Govt sells 51% stake in CMC to Tata Sons
New Delhi: The government said on Friday it had sold a 51 per cent stake in state-run computer software and maintenance firm CMC to Tata Sons for Rs 152 crore.
The government also sold a 74 per cent stake in another state-run firm, Hindustan Teleprinters, to Himachal Futuristic Communications for Rs 55 crore, an official statement said.
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Govt rules out UTIs privatization
New Delhi: Union finance minister Yashwant Sinha on Friday ruled out privatisation of Unit Trust of India. He said the government would fully support the country's largest mutual fund.

" UTI is now in very competent hands," he said referring to change of guard after the controversial exit of P S Subramanyam as chief of the trust.
Sinha said the Government would fully stand behind UTI in case there was any pressure or need.
Back to News Review index page   Hyundai launches Tornado
New Delhi: Hyundai on Friday launched a sports variant of its popular Accent model called Tornado. Tornado has a 1600cc engine and will be priced at about Rs 7.3 lakh in Delhi. This will make it more expensive than the two existing models of the Accent.
Hyundai is aiming to sell 1,500 units of Tornado during the current fiscal. So far the company has sold about 31,000 units of the Accent model.
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Hughes Tele posts net loss in Q2
Mumbai: Hughes Tele.Com (India) reported a net loss of Rs 82.69 crore for the second quarter ended September 30, 2001, compared to Rs 29.61 crore in same period of previous fiscal year.
Income from operations increased 88 per cent at Rs 61.51 crore in Q2 against Rs 32.64 crore in corresponding period of the last year, the company said in a release here on Friday.
The company earned an operating profit (excluding other income) of Rs 3.81 crore (Rs 7.68 crore operating loss) in the first six months of this fiscal year.
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Johnnie Walker to enter Indian markets
Bangalore: The world's leading scotch, Johnnie Walker, will be available in all the Indian metros in the open market by December.
The brand will also be taken to the open markets in Goa and Pondicherry, India's major tourist destinations.
A 750 ml bottle of Johnnie Walker Black Label will cost Rs 3,500 and Red Label Rs 1,750 in the open market.
Apart from Johnnie Walker, Guinness-UDV markets in India Bailey's Irish Cream, J&B, Gordon's gin, VAT69, Smirnoff, Malibu, Gilbey's gin, Gilbey's Old Gold, Gilbey's Green Label, Gilbey's White and Christian Brothers rum and brandy.
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Motorola bags GSM contract from Bharti
New Delhi: Bharti Enterprises has chosen Motorola to install a GSM mobile network in Mumbai and Gujarat. The three-year contract, valued at $70 million, would also include general packet radio services to offer high-speed mobile data services, a release said on Friday.
The first phase of the contract was scheduled to be completed in early 2002 and would have a capacity of 1 million mobile users and after completion of all phases, the GSM network would support 2 million subscribers, it said.
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Birla-AT&T sign cellular licence for Delhi
New Delhi: The Birla-AT&T combine on Friday signed a licence agreement with the Department of Telecommunications to provide cellular services in Delhi.
Birla-AT&T had won the licence in the recent bidding for the fourth cellular slot. The existing three cellular service providers are Bharti's AirTel, Essar and Dolphin from the Mahanagar Telephone Nigam.
The company had bagged the licence for Rs 170.70 crore in the three-stage bidding process ended July 31 this year in which the government got about Rs 1,633.57 crore for alloting the fourth cellular slot in 17 circles.
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MUL launches two 'Zen' variants
New Delhi: Maruti Udyog has launched two limited edition deluxe variants of its highest-selling premium small car 'Zen'.
The new variants called 'Zen Deluxe VX' and 'Zen Deluxe VXI' have been priced at about Rs 8,500 more than the current 'VX' and 'VXI' models which cost Rs 3.78 lakh and Rs 3.99 lakh (ex-showroom Delhi) respectively.
In addition to regular features, the new variants would come fitted with suede leather finish fabric upholstery, suede leather finish fabric inserts in door trims and wood grain finish center.
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DU Pont expands crop protection business
New Delhi: DU Pont said on Friday its crop protection products business in India was expected to touch Rs 100 crore this year. While formally launching a fungicide, Curzate m8, for the Indian market, claimed to be ideally suited for grape, tomato and potato crops, DU Pont said, crop protection products business with established brands like lannate, benlate, kloben, algrip, almix and avaunt was expected to cross Rs 100 crore this year.
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Dabur enters new sectors
New Delhi: Dabur India said on Friday it had entered the backache and antiseptic skincare product segments to increase market share.
Dabur, which has turned some of ancient herbal remedies into billion-rupee consumer brands, launched a gel-based pain relieving ointment "Back-aid" and an antiseptic moisturising cream "Boro Glow" to tap the new segments.
The backache remedies market, estimated at Rs 140 crore, is growing at 13 per cent annually. The antiseptic cream segment which is around Rs 230 crore, is expanding at 7.0 per cent each year.
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Wipro Infotech launches Australian operations
New Delhi: Wipro Infotech on Friday announced the launch of its operations in Australia to address the Australian and New Zealand markets.
Wipro will address the Australian market through its business developement managers based in Sydney and Melbourne. The company would offer infrastructure management, integration, software services, including information risk managment and enterprise management.
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Infosys opens office in Singapore
Bangalore: Infosys Technologies on Friday opened an office in Singapore, which it said was a key market in the Asia-Pacific region.
Infosys said the cross-border experience it had acquired by working with global clients would help clients in Singapore accelerate their information technology initiatives.
Research by Gartner, the company said in a statement, has forecast Singapore's IT market to grow from $7.5 billion currently to $11.7 billion within three years.
Infosys, with software export revenues of Rs 1,850 crore in the previous fiscal year to March 2001, has three offices in the Asia-Pacific region --- Tokyo, Sydney and Melbourne.
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Satyam launches mobile products
Hyderabad: Satyam Computer Services Limited on Friday launched e-Valuate, a mobile insurance and loan recovery solution, using the Microsoft Windows powered Pocket PC 2002.

Satyams critical solution enables to secure reliable and robust wireless connectivity between the mobile workforce and enterprise systems, the company said.

By implementing e-Valuate, financial institutions can eliminate inefficiencies, decrease the risk of fraud, save on costs, while ensuring the highest quality of service leading to customer satisfaction, claims the company.

The company also launched two other new applications - Mobile Insurance, an open standards based claims management solution fully integrated with the Pocket PC platform and Loan Recovery Solution, a solution for financial institutions enable them to recover loans online from their customers and collection agencies.
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Mango enters Indian market
Mumbai: Popular Spanish womens apparel label, Mango, entered the Indian market with the formal launch of its flagship store at Crossroads in Mumbai on Friday. It already has over 520 stores in 50 countries throughout Europe, Asia, Africa and South America.
All the Mango stores across the country will have a uniform look in terms of lights, decor, windows, walls and floor tiles.
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Hyundai to enter auto insurance
New Delhi: Hyundai Motor India said on Friday it is firming up plans to foray into the insurance market this fiscal.
The company would soon initiate talks with various insurance companies to sell their products.
Hyundai India already has a presence in the services sector through Hyundai Advantage, its used car business and Hyundai Finance, which gives various credit facilities for car buyers.
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Modi likely to sell tyre business to Continental
Mumbai: Modi Rubber is reported to have decided to sell its tyre manufacturing business to Continental of Germany. The deal could fetch Modis well over Rs 250 crore.
For Continental, paying Rs 250 crore for an onstream plant would make much more sense than setting up a greenfield project.
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Hyundai plans to roll out Elantra
New Delhi: Hyundai Motor India is planning to launch the Elantra along with top-of-the-line Santa Fe and the more reasonably priced new Kia Sportage.

Packed with a 2 litre, 140 HP DOHC engine, the Elantra, would offer Accent upgrade hopefuls something within the Hyundai family.
Elantra is available in two variants in the north American market. The GLS standard variant comes with air conditioning, dual front and side airbags, power windows, mirrors and door locks.
The GT version comes with additional features like front fog lights, four wheel power disc brakes, leather seating and leather-wrapped steering wheel.
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Lacoste ties up with Barista
Mumbai: The French apparel major Lacostes Indian licensee Lacoste India has entered into a co-marketing alliance with Barista Coffee Company.
Under the agreement, Lacoste will market all its apparel products and accessories through Baristas retail outlets.
In addition to its 47 boutiques spread across the country, Lacoste has corners at international airports, golf clubs and the Taj Group of hotels.
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Apollo eyes Saarc, Middle East
New Delhi: Apollo Health and Lifestyle is planning to set up a chain of 15-20 clinics in neighbouring Saarc countries and Middle East.
The company is planning to set up over 250 clinics across the country over a period of three years out of which 30 clinics would come in north by March next year.
Apollo is also working on a plan to set up a network of psychiatry, geriatrics, maternity and diabetes clinics apart from these primary healthcare clinics.The primary healthcare clinics to be set up at an investment of about Rs 2 crore will have a consultation room, diagnostic lab, 24 hour pharmacy and telemedicine facility.
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Shaw Wallace plans Rs 25-cr investment in WB
Kolkata: Shaw Wallace & Company (SWC) proposes to set up a greenfield beer project in West Bengal entailing an investment of about Rs 25 crore. Three more greenfield beer manufacturing units would be set up in the different regions of the country, each unit requiring an investment of about Rs 25 crore. In other words, a total of about Rs 100 crore would be invested to set up the four beer manufacturing units.
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BSNL to go mobile in Dec
Kolkata: ITI Ltd is holding talks with four to five companies for technology to make handsets compatible with wireless in local loop (WLL) systems. ITI is in talks with LG and Hyundai for transfer of the cheapest technology.
Bharat Sanchar Nigam (BSNL) Ltd has asked ITI to submit a proposal for manufacturing WLL handsets at its Bangalore plant at prices lower than the existing rates.

The chip used in the WLL handsets is the costliest component. ITI has applied to the government for permission to import the proprietary Qualcomm chips.
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