Tata Motors to roll out upgraded Indica
New Delhi: Tata Motors will launch an upgraded version Indica and will also introduce a station wagon version of the Indica. Tata Motors chairman Ratan Tata will launch the new Indica at the Auto Expo here. He will also launch the station wagon version, the second model based on the Indica platform after the Indigo sedan.

Sales of the Indica have been going down sequentially for the past four months. In September, the Indica sold 7,539 units, while in October it sold 7,200 units. November sales stood at 5,989 units and in December sales were again down at 3,554 units. Along with the new Indica and the station wagon, Tata Motors is also displaying a concept, the Indiva, at the Auto Expo 2004.
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Maybach forays into India
New Delhi: The Maybach, with a price-tag of Rs 5 crore, is coming to India. DaimlerChrysler has launched the Maybach, maybe the most luxurious car in the world, in India. At Rs 5 crore, Maybach is the most expensive automobile ever to hit Indian roads. "We will take bookings for the Maybach within the next month," says Hans-Michael Huber, managing director, DaimlerChrysler India Pvt Ltd.

Those who book the car will get it in about six months as DaimlerChrysler is yet to send the Maybach for the homologation process, which is mandatory. The price of the car includes import duties and cost of value additions. Those who spend Rs 5 crore for a Maybach will get a saloon that has a mind-boggling array of features and gadgets, and one that is built to suit their tastes and preferences.
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Maruti plans two more new launches
New Delhi: Maruti Udyog Ltd (MUL) is planning to launch at least two new models this year. Among the cars being considered are the Suzuki Liana, the Ignis, and the Jimny. The company has already commenced customer feedback through clinics at various sale points in the country. The customer feedback is expected to enable the company to take a decision regarding the pricing and positioning for these cars, which may then be launched in the country.

MUL is also actively considering the possibility of bringing in the Suzuki Twin, which is a compact two-seater petrol-cum-electric car. The country's largest passenger car manufacturer is, however, hoping that its future vehicles will be able to leverage its strengths in the small car segment and refocus this capability for the Indian market. This is one of the reasons why it is hoping to get positive feedback about the Suzuki Twin and the Jimny.
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LML to invest Rs 245 crore
New Delhi: LML is planning to invest about Rs 245 crore over the next two years towards expanding capacity for its motorcycles as well as foraying into the gearless scooters segment, says a report. "We are planning to invest Rs 125 crore towards expanding our motorcycle capacity to 600,000 units from the current 200,000 units by 2005. We would also be investing another Rs 120 crore towards launching our gearless scooters in the next two years," says Deepak Singhania, managing director, LML.

The investment will be made through both debt and equity, with 60 per cent coming from debt. LML also said it is hopeful of making profits this year (in the financial year ending September 2004). "The company will see a turnaround this fiscal. We have been able to contain our losses. We are hopeful of getting volumes and improving our topline as we roll out more models in the market," says Singhania.
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HMT to make and sell Trantor's transport tractors
Bangalore: HMT has signed a technology collaboration agreement with Trantor Vehicles Ltd (TVL) to manufacture and sell Trantor's transport-oriented tractors. The agreement, which gives HMT exclusive worldwide rights to produce and sell the vehicle, will help HMT obtain new generation technology, which provides an opportunity to gain leadership in the product.

TVL is a design and development company based in Lancashire in the UK. Trantors are the world's first transport-oriented tractors featuring a range of two- and four-wheel drives with fully suspended axles in 60 and 130 horsepower. In addition to the driver's seat, there are two additional seats in the front and four in the rear. Its multi-purpose design renders Trantors most suitable for use in day-to-day transport, apart from conventional farming operation.
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GAIL gives Rs 227 crore to government
New Delhi: GAIL (India) has presented an interim dividend cheque of Rs 227.80 crore for the financial year 2003-04 to the Indian government. The interim dividend cheque was presented to Minister for Petroleum and Natural Gas Ram Naik by GAIL chairman and managing director Proshanto Banerjee.

It has declared an interim dividend of 40 per cent for the financial year 2003-04, an increase of 10 per cent over the last financial year. It has so far paid the government Rs 1,994.47 crore as dividend. GAIL registered a turnover of Rs 11,775 crore during 2002-03 against Rs 10,553 crore achieved during 2001-02.
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Hero Honda Q3 net rises 33%
New Delhi: Hero Honda has yet again recommended a special interim dividend of 500 per cent or Rs 10 per share on a Rs 2 paid up equity share. The company has reported a 33 per cent growth in net profit to Rs 203 crore for the third quarter ended December 2003, up from Rs 153 crore reported in the corresponding quarter of last year.

Sales volume during the quarter grew by 27 per cent to 5.72 lakh vehicles against 4.52 vehicles sold in the corresponding quarter last year. During the month of December, the company bucked the industry trend by registering a 28 per cent rise in volumes to 1.6 lakh motorcycles. As a result, the company has substantially boosted its market share for the quarter ended December 2003 to 49 per cent.
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Glenmark US division in agreement With KV Pharma
Mumbai: Glenmark Pharmaceuticals Inc USA (Glenmark), a wholly owned subsidiary of Glenmark Pharmaceuticals, has entered into a $80-million product development and marketing license agreement with KV Pharmaceutical Company of the US. Under the agreement, Glenmark will initially develop and license to KV eight generic products for regulatory approval and marketing in the North American markets. The licensed products include both Paragraph III and Paragraph IV Abbreviated New Drug Application (ANDA) filing opportunities.

Glenmark Pharmaceuticals managing director and CEO Glenn Saldanha says: "This is our second venture in the US market after we entered into a marketing arrangement with the Philadelphia based Lannett Company Inc within a year of operation. The deal amount which is in excess of $80 million will help us to grow in the US market. We do not anticipate to make any further investment in that market in the near future."
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