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GMR, Aristrocrat, IndiaBulls

May 6, 2007

GMR Industries said that the High Court of Andhra Pradesh had sanctioned the scheme of arrangement of Bharat Sugar Mills and GMR Ferro Alloys & Industries with the company.
As per the scheme, the company will demerge its ferro alloys undertaking to GMR Ferro Alloys & Industries and amalgamate Bharat Sugar Mills with itself.

Aristocrat Luggage said its board would meet on 14 May 2007, to consider the proposal of amalgamating the company with VIP Industries.

It has been reliably learnt from Insiders that IndiaBulls Financial Services is exiting out of Retail Stock Broking to focus on High Networth Individuals and Portfolio Management Schemes. At the same time, IndiaBulls is venturing into Personal and Auto Loans.

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