Corporate
Drillco joins hands with Sweden's Seco
RECOGNISING the need for the latest global technology and huge product access, the Pune-based Drillco, manufacturer of cutting tools, has joined hands with the Swedish company, Seco. This is Seco's first joint venture outside Sweden, Mr. Atul Khanna, Man aging Director, Drillco-Seco, said here.

MARKET DIARY
Novopan Industries Ltd has informed the National Stock Exchange that a shareholders meeting is proposed to be held on February 5, in connection with the approval of scheme of de-merger whereby the Hotel Division of NIL will be demerged and vested with GV K Hotels & Resorts Ltd (GVK). Upon the scheme coming into effect, GVK shall issue to each member of NIL holding eq shares, one eq share of GVK for every three shares held in NIL. The total number of equity shares of GVK to be issued and allotted to membe rs of NIL shall be 43,96,379 equity shares of face value of Rs. 10 each.

Miscellaneous
IBM in pact with SPJIMR for training
IBM India Ltd and S.P. Jain Institute of Management Research (SPJIMR) signed an agreement on Friday on a strategic `e-business solutions training partnership'.

Systems America, Indian arm to merge; plan IDRs
THE $ 20-million Systems America Inc and $ 0.8-million Systems America (India) have decided to merge under one global entity and are actively pursuing a possible issue of Indian Depository Receipts (IDRs) to raise funds to support its massive expansion p rojects in India.

Mutual Funds
`KP Internet fund may not match IT fund'
THE Internet Opportunities Fund being launched on Monday by the Kothari Pioneer Mutual Fund (KPMF) should not be compared with its Infotech Fund launched about 18 months ago, which had logged phenomenal performance, according to Mr. R. Sukumar, Vice- Pre sident (Investments) and Fund Manager of KPMF.

Stocks
Munoth plans Net trading in stocks for NRIs
MUNOTH Financial Services Ltd, a Chennai-based capital market intermediary, is all set to launch Internet trading of Indian stocks for the benefit of Non-resident Indians.

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