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IT's
on a home run, to grow 30%
Mumbai: The growth of India's software, hardware
and software services markets is expected to be the highest
in the world, beating China.
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NRI
deposit inflows touch $1.4 bn
Mumbai: Fund inflows from non-resident Indians
have outstripped total FDI between April and August '03.
Interestingly, even though NRI deposits have gone up substantially,
the non-repatriable portion has declined.
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IFC
to extend $10 million for Supreme petro expansion
New Delhi: Supreme Petrochem Ltd has roped in International
Finance Corporation, Washington to partly fund its $33
million expansion project. IFC is considering an investment
of $10.1 million as a loan to fund the project.
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Tatas
allege Pendse used TFL funds for personal trading
Mumbai: Tata Finance Ltd in it’s civil case
rejoinder has alleged that former TFL managing director
Dilip Pendse along with other accused, used the funds
of TFL to fund their personal trading.
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Order
backlog forces M&M to delay launch of Scorpio Variant
Mumbai: Mahindra & Mahindra has decided to
delay the launch of its Scorpio 2.6 litre model following
the backlog of orders for the two existing diesel variants.
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MUL
repositions WagonR for greater market share
New Delhi: Maruti Udyog (MUL) is repositioning
its multi-purpose vehicle WagonR to further strengthen
its brand and increase its existing market share from
10 per cent. The car has witnessed a huge growth in sales
of around 23 per cent at 17,531 units during April to
October this year.
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Max
(I) plans to set up TPA
New Delhi: Delhi-based Max India proposes to set
up a third party administrator pending its foray into
health insurance. Chairman Analjit Singh told FE last
week that Max would launch a TPA in the next 12 months.
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MUL
looks to reposition Wagon-R as a value
offering
New Delhi: India's largest car maker Maruti has
decided to fight back. Pushed to the wall, it is now launching
a campaign to reposition Wagon-R as the value-for-money
car with the original tall-boy design.
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VSNL
row to cost BSNL Rs 1,100 cr
New Delhi: With the Department of Telecommunications
(DoT) dragging its feet on diverting the international
traffic of Bharat Sanchar Nigam Ltd (BSNL) away from Videsh
Sanchar Nigam Ltd (VSNL), the public sector behemoth is
expected to notch up a revenue loss of over Rs 1,100 crore
on this count this fiscal.
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Infotech
eyes acquisitions
Hyderabad: Infotech Enterprises Ltd, the Hyderabad-based
end-to-end GIS (geographic information systems) application
solutions provider, has maintained that it will continue
to grow at about 40 per cent this year and year-on-year
and is eyeing inorganic growth through strategic acquisitions,
which it had done quite successfully over the years.
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SKW
group mulls fresh investment
New Delhi: SKW Mettalurgie AG, a German company,
is currently in talks with TAI group of Bhutan for setting
up a joint venture project.
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Agro
Tech cost-cutting helps boost Sundrop sales
Mumbai: The strategy adopted by Agro Tech Foods
Ltd (AFTL), a subsidiary of global food major ConAgra,
in cutting down costs so as to contain the price of its
flagship "Sundrop" brand of sunflower oil has
started paying dividends.
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Cos
break new ground in H1, sales rise 43%
Mumbai: Hero Honda, Bajaj Auto, TVS Motor and Yamaha
all rode the bike to success in the first half of this
fiscal, as the growth in motorcycle sales continued to
touch record speeds.
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SAB
to make open offer for 100% in Rochees Breweries
New Delhi: South African liquor major SAB Miller
India’s subsidiary, Mysore Breweries, has acquired
a controlling stake in Rochees Breweries, Rajasthan, which
has a brewing capacity of 1.5m cases a year.
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Hotel
Ashok to use internal funds for recast
New Delhi: The tourism department has decided that
Hotel Ashok, which has been in and out of the privatisation
list, would be renovated with internal resources. The
earlier plan to seek Rs 35 crore from the government for
renovation of the hotel has been dropped, highly-placed
sources in the department said.
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Qutab
to be part of Clarion brand
New delhi: Qutab Hotel is being converted into
a new hospitality brand Clarion by its new owners, Choice
Hospitality (India). The hotel will be a launch vehicle
to mark the presence of the Clarion brand in India in
four star deluxe hotel category.
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Cement
firms hike prices to offset fall in profits
Mumbai: Stung by crumbling profits during the previous
quarter, cement manufacturers are trying to shore up prices
with a vengence.
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