Aptech defers demerger of its software business
Mumbai: Aptech at its board meeting on Tuesday deferred the decision on merging its software business with an unlisted firm controlled by Mr. Atul Nishar, Aptech chairman. The company said in a statement released late evening that it had decided against taking a decision on the merger with Hexaware Technologies because of concerns raised by "various constitutents of the company", including several investors.

A committee of Aptech’s directors has been formed to suggest a way to restructure its business and a report would be submitted in four weeks. The committee would consider merger of Hexaware with Aptech and operating the two business of software and training as independent business units, or merging Hexaware and Aptech so as to form two independent listed companies for training and software or any other option.
Back to News Review index page 

Intel unveils first single-chip ethernet node
New Delhi: Intel has unveiled the world’s first single chip Gigabit Ethernet controller, an advanced semiconductor device that helps direct flow of data across networks. The new single-chip controller will help accelerate the deployment of Gigabit Ethernet networks by greatly simplifying design for system engineers.

Gigabit Ethernet networks will allow the transmission of a billion individual bits of information per second. The Intel Gigabit Ethernet Controller is the size of a quarter and is 50 per cent smaller than the previous generation of controllers. In addition, the new device uses 50 per cent less power, generates less heat and can help improve the reliability of systems.

These features make it easier and less expensive for OEMs to build Gigabit Ethernet network connections directly into servers, workstations or networking devices using a type of connection called LAN-on motherboard.
Back to News Review index page 

BSNL abolishes duration charges for I-Net
New Delhi: Bharat Sanchar Nigam Ltd. (BSNL) has announced the revision of tariffs for its terrestrial public data network, I-Net, abolishing the duration charges and offering access to nearest node on local call charges, with effect from March 1. Under the revised tariffs, the newly formed corporation had also made access to Internet through I-Net, free of volume charges, on the basis that subscriber was already paying internet access charges.

BSNL has combined the installation charges and security deposit for the modem to be paid as initial deposit as per existing rates, thereby giving access to the nearest I-Net node at a pulse rate of 180 seconds, at local call charges instead of present STD pulse rate. The move, a part of the corporation's marketing strategy, is aimed at encouraging subscribers to transact large amount of data and increasing the subscriber base.
Back to News Review index page 

MTNL gets 6000 applicants for cellphones
Mumbai: Mahanagar Telephone Nigam Ltd. (MTNL) has received 6000 applications from Mumbai for its proposed cellular phone service. The service would become operational from today. MTNL, is the first state-run firm to enter into mobile telephony.

MTNL has just launched its cellular services in Delhi in the first week of February. The pre-launch response in Delhi was higher at 10,000 applicants. MTNL's tariff structure at Rs 2.70 a minute for outgoing calls and Rs 1.50 a minute for incoming calls forced the two existing cellular operators in Mumbai to bring down their rates. BPL Mobile and Hutchison Max Telecom last week cut their rates to Rs 2.80 per minute for outgoing calls and to Rs 1.60 a minute for incoming calls, from a uniform Rs 4.
Back to News Review index page 

Tata Internet ties up with BP for public Net cafes
Mumbai: Tata Internet Services Ltd. (TISL), in alliance with Bharat Petroleum has planned to set up Internet cafes at petrol pumps, owned by the latter, all over the country. The TISL will set up 40 cyber cafes in prominent metros across 12 cities in the country of which about 15 public Internet centres are already one functional in Mumbai, Delhi and Chennai. The company's public Internet cafes will branded as 'Tata Nova Netzones'.

TISL had earlier roped in Indian Oil Corporation (IOC) to set up similar cafes in Mumbai, two of these are operational in Delhi. TISL sources now say the collaboration with IOC was on an experimental basis and has been put on the backburner, with BP stepping into the picture.
Back to News Review index page 

Tatas mull taking VSNL stake
Mumbai: The Tata group is reportedly considering the possibility of joining the race for picking up 25 per cent stake in Videsh Sanchar Nigam Ltd. (VSNL). Mr. Kishore Chaukar, managing director of Tata Industries has reportedly said that the group is presently expanding its mobile telephony business in a big way and is in the process of framing investment strategies.

The board of Tata Industries is however, yet to formally approve any such proposal. Tata Industries has not decided whether to partner the Birla-Tata-AT&T combine in the bidding. Tata Industries is the holding arm for the group’s technology companies. If the Tatas finally bid for VSNL, it would flag–off the group’s possible entry into the international long-distance telephony segment.

While domestic conglomerates like the Tatas and Reliance have evinced interest in taking a stake in VSNL, indications are that most of the global players may keep way from the disinvestment process due to dismal market conditions in the US and Europe.
Back to News Review index page 

Reebok move to hike stake in Indian arm opposed
New Delhi: The department of company affairs (DCA) has raised objection to the Foreign Investment Promotion Board (FIPB) clearing a proposal of Reebok International Ltd. to increase its holding in Reebok India to 95 per cent. Phoenix Overseas Ltd. domestic stake holder in JV had opposed the FIPB resolution clearing the equity-holding expansion saying that Reebok move did not have the approval of its representatives.

The domestic shareholders presently own around 7 per cent equity stake and are not in favour of a further equity hike by US partner.

Reebok had increased its stake in Reebok India in 1997 to 93 per cent citing cash crunch in the joint venture. It had however, agreed to bringing down its equity holding back to 80 per cent by 2000. In mid-2000, Reebok approached the FIPB to increase the holding to 100 per cent, but was denied permission since Phoenix objected. Reebok subsequently revised the proposal and urged the government to extend the previous FC approval for 95 per cent FDI.
Back to News Review index page 

MUL seeks Rs 100 crore through sale of accessories
New Delhi: Maruti Udyog Ltd. (MUL) is targeting a turnover of over Rs 100 crore through sales of its recently launched range of accessories under the brand name -- Maruti Genuine Accessories (MGA). The company has already introduced over 100 accessories, including car stereos, rear spoilers, fog lamps, air-conditioners and mattresses.

Mr. Jagdish Khattar, managing director, MUL, has said that company has already started generating revenues worth Rs 1 crore each month through sales of accessories. This is further projected to go up to Rs 30 crore in 2002 and further to Rs 100 crore in the following year. The sale of genuine parts brings around Rs 400 crore worth of revenues each year for MUL. The company is hoping that the genuine accessories range will generate similar popularity. MUL has tied up with accessories manufacturers such as Kenwood, in the case of car stereos, and is selling the products at its dealerships under the MGA brand name.
Back to News Review index page 

Computer Associates to place core orders to Indian JV
Kolkata: THE $7-billion Computer Associates International Inc, the world’s largest business software company, will soon farm out core product development contracts to Computer Associates-TCG Software Ltd., its 51:49 Indian JV with Purnendu Chatterjee’s Group.

Confirming the strategic move, Mr. Rajeev Goswami CATS’ chief executive officer has said that company will undertake Level-2 maintenance of a slew of upcoming CA products, primarily in the storage management and scheduling space. The project specifics are to be formalised at a high-level meeting at CA’s New York headquarters scheduled next month.
Back to News Review index page