SAIL contract for BHEL
New Delhi: Bharat Heavy Electricals Ltd (BHEL) has bagged a Rs 94-crore contract from Steel Authority of India Ltd (SAIL) to set up a compressor package unit for the SAIL's Rourkela steel plant. The contract includes design, manufacture, testing and supply of nitrogen compressor, drive motor and associated auxiliaries. BHEL had earlier supplied two air compressors for SAIL's plants at Rourkela and Bhilai.
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Century Plyboards diversify's product range
Chennai: Century Plyboards (India) Ltd is diversifying its product range to offer Century Mica, a decorative laminate. According to a company release, Century Mica is a high-pressure laminate that comes with a seven-year guarantee against manufacturing defects. It is resistant to abrasion, scratches, stains and heat, and is available in a wide range. Century Mica Maxpower is 1.5 mm thick and Century Colourmax 1 mm. Based in Kolkata, Century Plyboard is a leader in plywood and decorative veneers. It has set up a manufacturing facility for laminates at a cost of Rs 26 crore with a capacity to produce 2,00,000 sheets a month.
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Tata Power to raise $500 m overseas
Mumbai: Tata Power Company Ltd proposes to raise $ 500 million in overseas market. The funds will be used to meet capital expenditure for its various on-going projects. These include the 330 MW hydropower project in Uttaranchal, the 120 MW project in Jojobera and other power projects. It may also use part of the fund to retire its existing high cost debt of over Rs 2,000 crore.
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LG India to invest Rs 1,000 crore
New Delhi: LG Electronics India Pvt Ltd (LGEIL), the Indian subsidiary of Korean consumer electronics major LG Electronics is targeting a turnover of Rs 15,000 crore by 2007 and proposes to close the current calendar year with a turnover of Rs 7,000 crore.
LGEIL, which celebrated its seventh anniversary on May 12 also plans to pump in around Rs 1,000 crore in domestic operations in the next three years. The company has said that almost 50 per cent of the investment will be in various expansion projects and the rest in new product launches.

The company has also announced cricketer Yuvraj Singh as the brand ambassador for its premium range of products to begin with GSM mobile phones. The company proposes to become a key player in the mobile market, which it entered in late 2003. For January-April 2004 vis-à-vis January-April 2003, the company achieved a growth of 38 per cent in the consumer electronics segment, 51 per cent in home appliances and 69 per cent in IT business. LGEIL has clocked a 53 per cent growth in sales in the period, to record a sales turnover of over Rs 1,000 crore. The company has recorded a 119 per cent volume growth in the flat TV segment during the period, 61 per cent in refrigerators, 21 per cent in washing machines, 45 per cent in microwaves and 75 per cent in air conditioners.
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Shaw Wallace net profit jumps 166 per cent
Bangalore: During the financial year 2003-04, the revenues of the liquor business of Shaw Wallace & Co Ltd have increased by more than 20 per cent to Rs 1,014 crore from Rs 840 crore in the previous year and the net profit has jumped 166 per cent to Rs 46.18 crore from Rs 17.62 crore, the company has said.

According to the release, Royal Challenge has become India's first millionaire premium whisky brand despite tough competition from domestic and multinational companies. Royal Challenge is Shaw Wallace's sixth brand to enter the hall of fame as a millionaire brand.
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Virtusa to invest $12m in Indian operations
Chennai: Virtusa Inc, a US-based software firm, will invest $10 million to $12 million (Rs 45 crore to Rs 60 crore) in the next 12 months in Chennai. Globally the company planned to increase the number of its employees to about 2,800 by the year-end. Virtusa now has about 1,900 employees working in technology centres in the US, Sri Lanka and in India (Chennai and Hyderabad). Of the 1,900 employees, 1,200 are in India. The company focuses on advanced information technology services by working with independent software vendors and global firms from financial services, telecommunications, retail and manufacturing.
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MphasiS to increase share capital
Bangalore: Shareholders of MphasiS BFL have approved the company's plans to increase its authorised share capital to Rs 100 crore from Rs 40 crore. The shareholders also approved the company's plans to come up with American Depository Receipts and/or Global Depository Receipts issue to raise additional funds to meet its capital expenditure and working capital requirements. All the resolutions, including the bonus issue of 1:1, were approved by the shareholders at the EGM.
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Wipro buys more space at Pune
Pune: Wipro has acquired 50 acres of land at the Rajiv Gandhi Infotech Park at Hinjewadi near Pune. Wipro already has a 25-acre campus in the first phase of the Hinjewadi IT park developed by MIDC (Maharashtra Industrial Development Corporation).
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GIL opts for Four Soft
Hyderabad: Four Soft Ltd has been chosen by the Global Institute of Logistics (GIL) for excellence for its logistics solutions, a fully Web-based software for supply chain management.
The company's 4S's e-Supply is a Web-centric integrated enterprise application product for the logistics industry.
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Intransa launches India operations
Bangalore: Intransa Inc, a provider of internet protocol storage products, has announced the launch of its full-scale operations in India. It has opened a liaison office in Bangalore to oversee sales, marketing and customer support activities and has also set up a development centre in Pune.

The company has tied up with SES Technologies as distributor and Tata Elxsi as system integrator for its products. The company plans to invest about $1 million in the Indian development centre, which plans to hire some 20 engineers this year.
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Himatsingka Seide to open more furnishing stores
Hyderabad: Himatsingka Seide, a leading manufacturer of silk and silk-blended fabrics, will be opening nine more furnishing stores under its retail brand 'Ambassador' in the next three months, taking the total to 15. The outlets will open in cities such as Kolkata, Chandigarh, Pune, Kochi, Noida, Ahmedabad and north Mumbai. Besides, the company would look at shopping malls in smaller places with sizeable potential.

Part of the Rs 165-crore Himatsingka group, the retail venture is expected to contribute Rs 75 crore to Rs 100 crore in the next five years. A 100 per cent EoU (export-oriented unit), Himatsingka group showed interest in the retail business as the domestic consumers were willing to pay a premium provided they got value for money. The company, which sources all its products in-house, plans to manufacture bed linen and non-silk upholstery for both Indian and export markets.
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Kinetic launches 'Zing' variant
Bangalore: Kinetic Motor has launched feature-rich 'Zing 80' scooterette at nearly Rs 5,000 lesser than similar models from other competitors. The company plans to sell around 60,000 of these scooterettes during the current fiscal. Kinetic Motor plans to spend around Rs 5 crore towards the launch of Kinetic Zing. The price of the new Zing is around Rs 28,800 on road in Bangalore.
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