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Reliance
Petro may have to submit fresh mktg plan
New Delhi:
The central government is likely to ask Reliance Petroleum to make
a fresh application for its scheme of marketing petroleum products
on the basis of the new format notified by it earlier this month.
RPL had been seeking permission to sell transport fuels - petrol
and diesel - for the last two years. The government may ask the
company to detail its marketing scheme once again in the
prescribed format specified in the gazette notification of 8 March
2002.
RPL is believed to have proposed entering direct marketing of
petro products by setting up close to 5,900 retail outlets
throughout the country.
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Polaris
pacts with two overseas firms
Chennai:
Polaris Software Lab has entered into strategic partnerships with
two billion-dollar clients.
The company has bagged an order from an un-named large financial
services company in the US with assets of approximately $81
billion. The other major deal the company has struck is with the
Euro 6.7-billion French company Snecma Moteurs.
The US-based company provides investment management, retail and
commercial banking, consumer finance, and investment banking
products and services.
The French company designs, develops, produces and markets engines
and propulsion systems for both air and space applications.
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Gallup
to become research-based consultant
Chennai:
Gallup MBA India Pvt Ltd, the Indian subsidiary of the US-based
Gallup organisation, is re-structuring itself to become a
'research-based consulting' firm.
Gallup India would focus only on three areas in India - customer
loyalty, employee engagement and brand equity studies, involving
brand audit and pricing studies.
In the US, Gallup has
developed an 11-question metric to assess the connection between
company and consumers, called 'CE11'.
CE11 would enable companies to reliably and meaningfully assess
the nature and the strength of the emotional and attitudinal bond
between the customer and a branded product and services.
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Joyco
to launch 'Cloud Nine'
New Delhi: Joyco
India, the wholly owned subsidiary of Spanish confectionery major
Joyco Group, is test marketing a chocolate under the 'Cloud Nine'
brand-name.The product will be launched nationally soon.
Cloud Nine will be manufactured through a new joint venture
company in India between Joyco and its Philippines-based affiliate
Universal Robina.
Joyco at present imports the chocolate brand from the Philippines.
The product was initially launched in Hyderabad and Chennai late
last year. Cloud Nine is now being test marketed in other cities
including Bangalore, Delhi, Kolkata and Ahmedabad.
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IOC
junks talks with BP
New Delhi:
Indian Oil Corporation has abandoned talks with British Petroleum
for jointly handling crude imports and has instead decided to set
up its foreign trade desk in London or Singapore.
IOC will invite proposals from international consultants to set up
the foreign trading arm. The present system of importing crude
through tenders may be replaced with a new strategy with a thrust
on optimising refinery economics.
IOC is also evaluating the possibility of setting up an e-commerce
platform for buying crude oil instead of floating tenders.
An e-commerce portal would help speed up oil procurement and cut
down transaction costs.
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Tata
Teleservices to set up village telephony
New Delhi:
Tata Teleservices plans to set up over 1,000 village public
telephony in Andhra Pradesh by June this year.
The announcement follows the centres threat to cancel private
operators' licences if they failed to meet their rural connection
targets.
Tata Teleservices has obtained all the necessary government
clearances to use VSAT technology to link the various VPT's being
planned.
The company is importing necessary VSAT equipment needed to make
the 1,000 VPT's operational well before time.
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BBC,
Discovery extend programming deal
New Delhi:
British Broadcasting Corporaation, BBC Worldwide and Discovery
Communications have extended their global programming alliance by
ten years till 2012.
The new deal would take into effect this year after completion of
an initial five-year agreement, signed in 1997, the companies said
in a joint statement.
The alliance was formed to co-produce real-world programming
content, develop jointly-owned television channels globally and
develop and distribute BBC America, BBC's wholly- owned
entertainment and news channel.
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Sun
expects $1bn revenue from India
Mumbai:
US-based Sun Microsystems expects Indian operations to contribute
a revenue of $1 billion in the next five to six years.
The company has invested $100 million this fiscal so far in India,
mostly for development in the engineering centre.
Sun Microsystems has a wholly-owned subsidiary in India with a
engineering centre in Bangalore, which primarily provides core
competency in support of Sun's engineering operations such as
Solaris operating system and network security.
The company, in partnership with Department of Electronics,
Nasscom and CMC, has also set up a compentency centre for Java in
Hyderabad.
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Pernod
Ricard to hike investments in India
New Delhi:
French wine and spirit major Pernod Ricard is planning to increase
its investments in India to promote the 'Chivas Regal' brand of
scotch whisky.
The company has been investing $8,00,000 annually over the last
two years in India for marketing and distribution.
The company, which currently markets the 12-year old make of the
scotch whisky, is considering launching the more premium 18-year
old variant next year in view of increasing demand in the domestic
market.
The 'Chivas Regal' brand is owned by Pernod Ricard after
acquisition of Seagram worldwide last year.
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HLL
may shut Kissan unit
New Delhi:
Hindustan Lever is considering the closing down of its Kissan
manufacturing unit in Bangalore and offering voluntary retirement
scheme to its employees there.
The company might consider outsourcing Kissan products from third
party manufacturers in case such a decision is taken.
Bangalore facility employs about 400 people and manufactures jams,
sauces and squash.
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Continental
AG ties up with Metro Group
New Delhi:
German tyre manufacturer Continental AG has tied up with Metro
group to set up a hi-tech rubber sports wheel project in India.
Metro Group would invest about Rs 10 crore in the first phase of
the project which would produce two million rubber sports wheels,
widely used in roller skates.
The export turnover in the first year is expected to be Rs 15
crore, which is estimated to go up to Rs 75 crore within next four
years.
Continental AG would buy back the entire production of rubber
sports wheel from Metro for their US and European markets.
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MTNL
to offer VRS
New Delhi:
Mahanagar Telephone Nigam Ltd (MTNL) plans to offer a voluntary
retirement scheme (VRS) to the employees.
It will take at least a
few months before the VRS plan is finalised, approved by the board
and then offered to the employees.
The contours of the VRS
plan will be worked out only after getting inputs from ICRA. MTNL
had roped in ICRA last year to chalk out a human resource
restructuring strategy.
Over 90 per cent of MTNL
employees are in the clerical/support staff category. According to
the latest annual report of the company, MTNL had 60,558 employees
as on 31 March 2001.
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International
Tractors to make jeeps
New Delhi:
International Tractors Ltd (ITL) plans to launch a new
multi-utility vehicle by Diwali.
Renault Automobiles of France will provide the technical
assistance to ITL for this jeep venture. Renault Agriculture, the
tractor arm of Renault Automobiles, has a 20 per cent equity stake
in ITL.
The new vehicle will be powered by a 2-litre Isuzu diesel engine
sourced from Hindustan Motors. ITL is also in talks with local
ancillary manufacturers for sourcing body shells and other
components.
The firm is planning to make both a passenger model as well as a
pick-up version of this jeep.
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AmEx
merges credit card, consumer banking
New Delhi:
American Express Bank has brought its plastic card and consumer
banking business under one roof.
This would enable the bank to leverage its strong consumer card
business in the country to expand its presence in retail banking
services like personal loans, car loans and so on.
The bank has formed partnerships with MTNL and Indian Airlines,
and also has an alliance with HDFC Bank to provide enlarged ATM
services to its customers.
AmEx expects new card subscriptions to grow at 50 per cent and
billing by over 30 per cent in the current year.
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Wipro
in talks to acquire Deloitte unit
Kolkata: Wipro
Ltd is in talks to acquire the consulting arm of the leading
global professional services organisation, Deloitte Touche
Tohmatsu.
Wipro has decided to
compete in the acquisition of the consulting unit of Deloitte
& Touche, which accounted for 35 per cent share of the parents
total US revenue of $6.13 billion in fiscal year 2001.
Deloitte & Touche had
announced that it intends to separate Deloitte Consulting to
enable audit clients to continue to use the talents and skills of
Deloitte Consulting without raising public concern about auditor
independence.
Since Wipro does not have
a consulting arm, the acquisition will certainly benefit to move
up in the value chain in the total business solutions market.
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Ranbaxy
to set up R&D centres in China
New Delhi: Ranbaxy
Laboratories Limited has decided to set up around 25 clinical
research centres across the country, and eight such centres in
China over the next few years.
These centres will help
the company to take up contract research for other pharma
companies.
The clinical research
centres in China will focus on traditional Chinese medicine market
for clinical documentation and will work parallel to clinical
testing for new chemical entities to be developed in future by
Ranbaxy.
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Heritage
Foods to close buyback on 28 March
Hyderabad:
The Heritage Foods (India) Ltd offer to buy back shares from the
open market has evinced poor response from shareholders.
The company could
purchase only about one lakh shares from the public till date as
against the targeted purchase of 14 lakh shares from an estimated
9,284 small shareholders.
The buyback offer which
opened on 24 January was sought to be kept open till 3 January
2003. However, keeping in view the poor response from the
shareholders, the company is now closing the scheme on 28 March
even though it is far short of the targeted figure of acquisition.
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Canadian
firm buys stake in UTV
Mumbai: Canadian
private equity major, CDPQ, has made its first commitment in India
with a $13 million infusion into Ronnie Screwvala promoted
entertainment company United Television (UTV).
While $10 million has
been invested through a fresh issue of equity, about $3 million
from CDPQ has gone towards buying out part of Warburg Pincus
holding in UTV.
CDPQ is a financial
partner for several funds of investment across the world. In
India, CDPQ is an investor in the AMP-IndAsia fund.
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Bathina
Tech may merge with Medical Information
Hyderabad:
Bathina Technologies (India) Ltd., the Hyderabad-based technology
company, is planning to merge with Bathina Medical Information
Services Ltd.
The voice automation
product launched by the company in August 2001, which received
good response from the industry and users, had recently been
certified by the National Software Testing Laboratories.
More features were being
built into to the product covering various professionals -
lawyers, doctors etc.
The company is working
towards developing an enterprise-wide version of the voice
automation product and expects to launch it later this year.
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Discreet
plans new animation software products
Chennai:
Discreet, the developer of visual effects and animation software
such as Flame, Inferno and 3D Studio Max, is all set to launch
several new products in the country.
The company is going to
launch two new animation products in the next few months. One of
the new products is a special 3D animation education pack
developed specially for schools, while the other is likely to be
an entry-level animation product for those who are just getting
into the field.
The company is also
looking at the possibility of launching a student copy of the
software, where a student can buy the software at a very low cost.
Discreet is looking at
entering neighbouring markets such as Sri Lanka and Bangladesh.
The company is also
working with gaming companies to develop this market.
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PII
to take over refinery in Mauritania
Mumbai: Petroleum
India International (PII) is all set to take over the management
of the only refinery in Mauritania in West Africa.
PII is a consortium of
eight state-owned petroleum and engineering related corporations
in India, which includes Bharat Petroleum Corporation Ltd (BPCL),
Hindustan Petroleum Corporation Ltd (HPCL), Engineers India Ltd (EIL),
IBP, Numaligarh Refinery Ltd (NRL), Kochi Refinery Ltd (KRL),
Bongaingon Refinery and Petrochemicals (BRP) and Chenna
Petrochemicals Ltd (CPCL).
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Ernst
& Young to audit online lottery
Chennai: Playwin
Infravet Ltd, part of the Essel group, has roped in Ernst &
Young for vetting its newly launched online lottery programme.
The company is in the
process of commercialising the online lottery programme of
Maharashtra and Karnataka besides hoping to bag the online lottery
to be introduced by the Punjab government shortly.
The international
consultants have been appointed as the complete auditor of
procedures and formalities of the new gaming programme with a view
to providing much more credibility for the process.
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Megabowl
opens centre in Hyderabad
Bangalore:
Megabowl, the games centre and entertainment company, is launching
an entertainment centre with a bowling alley and a food court in
Hyderabad next month. .
The company launched its
first centre in Bangalore, with four bowling alleys, at an
investment of Rs 2.5 crore.
At present the company
has centres in Bangalore, Mangalore, Jaipur, Kolkatta and Kochi.
Megabowl has recently
introduced an indoor cricket game in Bangalore to attract
corporate clients.
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Tata Tea
launches vending machines
Bangalore:
Tata Tea has launched Tetley vending machines at Bangalore
airport.
Five machines have been
installed at the airport, a company release said. This is the
second city after Mumbai to have these vending machines.
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Kuber
Implex signs pact with KNMC
Indore: City-based
trading house, Kuber Implex Limited (KIL), has signed a memorandum
of understanding with Kuwait National Marketing Company (KNMC) for
promotion of bilateral trade and investment between the member
companies.
KNMC, with an equity of
$5 million, is a non-profit organisation aimed to encourage the
trade interest of the member companies in Kuwait.
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Hyundai
plans imports of mini bus, trucks
New Delhi:
Hyundai Motor India is planning to import an entire range of
passenger cars, mini buses, sports utility vehicles and trucks in
completely-built unit form.
In its FIPB application, the company has asked permission to
import passenger cars like the Avante XD/ Elantra, the Tiburon/Coupe/Tuscani,
the Grandeur XG, the Carens and the Getz, all in gasoline engine
options.
The company is looking at 1.6-litre, 1.8-litre and 2-litre
versions of the Avante/Elantra in the Rs 11.5-17 lakh range. The
Tiburon/Coupe/ Tuscani will be available in 1.6-litre, 2-litre and
2.7-litre options in the Rs 12-17 lakh range.
HMILs application also includes the H100 one-tonne truck in 2.5
and 2.6 litre diesel engine options as well as the H100 Grace
van/minibus in 2.4 litre petrol and 2.5 litre and 2.6 litre diesel
options.
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Promoters
hike stake in Jaiprakash Ind
New Delhi:
Jaypee group has finalised a major equity restructuring exercise
under which the promoters are increasing their stake in the group
holding company, Jaiprakash Industries Ltd from the existing 42.19
per cent to close to 47 per cent.
Jaiprakash Industries is increasing its stake in the groups
hotel venture, Jaypee Hotels to a little over 72 per cent from the
current holding level of 13.34 per cent.
Jaiprakash Industries will be making another Rs 86.5 crore
investment in two new subsidiary companies, one in hydro power
sector and the other one in road sector.
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IDBI
aims for $100 m forex loan
Mumbai: The
Industrial Development Bank of India (IDBI) is launching a
roadshow to raise $ 100 million five-year syndicated foreign
currency loan.
IDBI has appointed
Citibank as the lead manager to raise the $100 million in the new
fiscal.
This is the first time
that IDBI is raising a forex loan after announcing its plans for a
reverse merger.
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ITDC
ropes in Estee Lauder, Chanel
New Delhi:
India Tourism Development Corporation has decided to set up
perfume boutiques and exclusive handicraft outlets.
ITDC has roped in Chanel, Estee Lauder, Parmobel and Loreal for
its first perfume boutique in Delhi. Exclusive counters of these
brands would be featured in the boutique.
Efforts are on to bring in other major perfume brands which are
popular in the international market. The first perfume boutique of
ITDC is scheduled to be launched on 10 April.
ITDC plans to set up similar outlets in Mumbai.
Next in line is launch of an exclusive outlet for handicrafts in
collaboration with Central Cottage Emporium.
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Robertet
sets up 100% subsidiary
Mumbai:
Robertet, the French flavours and fragrances multinational, has
set up a wholly owned subsidiary in India.
Robertet recently
identified India and China to augment the groups position in
Asia. Earlier, the company had a presence in India only through a
distribution agent.
The company has set up
three strategic business units raw materials, fragrances and
flavours in the country.
The companys
international clientele include Unilever, Procter & Gamble,
Henkel, Loreal, Reckitt Benckiser among others.
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Ten
Sports to go on air from 1 April
Mumbai: Taj
Television Ltd, a UAE-based television services and content
provider promoted by Abdulrahman Bukhatir, is launching Ten Sports
on 1 April for the Indian subcontinent.
The sports channel will
have, besides cricket from Sharjah, the rights to exclusively
World Wrestling Federation (WWF) telecasts. The other cricket
property with Ten Sports is cricket triangulars from a new venue
in Morocco organised by Taj TV, international cricket from Sri
Lanka, Classic matches involving India and Australias tour of
Zimbabwe.
The channel will start as
a free-to-air service and will go pay later.
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Pepsi
to use Internet for promo
Chennai:
Pepsi Foods India has decided to use the Internet for brand
promotional activities.
With the rapid increase
in the Internet user base in India, the company hopes to tap the
medium more aggressively over the next couple of years.
At present, Pepsi spends
less than 1 per cent of its marketing expenditure on the Internet.
Its traditional platforms are, advertisements, promotions, events
and bazaars.
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Cadila
develops biofertilizers
Ahmedabad:
The tissue culture division of Cadila Pharmaceuticals has
developed two biofertilizers in technical collaboration with the
Indian Council for Agriculture Research and Tata Energy Research
Institute.
The first one is a biofungicide-cum-biofertilizer, which has been
named Kalisena.
Besides having the anti-fungal properties, Kalisena is a natural
phosphate mobiliser. The product has been found to be effective
against diseases like damping off, wilts, and blights.
The second product, developed in collaboration with Tata Energy
Research Institute, has been launched under Josh brand. Josh
increases the water absorbing surface area of the plants.
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Hughes
Tele to invest Rs 500 Cr in WLL
Mumbai: Hughes
Tele.com will invest around Rs 500 crore on its wireless in local
loop with limited mobility project. The WLL service from Hughes is
expected to be offered by the end of the current year in
Maharashtra.
The company already
operates basic services in Maharashtra and Goa.
The WLL service in Mumbai
is currently being offered by Mahanagar Telephone Nigam Limited (MTNL)
under the Garuda brand name.
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Pepsi to
stage live concerts
Chennai:
Pepsi has announced plans to organise a series of live concerts
across the country. The company's summer campaign begins with a
performance of Roger Waters of Pink Floyd fame in Bangalore on 13
April.
This will be followed by
live concerts featuring Ronan Keating and Deep Purple in Hyderabad
and Mumbai respectively in end-April or the first week of May. The
company will also be taking Indipop singer Adnan Sami to various
cities, followed by the Bryan Adams concert in Chennai and Delhi
later during the year.
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Cummins
India unveils VRS
Pune:
Cummins India Ltd (CIL) has announced a voluntary retirement
scheme for its employees and Cummins Diesel Sales and Services
(India) Ltd, its subsidiary.
The schemes will close on
30 March. The company has announced three schemes for associates
and managers.
In the associate
category, it has announced a lumpsum payment of Rs 4 lakh to
employees of two categories (above 55 and below 40 years of age)
and Rs 4.50 lakh for employees of two categories (above 53 to 55
years, and between 40 to 50 years).
An amount of Rs 5 lakh
will be given to employees who are in the age group of 50 to 53
years.
Under the second scheme,
the company would pay a lumpsum depending on the number of years
of service completed multiplied by the month adjusted salary.
In the third scheme, the
employees will get the payment for balance months of service
(monthly adjusted salary x factor).
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