Mahindra & Mahindra said on July 30 that the company has formed a joint venture with Kinetic Motors for its foray into two-wheeler market. M&M will hold an 80 per cent stake in the JV for Rs 110 crore. The deal will help in capturing share in Indian and global two-wheeler market. Mahindra seemed particularly upbeat about the two-wheeler industry and said that it is the right time to enter two-wheeler business. Anoop Mathur would be the CEO of the joint venture and it would buy-out all Kinetic Motor assets and patents.
Thursday, July 31, 2008
Sraeli Political Lobby Backing Home Grown Taro - July 31 , 2008
Sun Pharma''s proposed takeover of Taro Pharmaceuticals is already facing problems from investors but now it could get worse with the Israeli political lobby backing home grown Taro. In a letter to Israeli Minister of Industry, Trade & Labor, Eli Yishai, the Mayor of Haifa, Yona Yahav has raised concerns that Taro sale will cost 650 jobs in Israel as Sun Pharma might transfer Taro facilities to India. However, in a regulatory filing, Sun Pharma has said it has no plans to close Taro''s Israeli facilities and it is ''committed'' to maintain and enhance Taro plants.
Sun Pharma has alleged that current Taro management is underutilising its facilities and has considerably reduced its investment into R&D. All the government will try to be protect jobs. Sun Pharma will also have to come out in amicable way. Taro promoters have already moved to Israeli courts seeking higher bids from Sun Pharma. CLSA in its latest report has mentioned that Sun Pharma might have to shell out extra from its current offer of $7.75 a share. Though Templeton recently indicated a price of US$20 a share as fair value for Taro acquisition, analysts say with Sun-Taro matter partly in courts and political lobbying for Taro, things might get even worse than anticipated for the Indian pharma company.
Sun Pharma has alleged that current Taro management is underutilising its facilities and has considerably reduced its investment into R&D. All the government will try to be protect jobs. Sun Pharma will also have to come out in amicable way. Taro promoters have already moved to Israeli courts seeking higher bids from Sun Pharma. CLSA in its latest report has mentioned that Sun Pharma might have to shell out extra from its current offer of $7.75 a share. Though Templeton recently indicated a price of US$20 a share as fair value for Taro acquisition, analysts say with Sun-Taro matter partly in courts and political lobbying for Taro, things might get even worse than anticipated for the Indian pharma company.
Wednesday, July 30, 2008
Nalco May Close Orissa Facility - July 30 , 2008
National Aluminium Co (Nalco) is facing a major coal scarcity. Currently, the company is running alumina refinery at half its capacity and likely to be forced to close the unit in a few days if the condition does not improve. The company is making daily cash loss of Rs 2.5 crore due to slashing of production. If the situation continues, the company likely to completely close the 1.6- million-tonne alumina refinery located at Damanjodi in south Orissa in a few days.
The unit, on an average, consumes 2,500 tonnes of coal to produce heat for the refining process. But for last ten days, there is no supply of coal to the unit from the linked mines in Talcher and Brajarajnagar under Mahanadi Coalfields (MCL), which has precipitated the crisis. The company has decreased its refinery operations by more than 50 per cent. From a daily average production of 4,500 tonnes, it is now producing only 2,000 tonnes. The unit, at its present decreased capacity, consumes around 800-900 tonnes coal per day.
The unit, on an average, consumes 2,500 tonnes of coal to produce heat for the refining process. But for last ten days, there is no supply of coal to the unit from the linked mines in Talcher and Brajarajnagar under Mahanadi Coalfields (MCL), which has precipitated the crisis. The company has decreased its refinery operations by more than 50 per cent. From a daily average production of 4,500 tonnes, it is now producing only 2,000 tonnes. The unit, at its present decreased capacity, consumes around 800-900 tonnes coal per day.
Apple Has Set Up An gApologetic Blog - July 30 , 2008
Apple has set up an apologetic blog devoted to solving the problems of its recently launched MobileMe service. It follows a barrage of criticism of the service, which connects Apple devices to e-mail, contacts and online storage.
In posts over the weekend, the firm admitted to fixing "over 70 bugs" but that 10% of e-mail might have been lost for good. It said the problem affected just 1% of customers.
The MobileMe service launched two weeks ago at the same time that the firm rolled out its 3G iPhone. It is Apple''s answer to the new phenomenon of "cloud computing", in which information is stored on a remote server and updated via any device that is hooked into the cloud. But some customers of the new service found that they were unable to send or receive e-mails. Others had issues in synching up their devices. As criticism mounted on the blogosphere, Apple was forced to open up about teething problems with the service. The opening post of its MobileMe blog revealed that the information updates had been ordered by Apple boss Steve Jobs.
In posts over the weekend, the firm admitted to fixing "over 70 bugs" but that 10% of e-mail might have been lost for good. It said the problem affected just 1% of customers.
The MobileMe service launched two weeks ago at the same time that the firm rolled out its 3G iPhone. It is Apple''s answer to the new phenomenon of "cloud computing", in which information is stored on a remote server and updated via any device that is hooked into the cloud. But some customers of the new service found that they were unable to send or receive e-mails. Others had issues in synching up their devices. As criticism mounted on the blogosphere, Apple was forced to open up about teething problems with the service. The opening post of its MobileMe blog revealed that the information updates had been ordered by Apple boss Steve Jobs.
Tuesday, July 29, 2008
Ratan Tata Plans To Revive Daimler - July 29, 2008
Tata Motors, the auto arm of Indian conglomerate Tata, which recently acquired Jaguar and Land Rover, plans to revive luxury car marque Daimler, a media report said on Monday. Ratan Tata, head of the Indian conglomerate that bought the marque as part of its 2.3 billion dollar purchase of Ford''s luxury brands, told investors that he was deciding whether to resurrect the Daimler brand. Tata has earmarked 1 billion pounds to develop new models at the UK-based manufacturers, it added. The auto maker "wants to transform Daimler into a super- luxury marque to compete directly with Bentley and Rolls- Royce.
According to the report, David Smith, chief executive of Land Rover and Jaguar, suggested recently that both Jaguar and Land Rover would be taken further upmarket to the 100,000 pounds plus price bracket. A Tata spokesman said it was too early to say whether Daimler would be part of those plans. Jaguar shares the rights to the Daimler name with Daimler AG, the German car manufacturer created last year when DaimlerChrysler was split up and its American operations were bought by Cerberus Capital Management, the private equity firm. At present the Daimler badge is restricted to the most expensive Jaguar model - the Daimler super Eight, which has a list price of 80,000 pounds.
According to the report, David Smith, chief executive of Land Rover and Jaguar, suggested recently that both Jaguar and Land Rover would be taken further upmarket to the 100,000 pounds plus price bracket. A Tata spokesman said it was too early to say whether Daimler would be part of those plans. Jaguar shares the rights to the Daimler name with Daimler AG, the German car manufacturer created last year when DaimlerChrysler was split up and its American operations were bought by Cerberus Capital Management, the private equity firm. At present the Daimler badge is restricted to the most expensive Jaguar model - the Daimler super Eight, which has a list price of 80,000 pounds.
Ranbaxy launches generic Omeprazole capsules - July 29 , 2008
Ranbaxy Laboratories on July 28 said it has launched the generic version of Omeprazole capsules, used in the treatment of acid related diseases in the US healthcare system. Ranbaxy Pharmaceuticals Inc (RPI), the wholly-owned subsidiary of Ranbaxy Laboratories under an agreement with AstraZeneca Pharmaceuticals has launched an authorised generic of Omeprazole 40 mg capsules in the US.
RPI welcome the opportunity to market an authorized generic of Omeprazole 40 mg capsules that will be commercialised immediately to all classes of trade in the US healthcare system under Ranbaxy lebel. RPI is engaged in the sale and distribution of generic and branded prescription products in the US healthcare system.
RPI welcome the opportunity to market an authorized generic of Omeprazole 40 mg capsules that will be commercialised immediately to all classes of trade in the US healthcare system under Ranbaxy lebel. RPI is engaged in the sale and distribution of generic and branded prescription products in the US healthcare system.
Monday, July 28, 2008
Hackers Get Hold Of Critical Internet Flaw - July 28 , 2008
Internet security researchers have warned that hackers have caught on to a ''''critical'''' flaw that lets them control traffic on the Internet. An elite squad of computer industry engineers that laboured in secret to solve the problem released a software ''''patch'''' two weeks ago and sought to keep details of the vulnerability hidden at least a month to give people time to protect computers from attacks. ''''We are in a lot of trouble,'''' said IOActive security specialist Dan Kaminsky, who stumbled upon the Domain Name System (DNS) vulnerability about six months ago and reached out to industry giants to collaborate on a solution. ''''This attack is very good. This attack is being weaponised out in the field. Everyone needs to patch, please,'''' Kaminsky said.
DNS is used by every computer that links to the Internet and works similar to a telephone system routing calls to proper numbers, in this case the online numerical addresses of websites. The vulnerability allows ''''cache poisoning'''' attacks that tinker with data stored in computer memory caches that relay Internet traffic to its destination. Attackers could use the vulnerability to route Internet users wherever the hackers wanted, no matter what website address is typed into a web browser.
DNS is used by every computer that links to the Internet and works similar to a telephone system routing calls to proper numbers, in this case the online numerical addresses of websites. The vulnerability allows ''''cache poisoning'''' attacks that tinker with data stored in computer memory caches that relay Internet traffic to its destination. Attackers could use the vulnerability to route Internet users wherever the hackers wanted, no matter what website address is typed into a web browser.
NMDC-CMDC To Expedite Work At Chhattisgarh Mine - July 28 , 2008
NMDC-CMDC Ltd, the alliance between State-run National Mineral Development Corporation and Chhattisgarh Mineral Development Corporation (CMDC), has decided to speed up work on Deposit Number 13 of the Bailadila mines in Chhattisgarh. The deposit has around 300 million tonnes (mt) of high-grade iron ore, but as they begin exploration the quantity of minable ore is expected to increase.
The alliance, in which NMDC holds 51 per cent and CMDC the rest, was registered earlier this year. The debt-equity ratio for the proposed investment would be 2:1 and the project will have an annual capacity of 10 mt. The mine will meet the needs of the steel, sponge iron or pellet plants that have been set up or which are likely to come up in the Bastar region of the State. The mine is also hoped to cater to customers outside Chhattisgarh after meeting the State''s requirement and this would include any short-lifted or un-lifted quantities.
The alliance, in which NMDC holds 51 per cent and CMDC the rest, was registered earlier this year. The debt-equity ratio for the proposed investment would be 2:1 and the project will have an annual capacity of 10 mt. The mine will meet the needs of the steel, sponge iron or pellet plants that have been set up or which are likely to come up in the Bastar region of the State. The mine is also hoped to cater to customers outside Chhattisgarh after meeting the State''s requirement and this would include any short-lifted or un-lifted quantities.
Saturday, July 26, 2008
Rolta Included In S&P 2008 Global Challengers List - July 26, 2008
Rolta has been included in the S&P Global Challengers ListTM by Standard & Poor’s (S&P). The S&P Global Challengers ListTM identifies 300 mid-size companies worldwide with a total market capitalization between US$ 1 to 5 Billion and have shown the highest growth characteristics. These companies are supposed to emerge as challengers to the world’s leading companies. Rolta is one of the two companies from India that have made it to this list.
The S&P Global Challengers ListTM of 2008 covers companies from all over the world and is based upon a robust methodology based with consistent standards applied to multiple countries. Two metrics of extrinsic growth – positive three-year share price appreciation and positive three-year sales growth – are used in conjunction with two metrics of intrinsic growth – positive three-year EPS growth and positive three-year employee growth, to arrive at this list.
According to the S&P report “Mid-caps positioned in the markets sweet spot – High growth mid-cap companies possess a strategic advantage relative to firms of smaller or larger sizes, having survived beyond their startup phases and offering stability as well as future growth opportunities. Having overcome the growing up pangs of small firms while possessing room for growth and expansion, mid-caps offer the best potential pool of companies, which could indeed be tomorrow’s leaders.”
According to Mr. K. K. Singh, Chairman & Managing Director, “We are extremely gratified by this recognition. Being selected as one of the two companies from India, that are part of The S&P Global Challengers ListTM 2008, is a further endorsement of our strong platform, cohesive strategies and unique business model, which have enabled us to grow consistently and placed us in an exceptional position to address large opportunities in India and internationally.”
About Rolta:
Rolta is an Indian multinational, which has executed projects in over 40 countries. The Company is in the area of Defence, Government, Infrastructure and Security markets, worldwide. Rolta serves its markets by providing innovative solutions in Geospatial Information Systems (GIS); Engineering & Design Services (EDS); and Enterprise Information & Communications Technology (EICT), which includes Software Development, Advanced Security, Network Management, Oracle Apps, ERP Consulting and Business Intelligence.
Headquarter of the company is in Mumbai, and it employs more than 5,000 professionals with a countrywide infrastructure and international subsidiaries all over the world.
The Company has benchmarked its quality processes with the world''s best quality standards. It is accredited with the prestigious BSI ISO/IEC 27001:2005 certification. Forbes Global has ranked Rolta amongst the "Best 200 Under a Billion" for four times in six years. Rolta has been included in the S&P Global Challengers ListTM 2008, by Standard & Poor’s. This List identifies 300 mid-size companies worldwide that have a total market capitalization between US$ 1 to 5 Billion and have shown the highest growth characteristics along dimensions encompassing intrinsic and extrinsic growth.
The Company is listed on the NSE in cash and F&O segment and forms part of CNX IT, NIFTY Midcap 50 and CNX 500 indices. The Company is also listed on BSE ''A'' group and forms part of BSE Midcap, BSE 200, BSE 500, BSE IT and BSE TECK indices. The Company''s GDR is listed on the Main Board of London Stock Exchange and its FCCB''s are listed on the Singapore Stock Exchange.
The S&P Global Challengers ListTM of 2008 covers companies from all over the world and is based upon a robust methodology based with consistent standards applied to multiple countries. Two metrics of extrinsic growth – positive three-year share price appreciation and positive three-year sales growth – are used in conjunction with two metrics of intrinsic growth – positive three-year EPS growth and positive three-year employee growth, to arrive at this list.
According to the S&P report “Mid-caps positioned in the markets sweet spot – High growth mid-cap companies possess a strategic advantage relative to firms of smaller or larger sizes, having survived beyond their startup phases and offering stability as well as future growth opportunities. Having overcome the growing up pangs of small firms while possessing room for growth and expansion, mid-caps offer the best potential pool of companies, which could indeed be tomorrow’s leaders.”
According to Mr. K. K. Singh, Chairman & Managing Director, “We are extremely gratified by this recognition. Being selected as one of the two companies from India, that are part of The S&P Global Challengers ListTM 2008, is a further endorsement of our strong platform, cohesive strategies and unique business model, which have enabled us to grow consistently and placed us in an exceptional position to address large opportunities in India and internationally.”
About Rolta:
Rolta is an Indian multinational, which has executed projects in over 40 countries. The Company is in the area of Defence, Government, Infrastructure and Security markets, worldwide. Rolta serves its markets by providing innovative solutions in Geospatial Information Systems (GIS); Engineering & Design Services (EDS); and Enterprise Information & Communications Technology (EICT), which includes Software Development, Advanced Security, Network Management, Oracle Apps, ERP Consulting and Business Intelligence.
Headquarter of the company is in Mumbai, and it employs more than 5,000 professionals with a countrywide infrastructure and international subsidiaries all over the world.
The Company has benchmarked its quality processes with the world''s best quality standards. It is accredited with the prestigious BSI ISO/IEC 27001:2005 certification. Forbes Global has ranked Rolta amongst the "Best 200 Under a Billion" for four times in six years. Rolta has been included in the S&P Global Challengers ListTM 2008, by Standard & Poor’s. This List identifies 300 mid-size companies worldwide that have a total market capitalization between US$ 1 to 5 Billion and have shown the highest growth characteristics along dimensions encompassing intrinsic and extrinsic growth.
The Company is listed on the NSE in cash and F&O segment and forms part of CNX IT, NIFTY Midcap 50 and CNX 500 indices. The Company is also listed on BSE ''A'' group and forms part of BSE Midcap, BSE 200, BSE 500, BSE IT and BSE TECK indices. The Company''s GDR is listed on the Main Board of London Stock Exchange and its FCCB''s are listed on the Singapore Stock Exchange.
Friday, July 25, 2008
Serial Blasts Rock Bangalore
A woman was killed and at least six people were injured in a series of six low-intensity blasts carried out in eastern parts of the information technology capital this afternoon.
The woman, who was waiting at a bus shelter in Madivala on the Bangalore-Hosur road, was killed in the blast and her husband and another person were seriously injured, police said.
Bangalore was rocked by a major terrorist attack in December, 2005 when extremists opened fire in the famous Indian Institute of Science complex in which a Delhi IIT professor lost his life.
There were also blasts in other areas like Panthrapalya, Audugodi and Vittal Mallya Road within minutes of each other from the first blast at around 1330 hours.
Police Commissioner Shankar Bidari appealed to the people of the city to maintain calm and carry on with their normal life as police have been put on alert throughout the city.
He said timer device has been used in some of the blasts and explosives in quantity equivalent to one or two hand grenades have been used in some others.
Bidari termed it as an "act of miscreants" trying to disturb peace in Bangalore and appeared pre-planned. "We will get to the criminals and arrest them," he said.
Bomb disposal squads and forensic experts have rushed to the spot for investigations.
Chronology of some recent major bomb blasts in the country:
May 13, 2008: Eight serial blasts rock Jaipur in a span of 12 minutes leaving 65 dead and over 150 injured.
January 2008: Terrorist attack on CRPF camp in Rampur kills eight.
October 2007: 2 killed in a blast inside Ajmer Sharif shrine during Ramadan, in Rajasthan.
August 2007: 30 dead, 60 hurt in Hyderabad 'terror' strike.
May 2007: A bomb at Mecca mosque in Hyderabad kills 11 people.
February 19, 2007: Two bombs explode aboard a train bound from India to Pakistan, burning to death at least 66 passengers, most of them Pakistanis.
September 2006: 30 dead and 100 hurt in twin blasts at a mosque in Malegaon.
July 2006: Seven bombs on Mumbai's trains kill over 200 and injure 700 others.
March 2006: Twin bombings at a train station and a temple in Varanasi kill 20 people.
October 2005: Three bombs placed in busy New Delhi markets a day before Diwali kill 62 people and injure hundreds.
The woman, who was waiting at a bus shelter in Madivala on the Bangalore-Hosur road, was killed in the blast and her husband and another person were seriously injured, police said.
Bangalore was rocked by a major terrorist attack in December, 2005 when extremists opened fire in the famous Indian Institute of Science complex in which a Delhi IIT professor lost his life.
There were also blasts in other areas like Panthrapalya, Audugodi and Vittal Mallya Road within minutes of each other from the first blast at around 1330 hours.
Police Commissioner Shankar Bidari appealed to the people of the city to maintain calm and carry on with their normal life as police have been put on alert throughout the city.
He said timer device has been used in some of the blasts and explosives in quantity equivalent to one or two hand grenades have been used in some others.
Bidari termed it as an "act of miscreants" trying to disturb peace in Bangalore and appeared pre-planned. "We will get to the criminals and arrest them," he said.
Bomb disposal squads and forensic experts have rushed to the spot for investigations.
Chronology of some recent major bomb blasts in the country:
May 13, 2008: Eight serial blasts rock Jaipur in a span of 12 minutes leaving 65 dead and over 150 injured.
January 2008: Terrorist attack on CRPF camp in Rampur kills eight.
October 2007: 2 killed in a blast inside Ajmer Sharif shrine during Ramadan, in Rajasthan.
August 2007: 30 dead, 60 hurt in Hyderabad 'terror' strike.
May 2007: A bomb at Mecca mosque in Hyderabad kills 11 people.
February 19, 2007: Two bombs explode aboard a train bound from India to Pakistan, burning to death at least 66 passengers, most of them Pakistanis.
September 2006: 30 dead and 100 hurt in twin blasts at a mosque in Malegaon.
July 2006: Seven bombs on Mumbai's trains kill over 200 and injure 700 others.
March 2006: Twin bombings at a train station and a temple in Varanasi kill 20 people.
October 2005: Three bombs placed in busy New Delhi markets a day before Diwali kill 62 people and injure hundreds.
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