India Business Insight articles from July 2006, page 64

India Business Insight archives from July 2006

MALABAR HILL APARTMENT SOLD FOR Rs25.5 CRORE (the 4,400-square-foot apartment has been sold by American Express).
July 1, 2006... (From India Business Insight) A 5-bedroom, hall, kitchen (5-BHK) apartment at Malabar Hills in Mumbai has been sold by American Express for Rs25.5 crore. The 4,400-square- foot duplex apartment was on the 14th-15th floor in the Il...

BANGALORE TO GET ANOTHER INTERNATIONAL SCHOOL (the Ebenezer International School is coming up on Hosur Road in Bangalore).
July 1, 2006... (From India Business Insight) The Ebenezer International School is coming up on Hosur Road in Bangalore. Abraham Ebenezer, former Principal of Bishop Cotton Boys' School, is setting up the school. The school, which will start...

FIRST PHASE OF RS2.5-CRORE ECO-TOURISM PROJECT NEARING COMPLETION IN KONNI (will be commissioned in the next 3 months).
July 1, 2006... (From India Business Insight) The Eco-Tourism Department, Forest Department and the Tourism Department of the Government of Kerala are jointly promoting a Rs2.5- crore eco-tourism project at Konni in Kerala. The first phase of the...

BAYER MATERIAL TO SET UP UNIT IN GREATER NOIDA (that will be operational by 2007).
July 1, 2006... (From India Business Insight) Bayer Material Science, a company of the Bayer group, will be setting up its first polyurethane systems house in Greater Noida, which will be operational by 2007. The company's India operations will be...

POWER DEFICIT IN THE COUNTRY PUT AT 10.7% (1,01,666 million units available against a requirement of 1,13,868 million units).
July 1, 2006... (From India Business Insight) During Apr-May 2006, the availability of electricity in India was 1,01,666 million units against a requirement of 1,13,868 million units, a deficit of 10.7 percent. This is as per the report of an analysis...

ULIPs UNDERGO A SEA CHANGE FROM JULY 1 (the new ULIP will have a 3-year lock-in period and a minimum sum assured of 5% of the total annualised premium).
July 1, 2006... (From India Business Insight) The Insurance Regulatory and Development Authority (IRDA) has directed the insurance companies to stop selling the Unit-Linked Insurance Policy (ULIP) in the existing format. The new ULIP will have a 3-year...

BAJAJ ALLIANZ LIFE LAUNCHES 7 NEW ULIPs (which will be sold from 1 Jul 2006).
July 1, 2006... (From India Business Insight) Bajaj Allianz Life Insurance has launched 7 new Unit Linked Insurance Plans (ULIPs). The products are based on guidelines issued by the Insurance Regulatory and Development Authority (IRDA) for new...

APOLLO EYES STAKE WORTH $75 MILLION IN FOREIGN HOSPITALS (10% stake in a 250-bed hospital in Fiji for $35 million and a 26% stake in a 200-bed hospital in Mauritius for $40 million).
July 1, 2006... (From India Business Insight) Apollo Hospitals Enterprise Ltd (AHEL) is acquiring a 10 percent stake in a 250-bed hospital in Fiji for $35 million and a 26 percent stake in a 200-bed hospital in Mauritius for $40 million. AHEL already...

CARLSBERG, HEINEKEN HIGH ON SHIVALIK (are exploring the possibility of acquiring a stake in the Mount Shivalik group).
July 1, 2006... (From India Business Insight) Two of the leading beer companies of the world-Heineken and Carlsberg - are exploring the possibility of acquiring a stake in the Mount Shivalik group, one of the big beer manufacturers of India. The Rs250-...

CEAT TYRES TO EXPAND CAPACITY (a new unit coming up in Sri Lanka).
July 1, 2006... (From India Business Insight) Ceat India will set up a new manufacturing facility in Sri Lanka for radial tyres and raise its Nashik facility capacity, the two projects together at a cost of Rs50 crore. The Lankan unit will have a...

RICO AUTO TO EXPAND PRODUCT PORTFOLIO (at a cost of Rs100 crore).
July 1, 2006... (From India Business Insight) Rico Auto of Gurgaon had spent Rs140 crore in Apr 2005-Mar 2006, and will invest Rs100 crore in Apr 2006-Mar 2007 for raising its capacity and adding to its product portfolio in association with Teksid...

HERO HONDA EYES HIMACHAL (investing Rs550 crore for two- and three-wheelers).
July 1, 2006... (From India Business Insight) Hero Honda Motors has approached Himachal Pradesh government for allotment of 300 acres near Nalagarh in Solan district for setting up a Rs550-crore unit for production of two- and three-wheelers. The...

HYUNDAI, MARUTI TO HIKE PRICES. (in Jul 2006).
July 1, 2006... (From India Business Insight) Hyundai Motor India will raise the prices of Santro, Getz, Accent and Sonata Embera models by about Rs15,000 each in early Jul 2006 as a result of the rise in raw material costs. Maruti Udyog is also likely...

REFEX BAGS HFC ORDER FROM HYUNDAI (for cars to be manufactured at its second unit).
July 1, 2006... (From India Business Insight) Refex Refrigerants of Chennai, a joint venture between Bombay Metals and Kaltech Refrigeration and Engineering of Singapore, has got an order from Hyundai Motor India for supplying HFC (hydrofluorocarbon)...

MK AUTOCOMP EYES LARGER SLICE OF GLOBAL PIE (exports to go up from 15 percent of turnover to 40 percent).
July 1, 2006... (From India Business Insight) MK Autocomponents of Chennai expects a turnover of Rs40 crore in Apr 2006-Mar 2007 and of Rs100 crore by 2010-2011. It exported 15 percent of turnover in Apr 2005-Mar 2006 and hopes for 40 percent in Apr...

METEXIM ALL SET TO TURN SUPPLIER TO VALEO MEXICO (prototype already sent for approval).
July 1, 2006... (From India Business Insight) Metexim (Sourcing) of Chennai has been exporting to Valeo's plants in France and Poland. It has sent a prototype of driveshaft for starter motors to Valeo's Mexico plant and commercial production at...

GM ROLLS OUT SPORTY CHEVY SRV (it is an Optra-platform car).
July 1, 2006... (From India Business Insight) General Motors India (GM) has launched an imported completely knocked-down unit of Optra-platform Chevrolet SRV from Italy, where Italdesign designed it. Chevrolet SRV has local components of 45...

PRECISION GROUP AIMS FOR JAPAN AND KOREA (camshafts for Boxster engines).
July 1, 2006... (From India Business Insight) Precision Group of Solapur is supplying camshafts to General Motors, Ford, and DaimlerChrysler cars in Europe. It is now in negotiations with Porsche and BMW for camshaft supplies for BMW 6 series and...

VOLVO ROLLS OUT FH, FM TRUCKS (in Hoskote).
July 1, 2006... (From India Business Insight) Volvo has launched its FH and FM 13-litre trucks from its Hoskote plant. Volvo sold 600 trucks and 400 buses in 2005 and hopes to boost the sales in view of the latest trucks' fuel economy, safety and...

IVRCL Vs HCC: CONSTRUCTING INDIA! (are the two major companies operating in the domestic construction sector).
July 1, 2006... (From India Business Insight) IVRCL Infrastructure and Projects (IVRCL) and Hindustan Construction Company Ltd (HCC) are the two major companies operating in the domestic construction sector. IVRCL initially took up small projects...

IVRCL Vs HCC (HCC is a more diversified company than IVRCL).
July 1, 2006... (From India Business Insight) Hindustan Construction Company Ltd (HCC) is a more diversified company than IVRCL Infrastructure and Projects (IVRCL). IVRCL, though functioning in four distinct segments, derives over 60 percent of its...

ESSENTIAL COMMODITIES ACT MAY GO (FRCA Amendment Bill will allow foreign trade bodies and mutual funds to trade in commodity futures).
July 1, 2006... (From India Business Insight) The Government of India is planning to remove the Essential Commodities Act (ECA). It was enforced to protect the interests of consumers during war, emergency and shortage of food. The Ministry of Consumer...

5 COMPANIES BAG STC WHEAT IMPORT CONTRACT (2.2 million tonnes of wheat will be imported between Sep 2006 and Jan 2007).
July 1, 2006... (From India Business Insight) The State Trading Corporation has awarded the contract to import 2.2 million tonnes of wheat to five companies. The tender states that the wheat import should arrive between Sep 2006 and Jan 2007. Toefer of...

SAI POSHAK AHAR, PROTEIN-RICH FOOD SUPPLEMENT FOR THEMAL NOURISHED (food supplement will be supplied to 15,000 malnourished children in Maharashtra).
July 1, 2006... (From India Business Insight) The Sathya Sai Institute of Agriculture and Biotechnology has produced the Sai Poshak Ahar. The food supplement contains protein-rich germinated cereals, germinated pulses, sugar, cardamom, salt,...

AIRFREIGHT SUBSIDY FOR EXPORT OF PERISHABLE ITEMS FROM NE (exporters of banana, guava, lemon and orange will be given an assistance of 50% in freight charges).
July 1, 2006... (From India Business Insight) The Government of India will provide 50 percent of assistance in freight charges for perishable items from any airport in the North-East states (NES) to Delhi or Mumbai airports. Exporters of banana, guava,...

IRCTC TO INVITE BIDS FOR BUDGET HOTELS (budget hotels will be built on 13 sites on a build- operate-transfer basis for 30 years).
July 1, 2006... (From India Business Insight) The Indian Railways Catering and Tourism Corporation (IRCTC), a branch of the Railways will float tenders to build hotels. The budget hotels will be built on 13 sites on a build-operate-transfer basis for 30...

JAPANESE BAN ON INDIAN MANGOES GOES, FINALLY (varieties like Alphonso, Banganapalli and Kesar grown in Maharashtra and Gujarat will be exported to Japan).
July 1, 2006... (From India Business Insight) Japan has decided to allow the import of Indian mangoes after a period of 20 years. The Japanese Ministry of Agriculture, Forestry and Fisheries conveyed the decision to the Government of India. India...

SHRIMP FARM PRODUCTION UP DESPITE NATURE'S FURY (at 1,43,170 tonnes in 2005-2006).
July 1, 2006... (From India Business Insight) The aquaculture production of shrimp in India registered a growth of 14 percent to 1,43,170 tonnes in 2005-2006 in spite of natural calamities. The shrimps were produced on an area of 1,40,682 hectares. The...

IICT TO SET UP NATURAL PRODUCTS RESEARCH FACILITY IN HYDERABAD (DST will invest Rs16 crore and CSIR Rs8 crore for the facility).
July 1, 2006... (From India Business Insight) The Indian Institute of Chemical Technology (IICT) will set up a National Facility for Combinatorial Natural Products in Hyderabad. The Department of Science and Technology (DST) and the Council for...

MAMA MIA GELATO FORAYS INTO BANGALORE (a scoop of Mama Mia ice cream costs Rs40-50 and the sundaes are priced between Rs80 and Rs140).
July 1, 2006... (From India Business Insight) Mama Mia Gelato, an Italian company, has launched its ice creams in Bangalore. The ice creams are vegetarian and are free from sugar, fat content being 96 percent. The ice creams can be consumed by...

COOKIES TARGETING NEWER OVERSEAS MARKETS (company will increase its capacity to 4,200 tonnes and will start exporting to Africa and Latin America).
July 1, 2006... (From India Business Insight) Cookies India Pvt Ltd wants to export its products to the African and the Latin American markets. The company exports its products to Botswana, South Africa and Yemen. The company is planning to...

SUGAR IMPORT NOT A VIABLE IDEA (international sugar prices are higher than the local).
July 1, 2006... (From India Business Insight) The average domestic price of sugar is Rs18,500 or $404 for a tonne. The international sugar price for August delivery will cost $470 for each tonne. Imported sugar along with landing charges will cost...

DABUR TO DEMERGE FOODS DIVISION (separating the foods division will help Dabur India raise funds for acquisitions).
July 1, 2006... (From India Business Insight) Dabur India is planning to separate its foods division, Dabur Foods into a separate company. Separating the foods division will help the company raise funds for acquisitions. Dabur Foods registered a net...

HLL'S MODERN FOOD UP FOR SALE (HLL had purchased 74% equity in Modern Food for Rs105 crore in 2000).
July 1, 2006... (From India Business Insight) Hindustan Lever Ltd (HLL) is planning to sell Modern Food. HLL had purchased 74 percent of equity in Modern Food for Rs105 crore from the Government of India in 2000. Modern Food's distribution network was...

ITC WILL GIFT GARDENIA TO BANGALORE (group will establish three hotels in Bangalore and will invest Rs1,000 crore into the projects).
July 1, 2006... (From India Business Insight) ITC Hotels is constructing a 230-room super deluxe seven star hotel in Bangalore. The project will be completed by Oct-Dec 2008. The group is planning to construct two more properties in Bangalore. The...

HLL RELAUNCHES BROOKE BOND TAJ MAHAL (brand has been relaunched with new packaging, an expanded product range and a new advertising campaign).
July 1, 2006... (From India Business Insight) Hindustan Lever Ltd has reintroduced Brooke Bond Taj Mahal in the market. The tea brand has been relaunched with an expanded product range, improved packaging and a new advertising campaign. The design...

ENERGY DRINK 'EFFECT' INTRODUCED (Effect is a vegetarian non-alcoholic energy drink and is available in New Delhi, Bangalore, Kolkata, Chandigarh).
July 1, 2006... (From India Business Insight) Miller Brands Germany International and SM International have launched 'Effect' in Bangalore. Effect is a 100-percent non-alcoholic vegetarian energy drink with a non-medicinal taste. The drink provides...