Reliance Energy to raise foreign investment limit
Mumbai: Reliance Energy proposes to increase the limit for foreign investors to 49 per cent of the company's capital. The company will seek shareholder approval for increasing the limit at an extraordinary general meeting to be held on March 22, 2004. The company today informed the stock exchanges about the EGM.
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First waste management complex in Bangalore
Hyderabad: Ramky Group, a leading infrastructure and waste management company operating out of Hyderabad, will build the country's first integrated municipal solid waste management complex in Bangalore City.

The company has also bagged another project to construct a world-class incinerator for industrial wastes in Hyderabad and Mumbai. Work on these projects, each costing about Rs 13 crore is expected to begin in June.

The group has interests in infrastructure, environment, waste management, biomedical wastes, testing and consultancy and pharmaceuticals. It has recently completed the Rs 20-crore Inter State Bus Terminus (ISBT) in Dehradun, Uttaranchal, in a record four months time.
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Varun Shipping: India's largest LPG carrier
Mumbai: Varun Shipping Co Ltd has acquired its fifth LPG carrier, Maharshi Shivatreya. The company is now the owner of India's largest LPG fleet, accounting for 65 per cent of the total LPG tonnage at present operating under the Indian flag. The new vessel has a cargo carrying capacity of 24,050 cubic metres.

The vessel acquisition was partly funded by the company's own resources and partly through long-term loans from Bank of India and Oriental Bank of Commerce. The company is now planning to acquire additional tonnage, especially in the hydrocarbon sector.
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Reliance hikes polyester prices
Mumbai: Reliance Industries Ltd has raised prices of fibre intermediate and polyester products for March 2004. Analysts say the increase is a result of the growing international demand for petrochemicals and improved demand within India for naphtha, raw material for making petrochem products.
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United Phosphorus picks up 20 per cent in Cropserve
Mumbai: United Phosphorus Ltd has acquired 20 per cent stake in Cropserve, a company based in South Africa. Currently Cropserve is marketing various agro chemicals of different companies in Zambia, Zimbabwe, Malawi, Mozambique. United Phosphorus has given notice of this investment to the Bombay Stock Exchange.

The Company has signed an agreement to acquire registration for production of Lenacil and Chloridazon from Agricola for UK, France and Italy. Currently, the market size for these products is about 100 million Euros. These products can be used for sugarbeet, fruits and vegetables.
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Titan to market Tommy Hilfiger watches
Mumbai: GVM International Ltd, a licensee of Tommy Hilfiger Licensing Inc (a wholly-owned subsidiary of Tommy Hilfiger Corporation), has said that it has entered into an exclusive sub-licensing agreement with Titan Industries Ltd to market and distribute Tommy Hilfiger watches in the country.

The collection will be priced between Rs 3,500 and Rs 8,000 and will be available at Tommy Hilfiger flagship stores, Titan showrooms and department stores, and at select `Time Zone' and premium multi-brand watch outlets in early 2004.
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BEL: Poll prospects
Bangalore: With the announcement of the Lok Sabha and Vidhan Sabha elections BEL has bagged orders for supply of electronic voting machines (EVMs) to the Election Commission.
In previous elections also the company had supplied EVMs, but the revenue from this segment has grown over the years. This is attracting a lot of institutional investors into the stock as this business contributes around 10 per cent of the topline. Dealers said the company is also exploring the international market, including the US, for exporting EVMs.
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Arien: TCG Software's launch for India
Bangalore: TCG Software Services has announced the availability of Arien, an integrated operations support system for electricity distribution companies that automates workflows of distribution, collection and revenue management operations.
The application suite enables utilities to work as a team to meet the objectives of timely billing and collection, better revenue management, reduction in commercial and operational losses, and better operational efficiencies.
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IBM's entry-level notebook
Bangalore: IBM India has announced the launch of its entry-level notebook, the IBM ThinkPad R40e, which is priced at Rs 49,990. According to the company the notepad is targeted at small and medium businesses and the home segment. The IBM ThinkPad R40e is a fully configured notebook with optimum memory, hard disk capacity, cache and ready-to-use Windows and a DVD optical drive. The notebook weighs 2.67 kg and is equipped with the latest ThinkVantage technologies, a set of software and hardware tools, at no additional cost.
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