REL to bid for coal-based project in UP
Mumbai: Reliance Energy Ltd. has said that it would bid for setting up a 1,000-MW coal-based power project in Uttar Pradesh.

The board of directors of REL, which has already committed itself to building the 3,740-MW gas-based Dadri project in the State, has approved equity investments of Rs1,500 crore in the Anpara `C' project, a company statement said. The debt-to-equity ratio for the company is expected to be 70:30.

"The power produced at Anpara will be sold to distribution companies undergoing privatisation currently, by way of a long-term power purchase agreement. The project is likely to be structured in a manner that makes it eligible for fiscal benefits under the Government of India's Mega Power Project Policy," the release said.

Reliance Energy, had earlier announced its decision to bid for five electricity distribution companies, in Meerut, Agra, Lucknow, Varanasi and Kanpur, up for sale through a government-initiated international bidding process.

The total generation capacity at Anpara will be around 2,630 MW, including the existing 1,400 MW.
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Reliance Info responds to DoT penalty notice
New Delhi: Reliance Infocomm has contested the penalty imposed by the Department of Telecom for alleged violation of the international long-distance licence conditions.

The company has sent its reply to the DoT notice pleading compliance to all licence norms.

The DoT had sent a notice last week indicating a penalty of Rs150 crore on Reliance for violating licence conditions by routing ILD calls as if they were local calls. In a nine-page reply, Reliance has said that the penalty was unfair since the ILD calls in question were being routed through a service called home country direct service, which is recognised both by the DoT and the International Telecommunication Union (ITU). Reliance has said that the nature of call routing in home country direct service is such that the caller line identification (CLI) would show it as a local number despite it being an ILD call.

Senior DoT officials said that they were studying the letter from Reliance and a decision on the penalty will be taken soon.
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$500-m cap on FII investments in corporate debt
Mumbai: The sudden surge in trading in commercial paper and corporate bonds over the past couple of days, has prompted the Finance Ministry to put a ceiling of $500 million on investments by foreign institutional investors (FII) in corporate debt.

"It has been further clarified by the Ministry of Finance that a cumulative sub-ceiling of the $500 million outstanding would be fixed on FII investments in corporate debt and this would be over and above the sub-ceiling of $1.75 billion for the Government debt under the overall ECB ceiling," a circular from the FII and Custodial Division of the Securities and Exchange Board of India said on Thursday.

The Ministry had only on Monday said that the overall ceiling of $1.75 billion on the FII investment in Government bonds and treasury bills did not apply to corporate debt; virtually allowing unlimited investment in corporate bonds and commercial paper (CP).

This triggered a frenzy of buying in commercial papers on Tuesday and Wednesday, which may have been in anticipation of the FII demand. In the corporate bond market, debt maturing in about a year such as SBI 2006, BPCL 2006, PFC 2006, and Grasim 2006 was in good demand. In the CP market, GE Finance and Citicorp Finance were favourites.
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Railway booking through RIM
Hyderabad: Reliance Infocomm, in association with the Indian Railway Catering and Tourism Corporation Ltd (IRCTC), has launched Railway Ticket Booking service through Reliance India Mobile (RIM) in 120 cities across all 28 states and union territories of India.

This facility will be available even on black and white handsets, which effectively enables a higher proportion of RIM customers to avail this unique service.

The ticket can be paid for through any credit card - Master, Visa, Diners or Amex - and also have it delivered at the doorstep. For existing IRCTC registered users, the same User ID and Password can be used.
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BSNL's fixed line user base down by 3.2 million
New Delhi: BSNL has lost 3.2 million fixed line subscribers in 2003-04. The state-owned company had lost 1.7 million subscribers the previous year. Another 1.7 million consumers are waiting to get new connections from the state-owned Telecom Company, as of March 31, 2004.

BSNL, which has been dominating the domestic telecom sector, has been consistently losing out on market share over the last two years.

For MTNL there is no waiting list as telephones are being provided on demand. Switchover from fixed line to mobile services and migration to other operators as well as surrender of additional telephone lines are the reasons behind disconnection of landline telephone connections.
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Encore to open up the source code for the simputer
Bangalore: Encore Software, the creators of the Encore Simputer, has now decided to open the source code of all applications and tools that it has developed for the Simputer. Additionally, the company will make public the complete hardware design for the handheld device.

Ambitiously positioned as the PC for the common man, the Simputer has managed to sell a mere 2,000 units since its introduction to the Indian market.

Simply put, the decision to go open source is "because we need all the help we can get and going open source will help us to develop, test and support the applications that customers ask us to deploy on the Simputer," company officials said.

According to Vinay Deshpande, Founder, Chairman and CEO, Encore Software, the decision to open the source code would lead to development of numerous innovative applications in areas such as micro-banking, utilities, point-of-sales applications, bus-ticketing and e-governance. The company plans to make available online the source code and tools related to the Simputer on www.encoresimputers.com.
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Talisma launches NetAgent 6.6
Bangalore: Talisma has announced the launch of the NetAgent 6.6, a comprehensive multi-channel interaction management solution for contact centres.

NetAgent 6.6 makes it easier for contact center and customer service agents to provide exceptional customer service. Its key enhancements include a version of NetAgent Chat that allows agents to proactively engage Web site visitors, based on unique criteria, using real-time text messaging. It also enables agents to assist customers with form completion and provides the ability to `push' Web pages to potential customers while co-browsing, said a company press release.
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Reliance Infocomm to invest Rs.300 crore in Karnataka
Bangalore: Reliance Infocomm has said that it would invest Rs300 crore to expand its network to 253 new towns in Karnataka.

Reliance Infocomm has said that over the next 100 days, the network would be expanded at the rate of two towns per day. Reliance would also set up its sales and service network including WebWorld Express outlets, sub-distributors, retailers and other channels to ensure seamless service. Reliance has also launched a new surfing package for Internet users. For heavy users, the package is worth Rs650 per month.

Reliance currently has a subscriber base of 6.12 lakh and is the second largest in Karnataka.
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Radico targets Rs.1,000 crore turnover for the fiscal
Hyderabad: Radico Khaitan Ltd has targeted a turnover of Rs1,000 crore in the current fiscal as against Rs724 crore last year.

The company, which has launched the Old Admiral Whisky in the southern markets last year, is now planning to expand the brand across the country. The company has taken Bollywood star, Katrina Kaif, as the face for its advertising campaign for the Old Admiral brand.
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Royal Enfield launches Bullet 500
Chennai: Royal Enfield, an Eicher group company, has launched the new Bullet 500 for the domestic market. The motor cycle comes with an electric starter.

According to the company, the Bullet 500 is aimed at the riding enthusiast. While offering the traditional Bullet feel, the machine comes with upgraded features including disc brake, gas-filled shock absorbers and a completely new driveline. The electrical system has also been upgraded with a heavy-duty alternator. These are now more in line with the requirements for a higher-powered bike.

It also comes with the conventional four-speed gearbox, and is priced at Rs85,694.

For the younger generation, the 500-cc Thunderbird is in the pipeline, and is likely to be launched in two months.
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Ford Endeavour Hurricane launched in Chennai
Chennai: Ford India said that it was launching the Ford Endeavour Hurricane, a variant of its sports utility vehicle, at an ex-showroom price of Rs14.57 lakh in Chennai, in a 4x2 version.

According to a Ford India press release, the Ford Endeavour with Hurricane Gear has front bumper jaws over-rider and body side cladding in silver, augmenting its road presence. Stylish hurricane graphics add to the distinctive look. Roof rack tray and rear ladder are a part of the gear to complement the adventurous side. The release said that customer feedback suggested a preference for greater vehicle personalisation.

With the new variant, the company is able to offer its customers an opportunity to personalise the vehicle with special adventurous gear adding to the imposing, tough profile of the sports utility vehicle. It will be available only in one special colour - Octane.
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