TCS crosses $1-b revenue mark
Mumbai: Tata Consultancy Services (TCS) on Friday announced that it has crossed the $1-billion revenue mark for 2002-03. The company, however, did not disclose its profit earnings for the year.

"TCS has recorded revenues of Rs 5,012 crore ($1.04 billion) for 2002-03, compared to Rs 4,187 crore last year, a growth of 20 per cent, which is higher than the industry average of 18 per cent. With this, the company becomes the first Indian software company to reach the $1-billion mark in revenue," Mr S. Ramadorai, CEO, told newspersons while announcing the results.
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HLL to transfer vanaspati biz to US co Bunge
Mumbai: Hindustan Lever Ltd (HLL) has found a buyer for its popular vanaspati brand, Dalda.
The company on Friday informed that its edible oils and fats business in India and Nepal, which contributed Rs 388 crore to HLL's topline, is being transferred to the US-based Bunge Ltd for a consideration of around Rs 90 crore.
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HCL Technologies to set up contact centre in Malaysia
New Delhi: Indian BPO companies are now scouting for multi-country presence. Soon after acquiring a contact centre in Ireland, HCL Technologies is now setting up a contact centre in Malaysia.

Besides risk mitigation, the idea is to have multi-language capability as the Indian BPO industry has been focused on English-language contracts. Several other BPO companies including Daksh, Wipro Spectramind and ICICI Infotech are in the process of setting up contact centres in south-east Asia.
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`Wadia, Danone committed to partnership'
Mumbai: The Wadia Group and the Danone Group, joint promoters of Britannia Industries Ltd, said they are "committed and resolute in their partnership in India".

They were responding to various articles in the media suggesting that Groupe Danone and The Wadia Group have relationship issues with respect to their partnership in India.

"These reports are baseless," they said in a joint statement. "It always has been and always will be the focus and aim of both Groupe Danone and The Wadia Group to continuously contribute and jointly strengthen the Britannia business and brand in India in order to create shareholder value. As promoter shareholders, we shall make every assistance available to the professional management at Britannia Industries to deliver enhanced value to the Indian consumer as always," the statement signed by Mr Nusli Wadia, Chairman, The Wadia Group, and Mr Simon Israel, Chairman (Asia Pacific), Groupe Danone.
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BHEL bags Rs 475-cr order from IOC
Hyderabad: BHARAT Heavy Electricals Limited (BHEL), Hyderabad unit secured an order of Rs 475 crore, the single biggest in its history so far for supplying gas turbines and other key components to the Indian Oil Corporation (IOC).

The order is part of the Rs 772 crore order bagged by BHEL industry sector from the IOC for setting up an Integrated Co-generation plant on turn-key basis for its refinery at Panipat in Haryana.
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Indian Rayon buys TransWorks for $13 m
Mumbai: The Aditya Birla Group's flagship company Indian Rayon on Friday announced the acquisition of TransWorks, a business process outsourcing (BPO) company for a total consideration of $13 million.

With this transaction, Indian Rayon has bought out the 80 per cent stake from venture capital firm ChrysCapital and the balance shareholdingrests with the promoters of TranWorks, Mr Rizwan Kotia and Mr Jagdish Moorjani.
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Birla, to hold equity stake in STAR News
Mumbai: Kumar Mangalam Birla seems star-struck. The chairman of the Aditya Birla Group and merchant banker Hemendra Kothari will each hold about 25 per cent equity in the Rupert Murdoch-promoted STAR News.

STAR will hold the largest stake of 26% of the total paid-up capital of Rs 4 crore, while the rest of the equity has been broken up into small holdings distributed to people close to the STAR Group. The restructuring follows the government's decision to limit FDI in news channels to 26%. The company owning the news channel has been christened Media Content and Communications Services.
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Hiranandani plans foray into Noida, Pune
Pune: The Mumbai-based real estate and construction major, Hiranandani Constructions is all set to take their brand of premium housing outside Mumbai-city.

The Managing Director Mr Surendra Hiranandani, said that the company has now decided to set up shop in New Delhi's upscale Noida and Pune city.
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