Tatas now eye MTNL, BSNL
New Delhi: The Tata group is keen to acquire government stake in Mahanagar Telephone Nigam Limited and Bharat Sanchar Nigam Limited.

The group has indicated that the total investment envisaged in telecom over the next few years may be increased to beyond Rs 10,000 crore and a decision is likely within the next four-six weeks.

While asserting that no timetable had been set for divesting stake in the two telecom companies, communication minister Pramod Mahajan said last week that the government would not bar Tatas from bidding for these two telecom majors.
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Novo seeks deal for diabetes drug
New Delhi: Novo Nordisk is in talks with a few global pharmaceutical majors to strike a commercial marketing agreement for a co-licenced anti-diabetes molecule under development.

Novo wants to enter into a commercial agreement with a pharma major for marketing the anti-diabetes drug in the US. Roche Pharmaceuticals is one of the possible firms that Novo Nordisk is negotiating with.
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NAI to hire developers for Bangalore centre
Bangalore: The US-based Network Associates (NAI) plans to recruit over a 100 software professionals for its upcoming Bangalore development centre.

The centre will focus on developing NAI's Sniffer and the hugely popular McAfee products. NAI will appoint a vice-president for the development centre from outside the organisation.

NAI has been into product development out of Bangalore solely through work contracts. A Sniffer for VoIP network management, will be launched once VoIP is licensed in India. In a VoIP environment, Sniffer can correlate data and voice over the network in real time, especially in situations  when either of them uses up bandwidth disproportionately.
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AV Birla group to hike stake in MRPL
Mumbai: The AV Birla group is increasing its stake in the loss-making Mangalore Refinery and Petrochemicals (MRPL) only to exit the venture by selling off its management control at a later date.

The AV Birla group had announced over a year back that it wants to exit the refinery project as it does not form part of its core competency.

However, after negotiations, with the joint venture partner Hindustan Petroleum Corporation (HPCL), to sell its 37 per cent stake in the project failed, the group in a surprise move asked for management control in the refinery project. 
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Zuari to infuse Rs 100 crore in Paradeep Phosphates
New Delhi: Zuari Maroc Phosphates plans to invest about Rs 100 crore in balancing and upgrading the existing plant and machinery of the Paradeep Phosphates Limited.

With the acquisition of PPL, Zuari-Chambal has set its sights on producing two million tons of fertiliser per annum, which will give it one-third market share of the total phosphatic fertiliser market in the country.

Zuari Maroc and government are expected to complete the Rs 151.70 acquisition transaction within 10 days. 
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SWC to invest Rs 100 crore on expansion
Mumbai: Shaw Wallace Distilleries Ltd plans to invest around Rs 100 crore for upgradation and capacity expansion of its manufacturing facilities.

The company plans to expand the capacities of its manufacturing facilities by another 10 million cases which will help in reducing dependence on contract manufacturing.

Shaw Wallace Distilleries Ltd  owns 14 distilleries and has strategic alliances with 24 distilleries all over India with a total capacity of 25 million cases. Out of this, 15 million cases are manufactured at its own units, while 10 million cases are sourced through contract manufacturing. 
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Deccan Aviation to roll out O&M services
Chennai: Deccan Aviation Ltd is is talking to Reliance and Mahindra group of companies for a contract to maintain their aircraft.

The company is the exclusive sales and service representative of Rolls-Royce Engine Services-Oakland Inc for their Allison 250 series of aircraft engines in India.

While Reliance owns a Beachcraft 1900 and an HS 125, Mahindras have a Beachcraft 200 and a helicopter. For basic maintenance, the charter aviation company plans to charge a fee of around Rs 1 lakh per month.

For O&M contracts, the company is mainly targeting corporates like Videocon and Oberois, which have one or two aircraft and are spending a huge amount on basic infrastructure. 
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Sarda Plywood plans delisting from DSE
Kolkata:  Sarda Plywood Industries has decided to seek voluntary delisting from Delhi Stock Exchange.

An enabling resolution seeking permission of the shareholders to go ahead with the proposal would be placed for approval at the companys annual general meeting on 25 February.

Sarda Plywoods shares would continue to remain listed at BSE and CSE.

Sarda Plywood had reported a net profit of Rs 5.45 crore during the 18-month financial year-end in September, 2001 against only Rs 0.56 crore net profit in 1999-2000.

Apart from plywood, the company has interests in tea and real estate and was planning to further expand tea business. 
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British Biologicals to launch protein supplements
Bangalore: British Biologicals, which owns 70 per cent of the palatable nutrition supplement market, is planning to launch a slew of products in the protein segment. The new products include a nutrition supplement health drink, Kids-Pro, for kids in the 2-10 years age group and a new flavour of the companys well known product D-Protein, Columbian Coffee Ecstacy.

The R&D wing is also working on a protein supplement for cancer patients, which would help in weight maintenance due to radiation and chemotherapy.

The product would be a combination of six flavours in one pack. British Biologicals would be bringing out 18 disease-based neutraceutical products in the next two to three years. The new product portfolio would also include products for ageing and cholestrol control. 
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Bharti to offer 50% cheaper ILD rates
New Delhi: The Bharti group has decided to offer international long distance (ILD) services at rates that are up to 50 per cent lower than those charged by Videsh Sanchar Nigam Ltd (VSNL).

Bharti's ISD services are scheduled to be launched in April.

The company is negotiating settlement rates with foreign carriers in the American continent, Europe and West Asia.

The current ISD tariff for the SAARC and neighbouring countries ranges from Rs 21 to Rs 25 per minute, while for countries in Europe, Asia, Gulf and the Oceania region, it ranges from Rs 34 to Rs 40 per minute.

ISD tariff on calls to the American continent and other countries in the Western hemisphere ranges between Rs 42 and Rs 48 per minute. 
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Maruti launches Wagon-R upgrades
New Delhi: Maruti Udyog Ltd (MUL) has launched upgraded versions of all three variants of Wagon-R.

The new upgraded Wagon-Rs are being shipped to company dealers over the weekend and will be available at virtually the same price.

The changes in the three variants - LX, LXi and VXi - include new colours (Laguna Blue and Coral Beige), new seat fabric that is more vibrant and luxurious, door trim fabric matching with the seat fabric, a brighter speedometer dial for easy viewing and reference and rear door beading, for better rear looks. 
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BPCL to buy  $2-b crude oil from Gulf
Mumbai: Bharat Petroleum Corporation has decided to buy about 8m tonnes of crude oil worth about $2 billion from three Gulf companies Saudi Aramco, Yemen Oil and Gas and Kuwait Petroleum.

The crude will be purchased at the official selling price, which is based on the benchmark prices of Oman and Dubai crude. The companies were earlier supplying crude to IndianOil, which was the canalising agent for all the public sector oil companies.

BPCL is expected to come out with its tender next week and will source crude by itself from 1 April.

BPCLs crude requirement is about 19m tonnes, which includes 8.5m tonnes for its Mumbai refinery, about 7.5m tonnes for the Kochi Refinery and about 3m tonnes for the Assam-based Numaligarh refinery.
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Tata Power, Gail may jointly bid for DPC
Mumbai: Tata Power may forge a joint venture with Gas Authority of India and TotalFina-Elf to bid for Enrons Dabhol Power Company.

While Tata Power proposes to take management control of the power plant, TotalFina-Elf could manage the LNG transportation and regassification facilities, while GAIL will handle distribution of LNG in the open market.
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M&M to launch 3 variants of UVs
Mumbai: Mahindra & Mahindra is set to launch three new variants of its utility vehicles in the next three to four months.

M&M is launching Camper with a Bolero type front look. This vehicle, to be launched in February, will be priced at Rs 4 lakh.

Even as it is readying to launch the much-awaited Scorpio for the top end in April this year, M&M has decided to come out with a soft top version on the Maxx platform.

The company, which plans to launch this variant in four months, is currently test marketing the product. The soft top, to be priced around Rs 3 lakh, will be much roomier than the Maxx model.
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Britannia to sell stake in Dynamix
New Delhi: Britannia is selling its 11 per cent holding in Dynamix Dairy Industries to US-based Schreiber International.

The transaction will see Schreibers holding in the Rs 53-crore paid up capital of the joint venture company rise to 19 per cent from the existing 8 per cent.

Britannia decision to pull out of the joint venture comes close on the heels on its tying up with Fonterra Co-operative Group of the New Zealand for dairy products business.
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Indal to acquire Norsk stake in Utkal Alumina
Mumbai: Indal will pay Rs 25 crore to Norwegian major Norsk Hydro for the additional 35 per cent stake in the Rs 4,300-crore Utkal Alumina.

Hydro had last month announced its decision to exit the alumina project after expressing regret at lack of progress in Orissa.  Of Hydros 45 per cent stake, 35 per cent will go to Indal and the remaining 10 per cent will go to the third partner Alcan.

The Utkal Alumina project is intended to produce 1 million tonne of alumina for the international market.
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AVB Group to tie up with Wipro
Bangalore: The Aditya Birla group is exploring the possibility of tying up with Wipro Technologies for online procurement of products.

The group flagship Hindalco has started online procurement of goods and this will now be extended to other group companies. Hindlaco has achieved around 10 per cent savings through the recent e-procurement initiatives. The company has developed a sofware inhouse for reverse auctioning which will enable it to procure goods and services at the lowest price.

The group is also talking to companies such as Commerce 1, and FreeMarket for e-procurement solutions.
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Leela to revamp group companies
Bangalore: The Leela group has decided to restructure its companies, rope in new partners and reduce its around Rs 650 crore debt.

The group runs hotels and a garment export company.

Hong Kong-based Mandarin Oriental and the Singapore-based Raffles are in talks with the company to pick up a stake in Leela Ventures Ltd.

The Kempenski, with which Leela Ventures has a marketing tie-up, plans to set up a joint venture to manage hotel properties in Chennai, Delhi and Calcutta. Leela Ventures is expected to hold around 70 per cent in the venture.
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