TTK-LIG buys out NPIL stake in Scholl Piramal
Bangalore: TTK-LIG Limited has acquired the entire 49 per cent stake held by Nicholas Piramal in Scholl Piramal India Ltd. According to TTK-LIG managing director J Srinivasan, the stake has been bought for a sum of around Rs 1.96 crore in an all cash deal.

The new joint venture with the UK-based company, SSL International Plc has been renamed SSL-TTK. The company will bring consumer healthcare products of international quality and affordable prices including Dr Scholls foot-care products initially and other OTC Set on healthcare products later. The products would be sold only in major cities, mainly through medical stores.

SSL internationally owns various popular brands like Resolve (hangover remedy), Meltus (cough and cold remedy), Remegel (an antacid) and Full Marks (head lice treatment).
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Microsoft sets up Rs 20 crore centre in Bangalore
Bangalore: Microsoft has set up a Rs 20 crore .Net Technology Centre in Bangalore. The centre would help Indian developers, independent vendors, and systems integrators to take advantage of XML and .Net. XML is a key enabling technology in the delivery of Microsofts .Net vision.

The centre, spread over 9000 sq ft, will have Unisys and EMC as the infrastructure partners while the super computing education and research centre in Indian Institute of Science will help in imparting training and education. Microsoft will provide design and architectural support as well as help in testing applications for scalability, security and reliability at the centre.
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RITV plans to uplink from Gandhinagar
Mumbai: Reminiscent India Television Ltd (RITV), which owns the Gurjari TV channel, is planning to uplink its Gujarati language channel from Gandhinagar. It plans to launch news and rural development programming.

The company is negotiating with Modern Communication and Broadcast Systems to set up an uplinking infrastructure in Gandhinagar. Gurjari channel currently uses Thaicom facilities to uplink its two regional channels, Gurjari and Lashkara (Punjabi channel).
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Adlabs Films to produce Hindi films
Mumbai: Adlabs Films Limited, the company that has set-up the IMAX dome theatre in Mumbai, is planning to enter the business of Hindi film production by the middle of next year.

Adlabs biggest project to date has been the IMAX Dome Theatre in Mumbai.

The company is also coming up with a multiplex in western Mumbai in association with Vasanji Mamania, co founder of Adlabs and Shyam Shroff of Shringar Films.

Adlabs went public late last year with an IPO of Rs 53 crore. The largest portion of this has been used for the IMAX Dome Theatre in Mumbai.
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Reliance to enter NLD in Apr
Mumbai: Reliance Infocom is gearing up to launch its national long distance, limited mobility and basic telephony services by April.

Reliance will kick off the entire basket of its telecom services WLL, NLD and basic in 14-15 cities, but by June-end the company expects to have a coverage of around 200 cities. Over 600 cities are expected to be covered by December-end.

The company will begin soft launch of its limited mobility operations in around 14 cities by February-end. The commercial launch of this service is expected by April. Reliance will also try out the newer and much more efficient Internet Protocol (IP) network for the entire range of its telecom service.

The first 14 cities that are expected to be covered by Reliances NLD, basic and WLL services include Delhi, Mumbai, Ahmedabad, Gurgaon, Chandigarh, Pune, Lucknow, Bangalore, Hyderabad, Coimbatore, Vijaywada and Kochi.

For Reliances WLL venture, major vendors like Nortel, Lucent, Motorola, Hyundai and Ericsson are in the race for supplying equipment.
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Oracle launches online partnership
New Delhi: Oracle has launched its online partner network in India to provide single-point online entry to its resources.

Oracle Partner Network will simplify the method of accessing and delivering Oracle(R) and other third party resources.

OPN features a partner-specified website portal that helps the partner move their business online, cut costs and increase efficiency by providing access to all of the resources.

Now members will have access to new series that will enable them to develop, market and sell and deliver solutions into the market faster.
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Qualcomm to pick up 3% Reliance Info stake
Mumbai: Qualcomm of the US is likely to invest in excess of $360 million for a 3 per cent stake in Reliance Infocom. San Diego-based Qualcomm is the pioneer of CDMA (code division multiple access) wireless technology.

A high-level team led by Reliance Group president Manoj Modi was in the US in November to hold discussions with Qualcomm.

At present, Reliance Industries is the lead investor in Reliance Infocom with 45 per cent stake. The balance 55 per cent is collectively held among four Reliance group investment companies.
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Vendors agree to cut telecom kit price
New Delhi: Telecom vendors, Motorola, Lucent and Ericsson, have agreed to cut their bid prices for supplying equipment to Bharat Sanchar Nigam Ltd (BSNL) for its nationwide cellular foray.

The BSNL has awarded the North, South and West zones to Ericsson, Motorola and Lucent at re-negotiated prices. Discussions with Ericsson are still on for the East Zone.

The acceptance of the new prices would result in a saving of Rs 187 crore for the BSNL.
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Bajaj launches Legend in Assam
Guwahati: Bajaj Auto Ltd has launched its new generation scooter, Legend NXT, in Assam. The price tag of the scooter is Rs 30,814 (ex-showroom Guwahati).

It has 8.3 HP @5500 RMP, 5 port read valve, 1.25 kg induction technology. The aerodynamic shape, futuristic styling, powerful 45/40 Watt, multifocal clear lens headlight and strong monocoque chassis makes it distinctive in the market.
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HM launches Pushpak
Thiruvananthapuram: Hindustan Motors Ltd (HM) has launched its latest multi-utility vehicle, Pushpak, targeted at the semi-urban and rural markets in Kerala.

The soft-top MUV is designed as a vehicle for point-to-point travel and passenger and goods carrier for small-scale industries and traders.

The vehicle comes with a 2000cc diesel engine incorporating Japanese technology, five-speed fully synchromeshed Isuzu gear box, vacuum-assisted power brakes, front independent suspension and tubular chassis.

Most of the mechanical parts of Pushpak are same as those of the Ambassador. The vehicle is priced at Rs. 3.49 lakh.
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Pantaloon on expansion spree
New Delhi: Pantaloon Retail will be adding three Big Bazaars in Mumbai and one in Gurgaon (near Delhi) next year. This would require an investment of approximately Rs 30 crore. The company has already opened three Big Bazaars in Hyderabad, Kolkata, and Bangalore last year with a total investment of around Rs 20 crore. At present, Pantaloon Retail owns about 4.5 lakh sq.ft. of space which is inclusive of the Pantaloon stores and Big Bazaars.
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Reliance, Essar win CBM blocks
New Delhi: Reliance Industries Ltd has been awarded the east and west Sohagpur blocks under the first found of coal-bed methane (CBM) policy of the Government.

Essar Oil Ltd has been awarded the Ranigunj block, while the consortium of Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC) has been given the Bokaro and North Karanpura blocks.

The cabinet committee on economic affairs has also approved the allocation of two CBM blocks - one each in Ranigunj (West Bengal) and Jharia coalfield (Jharkhand) - to the consortium of ONGC and Coal India Ltd (CIL) on nomination basis for exploration and production of CBM.
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Zee to launch encrypted beam
Mumbai: Zee TV will offer from December end, a separate encrypted broadcast beam for markets in West Asia, Pakistan, Bangladesh and Nepal.

Zee estimates airtime sales of $ 4-5 million per annum from markets covered under the new beam. It went pay in all these places in June.

The Pakistan market is almost virgin for us. We believe we could get our rightful share of advertising revenues from them by offering prime-time inventory at locally competitive prices, more so since Zee TV is by far No. 1 in Pakistan.''

Zee may also consider some content customisation on the beam. This follows the previously announced receipt of Government permission to uplink seven of its channels from India, which in turn has freed up a lot of facilities at Singapore for customisation.
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Lenders to infuse $20 million in Dabhol
Mumbai: Indian and foreign lenders are to release more than $20 million to the Dabhol Power Company (DPC) in an attempt to save the company.

The decision was taken at the recent meeting in Singapore of the Industrial Development Bank of India led institutions, foreign lenders, DPC, potential buyers Tata Power Company and BSES Ltd.
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FIPB clears Toyotas CBU imports
New Delhi: The Foreign Investment Promotion Board (FIPB) has given the go-ahead to Toyota Kirloskar Motor Ltd to import completely built units (CBUs) of its range of vehicles. Toyota is likely to launch its highly popular Land Cruiser, Camry and Lexus brands in India next year through this channel.

The Land Cruiser is expected to be priced under Rs 40 lakh, the three-box Camry at over Rs 20 lakh and the top-end luxury sedan Lexus at around Rs 50 lakh.

The Lexus is compared with the top-end Mercedes S-class sedan produced by DaimlerChrysler. Toyota is also likely to launch domestically several of its other car models from its global portfolio.

Toyota had sought FIPB's permission to import CBUs from its parent, Toyota Motor Corporation of Japan, and other overseas units.
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HDFC Bank to fund heavy vehicles
Chennai: HDFC Bank is entering into heavy- and light-commercial vehicle financing.

The bank is aiming to become one of the top three HCV, LCV financiers in the next two years.

The bank will face competition from well-entrenched players such as ICICI and Kotak Mahindra, apart from regional leaders such as Sundaram Finance and Cholamandalam Finance.
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Jet Airways plans to add six Boeing aircraft
Mumbai: Jet Airways is planning to expand its fleet to 42 aircraft by acquiring six more Boeing 737-700/800s in two phases by March 2003.

The first batch of the new aircraft, which is scheduled for delivery by February 2002, will replace smaller 737-400s in the airline's fleet. The remaining aircraft will arrive by March 2003.
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