FALCON PROMOTERS MOVE TO UP STAKE

Article Abstract:

The board of directors of Falcon Tyres (FT), a tyre producer, plans to offer shares to its promoters either on a preferential basis or on a rights basis. FT will either float a 1:2 rights issue, priced Rs16 per share, or offer 1,563,125 shares on a preferential basis to Jumbo International Holdings Ltd, its promoter. The promoter will be holding a 71.31 percent stake in FT after the preferential issue (57 percent now). The public holds 43 percent stake. FT will be seeking its shareholders' approval for the issue of shares to the promoters during its annual general meeting on September 8, 1998. (ag)

Comment:

Will be holding 71.31% stake in Falcon Tyres from 57% after issue of shares either on preferential basis or on rights basis

Tires, Tire Manufacturing (except Retreading), Falcon Tyres, Jumbo International Holdings Ltd.

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WELCOME MOVE

Article Abstract:

The Foreign Investment Promotion Board has permitted Alcan Aluminium (AA) of Canada to increase its stake in Indal to 54 percent from 35 percent. This is a victory for AA over Sterlite, which had come out with an open offer to acquire a 20 percent stake in Indal. As it already has a 35 stake in Indal, it will be easier for AA to convince financial institutions and shareholders to support it rather than Sterlite. Sterlite may now increase its offer price for Indal's shares. This augurs well for Indal shareholders as its scrip price will also increase in value and come up to levels of the offer price. (khr)

Comment:

Foreign Investment Promotion Board permits firm to increase its stake in Indal to 54% from 35%

Aluminum, Primary Aluminum Production, Aluminum industry, Aluminum products, Alcan Aluminium Ltd., Indal Aluminium Ltd.

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SINGAPORE Co TO MOVE PART OF R&D ACTIVITY TO HYDERABAD

Article Abstract:

As part of its strategic move, Fast Forward Technologies (FFT) of Singapore will be shifting the research and development wing to its subsidiary at Hyderabad in a phased manner. Fast Forward Systems (India) Pvt Ltd (FFS) of Hyderabad, a part of FFT, has begun its operations recently. FFS will be involved in software development, technical consultancy, e-business, products and tool development and enhancement and training. FFS's e-business has a market worth of $200 billion. (gs)

Comment:

Will shift research & dvelopment wing to subsidiary at Hyderabad, India, in phased manner

Computer Systems Design and Related Services, Contract Software & Services, Software support services, Fast Forward Systems (India) Private Ltd., Fast Forward Technologies

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