Kalyani Refineries

Kalyani Refineries Ltd (KRL) has diversified into software by taking over Kalsoft, an existing profit-making software development company, with a stock-swap option, a company statement said. As a software division of KRL, Kalsoft is presently developing web-enabled data-base applications, Internet and intranet technology, it added. Kalsoft has also made a `significant stride' in signing a memorandum of understanding with a Canadian networking company for taking up offshore software development projects, it added.