Infosys 2003-04: It's a billion…
Bangalore: Announcing its results for the fiscal 2003-04, software major Infosys Technologies said that its revenues totaled Rs. 4,760.89 crore. With this declaration Infosys crossed the threshold of a billion dollars in revenues. It also marks a rise of 31 per cent, over the previous Rs.3, 622.69 crore, in revenues for 2002-03. The company's net profit of Rs 1,243.83 crore, during fiscal 2003-2004 also marks a jump from Rs 954.77 crore in the previous fiscal.

Infosys also announced three bonus shares for every share held and a special dividend of Rs 100 per share. The special dividend of Rs 100 was over a final dividend of Rs 15 for the last financial year. The special and final dividend payout would be Rs 766.17 crore, which will be funded partly out of its reserves, company officials said. Infosys has said it expects revenues of between Rs 5,990 crore and Rs 6,041 crore during the current fiscal year.
Back to News Review index page  

Infosys to add 10,000 by year end
Bangalore: Infosys Technologies plans to add about 10,000 people during the year. Last fiscal, the company added 9,758 people on net basis taking its overall head count to 25,634. During the June quarter, the company plans to hire close to 2,000 people.
The company also plans to raise its capital expenditure in the current financial year to between Rs 600 crore and Rs 750 crore. The previous year's capital expenditure stood at Rs 430 crore.
Back to News Review index page  

Management course from IIT Kharagpur
Kolkata: The Indian Institute of Technology, Kharagpur (IIT-KGP) has announced the launch of a two-year, part-time programme in business management for working executives. The programme, which is the first of its kind in the IIT system, would be on offer in IIT-KGP's campuses in Kharagpur, Kolkata and Bhubaneswar. The mode of instruction adopted is stated to be "contact-cum-distance mode of instruction and learning". The course fee has been pegged at Rs 1.8 lakh, or Rs 45,000 per semester.
Back to News Review index page  

NDTV IPO price band at Rs 63-70
Mumbai: NDTV is entering the capital market to raise Rs 109 crore through an initial public offer. The IPO will be a combination of fresh issue and dilution of issue through the book-building route and at a price band of Rs 63-70 per share.

According to the company, NDTV 24x7, the English news channel, has been able to emerge as the leader in its category while NDTV India, the Hindi channel, occupies the second slot in its category. Of the Rs 109 crore issue, Rs 9 crore has been reserved for employees of NDTV. NDTV's issue opens on April 21 and closes on April 28.
Back to News Review index page  

Sona Koyo to pay 40 per cent
New Delhi: Sona Koyo Steering Systems Ltd, a leading manufacturer and supplier of steering systems, has recommended dividend at the rate of 40 per cent for the financial year ended March 31, 2004. For the year 2003-04, the company has announced a sales growth of 30.13 per cent to Rs 285 crore from Rs 219 crore in the previous year. The net profit grew by 108.18 per cent to Rs 18.82 crore from Rs 9.04 crore in the period.
Sona has targeted $20 million in exports by the year 2007.
Back to News Review index page  

Kejian and Rajgarhia launch GSM handsets
New Delhi: Chinese mobile handset manufacturer, Kejian, has announced its entry into the Indian market with the launch of four GSM (Global System for Mobile) mobile handsets, including an entry-level model priced at Rs 4,905. The company has entered into an exclusive, long-term and strategic arrangement with the Rajgarhia Group to market and support its mobile phones throughout India and SAARC region.

An interesting feature of the mobile phones is that they come with a life-long warranty against any manufacturing defects. Kejian and Rajgarhia Group are also looking at a joint venture proposal for manufacturing in the future. The company expects to sell 2,50,000 handsets in the first year.
Back to News Review index page  

Aztec turns around in '04
Bangalore: Aztec Software and Technology Services has announced a net profit of Rs 2.18 crore for the year ended March 31, 2004 as compared to net loss of Rs 6.18 crore in the previous year. The company has posted a turnover of Rs 41.40 crore (Rs Rs 43.85 crore).
Back to News Review index page  

Intel in talks with vendors for home PC applications
New Delhi: In its effort to converge different applications on a single, more effective platform, Intel Corp has set up a $200 million `Digital Home Fund' to finance smaller companies to develop new products and applications and is willing to tie up with Indian companies under the scheme. The company has described the growing Indian economy as a "strategic market" for the group, and has said that it was in talks with local vendors like Wipro and Zenith to roll out digital home PCs based on Intel platform. Intel is currently looking for opportunities to work with Indian companies where it would provide funds and technology assistance to develop digital home products.
Back to News Review index page  

Hughes Escorts enters consumer services
New Delhi: Hughes Escorts Communications Ltd (HECL) has announced its foray into the consumer services sector and said that it was targeting revenue of Rs 100 crore over the next three years.
HECL has tied up with Standard Chartered Bank, mobile service provider Hutch, North Delhi Power Ltd and Career Launchers to provide bill payment and education services.

According to the company customers can walk into any of the 5,000 Direcway Fusion centres that would soon be set up in the country and pay in real-time their Hutch bills, make credit card repayments to Standard Chartered Bank as well as pay their monthly electricity bill to NDPL.
Back to News Review index page  

Tops Foods to set up plant in US
New Delhi: Tops Foods, which sells products such as pickles and sauces, is planning to set up a plant in the US. According to the company apart from supplying to Indian restaurants, it would be tying up with retail outlets in the country as well. The plant will come up in Los Angeles.

The company has five plants in Delhi and is also investing about Rs 7-8 crore towards setting up a new plant in Rajasthan. With its range of initiatives in place, Tops is targeting a turnover of about Rs 40 crore in the current fiscal.
Back to News Review index page  

IA launches 'Silver Edge Club'
Hyderabad: Indian Airlines is launching a 'Silver Edge Club' membership for its frequent flyers, beginning April 15. Members of the club will get an upgrade voucher and a special baggage tag along with the new membership kit on enrolment. "Apart from allowing the members to carry an extra baggage of 10 kg on all domestic IA aircraft, barring ATR42 and Dornier aircraft the scheme would allow members to earn an additional 10 per cent of mileage points on the flying that they do with the airlines.
The scheme would be valid up to June 30, 2005.
Back to News Review index page