Infosys: Focussed on a global perspective
New Delhi: Infosys Technologies Ltd has said that the company is stepping up efforts to build a multi-cultural, multi-location workforce. The company says that its guidance for the new financial year has specified a 30-31 per cent growth in revenues, with the profits projected to grow at 27 per cent. The company will be focusing on three initiatives for the year - the new consulting arm in the US, the China subsidiary and its banking business unit.
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New management team for HLL
Mumbai: FMCG leader, Hindustan Lever Ltd (HLL), has announced major changes in its management and organisational structure. M.S. Banga, Chairman, HLL, has been appointed as the Business Group President of Unilever's $6-billion home and personal care (HPC) business in Asia. He will, however, continue as non-executive Chairman of HLL. At HLL itself a four-member team headed by M.K. Sharma, Vice-Chairman of the company, will be at the helm of affairs.

The other members of the team are D. Sundaram, Director - Finance & IT, Arun Adhikari, Managing Director - HPC and S. Ravindranath, Managing Director - Foods. Aart Weijburj, Director (Detergents), and Guninder Kapur, Executive Director (Foods), will be joining HLL's parent company. The company's board has approved the new business and management structure, ahead of its next meeting on April 29, scheduled to announce the first quarter results. For the year-ended 2003, HPC contributed Rs 6,734.08 crore to the turnover; Foods contributed Rs 1,692.81 crore and exports Rs 1,246.30 crore.
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Hyundai launches Elantra
New Delhi: Hyundai Motor India has announced the launch of its sedan, Elantra. The car would compete with similar models from the stables of Toyota (Corolla) and General Motors (Chevrolet Optra). While the 1.8-litre, petrol-engine version would be available at a starting price of Rs 8.69 lakh. The 2-litre diesel, CRDi engine is priced at Rs 10.49 lakh. According to Hyundai Motor India, the car would carry a 40 per cent localisation level by the end of the year. Hyundai plans to produce 8,000 units of the car in the first year and would share the assembly line with Sonata.

The Elantra is equipped with safety features such as a brake assist system, electronic break force distribution, traction control system and anti-lock braking system. The company also said that it was planning to commence exports of the compact car Santro in the completely knocked down format to Pakistan by the end of the year. Hyundai has plans to jack up its capacity to 250,000 units by August this year.
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Satyam board meet
Hyderabad: A meeting of the Board of Directors of Satyam Computer Services Ltd is scheduled to be held on April 22 to consider the audited financial results of the company for the quarter and for the year ended March 31. The board will consider the final dividend for the financial year 2003- 2004, the company has informed the BSE.
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Agilent staff strength to triple
New Delhi: Agilent Technologies, which offers test and measurement solutions to the communications, electronics and life sciences sectors, has announced that it would ramp up its strength in India from 900 currently to 2,500 in the next two years.
According to the company the additional manpower will allow Agilent to accelerate research and development and shared services operations in India.
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Maximize India will now be Maxus
Bangalore: Maximize India, a leading advertising and media-network company, has announced its re-launch as Maxus. In India, since Maximize has been operating as an independent brand under the GroupM umbrella, it will now be re-branded as Maxus, said a company release. The agency handles media on a standalone basis for companies like VIP Luggage, Pidilite, Standards Chartered Bank, Seagram, Hutch and Honda. It has recently won new accounts such as Britannia and Titan.
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Anti-diarrhoeal drug from Ind Swift
New Delhi: Ind-Swift Laboratories will be launching an anti-diarrhoeal molecule, Nitazoxanide, for the first time in Asia. The molecule will be available in India within a year of its global launch by the originator. This is the first molecule approved by the FDA in 40 years for Gardia, a parasite that causes diarrhoea. It will be the only drug approved for the treatment of diarrhoea caused by Cryptosporidium parvum in children aged 12 months to 11 years.
Ind-Swift has already received approval from the Indian regulatory authorities.
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Preferential allotment from Samtel
New Delhi: Samtel Color Ltd, one of the largest colour picture tube (CPT) manufacturers in the country, will make preferential allotment of compulsorily partly convertible debentures aggregating to Rs 50 crore and will issue 1.25 million warrants (optionally convertible) to ICICI Ventures.

The compulsorily partly convertible debentures aggregating to Rs 50 crore will carry a coupon of 7 per cent till the date of conversion. This will be converted into 58.82 lakh shares on May 15, 2005, at a price computed, based on the audited results of financial year 2005. ICICI Ventures will hold 14.96 per cent equity stake in Samtel Color, promoter shareholding will be 49.61 per cent, and 35.43 per cent will continue to be held by public shareholders, including institutional, corporate, and individual investors.
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Varun ShippingL: 214 per cent jump in profits
Mumbai: Varun Shipping Co Ltd has clocked a 214 per cent increase in net profit of Rs. 35.8-crore during 2003-04. The company's turnover has risen from Rs. 236.7 crore to Rs. 294.4 crore. The company, which owns about 65 per cent of the country's LPG tonnage, has also announced a dividend of 16 per cent for last fiscal, against 12 per cent in the previous year.

The company has also said that an investment programme, envisaging an outlay of $ 250 million, for the acquisition of modern tonnage in the hydrocarbon sector has been drawn up by the company. The investment plan will be implemented in three phases during the next 12 to 18 months. The company's new tonnage addition will include gas carriers, product tankers, chemical carriers and offshore exploration vessels. At present, the company has a fleet of 13 ships, including five LPG carriers and five petroleum products/easy chemicals carriers.
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LG Care now enters the FMCG market
Hyderabad: LG Care, belonging to the LG group of Korea, has entered the Indian FMCG market by launching eight categories of consumer products here. The products launched include toothpastes, shampoos, soaps, detergents, diapers, cleaners and cosmetics. According to the IHHL, the LG Care products will be available in all cities and towns with a population of over 1 lakh in the country by July.
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