Maruti to launch 'Swift' next year
Ahmedabad: Maruti Udyog Ltd (MUL) will launch Swift, it's new hatch back for the Indian market, next year to compete with Fiat's Palio and the recently launched Hyundai Getz.

According to the company, the new car would be fitted with a 1.3 litre engine and would be launched in financial year 2005-06.

The company has logged a 19 per cent growth in sales in the first half of the current fiscal, exhibiting all round growth with all models from the Maruti stable picking up in sales. Maruti's market share accordingly has gone up from 53 per cent to 54 per cent.

Though Maruti's focus was still on small cars, its two offerings in the 'C' segment - Baleno and Esteem - had seen a dramatic rise in sales in the last three months. From 200-300 units of Baleno, post localisation and a new variant launch, Maruti is selling nearly 800 units now. Similarly, after the new Esteem was launched, sales have jumped three-fold from about 800 units a month and the company has been forced to ramp up production to clear backlog.
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Ranbaxy withdraws rofecoxib formulations
New Delhi: Ranbaxy Laboratories Ltd has decided to discontinue all its rofecoxib formulations with immediate effect from India.

The company will also discontinue marketing rofecoxib formulations in Peru, Myanmar, and Jordan, where it has a small market share.

In a statement issued by it, Ranbaxy has also advised that all patients who are currently taking Ranbaxy's rofecoxib formulations should consult their physicians for alternative medications.

The withdrawal of the drug by the company comes on the heels of a decision by the Ministry of Health to impose a total ban on sale of rofecoxib - the generic version of Merck's Vioxx with immediate effect.

This decision was subsequent to the US-based Merck recalling its arthritis drug Vioxx, from the market after it discovered that prolonged usage of the drug caused serious side effects such as heart attacks and strokes.
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DoT issues notice to Reliance Infocomm on illegal routing of calls
New Delhi: The Department of Telecom (DoT) has said that Reliance Infocomm has been found to be violating licence norms by routing international long-distance calls illegally into the country.

Senior DoT officials said that a penalty of Rs50 crore per licence is likely to be imposed on the company.

According to DoT officials, they have issued a notice to the company, which can only happen in case of violations of license conditionalities. Reliance has been given time till October 20 to clarify their stance. DoT can impose a maximum penalty of up to Rs 50 crore per licence.

The company has been found to be illegally routing calls in more than 40 cities across six circles.

BSNL had blown the whistle against Reliance for transmitting international calls into India like local calls. It has also served notice to the company seeking compensation for the illegal routing. BSNL had served disconnection notice to Reliance in Chennai, Mumbai and Pune. Company officials said that Reliance was routing international long-distance calls into the country and terminating on the company's fixed-line network as if they were local calls, in order to escape payment of the access deficit charges to BSNL.

So, for every call that Reliance terminates on BSNL's network, the company pays a charge. The charge payable to BSNL is as high as Rs 4.80 per minute for ILD calls and around 40 paise for local calls.
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LG to invest $100 million in its Pune plant
Kolkata: LG Electronics India Pvt Ltd. has decided to invest $100 million at its Pune plant for setting up capacities for manufacturing mobile handsets.

According to the company, the growth in the domestic IT and telecom sector would augur well for sales of LG's IT and telecom products. To begin with, mobile handsets would be assembled at the Pune plant. At a later date, handsets would be manufactured there as well.

According to the company, in the years ahead 60 per cent of the company's revenues would be accounted for by sales of IT and telecom products with consumer electronics and home appliances accounting for the rest.

In the ongoing festival season, customers would get gifts on every purchase of LG product. These gifts include projections televisions, wireless home theatres, washing machines, microwave ovens, T-shirts and bags.
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Avestha ties up with Godrej Industries
Mumbai: Avestha Gengraine Technologies Pvt Ltd, a biotech research company has announced a strategic tie-up with two investors towards furthering its R&D efforts. One of them is Godrej Industries Ltd.

As part of the restructuring, Nadir Godrej, Managing Director, Godrej Industries, has been appointed to the board of directors while Khushroo Rustumji, Chairman, Taneja Aerospace, exits from the board.
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Ford launches 'Anniversary' edition of Ikon
Chennai: Ford India expects to sell 27,000 vehicles increasing its domestic sales by 40 per cent in the current year. In addition, the company would export some 24,000 cars (in knocked down condition), roughly the same level as last year.

The company is celebrating its 5th anniversary. In the five years, the company has sold 1.9 lakh Ford Ikons. Of this, one lakh Ikons were exported as kits.

To occasionalise its 5th anniversary, the company has launched the 'Anniversary' version of Ikon, which has high-end version features at low-end prices. The special limited edition of Anniversary will be available at a 'celebratory price of Rs 5 lakh'. The company was able to offer more features for same price because of growing indigenisation and increase in volumes.

Ford cars made in India have 90 per cent of their components from India. The company has just started a second shift to be able to work out higher volumes.
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