Trikona Capital Group, an asset management firm in the infrastructure and realty sectors, is looking to enter the logistics space. Aashish Kalra, managing partner, Trikona Capital, said the company has already made significant progress in its logistics foray. “We will soon be launching a new entity for our entry into the logistics business,” he said. This new entity will be officially announced in the next six months, Kalra added. In the interim, activities under this business will be under Trikona Logistics, a part of the company’s infrastructure division. Kalra intends to create a logistics model that will have its own infrastructure and will also do third-party logistics (3PL).   more »

Packaging firm Ess Dee Aluminium Ltd said on Wednesday it has acquired a majority stake in ailing India Foils Ltd , a Vedanta Group firm. Ess Dee, which makes packaging products for drugmakers and fast moving consumer goods, said it has invested about 1.2 billion rupees in India Foils for a 85-90 percent stake. "It will be reasonable to expect that whatever Ess Dee's turnover is in 2008/09, you should see (that) more than doubling next year," Ess Dee's director Debdeep Bhattacharya said at a media briefing. For 2008/09, the company would maintain the kind of growth seen in the last quarter, he added. For July-September, Ess Dee's net profit grew 56 percent to 229.3 million rupees, while revenue surged 70 percent to 1.24 billion rupees.   more »