Dishnet to provide online applications
Kolkata: Dishnet DSL Ltd is planning to offer the facility of filing online applications by students who wish to appear for the entrance exams of professional courses.

The company has partnered with Anna University, Chennai, for such a facility.

Students appearing for the professional courses entrance examination in engineering, architecture, medicine, agriculture and veterinary and animal sciences, in Tamil Nadu and under the aegis of Anna University, Chennai, can now fill up their forms online from over 75 Dishnet DSL hubs across the country.
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Sahara plans online ticket auction
Mumbai: Air Sahara will auction its economy class seats on the worldwide web beginning next week.

This new initiative is aimed at attracting train passengers to fly by offering them air tickets at almost the same price as a train ticket.

The bidding process will start about 20 days before a person plans his journey. The bidding for a ticket will be on for only five days.

To start with, about 20 per cent of the economy class seats in the plane will be earmarked for online bidding. The floor price will be less than half the actual fare.

Tickets bought through the auction cannot, however, be cancelled.
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Panalpina plans hub in Ahmedabad
Ahmedabad: The integrated freight forwarding and logistic company, Panalpina, plans to make the city its hub for India operations.

The company has zeroed in on Ahmedabad to transport cargo by air from different parts of India as the other major airports are often congested.
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Punjab Govt mulls tie-up with Nestle
Chandigarh: Punjab Government is contemplating a joint initiative with Nestle India to improve the milk-yielding potential of the state's cattle by adopting the latest technological packages, including embryo transplants.

The projects include country's first Food Park to provide technological, handling and processing and marketing facilities to Punjab's farmer in growing fruits and vegetables.

The government wants to secure maximum value for Punjab's milk producers through induction of world class private sector marketing and processing expertise.

Possibilities for the establishment of wheat processing facilities by Nestle in Punjab were discussed in a meeting, which was attended among others by Nestle India Limited's Chairman Carlo M Donati, financial commissioner P K Verma and principal secretary to the chief minister S K Sinha.
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Amul plans food retail biz
New Delhi: Amul has finalised its plans to enter the food retail business through its listed subsidiary Kaira Can.

Amul plans to call its food chain parlours Utterly Delicious and the first such self service outlet is scheduled to open in Vashi, Mumbai, early next month.

Amul food parlour is designed to take on the likes of McDonalds.

On the platter will be different kinds of soups, salads, sandwiches, parathas, curries, milk shakes, tea and coffee. Some of the food items will be outsourced while some will be cooked inhouse.

Amul has already launched tomato soup and curry in some of the markets and working out plans to launch tea and coffee as well. It has tied up with coffee board to cater to the immediate needs of its food parlour.
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Crocodile in expansion mode
New Delhi: Crocodile is all set to make inroads in north and west India.

Crocodile Products is planning to launch five Crocodile galleries each in Delhi and Mumbai.

The company has already opened over 40 galleries in south India. Crocodile Products will also be introducing the womens range towards mid-2002.

Crocodile worldwide has 240 products. Of these, only 11 are in India as of now. The product line will be increased to 40 by 2002 end.

A large chunk of the increase will come from the womens western wear, both formal and casual.
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Tata Tea in new package
Chennai: Tata Tea has launched its popular south-based tea brand Kanan Devan in an attractive new package. The company will shortly unveil a new advertising campaign to up its sales.
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HPL tells IOC to cut naphtha price
Kolkata: Haldia Petrochemicals wants cheaper naphtha from Indian Oil Corporation. In order to bargain for a better deal, HPL has initiated talks with Bharat Petroleum and Oil & Natural Gas Corporation.

Besides sourcing from domestic companies, HPL is also looking at imports.

HPL has naphtha feedstock to last till March. HPL is looking at cut in cost of naphtha supply, mainly on account of transportation from IOCs Haldia refinery to HPLs plant a few km away.

The companys naphtha bill for the year is expected to be over Rs 1,000 crore.
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MTNL to invest Rs 300 cr in ITI
New Delhi: Mahanagar Telephone Nigam Ltd proposes to invest Rs 300 crore in the cumulative preference share capital of telecom equipment manufacturing company, ITI Ltd.

The preference shares will be redeemable at par in five equal instalments at the rate of 8.75 per cent per annum.

Since preference shares form part of the total shareholder funds, it would help in the reduction of ITI's debt-equity ratio, without impacting the current shareholding pattern. The equity share capital of the company currently amounts to Rs 88 crore.
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Liquor majors plan foray into country liquor
Mumbai: Two liquor majors, McDowell and Shaw Wallace, are trying to make a pitch in the country liquor market.

The segment, billed to be the largest in terms of volume and value, is currently pegged at Rs 18,000 crore.

Shaw Wallace Distilleries Ltd is trying to enter the country liquor segment of various states, particularly Maharashtra.

The target is to have a manufacturing facility in every state.

The company is to launch three new brands in April this year in Uttar Pradesh and Maharashtra.
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Ashok Leyland to infuse fresh capital into ALF
Chennai: Ashok Leyland Finance plans to raise fresh capital through the issue of preference shares at par forming part of tier 11 capital. This is to shore up its networth and improve capital adequacy levels.

ALF is targeting to infuse nearly Rs 200 crore through the issue of preference shares. A major portion of the funds is expected to be pumped in by parent, Ashok Leyland, which had already invested Rs 73.39 crore over the years.
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Orient Infotech to buy Professional Access
Mumbai: Mumbai-based software services company, Orient Infotech, is acquiring New York-based company, Professional Access.

Professional Access is part of the Hong Kong-based Access group, which owns 62 per cent stake in the company.

Access is an IT subcontracting firm which does everything from projects on fixed and variable time basis to supply of professionals.
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Hudco plans tax-free bonds
New Delhi: Housing and Urban Development Corporation Ltd (Hudco) is seeking finance ministrys permission to float capital gains tax exemption bonds, which gives tax breaks to investors who have made capital gains.

Currently, such an exemption is extended only to bonds issued by the National Highways Authority of India, the National Bank for Agriculture and Rural Development and the Rural Electrification Corporation.

The Budget for 2002-03 proposes to extend this to the National Housing Bank as well.

Investment in such bonds by individuals, who have booked capital gains, are exempted from tax under section 54 EC of the Income-Tax Act.

Hudco intends to float the second tranche of Gujarat Punar Nirman bonds in the third week of March.

Hudco had raised Rs 231 crore from the last edition of the special tax-free bond in February.
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Vodafone offers virtual wallet
Hannover: Europe's two largest mobile operators, Vodafone Group Plc of UK and T-Mobile International Inc of Germany have joined hands in the creation of a mobile payment platform.

This is being planned as an open platform to be launched by the end of the year with an initial roll-out in Germany and UK.

The objective of this initiative is to make the mobile phone as easy to use as a conventional wallet. The payment platform will be used to create a secure and easy-to-use payment solution for purchase of goods and services via a mobile phone.
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ICICI Info mulls JV for China
Mumbai: ICICI Infotech Services Ltd is looking for a local partner to set up a joint venture in China to target financial services sector.

The company is currently in talks with four-five local players.
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BPCL, Cummins Auto in maintenance pact
Mumbai: Bharat Petroleum Corporation Ltd (BPCL) has tied up with Cummins Auto Services Ltd (CASL) for providing truck owners with maintenance services at its retail outlets along national highways.

The move is particularly targeted at truck fleet owners who own BPCL's Petrocard debit card.

The company, along with CASL, will draw up annual maintenance service contracts for truck fleets and provide services such as spare parts, towing and preventive maintenance at selected outlets.

BPCL has identified 75 to 80 locations along national highways for providing these services.
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HPF launches digital imaging
Coimbatore: Hindustan Photo Films Manufacturing Co Ltd (HPF) is launching new products like the digital imaging films (DIF) for medical diagnostic systems, ink-jet papers of photographic quality and film for the laser printing industry.

The DIF was soft launched here on 15 March. HPF is planning to introduce the product in a phased manner throughout the state and all over the country.

The DIF is a daylight film, which does not require wet processing, processing chemicals, exposure units or dark room conditions. The product has been developed for recording images from digital radiographic systems involving CT Scan, MRI, Echo Cardiogram and other digital systems.
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Philips Medical to merge subsidiaries
Mumbai: Philips Medical Systems India is merging Picker India and ATL India with itself.

The merger is in line with the global policy of integrating the separate companies into Philips Medical Systems and their products and services will operate under the Philips brand.

The move follows the recent global acquisition of the healthcare business of the UK-based Marconi Medical Systems, Agilents Healthcare Solutions Group, a division of Agilent Technologies, ADAC Laboratories, MedQuist and the US-based ATL Ultrasound by Philips Medical Systems.
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Connor merger with US co gets FIPB nod
Hyderabad: Connor Information Technology Ltd has received approval from the Foreign Investment Promotion Board for merger with the Florida-based Global Information Technology Inc, in a stock swap deal estimated at about $ 7.5 million.

Connor IT is expected to complete the merger with the US firm by June 2002.

Connor provides a range of services in technology integration and systems consulting, software development consulting and management of IT projects.

The Connor India office serves as a development hub and it has six other offices in the US, Europe and Asia.
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Gensys launches carrier website
Kochi: The Kochi-ased human resource company Gensys has launched an interactive carrier Web site.

The site www.gensysonline.com lists out resumes or jobs according to the patterns required. Users can register for a fee their resume or search for resumes.

Gensys has operating for over six years.

The company plans to open branches in Chennai and Bangalore soon.
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Air Sahara plans $60 m expansion
Mumbai: Air Sahara has plans to invest $60 million to acquire 15 new aircraft on dry lease three Boeing 737-700s and 12 Bombardiers eight 50-seater plus and four 70-seater aircraft to triple its existing fleet of seven aircraft by December 2002.

Of this, $20 million will be financed from the Sahara groups internal resources, while $40 million will be raised from financial institutions and banks.

The Boeing 737-700s will replace the three older Boeing 737-400s in its fleet, while the 12 Bombardier regional jets will extend theservices to smaller cities and towns.

The airline is also planning to get a flight simulator for the 50-seater Bombardiers to bring down its pilot training expenses.
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Parle plans Bangladesh, Lanka forays
Mumbai: Parle Products is planning to set up its own sales and distribution force in Bangladesh and Sri Lanka.

Currently exports contribute a negligible share to the total turnover. Parle Products has been exporting its products to the US and Middle East.

The company has added two more manufacturing units in Bangalore and Neemrana, Rajasthan. This is in addition to the companys existing facilities in Mumbai and Bahadurgarh.

The company commands a 40 per cent market share in the Rs 3,500 crore biscuit market in India.
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Zandu to set up exclusive outlets
Mumbai: Zandu Pharmaceuticals has opened its own store at Mahalaxmi, Mumbai.

This is the first store that the company has opened outside its depot.

The company plans having value-added services such as having a medical practitioner in the store who will answer queries and suggest ayurvedic remedies.

This is a trial run and the company will monitor sales from this store before deciding when to add more stores.

Zandu is planning to expand its presence in the ayurvedic personal care segment by launching herbal cosmetics & toiletries. The company also plans to launch 10-12 new products every year.
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Flextronics, ESS to pick up stake in MosChip
Mumbai: Electronic manufacturing services company, Flextronics is entering India through a strategic stake in MosChip.

Flextronics is picking up 4.58 per cent stake in the Hyderabad based semiconductor design company MosChip Semiconductors Ltd.

Flextronics will be allotted 8 lakhs shares along with 2.5 lakh warrants to be converted into equity within 18 months. The combination of equity and warrants will give Flextronics a stake of approximately 4.58 per cent.
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Lufthansa to ink pact with IT co
Kolkata: Lufthansa is in advanced stages of negotiation with city-based IT company Elecom Software for outsourcing a special space optimisation software for its entire logistics operation in Europe.

The software will control and automate the carriers cargo movement across all its centres in Europe.

The application will control Lufthansas entire re-loading and despatching of cargo from the hub at Frankfurt. Crockery, cutlery, pillows etc which are brought in from different centres at the Frankfurt base and then resend to other destinations according to specific requirements will be monitored.
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Tata Steel to offer automation services
Mumbai: Tata Steel is set to offer automation services to manufacturing companies, port operators and the mining industry.

Tata Honeywell, the groups automation company, will provide marketing expertise to Tata Steel in this initiative.

Tata Steel is expected to sign a few contracts in the beginning of the next financial year.

Tatas Steel is also planning to patent imaging systems and global positioning systems for the mining industry.
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SHV renews tie-up HPL
Hyderabad: SHV Energy India has renewed its tie-up with Haldia Petrochemicals Limited. SHV Energy India will continue to be a preferred customer of LPG for the HPL.

SHV Energy India is a part of the SHV Group, worlds leading LPG distribution company, while HPL is a joint venture of West Bengal Industrial Development Corporation, Chatterjee Petrochem (Mauritius) and the Tata Group.
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Tata Tea, Tetley cast a new board
Kolkata: An apex supervisory board of six top brass of Tata Tea and Tetley has been put in place for the two companys integration. The two companies will look into the broad strategies and policies associated with the integration process.

Tata Tea vice-chairman R K Krishna Kumar has been made chairman of the supervisory board. Others include Tata Tea managing director Homi Khusrokhan, Tata Tea deputy MD Percy Siganporia, Tetley group CEO Ken Pringle and Tetley groups John Nicholas and Peter Unsworth.

A recent meeting of senior officials of both the companies identified areas of complementary strengths.
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IFCI in talks with LIC for strategic pact
New Delhi: The Industrial Finance Corporation of India (IFCI) has initiated talks with the Life Insurance Corporation (LIC) for a strategic alliance.

LIC may substantially increase its stake in the financial institution from the existing level of around 8 per cent and route a part of its premium income through IFCI for further investments.

As per Insurance Regulatory and Development Authority (IRDA) guidelines, LIC can acquire up to 20 per cent stake in IFCI.

IFCI had earlier approached LIC to raise Rs 2,500 crore in long-term loans. But the plan was put on hold because LIC had already reached the exposure cap.
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Nabard sanctions Rs 1,037cr for rural infrastructure
Mumbai: Nabard has sanctioned loans totalling Rs 1,037.14 crore under the Rural Insfrastructure Development Fund to 16 states.

Nabard's project sanctioning committee approved these loans for various projects pertaining to flood rescue centres cum primary schools and power sector in West Bengal, rural drinking water schemes in Andhra Pradesh and Mizoram, secondary schools in Tamil Nadu and rural market yards in Kerala.
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Computer Science to set up devp centres
Mumbai: Computer Science Corporation is planning to set up two more development centers in India.

CSC, with revenues of $11bn and 68,000 employees, is the second largest company after EDS.

The company has acquired a development center at Indore in Madhya Pradesh.

CSC has set up an advanced software technology research and information center to support its development in new technology areas. It has also submitted an application to Foreign Investment Promotion board to increase its investment in the country.
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