document.writeln("

CDMA players to expand telecom infrastructure
New Delhi: Telecom operators Reliance Infocomm, Tata Teleservices and HFCL who use the Code Division Multiple Access (CDMA) technology plan to expand telecom infrastructure to spread their network to more than 6,000 cities and 4 lakh villages over the next two years. The additional total investment required to achieve this would be about Rs17,000 crore.

The companies have together projected a subscriber base of over 75 million users by 2007 and have so far invested Rs36,000 crore in covering 3,500 cities and one lakh villages.

Tata Teleservices has called for a joint government-industry initiative to deliver telecom connectivity to every Indian within the next two years.

CDMA operators in total have attained 20 million subscribers in the country. Addressing a press conference, Dr Rajan, the newly elected President of the Association of Unified Telecom Service Providers of India (AUSPI), the industry body representing CDMA operators, said that there was a need to create an enabling environment to generate the next wave of growth in telephony, particularly in the rural areas.
Back to News Review index page  

Govt. to divest 15 per cent stake in SCI
New Delhi: The Government is diluting its stake in the Shipping Corporation of India (SCI), now a profit-making company, by 15 per cent.

At present, the Government holds 80.12 per cent stake in the shipping company, institutional investors hold another 13.45 per cent, private corporate bodies 1.89 per cent, Indian public 4.39 per cent and NRIs 0.15 per cent.

Of the 15 per cent equity to be offloaded, 10 per cent shares would be offered to the company's employees. The company has also agreed to split the SCI stock to Rs5 from the present Rs10 said the minister for shipping, road transport and highways, T.R. Baalu, at the Economic Editors' conference here today.

Disinvestment in SCI was proposed in the recent past, but was set aside after the Left parties stridently opposed the move. SCI recorded a net profit of Rs1,420 crore for 2004-05, the highest since its inception.
Back to News Review index page  

Mahindra and ITEC in JV for manufacture of trucks, buses in India
Mumbai: Mahindra & Mahindra (M&M) and International Truck & Engine Corporation of the US (ITEC) have announced an agreement to set up a 51:49 joint venture company Mahindra International for the manufacture of trucks and buses in India.

Anand Mahindra, vice-chairman & managing director, M&M, said the move would widen M&M's presence in the transport industry and scale up its business. M&M has transferred its light commercial vehicle (LCV) manufacturing facility at Zaheerabad as part of its contribution to the new venture.

The total investment proposed at Mahindra International was US$80mn (Rs370 crore).

The money will primarily go towards truck production, cab building and engine testing facilities.

The total capacity planned at the JV is 70,000 units per annum, composed of 20,000 LCVs and 50,000 medium and heavy commercial vehicles.
Back to News Review index page  

Reuters to invest US$4mn in 2006
Mumbai: Global news and information company Reuters on Thursday said it would invest US$4mn in 2006 as part of its five-year India growth plan. However, the news agency said it would decide the amount of investment on a yearly basis.

The media company will also increase its headcount in Mumbai to 110 in the next couple of months from the current level of 90. All the 20 new recruits will be in the editorial team.

Across the globe, Reuters will launch four new financial products and enter into alliances with mobile operators to provide real time information.
Back to News Review index page  

GV films to set up fun townships
Mumbai: Film production company GV Films plans to set up entertainment townships, which would have a variety of facilities for leisure activities ranging from multiplexes to theme parks.

The company plans to invest up to Rs2,000 crore to set up such entertainment townships in Tamil Nadu, Gujarat and Maharashtra.
The company said it was in talks with a few multinational firms to provide technical assistance in this regard. GV Films produces and distributes feature films in various languages. It has produced many popular Tamil films like 'Anjali' and 'Mouna Ragam.'

It recently entered Bollywood announcing the launch of a few Hindi films, in which it plans to invest around Rs25-30 crore. Bollywood actress Manisha Koirala has joined the board of directors of the company.
Back to News Review index page  

Merck Sharp partners with Baxter for new drug delivery system
New Delhi: Merck Sharp and Dohme (MSD), is collaborating with Baxter India, to provide a safe and effective drug delivery solution to its vials of antibiotic drug Zienam.

Under the partnership, Baxter's Viaflex self-collapsible IV fluid bag, would now be the carrier for the 'Mono Vial' presentation of antibiotics that MSD has recently introduced in the Indian market said company officials.

The companies are in talks with various public and private sector hospitals and healthcare delivery centres across the country to use the vial to avoid the risk of contamination, infection and related complications.

MSD's vial is designed in such a way that it could be directly attached to the Baxter's fluid bag and significantly avoid the risk of infections to the patient.
Back to News Review index page  

Spice Telecom to invest US$400mn
Bangalore: Spice Telecom has said that it has applied for licences to operate in six more circles with a planned investment of US$400mn. Spice Telecom, at present operating in Punjab and Karnataka plans to expand to Jammu and Kashmir, Haryana, Himachal Pradesh, Rajasthan and Uttar Pradesh East and West.

Recently Spice Telecom unveiled a new brand logo, depicted in orange, purple, green, blue and yellow colours, common to Spice group of companies operating in information, communication and entertainment (ICE) sectors.
Back to News Review index page  

BT mulling investments in Indian IT/BPO space
New Delhi: UK telecom major British Telecom said it is looking at the option of starting services in India in the IT and BPO sector.

The company feels that it has a significant presence in the country as a major user of Indian talent for its IT and BPO requirements.

The company said that with the relaxation in foreign direct investment (FDI) to 74 per cent (in telecom sector), these initiatives will enable global operators such as BT to expand significantly and invest in the Indian telecom and IT/ITES market.
The Government has announced several initiatives targeted at further liberalising the NLD and ILD licences to facilitate the growth of IT and ITeS services in the country.

BT is one of the world's leading providers of telecom solutions in Europe, the Americas and Asia-Pacific. Its activities include networked IT services, local, national and international telecommunications services and higher-value broadband and Internet products and services.
Back to News Review index page  

Sahara Computers to invest Rs.400 crore in expansion activities
New Delhi: Sahara Computers and Electronics (SCEL), a joint venture between South African IT major, Sahara Computers (Pty), and Sahara India Pariwar, has announced a Rs400 crore investment over the next two years to extend its reach in the Indian market. The company is eyeing a top position among the computer vendors in India by 2007.

The company feels that the challenge before it lies in not only competing within the existing space but also to bring innovative products at aggressive pricing and to combine this with unique marketing initiatives that will lead to greater penetration of the product in yet untapped markets.

SCEL is creating various retail experience zone stores with an investment of over Rs100 crore.

The company has announced an additional investment of Rs150 crore in the expansion of the retail segment alone and will tie up with middle and lower middle segment retail stores such as Vishal Mega Mart.
Back to News Review index page  

Sterlite reports 64.60 rise in net
Mumbai: Sterlite Industries India has reported a 64.60 per cent rise in net profit at Rs81.10 crore for the quarter ended September 30, 2005 as compared to Rs49.27 crore in the same quarter the previous fiscal.

Total income has increased 67.05 per cent to Rs1739.39 crore for the quarter from Rs1041.20 crore in the year-ago period, the company informed the Bombay Stock Exchange.

The board of directors has declared pro-rata preference dividend on the 2,18,75,000 cumulative redeemable preference shares (CRPS) of Rs10 each, the company said.
Back to News Review index page  

HCL Tech enters into agreement with IBM
Mumbai: HCL Technologies has entered into an agreement with IBM, through which it has acquired the right to use and sublicense IBM's 'PowerPC 405' and 'PowerPC 440' embedded microprocessor cores and certain associated peripheral cores, the company informed the Bombay Stock Exchange.

The objective of the design centre is to expand 'Power Architecture' designs in additional applications including networking, wireless and consumer devices.

The company has been providing system design solutions including VLSI and hardware designs in vertical Industries such as telecom as well as storage domains.
Back to News Review index page  

Polaris Software launches CollectNet solution
Chennai: Polaris Software has launched the 'CollectNet', a collections and recovery solution for the financial services sector. The solution based on the recently launched Microsoft's SQL server 2005 and Visual Studio 2005, would provide financial services companies with an all-in-one solution for improving collections and enhancing customer relationships, according to a company press release.

By using CollectNet, organisations could collect information on multiple products and services and link together collection cases for a single customer. It would also help collection agents to make the most intelligent treatment decisions based on the breadth of a customer's existing relationship with the organisation, the release said.
Back to News Review index page