TCS in IT and engineering services deal with Ferrari
New Delhi: TCS has announced that it has bagged a "multi-million dollar" deal from Scuderia Ferrari for providing IT and engineering services for development of Formula 1 racing car for the next racing season beginning March 2005.

"The deal makes TCS the first Indian company to enter the F1 stadium alongside the most famous occupant of this global arena. It is a multi-year multi-million dollar contract, but we cannot reveal the exact size of the deal. TCS will be involved in design elements of the engine, which powers Ferrari. We will also provide a number of IT services," said N. Chandrasekharan, Executive Vice-President, announced at a news conference. In addition, TCS solutions will also be part of the racing car's popular cousin, the Ferrari sports car.

The F1 car is among the most complex and advanced car platforms in the market, packing research in aerodynamics, engine technology, brakes, tyres and modelling, to name just a few.

TCS would not disclose the size of the three-year contract, but S. Ramadorai, CEO and Managing Direcor, told newspersons: "This is no ordinary achievement. A multiyear contract is a very sizeable contract. Any contract which is for more than one year is a strategic one."

TCS's experience in real-time information services and end-to-end engineering and IT services stood it in good stead in getting the deal, said company officials. This is the first time that Ferrari is awarding a contract to an Indian systems integration company, said Ramadorai.
Back to News Review index page  

Ambani family asks Mukesh for 'appropriate details' of ownership settlement
Mumbai: In the ongoing tussle for control of the Rs90,000 crore Reliance empire, the Ambani family has asked RIL chairman Mukesh Ambani to furnish "appropriate details" of the ownership issues, which he claimed were settled by family patriarch Dhirubhai during his lifetime. Over the weekend, as per published reports, the "Ambani family", including mother Kokilaben and sisters Dipti and Neena have requested Mukesh to furnish appropriate details as per his statement on November 22.

"My remarks (on ownership issues) were torn out of context. Dhirubhai Ambani has settled all ownership issues pertaining to Reliance within his lifetime," he had said in a statement."It is necessary to remove the confusion caused by deliberate misinterpretation or genuine misunderstanding," he had said in that statement.

According to reports, the "family's" view was that if Dhirubhai had settled all the "above" issues in his lifetime, the members would abide by his decision.
Back to News Review index page  

Reliance Energy forms leadership council
Mumbai: Reliance Energy Ltd. has said that it has formed an `Executive Leadership Council' comprising eight members and chaired by the Chairman and Managing Director, Anil Ambani. Interestingly, five of the council members are among the six directors who had resigned on November 25 within days of a public spat between the Ambani brothers over ownership of group companies.

The members who have been nominated are Satish Seth, Executive Vice-Chairman, S.C. Gupta, J.P. Chalasani, K.H. Mankad and Amitabh Jhunjhunwala, R.K. Aggarwal, Lalit Jalan and Subodh Seth. The first five are the directors who had earlier resigned from the board.

A company release said here that the leadership council will work as an open, evolving forum, which will provide a continuity of leadership and strengthen organisation learning. "The establishment of the council will bring Reliance Energy in line with the best international corporate practices," it said. The release did not give any details on the operational role of the Executive Leadership Council.
Back to News Review index page  

Skoda launches upgrade scheme with Signature
Hyderabad: Skoda Auto India, a group company of the German automotive major, Volkswagen AG, has rolled out an innovative branded upgrade programme christened Signature. It plans to launch a range of cars in 2005 entering new segment categories and make Indian operations its regional hub.

Accordinfg to Skoda Auto India officials the company expects to grow its overall sales by about 50 to 55 per cent next year, riding on the launch of new models in segments where they are currently not present. These include a `C' segment sedan Skoda Fabia, `D' plus segment Octavia II built on a bigger platform and the launch of a diesel variant of the high-end Skoda Superb, which is currently selling about 35 units a month.

The company said that it has sold 16,000 cars in the last three years and the launch of Skoda Signature would enable a Skoda car owner to upgrade to another car. In case a consumer plans to exchange, the dealer will purchase the car and the amount could thereby be used for down payment for the upgraded model.

Referring to new models, officials said that Fabia would be first off the block in India and cater to a new C segment category. This would be followed by the launch of Octavia II in the middle of next year followed by the launch of a luxury segment diesel variant of Skoda Superb. The company manufacturing base at Aurangabad has a capacity to produce 15,000 cars in two shifts.
Back to News Review index page  
Tata Coffee sells stake in Barista
New Delhi: Tata Coffee is selling its entire 34.31 per cent stake in Barista Coffee Company Ltd to Sterling Infotech Group.

In April this year, Sterling Group had paid Rs30 crore to acquire the entire 65.45 per cent stake of Turner Morrison in Barista Coffee while Tata Coffee had asserted it would continue with its 34.31 per cent stake, acquired in 2001 for Rs26 crore.

Barista currently operates around 130 retail outlets.
Back to News Review index page  

Cobra beer to restart production
New Delhi: The UK-based Cobra Beer Ltd will re-start commercial production of its Cobra brand of beer this week in Rajasthan. Karan F Bilimoria, the Chief Executive Officer of the company, who recently got the 'Businessman of the Year Award' in London, said that he wants to create a super premium category in the beer market.

Cobra beer is priced at around Rs100 per bottle of 650 ml, but with the commercial production in India the price will come down to around Rs60-70.
Back to News Review index page  

Tata Motors Nov sales up 24 per cent
Mumbai: Tata Motors has reported a 24.4 per cent rise in its vehicle sales during November 2004 at 31,428 units as against 25,255 sold during the same month last fiscal.

While domestic commercial vehicle sales during the month rose 24.9 per cent at 15,774 units as against 12,626 during November 2003, the passenger vehicles segment has recorded a growth of 22 per cent in November sales at 13,089 units over a year-ago period.

Tata Motors' exports during the month stood at 2,565 units as against 1,904 units in November 2003.
Back to News Review index page  
Kingfisher to sign deal with Airbus for 14 A-320s
New Delhi: UB Group's Kingfisher Airlines, which is scheduled to launch domestic operations from April next, would sign a deal with European aircraft manufacturer Airbus Industries for supply of 14 aircraft in Mumbai on December 18.

"The deal on the purchase of 14 A-320s has been finalised and will be signed on December 18 in Mumbai," UB Group chief Vijay Mallya said on the sidelines of the India Economic Summit.

Maintaining that the first two aircraft would be delivered in April next, he said the induction of a total of 18 aircraft, including four on lease, would be financed through external commercial borrowings. All the aircraft would be inducted by December 2005.
Back to News Review index page