Honda to launch hatchback car
New Delhi: Honda Motor Company of Japan is planning to launch a new 1,000cc car.
The company is also developing an entry-level mid-sized world car to be produced in India.

The premium hatchback car market, known as the B-segment, has been the fastest growing category over the past 3 years.

Honda is developing a new world car, to be positioned against the Ford Ikon, Maruti Esteem and Hyundai Accent.

Honda is also contemplating to introduce sports-utility vehicle CRV in India.

Honda Siel Cars India has already earmarked an investment of Rs 200 crore over the next three years for product upgradation and new launches.
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Andersen in talks with E&Y, Deloitte
Mumbai: Andersen India has started negotiations with Ernst & Young (E&Y) and Deloitte Touche and Tomatsu for a possible merger.

Anderson India, which operates four businesses consulting, audit, taxation and corporate finance has 36 partners and 750 employees managing 200 clients.

Andersen India operates under two outfits Arthur Andersen Pvt Ltd engaged in business consulting and corporate finance and Arthur Anderson & Co and Associates undertaking audit and taxation.

Deloitte, Touche and Tomatsu operates under four entities CC Choksey, SB Billimoria, PC Hansotia and Fraser & Ross. It is mainly engaged in the taxation and audit business.
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Cognizant teams up with GM
Bangalore: Cognizant Technology Solutions has become the offshore outsourcer for eGM, the e-business arm of General Motors and Vauxhall for a significant range of their e-business development services.

Cognizant's Bangalore facility with about 175 people will be a major contributor to this project. Currently, Cognizant has around 75 software professionals working for GM and its companies worldwide out of their Bangalore development center.

The company is building an online portal MyGMLink Online that allows registered GM vehicle owners to track warranty, recall and service information online. It is also building and managing the GM Card Online, a portal that provides GM Card holders with a personalized experience.
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Reliance to focus to HPCL
New Delhi: The Reliance group, which was eyeing BPCL as a potential buy, has shifted its focus to HPCL.

This is primarily because it already has a refinery at Jamnagar, which is on the west coast, and BPCL, unlike HPCL cannot offer any refinery capacity on the east coast.

Buying HPCL would provide the Reliance group with a refinery in Mumbai and Vizag.
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Pallonji group to foray into transaction process biz
Mumbai: The Shapoorji Pallonji group is planning a foray into the transaction processing business.

The group intends setting up a back-office processing facility on a 240-acre property it owns in Hadapsar, a suburb in Pune.

The facility will undertake the entire gamut of processing services including medical transcription, HR and payroll processing, accounting services.
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Cincom to acquire 90% in Flex Foods
Mumbai: Cincom Systems is acquiring 90 per cent stake in Delhi-based Flex Foods.

According to the deal, Flex Foods, a BSE listed company, would issue 112.5-million equity shares of Rs 10 each on a preferential basis to Cincom Systems Mauritius, a 100 per cent subsidiary of the US company.

Following the takeover, the company's name will be changed to Flex Infotech & Communications.
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Hero Honda to launch Dawn
Mumbai: Hero Honda planning to launch a new motorcycle under the brand name Dawn.

The company plans to discontinue the Joy motorcycle and repackage or relaunch it with a new brand name called the Dawn.

The 100 cc bike will have a few cosmetic changes and priced around Rs 35,000.
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RINL posts Rs 4,077 cr sales
Visakhapatnam: Rashtriya Ispat Nigam - operated Vizag Steel Plant has posted sales of Rs 4,077 crore in the last financial year.

VSP reduced its net loss to Rs 120 crore in 2001-02 from Rs 777 crore in 1998-99. VSP also posted a cash profit of Rs 153 crore and Rs 339 crore in the past two years.

Vizag Steel sells over 45 per cent in southern markets including Andhra Pradesh, Karnataka, Tamil Nadu and Kerala.
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JMMF to get its portfolio valued on a daily basis
Kolkata: JM Mutual Fund has finalised arrangement with credit rating agency Crisil to get the portfolio of its various schemes valued by it. The asset management company is all set to sign up Crisils wholly owned subsidiary Crisil.com to get the portfolios valued on a daily basis.

The move is in sync with the AMCs decision to become more transparent and give investors a fair idea of the value of stocks in which their respective schemes have invested.
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Taj Group close to buying Regent
Mumbai: Indian Hotels Company, which manages the Taj Group of Hotels, is close to picking up a 25-30 per cent equity stake in Enjay Hotels, which owns The Regent.

The 508-room hotel is said to be valued at Rs 500 crore.

The Taj Group is funding the 25-30 per cent equity stake in The Regent from the Rs 370 crore debt it raised last month.
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Tatas to tie up with Cargill
Mumbai: The Tata group is all set to tie up with the US-based agro major Cargill. The tie-up would mainly entail wheat procurement for Cargill in India through the two Tata group promoted Rallis Kisan Kendras (RKK) and Tata Kisan Kendras (TKK).

Cargill might directly distribute the procured wheat from India through its distribution channels or it could process and manufacture finished products out of the procured wheat.

Cargill, USA provides distinctive customer solutions in supply chain management, food applications and health and management, with an annual turnover of nearly $560 mn.
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Microsoft eyes home devices
Mumbai: Microsoft is working on a set of protocols titled Universal Plug and Play that will allow devices at home such as the TV, digital camera, microwave, refrigerator, audio systems, DVD systems, VCR, etc to interact with each other.

This forum is part of Microsofts Windows eHome division.

The Windows eHome Division is developing new technologies along with leading consumer PC manufacturers and partnering with other Microsoft groups, which would allow one to listen to an Internet radio station or an album just downloaded from an online music store on your home stereo.

The forum consists of more than 460 vendors, including industry leaders in consumer electronics, computing, home automation, home security, appliances, printing, photography, computer networking, and mobile products.
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Agilent to outsource back-end ops to Indian subsidiary
New Delhi: Agilent Technologies of US has decided to outsource its internal back-end financial processing as well as its worldwide Intranet development and maintanence operations to its Indian subsidiary located at Gurgaon.

The Indian subsidiary, Agilent Technologies International, will ramp up its strength to around 500 employees within the next one year and has plans to increase it further in the next few years.

Agilent International will also be involved in the development of software products that are either embedded in or supplied with the companys technology equipment in areas of communication, electronics and life sciences.
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Coke signs pact with Harry Potter films
Mumbai: Coca-Cola India has tied up with Harry Potter films to launch a host of promotions in Mumbai, Delhi, Bangalore, Pune, Ahmedabad, Kolkata, Hyderabad, Chennai, Trivandrum and Cochin.

The promotion aims to build on the impact the film is meant to create, and bring it closer to the lives of consumers by offering them a once in a lifetime chance to go on a Hogwarts Castle adventure trip to the UK.

Coca-Cola has also designed a trip to England to bring consumers closer to the Harry Potter magic. The activity has been built around a special Harry Potter and the Sorcerers Stone branded multi-pack, carrying four bottles of 500 ml.
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Palnar to launch FormsRec
Thiruvananthapuram: Palnar Transmedia has joined hands with All For One Systemhaus AG of Germany to introduce the latter's high-end data capturing and processing application, FormsRec, in India.

This application can scan, read, process, validate and export data from thousands of structured, semi-structured or even unstructured documents on a daily basis. FormsRec is used worldwide by the insurance, banking, manufacturing and mail order companies.

The high recognition rate, not just for machine print but for handwriting as well, is based on methods using approximate values and probability calculation instead of the rigid yes/ no method.
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Pallonji to sell 49% in United Motors
Mumbai: The Shapoorji Pallonji group, which owns 98 per cent in the Rs 200-crore United Motors, one of Telcos largest distributors, has decided to offload a 49 per cent stake.

In 2000, the Shapoorji Pallonji group had made an open offer at Rs 140 per share and delisted United Motors from the bourses.
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Godrej Agrovet to set up edible oil plant in AP
Mumbai: Godrej Agrovet is foraying into the branded edible oil business by setting up a manufacturing facility for red palmoil in Andhra Pradesh.

The new venture is a part of Godrej Agrovets oil palm plantation business, which supplies crude palm oil to a variety of clients, including vanaspati manufacturers.

The red palmoil facility, which will incur an investment of Rs 4.5 crore, will start functioning next year.
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Marubeni to pick up stake in India Charge Chrome
Bhubaneswar: Japanese trading major Marubeni Corporation has shown keen interest in picking up a strategic stake in India Charge Chrome (ICCL).

Marubenis decision to invest in ICCL, however, depends on the passing of a rehabilitation proposal submitted by the company to IDBI.

The rehabilitation package submitted in August 2000 mainly seeks to restructure the debt liability of the company in a bid to turnaround its financial performance. The company owes over Rs 450 crore to IDBI.
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McDowell plans promos for Celebration rum
Kolkata: McDowell India is looking at expanding the consumer base of its mid-segment rum brand Celebration.

The company is looking at fresh promotions of the brand in the media to bolster sales, apart from taking up a direct marketing initiative, by taking the product to the consumer via shops.
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Sahara to invest $30 million to buy 24 aircraft
New Delhi: Air Sahara has decided to expand its fleet of aircraft from the existing 10 by adding another two dozen aeroplanes over the next few months at a cost of $30 million.

A dozen Bombardier aircraft will be deployed on regional routes, while the larger aircraft would concentrate on metro routes. The airline has received approval to induct the 50-seater aircraft in its fleet.

At present, Air Sahara has a fleet of 10 Boeing 737, of which nine are on dry lease. In addition, the airline also has four helicopters, which are all owned by the airline. Last year, the airline had added five Boeings to its fleet.
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Welcom Heritage plans to buy 15 properties
New Delhi: Welcom Heritage a division of ITC Hotels which operates palaces, havelis, forts and resorts is planning to add at least 15 more properties to its portfolio.

The company has recently acquired two properties at Pushkar in Rajasthan on a franchisee management and operation basis.

The division is also considering Gujarat, Himachal Pradesh and Goa as possible destinations.

Considering the heritage potential of the states, it is also interested in expanding to southern states including Kerala and Tamil Nadu.
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