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Kinetic to launch Italjet range of scooters
New Delhi: The Kinetic group is all set to launch a range of seven new scooters, after its tie up with Italjet, which will be rolled out into the market in a phased manner over the next three years.

The first one off the block will be the 165cc Millennium. The seven models ranging between 50cc and 250cc will be priced between Rs30,000 and Rs1 lakh.

The company will also export these new scooters to markets like Latin America, the US and Europe. In some of these markets, the scooters will be branded as Italjet for which Kinetic will need to pay the Italian company royalties.

The company is targetting domestic sales of 1.35 lakh scooters and 1 lakh motorcycles this fiscal and exports of 35,000 units overall.

The Kinetic group has also introduced a new logo for all of its two wheelers, dealership insignia and other brand related initiatives, in the form of a metallic grey and silver unit described as "Modern K".
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TCS's security group develops low-cost smart cards
Hyderabad: The eSecurity Group of TCS has developed a low-cost next-generation smart card and plans to reduce the cost further in partnership with Taiwanese manufacturers. The company has partnered with ICICI Bank for this initiative, which will enable the bank to offer digital certificates to its clients and customers.

Further, the eSecurity Group has also bagged contracts from a US-based telecom major and a Canadian insurance company.

As a part of the arrangement with ICICI Bank, TCS will provide a comprehensive range of public key interface (PKI) and digital certificates and enable the bank to serve as a sub-certifying authority and provide digital certificates to its clients.

The eSecurity Group has about 38 clients and is working on a series of products and services, including smart cards. TCS management has also decided to provide the entire workforce, currently numbering 45,000 plus, with smart cards.
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PSL to raise Rs.300 crore for expansion
Mumbai: PSL Ltd plans to raise Rs300 crore towards capacity expansion for its existing domestic plants, new international facilities and strengthening its regional bases and otherwise to consolidate company's capabilities.

The company's board approved the plan to raise long-term funds.
The funds would be raised through an issue of foreign currency convertible bonds of up to $ 40 million.
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Bombay High redevelopment scheduled for early completion
Kolkata: ONGC is set to complete the Bombay High North redevelopment project six months ahead of schedule in December 2005.

The development is expected to lead to an increase in the company's crude production beginning the fourth quarter of the current year. Domestic output will increase further once redevelopment of Bombay High South is completed in 2006.

Commissioned 30 years ago, Bombay High alone contributes 40 per cent of ONGC's crude production. Another 14 fields produce 35 per cent of the total. The remaining 100 fields contribute just 25 per cent.

ONGC had launched a redevelopment project in Bombay High North and South in February and September 2001 respectively to restrict a drop in production as well as improve the recovery factor. The total project cost was estimated to be in the region of Rs8,200 crore. The total investment in the project is expected to be recovered in five years.

The redevelopment project was launched following a drop in production from 20 million tonne to 12 million tonne a year.

Being implemented in phases, the project has already led to an increase in production from India's only large oil field. Following completion of the redevelopment project, the recovery factor from the field will improve from 28 per cent to 31 per cent.

According to a rough estimate, every percentage increase in recovery will generate an additional revenue of more than Rs3,000 crore for the company.
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Konica Minolta and HCL Infinet in marketing tie-up for colour printers
New Delhi: Konica Minolta Printing Solutions has announced its entry into the Indian market with the launch of a range of colour printers, which will be marketed in the country by HCL InfiNet, a wholly-owned subsidiary of HCL Infosystems.

According to HCL officials, over the years HCL has established itself in the imaging business, and it was logical to expand the company's portfolio with laser printers to provide a complete end-to-end solutions to its customers in the field of imaging.

With the Indian colour laser printer market growing at over 25 per cent, Konica Minolta hopes to capture a "significant" share of the market with the new range. The newly-launched range includes Konica's `magicolor 2400' and `magicolor 2430 DL' priced at Rs32,500 and Rs38,000 respectively and is targeted at small offices and personal use.

The company has also launched `magicolor 5430 DL' printers targeted at institutional customers who have been using monochrome printers to meet their requirements and are looking at moving up the chain with colour printing.

The `Pagepro 1300 W/ 1350 W' mono laser printer is targeted at small business, home offices and executives and is priced in the range of Rs11,500-12,500.

The new range of printers will be available through HCL's nationwide distribution network that comprises 104 sales and services offices.

Konica Minolta is ranked at second position globally in the colour laser printer market with about 25 per cent market share.
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ESPN bags telecast rights for hockey matches
New Delhi: ESPN-Star Sports has signed an exclusive three-year telecast deal for all international matches under the aegis of the Indian Hockey Federation (IHF).

Under the agreement, ESPN-Star Sports will broadcast and market IHF Hockey Package, including 102 international matches over the next three years. According to ESPN Software India officials, their earlier airing of the premier hockey league matches were well received by the audiences which has encouraged the broadcaster to acquire the other IHF rights.

Officials added that the broadcaster has received positive feedback from the advertisers and is close to signing a three-year sponsorship deal with a leading corporate.

Meanwhile, the channel is also awaiting the Board of Control for Cricket in India's decision on the telecast rights for cricket matches organised here. ESPN will make a bid depending on the calendar of events and the number of years for which these rights can be acquired.
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