TCS gets Rs178 cr order from Bank of Maharashtra
Mumbai: Tata Consultancy Services (TCS) has received a Rs178 crore project from Bank of Maharashtra (BoM). The project involves networking over 600 branches of the bank through deployment of core banking solutions.

As per the tie-up between TCS and the bank, the software major would be responsible for end-to-end system integration including redesigning and deploying a corporate network. TCS would also set up a data centre and provide facilities such as management services to the bank over the next six years.
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Man Industries raises $35 million via GDRs
Mumbai: Man Industries India has raised $35 million through issuing 67.3077 million global depository receipts (GDRs), to be listed and traded on the Dubai International Financial Exchange (DIFX). Each GDR, representing one underlying equity share, was priced at $5.20 and ICICI Securities and Dubai Bank acted as the Lead Manager on the GDR offering.
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Srei Infrastructure to raise $50 million from ECBs
Kolkata: Srei Infrastructure Finance plans to raise $50million through external commercial borrowings (ECB) for financing infrastructure equipment. The company also said that it has approached the RBI to retain the over subscription of the syndicated loan floated by them, following a huge response to the issue.

The company said the cost of the loan would be between 1.4 and 1.7 per cent over the Libor rate. HSBC is the lead arranger for the company. The company had received the shareholders approval for the international float by way of ADR or GDR issue last year.
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Blue Dart to expand facilities in India
Bangalore: Blue Dart plans to invest Rs25 crore in expanding its facilities in India. The company wants to set up an additional 45 facilities in the country in the current calendar year, said its managing director Malcolm Monteiro.

The company clocked revenues of Rs536 crore in the January-December 2005 period, a 24 per cent growth and the numbers in the current fiscal are expected to be the same.

The company has five Boeing 737 freighters — two owned and three taken on lease — for air support in India and plans to add one more later this year. For its expansion, the company is considering acquiring a Boeing freighter or leasing it, Monteiro said.

Blue Dart claims a 39 per cent market share in the organised domestic express industry, with revenues of around Rs1,100 crore.
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Viacom to co-produce feature films in India
Mumbai: US-based media conglomerate Viacom that owns MTV and CBS Television Network, is entering India with plans of producing feature as well as animation films and is looking for local partners for its project.

Viacom chief operating officer Tom Freston said, "I am here to discuss with various stakeholders. I expect to finish the talks within few days from now. By next 10-12 months, we would begin production here," he said. Viacom would initially work on an English film project and subsequently venture into Indian language films.
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GM India to withdraw Opel brand from Indian markets
Kolkata: General Motors India is withdrawing its premium Opel brand from the market and will focus on marketing the Chevrolet brand. The company has already stopped production of Opel Corsa.

GM India would focus more on the Chevrolet brand in India as it was doing well after the launch of Optra sedan and Tavera multi-utility vehicle (MUV).
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Ind Swift's unit gets certification from Australian dept of Health
Mumbai: Ind Swift Laboratories has obtained the Therapeutic Goods Administration (TGA) certification from the Australian Department of Health and Ageing for its Punjab-based manufacturing facility that would manufacture the antibiotic 'Clarithromycin', used for treating various respiratory tract infections.

The company says this is a significant achievement as it is focussing on the regulated markets for its growth and the TGA certification will leverage the companys intrinsic potential and place it on par with the other leading players in the industry. The Australian department found the company complying with the requirement of the Australian Code of Good Manufacturing Practice for medicinal products, Ind Swift informed the BSE.
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Chambal Fertilisers signs pact with Korean Hyundai Heavy Industries
Mumbai: Chambal Fertilisers & Chemicals has signed a shipbuilding pact with South Korea's Hyundai Heavy Industries Company Ltd.

Chambal Fertilisers would build two Afamax Tankers (dead weight 1,05,830 MT each), the company informed the Bombay Stock Exchange. The company will deliver the vehicle in the last quarter of 2008 and another in the first quarter of 2009.
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Nitco Tiles gets licence for marble blocks imports
Mumbai: Nitco Tiles has obtained permission from the government to import marble blocks for 2005-06. The company will import blocks weighing 12,816 tonnes as against 2,392 tonnes eligible under the old policy, thereby showing an increase of 535 per cent, the company informed the Bombay Stock Exchange.
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PowerGrid to form more jt venture pacts
New Delhi: State-run PowerGrid Corporation of India plans to form joint ventures with five more companies, including ONGC and Essar for setting up transmission lines in the country entailing a total investment of Rs5,000 crore. The other companies include Torrent Power, Jaiprakash Group and Teesta Urja for executing transmission projects associated with their generating stations.

The total route length of these five projects would be around 5,000 circuit km and the estimated investment would be Rs5,000 crore. PGCIL will hold a minority 26 per cent stake and the developer would have the balance 74 per cent share in the joint venture.

While ONGC is setting up a 750 MW gas-fired power plant in Tripura, Essar and Torrent are building a 1,500 MW and a 1,000 MW gas-based projects in Gujarat. The joint venture with Jaiprakash group would be for its 1,000 MW Karcham Wangtoo project in Himac hal Pradesh and with Teesta Urja Ltd for its power plant in Sikkim.

Power Grid already has a transmission arrangement with Tata Power Co for the 1,020 MW Tala hydroelectric project in Bhutan and a joint venture with Anil Ambani-owned Reliance Energy for constructing transmission lines associated with Koldam and Parbati hydel projects in Himachal Pradesh.
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German company signs JV agreement with Indorama Cement
Germany's HeidelbergCement has signed an agreement with India's Indorama Cement for a 50:50 joint venture (JV) in India. The JV will include the grinding plant of Indorama Cement (owned by the Indorama S P Lohia Group) located near Mumbai. In the last 10 years, cement consumption in India has grown by about 7.5 per cent annually.

"The cement grinding plant in Mumbai is our entrance gate to India", said Dr. Bernd Scheifele, chairman of HeidelbergCement. "Step by step, we intend to expand our activities on this very promising market. The JV in India is in line with our strategy to invest specifically in growth markets".

Set up in 2000, Indorama Cement's plant in the Raigad district has a manufacturing capacity of 750,000 tons and is in very good technical condition. It has an excellent market position in the vicinity of Mumbai (17mn citizens) and Pune (5mn citizens).

Indorama Cement is the only producer of high quality slag cement in the Mumbai market. The company also operates a terminal near the Mumbai harbour. The approval procedure for the construction of a clinker plant in Gujarat has been started.
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Jet Airways-Sahara deal hits air pocket
New Delhi: The Jet Airways-Air Sahara deal appears to have hit an air pocket with the clearance from the Directorate General of Civil Aviation (DGCA) still pending. Both airlines are now going in for an extension of the March 24 deadline for effecting the transaction. The escrow account set up to facilitate the deal is scheduled to close on March 24.

Jet is also said to be waiting for approval from the Government for the share purchase agreement, holding pattern and security clearance of the board of directors sought by Air Sahara. Sources in Jet had indicated over the past few days that if they were not likely to get landing and parking rights and slots of Air Sahara, the deal would most likely fall through and it would be better to absorb some losses than going in for total acquisition. Jet officials are also taking a hard look at the maintenance and lease schedules of Air Sahara aircraft.

Meanwhile, the Monopolies and Restrictive Trade Practices Commission's (MRTPC) investigative arm has also issued notices to both the air carriers seeking details of the proposed acquisition.
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TTK commissions new plant for joint venture
The Chennai-based TTK group has commissioned a new plant for its joint venture, SSL-TTK, that it has with British company SSL Plc at the SIPCOT industrial complex at Irungattukottai.

SSL group is a big player in the healthcare products with a presence in condoms through the Durex brand and footcare segment through Scholl range of products which are 100 years old. Set up at an investment of Rs25 crore, the Scholl plant would have an initial capacity of 30 million units per annum with an aim to cater to 40 per cent of the global requirements of SSL group.

The Scholl plant will soon become the export hub for SSL group which has a turnover of 420 million pounds and employs close to 5,000 people in the US, UK and Asia Pacific markets. In the first half of 2005-06, the group has recorded an operating profit of 24 million pounds.

TTK-LIG, formerly London Rubber Company, is the first joint venture floated in 1955 between TTK group and SSL for the manufacture of condoms to the world markets. Now, with three factories in Pallavaram, near Chennai, Pondicherry and Virudhunagar, this joint venture has become the leading supplier of Durex condoms with the exports of over two billion units in the last four years to around 40 countries and has come to symbolise enduring business partnership between Britain and India over the decades. TTK-LIG has a turnover of Rs250 crore.
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ROCA to acquire 50-per cent stake in Parryware for €50 million
Chennai: ROCA of Spain, the world's second-largest company in bathroom ceramics, plans to invest 50m euro to pick up a 50 per cent stake in Parryware Glamourooms, a subsidiary of EID Parry.

With ROCA having a commercial presence in over 100 countries and a business volume of 1.6 billion euro ROCA and Parryware will become the world's largest bathroom products company a statement from EID Parry said.

ROCA's investment will be through a combination of direct subscription into the joint venture and acquisition from EID Parry. The investment is subject to the approval of FIPB.
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Air Deccan, Jet to explore synergy
New Delhi: Air Deccan has drawn up a three-point agenda for "synergy" with Jet. The possible areas of co-operation being discussed between the two airlines include transfer of passengers in case of flight cancellations, Air Deccan chief Capt GR Gopinath said.

Gopinath speaking to the press said code-sharing, pooling of engineering and airport resources, sharing of spares and tooling for ATR aircraft are the other areas where the two could work together.

Once the pact is signed, Air Deccan can have its passengers ferried by Jet in case of a cancellation. A similar option would be available to Jet, too. At present, airlines do not have alliances on transfer of passengers in case of cancellations or unusual delays.
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HPCL to generate 500 MW energy from wind power
Mumbai: Hindustan Petroleum Corporation (HPCL) aims to generate around 500 MW of energy within next three-four years. The company has identified around seven sites in Maharashtra and Karnataka for its wind energy projects and has invited expression of interest from private parties for setting up of projects in these states. The detailed feasibility study in this regard has already been carried out.
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Telcos cannot increase tariffs in lifetime schemes: Trai
New Delhi: Telecom regulator Trai said that telecom companies promising schemes of lifetime validity in mobile connectivity cannot increase tariffs in such schemes during the entire period.

Trai said the hike in tariff is prohibited for any tariff item specified in the lifetime tariff plans during the entire lifelong validity period. In the case of tariff plans which have a component of upfront payment, service providers will not be allowed to hike tariffs during the promised validity period.
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Hutch introduces 'Double Talk time'
Chandigarh: Cellular service provider Hutch has introduced - 'Double Talk time' scheme for its postpaid subscribers who would get Rs600 worth of free talktime on a monthly rental of Rs300.

According to the company the 'Double Talk time' offer gives postpaid subscribers twice the value they have paid for.

This offer primarily targets subscribers who are high on talk time usage. With additional benefits of reduced STD rates, scheme is a "full-fledged double value offer", he said.

All local calls in the 'Double Talk time' offer will be Rs1.99 per minute while STD calls will be charged at Rs2.40 per minute. Subscribers availing this plan will also get free caller ID facility, Kapoor added.
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Medimix now available in new design
Chennai: Medimix, the flagship soap brand of Cholayil, has been re-launched in a new design and packaging and is supported with a new advertising campaign.

The new look Medimix soap now comes in a contemporary packaging with user friendly smooth edges and in a pouch to retain its freshness and natural goodness, a company statement said.

According to the company the change coming after 36 years has received a good response. The target consumer profile for Medimix traditionally has largely been middle class and in the 20 plus age group.With this re-launch the company is also targeting the younger age groups and Section A consumers.
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Voltas to set up plants in Uttranchal
Kolkata: Voltas, the air conditioning and engineering services company of the Tata group, has decided to set up three plants in Uttaranchal at an investment of Rs120 crore to increase its market share and augment its export market in the Middle East.

The factories, to be set up at Panthnagar, would go for commercial refrigeration, room airconditioning and central air-conditioning, the company's senior vice president (unitary products business group), K J Jawa said.

Jawa said Voltas Limited aimed to increase its AC market share from 16 to 20 per cent.
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