HLL hikes prices of detergents
Mumbai: FMCG major, Hindustan Lever Limited (HLL) has hiked the prices of its detergents by four to seven per cent.

While the price of 'Surf Excel Quick Wash' one-kilogram pack has been increased to Rs103 from Rs99 (4.04 per cent), that of a 500 gm pack has gone up to Rs53 from Rs50, HLL said in a release today. The 20 gram sachet has been left untouched as its prices were increased to Rs2 last year, it said.

The prices of 'Surf Excel Blue' 1.5 kg pack has been hiked to Rs103 from Rs99 and 750 gm to Rs53 from Rs50 (six per cent). The prices of 'Rin Advanced Powder' is increased by around 7.14 per cent to Rs45 per pack from Rs42 and that of 500 gm pack would now be priced at Rs23, up from the earlier price of Rs22 per pack. The products with new prices would be in the market in next few days as the earlier stocks get over, it said.
Back to News Review index page  

Audi dealer facility to open in Bangalore
Bangalore: The German luxury carmaker Audi is planning to open a dealer facility in Bangalore soon. Audi would also be opening dealerships in Mumbai and Delhi, which have bigger markets for its luxury cars. The two metropolises would have their distribution facility by next month, said a company release.

The dealerships will include both sales and after sales facilities. Audi's three direct dealers in India are Euromotors in Delhi; Island City Motors in Mumbai; and Jubilant Enpro in Bangalore. Audi will also be transferring responsibility for its business in India to its worldwide headquarters in Ingolstadt, Germany. The market was previously managed from Audi's Asia Pacific regional office in Singapore.
Back to News Review index page  
Frito-Lay's Bengal plant goes on stream
Kolkata: Frito-Lay India, an associate company of the $27-billion Pepsico Group, has started production from its newly built plant at the Sankrail Food Park in Howrah district of West Bengal.

The Rs80-crore plant has started with two product lines, Lays and Kurkure. The company, which makes Lays potato chips, Kurkure, Cheetos Fun Snacks, Uncle Chipps and Lehar Namkeen, has plans to make an additional investment of about Rs35 crore at the Sankrail plant to add more product lines depending on the demand.

The company has plans to buy about 30,000 tonnes of potato from West Bengal by 2007. Frito-Lay India has so far invested about Rs250 crore in the country, and has garnered 10 per cent share of the country's Rs2,500-crore salty snacks market.
Back to News Review index page  
ABB crosses half a billion dollars in earnings
Bangalore: ABB India, is set to join the select band of companies to hit the $1-billion earnings soon. The company has already crossed the half-a-billion dollar mark with its current year's (January-December 2004) earnings crossing $501 million (Rs2,305.60) crore.

The company says that in the last three years, it has achieved significant growth. If the trend continues, it could achieve the $1-billion mark soon. ABB's business in China had touched the $2-billion mark. With the objective of becoming a significant player in both domestic and export market, ABB India would be strengthening its R&D centre in Bangalore.
Back to News Review index page  
Russia's AFK Sistema to buy 49 per cent stake in Aircel
New Delhi/Chennai: AFK Sistema, a Russian company, has signed a non-binding deal to acquire a 49 per cent stake in Aircel, a cellular service provider now offering services in Chennai and Tamil Nadu circles, for $450 million (about Rs1,960 crore). The Russian company has an option to increase its stake to 51 per cent.

It may be recalled that Sterling Infotech Ltd, which owns Aircel Cellular Ltd and Aircel Ltd (the two companies providing the services in Chennai and Tamil Nadu circles), signed an agreement in June 2004 to sell the two companies to Hutchison Essar in a deal estimated to be valued at Rs1,600 crore. Both Sterling and Hutchison expected regulatory approvals within 45 days.

However, that has not happened yet and though both companies have not officially called off the deal, Sterling Infotech says that the time period of the exclusivity agreement with Hutchison has expired.

The deal with the Russian company is subject to regulatory approvals. AFK Sistema is one of Russia's largest non-natural resources company. It possesses and manages a diversified investment portfolio that includes Mobile TeleSystems, Russia's largest mobile operator, and MGTS, Moscow's fixed line monopoly.
Back to News Review index page  
HCL Tech and Compuware tie-up
New Delhi: HCL Technologies Ltd has announced a partnership with Compuware Corporation, which provides software and services that enable businesses to manage their enterprises and maximise the value of their IT assets.

As part of this deal, Compuware would be able to provide consulting services, particularly in the application performance management (APM) arena in India and the Asian region.

The partnership grants HCL Technologies rights to Compuware's STROBE suite of APM tools as implementer and reseller in the Asian region, a company release said here.
Back to News Review index page  
Nasscom: IT revenues at $28 billion
Mumbai: The Indian IT industry is expected to register a growth of 31 per cent to reach revenues of $28.2 billion in the financial year 2004-05, according to a Nasscom analysis.

The industry had registered a growth of 34 per cent in the previous fiscal, clocking revenues of $21.5 billion.

Indian software and services exports are likely to witness a growth of 35 per cent to reach revenues of $17.3 billion in the current fiscal compared with corresponding figures of 33 per cent and $12.8 billion in 2003-04.

The financial services sector, which includes IT spending by banks, insurance companies and security firms, accounted for the largest share of Indian software and services exports at around 40 per cent in 2003-04. Emerging verticals include healthcare, telecommunications, retail and government, according to the study.

The declining growth rate of Indian software exports was attributed to the growing share of offshore development as compared to on-site services.
Back to News Review index page  
MSN launches new search engine
New Delhi: MSN has launched its new search engine in India and is likely to follow it up with local language versions. Earlier, Microsoft used Yahoo's third party search engine for its portal.

Currently, the new version of MSN search is available in 25 countries and 10 languages. Microsoft worked for about two years to develop the new search engine and the Hyderabad-based India Development Centre of Microsoft had also contributed towards it. Development teams from all over world contributed to the development of the search engine, while the Indian team worked on its tool bar, company officials said.
Back to News Review index page  
New Oracle grid computing tool
Hyderabad: Oracle has announced Oracle Database Lite 10g that extends the power of grid computing to the mobile workforce.

Enabling persistent access to critical information and applications without requiring continuous connectivity to back-end enterprise systems, Oracle Database Lite 10g enables users to increase efficiency, productivity and responsiveness of mobile workforces, reduces costs, and improves customer satisfaction.
Back to News Review index page  

RFID products from Gemini
Chennai: Gemini Communication Ltd has launched TRAZE range of RFID (radio frequency identification) products, which are based on Texas Instrument's RFID platform.

The company has formed a 30-member team to develop and design TRAZE products, including metal-resistant laptop tags, package tags to withstand over 1,200 degree Celsius, smart table antennas for retail application and library management solutions, the company has said.

According to Gemini Communication, the company is carrying out tests in the area of supply chain management.
Back to News Review index page  
Corporate Results
Hinduja TMT Q3 net steady
Mumbai: Hinduja TMT Ltd has reported a profit after tax of Rs22.68 crore for the third quarter ended December 31, 2004 against Rs22.54 crore in the corresponding period last fiscal.

The net profit for the nine-month period ended December 31, 2004 stood at Rs62.70 crore( Rs 60.08 crore).The net income for the third quarter stood at Rs46.86 crore (Rs45.68crore).
Back to News Review index page