Royal Philips may buy stake in Indian arm
New Delhi: Netherlands-based Royal Philips electronics has decided to make an open purchase offer for 17.1 per cent of public shareholding in its Indian subsidiary Philips India limited at Rs 105 per share.

This will increase the parent's holding to 100 per cent which intends to delist the company if holding crossed 90 per cent.

The open offer closes on 5 February and is managed by DSP Merril Lynch, a company release said here.
The offer price of Rs 105, which is the 52-weeks high, has premium of 35 per cent over the closing period of Philips India at the Bombay Stock Exchange on 20 November, 2001 and a premium of 48 per cent over the Sebi mandated price.
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Air Sahara launches online ticketing
New Delhi: Air Sahara has launched its e-commerce initiative by introducing online ticketing facility for travellers. Travellers can now book and pay for their air tickets by logging on to www.airsahara.net. Payments can be made through Visa or Master credit cards, which would be processed through Icicis secured payment gateway service, ensuring maximum confidentiality.
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Software for film industry launched
Mumbai: For the first time in the country, a computer software has been developed that will revolutionise the Rs 10,000-crore Indian film industry by cutting down production costs.

Developed by city-based IT company trend Compusoft (India), the software will help television and film producers cut down costs up to an estimated 18 per cent.

The software would help create project reports for loans, draw up accurate budgets for projects and shooting stints, besides comparing expenses against budgeted amounts and planning schedules.
It would also help in forecasting profits, make a detailed analysis and absorb one-time costs.
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Usha Lexus plans expansion
New Delhi: Usha Lexus, part of the Usha Shriram Group, has chalked out a three-pronged expansion plan to up its presence in the countrys branded furniture market.

The company plans to expand the number of its sales outlets, from 24 at present to around 40 in a years time.

Secondly, the company would be further extending its productline, with the focus being on furniture.
Thirdly, the company plans to increase its storage capacity as part of its expansion plan. Incidentally, Usha Lexus sources a large part of its furniture items from countries such as Malaysia, Indonesia, Italy and Thailand, which is often time-consuming.
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UTI may cease to be govt entity
New Delhi: UTI might soon cease to be a government-sponsored entity, finance minister Yashwant Sinha indicated in an interview to the BBC.

He said the ministry is considering UTIs views on the Malegam committee report on restructuring Indias oldest and largest mutual fund.

The Malegam committee has diagnosed government sponsorship as one of the major infirmities of UTI, which has led to periodic crises and government bail-outs. Among other things, it has recommended that UTI be sponsored by a company in which a private partner holds 60 per cent of the equity.
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