Infosys net profit up 24%
Bangalore: Infosys Technologies net profit for the quarter ending 31 December 2001 has gone up to Rs 206 crore, which is an increase of 24 per cent.
Infosys' income grew by 24.5 per cent to Rs 660 crore, up from Rs 537 crore in the corresponding quarter last year.
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Qualcomm to invest in Reliance
Mumbai: San Diego-based QualComm Inc is to invest up to US $200 million for a less than five per cent stake in Reliance Communications Ltd (RCL).

The strategic alliance inked on 10 January is to support the introduction of next-generation code division multiple access (CDMA) wireless technology in India.
The investment of Rs 1,000 crore by QualComm in RCL is the largest in basic services in any single telecom services licensee company in India. RCL intends to provide basic telephone services, WLL with limited mobility and national long distance services in the country. It also proposes to enter into international long distance telephony once the sector is open to private companies.
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Italcementi to buy Sri Vishnu Cement
Milan: A unit of Italian cement maker Italcementi has agreed to buy 94 per cent of India's Sri Vishnu Cement.

Zuari Cement, which includes Italcementi's Ciment Francais unit in France, reached a deal to buy the shares from India Cement.

Sri Vishnu has a manufacturing capacity of 1.25 million tonnes in Andhra Pradesh.
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KPC offers Rs 110 cr for Birlas stake in MRPL
New Delhi: Kuwait Petroleum Corporation (KPC) has made a conditional offer of about Rs 110 crore for Aditya Birla Group's 37.39 per cent stake in the Mangalore Refineries and Petrochemicals (MRPL).
KPC has offered a price of about Rs 3.60 a share for A V Birla Group's holding of 297,169,918 shares in the nine million tonnes refinery.

A V Birla Group has so far not reacted to KPC's offer.
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Essar to merge 5 cellular Cos
Mumbai: The Ruias have decided to merge their holdings in five cellular companies into one entity, Essar Teleholdings.

The five companies include the two cellular companies fully owned by the Essar groupAircel Digilink and Evergrowth Telecom Ltdand Sterling Cellular in which the Ruias own a 49 per cent stake, with the remaining equity shared between Hutchison Telecom and Kotak Mahindra.

The Ruias also have the option to buy a stake of up to 30 per cent in Hutchison Max Telecom.

This stake will also be transferred to the holding company. The stake held by the Essar Group in Hutchison Essar South Ltd, will also be transferred to Essar Teleholdings.
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UB to gain control of UNB
Mumbai: Share holders of United National Breweries (SA) have approved buyback of 65.6 per cent equity through internal accurals and issuance of preference shares on a private placement basis.

Bangalore-based United Breweries, through its South African subsidiary, currently holds 34.4 per cent of UNB's capital, United Breweries said in a release here.
UBL has been managing UNB since 1996 in terms of a management agreement with them. UNB manufactures and markets beer from 11 of its 18 breweries located in South Africa. It brews 4.5 million hectolitres of beer annually.

The company expects a revenue of Rs 240 crore and net income of Rs 17 crore in 2002.
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Toyota posts 28.6% rise in 2001 sales
New Delhi: Toyota Kirloskar Motor has said that the sales of its multi-purpose-vehicle 'Qualis' went up by 28.6 per cent during 2001 at 28,022 units over 21,785 units in the previous year.

The company, in a statement, said the improved sales have helped to boost marketshare in the MPV category to 41 per cent from 36 per cent a year ago.

'Qualis', launched in January 2000, exceeded the target of 20,000 units in 2000, its first year of operations.
Toyota, which sells only diesel engine versions of the 'Qualis', would soon launch a petrol engine variant.
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Ranbaxy exports grow by 23%
Mumbai: Ranbaxy Labo4ratories has said its exports for the year ended December rose 26 per cent to Rs 1,030 crore over a year earlier.

The company exports its drugs to 94 countries and has manufacturing facilities in six countries outside India: the United States, Malaysia, Vietnam, Nigeria, Ireland and China.
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Tax exemption for battery operated cars in Goa
Panaji: Goa government has decided to give sales tax exemption for two years to small battery operated cars.
The move is aimed to promote and encourage manufacture of battery operated cars as it was environment friendly
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HM to make engines for Ford Ikon
New Delhi: Hindustan Motors will make engines for the Ford Motor at its plant in Pithampur in Madhya Pradesh.

The deal would enable Ford India to source engines and transmission systems for its mid-size Ikon from the HM plant.

At present, Ford India imports both petrol and diesel engines for its six Ikon variants from its parent company.

HM was currently utilising 65 per cent of the total installed capacity of 30,000 units at the Pithampur plant.

HM, one of the country's oldest automakers, manufactures the Ambassador car, rural transport vehicle as well as the premium mid-size Lancer in technical alliance with Japan's Mitsubishi Motors.
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Universal to market Alibaba soundtrack
Chennai: Pentamedia Graphics Ltd has tied up with music major Universal Music for the production and marketing of the soundtrack of its latest animated film Alibaba.

The soundtrack contained nine songs performed by several reputed Canadian artists.

Pentamedia and Universal Music India have entered into an exclusive manufacturing, marketing and distribution agreement for the soundtrack of Alibaba, which is due to be released on 25 January 25.
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TechSpan to hire 100 IT professionals
Bangalore:  The US-based TechSpan is planning to recruit around 100 software professionals over the next 60 days for its facility at Noida near Delhi. The move comes close on the heels of the software and services consulting company eyeing the offshore market more aggressively. The company may recruit another 250 people by the end of this calendar year.

TechSpan is investing around Rs 20-25 crore on a new facility at Noida, close to the existing one.
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Lifespring plans expansion
New Delhi: Lifesprings chain of multi-speciality super pharmacy stores is expanding to 45 more outlets in Delhi, Mumbai and surrounding areas over the next two years.

Lifespring super pharmacy stores offer total health and beauty products of international and Indian brands.

The company also plans to set up another 25 smaller stores, Lifespring Express, which will be part of the hypermarket Metro Sabka Bazar superstores being set up by the Ansal group and The Home Store (THS).

The company has an investment plan of around Rs 50 crore which will be spent over the next two years to set up 45 super pharmacy stores and Lifespring Express drug stores.

The companys first pilot project of five stores are already up and running which involved an investment of Rs 10 crore.
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George Williamson to become debt-free
Kolkata: George Williamson (Assam) Ltd, owned by the UK-based Magor family, is planning to clear its entire debt burden of Rs 15 crore by March this year. The company aims to clear the secured as well as unsecured debt.

The company produces around 20 million kg of tea a year from 17 gardens.

Controlled by Williamson Tea Holdings plc of the UK, George Williamson (Assam) has a total debt component of Rs 15.39 crore, of which Rs 7.21 crore is secured and balance unsecured.
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Hutchison inks pact with TeliVoice
New Delhi: The Hutchison affiliated companies in India have tied up with one of Sabeer Bhatias latest ventures-TeliVoice, for voice messaging service (VMS). This will allow subscribers to send voice messages to US and Canada at Rs 5.99 per minute.

Similarly, messages can be sent between Hutchison subscribers on Orange (Mumbai), Essar (Delhi), Celforce (Gujarat) and Command (Kolkata). This will cost subscribers Rs 2.99 per minute from their cellphones.
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Hyundai, Nerolac ink deal
New Delhi: Goodlass Nerolac has finalised a deal with Hyundai Motors for automotive paint.

Hyundai Motor, Korea, has approved Goodlass Nerolac for the total system including pre-treatment chemicals, electro deposition prima and top coats manufactured in India.

Hyundai has asked Nerolac to develop four shades as per their colour samples. These have been developed and are under evaluation by the Korean automobile giant.
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HECL to enter telecom services
New Delhi: Hughes Escorts Communication is floating a 100 per cent arm to undertake telecom equipment manufacture and a host of other activities.
 
The proposed subsidiary is also planning to enter the telecom services arena.

Hughes has 49 per cent stake in the HECL while the Escorts group holds 48.2 per cent stake and the remaining equity is held by other Indian investors.
The new venture will also enter into network design and network applications as well as the import, marketing and selling of telecom-related technologies, both hardware and software.
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Nestle ups stake
Mumbai: Swiss multinational Nestle has raised stake in its subsidiary Nestle India by 2.02 per cent to 53.27 per cent of the capital as on 11 December. There has been change of 19.48 lakh shares (2.02%) in the shareholding of the promoters and persons having control over the company since 15 June, Nestle India informed the BSE.
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Amul plans foray into sugar
New Delhi: The Gujarat Cooperative Milk Marketing Federation is planning a foray into the branded sugar segment. The Rs 2,258-crore turnover cooperative dairy major is currently in talks with the National Federation of Cooperative Sugar Factories Ltd (NFCSFL) for the proposed venture.

The NFCSFL represents the interests of cooperative sugar mills, which account for around 55 per cent of the total sugar produced in the country.

The branded sugar segment already includes names such as Modi and Dhampur, which are produced by mills in the private sector.
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ColorPlus launches Purple Club ties
Bangalore: ColorPlus Fashions has enhanced its super-premium Purple Club line of shirts, trousers and suits, with handmade silk ties.

This new collection will be available at Purple Club corners in select ColorPlus outlets, price upwards of Rs 1,500, from mid-January.

Purple Club ties are made with 7-folds of finest silks. It is this lining less construction which gives it the perfect knot the one with the dimple below it.
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Foster's plans foray in Karnataka
Bangalore: Fosters India Ltd is planning to make a foray into Karnataka by April.

Foster's has already started recruiting staff for its operations in Bangalore and is expected to service this market from its greenfield brewery in Aurangabad. The beer brand will also foray into other markets including Kerala, Madhya Pradesh and Kolkata.

The Australian beer giant's entry into Bangalore, home turf for domestic major United Breweries (UB), is being keenly watched by industry observers.
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Oxemberg to extend menswear portfolio
Pune: Oxemberg, part of the Rs 1,000-crore Siyaram Poddar group's Siyaram Silk Mills, is firming up plans to foray into the men's wardrobe accessories business.

The company will launch the Oxemberg brand of T-shirts, socks, and kerchiefs and ties next month.

The company is also simultaneously working at expanding the range of its casual wear and is soon to introduce new lines to cater to the increasing need of relaxed work wear for men according

The semi-casual and casual range from Siyaram will include three-ply cotton trousers.

The company is also increasing the number of its exclusive showrooms in Maharashtra and other places. The company's range of products include formal shirts and trousers, casual shirts and trousers and denim wear.
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ICICI Bank launches eCheque
Mumbai: ICICI Bank has launched `ICICI Bank eCheque', an online payment facility under which funds can be transferred from an ICICI Bank account to any other bank account. The facility would initially be available in Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, Nagpur and New Delhi, and would later be extended to seven more cities.

The bank has around one million online customers comprising around 25 per cent of its total customer base. More than 50 per cent of the bank's transactions were currently made through electronic channels as against a five per cent less than two years ago.
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