Tata Consultancy implements PKI solution for CDSL
Hyderabad: Tata Consultancy Services-Certifying Authority has announced the implementation of its managed PKI (public key infrastructure) services at Central Depository Services (India) Ltd (CDSL). With this launch, CDSL has joined the TCS-CA Trust Network for operating as a Registration Authority (RA) for TCS-CA.
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Mitsubishi working on new car for India
Bangalore: Mitsubishi is planning to launch a new car in the executive segment, which would be at a much higher range than the Lancer car which is in the mid-size segment. The company says that it will take nine to 12 months for the new car to hit the roads.
Hindustan Motors makes Lancer cars in India under a technical tie up with Mitsubishi.
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BHEL bags ONGC equipment contract
New Delhi: In the face of stiff competition from American, Japanese, Russian, Chinese and Romanian manufacturers Bharat Heavy Electricals Ltd (BHEL) has bagged the single largest contract from the Oil and Natural Gas Corporation (ONGC) for the supply of wellhead assemblies, christmas tree valves and gate valves, critical equipment used in the field of oil exploration.
ONGC's projected off take of this vital equipment from BHEL is estimated at about Rs 160 crore for the next three years.
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CCPLs plant to produce water from sewage
Chennai: The Chennai Petroleum Corporation Ltd has set up a demonstration plant designed to treat municipal sewage and produce one million litres of water a day. The plant, has been set up at a cost of Rs 60 lakh.
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ABB to sell its control valve unit
Bangalore: The board of ABB India Ltd, the local arm of the Swiss-Swedish engineering major ABB Ltd, has approved a proposal to sell the company's control valve unit, according to its statement to the Bombay Stock Exchange. The local control valve business, that employs 47 people, reported revenue of Rs 6 crore in the last financial year ending December 2003.
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ACC pact for stake buy
Mumbai: ACC has informed the stock exchanges that it has reached a non-binding agreement with UTI Mutual Fund to buy out its 13.3 per cent shareholding in Bargarh Cement (formerly Idcol Cement) for a total consideration of Rs 26.85 crore.
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DBS expands network
Chennai: DBS Office Business Centers has opened its offices in Hyderabad and Kolkata investing around Rs 6 crore in each of these centres. According to the company it is looking forward to making a profit of around Rs 2 crore on a turnover of Rs 8 crore for the coming year .
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Matrix Labs gets USFDA approval
Hyderabad: Matrix Laboratories Ltd (MLL), the Hyderabad-based active pharmaceutical ingredients (APIs) major, has received the United States Food and Drug Administration (USFDA) approval for its manufacturing facility located at Jeedimetla near here.

The Jeedimetla facility is the second unit to obtain FDA approval after Pashamylaram near here. MLL has been exporting products manufactured at Pashamylaram facility to the US market.Matrix Labs said it has invested about Rs 40 crore at another unit located at Kazipally near here to make the facility USFDA compliant. The company expects this facility to be commissioned in a month's time and go for USFDA inspection during the next fiscal.
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Infosys completes five years on Nasdaq
Bangalore: Infosys Technologies Ltd, on Thursday became the first Indian-registered company to complete five years as publicly traded company on Nasdaq. Infosys today has a market capitalisation of more than $12 billion, an increase of $9 billion from $3 billion at the time of listing on Nasdaq in 1999, the release said.
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Proalgen Biotech ready for IPO
Chennai: Proalgen Biotech, which makes carotenoids from algae, is to shortly come out with a public issue of equity shares to raise Rs 15.40 crore in order to expand its manufacturing capacity. The shares are proposed to be listed on the BSE and NSE.
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Nicholas Piramal: Profits to take a hit
Mumbai: Mumbai-Based pharma major Nicholas Piramal India Ltd has said that its annual profit would be lower by Rs 50 lakh due to the price cut on certain drugs and formulations effected by the Government earlier this month.

NPIL informed the BSE that products in the company's portfolio that were expected to take the hit, following the said notifications, include drug intermediates Vitamin A Palmitate, Vitamin A Acetate and Dry Vitamin A Acetate 500; Vitamin A chewable tablets Aerovit and psychiatric drug Mazetol (Carbamazepine).
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LG: Rs 7,000-cr turnover for 2004
Kolkata: Unveiling a new promotion scheme designed for the current India-Pakistan cricket series, Mr Kim said that LG was hopeful of generating total revenue of Rs 7,000 crore in 2004.
For the year ended December 2003, LG Electronics India had generated revenues of Rs 4,500 crore.
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Satyam to provide SAP support for Nestle
Hyderabad: Satyam Computer Services Ltd has bagged a contract from Nestlé, for providing SAP application support for Nestle's GLOBE Business Excellence Programme and to enhance performance and operational efficiency. Satyam will provide custom development in the application development area of the project using SAP and other development tools.
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MBT buys IP rights for Marconi design solution
Pune: Mahindra British Telecom (MBT), telecommunication software and services provider, has acquired the Intellectual Property Rights (IPR) for the optical planning and design solution that formed part of Marconi's Netscient Software product suite.
According to an official release, under the terms of the deal, MBT would be responsible for the development and maintenance of the software and would integrate it into MBT's portfolio of services.
MBT would manage the existing customer base and provide support to Marconi, which would continue to use the software for in-house purposes.
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