Bharti ties up with VSNL
New Delhi: Bharti Tele-Ventures has tied up with state-run monopoly overseas calls carrier VSNL to carry international calls of mobile firms using its national long distance network.

The arrangement will allow the mobile carriers to route their international calls directly through VSNL.

Bharti's interconnect agreement with VSNL will allow mobile companies to bypass BSNL's national network even for international calls.

VSNL will be able to get access to over five million and growing customers in the cellular sector and the cellular operators will stand to gain from a choice of carrier and a better revenue-sharing arrangement.
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UTI trustees say no to divestment
Mumbai: The board of trustees of the UTI has decided to appoint an independent audit firm to review several investments made by UTI in companies including Reliance Industries, Zee Telefilms, Essar Steel and DSQ Software over the past few years.

The UTI trustees also decided against the recommendation made by the Malegam committee to divest part of UTI equity to a strategic partner.
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MUL posts Rs 30cr net profit in H1
New Delhi: Maruti Udyog has made a turn around by posting a net profit of Rs 30 crore during the first half of this fiscal.

The company has also improved its sales turnover by 4 per cent at Rs 4,665 crore during April-September 2001-02 over Rs 4,490 crore in the year-ago period, Maruti managing director Jagdish Khattar told reporters.

During April-September 2000-01, Maruti had suffered a net loss of Rs 104 crore. Last fiscal, the company's net loss climbed to Rs 269 crore over a turnover of Rs 9,250 crore, the first time in its 17-year history.
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Infosys tops Review 200 India poll
New Delhi: Infosys Technologies has bagged the top position for 'overall leadership' for the second year running in India, according to a Far Eastern Economic Review's annual company survey. While Infosys took top position in the Review 200 India poll, Reliance Industries and Wipro remained unchanged in their number two and three slots respectively.

Hero Honda was ranked fourth while the fifth and sixth slots were taken by Dr Reddy's lab and Larsen and Toubro respectively.

Others who figured in the top 10 positions included Ranbaxy Labs finishing seventh and ITC eighth, Cipla ninth and ICICI at the tenth position.
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IA plans media blitz
New Delhi: Indian Airlines has decided to glide into the prime time TV commercial circuit. The airline has lined up four ad agencies Adfactors, Bates India, Grey Worldwide and Akshara Advertisingfor the job.

The airline is negotiating with leading television channels for the slot. The commercials would highlight the various schemes and strengths of the airline.
The advertising campaign would also aim at boosting the image of IA.
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Ericsson wins $50-m Indian deal
New Delhi: Ericsson, the world's number one telecoms gear maker, has won a $50 million order to supply mobile networks to the Indian unit of Hong Kong's Hutchison Telecom.

Ericsson will provide the complete core switching network infrastructure, radio network and microwave equipment to operate GSM services in three new areas of Karnataka, Andhra Pradesh and Chennai.

Hutchison operates mobile networks in Mumbai, New Delhi, Gujarat and Kolkata.
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ICICI, Prudential to invest in insurance JV
Mumbai: ICICI and Prudential of UK will together infuse fresh capital of Rs 80 crore into ICICI Prudential Life Insurance Company in the next six months to support growth plans.

ICICI and Prudential will bring in Rs 60 crore and Rs 20 crore respectively in two tranches. With this capital infusion equity base will grow to Rs 230 crore.

The company has issued 48,000 policies and needs extra capital to support business expansion plans for 2002-03.

The JV has earned Rs 65 crore through insurance premium and these resources plus capital are being used for growth plans.
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Ranbaxy gets Nigerian AIDS drugs order
Mumbai: Ranbaxy Laboratories Nigerian unit has received a $1.75 million order to supply anti-AIDS drugs. Ranbaxy will supply lamivudine, stavudine and nevirapine, which form a three-drug anti-AIDS cocktail.

The patent for lamivudine is controlled by GlaxoSmithKline Plc, stavudine by Bristol-Myers Squibb and nevirapine by Germany's Boehringer Ingelheim.

Another Indian drugmaker, Cipla, has already agreed to supply $3.5 million worth of cheap anti-AIDS drugs to a Nigerian programme to treat 10,000 AIDS patients.
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Wolvernine to enter Indian mkt
New Delhi: US shoe major, Wolvernine Worldwide, has decided to enter the Indian market beginning next year with premium brands 'Caterpillar' and 'Merrell'.
The $1 billion company sells its shoe brands across 152 countries.

In India, the company will partner with retailer Royal Sporting House. RSH has 650 retail store across 29 countries including India. The Indian supply of the two brands would be sourced from Wolvernine's China facility.
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ITDC to manufacture chocolates
New Delhi: India Tourism Development Corporation is contemplating manufacturing and marketing of chocolate under a brand name through its duty-free shops as part of a strategy to grow after divestment of its hotels.

A concept paper for entering chocolate manufacturing was being prepared. The chocolate will be sold under the brand name 'Ashok'.

ITDC hopes to capture 25 per cent of the business at the duty free shops.
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Zarlink to open India office next year
New Delhi: Zarlink Semiconductor is planning to set up an office in India. The $450-million Canadian company generates $113 million annually from its operations in Asia-Pacific region.

The company, through its channel partners, generates over $3 million from India operations.
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Central Bank to launch debit card
New Delhi: Central Bank of India has become the first PSU bank to launch an online debit programme in India.

Central Bank cardholders will also be able to withdraw cash globally and through 1,800 odd Mastercard Maestro and Cirrus Networks in India.

Central Bank of India, which has 1,714 branches and sponsores 23 regional rural banks, has assets worth $9.7 billion and a business of $12.6 billion.
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Tata Investment sells 8.04% stake in Forbes
Mumbai: Tata Investment Corporation has sold an 8.04 per cent stake in Forbes Gokak to Sterling Investment Corporation for Rs 90.15 million. The deal was struck at Rs 90 per share.

Sterling is part of Shapoorji Pallonji construction group, which made an open offer in October for 20 per cent stake in Gokak at Rs 80 per share.
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Tata Coffee to set up plant in Russia
Bangalore: Tata Coffee is all set to commence work on its proposed 50:50 joint venture with Russian firm Grand Trade for setting up an instant coffee plant in Russia.

The project is expected to be completed within 12 months. The plant will be located 150 km from Moscow.

The plant will have 3 million kilos per annum capacity but this would be increased later.
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IOC plans two major projects in TN
Chennai: IndianOil Corporation (IOC) is planning to implement the Chennai-Tiruchy-Madurai (CTM) fuel pipeline and a refinery residue-based 500-mw power project attached to the Chennai Petroleum Corporation (CPCL) refinery at Manali near here.

The 504-km long petro-product pipeline was estimated to cost Rs 540 crore.
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Jindal Tractebel picks 12% in Jindal Steel
Mumbai: Jindal Tractebel Power Co (JTPC) has picked up 11.63 per cent of the promoters stake in Jindal Vijayanagar Steel Ltd (JVSL).

JTPC has brought a total of 15,01,65,860 equity shares of JVSL of Rs 10 each.
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M&M plans overseas assembly lines
Mumbai: Mahindra & Mahindra Ltd (M&M) is planning to set up assembly line facilities for its automotive division in select countries.

M&M currently has tie-ups in certain countries where it mainly has an export presence. But with the proposed launch of Scorpio, M&M is planning assembly line facilities in countries where it expects to generate considerable volumes.

M&M has identified Latin America, Russia, CIS, South Africa and South-East Asian countries, wherefrom it expects to generate maximum export volumes.
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Vamicol renamed as Jivanjor
Mumbai: Vamicol, formerly Vam Organics, has been rechristened as Jivanjor. The Jivanjor range presently comprises white wood adhesive, rubber-based adhesive, polyurethane adhesive and wood finishes.
The company hopes to up its share in performance chemical market from 20 per cent valued at Rs 461 cr, to 35 per cent of the total by the year 2004.
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Air Sahara to get three Boeing from Japan
New Delhi: Air Sahara will shortly receive three leased Boeing 737s from Tombo Aviation, a Japanese leasing company.

While the B737-700s are said to have attracted a monthly lease rental of less than $2,50,000 a piece, the B737-400 may come for around $1,90,000.

The induction of these planes should take the total fleet size to nine and the number of daily flights to 45 and destinations to 14.

Additional flights will be launched to Delhi, Mumbai, Bangalore, Calcutta apart from introducing some new services.
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Tata Steel starts retail outlets
Kolkata: Tata Ryerson, a joint venture between Tata Steel and Ryerson International of USA, will launch its first retail outlet in Kolkata soon.

It is the first time that steel and steel products will be retailed out of its own outlets.

Tata Ryerson is a premier materials management service provider to consumers of industrial material.
Tata Ryersons first retail point has come up at at Chaltabagan in North Kolkata, which happens to be the steel retail hub of the city.
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Pantaloons to launch womens garments
Ahmedabad: Pantaloons is all set to launch a new womens ethnic wear range made from handloom. The handloom will be sourced from Andhra Pradesh Handloom Weavers Co-operative Society (APCO).
The National Institute of Fashion Technology is working on creating the new collection, which is expected to hit the Pantaloons showrooms by February, 2002.

The main offering will be salwar-kameez.
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