India Business Insight articles from November 2008

India Business Insight archives from November 2008

GAIL REPEATS PIPELINE TENDERS (the decision follows steep decline in prices of steel).
November 30, 2008... GAIL India Ltd (GAIL) has called for a re-tender of bids for its Rs5,492-crore Vijaipur-Dadri-Bawana pipeline project(VDBPL). The decision comes in the wake of steep decline in prices of steel. The pipes will be laid from Vijaipur in...

RBI RELAXES NORMS (under asset classification and provisions for banks with regard to seven delayed infrastructure projects).
November 30, 2008... Reserve Bank of India (RBI) has relaxed asset classification and provisioning norms for banks with regard to seven delayed infrastructure projects. As per the reclassification guidelines, banks can classify the projects under 'Standard'...

INFRA PROJECTS TO GET LOAN RELIEF (as high and volatile interest rates have made many companies to shy away from bidding for new infrastructure projects).
November 30, 2008... The Planning Commission and the Ministry of Finance, Government of India, are together finalising a proposal to subsidise loans for infrastructure projects offered through public bids. The Government intends to arrest the interest rate...

MARUTI TO DEVELOP MULTIPLE FUEL OPTIONS (to implement them in a phased manner).
November 30, 2008... The Research and Development (R&D) centre of Maruti Suzuki India Ltd is working on multiple fuel options for all its cars and plans to implement them in a phased manner. The company also proposes to realign its production activity due to...

AKZONOBEL TO SET UP PLANT AT HOSKOTE (facility to manufacture coil and specialty plastic coatings).
November 30, 2008... AkzoNobel, a global producer of coatings and specialty chemicals, plans to set up a manufacturing facility in India. The proposed plant, to be set up at a cost of Rs52 crore, will be located in Hoskote near Bangalore. The facility will...

VOLKSWAGEN TO EXPAND BUSINESS (sets up a new manufacturing unit in Pune).
November 30, 2008... Volkswagen AG proposes to invest $730 million in India to expand its business. The company is setting up a new manufacturing unit in Pune that will produce 1,10,000 cars per annum. Volkswagen plans to set up 15 dealerships in India and...

GM, BPCL INKS PACT (to open Chevrolet authorised service centres at BPCL workshops).
November 30, 2008... General Motors India (GM) has signed an agreement with Bharat Petroleum Corporation Ltd (BPCL) to set up Chevrolet authorised service centres at select BPCL workshops. GM will initially open 15 new service centres by Dec 2008. BPCL has 50...

DELPHI INVESTING Rs250 CRORE (to set up a new electronics manufacturing unit in Chennai).
November 30, 2008... Delphi Corporation plans to set up a new electronics manufacturing unit in Chennai at a cost of Rs250 crore. The unit will be built in three phases and is expected to be commissioned by Dec 2009.

AMARJA'S ECO-FRIENDLY HOMES IN LONAVALA (utilises solar energy and wind energy resources).
November 30, 2008... Nanak Properties has launched Amarja Estates, an eco-friendly and maintenance-free housing project in Lonavala. The project, located at 3,000 metres above sea level, will spread across 55 acres of land and will comprise 100 spacious...

PARSVNATH IN JV WITH SAN JOSE (to bid for power generation and transmission projects).
November 30, 2008... Parsvnath Developers of New Delhi has formed a 50:50 joint venture (JV) with Constructora San Jose SA of Spain. The JV, San Jose-Parsvnath Consortium, will bid for projects in transport, aviation, power generation and transmission. The...

TDI LAUNCHES PREMIER PROJECTS (on NH1 in Kundli near Delhi).
November 30, 2008... TDI Infrastructure Ltd (TDIL), a real estate company, has launched two premier projects, Kingsbury Terraces and Urban Farms. Kingsbury Terraces is meant for the high-end customer, with prices starting from Rs70 lakh. Urban Farms will...

TOTAL TO PICK STAKE IN OMEL'S OIL BLOCKS (picks up 25.67% stake in OPL 285).
November 30, 2008... Total SA of France in association with ONGC Mittal Energy (OMEL) will acquire stake in two deepwater oil exploration blocks in Nigeria. Total SA will acquire 25.67 percent stake in deep offshore block OPL 285 and OMEL will pick up 14.5...

AREVA, BHEL IN JV (to manufacture European Pressurised Reactors of 1,600 mw capacity).
November 30, 2008... Areva T&D India is holding talks with Bharat Heavy Electricals Ltd (BHEL) to form a joint venture to manufacture European Pressurised Reactors (EPR) of 1,600 megawatts (mw) capacity. BHEL will have 26 percent stake in the JV. The proposed...

QATAR TO INVEST $5BN IN ENERGY (and fertiliser projects in India).
November 30, 2008... Government of Qatar plans to invest $5 billion in energy and fertiliser projects in India. Government of Qatar and Government of India will identify projects in energy, power, fertilizer and related sectors for the purpose.

ONGC, UCIL SIGNS MoU (for joint exploration and development of Uranium in India).
November 30, 2008... Oil & Natural Gas Corporation (ONGC) has signed a memorandum of understanding (MoU) with Uranium Corporation of India Ltd (UCIL) for joint exploration and development of Uranium in India. The two companies will exchange ideas and...

RAJPURA PROJECT BY DEC (coal-based power plant to be set up on BOO basis).
November 30, 2008... Nabha Power, a subsidiary of Punjab State Electricity Board, will set up a 1,200-megawatt (mw) coal-based power plant at Rajpura in Patiala. The project has been approved by the Council of Ministers, Government of Punjab. The power...

JSW PUTS JHARKHAND PROJECT ON HOLD (due to slump in the demand for steel and global financial crisis).
November 30, 2008... JSW Steel has decided to defer its Jharkhand project for production of steel due to the global economic slowdown and slump in the demand for steel. The company had proposed production of 10 million tonnes of steel per annum. The project was...

WELSPUN SHELVES EXPANSION PLANS (to focus on consolidating its existing production).
November 30, 2008... Welspun Gujarat Stahl Rohren has decided to defer its expansion plans due to the global economic slowdown. The company had proposed a Rs5,000-crore expansion programme for its backward- integration plan in Gujarat. The company will...

FALCON FOR CAPACITY EXPANSION (to expand its manufacturing capacity from 7.5 lakh tyres to 12.5 lakh tyres per annum).
November 30, 2008... Falcon Tyres plans to expand its manufacturing capacity from 7.5 lakh tyres to 12.5 lakh tyres per annum at its Mysore plant in Karnataka. The company will invest Rs125 crore for the purpose. Falcon tyres also plans to launch new...

PARADEEP UNIT TO RAISE PRODUCTION (to 3 million tonnes per annum by 2010).
November 30, 2008... Indian Farmers Fertiliser Cooperative Ltd has decided to increase its production at its Paradeep Unit. Production of diammonium phosphate (DAP) fertiliser will be increased to three million tonnes per annum by 2010. The unit intends to...

WBMDC, NMDC FOR JV (for exploration and mining of coal in West Bengal).
November 30, 2008... West Bengal Mineral & Development Corporation (WBMDC) plans to form a joint venture (JV) with National Mineral Development Corporation (NMDC) for exploration, development and mining of coal in West Bengal. The proposed JV aims to supply...

RAILWAYS: IR FALL SHORT OF PLAN TARGETS IN NEW LINE PROJECTS (set up 920 km of new railway lines against a target of 1,310 km).
November 30, 2008... Indian Railways (IR) was not able to achieve its target of new rail lane laying for the Tenth Plan period 2002-2007 due to land acquisition problems. IR was able to lay 920 kilometres (km) of new railway lines against a target of 1,310 km....

IR TO SET UP BIODIESEL PLANTS (at a total cost of Rs78.5 crore).
November 30, 2008... Indian Railways (IR) and Indian Railway Organisation for Alternative Fuel have proposed to set up four biodiesel esterification plants on railway land. IR plans to blend diesel with 5 percent of biodiesel and gradually increase it to 20...

MMRDA TO RAISE Rs12,000 CR (through construction of commercial and office buildings along its major transport projects).
November 30, 2008... Mumbai Metropolitan Region Development Authority (MMRDA) proposes to construct commercial and office buildings along its major transport projects and generate a revenue of Rs12,000 crore. MMRDA will initially offer areas around stations on...

RAILWAYS TO ACQUIRE LAND FOR FREIGHT CORRIDOR (also to set up Delhi-Mumbai Industrial Corridor).
November 30, 2008... The Ministry of Railways, Government of India, has issued a notification to acquire land in 59 villages in Bharuch and Vadodara districts of Gujarat for setting up the dedicated freight corridor on the Delhi-Mumbai route at a cost of Rs22,000...

RAILWAYS TO UNDERTAKE SURVEYS FOR INDO-NEPAL RAIL LINK (to set up broad-gauge rail link between the two countries).
November 30, 2008... The Indian Railways will conduct a final location survey to set up rail connectivity between India and Nepal. The existing rail link connects Raxaul in India to Birganj in Nepal. Surveys would be conducted for a new rail link between Jogbani...

TUTICORIN PORT SHORT-LISTS FIVE COMPANIES (for operating the second container terminal on build, operate and transfer basis).
November 30, 2008... Tuticorin Port Trust (TPT) has short-listed five companies for operating the second container terminal on build, operate and transfer basis. PSA-Sical, a joint venture of PSA International of Singapore and Sical Logistics of Chennai, the...

GTI SETS HIGHEST NATIONAL BERTH PRODUCTIVITY RECORD (handles 2,706 moves in 15:55 hours).
November 30, 2008... Gateway Terminals India (GTI) has set a national record in berth productivity with MV Maersk Damietta by handling 2,706 moves in 15 hours and 55 minutes. The moves included 1,461 discharge moves and 1,245 load moves. MV Maersk Damietta has...

CONSULTANT APPOINTED FOR CHENNAI BRTS CORRIDORS (WSA to submit the report in Feb 2009).
November 30, 2008... Tamil Nadu Urban Infrastructure Financial Services has appointed Wilbur Smith Associates (WSA) to prepare a feasibility report and submit a detailed project report (DPR) for Bus Rapid Transport System (BRTS) in Chennai along the four circular...

SHIMLA ROAD WIDENING PROJECT LAUNCHED (project gets World Bank aid).
November 30, 2008... Government of Himachal Pradesh has launched a road-widening project in Shimla. The road-widening work of Theog-Kotkhai- Hatkoti-Rohru road involves an investment of Rs228 crore. The width of the road will be increased by nine metres...

L&T WINS Rs700 CR REFINERY ORDER (to set up two 44,000 tpa of HGU).
November 30, 2008... Larsen & Toubro (L&T) has secured an order worth Rs700 crore from HPCL-Mittal Energy Ltd (HMEL). HMEL is a joint venture of Hindustan Petroleum Corporation Ltd and Mittal Energy Investments. The order is for setting up of two 44,000 tonnes...

KEC GETS MAJOR ORDER IN AFGHANISTAN (worth Rs135 crore).
November 30, 2008... KEC International Ltd (KEC), a power transmission and Engineering, Procurement and Construction (EPC) company of Mumbai, has secured three orders worth Rs235 crore. The orders include Rs135-crore overseas contract from the Ministry of...

BHEL BAGS Rs1,325 CR ORDER FROM APGENCO (to set up a thermal power generating plant in Warangal).
November 30, 2008... Bharat Heavy Electricals Ltd (BHEL) has secured Rs1,325-crore order from Andhra Pradesh Power Generation Corporation (APGenco). BHEL is to set up a 1x600 megawatt thermal power generating unit at Kakatiya Thermal Power Project Stage-II at...

L&T BAGS Rs937 CRORE EPC ORDERS (from HMWSSB and Delhi Jal Board).
November 30, 2008... Larsen & Toubro (L&T) has secured three orders worth Rs937 crore during Sep-Oct 2008. The company has secured Rs582-crore order from Hyderabad Metro Water Supply and Sewerage Board (HMWSSB) under the first phase of Godavari Drinking Water...

GOVT AWARDS 44 OIL,GAS BLOCKS (ONGC and its partners secure 20 oil & gas exploration blocks).
November 30, 2008... The Cabinet Committee on Economic Affairs (CCEA), Government of India, has awarded 44 oil and gas exploration blocks. The projects attract an investment of $1.5 billion and will reduce the country's dependence on import of oil. Oil and...

IVRCL BAGS LIFT IRRIGATION PROJECT (worth Rs893 crore from Government of Andhra Pradesh).
November 30, 2008... IVRCL Infrastructures and Projects Ltd has secured a lift irrigation project execution work, worth Rs893 crore, from the Government of Andhra Pradesh. The project is part of the Pranahitha-Chevella Lift Irrigation Scheme-Link VII-package...

KLG WINS ELECTRIFICATION CONTRACT (to provide electricity connections to 1.48 lakh BPL households).
November 30, 2008... KLG Systel Ltd (KLG) of Gurgoan has bagged a contract worth Rs132 crore from the Punjab State Electricity Board. The project is sponsored by Rajiv Gandhi Grameen Vidyutikaran Yojana, Government of India. The scope of the order includes...

WELSPUN BAGS NEW ORDERS (announces order book position of Rs9,500 crore).
November 30, 2008... Welspun Gujarat Stahl Rohren has secured orders worth Rs500 crore. The Rs4,000-crore company has received the orders from Indian and overseas companies. The company has announced that it has an order book position of Rs9,500 crore.

KERNAX BAGS $17.5 MILLION ORDER (from Egyptian National Railways).
November 30, 2008... Kernex Microsystems (Kernex) has secured orders worth $17.5 million from Egyptian National Railways. The order involves supply and development of 136 semi-automatic level crossing gates. Kernex is engaged in the manufacture,...

KUBOTA TRACTORS EYES JV (with Sumitomo Corporation).
November 30, 2008... Kubota Tractors of Japan proposes to set up a manufacturing plant for tractors in India in association with Sumitomo Corporation. The proposed joint venture intends to manufacture tractors in the range of 30-40 horse power.

GE TO TRANSFER CE FINANCE UNIT (to a separate joint venture entity).
November 30, 2008... General Electric plans to transfer its construction equipment (CE) finance unit to a separate joint venture (JV) entity. The company is negotiating with Industrial Development Bank of India (IDBI) and Infrastructure Development Finance...

TELECOM INDUSTRY TO CROSS Rs50K CR (production of wireless equipment records 171% growth at Rs28,600 crore in 2007-2008).
November 30, 2008... The telecom equipment manufacturing industry in India is expected to be over Rs50,000 crore by Mar 2009. A study by the Telecom Equipment Manufacturers of India (Tema) states that wireless equipment manufacturing, including cellular mobile...

CERAGON, TATA SIGN LONG-TERM SUPPLY AGREEMENT (to supply FibeAir solutions).
November 30, 2008... Ceragon Networks Ltd (CNL) has signed a long-term agreement with Tata Teleservices Ltd (TTL) for the supply of FibeAir solutions, including FibeAir IP-10 system. CNL is a provider of high- capacity wireless backhaul solutions and TTL is a...

POTENTIAL, SEAMEC MERGES (subject to the approval of the High Court of Karnataka).
November 30, 2008... Potential Service Consultants Private Ltd, Bangalore, intends to merge with Seamec Ltd, a subsidiary of Revathy Equipment Ltd. The merger is subject to the approval of shareholders of both the companies and the High Court of Karnataka. ...

IVRCL INFRASTRUCTURES & PROJECTS LTD (bags an order worth Rs499.23 crore for implementation of the Kaleswaram lift irrigation scheme).
November 30, 2008... IVRCL Infrastructures & Projects Ltd has bagged an order worth Rs499.23 crore for implementation of the Kaleswaram lift irrigation scheme and allied works. The scope of the order involves lifting 4.50 thousand million cubic feet of water from...

IVRCL INFRASTRUCTURES & PROJECTS LTD (bags an order worth Rs418.35 crore for PUNASA Lift Irrigation scheme).
November 30, 2008... IVRCL Infrastructures & Projects Ltd has secured an order worth Rs418.35 crore for execution of PUNASA Lift Irrigation Scheme of Madhya Pradesh. The project is expected to be operational by Dec 2011. The scheme will irrigate around 35,008...

CABINET APPROVES 40 FDI PROPOSALS (involving FDI worth Rs1,498.51 crore).
November 30, 2008... The Ministry of Finance, Government of India, has approved 40 proposals of foreign direct investment (FDI) worth Rs1,498.51 crore. The proposals were recommended by the Foreign Investment Promotion Board (FIPB). Some of the approved...

APOLLO EARMARKS Rs3,000 CR IN FIVE YEARS (to set up 2 new units in Chennai and Eastern Europe).
November 30, 2008... Apollo Tyres has set aside an investment of Rs3,000 crore, to be made by 2013, for setting up greenfield projects in India and abroad and expand its existing units. The company is setting up two new units in Chennai and Eastern Europe. The...

OVL BAGS TWO OIL AND GAS BLOCK IN COLUMBIA (secures 100% interest in CPO-5).
November 30, 2008... ONGC Videsh (OVL), an overseas subsidiary of Oil and Natural Gas Corporation (ONGC), has secured two oil and gas blocks, CPO-5 and SSJN-7 in Columbia. The company has secured 100 percent interest in CPO-5 and 50 percent in SSJN-7.

SUBHIKSHA TRADING EARMARKS Rs1,000 CR INVESTMENT (for expansion and diversification into new verticals).
November 30, 2008... Subiksha Trading Services, based in Chennai, proposes to invest Rs1,000 crore for expansion and diversification into new verticals. Funds will be raised through divesting part of the promoters' stake.

RAMKY TO INVEST Rs500 CR IN HOSPITALS, EDUCATION (to construct 2 hospitals in Hyderabad and a hospital each in Bangalore and Warangal).
November 30, 2008... Ramky Group of Hyderabad plans to invest Rs500 crore over 2009- 2012 to set up hospitals and schools across the country. The company proposes to construct two 200-bed hospitals in Hyderabad, a 100-bed hospital in Bangalore and 50-bed...

UNITED PHOSPHOROUS TO RAISE $75 MN IN LOAN (for expansion and establishment of new projects).
November 30, 2008... United Phosphorous Ltd (UPL) plans to raise a loan of $75 million from the International Financial Corporation (IFC). The funds would be utilised for expansion and setting of up new projects over by 2012. The cost of expansion,...

CABINET APPROVES REVIVAL OF BARAUNI FERTILIZER UNIT (National Fertilizers sets up a SPV for the purpose).
November 30, 2008... The Council of Ministers, Government of India, has approved the proposal to revive the Barauni fertiliser unit of Hindustan Fertiliser Corporation. A special purpose vehicle (SPV) has been set up with the equity participation from National...

THREE PSUS TO FORM JV (to export nuclear power reactors).
November 30, 2008... Three Public Sector units (PSUs) have decided to form a joint venture (JV) to export nuclear power reactors. The proposed JV will export to countries that have small electricity grids with capacity to generate of 220 megawatts power. ...

NCDEX IN PACT FOR 20 WAREHOUSES (across various cities in Maharashtra).
November 30, 2008... National Commodity and Derivatives Exchange Ltd (NCDEX) has signed a memorandum of understanding (MoU) with its subsidiary, National Collateral Management Services and Maharashtra State Warehousing Corporation to set up 20 warehouses in...

KERALA MINERALS AND METALS LTD - INVESTING HEAVILY IN R&D (the only integrated titanium dioxide plant in the world).
November 30, 2008... Kerala Minerals and Metals Ltd (KMML) was established as a limited company in 1972, though it was started by an entrepreneur in 1932 as FX Perira and Sons (Travancore) Pvt Ltd. The company started production of titanium dioxide pigment using...

NDDB PROPOSES Rs17,300 CR PLAN (to increase milk production and strengthen infrastructure).
November 30, 2008... National Dairy Development Board (NDDB) has submitted a proposal costing Rs17,300 crore to increase the production of milk in India from 102 million tonnes per annum (mtpa) to 180 mtpa. NDDB proposes to focus on productivity, strengthen...

IFC TO PART FINANCE PROJECT (for expansion of coal tar and carbon black production).
November 30, 2008... Himadri Chemicals & Industries (HCIL) proposes to expand its coal tar and carbon black production at a cost of $139 million. The company has sought financial assistance from International Finance Corporation (IFC). IFC plans to extend $35...

DOMINO'S TO SET UP 20 OUTLETS BY EARLY 2009 (sets a target to have 250 outlets in 50 cities by Dec 2008).
November 30, 2008... Domino's Pizza proposes to set up 20 outlets by Jan 2009. Around 15-18 new outlets will be located in cities, which have existing outlets and the remaining in new locations such as Cochin and Allahabad. The company has set a target to...

GOVT TO PUMP Rs50K CR (to improve the economy in the country).
November 30, 2008... Government of India has decided to infuse Rs50,000 crore for funding various infrastructure projects. The Government intends to improve the economy through public expenditure by investing in projects taken up on public-private partnership...

HMD CHALKS OUT Rs100 CR PLAN (to invest Rs30-35 crore per annum).
November 30, 2008... Hindustan Syringes & Medical Devices (HMD) proposes to expand its production capacity and increase its presence abroad with an investment of Rs100 crore. The funds will be utilised in a phased manner with a capital expenditure of Rs30-35...

TRENT LAUNCHES FASHION YATRA (on 20 Oct 2008 at Kalyan in Mumbai).
November 30, 2008... Trent Ltd has entered the value-for-money garment and accessory retail segment by launching its store, Fashion Yatra. The store was inaugurated on 20 Oct 2008 at Kalyan in Mumbai. Spread over 17,000 square feet, the store houses menswear,...

TARA ULTIMO TO OPEN 50 OUTLETS IN TWO YEARS (enters into an alliance with Alcon Enterprises to launch its first store in Goa).
November 30, 2008... Tara Ultimo of Mumbai plans to open 50 outlets in India by 2010. The company has entered into an alliance with Alcon Enterprises to launch its first store in Goa. It plans to open outlets at Mumbai, Delhi and Chandigarh besides other tier-II...

FI OPENS IN DELHI (store occupies an area of 600 square feet and offers a range of ethnic outfits based on Indian crafts).
November 30, 2008... Fi, the women's wear brand from Kolkata, has launched an outlet at Karol Bagh in Delhi. The store occupies an area of 600 square feet and offers a range of ethnic outfits based on traditional Indian crafts. It has a network of 20 stores...

ETAM DRAWS FUTURE PLANS (proposes to increase its outlets from 16 to 21 in 2009 and expects a growth of 25 percent).
November 30, 2008... Etam Future Fashion, the lingerie chain, proposes to increase its outlets from 16 to 21 in 2009. In addition, it also plans to increase its shop-in-shops from 24 to 34. The expansion is planned for Mumbai, Delhi, Bangalore, Hyderabad,...

PANTALOON RETAIL POSTS 39 PERCENT INCREASE IN NET SALES (profit from operations before other income and interest also grew by 53 percent to Rs122.97 crore).
November 30, 2008... Pantaloon Retail (India) Ltd has reported an increase of 39 percent in gross turnover at Rs1,511.21 crore in Jul-Sep 2008. Its profit from operations before other income and interest also grew by 53 percent to Rs122.97 crore.

WILLS LIFESTYLE TO OPEN 50 STORES (in 40 Indian cities by 2010).
November 30, 2008... ITC Wills Lifestyle will launch 50 exclusive outlets in 40 Indian cities by 2010. The company will open stores in tier-II and III cities like Raipur, Surat and Siliguri besides opening new stores in cities where it is already present. The...

PRATEEK GROUP SCALES OPERATIONS IN TIER-II (plans to invest Rs350 crore in retail formats).
November 30, 2008... The Prateek Group has opened its discounted retail mall, Coupon, at Faridabad. The mall occupies a space of 35,000 square feet spread over four floors. The group plans to invest Rs350 crore in retail formats with northern tier-II cities...

SPLASH ROLLS INTO INDIA (launches its first outlet in India at Begumpet in Hyderabad).
November 30, 2008... The fashion brand of the Landmark Group, Splash, launched its first outlet in India on 8 Oct 2008 at Begumpet in Hyderabad. The 12,000-square feet store will offer collections like Ms, Nexus, Retro, Zync and Scarlet besides international...

HOUSE OF ROSE LAUNCHES THIRD LUXURY DESTINATION IN DELHI (the salon offers jewellery, watches and lifestyle accessories).
November 30, 2008... The Rose Group will open its third luxury salon, The Rose Salon, at DLF Emporio in Delhi. It offers jewellery, watches and lifestyle accessories. It houses luxury watches like Versace, Antonio Bernini, Cerruti 1881, Goldpfeil, Franc...

DELL OPENS FIRST EXCLUSIVE STORES IN INDIA (at New Delhi and Coimbatore on 30 Oct 2008).
November 30, 2008... Dell India has opened its first exclusive stores at New Delhi and Coimbatore on 30 Oct 2008. The stores will house the company's consumer products such as Inspiron, Studio and XPS. The customer can physically examine the product at these...

VISHAL RETAIL Q2 PROFIT AT Rs41 MILLION (total income stood at Rs3,607.55 million while total expenditure stood at Rs3,276.51 million).
November 30, 2008... Vishal Retail has recorded profit of Rs40.76 million during Jul- Sep 2008. Its total income stood at Rs3,607.55 million while total expenditure stood at Rs3,276.51 million. The company has a network of 154 stores in 97 cities occupying...

ACER LAUNCHES EXCLUSIVE BRAND STORE IN PANAJI (will house Acer products such as Acer desktops, notebooks and display products).
November 30, 2008... Acer, in an alliance with Ways Infotech, has launched its first exclusive brand outlet (EBO), Acer Mall at Panaji in Goa. Ways Infotech will house Acer products such as Acer desktops, notebooks and display products like personal...

SPAR LAUNCHES FIRST SUPERMARKET IN ANDHRA PRADESH (at Begumpet in Hyderabad on 17 Oct 2008).
November 30, 2008... Spar launched its first supermarket in Andhra Pradesh at Begumpet in Hyderabad on 17 Oct 2008. The supermarket covers a space of 20,000 square feet on one floor. It offers a wide range of products like grocery, fruits & vegetables, bakery,...

TRIVENI KHUSHALI BAZAAR ON THE BLOCK (group may either sell completely or offer majority stake to prospective buyers).
November 30, 2008... Triveni Retail Ventures plans to sell its rural chain Triveni Khushali Bazaar (TKB). TKB is a subsidiary of Triveni engineering and Industries Ltd (TEIL). TEIL may either sell out completely or offer majority stake to prospective buyers....

BHARTI RETAIL TO TOUCH Rs1,000 CRORE BY MARCH 2009 (company is confident that the economic slump will not affect its performance adversely).
November 30, 2008... Bharti Enterprises expects to record a turnover of Rs1,000 crore from its retail operation in 2008-2009. The company is confident that the economic slump will not affect its performance adversely. It also intends to implement its...

RED GINGER OPENS IN CHANDIGARH (plans to launch four more outlets at Panchkula by Mar 2009).
November 30, 2008... Red Ginger Hospitality India Pvt Ltd plans to open an outlet at DLF City Center Mall in Chandigarh and three outlets in Vadodara. It also plans to launch four more outlets at Panchkula by Mar 2009 and have a presence in 25 cities by 2012. ...

CENTRES TO PROVIDE DATA TO FARMERS (plans to set up information centres in each of the four divisions).
November 30, 2008... The Department of Agricultural Marketing plans to set up information centres in each of the four divisions. The centres will provide information and services to farmers about horticultural crops, prices, inputs and exports. A...

GOVERNMENT EXPECTS BUMPER PADDY OUTPUT DESPITE FLOODS (expects the rice output to rise 15 percent from 96.35 MT in 2007-2008 to 110 MT in 2008-2009).
November 30, 2008... The Government of India expects the rice output to rise 15 percent from 96.35 million tonnes (MTs) in 2007-2008 to 110 MTs in 2008-2009. The total paddy output is expected to rise from 118 MTs to 140 MTs. The area under paddy cultivation...

ICAR INSTITUTE DEVELOPS FIRST EVER MUSTARD HYBRID (that yields 10 percent more than other varieties and also contains one to two percent more oil).
November 30, 2008... The National Research Centre on Rapeseed-Mustard (Rajasthan), a division of the Indian Council of Agricultural Research (ICAR), has developed NRCHB 506 or Sankar Sarson, India's first hybrid mustard. The hybrid yields 10 percent more than...

STEVIA SUGAR IN LIQUID FORM? (new technique will reduce processing cost by about 90 percent).
November 30, 2008... The Department of Food Technology, Lakshmi Narayan Institute of Technology, Nagpur, has developed a technique of preparing a water-based extract of stevia, a herb that yields natural sweetener stevioside. The new technique will reduce...

EXPORTS OF SESAME SEED LIKELY TO FALL (from 3,04,000 tonnes in 2007-2008 to 2,40,000-2,50,000 tonnes in 2008-2009).
November 30, 2008... The Indian Oilseeds & Produce Exporters' Association reports that export of sesame seed is expected to decline from 3,04,000 tonnes in 2007-2008 to 2,40,000-2,50,000 tonnes in 2008-2009. The decline is attributed to the fall in the area...

FEWER TAKERS FOR WEATHER INSURANCE FOR COFFEE GROWERS (coffee growers opting for weather insurance has declined from 12,000 in 2007-2008 to 7,500 in 2008-2009).
November 30, 2008... The Coffee Board of India has reported that the number of coffee growers opting for weather insurance has declined from 12,000 in 2007-2008 to 7,500 in 2008-2009. In 2007-2008, owing to excess rainfall in the growing areas, around 8,000...

ORGANISED RETAIL: GROWING AT 5 PERCENT! (reports that the retail market in India is likely to grow to $450 billion by 2015).
November 30, 2008... McKinsey & Company has forecast that the retail market in India is likely to grow to $450 billion by 2015. Organised retail, which now accounts for 5 percent of the total market, will account for 14-18 percent of the estimated Rs18 lakh crore...