TCS expands operations in Tamil Nadu
Chennai: Tata Consultancy Services (TCS) is expanding
its operations to other cities in Tamil Nadu with an investment
of Rs1,200-1,500 crore over the next two-three years.
Of this the company would invest Rs120 crore to set up
operations in Coimbatore. It will initially be setting
up its development centre with a seating capacity for
2,000 people on a 5-acre campus in the city. The facility
is expected to be ready in the next 18 months.
The
company is also investing close to Rs1,200 crore to build
its largest facility in Siruseri near Chennai which will
have a seating capacity for over 23,000 people.
TCS
has over 13,000 professionals based in the state.
Back
to News Review index page
HP
starts new facility in Chennai
Chennai: Hewlett Packard has opened a new three-lakh
square-feet facility in Chennai for global delivery services.
This is the company's second centre in Chennai which will
accommodate 3,000 people. It has already recruited about
700 people, including 300 through campus selection, for
the facility.
The
company announced the launch of the facility at Connect
2006, a three-day ICT event organised by the Confederation
of Indian Industry (CII) and the government of Tamil Nadu.
HP
expects to scale up its headcount to about 5,000 in the
next two years in Chennai. It already employs around 2,000
people at its business process outsourcing unit in the
city.
The
centre would focus on key outsourcing engagements covering
all aspects of IT and IT-enabled services, including application
services, IT infrastructure management (servers in the
US would be managed from the Chennai centre), technical
support and BPO.
Back
to News Review index page
Telecom
service quality poor: Trai
New Delhi: A survey by Telecom Regulatory Authority
of India (Trai) has found that 60 per cent of telecom
operators do not meet the benchmark criteria for standard
quality of services.
According
to Trai, "On an all-India basis, 59.52 per cent of
operators do not meet the benchmark criteria for all the
parameters. In the mobile segment, the customer perception
of overall customer satisfaction level is poor in all
the circles with only 10 cellular licensees out of a total
of 105 surveyed meeting the benchmark of 95 per cent,"
it said.
In
Delhi, only Bharti and Hutch have attained the overall
customer satisfaction level. The lowest overall customer
satisfaction level is with MTNL Delhi (88 per cent).
In
Mumbai, Tata has achieved the benchmark. The lowest is
with Hutch (87 per cent). None of the operators meet the
benchmark in Kolkata and Chennai.
Back
to News Review index page
Bharti
likely to run Tesco as franchise
New Delhi: Bharti is likely to enter retailing
in partnership with Tesco, the UK-based global retail
giant and may become a franchisee for Tesco in the country.
At
the moment, FDI in retail is permitted only in single-brand
retail and international retail chains can operate franchisees
100-per cent foreign investment is allowed in cash-and-carry
retail.
Bharti's
retail foray is likely to be through a mix of store formats
small and big outlets and hypermarkets. The initial
rollout will be in Delhi, the surrounding national capital
region and in Ludhiana.
The
venture is likely to under Bharti Enterprises, the group
holding company.
Back
to News Review index page
Titan
may become franchisee of Hugo Boss watches
Mumbai: Titan Industries will soon sign an agreement
with international fashion brand Hugo Boss for becoming
its franchisee for watches in India.
According to sources, the agreement will be for a period
of five years and Titan will receive 10 per cent of the
revenue as fee. The Hugo Boss range would be sold both
through Titan's exclusive showrooms and its multi-brand
outlets.
Currently, Titan has a similar agreement with Tommy Hilfiger
to retail its brand of watches through Titan outlets.
The
Titan retail network consists of roughly 185 "World
of Titan" stores across the country. The company
also retails its watches through another 150 multi-brand
outlets.
Back
to News Review index page
HLL
to merge Modern Foods with itself
September: Hindustan Lever plans to absorb subsidiary
Modern Food Industries to utilise its distribution reach
and help increase sales of its foods.
HLL
will also absorb Modern Food's unit, Modern Food and Nutrition
Industries. The board of Modern Food has also approved
the proposal, the company said.
In
May this year, HLL chairman Harish Manwani said HLL plans
to expand its foods business, taking advantage of its
parent's product portfolio and its large retail network.
The company hasn't specified the products it plans to
introduce.
HLL's
board has also decided to separate its factory land at
Shamnagar, in the eastern West Bengal state, and Jamnagar,
in the western Gujarat state, and vacant land at Daverashola,
in the southern Tamil Nadu, into three companies that
will be fully owned, it said in the statement.
Processed
foods such as jams, squashes, salt and soups accounted
for about 3 per cent of HLL's first-half revenue.
Sales
from processed foods increased 27 per cent to Rs185 crore
($40 million) in the six months ended June 30. The division
made a profit before interest and tax from the business
of Rs451 lakh, from a loss in the year-earlier period.
HLL
purchased 74 per cent of Modern Food from the government
in January 2000, for Rs126 crore.
In
November 2002, HLL bought the remaining 26 per cent of
the company for Rs44.07 crore.
Modern
Food's loss widened to Rs15.06 crore in 2005 from Rs9.84
crore the previous year, according to HLL's annual report
for 2005. The company has six plants making bread that
is sold across the country.
Back
to News Review index page
Government
may force drug makers to cut prices of key brands
New Delhi: Drug makers Shreya Life Sciences and
Wockhardt are likely to face government pressure to reduce
the price increases of some of their key brands. The two
companies had increased the prices of some products by
more than 20 per cent in previous occasions and government
is suggesting a formula to arrive at the retail price
applicable now, after rolling back the increase in the
scrutiny period.
In
line with its plan to ask 11 drug makers to lower prices
of some of their price control-free drugs, the chemicals
and fertilisers ministry may ask Shreya Life Sciences
to bring down the price of its Emidoxin tablet, which
according to ORG-IMS figures saw an increase of about
24 per cent to Rs 14 for 10 tablets between July '04 and
July '05.
The
government will also ask Wockhardt to reduce the prices
of two different strengths of its oral anti-diabetic tablets
sold as mopaday, which according to NPPA, increased by
about 24 per cent between April '04 and April '05.
The
government may also request Wockhardt to reduce the price
of its Practin and Libotryp tablets too. Both are priced
below Rs10 and Rs11, respectively, for strips of ten and
rose to a little less than Rs14, during the same period.
To
arrive at the applicable price today, companies will have
to first reduce the increased price in the scrutiny period
to below 20 per cent. Then they could add the price increases
effected in subsequent years to this lower base price
to arrive at the current price.
Back
to News Review index page
US
companies are India Inc's largest business partners: Report
New Delhi: US companies have emerged as India Inc's
largest business partners, with the US receiving the highest
amount of RBI-approved investment of $225 million between
April 2005 and January 2006.
In the decade up to 2005, the US attracted the highest
share of Indian direct investments approvals of $2,159
million, followed by Russia with $1,763 million. Mauritius
was third with $1,038 million approvals.
According to a FICCI-Ernst & Young report `Direct
Investments in the United States of America by Indian
Enterprise' the software and BPO sector accounted for
the largest share (58 per cent) in terms of the number
of deals involving the US during 2004-06.
Healthcare comprising pharmaceuticals, biotech and healthcare
services accounted for 17 per cent, while the remaining
25 per cent of deals were in sectors such as telecom,
textile, automotive and financial services.
The
report said that with high levels of technological expertise
and knowledge, entrepreneurial development, management
skills and infrastructure, Indian companies have truly
come of age and are being viewed as competent business
partners by their US counterparts.
The
report added that Indian enterprises have contributed
significantly to the US economy. They are no longer just
outsourcing partners; their presence in the US business
community as competent business partners is increasingly
becoming clear.
Not
only are Indian companies creating new jobs and boosting
wages, investments from India are strengthening US manufacturing
and contributing to rising productivity.
The
key decision drivers for Indian enterprises investing
in the US include access to foreign markets, production
facilities and international brand names, according to
the report.
Back
to News Review index page
|