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BHEL receives Rs82-crore orders from Jindal group
New Delhi: Bharat Heavy Electricals Ltd has received orders worth Rs82 crore from companies of the Jindal group to supply transformers.

Jindal Stainless has placed an order to supply transformers for their 250mw-power plant in Orissa. Jindal Power in Delhi has placed an order for its 500mw-power plant in Chhatisgarh. The order has to be completed by April 2007. Jindal Steel and Power Ltd, Raigarh have placed the third order for supply of generator transformers by July 2006.

The equipment for all the projects will be manufactured and supplied by BHEL's Bhopal and Jhansi facilities.
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Honda Siel launches V-tec City variant
New Delhi: Honda Siel Cars India has launched a new version of its mid-size sedan City called Honda City ZX. The car comes priced at Rs6.71 lakh (ex-showroom Delhi), higher by Rs16,000 from the existing lowest-priced version.

Honda has also launched a 1.5-litre VTEC (variable valve timing and lift electronic control) engine powered version at Rs7.99 lakh.

The Honda City recently overtook the Tata Indigo as the C-segment leader and sold 16,297 units during August-September 2005 against 12,571 units last year.

Honda Siel Cars India is looking at scaling up its production in India up to 1,00,000 units in the next five years and by mid-November this year, the company's Greater Noida plant will touch a capacity of 50,000 units from 30,000 units.

The company has invested about Rs 150 crore in this expansion.
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HCL unveils another sub-Rs10,000 PC
New Delhi: HCL Infosystems has launched an AMD-powered, Linux-based PC priced at Rs 9,990. The HCL Ezeebee Pride computer comes with a configuration of AMD x 86 1.6 GHz processor, 128 MB RAM, 40 GB Hard Disk Drive, 52X CD ROM, 15-inch colour monitor and Linux Operating System, and supports applications such as word processor, spreadsheet, presentations, Web browsers, e-mail and video conferencing.

The consumer also has the option of going for Microsoft Windows XP Starter Edition instead of Linux, for which the PC price would be Rs11,240. However, in both the cases, handling, freight, forwarding, insurance and installation charges would attract an additional Rs1,250.

In August this year, HCL had launched a Linux-based low cost PC dubbed `PC for India,' with 1-GHz processor from Taiwan-based-VIA Technologies, 128 MB RAM, 40 GB hard disk, 15-inch digital colour monitor, 52X optical drive, keyboard and scroll mouse.

Another company, Xenitis has also launched a below Rs 10,000 PC.
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Ranbaxy takes US pharma company to court
Mumbai: Ranbaxy Laboratories' (RLL) US subsidiary, along with Agvar Chemicals Inc., has filed a joint complaint against Barr Laboratories Inc. and Teva Pharmaceuticals, USA, Inc. for damages and equitable relief for breach of contract in the US healthcare market.

The complaint is also for fraud and tortuous interference associated with the supply of active pharmaceutical ingredients regarding the commercialisation of fexofenadine hydrochloride ta blets, Ranbaxy told the Bombay Stock Exchange.

According to Ranbaxy, after five years of lending technical expertise to Barr in the development of the fexofenadine hydrochloride tablets, and investing heavily in facilities to meet the demands of Barr, it was found that that Barr had an undisclosed relationship with Teva.

Ranbaxy terms this a breach of "our agreement with Barr", and is seeking appropriate relief from a state court in New Jersey.
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Tata Tea's Tetley to acquire Good Earth
Mumbai: Tata Tea has said that Tetley US Holdings Ltd, its US subsidiary, is acquiring FMALI Herb Inc and Good Earth Corporation.

Good Earth Corporation owns the Good Earth brand, which is licensed to FMALI Herb Inc. The acquisition by Tetley will be financed through borrowings, Tata Tea informed the Bombay Stock Exchange.

Good Earth will continue to blend and pack teas at its base in Santa Cruz, California and Good Earth teas will continue to trade under the Good Earth brand name, it said.

Good Earth is a specialist tea brand in the US, with particular strength on the West Coast and has a 3.7-per cent share of the US specialty tea market, it added.
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Mastek net up by 18.90 per cent in Q1
Mumbai: Mastek has declared a net profit of Rs12.62 crore for the first quarter ended September 30, 2005 as compared to
Rs10.61 crore during the same quarter last year. Total income for the quarter was significantly higher at Rs87.12 crore against
Rs41.15 crore during last year period.

Mastek has changed its business model for the UK operations and is executing on-site projects in the UK.

The company said the group income for October-December 2005 quarter, is likely to be in the range of Rs159-Rs164 crore and the net profit to be in the range between Rs15.30 crore and Rs16.30 crore.
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Lloyd Electric allots 92-lakh shares to depository
Mumbai: Lloyd Electric & Engineering has said it has allotted 92 lakh shares to the company's depositary, The Bank of New York.

The allotted equity shares are of Rs 10 each against 46 lakh global depository receipts of the company, it informed the Bombay Stock Exchange.
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Sterling Biotech signs MoU with Torrent Gujarat
Mumbai: Gelatin manufacturer Sterling Biotech, said it has entered into a MoU with Torrent Gujarat Biotech to buy a manufacturing facility in Gujarat for Rs55 crore.

The MoU entails an all-cash deal and is subject to necessary approvals from BIFR, the shareholders and GIIC, Sterling and Torrent informed the BSE.

Torrent Gujarat Biotech Limited (TGBL) produces Penicillin-G and meets about 18 per cent of the country's Penicillin needs, it added.
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Apeejay to acquire UK tea brands for £80 million
Mumbai: Apeejay Tea, part of the Apeejay Surrendra group, a leading tea producer, is acquiring the entire tea business of UK-based Premier Foods plc for £80 million.

Apeejay will buy Premier's tea brands, including the Typhoo brand, London Fruit and Herb, Lift, and other associated brands for which the entire consideration would be paid in cash and the transaction is expected to complete shortly, the company informed the Bombay Stock Exchange.

The company is also acquiring its extensive own label contracts, and the Moreton tea manufacturing facility in Merseyside, which employs 249 people.
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New cyber crime detection software launched
Mumbai: Micro Technologies India has launched security product Micro Cyber Activity Remote Monitoring System (CARMS).

Micro CARMS enables remote tracking of computer systems and ensures their proper utilisation and uploads the system's activity details on to the administrator's computer, the company informed the Bombay Stock Exchange.

This would also provide vital information on documents opened, URLs visited, etc, in the remote computer system to the administrator. A video camera, if installed in the system, would provide live image of the operator working on the remote computer, it said.

The product would help in remote monitoring and, if possible, controlling the misuse of computers, to ensure their optimum utility and thus improved productivity.

The company said the product would help organisations like BPOs, call centres, reservation counters, cyber cafes, software development centres to eliminate problems such as leaking of secret information, unauthorised access to secured folders.
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Airtel to develop the MP's Chhattisgarh circle
Indore: Cellular operator Airtel said it planned to invest about
Rs250 crore in Madhya Pradesh-Chhattisgarh circle to further widen its reach and services in the region.

The company has presence in 91 cities and towns in the circle, of which 42 were added during the last six months. Airtel aims at expanding its network at a faster pace to ensure more coverage in the circle.

The 'blackberry' mobile, which has a host of features, including instant e-mail facility, is now available in Indore, Bhopal, Raipur and Bhilai.

The company has 17 per cent market share in the circle with a mobile subscriber base of 3.4 lakh customers and is adding nearly 15,000 subscribers every month.
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Indo Rama Synthetics Q2 PAT up 29.65 per cent
Mumbai: Indo Rama Synthetics (India) has recorded a net profit of Rs 33.67 crore for the second quarter ended September 30, 2005 as compared to Rs 25.96 crore achieved during the corresponding quarter previous year.

Total income for the quarter has increased to Rs 478.21 crore from Rs 473.14 crore in the same period last year.
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Orchid Chemicals Q2 net climbs
Mumbai: Orchid Chemicals & Pharmaceuticals has declared an increase of 588.86 per cent in net profit at Rs27.21 crore for the quarter ended September 30, 2005 as compared to Rs 3.95 crore during the corresponding quarter last fiscal.

Total income increased 46.26 per cent to Rs240.42 crore during the second quarter in the current year, from Rs164.37 crore in the same quarter in the year-ago period, the Chennai-based company informed the Bombay Stock Exchange.
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BP, HPCL sign letter of intent to set up refinery
Mumbai: Hindustan Petroleum Corporation (HPCL) and
UK-based British Petroleum (BP) Plc have signed a letter of intent for a strategic partnership for refining and marketing petroleum in India.

Apart from broad areas to be agreed for strategic partnership, this includes participation on setting up of the grassroot refinery in Punjab including supply of crude as well as marketing of products.

The two companies have signed an accord for the venture that will cost about $3 bn.

BP Plc, Europe's largest oil company, is said to have agreed to spend about $445 million in the oil refining venture.

The 9million ton-a- year refinery is scheduled to be built in Punjab,

Fuel consumption in India, is expected to rise about 3.8 per cent in 2005 for the second year in a row.

Indian refiners sold 111.7million tons of fuels in the year ended March 31 compared with 107.8-million tons a year ago.
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ONGC, Mittal Steel sign deals for JVs
Oil & Natural Gas Corporation (ONGC) has signed agreements with Mittal Investment Sarl, the investment holding arm of Mittal Steel, to form ONGC Mittal Energy (OMEL) and ONGC Mittal Energy Services (OMESL).

According to ONGC, the agreement signifies the formal launch of both the joint ventures within ten weeks of signing of the memorandum of understanding (MoU) in New Delhi on July 23, 2005.

According to a release issued to the BSE equity for each of the JV is $50 million. OVL (in case of OMEL) and ONGC (in case of OMESL) will hold 49.98 per cent (51 per cent of 98 per cent and Mittal Investment Sarl will hold 48.02 per cent (49 per cent of 98 pc) SBI Caps will hold the balance equity in both the ventures.
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Delphi's Indian operations to remain unaffected
New Delhi: Delphi Automotive Systems, the Indian subsidiary of automotive component manufacturing giant Delphi Corp, will remain unaffected by the fortunes of the parent company. Delphi Corp recently filed bankruptcy proceedings in the US.

According to Delphi Corp, the non-US subsidiaries are not a part of the filing in the US and from a regional standpoint the Asia-Pacific region including India are insulated from the developments in the US.

On the other hand the company is looking to strengthen its technology centre in Bangalore with an investment of $10 million, which would be primarily used to ramp up the engineering design division.

Delphi India clocked a turnover of about $110 million in 2004 (of which exports accounted for $30 million) and this year the company is expecting to clock around $125 million.

According to international media reports, Delphi USA plans to emerge from bankruptcy in early to mid-2007 after cutting US manufacturing operations and modifying labour agreements to reduce wages and benefits.
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