India Business Insight articles from April 2012

India Business Insight archives from April 2012

NICHROME INDIA SHIPS SUGAR PACKAGING MACHINERY TO WHITE NILE (to pack about 700 tonnes of sugar per day for retail sale).
April 30, 2012... Nichrome India Ltd of Pune, a packaging machinery manufacturer, has shipped sugar packaging machinery to White Nile, a sugar plant in Sudan. The company won the turnkey order of $1 million from the Indian Sugar and General Engineering...

KHANNA PAPER MILLS TO SET UP PAPER MILL IN GUJARAT (with an investment of Rs1,000 crore).
April 30, 2012... Khanna Paper Mills Ltd, Delhi, intends to put up a paper mill in Gujarat. The capacity of the plant would be 1,000 tonnes per day. The cost of the project is estimated at Rs1,000 crore, to be funded through internal accruals and initial public...

HNG'S GLASS MANUFACTURING COMPLEX IN ANDHRA PRADESH (with an investment of Rs400 million).
April 30, 2012... Hindustan National Glass Ltd (HNG) is putting up a glass- manufacturing complex at Naidupeta, Andhra Pradesh. The project cost is estimated at Rs400 million. The complex comprising five furnaces - glass containers (three) and float glass...

TETRA PAK'S PACKAGING MATERIALS UNIT IN PUNE (at a cost of Rs600 crore).
April 30, 2012... Tetra Pak is setting up a packaging materials unit at Chakan in Pune. The annual capacity of the plant would be 8.5 billion packages. The project cost is estimated at Rs600 crore.

CONTINENTAL TO INVEST Rs8,000 MILLION IN INDIA (by 2014 for expanding its operations and venturing into the radial tyres segment).
April 30, 2012... Continental AG, the tyre manufacturer from Germany, would invest Rs8,000 million in India by 2014. The investment is for its entry into the radial tyres segment, besides expanding its operations in India. The company is investing 50 million...

INDIAN REPLACEMENT MARKET TO CROSS Rs305 BILLION (says a report by TechSci Research).
April 30, 2012... The Indian replacement tyre market would reach Rs305 billion says a report by TechSci Research. According to the report, increasing number of vehicles would drive the growth for the tyre replacement market in the country. The agency estimates...

KERALA LEADS IN NATURAL RUBBER USE, MAHARASHTRA IN SYNTHETIC RUBBER (Kerala used 1,36,725 tonnes of natural rubber in 2010-2011).
April 30, 2012... Kerala topped in natural rubber consumption, while Maharashtra led in synthetic rubber consumption in 2010-2011. According to the data of Rubber Board, The total consumption of natural rubber in India stood at 9,47,715 tonnes, of which Kerala...

MRF, APOLLO LEAD IN NATURAL RUBBER CONSUMPTION (in 2010-2011 says Rubber Board).
April 30, 2012... MRF Ltd and Apollo Tyres Ltd topped the list of natural rubber consumers in 2010-2011, revealed Rubber Board. The list comprised 57 tyre and rubber companies whose consumption of natural rubber exceeded 1,000 tonnes in 2010-2011. Other major...

52.3 PERCENT DROP IN CEAT'S NET PROFIT (Rs23.9 million for Oct-Dec 2011).(Financial report)
April 30, 2012... Ceat Ltd has reported 52.3 percent drop in net profit to Rs23.9 million for Oct-Dec 2011 from Rs50.1 million in Oct-Dec 2010. The company attributes the drop in profit to high raw material costs and 23-day long strike at its Nashik unit. Its...

TATA POWER COMPLETES COMMERCIAL OPERATION TEST ON INDIA'S FIRST 800-MW-SIZED SUPERCRITICAL UNIT I (the work on the other units 2,3,4 and 5 of the project is also progressing as per schedule).
April 30, 2012... Coastal Gujarat Power Ltd (CGPL), the 100 percent subsidiary of Tata Power Ltd, has completed the commercial operation test of the first 800-mw supercritical unit at Mundra in Gujarat. CGPL is setting up India's first 4,000-mw ultra mega power...

WATER AND WASTEWATER TREATMENT BUSINESS IN INDIA STANDS AT Rs6,300 CRORE (the private equity investment in the segment grew to Rs500 crore in 2011 over Rs250 crore in 2010).
April 30, 2012... The 12th Five Year Plan has allocated five percent of the Rs50 trillion budget towards water supply and sanitation segment. The Environment & Building Technologies Practice division of Frost & Sullivan has estimated the water and...

EVEREST BLOWER SYSTEMS RECEIVES NSIC-D&B-SMERA RATING (from SME Rating Agency of India).
April 30, 2012... Everest Blower Systems (EBS) is a manufacturer of roots blowers, mechanical vacuum boosters and acoustic hoods. The company earns 35 percent of its revenues through exports to Africa, Middle East and South East Asian countries. The SME Rating...

TOYOTA MATERIAL HANDLING INAUGURATES HEAD OFFICE IN GURGAON (the facility at the head office has a warehouse that can store more than 6,000 varieties of parts).
April 30, 2012... Toyota Material Handling (TMH) is a subsidiary of Toyota Industries Corporation. TMH has opened its high-tech head office on 20,000 square metres at Gurgaon in Haryana. TMH will provide the whole range of Toyota and BT material to the market in...

P+F FACTORY AUTOMATION TO FEATURE GLOBAL TECHNOLOGIES FOR INDIAN CUSTOMERS (the high-tech office has testing, conferencing, integrated ERP and meeting facilities).
April 30, 2012... Pepperl+Fuchs, the automation company from Germany, has opened its Indian head office for the factory automation division at Gurgaon in Haryana. The high-tech office has testing, conferencing, integrated ERP and meeting facilities. The...

ADANI GROUP EMBARKS ON NEW GROWTH PHASE (announces the launch of a new corporate brand identity).
April 30, 2012... The Adani Group has announced the launch of a new corporate brand identity. The group will have three new clusters - resources, logistics and energy. Coal mines and trading including oil and gas will fall under resources, while the network of...

FREUDENBERG FILTRATION TECHNOLOGIES EXPANDS INDIA BASE (the company is acquiring the business of Pyramid Filters India).
April 30, 2012... Freudenberg Filtration Technologies India of Pune offers high- efficient industrial and automotive filter elements and systems in gas turbines and compressors. The company is acquiring the business of Pyramid Filters India. Pyramid develops and...

GE AND RELIANCE PREPARE SAMALKOT POWER PLANT FOR COMMISSIONING (the fuel for the expansion project will be natural gas).
April 30, 2012... Reliance Power Ltd has awarded a contract to GE Energy to supply six Frame 9FA Gas Turbines and three D-11 Steam Turbines for its 2,400-mw expansion project at Samalkot in Andhra Pradesh. Reliance chose GE's flexible and efficient power...

CLP INDIA SYNCHRONISES FIRST 660-MW UNIT IN JHAJJAR (the second of the 660-mw units is likely to be synchronised in another five months).
April 30, 2012... CLP India has synchronised its first of the two 660-mw units at the Mahatma Gandhi Thermal Power Project at Jhajjar in Haryana. The company is investing Rs6,500 crore in the project. The second of the 660-mw units is likely to be synchronised in...

L&T CONSTRUCTION BAGS Rs1,306-CRORE WORTH ORDERS (from various clients).
April 30, 2012... L&T Construction Ltd has bagged orders worth Rs1,306 crore. The Power Transmission & Distribution IC has won orders valued at Rs514 crore from clients including Power Grid Corporation for building a 765 kV double circuit transmission...

PUNJ LLLOYD BAGS Rs1,050-CRORE ORDER FROM GMR PROJECTS (for design, engineering, procurement and construction of 124 km of six lanes of the Chittorgarh bypass to Udaipur).
April 30, 2012... GMR Projects has issued a letter of intent to Punj Lloyd for design, engineering, procurement and construction of 124 km of six lanes of the Chittorgarh bypass to Udaipur. The Rs1,050-crore turnkey fixed EPC price contract is to completed in 36...

IVRCL BAGS Rs1,429.78-CRORE ORDER FROM THE GOVERNMENT OF HARYANA (the project has a construction period of 30 months and concession period of 20 years).
April 30, 2012... The Government of Haryana has awarded a R1,429.78-crore 151-km four-laning corridor project - Rai Malikpur (Rajasthan Border)- Narnaul-Mahendragarh-Dadri-Bhiwani-Kharak project on build- operate-transfer (toll) basis to IVRCL Assets &...

HCC-DSD-VNR JV BAGS Rs987-CRORE ORDER FROM NORTHEAST FRONTIER RAILWAY (to build a rail-cum-road bridge across the Brahmaputra River near Dibrugarh in Assam).
April 30, 2012... A joint venture (JV) of Hindustan Construction Company (HCC), DSD Broucken GmbH of Germany and VNR Infrastructures has bagged an order from the Northeast Frontier Railway to build a rail-cum- road bridge across the Brahmaputra River near...

HCC BAGS Rs289-CRORE ORDER FROM THE GOVERNMENT OF GUJARAT (to build a bulk water transmission system).
April 30, 2012... Gujarat Water Infrastructure, an undertaking of the Government of Gujarat, has awarded a Rs289-crore contract to Hindustan Construction Company (HCC) to build a bulk water transmission system. Under the contract, HCC will build a 57-km water...

INTERCONTINENTAL TO BUILD COMPUNDING PLANT IN INDIA (with a production capacity of 44.1 million pounds per year).
April 30, 2012... Intercontinental Polymers Private Limited, an Indo-American joint venture, is setting up an engineering resins compounding plant at Dahag, Gujarat. It will have production capacity of 44.1 million pounds per year. It will target exports to the...

CHLORINATED POLYVINYL CHLORIDE UNIT (the unit will be set up with an investment of Rs1,175 crore).
April 30, 2012... Lubrizol Corporation has planned to set up a Chlorinated Polyvinyl Chloride industrial unit in a joint venture with Gujarat Industrial Development Corporation at Dahej. The unit will be set up with an investment of Rs1,175 crore. The...

QATAR'S POLYSILICON UNIT (with a manufacturing capacity of 4,000 tonnes per annum).
April 30, 2012... Punj Lloyd has secured the engineering, procurement and construction contract to set up a polysilicon manufacturing unit at Qatar. Polysilion is used in building solar cells. The contract has been awarded by Qatar Solar Technologies. The...

YAKULT EXPANDS PRESENCE IN SOUTH INDIA (by launching Yakult in Chennai).
April 30, 2012... Yakult Danone India Private Limited has expanded its presence in South India by launching Yakult, its Probiotic drink, in Chennai. Yakult was launched in India in 2007 and is presently available in Bangalore, Delhi, Mumbai, Pune, Hyderabad,...

NATURES BOUNTY AND LUKA WINES JOIN HANDS (for sales, marketing and distribution of Luka Wines in India and abroad).
April 30, 2012... Natures Bounty Wines and Allied Products has tied up with Luka Wines, a product of Nirvana Biosys, for sales, marketing and distribution of Luka Wines in India and abroad. Luka Wines sells in 1,000 outlets in 11 states in India and is being...

VADILAL DOUBLES UP PLANT CAPACITY TO TARGET NORTHERN MARKETS (to 1.75 lakh litres per day at its Bareilly unit in Uttar Pradesh).
April 30, 2012... Vadilal Industries, an ice-cream manufacturer, has doubled its ice-cream manufacturing capacity at its Bareilly unit in Uttar Pradesh (UP) to 1.75 lakh litres per day since 2009. The company is adopting aggressive strategy to retain its...

AMCOR BUYS UNIGLOBE PACKAGING (with this, Amcor will have five manufacturing units in India).
April 30, 2012... Amcor, a global packaging company, has bought Uniglobe Packaging Private Limited for $20.8 million. With this Amcor, a Melbourne- based company, has five manufacturing units in India. Uniglobe generates annual sales of $21 million.

MORARKA ORGANIC SET TO EXPAND 'DOWN TO EARTH' (appoints Francorp to develop franchise model and a franchisee proposition).
April 30, 2012... Morarka Organic Foods Limited, which has brand 'Down to Earth', has appointed Francorp, part of Franchise India Group, to distinguish the current business model and product mix for Down to Earth by developing franchise model and a franchisee...

TATASKY CLAIMS 9 MILLION STBs DEPLOYED (has about 6 million active subscribers).
April 30, 2012... Tatasky, a Direct-to-Home operator, has claimed it has deployed 9 million set-top boxes (STB) in India. This places Tatasky at number two position in India after Dish TV. Tatasky has about 6 million active subscribers.

DIGICABLE:500 CHANNEL DIGITAL HEADEND (headend estimated to cost about Rs15 crore).
April 30, 2012... Digicable is setting up a 500 channels onland headend in India. It will be the fourth in the world after Singapore, Germany and USA and first in India. The headend estimated to cost about Rs15 crore. The master headend will be set up in...

100 MILLION CABLE AND DTH HOMES (India now has more cable and DTH homes than the USA).
April 30, 2012... India now has more cable and DTH (Direct-to-Home) homes than the USA. In Oct-Dec 2011 cable and Satellite sector's reach grew to 462.38 million. This represented 100.5 million homes, according to a survey by Media Research Users' Council and...

TEN GOLF AT Rs200 (said to be India's most expensive pay TV channel priced at Rs200 per subscriber per month).
April 30, 2012... Taj Television has launched Ten Golf, said to be India's most expensive pay TV channel priced at Rs200 per subscriber per month. Ten Golf has set a target of achieving 5,00,000 subscribers by 2016. Along with live golf action, Ten Golf will...

DISCOVERY KIDS IN APRIL (channel will be available in English, Hindi and Tamil).
April 30, 2012... Discovery Networks International is launching its Discovery Kids, a children's channel, in India in April 2012. The channel will be available in English, Hindi and Tamil.

NEWS CORP EXITS HATHWAY CABLE (sells its entire 17.3 percent stake in Hathway to Providence for Rs358 crore).
April 30, 2012... News Corp has sold its entire 17.3 percent stake in Hathway Cable & Datacom to Providence, a private equity firm, for Rs358 crore. News Corp had held the stake through Asian Cable Systems. Asian Cable sold 2,47,15,500 shares through open...

PRASAR BHARATI: Rs1,038 CRORE UPTO DEC (commercial revenue of Doodarshan was Rs748 crore and that of All India Radio Rs2.45 crore).
April 30, 2012... Prasar Bharati has earned Rs1,038 crore revenue during April-Dec 2011. The commercial revenue of Doodarshan during the period was Rs748 crore and that of All India Radio Rs2.45 crore. The revenue from other sources was Rs444 million.

ZEEL'S SPORTS BIZ LOSSES Rs140 CRORE (due to new launches viz Ten Head and Ten Golf and weakening rupee).
April 30, 2012... Zee Entertainment Enterprises Limited's sports losses will be around Rs140 crore during 2011-2012 due to new launches viz Ten Head and Ten Golf and weakening rupee. Zee Sports losses during 2010-2011 was Rs2.08 billon on a revenue of Rs4.4...

RUIA GROUP ISSUES SHARES IN TYRE MAKERS TO THREE FIRMS (as a part of conversion of loans).
April 30, 2012... Dunlop India Ltd and Falcon Tyres Ltd of the Ruia Group are issuing shares to three firms as a part of converting loans. The three firms are Regus Impex Ltd and Salputri Commerce Pvt Ltd of Kolkata and Suncap Commodities Ltd of Mumbai. Dunlop...

TULIP TELECOM WILLING TO SHED 25 PERCENT STAKE IN DATA CENTRE (to bring in an investor for its data centre).
April 30, 2012... Tulip Telecom is planning to bring in an investor for its data centre and willing to shed between 10 and 25 percent stake in the data centre. Tulip has invested Rs230 crore and has raised Rs250 crore from financial institutions. It has also...

NOKIA TO EXIT MOBILE MONEY BUSINESS GLOBALLY (Nokia had started mobile money business in India in association with YES Bank in 2010).
April 30, 2012... Nokia has decided to exit the mobile money business as per global strategy of closing down non-core businesses. Nokia had started mobile money business in India in association with YES Bank in 2010. It had also signed an agreement with Union...

INDUS TOWERS TO MAKE 20,000 MORE TOWERS DIESEL-FREE BY APRIL 2013. (as part of reducing carbon footprint it is spending Rs165 crore).
April 30, 2012... Indus Towers, a joint venture of Bharti Airtel, Vodafone and Idea Cellular, has planned to make 20,000 of its tower sites diesel- free by 2013. As part of reducing carbon footprint it is spending Rs165 crore in making tower sites diesel-free. To...

VODAFONE, TIMBRE MEDIA JOIN HANDS FOR RADIO SERVICES (to offer radio services on mobile handsets in all 18 circles).
April 30, 2012... Vodafone has aligned with Timbre Media to offer radio services on mobile handsets in all 18 circles. The service will be made available at Rs30 per month along with 300 minutes of free usage. Timbre Media was set up by former employees of...

VIOM NETWORKS TO CUT 40 PERCENT WORKFORCE (as per the recommendation of AT Kearney, a consulting firm).
April 30, 2012... Viom Networks, a Tata Teleservices-controlled company, is reducing 40 percent of its workforce across India. The reduction is being done as per the recommendation of AT Kearney, a consulting firm, which had said the company has to cut costs to...

TATA COMMUNICATIONS COMPLETES CABLE NETWORK RING AROUND THE WORLD (by launching Tata Global Network-Eurasia cable, which links Europe with India).
April 30, 2012... Tata Communications has launched Tata Global Network-Eurasia (TGN- EA) cable, which links Europe with India through Egypt. With this, Tata Communications has completed the round-the-world fibre optic cable network. The global fibre optic...

NTT DoCOMo LIKELY TO USE CALL OPTION TO RAISE TATA TELESERVICES STAKE. (meanwhile, Tata Teleservices is evaluating buyback of DoCoMo shares).
April 30, 2012... NTT DoCoMo, A Japanese telecom operator which has 26 percent stake in Tata Teleservices, is holding talks to raise its stake. Meanwhile, Tata Teleservices is evaluating buyback of DoCoMo shares. DOCoMo has two call options - one in March 2012...

IGATE-PATNI BAGS 5-YEAR DEAL FROM RIO TINTO (mining company is expected to spend around $60-80 million by 2017).
April 30, 2012... Patni Computer systems Limited, a software services provider controlled by IGate Corp, has secured a 5-year outsourcing order from Rio Tinto PLC, the third largest mining company in the world. Rio Tinto is expected to spend around $60-80...

HCL INFOSYSTEMS WINS Rs2,200 CRORE AADHAAR CONTRACT (to maintain Aadhaar number repository and its IT infrastructure).
April 30, 2012... HCL Infosystems has secured a Rs2,200-crore contract from the Unique ID Authority of India to maintain Aadhaar number repository and its IT infrastructure. HCL has to develop an IT backbone for the Aadhaar project and ultimately handle the data...

HCL TECHNOLOGIES BAGS $250-300 MILLION OUTSOURCING DEAL FROM UBS (to deploy about 1,000 professionals to handle the project, who will be located across the globe).
April 30, 2012... HCL Technologies has secured $250-300 million, multi-year outsourcing contract from Union Bank of Switzerland (UBS). HCL will deploy about 1,000 professionals to handle the project, who will be located across the globe, including India. It is...

ELECTRONICS PRODUCTION TO CROSS Rs1.55 LAKH CRORE (electronic hardware export is expected to grow by 12.8 percent and cross Rs47,090 crore).
April 30, 2012... Electronic hardware production in India will grow by 27.6 percent in 2011-2012 and cross Rs1,55,397 crore, according to Economic Survey. The electronic hardware export is expected to grow by 12.8 percent and cross Rs47,090 crore in 2011-2012...

MAHINDRA SATYAM ACQUIRES VCUSTOMER BPO FOR $27 MILLION (acquisition will open BPO operations of verticals like retail and consumer technology).
April 30, 2012... Mahindra Satyam has acquired vCustomer's international operations for $27 million. vCustomer is a Delhi based business Process Outsourcing (BPO) firm. The acquisition will enable Mahindra Satyam to enter BPO operations of verticals like...

WNS MAY LAUNCH US CENTRE OVER NEXT QUARTER (the first centre will have capacity of 300 to 500 employees).
April 30, 2012... WNS Holdings Limited of Mumbai is likely to launch first of the three proposed customer centres in the US during April-June 2012. The first centre will have capacity of 300 to 500 employees. The other two customer centres would be opened in the...

INDIAN IT INDUSTRY PAID $15 BILLION IN TAXES TO US GOVERNMENT IN 5 YEARS: NASSCOM (also created over 2.8 lakh employment opportunities).
April 30, 2012... The National Association of Software and Services Companies (Nasscom), in its report India's Tech Industry in the US, has revealed that the Indian IT industry had paid over $15 billion in taxes to the US treasury over a period of five years. ...

SUTHERLAND, GENPACT EYE APOLLO BPO (Apollo Hospitals and its associates hold 54 percent stake in Apollo Health Street).
April 30, 2012... Sutherland Global Services and Genpact, the two business process outsourcing (BPO) companies, are competing to acquire Apollo Health Street, the BPO arm of Apollo Hospitals. Apollo Hospitals and its associates hold 54 percent stake in Apollo...

POLARIS SEEKS NOD FOR BPO DEMERGER (shareholders of Optimus would be given one share in Polaris for every 200 shares of Optimus).
April 30, 2012... Polaris Financial Technology, a software products provider for banking and financial services companies, is going ahead with the proposed demerger of Optimus, the business process outsourcing (BPO) arm, with itself. The shareholders of Optimus...

NIMBUS SPORT LIKELY TO RAISE Rs50 CRORE FROM WSH (WSH is a joint initiative of Nimbus Sport and Indian Hockey Federation).
April 30, 2012... Nimbus Sport has set a target to raise Rs50 crore from TV advertising and ground sponsorship during World Series Hockey (WSH) 2012 that began on 29 Feb 2012 and ends on 2 April 2012. Bridgestone has sponsored the title. WSH is a joint initiative...

KCCI TO SET UP Rs30 CRORE BIZ NEWS CHANNEL (channel is expected to be launched in Sept 2012).
April 30, 2012... Kerala Chamber of Commerce and Industry (KCCI) is spending Rs30 crore to set up a business television channel. The channel is expected to be launched in Sept 2012. The channel will receive funding from non-resident Indians. The channel will...

ZEE FORAYS INTO LIVE TV DISTRIBUTION; LAUNCHES DITTO TV (to offer live TV content and video-on-demand).
April 30, 2012... Zee New Media, digital arm of Zee Entertainment Enterprises, will offer live television content and video-on-demand on tablets, smartphones and all internet-enabled devices users, who subscribe to Ditto TV. Ditto TV is a newly launched mobile TV...

MEDIA ENTERTAINMENT INDUSTRY SEEN AT Rs1.45 LAKH CRORE BY 2016 (due to increased penetration to smaller cities and continued growth of regional media).
April 30, 2012... The market size of Indian media and entertainment industry is expected to touch Rs1,45,700 crore, growing at compounded annual growth rate of 15 percent, by 2016. This is possible due to increased penetration to smaller cities and continued...

DIGICABLE PLANS TO SET UP 500-CHANNEL HEADEND (as the Government makes digitisation mandatory for all cable distribution from 1 July 2012).
April 30, 2012... Digicable, a multi-system operator, is setting up a 500-channel headend at a cost of Rs10-15 crore. This follows Government of India making digitisation mandatory for all cable distribution from 1 July 2012. Headend facilitates receiving TV...

TV18 TO ACQUIRE ETV FIRMS (for a consideration of Rs1,925 crore).
April 30, 2012... TV18 proposes to acquire Equator Trading, a holding company of three ETV group companies, for a consideration of Rs1,925 crore. Equator Trading, which has no standalone business of its own, had reported a loss of Rs42 lakh for 2010-2011. Equator...

VADILAL EMPLOYS AGGRESSIVE STRATEGY FOR CAPTURING THE MORTHERN MARKET (and doubles the capacity of ice cream plant at Bareilly to 1.75 lakh litres per day).
April 30, 2012... Vadilal Industries Ltd has adopted an aggressive strategy for capturing the markets in North India. It has doubled the capacity of ice cream plant at Bareilly to 1.75 lakh litres per day as a part of its strategy. It is also implementing its...

AUSTRALIA'S DI BELLA COFFEE PLANS EXPANSION IN INDIA (and opens four cafes in Mumbai).
April 30, 2012... Di Bella Coffee, coffee chain of Australia, is on an expansion spree in India. It plans to open outlets in Delhi, Hyderabad and Bangalore by 2014. It has opened four cafes in Mumbai recently and would open four more cafes shortly.

DFV TO SET UP BANANA PROCESSING UNIT AT NAVASARI (with an investment of Rs60 crore).
April 30, 2012... Desai Fruits and Vegetables (DFV) is planning to set up banana processing unit at Navasari in Gujarat with an investment of Rs60 crore. It also plans to upgrade and expand its cold storage units, sorting machines and packaging facilities.

GCMMF TO EXPAND DAIRY PROCESSING CAPACITY AT GUJARAT (to 22 million lpd from 14 million lpd).
April 30, 2012... The Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF) is planning capacity expansion of milk and milk products processing to 22 million litres per day (lpd) from 14 million lpd. The cost of expansion over a span of six years is...

HATSUN AGRO TO SET UP 250 ICE CREAM PARLOURS (in India under Ibaco brand by 2013).
April 30, 2012... Hatsun Agro Product Ltd is planning to set up 250 ice cream parlours in India under Ibaco brand by 2013. It would invest about Rs50 crore for the purpose. Of the proposed 250 outlets, 70 would come up in Tamil Nadu.

ETG AGRO TO SET UP PULSE PROCESSING UNITS IN MAHARASHTRA AND GUJARAT (with an investment of Rs100 crore).
April 30, 2012... ETG Agro Ltd is planning to set up pulse processing units in Maharashtra (Khapoli) and Gujarat (Vasad) in 2012 with an investment of Rs100 crore. The capacity of Vasad unit would be about eight tonnes per hour, while that of Khapoli about 20...

MARKET SHARE: FEB 2012 (shows Bharti Airtel's at 27.22% of the total subscriber base).
April 30, 2012... India's total mobile subscriber base in Feb 2012 stood at 65,68,59,666. Bharti Airtel accounted for 27.22 percent (17,87,77,131) of the total subscriber base. Vodafone Essar accounted for 22.75 percent (14,94,40,176) of the total...

MTS COMPLETES THREE YEARS IN INDIA (and launches high speed data services in 300 towns in the country).
April 30, 2012... MTS has completed three years of operations in India. It has launched its high-speed data service in 300 towns in the country. The company, which has 16 million customers, offers its services through three lakh retail outlets in India.

BSNL AND MTNL TO STRENGTHEN RURAL NETWORK (under USOF scheme).
April 30, 2012... Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) are planning to strengthen network connectivity in rural India. The rural network connectivity programme is under Universal Services Obligation Fund (USOF) scheme.

TRADE VOLUMES DIP IN COMMODITY MARKETS (prices of farm commodities have continued to increase).
April 30, 2012... Turnover in commodity markets in India have declined in Apr 2012. The Forward Market Commission had suspended trading in futures contract for guar and guar gum in Mar 2012. Turnover in NCDEX has declined by 28 percent and that in MCX has...

UNDETERRED BY DELAYS, MITTAL SAYS INDIA CONTINUES TO BE A PRIORITY (Mittal Energy has set up a refinery at Bhatinda with HPCL).
April 30, 2012... Mittal Energy Ltd intends to give priority to India despite delays in implementing projects. The company has set up a refinery at Bhatinda in joint venture with Hindustan Petroleum Corporation Ltd (HPCL). The joint venture, HPCL-Mittal Energy...

TATA STEEL TESTING CLEAN COAL TECHNOLOGY (the company has set up a pilot plant at Visakhapatnam).
April 30, 2012... Tata Steel Ltd is testing a technology to bring down the ash content in coal. The company has set up a pilot plant at Visakhapatnam with a capacity to produce 500 kilogram of low-ash coal an hour. Tata Steel intends to set up a plant at...

SANGHVI FORGINGS'S VADODARA PLANT TO GO ON STREAM IN JUNE (the plant will have a capacity to produce forgings of 40 tonnes).
April 30, 2012... Sanghvi Forging and Engineering Ltd expects to start trial production at its new plant at Vadodara in Jun 2012. The plant will have a capacity to produce forgings of 40 tonnes and total capacity of 15,000 tonnes a year. The company has...

DHANLAXMI BANK TAKING AGGRESSIVE STEPS TO GET BACK INTO BLACK (the bank has announced a loss of Rs37 crore for Oct-Dec 2011).(Financial report)
April 30, 2012... Dhanlaxmi Bank is taking strong steps to restructure its business to report profit. The bank has announced a loss of Rs37 crore on business of Rs21,000 crore for Oct-Dec 2011. The Managing Director and Chief Executive Officer, Amitabh...

WE WILL GIVE A THRUST TO RETAIL AND SME LOAN GROWTH (Dhanlaxmi Bank intends to bring down costs and increase volumes).
April 30, 2012... The new Managing Director and Chief Executive Officer of Dhanlaxmi Bank intends to focus on growth of retail and small and medium enterprise (SME) loans. The bank intends to bring down costs by cutting salaries and vacating unused space and...

SHRIRAM IN TALKS WITH MARG TO BUY SHOPPING MALL (the deal is likely to cost Rs350 crore).
April 30, 2012... The Shriram Group its talking to the Marg Group to acquire a shopping mall complex near Chennai for nearly Rs350 crore. The complex, Marg Junction, has an office complex, a four-star hotel and a shopping area. Marg Group is likely to get...

SONY INDIA PLANS TO DOUBLE ITS SHARE IN GLOBAL REVENUES (the company intends to expand its operations in rural areas).
April 30, 2012... Sony India is planning to increase its share in the global revenue from five percent to 10 percent in the next five years. The company intends to expand its operations in rural areas. Sony India intends to focus on digital cameras, television...

AIR INDIA'S 787 DREAMLINER ROLLS OUT OF BOEING PLANT (Air India has ordered 27 units of the new plane).
April 30, 2012... Boeing has rolled out the 787 Dreamliner aircraft for Air India at its new plant in South Carolina. The company expects to deliver the aircraft to Air India in mid-2012. Air India has ordered 27 units of the new plane. The airline is likely...

WENDT INDIA FY-12 NET UP 8% (the company has announced a net profit of Rs17.29 crore for 2011-2012).(Financial report)
April 30, 2012... Wendt India has announced a growth of eight percent in net profit at Rs17.19 crore for 2011-2012 (Rs15.95 crore for 2010-2011). Its sales have gone up to Rs100 crore (Rs81.73 crore). The company is a joint venture between Wendt GmbH of Germany...

EXPENDITURE OF CENTRAL GOVERNMENT ON MAJOR SUBSIDIES (the Government of India is expected to spend Rs1,34,411 crore on subsidies in 2011-2012).
April 30, 2012... The Government of India is expected to spend Rs1,34,411 crore on major subsidies in 2011-2012 (Rs1,31,212 crore in 2010-2011). Expenditure on subsidies had increased to Rs1,35,508 crore in 2009-2010 (Rs1,23,581 crore in 2008-2009). The...

DEPARTMENT OF POSTS TO SET UP 1,000 ATMs (the DoP has identified 820 Head Post Offices).
April 30, 2012... The Department of Posts (DoP) is planning to set up 1,000 automated teller machines (ATMs) across India. The department has identified 820 Head Post Offices in the country to set up the ATMs. The DoP expects to identify 180 post offices...

BUSINESS CONFIDENCE INDEX RECOVERS, BUT REMAINS SUBDUED: CII (the index has gone up to 55 for Apr-Jun 2012).
April 30, 2012... The Confederation of Indian Industries (CII) is of the view that the business confidence index has recovered to 55 for Apr-Jun 2012 (62.5 for Apr-Jun 2011). The CII has carried out the 79th Business Outlook Survey on a sample size of 200...