India Business Insight articles from February 2007, page 2

India Business Insight archives from February 2007

OVER 50% OF SUBSCRIBERS SCREENED (by cellular operators to help security agencies).
February 28, 2007... (From India Business Insight) The Department of Telecommmunications (DoT) of the Government of India had asked cellular operators to verify details of all subscribers by 31 Mar 2007 to address the concerns of security agencies. The...

AIRTEL PLANS SPLIT (of its telecommunication infrastructure to set up 4 separate companies in 4 geographical regions of India).
February 28, 2007... (From India Business Insight) Bharti Airtel proposes to split its telecommunication infrastructure to establish 4 separate companies in 4 geographical regions of India. The company then proposes to invite bids only from strategic and...

IDEA CELLULAR TO EXPAND (at a cost of Rs60 million).
February 28, 2007... (From India Business Insight) Idea Cellular proposes to expand its presence all over India with an investment of Rs60 billion. It has a presence in 11 telephone circles. It has received letters of Intent (LoIs) for the Mumbai and...

HUTCHINSON ESSAR TIES UP WITH NTTDOCOMO (to offer the i-mode mobile service to access rich content, e-mail and games on the Internet through mobile phones).
February 28, 2007... (From India Business Insight) Hutchinson Essar Ltd (HEL) has allied with NTTDoCoMo to offer i-mode mobile Internet service in India by 2007. The service enables users to access rich content, e-mail and games on the Internet through their...

BSNL CDMA SERVICE FOR WEST UTTAR PRADESH (Bharat Sanchar Nigam Ltd will offer 1,30,000 connections in 2007).
February 28, 2007... (From India Business Insight) Bharat Sanchar Nigam Ltd (BSNL) proposes to launch its code division multiple access (CDMA) based wireless in local loop (WLL) service in the Uttar Pradesh (West) circle. BSNL will offer 1,30,000 connections...

AIRTEL LAUNCHES 3G SERVICES (in Seychelles to become the first company to do so).
February 28, 2007... (From India Business Insight) Bharti Airtel has become the first company to launch third generation (3G) services in Seychelles. It has launched these services through Telecom Seychelles, a subsidiary of Bharti Global.

BT TO LAUNCH NLD, ILD SERVICES (in India; it has received a letter of intent to do so).
February 28, 2007... (From India Business Insight) British Telecommunications (BT) will launch national long distance (NLD) and international long distance (ILD) telephony services. It has received a letter of intent (LoI) from the Department of...

MTNL CAN OFFER IPTV SERVICE (as it is being provide as a value-added service).
February 28, 2007... (From India Business Insight) The legality of Mahanagar Telephone Nigam Ltd (MTNL) providing Internet protocol television (IPTV) service on its broadband had been questioned. It was contended that only holders of unified access...

BSNL TO EXPAND BROADBAND INFRASTRUCTURE (in urban areas with an investment of Rs12-15 billion and in rural areas with an investment of Rs5 billion).
February 28, 2007... (From India Business Insight) Bharat Sanchar Nigam Ltd (BSNL) intends to invest Rs12-15 billion in urban areas and Rs5 billion in rural areas to expand its broadband infrastructure. It proposes to offer broadband connectivity at a speed...

APERTO TO SELL PRODUCTS TO BSNL (for installation in Kolkata, Bangalore, Chennai, Ahmedabad, Hyderabad and Pune).
February 28, 2007... (From India Business Insight) Aperto Networks of the US will supply its Wi-Max Packet-Max 5000 base stations and PM300 subscriber units to Bharat Sanchar Nigam Ltd (BSNL). The equipment will be installed in Kolkata, Bangalore,...

VSNL TO BID FOR DATA RETURN (of the US for $90-100 million).
February 28, 2007... (From India Business Insight) Videsh Sanchar Nigam Ltd (VSNL) proposes to bid for Data Return for $90- 100 million. The company of the US offers managed host services and information technology (IT) operations.

AIRCEL TO ROLL OUT WI-MAX NETWORKS (in all the 23 telephone circles of India).
February 28, 2007... (From India Business Insight) Aircel proposes to launch Wi-Max networks in all the 23 telephone circles of India. It proposes to target small, medium and large enterprises. Aircel has already deployed Wi-Max networks in 10 cities,...

RCL'S $1.5-BILLION SUBMARINE CABLE CONTRACT (NEC Corporation, Tyco, Alcatel-Lucent and Fujitsu are in the race).
February 28, 2007... (From India Business Insight) The $1.5-billion submarine cable contract of Reliance Communication Ltd (RCL) is to be awarded by the end of Jan 2007. NEC Corporation, Tyco, Alcatel-Lucent and Fujitsu are vying with each other to get the...

LANKA BELL (of Sri Lanka gets the $25-million contract of Reliance Communication Ltd).
February 28, 2007... (From India Business Insight) Lanka Bell, a telecommunication service provider of Sri Lanka, has got $25-million contract of Reliance Communication Ltd. The contract involves laying an undersea submarine cable link that will connect...

BSNL, MTNL PLAN UNDERSEA CABLE LINK (between India and Singapore with a joint investment of Rs18-20 billion).
February 28, 2007... (From India Business Insight) Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) will lay a submarine cable between India and Singapore with a joint investment of Rs18-20 billion. The tender for the work is likely...

HTIL STAKE SALE (of 67% in Hutchinson Essar Ltd).
February 28, 2007... (From India Business Insight) Hutchinson Telecom International Ltd (HTIL) intends to sell its 67 percent stake in Hutchinson Essar Ltd (HEL). Vodafone, Reliance Communications Ltd, Verizon, Orascom and Hinduja TMT are in the race for...

IDEA CELLULAR TO MAKE PRE-IPO PLACEMENT (of shares worth Rs3.75 billion constituting 15% of the proposed initial public offering).
February 28, 2007... (From India Business Insight) Idea Cellular plans an initial public offering (IPO). It is likely to make a pre-IPO placement of shares worth Rs3.75 billion with promoters, the employees of the AV Birla group of companies and high net...

SPICE TELECOM IPO (during Mar-Apr 2007 to mobilise $300 million).
February 28, 2007... (From India Business Insight) The board of directors of Spice Telecom has cleared the company's proposal for an initial public offering (IPO) during Mar-Apr 2007. The IPO is likely to raise $300 million. Spice Telecom hopes to...

GTL INFRASTRUCTURE RIGHTS ISSUE (to raise Rs3.4 billion for its Rs21-billion infrastructure expansion scheme).
February 28, 2007... (From India Business Insight) GTL Infrastructure proposes a 1:1 rights issue to mobilise Rs3.4 billion. GTL will use the proceeds of the issue for its Rs21-billion infrastructure expansion plan. GTL proposes to build 400 towers...

XL TELECOM'S IPO (was oversubscribed by 6.83 times; 3.96 million equity shares of Rs10 each were on offer).
February 28, 2007... (From India Business Insight) The initial public offering (IPO) of XL Telecom was oversubscribed by 6.83 times on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company had offered 3.96 million equity shares of...

BSNL CONTRACT FOR HUAWEI (to supply optical networking equipment).
February 28, 2007... (From India Business Insight) Bharat Sanchar Nigam Ltd (BSNL) has awarded a contract to Huawei to supply optical networking equipment. The equipment will enable BSNL to increase its bandwidth. Huawei has also offered STM-64 (10 gigabytes...

CIL GUNS FOR VENDOR CARTELS (by making all its purchases through the e-commerce route).
February 28, 2007... (From India Business Insight) Coal India Ltd (CIL) will make all its purchases through the e-commerce route to make procurement transactions transparent and remove the influence of merchant cartels. After discovering a cartel of...

ANDHRA PRADESH TO INVITE BIDS FOR 600 MEGAWATTS (willing to pay Rs6.50 per unit to private producers and traders of electricity).
February 28, 2007... (From India Business Insight) The Government of Andhra Pradesh is to call tenders seeking supply of 600 megawatts of electricity from private power producers and traders. It is anticipating an increase in demand for power in the...

RELIANCE TO CUT LPG SUPPLY TO IOC BY 40% (from 1 Apr 2008).
February 28, 2007... (From India Business Insight) Reliance Industries Ltd (RIL) will cut liquefied petroleum gas (LPG) production at its Jamnagar refinery from 2.6 million tonnes per annum to 1.6 million tonnes per annum with effect from 1 Apr 2008. RIL...

INDIA'S LARGEST FARMHOUSE DEAL AT Rs18 CRORE AN ACRE; NOBODY'S SHOCKED (at the high price).
February 28, 2007... (From India Business Insight) A realty developer of the UK has purchased a 2.5-acre farmhouse in South Delhi's Westend Greens for Rs45 crore. At Rs18 crore an acre, this is the most expensive farmhouse deal in India. Nobody's...

SRI LANKA'S EXPORTS TO INDIA SLOW DOWN (to Rs50.8 billion in 2006 from Rs56.2 billion in 2005).
February 28, 2007... (From India Business Insight) The exports of Sri Lanka to India decreased to Rs50.8 billion in 2006 from Rs56.2 billion in 2005 due to lesser shipments of vanaspati, spices and copper. However Indian exports to Sri Lanka increased to...

APEDA ON A BRAND-BUILDING EXERCISE FOR GRAPES (to increase the brand awareness of Indian grapes in the international market).
February 28, 2007... (From India Business Insight) The Agricultural & Processed Food Products Export Development Authority (APEDA) has initiated brand-building exercise for grapes to increase the brand awareness of Indian grapes in other countries. The...

IPO RUSH IN TEXTILE COMPANIES BEFORE TUFS EXPIRES (to gain from the 5% subsidy provided under the Technology Upgradation Fund Scheme).
February 28, 2007... (From India Business Insight) As the Technology Upgradation Fund Scheme (TUFS) is scheduled to expire in Mar 2007, textile companies are hurrying up to raise funds by floating initial public offerings (IPOs). Under TUFS, the textile firms...

Rs13,500-CRORE RELIANCE CRACKER UNIT TO COME UP AT JAMNAGAR (the company will issue 12 crore warrants to promoters).
February 28, 2007... (From India Business Insight) Reliance Industries Ltd (RIL) has decided to set up a cracker and petroleum complex at Jamnagar with an investment of Rs13,500 crore. The company will issue 12 crore warrants to promoters on a preferential...

I-T EXEMPTION LIMIT MAY BE RAISED TO Rs1.5 LAKH (income tax collections have gone up by 32 percent in the first 11 months).
February 28, 2007... (From India Business Insight) The Government of India is likely to increase the limit of income tax (I-T) exemption from Rs1 lakh to Rs1.5 lakh in the Budget of 2007-2008. The exemption is expected to provide relief to a large number of...

HIGHER TDS MAY SQUEEZE SHIPPING COMPANIES' CASH FLOW (the Government has decided to collect TDS of 20 percent on earnings).
February 28, 2007... (From India Business Insight) Shipping companies in India are expected to face a squeeze in cash flow due to higher payment of Tax Deducted at Source (TDS). The Government has decided to collect TDS of 20 percent on earnings from freight...

ONGC-CAIRN PIPELINE PROJECT: ENGINEERS INDIA TO DO FEASIBILITY STUDY (the crude from Rajasthan needs specialised pipelines for transportation).
February 28, 2007... (From India Business Insight) Oil and Natural Gas Corporation (ONGC) and Cairn India Ltd have asked Engineers India Ltd (EIL) to carry out a feasibility study on a pipeline from Rajasthan. Cairn India and ONGC are 70:30 partners in the...

CASEIN EXPORTERS MAKE HAY DESPITE SMP BAN (the DGFT has banned export of milk powder under tariff code 0402).
February 28, 2007... (From India Business Insight) Exporters of casein from India are not affected by the imposition of ban on export of skimmed milk powder (SMP). The Directorate- General of Foreign Trade (DGFT) has banned export of milk powder under the...

RPG PLANS MEGA THERMAL POWER PLANT (the company intends to invest Rs10,000 crore).
February 28, 2007... (From India Business Insight) RPG Enterprises is planning to set up a mega thermal power plant of 2,000 megawatt with an investment of Rs10,000 crore. The company is likely to set up the plant in West Bengal, Jharkhand or Orissa in...

FII INVESTMENT IN BAJAJ AUTO FIN (RBI has allowed FIIs to purchase up to 30 percent of the paid-up capital).
February 28, 2007... (From India Business Insight) The Reserve Bank of India (RBI) has allowed foreign institutional investors (FIIs) to buy equity shares of Bajaj Auto Finance under the Portfolio Investment Scheme. The RBI has allowed the FIIs to purchase up...

ONGC APPOINTS CONSULTANT FOR 3RD PARTY AUDIT OF WELLS (success rate in exploratory drilling is at 1:5).
February 28, 2007... (From India Business Insight) Oil and Natural Gas Corporation (ONGC) has appointed DeGolyer & McNaughton as consultant to undertake third party audit of its wells. The company is receiving criticism for deviating from its core business...

IVRCL INFRA MULLS SECOND DESALINATION PLANT IN CHENNAI (the company has set up a joint venture with Befesa of Spain).
February 28, 2007... (From India Business Insight) IVRCL Infrastructures & Projects Ltd is planning to set up a second desalination plant in South Chennai. The company is setting up a desalination plant in North Chennai in partnership with Befesa of...

RELIANCE TO SCALE UP K-G BASIN PRODUCTION CAPACITY (the company expects to complete the pipeline by the end of 2007).
February 28, 2007... (From India Business Insight) Reliance Industries Ltd (RIL) is planning to increase the production at Krishna-Godavari (K-G) basin. The company intends to increase the production from 40 million standard cubic metres per day to 80...

HPCL TO FINALISE PARTNER FOR VIZAG REFINERY EXPANSION SOON (the company is talking to Total of France and other oil companies).
February 28, 2007... (From India Business Insight) Hindustan Petroleum Corporation Ltd (HPCL) is planning to finalise the partner for the expansion of its refinery at Visakhapatnam (Vizag) soon. The company intends to expand the capacity of the refinery to...

ONGC REFINERY PROJECT, KAKINADA SEZ ARE ON (the company intends to invest Rs22,000 crore in the project).
February 28, 2007... (From India Business Insight) Oil and Natural Gas Corporation (ONGC) has decided to implement the special economic zone (SEZ) and the refinery project at Kakinada. The company is planning to set up a refinery with a capacity of 15...

KAIGA 3RD UNIT TO GO COMMERCIAL SOON (critical turbine components from Ukraine are arriving on time).
February 28, 2007... (From India Business Insight) The third unit of Kaiga Atomic Power Plant is expected to go critical on 26 Feb 2007. The 220-megawatt plant is expected to start commercial production by the end of Mar 2007. The last consignment of...

NEW VENTURES INDIA TO SUPPORT SMEs (the company intends to identify profitable SMEs).
February 28, 2007... (From India Business Insight) New Ventures India is planning to provide $5 million to support small and medium enterprises (SMEs) in India. The organisation is an alliance between CII-Sohrabji Godrej Green Business Centre, World...

CENTRE TO EXAMINE SINGLE PORTAL FOR E-PROCUREMENT OF MATERIALS (to eliminate aberrations and malpractices).
February 28, 2007... (From India Business Insight) The Government of India is planning to study the proposal to set up a single portal for e-procurement of materials for all departments. The Government intends to eliminate aberrations and malpractices in the...

US TO EXPAND INDIAN ACCESS TO HI-TECH GOODS (the US Government has identified Indian companies for Trusted Customer Programme).
February 28, 2007... (From India Business Insight) The US Government has decided to expand access of high technology to Indian companies. The governments of India and the US have agreed to adjust their policies for more trade in high technology. The US...

STATE BANK OF TRAVANCORE HIKES INTEREST RATES (senior citizens will receive additional 0.25 percent interest).
February 28, 2007... (From India Business Insight) State Bank of Travancore (SBT) has increased the interest rates on domestic term deposits and non-resident ordinary term deposits from 26 Feb 2006. For deposits of Rs25 lakh and above, the bank will offer 4.5...

GODREJ AGROVET TO FOCUS ON RURAL MARTS (the company intends to set up 1,000 Aadhar outlets in the next five years).
February 28, 2007... (From India Business Insight) Godrej Agrovet Ltd is planning to focus on its rural marts, Aadhar retail outlets, to help rural consumers. The company is also planning to set up Aadhar Krishi Gurukuls to impart structured courses in...

$30 BILLION INVESTMENT IN RETAIL SECTOR WITHIN 4-5 YEARS (India is expected to overtake the best retail economies by 2042).
February 28, 2007... (From India Business Insight) The retail sector in India is expected to attract investment of $30 billion within the next four to five years. India is expected to overtake the best retail economies of the world by 2042. The retail...

PUNJAB TRACTORS: SIGNS OF A BOUNTIFUL HARVEST (a number of companies are planning to bid for the stake in the company).
February 28, 2007... (From India Business Insight) A number of companies are planning to bid for a stake of 43.5 percent in Punjab Tractors Ltd (PTL). Actis has decided to sell its stake of 29 percent and Dabur is planning to sell its stake of 14.5 percent...

PRATIBHA INDUSTRIES: PIPING IN PROFITS (the company has entered into a tie-up with an Austrian company).
February 28, 2007... (From India Business Insight) Pratibha Industries Ltd (PIL) is planning to de-risk its business profile to improve its profit margin. The company derives a bulk of its revenues from water supply and distribution and waste management...

THERMAX: CONSERVE THE ENERGY (the company is planning to enter into the Chinese market).
February 28, 2007... (From India Business Insight) Thermax Ltd is planning to expand its capacity and enter into the Chinese market. The company specialises in energy conservation systems and captive power projects. Thermax had an order book of Rs3,024...

PAGE INDUSTRIES - IPO: NOT THE RIGHT FIT (the company intends to raise Rs50-Rs55 crore).
February 28, 2007... (From India Business Insight) Page Industries Ltd is planning to raise Rs50-Rs55 crore through an initial public offer (IPO). The company manufactures the VIP range of innerwear. Page Industries intends to offer 27.89 lakh shares to the...

CAFE COFFEE DAY, BARISTA TO EXPAND OVERSEAS OPERATIONS (the companies are also planning to expand their businesses in India).
February 28, 2007... (From India Business Insight) Caf Coffee Day (CCD) and Barista Coffee Company are planning to expand their overseas operations. The companies are also planning to expand their businesses in India. CCD has two outlets in Vienna and is...

KIL KOTAGIRI TEA INTO REJUVENATION, REPLANTING (the company had invested Rs1.5 crore to modernise the factory in 2006).
February 28, 2007... (From India Business Insight) Kil Kotagiri Tea and Coffee Estates Company is planning to take up rejuvenation and replanting of its tea bushes. The company had uprooted eight hectares of bushes in 2006 and expects to replant 15 to 20...

IOC PUMPING UP FUELLING INFRASTRUCTURE AT AIRPORTS (the company has commissioned hydrant refuelling at Kolkata airport).
February 28, 2007... (From India Business Insight) Indian Oil Corporation Ltd (IOC) is planning to upgrade its infrastructure at airports for refuelling of aircraft. The company provides refuelling facilities at 97 of the 117 airports in the country. ...

GLOBE EXPRESS OPENS 4 NEW OFFICES (the company intends to open offices in Chennai and Bangalore).
February 28, 2007... (From India Business Insight) Globe Express Services has opened new offices in Tuticorin, Kochi, Tirupur and Coimbatore. The company provides third party logistics services. Globe Express is also planning to open offices in Chennai...

HEAVY-AXLE-LOAD TRUCK SALES REV UP (the segment has registered a growth of 107.27 percent in 2006).
February 28, 2007... (From India Business Insight) The heavy-axle-load truck segment of 30-49 tonnes in India has registered a growth of 107.27 percent in sales at 22,325 units in 2006 (10,767 units in 2005). The multi axle segment of up to 25.2 tonne...

MUKESH TO PUMP Rs15K CRORE INTO RIL (through preferential issue of 12 crore warrants to be converted into equity shares over Mar 2007-Aug 2008).
February 28, 2007... (From India Business Insight) Mukesh Ambani and his associates, promoters of Reliance Industries Ltd (RIL), will invest about Rs15,000 crore by Aug 2008 in RIL to enhance the equity capital of the company. The investment will be made...

SARVA SHIKSHA ABHIYAN TO GET Rs10,700 CRORE (but the States are reluctant to utilise the increased funds as they have to contribute equal amount).
February 28, 2007... (From India Business Insight) The Sarva Shiksha Abhiyan (SSA), the programme for universalising elementary education of the Ministry of Human Resources and Development (MHRD), Government of India, will be allocated Rs10,700 crore for...

KALYANI LEMMERZ LINES UP $25 MILLION EXPANSION PLAN (to invest $15 million in a new plant for producing steel wheels for passenger cars).
February 28, 2007... (From India Business Insight) Kalyani Lemmerz Ltd (KLL), the 15:85 joint venture between the Kalyani Group and Hayes Lemmerz International Inc, will invest $25 million on capacity expansion programme. The company will invest $10 million...

TOURISM FOREX EARNINGS MAY KISS $10 BILLION IN 2007 (and foreign tourist arrivals to increase to 6.5 million in 2007).
February 28, 2007... (From India Business Insight) The Department of Tourism, Government of India, has projected an increase in foreign exchange (forex) earnings from the tourism sector at $10 billion in 2007 from $6.5 billion in 2006. The Department has...

HIMACHAL TO IMPLEMENT BIO-CARBON SUB-PROJECT (funded by the World Bank).
February 28, 2007... (From India Business Insight) World Bank has made an in-principle agreement with the Government of Himachal Pradesh (HP) to implement a bio-carbon sub-project under the Government's mid-Himalayan watershed development project. This will...

CENTRE APPROVES DPR FOR PROJECT IN ORISSA CAPITAL (an integrated sewerage project for the capital of Orissa).
February 28, 2007... (From India Business Insight) The Central Sanctioning Committee (CSC) of the Ministry of Urban Development, Government of India, has approved a detailed project report (DPR) for an integrated sewerage project for the capital of Orissa....

STATE BANK TOYS WITH INTEREST RATE CUT (after 31 Mar 2007 in view of RBI's decision to pay interest to cash reserve ratio).
February 28, 2007... (From India Business Insight) State Bank of India (SBI) will consider reducing interest rates after 31 Mar 2007, in view of the Reserve Bank of India's (RBI's) decision to pay interest to cash reserve ratio (CRR). SBI, which has a large...

EYEING INDIA (global insurance and financial services firms are planning entry into asset management business in India).
February 28, 2007... (From India Business Insight) Global insurance and financial services companies are considering entering into asset management business in India. India's robust stock market performance, strong economic fundamentals and healthy corporate...

FRESH SOPS LIKELY FOR RELOCATING INDUSTRIES TO BACKWARD AREAS (the National Planning Commission is to evolve a comprehensive definition of industrially backward districts).
February 28, 2007... (From India Business Insight) The Government of India is considering evolving a set of realistic proposals for new incentives for the relocation of major industries from urban areas to industrially backward districts. The advantages of...

SUGAR MILLS BEGIN HEDGING RISKS IN FUTURES MARKET (the daily volume on the National Commodities Exchange of India was 35,000-45,000 tonnes during Dec-Jan 2006-2007).
February 28, 2007... (From India Business Insight) Sugar mills have begun making forward sales in the futures market to increase their profit with the reduction in prices of sugar and a production glut. In all 30-40 sugar mills are actively trading in sugar...

MORE GLOBAL POWER COMPANIES TURNING TO INDIA (for opportunities in electricity generation, transmission and equipment manufacturing projects).
February 28, 2007... (From India Business Insight) Several international companies are looking for opportunities in India in power generation, transmission and equipment manufacturing projects. Among the international companies on the look out for...

VODAFONE MAY BRING ITS PRODUCTS (Vodafone Passport, Vodafone Simply and Vodafone Live services to India in addition to other common services).
February 28, 2007... (From India Business Insight) Vodafone of the UK is keen on bringing some of its popular services to India after it concludes the Hutch Essar deal by Apr 2007. Vodafone proposes to bring to India its Vodafone Passport, Vodafone...

COGNIZANT GETS LAND TO EXPAND IN HYDERABAD (to construct by 2012 a fully-owned techno-commercial complex with a built-up space of 2 million square feet).
February 28, 2007... (From India Business Insight) Cognizant Technology Solutions proposes to invest about Rs330 crore on an expansion programme in Hyderabad. The company proposes to construct by 2012 a fully owned techno-commercial complex with a built-up...

ACEPROCEDURES.COM TO COVER BUDGET (of the Government of India for 2007-2008).
February 28, 2007... (From India Business Insight) The website www.aceprocedures.com will provide an online coverage of the budget of the Government of India for 2007-2008. The site will provide free access to the event and will also feature budget text,...

RAJ TV TO PRODUCE CONTENT FOR THIRD PARTIES (from its new 27,000 square feet production facility that is to become operational by Dec 2007).
February 28, 2007... (From India Business Insight) Raj Television Network (RTN) proposes to produce television content for third party media companies. Now, all content produced by RTN is beamed on its own channel, Raj TV. RTN, which has facilities to...

SEBI BANS BROKERS FOR PRICE RIGGING IN SPANCO TELESYS (in 2000-2001).
February 28, 2007... (From India Business Insight) The Securities & Exchange Board of India (SEBI) on 23 Feb 2007 banned stockbroker Shirish C Shah from accessing the securities market for 2 years. The order has been issued for Shirish C Shah's...

CUT FLOWERS MAY SPELL FORTUNE FOR INVESTORS (India's floriculture exports are projected to grow by at least by 15% in 2006-2007 from Rs305 crore in 2005-2006).
February 28, 2007... (From India Business Insight) Floriculture exports of India are projected to grow by at least 15 percent in 2006-2007 from Rs305 crore worth of floriculture exports in 2005-2006. The demand for roses on Valentine's Day in 2007 at the...

GANGAVARAM PORT TO BE READY IN 2008 (as Gangavaram Port Ltd has achieved financial closure for the Rs1,700-crore Gangavaram port project).
February 28, 2007... (From India Business Insight) Gangavaram Port Ltd (GPL) is setting up India's deepest port at Gangavaram, near Visakhapatnam. It expects the port to be ready for trial runs by Dec 2007. The company has achieved financial closure for the...

NITK TO START 6 NEW POST-GRADUATE COURSES (from the academic year 2007-2008).
February 28, 2007... (From India Business Insight) The National Institute of Technology Karnataka (NITK) proposes to start 6 new post-graduate programmes from the academic year 2007-2008. The new courses are MTech. in construction management, rock...

SEBI MULLS PRICING CAP ON LISTING DAY (to prevent prices of newly-listed shares from increasing beyond a certain limit).
February 28, 2007... (From India Business Insight) The Securities and Exchange Board of India (SEBI) is considering imposing a price ceiling on the date a company's shares are first listed. The move is aimed at preventing prices of newly-listed shares...

FOREIGN PORTALS WITH INDIA BASE TO LOG TAX (payments made for using a portal of a foreign company will be subjected to tax deduction at source).
February 28, 2007... (From India Business Insight) Foreign websites, online travel and auction portals having a base in India will be liable to pay tax in India. The move follows a decision by the Authority for Advance Ruling (AAR), which directed that...

COMING SOON: CO-BRANDED ATMs (ATMs will be owned and operated by non-banks).
February 28, 2007... (From India Business Insight) The Reserve Bank of India (RBI) has given preliminary clearance to UTI Bank and Yes Bank to set up co-branded ATMs. While UTI Bank is working out the details with Financial Software and Systems (FSS) of...

GOVT MAY EASE ATF PRICE RISK ISSUE (will enable airlines to fix price of ATF with oil marketing companies).
February 28, 2007... (From India Business Insight) The Government of India is considering a proposal to allow Indian airline companies to hedge the price risk of aviation turbine fuel (ATF) purchased from oil marketing companies in India. The Government...

TELEDATA TO SET UP CHIP MAKING FACILITY (will involve an investment of about Rs300 crore).
February 28, 2007... (From India Business Insight) Teledata Informatics Ltd, Chennai, plans to set up a chip manufacturing facility in South India. The company is in negotiations with the State Governments of Andhra Pradesh, Karnataka and Tamil Nadu in...

KAKINADA SEZ FINANCIAL CLOSURE IN OCT (is expected to attract investments worth Rs60,000 crore).
February 28, 2007... (From India Business Insight) The proposed multi-product special economic zone (SEZ) at Kakinada is expected to achieve financial closure in Oct 2007. Kakinada SEZ Pvt Ltd, the special purpose vehicle (SPV) set up by Kakinada Seaports Pvt...

MANIPAL HOSPITAL ADDS GERIATRICS DEPARTMENT (will focus on health promotion, prevention and treatment of diseases and disability among senior citizens).
February 28, 2007... (From India Business Insight) Manipal Hospital, Bangalore, has launched a full-fledged department of geriatrics medicine. The department will focus on health promotion, prevention and treatment of diseases and disability among senior...

NEW RANGE OF FANS (are priced between Rs1,095 and Rs40,000).
February 28, 2007... (From India Business Insight) Usha International Ltd has launched a new range of fans priced between Rs1,095 and Rs40,000. The company has also strengthened its tie-up with Hunter Fan Company of the US to target the super premium segment...

SEWA, UN TO SET UP ENERGY PARK IN GUJARAT (aims to become a permanent exhibition centre for energy products and services).
February 28, 2007... (From India Business Insight) An energy park, based on reliable and affordable energy resources such as solar and biogas, will be set up at Manipur village near Ahmedabad, Gujarat. The park, promoted by SEWA Bank, Mahila Housing SEWA...