IBM buys out Daksh
Bangalore: International Business Machines Corp (IBM) has announced that it will acquire Daksh eServices, the four-year business process outsourcing (BPO) firm. The maiden acquisition by IBM in India, subject to regulatory approvals, is expected to close in May this year, said a company press release.

Market sources speculate that the size of the deal could be between Rs 700 crore and Rs 800 crore. The Gurgaon-based Daksh is among the largest Indian third-party BPO firms specialising in call-centre activities. It has service delivery centres in Asia, Europe and the Americas, with staff strength of about 6,000. The privately held Daksh was expected to end 2003-2004 with revenues over $62 million.

Investors General Atlantic Partners, Actis (formerly CDC) and Citigroup collectively hold around 65 per cent stake in Daksh, while promoters and senior management hold the remaining equity. The company had raised $29 million in three rounds of funding till now. Daksh's clientele include big names such as Internet retailer Amazon.com and Citimortgage.
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Thinksoft Global and NSE.IT tie up
Mumbai: The Chennai-based Thinksoft Global Services and NSE.IT, Mumbai, have entered into a memorandum of understanding to jointly offer testing services for international securities segment. Stock exchanges and related participants in the securities domain are the target segment for the service offerings to be provided by the joint partnership. The two companies plan to concentrate on developed countries in North America, Western Europe, Japan and Asia Pacific regions. They would focus on stock exchanges, broking firms and investment banking companies in these countries.
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Sam offers you a Mobile Wallet
Hyderabad: C-SAM Inc., a client-based mobile payment solutions provider, has developed the Mobile Wallet. The Mobiile Wallet replicates a physical wallet in a mobile phone, where it builds various features such as credit card, a driving licence and replaces them with a common ID. The founder of C-Sam, Sam Pitroda, said that the company has deployed it with the Sumitomo Bank's electronic payment services in Japan and is in parleys with operators in Scandinavian countries. He also said that the product, patents for which have been filed, would change the way we transact.
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BHEL (R&D) bags Rs 18-cr orders
Hyderabad: The Corporate Research and Development (R&D) of BHEL here has bagged orders worth Rs 18 crore, achieved a turnover of Rs 12 crore, and has consolidated core research capabilities as well as established new Centres of Excellence during the financial year 2003-04.

According to the company, the BHEL (R&D), which spent Rs 85 crore on research, has also filed 18 patents in India and a few in the US. The Centres of Excellence in Simulators, Computational Fluid Dynamics (CFD), Permanent Magnet Machines (PMM), set up with an investment of nearly Rs 10 crore, have all gone into operational mode.
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Hetero Drugs: Congo order for anti-AIDS drug
Hyderabad: The Democratic Republic of Congo has shown interest in sourcing anti-retroviral (ARV) drugs from Hetero Drugs Ltd. The Rs 550-crore company based in Hyderabad specialises in ARV drugs. The Vice-President of Congo, Zahidi Arthur Ngoma, said his government hoped to finalise the details of the partnership with Hetero Drugs once their team visits Congo.

According to the company the company had already tied-up with Aspen Pharma Care, a South Africa-based leader in generics, for the supply of ARV drugs. The company has already consolidated its presence in Latin American countries such as Brazil, Argentina, Chile, Peru, Uruguay, Cuba, North American countries such as Columbia, Mexico and Asian countries such as Thailand, Bangladesh and Iran.
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Bharti Tele raises $100 m through FCCBs
New Delhi: Bharti Televentures Ltd has announced that it had raised $100 million in foreign currency convertible bonds (FCCBs) from global markets for its expansion plans. It said the conversion price works out at Rs 232, reflecting a 40 per cent premium on Wednesday's closing price of Rs 166.55 on the Bombay Stock Exchange.
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Anchor Electrical takes over Rider
New Delhi: Mumbai based electrical accessories manufacturer Anchor Electrical and Electronics Ltd has announced that it has taken over `Rider', a company that makes electrical regulators and dimmers. Anchor is the leading manufacturer of switches, miniature circuit breakers and other electrical accessories.
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Kuoni Travel acquires Resnet
New Delhi: Kuoni Travel Group, India, the country's largest travel conglomerate, has acquired Resnet from Traveljini, an ICICI Venture company, as part of its expansion plan. In 1996, it acquired SOTC, India's leading tour operator, and followed that acquisition with that of SITA World Travel.
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Rallis and EI Dupont will co-market insectides
Mumbai: Rallis India Ltd and EI Dupont India Private Ltd have entered into an agreement to co-market one of each other's products. While Rallis will co-market Dupont's insecticide Indoxacarb, Dupont in turn will co-market its insecticide Acetamiprid. These insecticides are used on cotton crop to control bollworm and white fly.
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HM launches Lancer Invex
Hyderabad: Hindustan Motors has announced that the company expects to increase its sales by about 50 per cent with the launch of the 1.8 litre Lancer Invex. The company has recently launched other models including the economy 1.5 litre versions. The company said that it had sold about 3,000 Lancers last year and expects to market about 4,500 cars this year backed by its new offerings Invex and the economy range of models. The 1834 cc gasoline engine powered car is priced at Rs 8.95-lakh ex-showroom. The company also expects to garner sales of 150 Pajeros, its high-end sports utility vehicle (SUV).
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Ashok Leyland has record vehicle sales
Chennai: Ashok Leyland has reported all-time high sales of 48,648 vehicles for the year 2003-04. This is 33.5 per cent more than last year's 36,445 vehicles. In 2003-04, the company produced 49,148 vehicles compared to 33,646 in the previous year.
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Royal Challenge: Sales cross one million cases
Bangalore: Royal Challenge has become the first premium whisky to clock one-million-case sales in a year. Royal Challenge has accounted for more than 65 per cent of the 1.5 million case premium whisky segment of Indian Made Foreign Liquor (IMFL) industry, Shaw Wallace & Co, have said in a press release.
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Shades to open in Hyderabad
Hyderabad: "SHADES", a brand of Shades Enterprises Pvt Ltd (SEPL), plans to set up a retail network of showrooms for the sale of eyewear and optical products in metros, mini metros and in 10-lakh plus populated cities. According to a company press release, Shades will open its first showroom in Hyderabad and its first kiosk in Pune in a week's time. It will set up showrooms in Mumbai, Delhi, Bangalore and Chennai in the next six months.
SEPL is a business venture set up by film stars, Sunil Shetty, Sanjay Dutt and film producers Nitin Manmohan and Sohail Maklai.
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Try Vanilla Coke
New Delhi: Coca-Cola India has announced the launch of `Vanilla Coke', the first new flavour extension of the Coca-Cola brand in India. Vanilla Coke, which is Coca-Cola spiked with vanilla flavour, was launched in the US in May 2002. The product will in the first phase be launched in 500 ml PET bottles priced at Rs 15, followed by 200 ml/300 ml glass bottles and cans. Coca Cola has spent $100 million on expanding production capacity over the last two years.
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