HCL, TCS bag IT award
New Delhi: Shiv Nadar's HCL group has bagged the Cyber Media award for the top IT company of the year. TCS got the Indian IT giant award for emerging as Asia's largest player in this segment. TCS also bagged the Top Software Exporter award and the Top IT Vendor award.
In the telecom arena, Bharti bagged the best cellular service provider award while VSNL was presented the award for the best ISP. Some other prominent award winners were Compaq for the best PC vendor and Wipro for the best Telecom software vendor.
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Skoda launches 'Octavia'
New Delhi: Volkswagen group company Skoda Auto on Friday launched a four-cylinder luxury car 'Octavia' priced at Rs 10.6 lakh (ex-showroom, Delhi). The company aims to sell about 6,000 units in the first 12 months.

'Skoda Octavia' would be imported in India as semi knocked down kits, which would be assembled at the companys Aurangabad plant.
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AT&T to cut over 3,000-4,000 more jobs
Chicago: Telecom giant AT&T is likely cut over 3,000 to 4,000 more jobs over the next few months in addition to the 9,000 it has already cut.

AT&T's work force would be reduced by more than 12 percent from the 125,000 employees it had at the beginning of 2001.

The Wall Street Journal on Friday reported on Friday that AT&T was expected to cut up to 10,000 more jobs over the next few months.
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LG shelves IPO
Bangalore: LG Electronics India has shelved its initial public offer plans. The company was planning to divest 25 per cent of its equity holding to the public by the end of the current calendar.

However, the company will go ahead with its investment and expansion plans as scheduled earlier.
LG Electonics will pump in Rs 500 crore in the market during 2001-05 to enhance its existing capacities to manufacture compressors, fly-back transformers, motors and deflection yokes.
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TTK to enter consumer services
Bangalore: The TTK group, which has been dealing in pressure cookers, kitchen appliances and healthcare, is diversifying into the services sector. It has floated a new company called TTK Services Pvt Ltd.

The company plans to leverage the strength of the TTK brand and provide fee-based services for NRIs like medical care of elderly parents, collection of rent from homes in India, planning travel itineraries and gifting.

These services are Web-enabled through ttknriservices.com and will be later extended to residents of India as well. TTK Services' operations have been set up in 17 cities with a workforce of 120 people.
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Tata Internet to offer services in 32 cities
New Delhi: Tata Internet Services on Friday said it would offer value-added services in 32 cities including disaster recovery, hosting and co-location.
TISL will also offer IP-based virtual private network, dedicated internet access and ISDN connections to its corporate clients in these cities, a company release said.

"Our objective is to offer corporates world-class infrastucture solutions and support", CEO, TISL, N Srinath said.
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Hudco to provide consultancy services
New Delhi: The Housing and Urban Development Corporation (Hudco) will provide consultancy services covering appropriate and alternative building material technologies to individual borrowers. The services will be launched initially through building centres in the state capitals.

The services will also be available at corporations website, which was launched by union urban development minister Ananth Kumar on Friday.
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Bilt to lay off 3,000 workers
New Delhi: Ballarpur Industries (Bilt) will soon launch a VRS to shed up to 3,000 workers over the next three-five years.

Bilt management is holding negotiations with the unions to finalise the VRS package.
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Videocon to exit Samsung JV
Kolkata: The Videocon group has offered to sell its 26 per cent stake in Reasonable Electronic Solutions, a joint venture between Samsung and Videocon, to the Korean company.

The Videocon promoters are asking for Rs 350 crore for their 26 per cent for which Samsung is willing to pay Rs 250 crore.
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HM plans large sedan
New Delhi: Hindustan Motors is considering manufacturing a large sedan at its Madras plant to improve efficiency and profitability. The company has already decided to import fully assembled Pajeros in January-March next year, and start assembling the vehicle at its plant outside Chennai next September or October.

HM currently assembles the Mitsubishi Lancer at the Madras plant, which was built with the assistance of Mitsubishi Motors, the fourth-largest Japanese automaker.

But the Madras plant turns out only 7,000 to 8,000 cars a year because it makes only the Lancer, which is positioned at the upper-end of Indias 80,000-a-year mid-sized car segment.
HM expects to sell only 20 to 30 Pajeros a month.
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A-I to resume Delhi-London flight
New Delhi: Air-India has decided to resume its Delhi-London flight from December 7, 2001.
In addition, the airline will add one new flight on the Delhi-New York and Delhi-Chicago sectors beginning December.

With this, A-I will now have a weekly schedule of seven flights to New York and three to Chicago (all via London).
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Mohan Meakin, MBAP alliance on hold
Mumbai: The strategic alliance between Mohan Meakin Ltd (MML) and Millennium Breweries and Allied Products (MBAP) has been put on hold due to differences among the partners.Earlier, Mohan Meakin Ltd had decided to outsource marketing muscle from Millennium AlcoBev. The joint venture was formed to sell and distribute MMLs entire range of brands globally, including Indias largest selling rum, Old Monk, Black Knight Whisky, Solan No 1 Malt Whisky, Colonel Special Whisky, Big Ben London Dry Gin and Golden Eagle Beer.
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Amul to start fast-food chain
New Delhi: Amul plans to open a chain of fast-food outlets using its recent foray into pizza market as the platform.

The cooperative major is considering initiatives including marketing its own branded sugar or setting up a network of vending machines for the beverages.

With deep-freezing facilities in place, the cooperative should be able to prepare and market its own foodstuffs and a nationwide chain of outlets was likely to be in place by 2004.
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