Tata Motors LCVs for Russia
Mumbai: Tata Motors has received a $3.5-million order to export light commercial vehicles to Russia. According to the company the order is for 400 trucks, which will be exported in the form of truck kits. The kits will then be assembled in Russia.
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TVS Motor: Second interim dividend of 70 per cent
Chennai: The board of directors of TVS Motor Company on Wednesday declared a second interim dividend for the year 2003-04, of 70 paise for each Re 1 share (70 per cent). This takes the total dividend for the year, declared so far, to Rs 1.3 per share, or 130 per cent.

The 65-odd lakh equity shares proposed to be allotted to the public shareholders of Lakshmi Auto Components Ltd, consequent to the amalgamation of Lakshmi Auto with TVS Motor, will rank on par with the existing shares of TVS Motor, says a press release from the company.
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Coke commissions rainwater harvesting project
Hyderabad: Coca-Cola India has commissioned its third and final phase of rainwater harvesting project at the company's bottling plant in Ameenpur in Andhra Pradesh. According to a company press release, the project has been designed to collect all the water that falls on the 11 acres of built up area of the plant.
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Zee Telefilms issues FCCBs for $100 million
Mumbai: Zee Telefilms Ltd has informed the BSE that the company has decided to issue Foreign Currency Convertible Bonds aggregating $100 million in the international market. The issue also includes a greenshoe option of $15 million. The bonds will be listed on the Singapore Stock Exchange.

The bonds will have a tenor of five years and will be convertible into shares at a premium over the current market price. The bonds carry a coupon rate of 0.5 per cent per annum and would be redeemable at a price of 116.24 per cent, if not converted into ordinary shares during the period.
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Strides and Akorn form JV for operations in US
Bangalore: Strides Arcolab Ltd has announced that it was starting a joint venture in Chicago with US pharma company Akorn Inc to enter its products in the US hospital market. The two companies will set up a 50:50 joint venture company within three months.

Strides will develop an exclusive set of products for the US hospital and retail markets including liquid injectables, powder fills, soft gelatine capsules and tablets. The company will file the pre-launch ANDAs (abbreviated new drug applications) in the US through the new entity later this year.
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Flextronics goes for inSilica
Bangalore: Electronics manufacturing services firm Flextronics has said that it has invested $10 million in inSilica Inc, a fabless semiconductor design company, in the second round funding. inSilica designs chips but farms out the actual manufacturing. Flextronics also said that it had expanded its silicon development capabilities by selecting inSilica as its system-on-a-chip development partner.

As part of the tie-up, inSilica will provide its designing services to Flextronics and its OEM (original equipment manufacturer) partners. With this latest funding, the company has raised a total of $20 million till date. inSilica had raised $10 million from NewPath Ventures last year. InSilica has a chip-design centre in Bangalore with nearly 50 engineers. The company, which started last year, has revenues in the range of $10-$15 million.
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PI Corp and Aditi Tech in partnership
Bangalore: PI Corporation, a start-up company aiming at developing next generation software targeted at the Linux environment, has announced its partnership with the Bangalore-based Aditi Technologies for this venture.

The new product, expected to be ready for shipment by next year, will provide a system that will simplify the exercise of storing, retrieving and viewing information on personal computers and other devices. Aditi Technologies, a company with a suite of products for Microsoft and many clients, will help PI in building the core team that will be responsible for the design and development centre in India. Aditi will also extend all infrastructure support to PI Corporation of India.
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HCL: Third interim dividend at 60 per cent
New Delhi: HCL Infosystems Ltd has achieved a "standalone basis" turnover of Rs 424.10 crore and a post-tax profit of Rs 36.30 crore for the quarter ended March 31, 2004. As per its un-audited results, the company reported a turnover of Rs 1,132.50 crore and a profit after tax (PAT) of Rs 91.20 crore for the nine months ended March 31 this year.

Revenue from the computer systems business is Rs 424.1 crore (Rs 339.3 crore). Revenue from the office automation and telecommunication business is Rs 764 crore (Rs 391.4 crore). Continuing the practice of quarterly dividends, the board has declared a third interim dividend of 60 per cent, according to a company release.
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iGate Global opens Hyderabad centre
Hyderabad: iGate Global Solutions, a technology integration and operations management company, has announced the commencement of work from its new development centre in Hyderabad. This expansion is a part of the company move to invest $ 20-25 million and induct about 1,000 people. iGate, is a subsidiary of the $290 million Nasdaq-listed iGate Corporation.
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Patni plans heads for Navi Mumbai
Mumbai: Patni Computer Systems, which claims the sixth position among India's largest software companies, has announced plans for a 17,000-seater software development space in Airoli, in Navi Mumbai.

This is being done to service its long-term expansion plans and when finished the `Patni Knowledge Park' will be the largest of its kind in Mumbai, said a news release from the company. Patni has been allotted 50 acres of land in the Maharashtra Industrial Development Corporation in Airoli.
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Cisco introduces self defending network
Bangalore: CISCO systems introduced its 'self defending network' security strategy for the $41.3-million Indian network market. Targeted at the enterprise and the service provider segments, the strategy will enable the network to autonomously identify, prevent and adapt to a range of security threats.
According to the Frost and Sullivan 2004 Network security market report, India is the fastest growing market in the Asia-Pacific region.
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MTV and Nickelodeon new members for One Alliance
New Delhi: The One Alliance, a distribution joint venture between Sony Entertainment Television (SET), and Discovery Communications, has added music channel, MTV and kids channel, Nickelodeon, to its bouquet of channels.

Alex Kuruvilla, Managing Director, MTV Networks India, Kunal Dasgupta, CEO, SET India Pvt. Ltd and Deepak Shourie, Managing Director, Discovery Communications India signed the agreement today. The addition of MTV and Nickelodeon networks complements the diverse mix of programming choices offered by The One Alliance. At present, the bouquet comprises eight channels - SET, MAX, AXN, HBO, Discovery, Animal Planet, NDTV India and NDTV 24x7.
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