 shares forming 72.85 per cent of LOML's stake.

The offer will open on 15 April and close on 14 May.  
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HC admits Motorola plea against BPL Mobile Cellular
Chennai: The Madras High Court has admitted the petition filed by Motorola India Ltd for winding up of the Coimbatore-based cellular operator, BPL Mobile Cellular Ltd.

The court has directed BPL Mobile Cellular to deposit an amount, as first payment of the sums due, in the court within two months, and the balance in 10 equal bi-monthly instalments.

According to Motorola, BPL Mobile Cellular had entered into an agreement with it for supply of service and equipment. Motorola had done so between 1998 and March 2001. BPL Mobile as on 14 December1998 owed Rs 432 lakh to Motorola. When it was asked to clear the dues, BPL Mobile Cellular raised frivolous and counter-claims/disputes.

Motorola said having suffered huge losses, BPL Mobile cellular was unable to pay its debts. It contended that the respondent was likely to dispose of its assets in the guise of merger and restructuring to avoid discharge of liabilities.  
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ICICI Bank offers Internet trading
Coimbatore: ICICI Bank has started offering Internet trading from 1 February by integrating an investor's savings, demat and broking accounts.

This three-in-one account allows various alternatives such as cash, margin and on-the-spot options while trading in shares.

The account for online trading could be opened for a one time non-refundable fee of Rs 750. The brokerage ranged from 0.1 per cent to 0.15 per cent for margin trades, 0.2 to 0.425 per cent for squared-off trades and between 0.4 and 0.85 per cent on delivery-based trades.  
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BoI hikes rates on some deposits
Mumbai: Bank of India has raised interest rates on certain categories of domestic term deposits by 25-75 basis points effective from 18 February.

For deposits less than Rs 15 lakh but for maturities of 46 to 90 days and 91 to 179 days, the rates have been revised to 6.75 per cent (6.00 per cent).

For deposits above Rs 15 lakh and but less than Rs 1 crore and for maturities of 46 to 90 days and 91 to 179 days the rate is now 6.75 per cent (6.50 per cent).

The revised interest rates will be applicable only on fresh deposits and on renewal of maturing deposits.  
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Gesco board to consider SCI 
New Delhi: Great Eastern Shipping Company (Gesco) is gearing up to make a firm bid for acquiring strategic control of Shipping Corporation of India (SCI). The management of Gesco will submit a proposal to this effect to its board for consideration.