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BHEL bags
Rs 50 cr order from Kazaksthan
New Delhi:
Bharat Heavy Electricals Limited (BHEL) has bagged a Rs 50-crore
export order from Kazaksthan for manufacture and supply of gas
turbines equipped with generator and auxiliaries.
This is the second major
success achieved by the public sector giant utilising a B2B
portal. BHEL has been utilising major B2B portals in the energy
sector, established by global asset management companies.
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Philips
to produce 6 million CTVs
Kolkata:
Philips India has targeted to manufacture six million colour
televisions in 2002.
Last year the company had produced 5.4 million colour television
sets.
The company started with a 3 per cent market share in the segment
last year and the figure doubled by the end of 2001.
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Daewoo
plans new launches
New Delhi:
Daewoo Motor India is readying to launch new models, beginning
with the refurbished Matiz-2 in May this year.
Daewoo India MD Young Tae Cho is leaving for Seoul for
negotiations with the South Korean management to finalise the
launch schedule of new models here.
Scheduled for roll-out in May, Matiz-2 will have a refined 800cc
engine. This will be followed by the Kalos sedan, which is
expected to replace its existing mid-sizer Cielo.
The Kalos is being planned in 1200, 1400 and 1600cc engine
variants.
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Samsung
India launches new CTVs
New Delhi:
Samsung India Electronics Ltd has launched its new digital ready
flat and projection colour televisions. It will introduce a plasma
television in June this year.
The flat television range called Plano has eight models in
different screen sizes.
The Tantus projection televisions has features like Dolby
Pro-Logic Surround Sound and PC connectivity and come in 43"
and 54" screen sizes respectively.
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Sterlite,
Birlas submit bids for HZL
New Delhi:
Sterlite and A V Birla group company Indo-Gulf have submitted
financial bids for securing control of Hindustan Zinc by buying 26
per cent government stake.
The bids were evaluated at the meeting of the core group of
secretaries on disinvestment and government would take a decision
on selecting the new strategic partner next week.
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Tatas
to hike stake in Voltas
New Delhi:
The Tatas will increase their stake in Voltas from less than 24
per cent to over 26 per cent by the end of March 2002.
The group will consolidate its position in the company and finally
increase its stake beyond 30 per cent in the next couple of
months.
In September 2001, Lok Prakashan, the Ahmedabad-based publisher of
Gujarat Samachar, had increased its stake close to 14 per cent by
acquiring two lakh shares.
The company unveiled a new range of ACs 20 March. Manufactured in
a 50:50 joint venture with the US-based Fedders, Voltas will be
sourcing the Vertis range of ACs from Universal Comfort Products
Pvt Ltd. and retailing under its own brandname.
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M&M
offers VRS
Mumbai:
Mahindra & Mahindra Ltd has decided to announce a voluntary
retirement scheme for its officers.
The scheme will be
applicable to all permanent officers of the company who have
completed 40 years of age or put in a minimum 10 years of service.
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Modern
Foods revival plan okayed
New Delhi:
The Board for Industrial & Financial Reconstruction (BIFR) has
approved the rehabilitation package submitted by Modern Food
Industries (India) Ltd (MFIL).
MFIL was declared a sick
industrial company in terms of Section 3(1)(o) of the Sick
Industrial Companies (Special Provisions) Act, 1985.
In terms of the revival
plan submitted by the company, the Bench noted that MFIL would
start generating profits from the year ending December 2004. The
net worth of the company would become positive in the year ending
December 2007.
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ITC
Info in pact with Sun Micro
Bangalore:
ITC Infotech has entered into an alliance with Sun Microsystems to
set up a Proof of Concept (PoC) centre for solutions on Sun's
iPlanet platform.
It will also set up a
learning centre in Bangalore to train systems integrators on using
the iPlanet platform to deliver infrastructure, portal and
integrations systems.
ITC Infotech has
developed iPlanet-based solutions for Conoco in Germany.
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Tyre
Cord merges with SRF Ltd
New Delhi:
Tyre Cord Fabric Ltd (TCFL), a wholly-owned subsidiary of SRF Ltd,
has been merged with the parent company.
As part of the
consideration for transferring the smaller businesses of SRF to
SRFPL, all the shareholders of SRF are to receive one equity share
of Rs 10 each of SRFPL, credited as fully paid-up, for every ten
shares of Rs 10 each of SRF held by them.
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BHEL
develops gas turbine for China
Hyderabad:
Bharat Heavy Electricals Ltd has developed a gas turbine and turbo
generator for a Chinese corporation, which is to be commissioned
at Shenzhen Nanshan Power Corporation, located near the Hong Kong
border.
Following the release of
the gas turbine, exports from BHEL-Hyderabad were projected to
exceed Rs 300 crore in the current year.
This turbine,
manufactured in record four months, operates on heavy fuel oil.
This is for the first time BHEL is supplying such a gas turbine.
The order was bagged by BHEL amidst stiff competition from GE and
Siemens. BHEL has an order for two more such turbines from
Australia, two from Iraq, one from Kazhaksthan.
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Rupa
to foray into formal wear
Mumbai:
The 150-crore hosiery manufacturing company Rupa is planning to
foray into formal shirts.
The company, which has
mainly catered to the mass market, has been steadily increasing
its celebrity-based endorsements for its various brands. After
associating with film personalities such as Govinda (Frontline),
Saif Ali Khan (Bruno), Aishwarya Rai (Softline) and Lisa Ray
(Bruno for her), the company has now decided to rope in new
models.
It has recently appointed
Zulfi Syed, the Gladrags Man of the Year, to stand for its Euro
brand of French-cut briefs. Euro will soon have a TVC apart from
its already running print ads featuring the new model.
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Sprandi
launches sports footwear
Mumbai:
Sprandi International has launched a new range of sports and
leisure footwear called Dome.
The shoes are available
in leather and synthetic uppers combined with rubber and phylon
soles. Priced between Rs 900 and Rs 2,300, Sprandi shoes are
available in all the major cities including Mumbai, Pune,
Bangalore, New Delhi, Hyderabad, Ahmedabad and Kolkata.
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Pepe's
new collection
Chennai:
Pepe Jeans has launched a new `Denim Breeze' collection which is
made of polydenim fabric. The fabric is reportedly lighter than
the normal denim fabric.
The collection is
available at Shopper's Stop, Globus and other leading retail
outlets. The price for the denim trousers ranges from Rs 1,099 to
Rs 1,299.
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LIC
to discontinue children's policy
Mumbai:
Life Insurance Corporation of India (LIC) is terminating its
Children's Money Back Policy from the end of the month.
The children's plan,
which assured returns of Rs 80 per Rs 1,000 would be discontinued
after 31 March. The scheme would be re-launched later in a
different form.
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Concor
launches ICD at Jamshedpur
Kolkata:
The Container Corporation of India (Concor) has launched a new
inland container depot at Jamshedpur to facilitate rail movement
of both domestic and international traffic to-and-from the steel
city.
With this, the number of
ICDs owned and operated by Concor in the eastern region goes up to
three, the two others being located at Amingaon (Guwahati) and
Cossipore (Kolkata).
Concor's Jamshedpur ICD
has a total area of about 11 acres.
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Birla
Sun Life increases capital by Rs 30 cr
Mumbai:
Birla Sun Life Insurance has augmented its capital to Rs 150 crore
from Rs 120 crore. The additional capital of Rs 30 crore has been
infused by the joint venture partners the Aditya Birla group and
Sun Life Financial.
The fresh capital will be
used to increase the pace of growth on national distribution and
new products infrastructure. Birla Sun Life currently has 12
branches in nine cities and is expected to double this in the next
fiscal.
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ITC to
enter packed flour biz
New Delhi:
ITC is preparing to launch its own atta in April.
ITC is also entering the wheat handling and trading sector, with a
maiden target of 100,000-tonne procurement this season.
ITC has leased a 100 tonnes-per-day state-of-the-art flour milling
plant in Delhi for producing atta for the northern India market.
The company has also undertaken a market survey of grocery
retailers in Delhi and surrounding areas to get a better
understanding of the market.
The company has set up 30 ITC e-chaupals for wheat farmers in
Uttar Pradesh, through which they expect to eventually undertake
both direct procurement and trading.
ITC has set up similar e-chaupal for soyabeans in Madhya Pradesh,
coffee and marine foods in the south.
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IL&FS
to merge 3 subsidiaries
Mumbai:
Infrastructure Leasing & Financial Services has decided to
merge its three subsidiaries Investsmart, DebtonNet and
IL&FS Merchant Bank.
Investsmart was promoted as a web-enabled equity brokerage for
retail investors. It has a net worth of around Rs 40-45 crore. It
has 21 full-fledged branch offices across 11 cities including
Mumbai, Chennai, Pune, Bangalore, Delhi and Kolkata.
DebtonNet is a web-based platform for issuers and investors in the
wholesale debt market to buy and sell bonds. The paid up capital
is Rs 5 crore, with IL&FS and the National Stock Exchange
holding 50 per cent each in the joint venture.
IL&FS Merchant Bank is a wholly owned subsidiary of IL&FS.
Its activities merchant banking in fixed income, equity and loan
syndication and placement of money market instruments.
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CavinKare
to take on HLL in soaps
New Delhi:
CavinKare is preparing to enter the fiercely competitive Rs
10,000-crore soap and detergent market.
The company is currently test marketing mid-segment herbal soap
Meera to take on the likes of Medimix and Margo in the southern
markets.
The company is setting up a separate distribution network to focus
exclusively on its new business.
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Cipla
in WHO AIDS drugs supplier list
Mumbai:
The World Health Organisation has included India's Cipla in its
first list of preferred international suppliers of AIDS drugs.
Cipla offers a triple-drug anti-AIDS cocktail for less than $1 a
day to poor patients in Africa.
Other suppliers named by the WHO are GlaxoSmithKline Plc,
Bristol-Myers Squibb, Abbott Laboratories, Roche Holding, French
firm Doms Recordati and the Spanish drugmakers Combino Pharm SL
and Laboratorios Cinfa.
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Ranbaxy
offers low-price AIDS drugs
Mumbai:
Ranbaxy Laboratories has offered to undercut competitors to supply
generic AIDS-control drugs to international charity Medecins Sans
Frontieres.
Ranbaxy's best offer of $295 for the three-drug cocktail undercuts
the $350 per person per year offered to MSF in February 2001 by
Cipla, and is among the lowest in the world.
Cipla and Ranbaxy both supply drugs to a programme to treat 10,000
AIDS patients in Nigeria, the largest programme of its kind in
Africa.
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MUL
to export 16,000 Altos to Europe
New Delhi:
Maruti Udyog will start shipping 16,000 'Alto VX' cars worth about
80 million dollars to Western Europe from this month.
In the first phase, the 1100cc premium small car would be sold in
Switzerland, Netherlands, Ireland, Germany, Belgium, Austria,
Finland and Greece.
The car would also be exported to UK, Italy and France by
July-September this year.
The car would sport additional features like anti-lock braking
system and airbags as per European safety regulations.
The engine capacity and other body specifications would, however,
be the same as that in 'Alto VX' car which is manufactured at
Maruti's plant in Gurgaon.
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Reliance
renews Brazil diesel deal
Singapore:
Reliance Petroleum has renewed a term deal to export diesel to
Brazil's state-run Petrobras for a year starting March-April 2002.
It involved a loose swap agreement, whereby Reliance would sell
diesel to Petrobras and take Brazilian Marlim crude in return.
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ABB
shuts down cable business
Ahmedabad:
Swedish electrical engineering group, Asea Brown Boveri has shut
down its extra high voltage cables business in the country.
ABBs cable business was run through a joint venture company -
Universal Cables, where ABB had a 74 per cent stake.
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Aftek
plans $15-m GDR
Mumbai:
Aftek Infosys is planning to raise $15 million through a global
depository receipt issue. Aftek Infosys will partly utilise these
funds for buying a German software company.
The company is planning to list the GDRs on the Luxemburg Stock
Exchange.
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Agrani
signs turnkey deal with Alcatel
Mumbai:
The Subhash Chandra-promoted Agrani Satellite Services (ASSL) has
entered into a turnkey agreement with Alcatel Space Industries (ASI)
of France to procure a geostationary, C and Ku-band satellite
costing Rs 950 crore.
The deal involves
in-orbit delivery of the satellite and a ground control station
by Alcatel, while Arianespace would offer the launch services.
The satellite is expected
to be launched within the next 18 months and begin commercial
operations by the fourth quarter of 2003.
The main target segment
of satellite users will be telecom service providers and
television broadcasters.
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Honda
Siel wants to import car spare parts
New Delhi:
Honda Siel Cars India has sought the permission of the government
to import spares and vehicle parts which are not manufactured in
India.
These parts will be sold
to the consumers through Hondas franchisee dealerships.
The spares will be
imported based on consumer feedback and the companys experience
in handling such clients.
Honda Siel Cars India has
a manufacturing unit in Greater Noida near Delhi. It manufactures
the Honda City and the Honda Accord.
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