Reliance Comm slashes STD call rates to 40p/minute
New Delhi: Reliance Communications has announced a new plan whereby its fixed wireless subscribers in State capitals can make calls to each other at local call charges, at 40 paise a minute. The scheme will benefit subscribers in 18 State capital cities besides New Delhi. The Reliance move follows a similar price plan announced by Mahanagar Telephone Nigam Ltd for STD calls between Delhi and Mumbai at local call rates.

For instance a Reliance subscriber in Delhi can make a call to another Reliance user in Chennai at 40 paise a minute. The tariff will not be available for the capital cities in north eastern States and Jammu and Kashmir since the company does not have its network there. The company has taken up a massive awareness building campaign for the product through print, audio and audio-visual media in all the State capitals across the country.

This plan will come into effect from July 4. Reliance will also be adding 300 new cities to its network by the end of the month.

Currently, Reliance has 2 million FWP customers of which 40-50 per cent are in these 19 capitals.
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CDMA to co-exist with GSM
Reliance Communications' GSM expansion will run parallel to its existing CDMA platform and is aimed at offering better services to customers at more competitive prices.

The company said it would offer services at the most affordable prices, notwithstanding the portfolio of technology. Officials said, "Customers do not want to know which technologies they use but want best services at best prices."
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Welspun acquires UK's Christy
Mumbai: Welspun India has acquired an 85 per cent stake in CHT Holdings, the holding company of UK's towel brand Christy for Rs112.71 crore. According to the deal Christy is valued at Rs132.6 crore.

Christy's management will continue to hold 15 per cent stake in the company and will also run the company. Rajesh Mandawewala, joint MD of Welspun, has been appointed chairman of Christy, which will now effectively function like a subsidiary of Welspun.

From April 1, '09 the Welspun and Christy's management will be able to exercise a put/call option whereby Welspun can buy the remaining 15 per cent equity interest in the company.

Welspun is now the fourth largest terry towel company in the world and the largest in Asia.

Welspun will get access to the UK market and to Christy's premium range of products. Welspun will also integrate with Christy's distribution network in the US and start a transfer of technology to rationalise Christy's sourcing.

The Rs300-crore Christy was founded in 1851 and it is the sole supplier of the Wimbledon championship tennis towel. It not only manufactures but also imports a range of products for retailers.
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Honda to invest Rs3,000-cr in India
New Delhi: Japan's Honda Motor Co has outlined an aggressive expansion strategy for two-wheelers and cars, which would see the company investing Rs3,000 crore over the next ten years in India. Honda also said that it would enter the small car segment in India, for which it was mulling setting up a second production unit.

According to Honda Motor president and CEO, Takeo Fukui, India would be a more important market for the company than China. He listed rising population, high growth rates and democracy as factors that gave India an edge over China, though expressing concern over the labour issues in the country. Honda now has four companies in India, of which three are joint ventures.

It plans to start a new company — Honda Motor India — that would help it co-ordinate requirements for components for various group companies.

The company said it would ramp up production capacities in both two-wheelers and cars in the coming years as it saw the market expanding at a quick pace.

``By 2010, we will have a two-wheeler capacity of 7-7.5 million in a market of around 12 million, while in cars we will raise production to 1,50,000 units, three times of what we have today,'' Fukui said.

In its joint venture with the Siel group Honda Siel Cars India (HSCI), Honda plans to bring down its stake to 95 per cent from 99 per cent per cent by divesting equity in favour of the joint venture partner. Siel would be purchasing the stake for Rs73 crore by the end of the year.
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Dr Reddy's launches new drugs
Hyderabad: Dr Reddy's Laboratories has launched alfuzosin hydrochloride - indicated for the treatment of signs and symptoms of benign prostatic hyperplasia (BPH). The company said it is introducing alfuzosin hydrochloride under the brand name `Alfoo' which is available in extended release tablets of 10 mg dosage.

The company said alfuzosin scores over other alpha-blockers by way of providing rapid relief from signs and symptoms of BPH to offer a better quality of life.

The product is being made available in over 5,700 retail counters across the nation and is being marketed by a strong field force of over 100 scientific business officers, the company said.

BPH is the most common non neo-plastic disorder of aging in men. The prevalence of BPH increases from 8 per cent in men between 31 and 40 years of age to 50 per cent in men between 51 and 60 years of age. The market size for the product (alfuzosin hydrochloride) as per April data is valued at Rs27 crore. The urology segment is estimated at over Rs65 crore, the company said.
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BHEL gets Rs842-cr worth of contracts in Rajasthan
New Delhi: Bharat Heavy Electricals (BHEL) has received two contracts from Rajasthan Vidyut Utpadan, worth Rs842 crore for setting up two thermal power projects in Rajasthan. The contracts entail setting up of a 250-MW unit at Suratgarh Thermal Power Station and a 195-MW unit at Kota Thermal Power Station, a BHEL release said.

The units, which are expected to ease the power crisis in the State, are expected to be commissioned in 2008-09, it said. BHEL's scope of work in the projects includes design, manufacture, testing, erection and commissioning of main plant along with associated auxiliaries. BHEL's manufacturing units at Haridwar, Tiruchi and Bangalore would supply the main equipment for these projects, the release added.
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Hyderabad Ind starts production
Hyderabad: Hyderabad Industries Ltd has informed the stock exchanges that the commercial production of its asbestos cement sheets and accessories unit located at Satharia in Jaunpur district of Uttar Pradesh has started from Monday.
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Swaraj Mazda to sell Isuzu buses
New Delhi: Swaraj Mazda, a joint venture between Japan's Sumitomo Corporation and Punjab Tractors, has signed a technical assistance agreement with Japanese automotive major. Under the contract Isuzu Motors would enter the Indian market through the local assembly and sales collaboration contract for medium duty buses with Swaraj Mazda.

`The buses will be assembled by Swaraj and sold in India under the Isuzu brand through about 130 exclusive dealers of Swaraj. Isuzu said the delivery of medium duty bus completely knocked down (CKD) kits to Swaraj would start from 2007.

The company plans to sell about 100 units in 2007, which is expected to expand to 1,000 units in 2009. Although Swaraj still retains the name Mazda, its capital relationship with Mazda was dissolved with the latter withdrawing from development and production of Mazda trucks and bus with Swaraj in August last year. The Sumitomo Corporation is the largest shareholder in SML with 41 per cent stake, while Punjab Tractors holds 14 per cent. SML's shares closed at Rs236.70, up 5 per cent from yesterday's closing at the BSE.
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Aurobindo gets tentative USFDA nod for new drug
Hyderabad: Aurobindo Pharma said it has received the first tentative new drug application (NDA) approval from the United States Food and Drug Administration for fixed dose combination drug product containing lamivudine, zidovudine and nevirapine tablets (NDA) used in the treatment of HIV-1 infection.

APL said the three drugs were now available in a single tablet and it is the sole manufacturer of this approved combination. This fixed dose combination pill comprising two-nucleoside reverse transcriptase inhibitors and a non-nucleoside reverse transcriptase inhibitors is used as first line therapy in most HIV patients. At present in most parts of the world, the regimen containing Lamivudine, Zidovudine and Nevirapine is very popular.
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Tata Steel reports higher Q1 output
Mumbai: Tata Steel has reported higher production of hot metal and crude steel during the first quarter of 2006-07. Hot metal production at 1.31 million tonnes and crude steel production at 1.21 million tonnes was higher by 8.2 per cent and 9.4 per cent respectively, compared to volumes in the first quarter last year. Saleable steel production at 1.11 million tonnes registered an increase of 17 per cent. Sales during the first quarter grew by 28 per cent to 1.12 million tonnes. The sales to auto sector is 0.19 million tonnes and has increased by 32 per cent. Sale of branded rebars, Tata Tiscon, grew by 42 per cent.

Shares of Tata Steel rose by Rs8.90 to Rs542.20 on the BSE.
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Maruti June sales up 17.5 per cent
New Delhi: Maruti Udyog has reported a 17.5 per cent increase in domestic sales at 44,626 units during June compared to 37,995 units in the same month last year. Total sales grew 17 per cent to 48,425 units during the month against 41,390 units in June last year. Exports stood at 3,799 units in June this year, up 11.9 per cent from 3,395 units exported in the same month during 2005, a company statement said.

The company has also announced a new scheme under which Indians residing abroad can now gift Maruti cars to friends and relatives back at home under a programme, called `Dil Se.
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Mallya bids for Foster's beer units in India, Vietnam
Mumbai: Vijay Mallya's chairman of United Breweries is said to have bid for a stake in Australian giant Foster's beer units in India and Vietnam, estimated to be valued at $234 million.
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L&T gets Rs329-cr worth of orders
Mumbai: Larsen & Toubro has received 4 orders worth Rs329 crore from the Indian Oil Corporation (IOC) and Bongaigaon Refinery & Petrochemicals (BRPL) for their ongoing expansion projects.

The orders would be executed by L&T's Heavy Engineering Division. One of the orders secured involves designing, manufacturing and supplying two ethylene oxide reactors, involving special tubes made of duplex stainless steel. Ethylene oxide reactors are an extremely critical part of the mono-ethylene glycol unit in a petrochemical plant.

The other orders are for critical reactors for the Diesel Hydrotreating units of IOC and BRPL refineries.
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Reliance Retail to start operations from AP
New Delhi: Reliance Industries' organised retail foray — under Reliance Retail, a wholly owned subsidiary — will start operations by setting up a food and beverage store in Hyderabad on August 1 this year, followed by opening a store every week in the state. There would be three types of stores in all. The first would be food and beverage stores spread over 2,000 sq ft, which would sell packaged foods, beverages, fruit, and vegetables.

The second would also sell food and beverages, along with staple like rice, lentils and sugar. Their size would vary from 2,000 to 4,000 sq ft. The third type would be hypermarkets, occupying 4,000 sq ft and more. These would sell everything, from food and consumer durables to apparel.

To begin with, Reliance would own all its outlets and would later consider having franchisees.

While Reliance officials did not say why it was beginning its retail foray in Andhra Pradesh, industry experts said this was on account of the state being among the top three in the country in terms of retail off-take.
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