India Business Insight articles from July 2011

India Business Insight archives from July 2011

THE VALUE EDGE (KMCH of Coimbatore has earned the name as an ethically, professionally run hospital).
July 31, 2011... Kovai Medical Centre and Hospital (KMCH), a 800-bed hospital, is a quality medical centre in Coiambatore, Tamil Nadu. It has every department of medical care and has earned the name as an 'ethically, professionally run hospital'. It has latest...

INDIA INC PREFERS BANK FDS ON RISING INTEREST RATE, BUSINESS UNCERTAINTY (companies have invested Rs34,470 crore in FDs with banks in 2010-2011).
July 31, 2011... Indian companies are preferring to invest in fixed deposits (FDs) of banks due to the increase in interest rates and uncertainty in business. The companies have invested additional Rs34,470 crore in FDs in 2010-2011, taking the term deposits...

PROFITING FROM OTHER INCOME (Indian companies have gained from better treasury yields and investments).
July 31, 2011... Indian companies have announced higher other income due to better treasury yields and investments. Bharat Heavy Electricals Ltd has announced a growth of 22 percent in net profit for Apr-Jun 2011 despite a growth of 10 percent in revenue....

E-PAYMENT TO BE MANDATORY IF CUSTOMS DUTY EXCEEDS Rs1 LAKH (the CBEC is expected to notify the date soon).
July 31, 2011... The Central Board of Excise and Custom (CBEC) intends to make e- payment mandatory for importers paying customs duty of Rs1 lakh and more. The CBEC is expected to notify the date of application soon. Accredited importers under the Custom...

GUJARAT NARMADA'S Q1 NET, SALES SURGE (the company has announced a net profit of Rs41.65 crore for Apr-Jun 2011).(Financial report)
July 31, 2011... Gujarat Narmada Valley Fertilizers Company Ltd has announced a net profit of Rs41.65 crore for Apr-Jun 2011 (Rs22.67 crore for Apr-Jun 2010). Its sales have gone up to Rs644.21 crore (Rs367.81 crore). The company is expanding its capacity...

L&T FINANCE ISSUE PRICE SET AT Rs52 (the company expects to raise Rs1,115.4 crore through the IPO).
July 31, 2011... L&T Finance Holdings Ltd has fixed the issue price of its initial public offer (IPO) at Rs52 a share. The issue received 5.34 times more subscription during the book-building process. The company expects to raise Rs1,115.4 crore through the...

RAIN COMMODITIES Q2 NET ZOOMS (the company has announced a net profit of Rs164 crore for Apr-Jun 2011).(Financial report)
July 31, 2011... Rain Commodities Ltd has announced a net profit of Rs164 crore for Apr-Jun 2011 (Rs45 crore for Apr-Jun 2010). Its total income has gone up to Rs1,374 crore (Rs807 crore). The company has announced a net profit of Rs366 crore for Jan-Jun 2011...

PRESTIGE ESTATES NET GROWS 46% (the company has announced a net profit of Rs36.4 crore for Apr-Jun 2011).(Financial report)
July 31, 2011... Prestige Estates Projects Ltd has announced a growth of 46 percent in net profit at Rs36.4 crore for Apr-Jun 2011 (Rs24.92 crore for Apr-Jun 2010). Its net sales have declined to Rs248.41 crore (Rs259.57 crore). The company has announced other...

UNITED BANK NET RISES 22% ON FEE INCOME (the bank has announced a net profit of Rs132 crore for Apr- Jun 2011).(Financial report)
July 31, 2011... United Bank of India has announced a growth of 22 percent in net profit at Rs132 crore for Apr-Jun 2011 (Rs108 crore for Apr-Jun 2010). Its net interest income has gone up to Rs569 crore (Rs508 crore). The bank has announced fee income of...

SUZLON REPORTS Rs60-CRORE Q1 PROFIT (the company has announced revenue of Rs4,326 crore for Apr- Jun 2011).(Financial report)
July 31, 2011... Suzlon Energy Ltd has announced a net profit of Rs60 crore for Apr-Jun 2011 (net loss of Rs912 crore for Apr-Jun 2010). Its revenue has gone up by 80 percent to Rs4,326 crore. The company has sold a stake of 26 percent in Hansen to ZF...

HINDUJA GLOBAL EXITS INSURANCE BUSINESS (the company has announced a net profit of Rs20.29 crore for Apr-Jun 2011).(Financial report)
July 31, 2011... Hinduja Global Solutions Ltd (HGS) has decided to exit from insurance business in India. The company has redeployed the employees in other areas of operation. HGS has announced a net profit of Rs20.29 crore for Apr-Jun 2011 (Rs23.11 crore for...

GRASIM Q1 NET JUMPS 31% AS VSF, CEMENT BUSINESS DO WELL (the company has announced a net profit of Rs752 crore for Apr-Jun 2011).(Financial report)
July 31, 2011... Grasim Industries Ltd has announced a growth of 31 percent in net profit at Rs752 crore for Apr-Jun 2011 (Rs575 crore for Apr-Jun 2010). Its net sales have gone up to Rs5,872 crore (Rs5,055 crore). The company has announced revenues of...

POWER FINANCE Q1 NET UP 5% (the company has announced a net profit of Rs686 crore for Apr-Jun 2011).(Financial report)
July 31, 2011... Power Finance Corporation has announced a growth of five percent in net profit at Rs686 crore for Apr-Jun 2011 (Rs652 crore for Apr-Jun 2010). Its net sales have gone up to Rs2,908 crore (Rs2,405 crore). Rising interest rates have...

MIDFIELD LINES UP Rs50-CRORE EXPANSION (the company intends to set up a new plant at Rourkela).
July 31, 2011... Midfield Industries Ltd is planning to invest Rs50 crore to expand its capacity. The company has three manufacturing units in Hyderabad and intends to set up a new plant at Rourkela. Midfield is also planning to enter into the US and Canada and...

IIFL CONSOLIDATED NET DOWN 36.6% (the company has announced a net profit of Rs27.31 crore for Apr-Jun 2011).(Financial report)
July 31, 2011... IIFL has announced a decline of 36.6 percent in consolidated net profit at Rs27.31 crore for Apr-Jun 2011 (Rs43.14 crore for Apr- Jun 2010). Its total income has gone up to Rs358.65 crore (Rs305.91 crore). The company has reported expenses of...

ALLAHABAD BANK, UCO BANK RAISE LENDING RATE (by 50 basis points from 1 Aug 2011).
July 31, 2011... Allahabad Bank and UCO Bank have increased their lending rates by 50 basis points from 1 Aug 2011. The banks have increased the base rate from 10.25 percent to 10.75 percent. Both banks have increased the benchmark prime lending rate from 14.5...

POLICY INACTION CAN SLOW INFRASTRUCTURE PROJECTS: SREI CHIEF (the company has announced a net profit of Rs55 crore for Apr- Jun 2011).
July 31, 2011... The Chairman and Managing Director of Srei Infrastructure Finance Ltd is of the view that policy inaction by the Government of India can slow down infrastructure projects. The growth in the infrastructure sector is expected to slow down in the...

INDIA IS 2ND FASTEST GROWING MARKET FOR DOMESTIC AIR TRAVEL (domestic traffic in India has increased by 14 percent in Jun 2011).
July 31, 2011... The International Air Transport Association is of the view that India is the second fastest growing market for domestic air travel. Domestic air travel in India has increased by 14 percent in Jun 1011. Brazil has recorded a growth of 15.1...

GSFC PROFIT UP 31% IN Q1 (the company has announced a net profit of Rs142 crore for Apr-Jun 2011).(Financial report)
July 31, 2011... Gujarat State Fertilizers and Chemicals Ltd (GSFC) has announced a growth of 31 percent in net profit at Rs142 crore for Apr-Jun 2011 (Rs109 crore for Apr-Jun 2010). Its net sales have gone up to Rs1,208 crore (Rs1,067 crore). The company...

INTEL BETS ON LOW-COST NETBOOKS TO TAKE ON GROWING TABLET MARKET (the company intends to price the products at around Rs10,000).
July 31, 2011... Intel is planning to launch low-cost netbooks in India to compete with the tablet market. The company intends to price the products at around Rs10,000. Intel intends to focus on the first-time users in India. The company had sold five lakh...

ANTI-DUMPING DUTY ON POLYMER USED IN ELECTRICAL INSULATION TO CONTINUE (the Designated Authority has carried out the sun-set review).
July 31, 2011... The Government of India has decided to continue the anti-dumping duty on import of polytetraflouroethylene (PTFE) from China. PTFE is used in the insulation of electrical, electronics, mechanical and chemical industries. The Designated Authority...

GAIL (INDIA) - POTENTIAL IN PIPELINE (the company has announced a net profit of Rs985 crore for Apr-Jun 2011).(Financial report)
July 31, 2011... GAIL (India) Ltd has announced a growth of 11 percent in net profit at Rs985 crore for Apr-Jun 2011. Its turnover has gone up by 25 percent to Rs8,867 crore. The company is expanding its capacity from 170 million standard cubic metre a day...

GATEWAY DISTRIPARKS - RAKING IN PROFITS (the company has announced a net profit of Rs34 crore for Apr- Jun 2011).(Financial report)
July 31, 2011... Gateway Distriparks Ltd (GPL) has announced a growth of 138 percent in net profit at Rs34 crore for Apr-Jun 2011. Its consolidated revenue has gone up by 44 percent to Rs188 crore. The company operates two container freight stations at...

TITAN INDUSTRIES - SPARKLE IS IN BRANDS (the company has announced a net profit of Rs434 crore for 2010-2011).
July 31, 2011... Titan Industries Ltd (TIL) has announced a compounded annual growth of 41 percent in net profit at Rs434 crore for 2010-2011. Its revenues have gone up by 30 percent to Rs6,673 crore. The company has strong brands in jewellery, watches and...

GUJARAT ALKALIES Q1 NET UP ON HIGHER TURNOVER (the company has announced a net profit of Rs46.40 crore for Apr-Jun 2011).(Financial report)
July 31, 2011... Gujarat Alkalies and Chemicals Ltd (GACL) has announced a net profit of Rs46.40 crore for Apr-Jun 2011 (Rs19.01 crore for Apr- Jun 2010). Its turnover has gone up to Rs418.05 crore (Rs326.80 crore). The company has registered three projects...

PUNJAB & SIND BANK SEEKS Rs990 CRORE FROM CENTRE (the bank has announced a net profit of Rs64.09 crore for Apr- Jun 2011).(Financial report)
July 31, 2011... Punjab & Sind Bank (PSB) has asked the Government of India to infuse capital of Rs990 crore to help its business growth. The bank has scope for Rs1,674 crore of Tier-I capital and Rs1,171 crore of Tier-II capital. PSB had raised Rs300...

TOTO PLANS $50-MILLION FACILITY IN INDIA (the company is likely to set up the facility in Gujarat).
July 31, 2011... TOTO of Japan is planning to set up a manufacturing facility in Gujarat with an investment of $50 million. The company manufactures sanitary ware and bath fittings. TOTO has set up a subsidiary, TOTO India Industries Ltd, in India. The...

LANCO INFRA SETS UP HR ACADEMY (to build quality human capital).
July 31, 2011... Lanco Infratech Ltd has set up a leadership development institute, Lanco Academy, at Gurgaon. The company intends to build quality human capital at the academy. The academy is spread over 30,000 square feet and is equipped with modern...

EICHER MOTORS NET UP 38% ON BETTER TRUCK SALES (the company has announced a net profit of Rs76.3 crore for Apr-Jun 2011).(Financial report)
July 31, 2011... Eicher Motors Ltd has announced a growth of 38.29 percent in net profit at Rs76.3 crore for Apr-Jun 2011. Its consolidated income has gone up by 25.61 percent. The company has sold 1,654 units of heavy commercial vehicles (1,034 units in Apr-Jun...

IDBI BANK NET UP 34% ON LOWER PROVISIONS (the bank has announced a net profit of Rs335 crore for Apr- Jun 2011).(Financial report)
July 31, 2011... IDBI Bank has announced a growth of 34 percent in net profit at Rs335 crore for Apr-Jun 2011 (Rs251 crore for Apr-Jun 2010). Its total provisions have declined to Rs426 crore (Rs502 crore). The bank has merged IDBI Home Finance and IDBI...

CORPORATION BANK HIKES BASE RATE (by 40 basis points from 1 Aug 2011).
July 31, 2011... Corporation Bank has increased its base rate and benchmark prime lending rate (BPLR) from 1 Aug 2011. The bank has increased the base rate by 40 basis points to 10.65 percent. Corporation Bank has increased the BPLR by 50 basis points to 15...

ACER BETS ON AFTER-SALES SERVICE (the company has launched an accident insurance scheme).
July 31, 2011... Acer India intends to focus on after-sales service to expand its reach in the Indian market. The company had announced sales of Rs2,500 crore from India for 2010. Acer has entered into a ware- housing and repair agreement with DHL. The company...

DOMESTIC AVIATION TRAFFIC GROWS AT 14%, SAYS IATA (in Jun 2011 over 2010).
July 31, 2011... India's domestic aviation traffic registered 14 percent growth in Jun 2011 over Jun 2010, while Brazil tops with 15.1 percent growth said a report by the International Air Transport Association (IATA). The demand for air travel and freight...

GODREJ INDUSTRIES Q1 NET RISES (to Rs71.3 crore for Apr-Jun 2011).
July 31, 2011... Godrej Industries Limited has reported increase in net profit to Rs71.3 crore for Apr-Jun 2011 from Rs48.7 crore for Apr-Jun 2010. Its total income grew to Rs1,320.8 crore for Apr-Jun 2011 (Rs1,003 crore).

RAILWAYS COMPLETE LAND ACQUISITION FOR FREIGHT CORRIDOR (DFCCIL has acquired 268 kms between Khor in Haryana and Madar in Rajasthan).
July 31, 2011... The Indian Railways has completed land acquisition for the Western Dedicated Freight Corridor in Haryana and Rajasthan. The Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) has acquired 268 kms between Khor in Haryana and Madar in...

SYNDICATE BANK NET PROFIT RISES 29% (operating profit increases by 27%).(Financial report)
July 31, 2011... Syndicate Bank has a 29 percent increase in net profit at Rs343 crore in Apr-Jun 2011. The bank's operating profit increased by 27 percent to Rs743 crore. The increase in profits has been attributed to increase in advances and improved net...

KARNATAKA BANK NET RISES 7% (operating profit increases by 41.7%).
July 31, 2011... Karnataka Bank Ltd has reported a seven percent growth in net profit at Rs49.78 crore in Apr-Jun 2011. The bank's operating profit increased by 41.7 percent to Rs107 crore. Gross income increased by 25.3 percent to Rs768.8 crore. The...

FERRARI IS HERE (opens its first dealership in India at New Delhi).
July 31, 2011... Ferrari has opened its first dealership in India, 58th market for the carmaker, at New Delhi on 26 May 2011. The company will sell its models, Ferrari California priced at Rs2.2 crore, the 458 Italia priced at Rs2.56 crore, the 599 GTB Fiorano...

BOSCH'S ANNIVERSARY IN INDIA (proposes to incur an outlay of Rs2,500 crore in 2011-2013).
July 31, 2011... Bosch Group has celebrated its 125th anniversary in India. The group is planning to incur an outlay of Rs2,500 crore in India in 2011-2013 for capacity enhancement, diversification of business portfolio and research and development. The...

PROFILE OF MERCEDES-BENZ R350 (priced at Rs59.38 lakh).
July 31, 2011... The R350, a sports tourer vehicle offering from Mercedes-Benz and available at a price of Rs59.38 lakh, is equipped with a V6, petrol engine with a displacement of 3,498 cubic centimetres that develops power of 272bhp at 6,000 revolutions per...

PROFILE OF TOYOTA COROLLA ALTIS 1.8 VL (priced at Rs14.77 lakh).
July 31, 2011... The Corolla Altis 1.8 VL, an entry level D-segment sedan offering from Toyota and priced at Rs14.77 lakh, is equipped with an I-4 engine with a displacement of 1,798 cubic centimetres (cc) that develops power of 140PS at 6,400 revolutions per...

PROFILE OF APRILIA TUONO V4R APRC (priced at Rs8.43 lakh excluding duties).
July 31, 2011... The Tuono V4R APRC, a motorcycle offering from Aprilia, available at a price of Rs8.43 lakh excluding duties, equipped with a liquid-cooled V4 engine having displacement of 999.6 cubic centimetres, develops power of 166.6PS at 11,500 revolutions...

HSIL BUYS STAKE IN GARDEN (signs a share purchase agreement to buy 60 percent stake in Garden Polymers).
July 31, 2011... Hindustan Sanitaryware and Industries Limited (HSIL) has signed a share purchase agreement with existing promoter shareholders of Garden Polymers Private Limited to acquire 60 percent stake in the company. HSIL is a building products and...

HPCL SEEKS ALLIES FOR ANDHRA PETROCHEM (the project will be set up at PCPIR near Visakhapatnam).
July 31, 2011... Hindustan Petroleum Corporation Limited (HPCL) is scouting partners for its Rs45,000-crore petrochemicals project. It is holding talks with Total of France. The project will be set up at Petroleum, Chemical and Petrochemical Investment Region...

MAPLAN TO OPEN OFFICE IN NEW DELHI (growing importance of Indian market has made MAPLAN to open the new office).
July 31, 2011... MAPLAN, a rubber injection presses supplier, is opening a new sales and service office in New Delhi. The growing importance of Indian market has made MAPLAN to open the new office. MYPLAN is member of Starlinger Group of Companies.

MEAN MACHINES: HARISON MOTORS LAUNCH 'FUNTY' ATVs IN INDIA (priced in the range of Rs1.5-3 lakh).
July 31, 2011... Harison Motors has introduced its range of all terrain vehicles (ATVs) under its brand name, 'Funty' priced in the range of Rs1.5- 3 lakh. The company will initially make available in Western India these vehicles, imported as completely built...

HERO PLAN TO EXPAND OVERSEAS (to establish facilities and assembly operations).
July 31, 2011... Hero Honda has plans to establish facilities and assembly operations in foreign countries and to develop models of vehicles for the exclusively for overseas markets in addition to the existing models. The company that has exported only about...

RENT AN E-BIKE (ET Electrans Ltd has launches the scheme).
July 31, 2011... ET Electrans Ltd has launched a scheme called 'Rent A Bike' in Pune and has contracted with three franchisees to rent 50 bikes initially. The eco-friendly bikes will be powered by 750hp motor and will be charged on a per minute basis. ...

SHELL LUBRICANTS GET A MAKEOVER (the company revamps its product line-up to suit the Indian market of 2-wheelers).
July 31, 2011... Shell, the manufacturer of lubricants, has revamped its product line-up to suit the Indian market of 2-wheelers and has packaged its 'Shell Advance' products to facilitate the consumers to choose the right lubricant for their 2-wheelers to...

MARKET SHARE ANALYSIS OF TWO WHEELERS (Hero Honda ranked first in Apr-May 2011 with 9,89,599 units).
July 31, 2011... Hero Honda ranked first in the domestic sales of two wheelers in Apr-May 2011 with 9,89,599 units, Bajaj Auto ranked second with 4,14,292 units and TVS ranked third with 3,00,448 units. Hero Honda ranked first in Apr-May 2010 with 7,87,448...

TOP 1 LUBRICANTS AVAILABLE IN INDIA (the company has appointed Lucas Indian Service as the marketing and distributing agent).
July 31, 2011... Top 1 Oil Products Company of US has introduced its premium range of lubricants in India. The company has appointed Lucas Indian Service as the marketing and distributing agent. The premium brand offers lubricants for bikes in the range of...

PROFILE OF MAHINDRA VERITO 1.5 D6 (priced at Rs7.42 lakh).
July 31, 2011... The Verito 1.5 D6, a passenger car offering from Mahindra and available at a price of Rs7.42 lakh, is equipped with a 1,461 cubic centimetres, I-4 diesel engine that develops power of 65bhp at 4,000 revolutions per minute (rpm) and torque of...

PROFILE OF RANGE ROVER SPORT TD V6 (priced at Rs75.53 lakh).
July 31, 2011... The Rover Sport TD V6, a sports utility vehicle offering from Range and available at a price of Rs75.53 lakh, is equipped with a 2,993 cubic centimetres, V6 twin-turbo diesel engine that develops power of 241.6bhp at 4,000 revolutions per minute...

PROFILE OF RENAULT FLUENCE 2.0 (priced at Rs14.94 lakh).
July 31, 2011... The Fluence 2.0, a passenger car offering from Renault and available at a price of Rs14.94 lakh, is equipped with a 1,997 cubic centimetres, I-4 petrol engine that develops power of 135bhp at 6,000 revolutions per minute (rpm) and torque of...

PROFILE OF HONDA CIVIC 1.8 AT (priced at Rs14.66 lakh).
July 31, 2011... The Civic 1.8 AT, a passenger car offering from Honda and available at a price of Rs14.66 lakh, is equipped with a 1,799 cubic centimetres, I-4 petrol engine that develops power of 130bhp at 6,300 revolutions per minute (rpm) and torque of...

PROFILE OF SKODA LAURA 2.0 TDI (priced at Rs15.51 lakh).
July 31, 2011... The Laura 2.0 TDI, a passenger car offering from Skoda and available at a price of Rs15.51 lakh, is equipped with a 1,968 cubic centimetres, I-4 diesel engine that develops power of 110bhp at 4,200 revolutions per minute (rpm) and torque of...

PROFILE OF VOLKSWAGEN VENTO (priced in the range of Rs7.32-9.49 lakh).
July 31, 2011... The Vento, a passenger car offering from Volkswagen, is available with two different engine configurations and in the price range of Rs7.32-9.49 lakh. While the I-4, 1,598 cubic centimetres (cc), petrol engine that develops power of 105bhp at...

PROFILE OF MERCEDES-BENZ GL500 (priced at Rs79.4 lakh).
July 31, 2011... The GL500, a sports utility vehicle offering from Mercedes-Benz and available at a price of Rs79.4 lakh, is equipped with a 5,461 cubic centimetres, V8 petrol engine that develops power of 388bhp at 6,000 revolutions per minute (rpm) and torque...

PROFILE OF TOYOTA LAND CRUISER VX (priced in the range of Rs84.97-86.51 lakh).
July 31, 2011... The Land Cruiser VX, a sports utility vehicle offering from Toyota and available in the range of Rs84.97-86.51 lakh, is equipped with a 4,461 cubic centimetres, V8 turbo-diesel engine that develops power of 282bhp at 3,600 revolutions per minute...

PROFILE OF QT WILDCAT 300 STR (priced at Rs45 lakh excluding duties).
July 31, 2011... The Wildcat 300 STR, a sports utility vehicle offering from QT and available at a price of Rs45 lakh excluding duties, is equipped with a 4,000 cubic centimetres, V8 engine that develops power of 270bhp and torque of 41.4kgm. The Wildcat 300 STR...

FORCE MOTORS EYE SUV SEGMENT (incurs an outlay of Rs150 crore for setting up the facility to make SUVs).
July 31, 2011... Force Motors Ltd (FML), manufacturer of commercial vehicles, proposes to enter passenger vehicle segment by introducing its sports utility vehicle (SUV) under its brand, 'Force One' in Jul 2011. The company has incurred an outlay of Rs150...

RESURGENT FIAT: PLANS REVAMP OF CURRENT CAR MODELS, INTRODUCTION OF NEW ONES (establishes showrooms independent of Tata to achieve an independent brand image).
July 31, 2011... Fiat is going through a restructuring exercise by upgrading current models and introducing new ones and is establishing showrooms independent of Tata to achieve an independent brand image. The company has planned to relaunch its models, Punto...

RENAULT TO BRING IN KOLEOS SUV (to add 14 dealers in Tier-1 cities and take the total dealers to 40 by 2011 and 100 by 2012).
July 31, 2011... Renault has inaugurated 'Renault Delhi West', its first exclusive showroom in Delhi and has plans to add 14 dealers in Tier-1 cities and take the total dealers to 40 by 2011 and 100 by 2012. The company has plans to introduce its first hatchback...

SECURE ADVANCED FROM BMW (to increase the ownership experience of a BMW product).
July 31, 2011... BMW India has introduced a value added service called 'BMW Secure Advanced' for the vehicles sold by its dealers in India to increase the ownership experience of a BMW product. This service includes replacement of tyre, damage of rim,...

TATA TECHNOLOGIES CENTRE (inaugurated in Bengaluru).
July 31, 2011... Tata Technologies providing engineering and manufacturing services has inaugurated its global engineering centre in Bengaluru to provide services to its global portfolio of clients in the automobile, aerospace, construction and heavy engineering...

THIRD BASE: RED ROOSTER PERFORMANCE NOW IN MUMBAI (deals in suspension systems, air-filters and engine control units).
July 31, 2011... Red Rooster Performance of Bengaluru that deals in auto aftermarket products has tied up with Four Seasons Automobiles to establish its second franchise in Mumbai. The company with presence in Bengaluru, Mumbai and Chennai deals in suspension...

PROFILE OF HYUNDAI VERNA 1.6DSL SX VGT (priced at Rs11,79,307).
July 31, 2011... The Verna 1.6DSL SX VGT, a passenger car offering from Hyundai and priced at Rs11,79,307, is equipped with an I-4, diesel engine with a displacement of 1,582 cubic centimetres that develops power of 128PS at 4,000 revolutions per minute (rpm)...

PROFILE OF JAGUAR XKR-S (prices at Rs90 lakh estimated).
July 31, 2011... The XKR-S, a prestige sedan offering from Jaguar and available at a price of Rs90 lakh, is equipped with a Supercharged V-8 engine with a displacement of 5,000 cubic centimetres (cc) that develops power of 550PS at 6,000-6,500 revolutions per...

PROFILE OF PEUGEOT 508 2.0 HDI (priced at Rs19 lakh).
July 31, 2011... The 508 2.0 HDI, an upmarket saloon offering from Peugeot and available at a price of Rs19 lakh, is equipped with a Turbocharged I-4 diesel engine with a displacement of 2,000 cubic centimetres (cc) that develops power of 165PS at 3,750...

PROFILE OF MERCEDES-BENZ C250 CDI ELEGANCE (priced at Rs43 lakh).
July 31, 2011... The C250 CDI Elegance, an executive luxury sedan offering from Mercedes-Benz and available at a price of Rs43 lakh, is equipped with a 4-cylinder diesel engine with a displacement of 2,143 cubic centimetres that develops power of 201bhp and...

PROFILE OF RANGE ROVER EVOQUE SD4 DYNAMIC COUPE 4WD (equipped with a 4-cylinder diesel engine with a displacement of 2,179 cubic centimetres).
July 31, 2011... The Rover Evoque SD4 Dynamic Coupe 4WD, a luxury car offering from Range, is equipped with a 4-cylinder diesel engine with a displacement of 2,179 cubic centimetres that develops power of 190bhp and torque of 420Nm. The Rover Evoque SD4 Dynamic...

HALDIA PETROCHEMICALS PLANS THREE POLYMER CLUSTERS IN BENGAL (to locate plastic products' manufacturing firms).
July 31, 2011... Haldia Petrochemicals Limited (HPL) is planning to set up three polymer parks in West Bengal on 100 acres. These parks will locate plastic products' manufacturing firms. HPL manufactures polymer granules and value-added chemical products.

CV SALES SURGE IN MAY (registered a growth of 9.3 percent from 22,253 units in May 2010 to 24,330 units in May 2011).
July 31, 2011... The sales of commercial vehicles have registered a growth of 9.3 percent from 22,253 vehicles in May 2010 to 24,330 units in May 2011. The light commercial vehicles have seen a growth of 29.9 percent and the intermediate commercial vehicles...

SHRIRAM TRANSPORT PLANS BORROWINGS OF Rs12,000 CRORE (contemplates a second retail bond issue by 2011-2012).
July 31, 2011... Shriram Transport Finance Company with its assets under management at Rs36,000 crore has plans to borrow about Rs12,000 crore in 2011-2012. The company is contemplating a second retail bond issue by Mar 2012 in addition to the current...

KSRTC TO ADD 1,000 BUSES (by Mar 2012).
July 31, 2011... Kerala State Road Transport Corporation (KSRTC) has plans to buy 1,000 buses by Mar 2012 and the number of its drivers will be increased by 2,000. KSRTC is estimated to incur a loss of Rs40 crore per month. It proposes to increase...

SETCO TO SET SHOP IN AFRICA (with an investment of Rs150 crore).
July 31, 2011... Setco Automotive, maker of Lipe clutches for medium and heavy commercial vehicles is planning to incur an outlay of Rs150 crore to establish an assembly unit in North India and a facility for assembling clutches in Africa by 2015. The company...

DUCATI OPENS DEALERSHIP IN NEW BEGALURU (the new showroom will offer premium motorcycles, apparel and merchandise of Ducati Brand).
July 31, 2011... Ducati Motor of Italy has inaugurated its fourth dealership in India at Bengaluru. The new showroom will offer premium motorcycles, apparel and merchandise of Ducati Brand. The three other dealerships of Ducati are situated at Delhi,...

VE COMMERCIAL VEHICLES LAUNCHES NEW SERIES (targets market share of 15 percent in the heavy-duty truck segment by 2015).
July 31, 2011... VE Commercial Vehicles Limited, a 50:50 partnership between Volvo and Eicher, is launching VE Series of heavy-duty trucks. The company has targeted market share of 15 percent in the heavy-duty truck segment by 2015. The VE Series...

PROFILE OF FIAT GRANDE PUNTO 1.2 (priced in the range of Rs4.31-4.93 lakh).
July 31, 2011... The Grande Punto 1.2, a hatchback offering from Fiat and available in the price range of Rs4.31-4.93 lakh, is equipped with a 4-cylinder, 1,172 cubic centimetres petrol engine that develops power of 68PS at 6,000 revolutions per minute (rpm) and...

PROFILE OF TATA INDICA VISTA SAFIRE (priced in the range of Rs4.55-5.97 lakh).
July 31, 2011... The Indica Vista Safire, a hatchback offering from Tata and available in the price range of Rs4.55-5.97 lakh, is equipped with a 4-cylinder, 1,172 cubic centimetres petrol engine that develops power of 90PS at 6,000 revolutions per minute (rpm)...

ING VYSYA BANK RAISES Rs970 CRORE (to strengthen its capital base).
July 31, 2011... ING Vysya Bank has raised Rs970 crore through qualified institutional placements (QIP) route and preferential allotment. It raised Rs513 crore through QIPs and the rest from the ING Group by way of preferential allotment. ING Vysya Bank raised...

IDBI TO RAISE $250 MILLION (through issuance of bonds with partial guarantee from ADB).
July 31, 2011... IDBI plans to raise $250 million through issuance of bonds. The bonds will have a partial guarantee of Asian Development Bank (ADB). The issue is likely to take place in three months. IDBI's tie up with ADB will result in reducing the fund...

IMAGE LOGISTICS TO OPEN OFFICE IN SINGAPORE (by Jul 2011 to strengthen its international network).
July 31, 2011... Image Logistics is opening its office in Singapore by Jul 2011 to strengthen its international network. It has already opened its overseas offices in Hong Kong and China (Shenzhen and Guangzhou).

THREE ACES GLOBAL LOGISTICS REPRESENTS CONQUEROR (Freight Network in New Delhi).
July 31, 2011... Conqueror Freight Network has selected Three Aces Global Logistics as its representative in New Delhi. Three Aces offers international logistics services, outbound and inbound air freight, outbound and inbound sea freight, door-to-door shipments...