Bharat Forge Q4 net up 21 per cent at Rs64 cr
Mumbai: Bharat Forge has reported a 21.3 per cent growth in net profit to Rs64.28 crore for the quarter March 31 2007, compared to Rs53.01 crore in the same period last fiscal. Total income increased to Rs538.27 crore for the January-March 2007, up 19 per cent from Rs452.74 crore in the same quarter of 2006. The board of directors of the company has recommended a dividend of Rs3.50 per equity share (175 per cent), subject to approval of shareholders.

For the year ended March 2007, Bharat Forge posted a net profit of Rs240.95 crore, up 16.4 per cent as compared to Rs206.96 crore for the year ended March 31, 2006. Total income (net of excise) for the year rose by 19.3 per cent to Rs1,945.29 cro re as against Rs1,630.95 crore last fiscal.
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ABB gets Rs289 cr order from Delhi Metro
Mumbai: ABB India has secured a Rs289 crore order from Delhi Metro Rail Corporation (DMRC) for the supply of electrification packages for the second phase of metro project.

The project includes electrification of overhead lines, provision of auxiliary sub-stations and a Supervisory Control And Data Acquisition (SCADA) solution interconnecting all the stations en-route and a back-up control centre. The second project is likely to be completed by early 2010, ABB said.

The first phase of the contract involved supply, installation, testing and commission of tractions electrification, power supply, power distribution and SCADA system for rail corridor.

Delhi Metro presently covers 65 km area at underground, elevated and surface levels with 59 stations in operation. Phase II aims to extend service to another 100 km with 75 stations.
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L&T to build regenerator for RPL
Mumbai: Engineering and construction major Larsen & Toubro's heavy engineering division-Hazira Works, has built the Fluidized Catalytic Cracking (FCC) regenerator and combustor, billed as the fifth largest in the world Reliance Petroleum Ltd's (RPL) export-oriented refinery at Jamnagar in Gujarat.

L&T officials said the project was completed six weeks ahead of schedule and is a repeat order placed on L&T by Reliance for the Jamnagar Export Refinery Project (JERP).

The company had previously built a similar FCC regenerators and combustors for Reliance Industries Ltd's (RIL) refinery in Jamnagar in 1998.
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Reliance to set up pharma unit at Jamnagar SEZ
Margao: Reliance Industries is eyeing the generics drugs segment through its fledgling company Reliance Pharmaceuticals Ltd (RPL) and is planning to set up a manufacturing facility at the special economic zone in Jamnagar, Gujarat.

RPL is a wholly-owned subsidiary of Reliance Life Sciences (RLS), founded by Mukesh Ambani. RLS operates in the biological products segment, while would look to tap the opportunity of generic pharmaceutical drugs going off patents.

Globally, over $65-billion worth of medicines are estimated to go off patents by 2010.

Though the company has provided no financial details on the new plant officials said the plant would would have a capacity of "several hundred tonnes" and has been built with an investment of "several hundred crores".
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TV18, Viacom enter into JV-Viacom-18
Mumbai: Indian media company Television 18 Group and New York-based global entertainment content company, Viacom Inc, a have joined hands in a 50:50 partnership to form a multi-platform entertainment company called Viacom 18.

As per the agreement MTV, Nickelodeon and VH1, operated by MTV Networks India, will now come under the newly formed company. MTV Networks is a 100 per cent subsidiary of Viacom in India.

In addition, all the forthcoming Hindi film productions, acquisitions and distribution ventures of Studio 18 (TV18 Group) will also form a part of the joint venture.

Viacom 18 will also launch a new Hindi-language general entertainment cable and satellite channel in India within the next one year.

The president and CEO of Viacom Inc, Philippe P. Dauman said, in addition to the company's portfolio of brands in India, it would launch "additional channels from MTV Networks family targeting niche audiences as well as new brands" in the near future under Viacom 18.

The Indian Film Company, sponsored by Mr Raghav Bahl, founder and promoter of TV18 group, is proposed to be listed on the Alternative Investment Market (AIM) of the London Stock Exchange.
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Piaggio to launch sub-one tonne four-wheeler
Mumbai: Piaggio Vehicles is all set to launch a sub-one-tonne four-wheeler within two months. The vehicle will be introduced through an exclusive dealer network in the country, wherein a separate chain of dealerships will promote the four-wheeler alongside its existing chain of three-wheeler outlets (230 dealers and 230 sales outpoints).

Ravi Chopra, managing director Piaggio said that it was the company's policy and decision to have exclusive focus for different range of products. Though the owner of a new retail outlet could be an existing Piaggio three-wheeler dealer, the new chain of dealerships would have a separate team, working capital, infrastructure, etc. The company has asked its existing chain of dealerships to set up a retail establishment with retail display space of 2,000 sq ft and 5,000 sq ft for the service bay.
Piaggio will introduce the vehicle in select areas initially.
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Reliance Communications slashes roaming rates by 70 pc
Chennai: Reliance Communications has slashed its roaming rates by 70 per cent and will charge calls between 40 paise and Rs1.20 a minute depending on the scheme chosen. This is the second time the company has slashed roaming rates this year, the first being in February. The company expects the cut to have a marginal impact on revenues.
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Tata Tele ready to offer VoIP
Bangalore: Tata TeleServices (TTSL), the telecom business of the Tata group, is ready to offer Voice over Internet Protocol (VoIP) services.

Domestic telecom service providers are currently not permitted to offer VoIP services.

Skype and search engine Google Talk offer the VoIP service free of cost, both of which are web-based. Google Talk currently is not available on PC to telephone. Skype Out allows for PC to telephone connection, though this is chargeable.

This has resulted in both Google and Skype grabbing a major share of the burgeoning market, leading to a downside pressure build up on international long distance routes especially between India, US and the continental routes. These routes have seen consistent increase in traffic, both data and voice.
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Dabur not to use Glucose-D: SC
New Delhi: Dabur India has been restrained by the Supreme Court from using the trade mark Glucose-D for its popular health drink since its packaging is identical to the product marketed Glucon-D owned by Heinz Italia.

The Supreme Court said that the packaging of Glucose-D is so similar to that of Glucon-D that it can easily confuse a purchaser.

The apex court passed the injunction on an appeal filed by Heinz Italia challenging the orders of the Punjab & Haryana High Court and a civil court both of which declined to pass any injunction against the ayurvedic company.
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Reliance Retail eyes Bata stores
Mumbai: Talks are said to be on between shoe retailer Bata and the Mukesh Ambani controlled Reliance Retail for a tie-up.

Reliance is planning to get into footwear retailing and is targeting a turnover of Rs3,000 crore from this segment in three years.

If the tie up fructifies Bata showrooms across India would retail the footwear brands planned by Reliance and in turn Bata brands will find space on Reliance Retail shelves.

Reliance is believed to be aggressively pushing for the deal because it would give them immediate access to a 1,000 plus Bata stores, across the country located mostly in prime shopping districts.

The two companies have been in talks for over a year now but no agreement seems to be in sight. Sources say that the sticking point has been Reliance's insistence on equity participation which Bata is unwilling to accept.
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