Automotive Switches And Batteries Maker Minda Industries - 30 Aug 08

Automotive switches and batteries maker Minda Industries Ltd (MIL) on Aug 29 declared setting up of a manufacturing facility at Bidadi, Bangalore to produce blow-moulding parts at an infusion of Rs 25 crore. The facility with an annual capacity of 6 lakh parts has been establishedin partnership with Indonesia-based, $400-million Kyoraku, which has a dominant presence in Japan and Indonesia. MIL will support the requirement of various car makers comprising Toyota from the new facility. The company said it is aiming a business of Rs 50 crore over the coming years.

Imperial Energy, Facing A Takeover By ONGC - 30 Aug 08

Imperial Energy, facing a takeover by ONGC, said on Aug 29 that it had reduced its losses during the first half of 2008. The Russia-focused British company said in an earnings release that its net loss stood at $18.9 million in the six months to June 30, compared with a loss after tax of $20.7 million during the first half of 2007. Indian state-run oil giant ONGC had Tuesday announced a $2.6-billion deal to buy Imperial Energy as it seeks new fuel sources to power the country''s fast-growing economy.

The bid by India''s biggest oil producer, Oil and Natural Gas Corp (ONGC) for Imperial Energy offered shareholders a 62 per cent premium on the stock price on July 11, the day before the company said it had received a takeover approach.

The Satyam Computer Services Four Potential Target - 30 Aug 08

The Satyam Computer Services has identified about four potential targets for takeover. All four acquisitions that the company is chasing are in the over $50 million range. The company began negotiating to these companies around two months ago. In these kinds of opportunities, it takes about 6-9 months to close the overall transaction. The company is currently talking to both IT as well as BPO companies. Satyam will want beef up its tentacles in the engineering services outsourcing and the remote infrastructure management space through acquisitions. Satyam is currently sitting on cash reserves of more than Rs 6,400 crore, which could be effectively positioned for future inorganic growth play, which has been an integral part of the growth strategy of Indian IT companies.

Moreover, valuations in the IT sector have headed southwards due to the recessionary trends across the globe; this has made acquisitions much more cheaper compared to 2006. However, this slowdown has resulted in some sections of the market doubting the ability of IT companies to live up to their promises of headcount addition, at least for this fiscal.

The New Marketing Strategy For Sale - 29 Aug 08

Heritage Foods India Ltd has informed that the Company has decided to adopt the new marketing strategy for sale of exclusive Dairy products of the Company by way of giving permission to third party (Franchisee) for opening of Heritage Dairy Parlour. Accordingly, 79 Heritage Dairy Parlours in various locations have been opened during the last quarter and more parlours are expected to add during the year in southern states of India. The status on number of Parlours opened in various locations is as below:

1. Heritage Dairy Parlours Location : Hyderabad
- Total No of Parlours Opened : 48

2. Heritage Dairy Parlours Location : Visakhapatnam
- Total No of Parlours Opened : 2

3. Heritage Dairy Parlours Location : Rajahmundry
- Total No of Parlours Opened : 7

4. Heritage Dairy Parlours Location : Tirupathi
- Total No of Parlours Opened : 6

5. Heritage Dairy Parlours Location : Chennai
- Total No of Parlours Opened : 11

6. Heritage Dairy Parlours Location : Bangalore
- Total No of Parlours Opened : 5.

General Motors Establishing Engine Plant In Talegaon -29 Aug 08

General Motors India is establishing an engine plant in Talegaon, Pune, near its car plant. The initial investment for the powertrain facility will surpass $200 million (Rs 874 crore). The engine plant will have an annual output capacity of 1,60,000, and it can be increased to three lakh engines a year. The GM India and Government of Maharashtra inked the MoU on Aug 28. This is in addition to $300 million the company has infused for the car manufacturing plant in the same location. With the investment in powertrain facility, GM''s total investment in India will be $1 billion. GM''s car manufacturing plant in Talegaon with an annual capacity of 1.4 lakh units, which is mainly meant for small cars, will be started on September 2. This will take GM''s total output capacity to 2.25 lakh. In addition to the Talegaon plant, GM has a plant in Halol, Gujarat, and a design centre in Bangalore.

BPCL : Result Of Postal Ballot - Aug 23 , 2008

Bharat Petroleum Corporation Ltd (BPCL) has informed that the shareholders of the Company by way of Postal Ballot have approved the proposal for amendment of the Memorandum of Association of the Company and Commencement of new Business.

Himalya International : Press Note - Aug 23 , 2008

Himalya International Ltd has informed that the Company has signed agreements with Bharti Wal-Mart-retail chain format as well as with their parent Company Wal-Mart for their cash and carry mega set-up store. Both are being operated separately and on separate formats.

Bharti Wal-Mart would be catering to the retail business through their mini-major and mega format stores, initially starting from Ludhiana, Jalandhar, Chandigarh and Amritsar. Wal-Mart would be basically looking after B2B business, retail and Kiryana set-ups with major emphasis on HORECA. Initial start is being made from North India.

Himalya International having established itself as one of the top Quality Exporter for food products to USA for last 12 years is entering the domestic market under the brand Himalya Fresh and is tying up with all major players in Retail chains including Reliance, More & Bharti-Walmart.

Government Considering Exclusive Authority - Aug 20, 2008

Chief Minister B.S. Yeddyurappa on Aug 19 announced that the State Government will soon come out with a policy to boost the semiconductor sector. Speaking after launching BangaloreIT.biz, 2008, the new look of the 11th edition of bangaloreit.in and bangaloreit.com series here, Mr. Yeddyurappa told the IT industry representatives that the Government will consider the suggestion to establish an exclusive authority for information technology (IT), biotechnology (BT) and nanotechnology (NT) to streamline the various government processes. The suggestion was put forward by N.R. Narayana Murthy, Chairman of the Board and Chief Mentor, Infosys. Mr. Murthy said that the authority should act as a single window agency for the IT, BT and NT companies and such an authority should have full powers and make government process without any "friction and make the lives of companies easier" to operate in the State.

Mr. Yeddyurappa also said the State Government will offer incentives, including exemption from stamp duty, registration fee and waiver of conversion fee for the IT companies that establish their business in the backward regions of the State. The Chief Minister announced that the annual IT event, which will be held from November 6 to 8, has been moved back to the Palace Grounds from Bangalore International Exhibition Centre on Tumkur Road following demand from the IT sector to organise the event in the city centre. Unlike in the previous year, this year''s IT event will focus on creating a business to business (B2B) platform for the industry to promote partnerships and forge alliance with leading players in domestic and international markets. For this purpose, dedicated business hours have been fixed while limiting the public visiting hours.

Telecom Regulator''s Proposal To Allow - Aug 20, 2008

The telecom regulator''s proposal to allow unrestricted Internet telephony comes as a huge relief for Internet service providers and the business process outsourcing industries. Both these segments have been demanding for this for more than four years. Welcoming TRAI''s decision, the Internet Service Providers Association of India (ISPAI) said, This forward looking step will enable customers to make domestic and international calls to mobile and fixed line users at a fraction of the current costs. When implemented, these path-breaking recommendations will go a long way in increasing India''s Internet and broadband penetration.

Nokia Launches N96 To Counter Iphones - Aug 20, 2008

Ahead of the launch of Apple''s inconic brand iPhone here, world''s largest mobile phone maker Nokia on Tuesday unveiled its new converged device N96 under its ''N Series'' stable. Apple and Nokia have not yet announced the prices of their models, but according to industry sources, both phones having 3G enabled features, which allow high quality net surfing, video and music download etc, would be priced in the same range.

The price of iPhones would also have an Indian component as it would be offered by the service providers Bharti Airtel and Vodafone Essar. While iPhone is likely to cost about Rs 31,000 for the 8 GB version, N96, which is expected to hit the Indian market by September, is likely to be priced above Rs 30,000. Though Nokia is quiet confident that the company''s sales would not be impacted by the launch of the iPhone in the country, experts tracking the sector feels Nokia is hurrying the launch of N96 in India to counter the hype associated with the iPhone. With a large 2.8-inch screen display, the phone packs 16 GB of internal memory, expandable up to 24GB. Though the phone would be available from September, consumers can pre-book the phone from across 2,000 Nokia outlets across the country from August 20.

Award Of Contract For Bartronics India - Aug 19 , 2008

Bartronics India Ltd has informed that the Company has been awarded a prestigious contract worth over Rs 400 crores, for providing Smart Cards by the Employees State Insurance Corporation. The contract is for district-wise operation of Smart Cards under the RSBY Scheme covering 609 districts across the country.

Orissa Government To Roll Out Of SWAN - Aug 19 , 2008

Spanco Telesystems & Solutions Ltd has informed that the Company has bagged a contract from Orissa Government to roll out of a State Wide Area Network (SWAN) across the state of Orissa. Under this contract Spanco, along with ITI will Build Own and operate a state wide network connecting 30 districts and 284 talukas in the state of Orissa, before transferring it to the State Government at the end of five years.

The total value of the Contract would be approximately Rs 70.00 Crores (Rupees Seventy Crores).

Indian Oil Mulls CDM Projects At Haldia Refinery - Aug 18 , 2008

IndianOil is mulling a host of projects at Haldia refinery to decrease refinery flare, vent air emission and steam consumption as a measure to protect the environment, generate carbon credits and promote the captive use of waste energy.

As many as three CDM (clean development mechanism) projects worth Rs 24 crore are in different stages of mulling and implementation to generate carbon credits and savings in cost of production by more gainful use of energy. Refineries produce gas during the fluid catalytic cracking and crude distillation process. The project is hoped to generate 17,500 CER (certified emission reduction) units.

The project will bring home revenue of around Rs 2 crore a year via trading of carbon credits. This apart the company will also save on the use of the captured gas in boilers, replacing the costlier naphtha. Plans are now being firmed up to start another CDM project of Rs 12 crore for decrease of steam consumption. The refinery uses naphtha to generate steam.

Emtec Acquires Trio Of IT Consulting Companies - Aug 18 , 2008

Emtec Inc. has acquired eBusiness Applications Solutions Inc., Aveeva Inc. and their India unit, Aviance Software India Private Ltd., through a stock transaction by Emtec''s subsidiary Emtec Global Services LLC. No other financial details were reported. Aveeva and eBAS, both of Fremont, Calif., provide a broad range of software consulting services, including business analysis, quality assurance, testing and training as well as SAP, customer relationship management and Oracle applications and Java-based solutions. Their markets include banking, financial services and insurance, retail, health care, and technology.

The acquisition accelerates the growth of Emtec Global Services that began with the acquisition of Luceo Inc. in March. This greatly enhances the software service capability of Emtec Global Services and continues to complement the enterprise infrastructure services provided by our Emtec Systems Division, including Emtec Federal.

Bpos Woo Nurses For Handling Healthcare Business - Aug 18 , 2008

Nurses in India have never had it so good. After being wooed by hospitals in the US and Gulf, now the Indian IT/ITes sector is opening their gates to these Florence Nightingales. Outsourcing firms in the healthcare and life sciences and insurance space have started recruiting nurses and para medics to do jobs that require these specializations. Although, a recent phenomenon, the trend started a few months back as BPO firms started providing end-to-end services to health insurance, pharma, medical devices and healthcare industries in the West. According to some estimates the total healthcare outsourcing services market is close to $30 billion today and is expected to grow at 10% over the next two-three years.

While companies started hiring nurses one year ago, no official marketing estimates on recruitment is available yet, say experts. Patni BPO for example, started recruiting nurses seven months back to handle long term care (LTC) management practice on behalf of insurance companies to manage medical care of elderly citizens in its Noida centre. As Sanjiv Kapur, Senior VP and Head Patni BPO, explains, "Nurses are involved in reviewing medical records, assessing risks, ensuring if medical check-ups are done on time.

Firstsource Secured A Six-Year Engagement With British Telecom - Aug 14 , 2008

Firstsource Solutions has secured a six-year engagement which could go up to $30 million with British Telecom Global Services (BTGS). Pipal Research, Firstsource''s US-based subsidiary, will offer knowledge process outsourcing services related to business research to BTGS; it will cover market, segment, country and customer research, proposition support and other numerical-analysis work. This alliance will give BTGS a tremendous competitive advantage and will allow BTGS Marketing to devise new products and services for the global markets faster than ever before. Pipal Research currently provides KPO and marketing process outsourcing services to more than 30 companies sectors such as financial services, technology, telecom, and investment banking.

Subhiksha Packaging Firms Licence Cancel By FDA - Aug 14 , 2008

Cracking the whip on leading retail chain Subhiksha, Maharashtra''s Food and Drug Administration (FDA) on Wednesday cancelled licences of its three packaging firms over hygiene issues at its warehouses. The Food and Drug Adminstration (FDA) finds Subhiksha guilty of unhygienic godowns.Subhiksha licence would be suspended for 20 days from August 20 to September 8. Subhiksha can now appeal to the division bench of Bombay HC. Stores across Maharashtra will have to remain shut for 20 days. Subhiksha says it will appeal to the High Court right away.

The original FDA order was put out in May 2008. Original FDA order has said Subhiksha stores across Maharashtra will be shut for 10 days. This original FDA order was stayed after Subhiksha''s appeal to the Bombay HC. It''s the same order, which has resurfaced and now will be appealed against again by Subhiksha.

LIC Aims To Sell 4mn Policies In Current Financial Year - Aug 14 , 2008

Life Insurance Corporation of India (LIC) has set an aim of selling four million policies in rural areas in the current financial year. It sold over 5 crore insurance policies last year, of which over 1.1 crore went to rural areas. LIC said that two years ago, the insurer had sold 8 lakh policies via its alliance with NGOs, micro-finance organisations, co-operative societies and rural banks. The insurance penetration in urban India is 47 per cent, while it is only 27 per cent in rural areas. The rural and informal sectors are not a homogenous category and are geographically dispersed. It has been calculated that if the cost of a policy is Rs 300-400, the distribution cost is double. A panel chaired by former LIC chairman, NM Govardhan recently suggested new sales channels for retail insurance products with adequate safeguards. Importantly, it broadened the definition of a micro-insurance agency to comprise rural kiosks and other rural distribution networks. The rural kiosk can be a revolutionary new point of service delivery. Whether a makeshift stalls, or a multipurpose store offering other services, the kiosks too are owned by entrepreneurs who need individual risk cover apart from their potential role as micro-insurance agents.

WHO, Zydus Ink Agreement To Develop Drugs For Rabies - Aug 13 , 2008

Cadila Healthcare Ltd (Zydus Cadila) has forayed into a pact with World Health Organisation (WHO) to explore collaboration in the development of a cocktail for the treatment of rabies, via the use of monoclonal antibodies (MAbs), the next-generation biologicals.

The WHO will be giving monoclonal antibodies capable of neutralising rabies virus and genetic sequences thereof, for valuation at the Zydus Research Centre, the research arm of the pharmaceutical major here.

The development and commercialisation of the cocktail will, among others, be designed to get its wide availability to the public, comprising in particular its availability to the public sector of developing countries at a preferential price. Zydus Cadila, said the new therapy holds much assure as it will address a critical need and enable the company to offer a complete range of rabies therapeutics at an affordable cost. Zydus Cadila manufactures and markets rabies vaccines known as VaxiRab and LyssavacN.

Teva Takes Back Case Against Dr Reddy''s - Aug 13 , 2008

Pharma major Dr Reddy''s Laboratories Ltd has benefited an upper hand in the on-going patent dispute on cardio drug carvedilol with Israeli drug-maker Teva, as the latter took back its case on Dr Reddy''s in the US. The Hyderabad-based pharma major will now be free to sell carvedilol, used for the treatment of heart ailments, in the US market. It was a long battle for Dr Reddy''s. On June 2007, Teva sued Dr Reddy''s, alleging infringement of four Teva carvedilol patents. Three of the patents relate to processes for making particular polymorphic forms of carvedilol, and the last relates to specific crystalline forms of carvedilol. Dr Reddy''s conceived that the patents did not cover its process or product, and when it could not convince Teva to drop the case, moved for summary judgment with respect to each of the four patents. The first motion, filed October 12, 2007, was directed towards the invalidity of two claims of one of the patents.

Teva later pledged not to sue on the remaining claims of the same patent, and the Court dismissed Teva''s infringement claims on that patent with prejudice on June 9, 2008. Dr Reddy''s moved for summary judgment of non-infringement of the patent, claiming a particular crystalline form of carvedilol, and after the motion was fully briefed, Teva provided another covenant not to sue.

RIL To Commence Crude Production From KG Basin Next Month - Aug 13 , 2008

With a FPSO (Floating, Production, Storage and Offloading) vessel set to stream into Kakinada from Singapore shortly, Reliance Industries Ltd is preparing to extract crude from its Krishna Godavari basin wells by the second half of September. This will be the first deepwater well in the country to produce crude. The FPSO handled by Aker of Norway is being built at Jurong Shipyard, Singapore, and is being leased by RIL for a three-year period. The MA Fields in the D-6 block in the KG basin will produce about 40,000 barrels a day. After the FPSO moves to Kakinada shores from Singapore, within a couple of weeks they hope production to start from these wells. Initially, it could be about 15,000 barrels a day to be gradually increased to 40,000 barrels a day.

Tata Indicom Mulls To Set Up - Aug 12 , 2008

Tata Indicom is planning to open at least 100 low-cost retail outlets in the rural areas and small towns of Andhra Pradesh in the next two months to increase its presence. The company, presently having 2.8 million subscriber base in the State, desired to cross the three-million mark as soon as possible and by the end of the financial year we want to get as close as possible to the four-million mark.

Tata Indicom was infusing Rs 140 crore in the State in enhancing its network. The company was present in 482 places in the State and services will be launched in 68 more places within the next two months.

The survey conducted by the Telecom Regulatory Authority of India (TRAI) had stated that the Tata Indicom''s network in Andhra Pradesh was the least congested and therefore, they are confident of giving quality service to the customer.

Honda Unveils Civic Sport At Rs 12.36 Lakh - Aug 12 , 2008

Premium carmakers, Honda Siel Cars India, unveiled a limited edition sport variant of its executive sedan Honda Civic. This special sport edition comes at a time when Honda crosses 3 lakh unit sales in India. Honda''s Civic Sport is powered by 1.8 L i-VTEC engine and is being offered in manual transmission only. This variant was displayed at the Delhi Auto Expo in January. The company is selling this model at Rs 12.36 lakh (ex-showroom, Delhi).

Lawson Software Expands Footprint, Launches India Office - Aug 12 , 2008

Lawson Software, global provider of Enterprise Resources Planning (ERP) solutions and applications, today announced its expansion into the South Asia market with the opening of a new office in India. The opening of the new office in New Delhi is part of the firm''s business strategy to expand its presence in the region and atract additional regional partners here, Harry Debes, President, CEO, Lawson Software told reporters.

The St Paul, Minnesota-based company which has 4000 customers globally and serving customers in India and Sri Lanka through partenrships with Symphony Services and ETP International, plans to draw on the expertise of more local partners and provide sales and marketing support via its new office in India, he said. The new office will bring Lawson and its industry-specific enterprise software closer to customers in Asia South, particularly mid-tier companies, including those in food and beverage, fashion and distribution industries, he said. Lawson has more than 400 customers in Asia and is planning to expand its customer base in the growing economies of South Asia region, including Sri Lanka, Bangladesh and Pakistan.

Spicejet - Infusion Of US$ 100 Million In The Company - Aug 11 , 2008

Spicejet Ltd has informed that the Company, its shareholders RHSL, Istithmar and Ajay Singh and Goldman Sachs, in its capacity as a bondholder of the Company, on August 11, 2008 have entered into definitive agreements with WL Ross & Co. LLC. This will result in infusion of approximately USD 100 Million in the Company for its business requirements.

Furthermore, Goldman Sachs has agreed to subscribe to equity warrants of the Company under the preferential issue guidelines of SEBI subject to receipt of requisite approvals.

Venus Remedies Launches Its Fourth Research Product - Aug 11 , 2008

Venus Remedies Ltd has informed that the Company has successfully launched its fourth Research Product, a Fixed Dose Combination of Cephalosporin with aminoglycoside under the Brand name TOBRACEF in Domestic Market for the first time globally.

SEL Manufacturing Extent Of Appx. 1.1 Million Pieces - Aug 09 , 2008

SEL Manufacturing Company Ltd has informed that the Company has received an Export Order for exporting readymade garments i.e. innerwears to the extent of appx. 1.1 million pieces from the party in Russia. The above said order is in addition to the regular business transactions of the Company and will bring greater strength to the Company. The order strengthens the customers confidence in SELs progress in textile sector.

Allahabad Bank Has Approved Upward Revision In BPLR - Aug 09 , 2008

Allahabad Bank has informed that the Board of Directors of the Bank at its meeting held on August 08, 2008, has approved upward revision in BPLR from existing rate of 13.50% to 14% w.e.f. August 08, 2008.

However, the above change in BPLR will not be passed on to the existing Housing Loan, Personal Loan, Education and Car / Auto Loan customers. Moreover the above change in BPLR will also be not applicable to the new housing loans up to Rs 30 lacs.

Ahluwalia Contracts India Informes Way Of Postal Ballot - Aug 08 , 2008

Ahluwalia Contracts India Ltd has informed that the Members of the Company, by way of postal ballot, have approved the Ordinary Resolutions, pursuant to Section 293(1)(a) of the Companies Act, 1956 for Sale / Transfer of RMC Division - Undertaking u/s 293(1)(a) of the Companies Act, 1956 to New Company - Ahlcon Ready Mix Concrete Pvt Ltd, Wholly owned subsidiary Company, with requisite majority.

Kale Consultants Has Passed A Resolution Approving The Grant - Aug 08 , 2008

Kale Consultants Ltd has informed that the Remuneration and Compensation Committee of the Board of Directors of the Company has passed a resolution approving the grant of upto 900,000 options under Kale Consultants Ltd Employees Stock Option Scheme, 2006 to employees and non promoter directors of the Company and its subsidiaries.

- Vesting: 30% of the options granted shall vest on completion of one year from the date of grant and the balance 70% of the options granted shall vest equally over a period of 8 quarters on a quarterly basis starting from the end of 15th month from the date of grant.

- Exercise Period: The options shall be exercised within a period of 2 years from the date of vesting.

- Exercise Price: Exercise Price of the options granted is the closing market price on the on the National Stock Exchange of India Ltd on the date of grant.

Lotus Chocolate : Open Offer - Aug 08 , 2008

CIL Securities Ltd (Managers to the Offer), on behalf of Shri Peraje Prakash Pai and Shri Peraje Anantha Pai (Acquirers) has issued this Public Announcement (PA) to the equity shareholders of Lotus Chocolate Company Ltd (Target Company), pursuant to Regulation 10 & 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 1997 and subsequent amendments thereto (Regulations).

The Acquirer is hereby making this PA of the Offer, to acquire up to 25,68,210 equity shares of Rs. 10 each representing 20% of the issued, subscribed and paid up equity share capital of Target Company from the public shareholders at the Offer Price i.e. Rs. 16/- (Rupees Sixteen only) per fully paid up Equity Share (offer price) payable in cash (which is higher than the negotiated price and is in compliance with the Minimum offer price payable under Regulation 20(5) of the Regulations) subject to the terms and conditions, mentioned in the PA.

Schedule of Activities:

Specified Date - August 02, 2008
Date of Opening of the Offer - September 01, 2008
Date of Closing of the Offer - September 19, 2008

Union Bank, Indusind Increase Lending Rates - Aug 07 , 2008

Union Bank of India and IndusInd Bank have increased their prime lending rates by 75 basis points. This will lead to a hike in the interest rates of floating loans. Union Bank of India hiked its benchmark prime lending rate to 14 per cent from 13.25 per cent with effect from August 8. IndusInd Bank hiked its PLR to 17 per cent from 16.25 per cent. In case of IndusInd Bank, all loans except those under the consumer finance division would be impacted by the hike. Other banks and institutions that have increased PLR after RBI''s latest rate hikes include ICICI Bank, HDFC, Punjab National Bank, Axis Bank, IDBI Bank and YES Bank.

Tatas Eye 30,000 Nanos A Month - Aug 07 , 2008

Trinamool Congress supremo Mamata Banerjee notwithstanding Tata is staying the course with its Nano strategy and gearing up for the big rollout in the October-December quarter. The company wants to eventually look at selling up to 30,000 cars a month, a massive target given that the current bestsellers from Maruti at best manage a third of that tally.So hoping that the Singur row gets resolved, Tata is beginning its dealer network expansion inviting interest for new dealerships in high density areas like the national capital region.

New dealers are especially being sought where the demand for Nano is expected be high and these could be areas which may already have existing Tata dealers.Tata is expected to offer the Nano for sale through all its dealers. Only some dealers - or franchisee outlets may be exclusively for the Nano.The company will maintain only a select list of dealers that will sell Tata and Fiat cars alongside.But even as the official line remains diplomatic internally the company is readying a backup plan for the ''what if'' scenario. If Singur goes up in flames Tata will not be in a position to meet its commitment of rolling out the Nano in this calendar year.

Tata also has a relatively newer plant in Pantnagar, Uttarakhand where a new line could be introduced to manufacture the Nano.But the truth is that Tata needs Singur to fall in to place and quickly or else not only will its domestic volumes plan for the Nano go awry but its export model might also have to be pushed beyond 2010.

JSW Steel Not To Hike Prices This Month - Aug 06 , 2008

JSW Steel on August 5 said it will not increase prices of its products after the agreed moratorium with the government ends on August 7. The decision of the private company to hold the price line emanates from the fact that global steel prices have softened by $100 per tonne in the last 15 days. On May 7 steel makers had promised to the government to hold the priceline for three months ending August 7. The move was at helping the government tame inflation that stood at 11.98 for the week ended July 19.

Jindal had only on July 31 said certainly there will be some increase in steel prices from August 8 since the gap between the global and domestic steel prices had widened by $350 per tonne. JSW Steel had suffered a decline in its net profit in Q1 FY''09 to Rs 219.35 crore, against Rs 468.45 crore in the year-ago period on a net sales of Rs 3,671.49 crore, still an increase by 54 per cent over the same period last year. Jindal had attributed the dip in the company''s bottom line to the agreed moratorium.

HM To Roll Out Small CV In October - Aug 06 , 2008

Hindustan Motors Ltd (HM) is all set to unveil a small commercial vehicle in October this year. The vehicle will be manufactured at the company''s Uttarpara factory. During the ensuing festive season, HM will also launch the high-end Outlander vehicle from the Mitsubishi stable. It will be priced at around Rs 20 lakh. During the year ended March 31,2008, HM has posted a higher net profit of Rs 30.84 crore, against Rs 13.30 crore in in 2006-07. The company notched a total income of Rs 677.89 crore in 2007-08, against Rs 635.34 crore in 2006-07.

India Emerging As Low-Cost Development Hub - Aug 06 , 2008

India is fast emerging as a hub where domestic and multinational corporations (MNCs) are busy churning out a host of low-cost, entry-level products for emerging markets.

This is the biggest untold story about India," Rajdeep Sahrawat, vice president of Nasscom, said ZDNet Asia in a phone interview. Nasscom is India''s trade body and chamber of commerce of the country''s IT-BPO industry. From laptops to mobile phones, and from cars--such as the US$2,500 Tata Nano to motorcycles and consumer durables, India is now home to several low-cost innovations. Both Indian and multinational companies are going the whole hog in utilizing India''s talent pool for developing low-cost products.

From mobile handset manufacturers such as Nokia and Motorola, to IT majors Hewlett Packard (HP) and Dell Computer, and automobile manufacturers such as General Motors and Suzuki Motor, manufacturers from various industries have set up research and development (R&D) centers that focus on developing entry-level products.

Tn Gets New Ict Policy - Aug 05 , 2008

M Karunanidhi, Chief Minister (CM) of Tamil Nadu recently released Information and Communication Technology (ICT) Policy 2008-09 for the state. The CM handed over the first copy of the ICT policy to A Raja, Union Minister for Communications and Information Technology (CII). The policy aims at making Tamil Nadu the IT hub of South Asia by 2011 by creating a knowledge driven ecosystem leveraging entrepreneurship and promoting socially inclusive growth to achieve a 25 percent production share of the Indian ICT industry.

At present Tamil Nadu has 11 percent share, at $5.7 billion of the total ICT production of $51 billion. The new policy comes after a gap of almost six years and aims to create approximately three million jobs directly and indirectly. Vision 2011 predicts the creation of opportunities to employ 0.8 million directly in IT firms and another 2.2 million indirectly. ICT services and ICT manufacturing sectors are expected to employ 0.7 million and 0.1 million people respectively.

Tanu Healthcare To Change Its Name - Aug 05 , 2008

Tanu Healthcare has approved the change of name in the company from Tanu Health Care to Socrus Bio Sciences.

The company made this announcement during the trading hours today, 05 August 2008.

Subex Customer Base Reaches 200 Deployments - Aug 04 , 2008

Subex, a leading global provider of operations and business support systems for communications service providers has announced that it has crossed the 200 customer mark worldwide. The current count of customers stands at 202, with 300 installations, covering leading telecommunications service providers across the globe.

Customers include providers who offer a wide range of services, including voice, video and data across both legacy and next-generation infrastructures. The Europe, Middle- East and Africa regions hold the maximum number of customers, followed by the Americas and APAC. Subex's customer deployment progress is consistent with its position as market share leader in revenue management solutions including fraud management and revenue assurance. The deployment milestone also reflects the company's achievements in providing fulfillment solutions that enable operators to accelerate and automate the delivery of next-generation services such as broadband, IPTV, Metro Ethernet, WiMAX and others.

Innovation is key to the Subex solution portfolio. This is evident in Subex's revenue operations centre, the ROC, which is a centralized framework for end-to-end control of a service provider's revenue and costs, fostering operational dexterity for sustained profitability. Like a network operations center ensures the health of the network, a ROC ensures the integrity of a telco's revenue streams, processes and improves visibility of the financial impact of the enterprise’s operations.

The company made this announcement during the trading hours today, 04 August 2008.

ACC Produces 1.73 Million Tonnes Of Cement - Aug 04 , 2008

ACC produced 1.73 million tonnes of cement and despatched 1.71 million tonnes of cement during July 2008 as compared to 1.63 million tonnes produced and 1.64 million tonnes despatched during July 2007.

The company made this announcement during the trading hours today, 04 August 2008.

Rock Hard Petrochemical Enters Into MOU With Swastik Export - Aug 02 , 2008

Rock Hard Petrochemical Industries has announced that during the month of July the company have entered into a MOU with Swastik Export, Mumbai, for purchase of jewellery, gems and other precious stones valued at Rs 1920 million. The company has advanced Rs 3.5 million towards the refundable earnest money.

The company has acquired a piece of land, which is rich in Iron Ore. As per agreement dated 16 July 2008 the company has acquired the said land admeasuring 270 Acres at Village Padrewadi & Honewari, in Taluka Aajara, District Kollhapur, in state of Maharashtra. The land is acquired at a cost of Rs 170 million. The company has advanced Rs 1.5 million towards the earnest money. As per the terms the entire payments have to be made within a period of 12 months from date of agreement. As per the companies plan the land admeasuring around 50-70 acres will be used towards the expansion plan for petrochemical business.

The company made this announcement after the trading hours on Friday, 01 August 2008.

Birla Corporation To Establish Cement Plant In MP - Aug 01 , 2008

Birla Corporation will establish a 3-million tonne greenfield cement manufacturing project at Satna in Madhya Pradesh, entailing an investment of Rs 1,200 crore. The plant, expected to be operational within two years, will be established on 2,000 acres near its existing cement plant in Satna. The new plant, along with proposed expansion in existing factories, will boost output capacity to 10 million tonnes (mt) by 2011, up from the current 5.3 mt, he added.

The government of Madhya Pradesh is currently working on allotment of limestone mines to them. The land acquisition will begin once the allotments of limestone mining lease were received. The Birlas had earlier inked a memorandum of understanding with the Madhya Pradesh Government.

The company is also eyeing to expand its existing plants at Satna, Chanderia in Rajasthan, and Durgapur in West Bengal. The stream of brownfield projects would raise our capacity to 7.5 mt by June 2009.

Indo Green - Post Offer Status - Aug 01 , 2008

Systematix Corporate Services Ltd (Manager to the Offer) on behalf of Industrial Investment Trust Ltd (Acquirer), has issued this Post Offer Public Announcement to the Equity Shareholders of Indo Green Projects Ltd (Target Company), which is in continuation of & should be read in conjunction with the Public Announcement (PA) dated May 05, 2008 & June 25, 2008, in terms of Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (Regulations), to acquire upto 9,98,180 equity shares of Rs 10/- each representing 20% of the voting capital of Target Company at a price of Rs 38/- (Offer Price) payable in cash are as under.

Sr. No. Particulars Proposed in the Offer Document Actual 1. Offer Price Rs 38 per Fully paid-up Equity shares Rs 38 per Fully paid-up Equity Shares Number (%) Number (%) 2. Shareholding of Acquirer(s) before MOU / PA Nil Nil Nil Nil 3. Shares acquired by way of MOU or Market Purchases 25,03,900 50.17% 25,03,900 50.17% 4. Shares acquired in the open offer 9,98,180 20.00% 9,98,180 20.00% 5. Size of the Open Offer (No. of shares multiplied by Offer price per share) Rs 3,79,30,840 Rs 3,79,30,840 6. Shares acquired after PA but before 7 working days prior to closure date, if any Nil Nil Nil Nil 7. Post offer Shareholding of the Acquirer (s) (2+3+4+6) 35,02,080 70.17% 35,02,080 70,17% 8. Pre & Post Offer Shareholding of Public Pre Offer Post Offer Pre Offer Post Offer 24,87,000 (49.83%) 14,88,820 (29.83%) 24,87,000 (49.83%) 14,88,820 (29.33%)