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ASDC:
TCS buys out SIA
Mumbai: Tata Consultancy Services (TCS) has bought
out its majority partner, Singapore Airlines (SIA), in
the joint venture Aviation Software Development Consultancy
India Ltd (ASDC). Singapore Airlines held a 51 per cent
stake in ASDC. The ASDC is focused on providing consultancy
and solutions to the aviation industry and was set up
in 1996 primarily to provide SIA with specialised skills
for the development and maintenance of airline-related
software applications. The company also provides IT services
and solutions to other airlines and aviation-related companies.
According to an official statement, the acquisition of
ASDC was completed with the purchase of the residual 51
per cent stake from Singapore Airlines through a cash
deal of Rs 14.025 crore.
TCS is a division of Tata Sons.
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Rajasthan: Cairn strikes Oil once
more
New Delhi: Cairn Energy Plc has struck oil for
a second time in its Rajasthan exploration block. Announcing
the discovery Cairn has said that the recoverable resource
was of the order of 20-80 million barrels with `in-place'
reserves of 130-470 million barrels. The discovery should
yield around 0.5 million tonnes per annum of crude oil.
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Ranbaxy
achieves billion dollar sales target
New Delhi: During February, the global sales of
Ranbaxy Laboratories Ltd have touched $1billion (on a
moving annual total basis). According to the company it
is currently pursuing its goal of becoming a $5-billion
company by 2012. The company is selling its products in
over 70 countries and has manufacturing operations in
seven countries. The company plans to launch over 20 products
this year and the main therapeutic areas would be cardiovascular,
anti-infective, gastro-intestinal and the central nervous
system.
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e-Gov:
Microsoft to conduct seminars
New Delhi: Microsoft Corporation India has announced
a series of five e-Governance seminars targeted at bureaucrats
and Government officials.The first seminar in the series
will kick off at Bhopal on the 10th March. According to
Microsoft the seminars targeted at bureaucrats and government
officials, will be conduced across the states of Madhya
Pradesh, Haryana, Rajasthan, Orissa and West Bengal.
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Bombardier
Aerospace bullish on India
New Delhi: Canadian aircraft manufacturer Bombardier
Aerospace hopes to sell more than 100 aircraft in the
20-90-seater category during the next five years. The
company sees a market for sale of "aircraft in excess
of 100" over the next five years, with most of the
demand coming from the private sector. According to the
company Air Sahara already operates their aircraft. Company
officials are touring India as part of an around-the-world
demonstration of their Q-400 aircraft.
The Q-400 aircraft, which can carry 70 passengers in a
single-class configuration, will give airlines the opportunity
of operating non-stop flights not only between Delhi and
Colombo but also between various cities within the country.
Officials claimed that another advantage of the aircraft
was that it could land on "unprepared" runways
as well. Officials said that the aircraft would also be
ideal for airlines charging an average fare of $50 and
operating on routes of up to 250 nautical miles. The aircraft
manufacturer has received firm orders for 103 Q-400 aircraft
and delivered 78 till December 31 last year.
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Tractors:
Same Deutz-Fahr plans new launches
Mumbai: Same Deutz-Fahr India, hopes to sell 4,000
tractors and 6,000 engines in 2004. The company has an
installed capacity of 8,000 tractors and 15,000 diesel
engines. According to the company an export order of 860
engines to Nigeria is on the anvil.
Over the next 6-10 months, the company is planning the
launch of new models in the 35, 40, 45 and 55 hp categories,
including 4WD variants. The company will introduce its
Lamborghini tractors next year. Same Deutz-Fahr India
has aligned with State Bank of India (SBI) to provide
tractor financing at low interest rates
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Orchid
Chemicals to raise funds
Chennai: Orchid Chemicals & Pharmaceuticals
has announced that a governing board meeting scheduled
for next week would consider raising long-term funds through
suitable ways, including warrants to promoters and foreign
bonds. The aim of the warrants would be to ensure the
promoters' holding did not fall below the current level
of 14.44 per cent.
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Polyplex
delists
Mumbai: Polyplex Corporation Ltd has informed the
BSE that pursuant to its application for voluntary delisting
of its equity shares from the Uttar Pradesh Stock Exchange
Ltd and the Ahmedabad Stock Exchange, the equity shares
have been delisted from these exchanges with effect from
March 18 and February 27 respectively.
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Zee
Tele gets nod for fund raising plan
Mumbai: Zee Telefilms Ltd has informed the BSE
that at the company's extra-ordinary general meeting held
on Tuesday, the shareholders have approved a fund raising
proposal by way of issuance of foreign currency convertible
bonds (FCCB) for a sum not exceeding $100 million.
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Amtek
Auto to consider purchase of UK company
New Delhi: Domestic auto ancillaries company, Amtek
Auto Ltd, is considering to buy 100 per cent controlling
stake in the United Kingdom-based GWK group of companies,
which is engaged in the manufacturing of automotive components
and has a turnover exceeding Rs 900 crore. The issue will
be raised at Amtek Auto's board meeting to be held on
March 16. GWK manufactures engine components and drive
trains among other products, and is an OEM supplier to
auto majors such as Ford and General Motors.
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ValueLabs
plans centre in Hyderabad
Hyderabad: Valuelabs, a technology solutions provider,
has announced plans to invest about $7 million in a new
development centre here and grow its team from the current
300 people to about 600 by the year-end. The centre is
to be located adjacent the Oracle centre coming up at
Madhapur near Hitec City.
The project will have the capacity to host about 1,500
people and will be completed within 14 months. The company
is associated with firms such as Tibco, Maxis, Astro,
Citibank, Egypt, and SnapFish among others.The Hyderabad
Software Exporters Association and a jury headed by Ernst
& Young, had adjudged ValueLabs as the Best Indian
Small and Medium E-enterprise for 2003 in the IT sector.
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JP
Mobile in pact with MS
Hyderabad: JP Mobile, has announced its collaboration
with Microsoft on business development, marketing and
product development activities to ensure improvement,
and customer acceptance, of mobility offerings. JP Mobile
is a software provider that manages corporate data on
mobile devices JP Mobile offers a comprehensive server-based
solution called the SureWave Enterprise Server,
which enables secure access to enterprise business applications,
e-mail and the full range of personal information management
(PIM) data on handheld devices, including those utilising
the Windows Mobile platform on Pocket PC devices, phones
and smart phones.
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Software
to prepare DA bills in Kerala
Thiruvananthapuram: A software package that helps
in preparing the dearness allowance bills for government
employees has been launched. Called a `bill generator',
this software comes with several special tools, and is
especially useful for those who are not familiar with
the preparation of dearness allowance bills. The software
is available as a free download on the Web site www.kerala.gov.in/bill.htm.
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Protonweb
plans to double staff strength
Chennai:
The Chennai-based Protonweb Pvt Ltd will double its number
of employees to around 600 by end of June 2004. The company
soon plans to open a 300-seater call centre in Delhi,
a release said.
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Wipro and iPolicy to ally
Bangalore: Wipro Technologies, the global IT services
arm of Wipro Ltd has signed a pact with iPolicy Networks
to resell, deploy and support the ipEnforcer suite of
unified security systems.
The alliance builds on the complimentary strengths of
the two companies by combining the global presence and
execution excellence of Wipro Technologies with iPolicy
Networks' next-generation unified security system, the
company has said in a statement to the Bombay Stock Exchange.
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FCS
launches Impakt
New Delhi: FCS Software solutions Limited on Tuesday
launched `Impakt', a new Learning Management System (LMS)
that the company claims is best suited for the needs of
Indian companies. The package enables an organisation
to customise the training needs of its employees and steer
them towards a better understanding of processes, technology,
product knowledge and performance parameters, a FCS release
said here.
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Fuchs
plans $-2m spend on marketing
Mumbai: Fuchs Lubricants, a wholly-owned subsidiary
of Fuchs Petrolub AG, of Germany plans to invest $2 million
(about Rs 9.05 crore) in its India operations mainly towards
expanding its marketing networks. The company plans to
increase its market share, especially, in niche areas
of specialty lubricants by bringing in many more specialised
products, from the 8,500 strong basket of Fuchs product
worldwide, to India. The company is a registered OEM manufacturer
with Hindustan Motors, Ashok Leyland and Mercedez Benz,
and currently markets automotive lubricants under the
brand names Titan and Silkolene.
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Two
new evening shows on CNBC
Mumbai: In a bid to spruce up the evening band,
CNBC-TV18 is introducing two new shows — Tonight
at 10 and Encounter.
Business@10 is being replaced by Tonight at
10, a current affairs show featuring Karan Thapar
from Monday to Thursday, while feature journalist and
political commentator M.J. Akbar will host Encounter
on Fridays. Tonight at 10 is a news reaction show,
where viewers will witness Mr Thapar in in-depth discussions
with the guests of the day on the latest business, political,
economic and current affairs issues in the country. Encounter
will see M.J. Akbar interview personalities.
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