Natco Pharma to buyback shares
Hyderabad: Natco Pharma is proposing to buy back its shares from the market and will hold a board meeting on July 31 to decide on the issue. The company currently has a paid-up equity of Rs27.17 crore. Following the conversion of the pending foreign currency convertible bonds (FCCBs), its equity would go up to Rs27.9 crore. Though the company is yet to finalise the size of the buyback and price, sources said the size would be below 10 per cent of its paid-up equity.

The scrip is currently hovering at around Rs90 on the bourses with the 52-week high at Rs167.70 and the 52-week low at Rs78.25.
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India Infoline to launch stock trading on cell phones
Mumbai: India Infoline, a retail financial services outfit, has reported its results for Q1, 2006-07. The company's net profit grew to Rs18.95 crore (Rs7.47 crore) in the first quarter of 2006-07. Total income was Rs88 crore, up 211 per cent from Rs28.33 crore earlier.

On a stand-alone basis, net profit rose to Rs11.71 crore (Rs2.62 crore). The company's securities broking business contributed to about 60 per cent of total revenues. India Infoline has announced plans to launch securities trading on the mobile phone platform. The company also plans to venture into the insurance broking business after receiving the approval from the IRDA, said Nirmal Jain, managing director Indiainfoline. Jain said that the prototype for the trading product was ready, and guidelines from the regulator were awaited.
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ING Vysya Mutual launches "Upcoming Businesses" fund
Mumbai: ING Vysya Mutual Fund has launched a new close-ended fund - ING Vysya CUB (Competitive Upcoming Businesses) Fund, that will focus on investment in the competitive upcoming businesses. The close-ended fund will be converted into an open-ended fund after three years.

The NFO opens on July 25 and closes on August 21.

The fund would invest in around 50 stocks with strong upcoming businesses and track record of at least five years, out of which a large portion would be invested in mid-cap and small-cap stocks. The companies with high self-sustainability would fit the criteria.
The emerging sectors with high potential could be retail, branded jewellery, medical tourism, food processing, bio fuels, micro finance, and development of SEZs among others. There is no exit load and units can be redeemed once in every quarter. After the scheme is converted into open ended, systematic investment plan (SIP), systematic withdrawal plan (SWP) and systematic transfer plan (STP) will be applicable and the entry load would be 2.25 per cent for all SIP/STP applications.

The fund will go in for hedging only if the markets go into a deep downslide. CNX Nifty Junior will be the benchmark index for the fund.
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WNS to list on NYSE
New Delhi: The Mumbai-based provider of offshore BPO services WNS (Holdings), is planning to raise over $200 million through an IPO in the US. The shares will be traded on the New York Stock Exchange from Wednesday.

In the first week of July the company had announced that it had filed a registration statement with the Securities and Exchange Commission for the proposed offering of American Depository Shares (ADSs), which will trade under the symbol, WNS. The proposed offering will include a secondary offering of ADSs by selling shareholders named in the registration statement. Each ADS represents the right to receive one ordinary share of WNS (Holdings) Ltd. The ADSs will be evidenced by American Depositary Receipts (ADRs) the company had said.

Deutsche Bank Trust Company Americas is the depositary for the ADSs.

Morgan Stanley & Co International Ltd, Deutsche Bank Securities Inc and Merrill Lynch, Pierce and Fenner & Smith Incorporated are the joint book runners of the offering.

Citigroup Global Markets Inc and UBS Securities LLC are serving as co-managers.

WNS (Holdings) Ltd is the parent company of WNS Global Services Ltd.

According to the regulatory filing, private equity firm Warburg Pincus holds 64.7 per cent stake in WNS and British Airways 14.6 per cent.
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Anil Ambani and co hike stake in RCVL, REVL
Mumbai: Anil Ambani chairman of the Reliance Anil Dhirubhai Ambani group of Enterprises, and persons acting in concert (PAC) have hiked their stake in Reliance Energy Ventures and Reliance Capital Ventures through open market purchases over the last couple of months.

According to an announcement on the NSE, Anil Ambani and PACs acquired 2.2 per cent additional equity stake in Reliance Energy Ventures, bringing their total holding to 43.97 per cent in the company. Their additional acquisition in Reliance Capital Ventures was 2.19 per cent, taking their total holding to 41.8 per cent, according to another announcement on the NSE.
The PACs are Tina A, Ambani, Jaianmol A. Ambani, Jaianshul A. Ambani, Ms Kokila D. Ambani, Anadha Enterprise Private, Bhavan Mercantile Private Ltd, AAA Global Business Management Private Ltd, AAA Enterprises Private Ltd, Sonata Investments Ltd, Hansdhawni Trading Company Private Ltd, Reliance Capital Ltd, and Reliance General Insurance Company Ltd.
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KLG Systel to tap overseas markets to raise $10mn
New Delhi: KLG Systel plans to tap the overseas market for raising $10 million through global depository receipts (GDR).
The company is also in race for a multi million dollar contract for supplying project management software for the Common Wealth 2010 games and is planning to launch a facility management software shortly.

The company has already filed the Luxembourg document for its GDR and has received the shareholder's approval for raising $ 10 million.

"The most important reason for raising money through a GDR was to showcase the company to the international market and not only for raising finances," Kumud Goel, managing director, of the company said.

The money raised for the GDR will be used for research and development and development of new products.
The company registered a net profit of Rs5.20 crore in 2005-06.
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