India Business Insight articles from October 2011, page 26

India Business Insight archives from October 2011

PVR SECOND QUARTER PROFIT AFTER TAX UP 47% (while consolidated revenue grows by three percent to Rs138.64 crore).
October 22, 2011... Film exhibitor PVR Limited has announced that its consolidated net profit grew by 47 percent at Rs14.30 crore during Jul-Sep 2011 compared to Rs9.73 crore in Jul-Sep 2010. The company's consolidated revenue grew by three percent to Rs138.64...

KIRLOSKAR OIL Q2 NET UP 28.62% AT Rs56.80 CRORE (though total income declines by 10 percent to Rs578.24 crore).
October 22, 2011... Kirloskar Oil Engines has announced that its net profit grew by 28.62 percent at Rs56.80 crore during Jul-Sep 2011 compared to Rs44.16 crore in Jul-Sep 2010. The company's total income declined by 10 percent to Rs578.24 crore from Rs642.61...

ZENSAR TECH POSTS NET PROFIT OF Rs40.05 CRORE (during Jul-Sep 2011 compared to Rs27.50 crore in Jul-Sep 2010).(Financial report)
October 22, 2011... Zensar Technologies has announced that its net profit grew by 45.63 percent at Rs40.05 crore during Jul-Sep 2011 compared to Rs27.50 crore in Jul-Sep 2010. The company's revenue rose by 55 percent to Rs408.97 crore.

ALFA LAVAL NET DROPS 6.13% TO Rs34.7 CRORE (during Jul-Sep 2011 compared to Rs37 crore in Jul-Sep 2010).
October 22, 2011... Alfa Laval India has announced that its net profit fell by 6.13 percent at Rs34.7 crore during Jul-Sep 2011 compared to Rs37 crore in Jul-Sep 2010, while profit before tax declined by 17.4 percent to Rs47.7 crore from Rs57.7 crore. The company's...

HDFC TIES UP WITH DINERS CLUB (to enable customers benefit from their international network).
October 22, 2011... HDFC Bank has tied up with Diners Club International (DCI) to issue DCI credit cards in India. According to DCI, customers will benefit from their international network and also have access to over 8,00,000 cash access locations and ATMs.

AKSHYA INFRA MAKES OPEN OFFER FOR MARG (to acquire up to 76,51,572 fully paid-up equity shares of the company).
October 22, 2011... Akshya Infrastructure has made an open offer to equity shareholders of Marg Limited to acquire up to 76,51,572 fully paid-up equity shares of the company at Rs91 per share. The shares to be acquired constitute 20 percent of the fully diluted...

IDEA CELLULAR ALLOTS 3,02,104 SHARES TO STAFF (by the compensation committee of the employee stock option scheme).
October 22, 2011... Idea Cellular has allotted 3,02,104 equity shares of Rs10 each to the option grantees under the employee stock option scheme (ESOS), pursuant to the exercise of stock options granted under the company's ESOS, 2006. The shares have been allotted...

HDFC ALLOTS SHARES UNDER STOCK OPTIONS PLAN (to certain employees and directors pursuant to exercise of stock options).
October 22, 2011... Housing Development Finance Corporation Ltd (HDFC) has allotted 4,49,720 equity shares of Rs2 each to certain employees and directors pursuant to exercise of stock options. After the allotment, the paid-up equity capital of the company will...

OPIUM FARMERS TO BE OFFERED 43% MORE AREA (if they have achieved average yield of 60 kilogram per hectare).
October 22, 2011... The Ministry of Finance, Government of India, has decided to offer 43 percent more area for cultivating opium to eligible farmers who have improved yield significantly. According to the ministry's notification, farmers who have achieved average...

KERALA SET TO SEEK FINMIN, RBI HELP ON DHANLAXMI (which has been charged with alleged financial irregularities).
October 22, 2011... The Government of Kerala may approach the Reserve Bank of India (RBI) and the Ministry of Finance, Government of India, regarding operations of Dhanlaxmi Bank, which has been charged with alleged financial irregularities by an employees' union....

HFCs UPSET OVER REMOVAL OF PREPAYMENT CHARGES (for customers who have taken a loan on floating rates).
October 22, 2011... Housing finance companies (HFCs) are upset with the decision of the National Housing Board (NHG) to remove pre-penalty charges on foreclosure of loans. NHB had stated that HFCs should not charge foreclosure fees for customers who have taken a...

DELAY IN CCI AS REGULATOR FOR PHARMA DEALS IRKS MNCs (which believe that it may be well over 20 months before CCI takes over as the regulator).
October 22, 2011... Pharmaceutical multinational companies (MNCs) are unhappy at the delay in appointing the Competition Commission of India (CCI) to act as a regulator for foreign direct investment (FDI) proposals for the pharmaceutical industry. Currently, the...

FOUR SOFT SIGNS CONTRACT WITH UNIFO SOLUTIONS (to implement its global customs compliance solution called 4S eCustoms).
October 22, 2011... Four Soft Limited (FSL) has signed an agreement with Unifo Solutions of Chennai to implement its global customs compliance solution called 4S eCustoms. FSL is a provider of software solutions for the logistics and transportation industry. The...

PILZ GmbH ENTERS INDIA WITH FACILITY AT PUNE (for providing safety systems and industrial automation services).
October 22, 2011... Pilz GmbH has opened a fully owned subsidiary at Pune in Maharashtra, which is its 26th subsidiary across the world. Pilz, with a revenue of 168 million euros, is a provider of safety systems and industrial automation services. The company...

STERLING HOLIDAYS IN EXPANSION MODE (opens 'Villagio Inn' at Betalbatim in South Goa and 'Emerald Bay' at Karwar).
October 22, 2011... Leisure hospitality company Sterling Holidays of Chennai has opened three new resorts - 'Woods n Spice' at Thekkady in Kerala, 'Villagio Inn' at Betalbatim in South Goa and 'Emerald Bay' at Karwar in Karnataka - as part of its aggressive...

RUPEE SINKS BELOW 50/DOLLAR (due to demand from domestic importers).
October 22, 2011... Indian rupee declined below the 50 mark against the US dollar on 21 Oct 2011 due to demand from domestic importers. The rupee opened at 50.05 to the dollar and closed at 50.03 (49.80/81 on 20 Oct 2011). The forward premium for 12 months...

LAND ACQUISITION IN 3 NOIDA VILLAGES CANCELLED (the Allahabad High Court has ordered higher compensation for farmers in 60 villages).
October 22, 2011... The Allahabad High Court has cancelled the acquisition of land by the Government of Uttar Pradesh in three villages. Cancellation of land acquisition in the three villages is not likely to make much impact on the construction activities in...

GOVERNMENT SHELVES PLAN TO ALLOW FDI IN MULTI-BRAND RETAIL (the industry is looking for foreign institutional investment).
October 22, 2011... The Government of India has decided to drop its plan to permit foreign direct investment (FDI) in multi-brand retail. The Government has allowed FDI of 51 percent in single-brand retail and 100 percent in wholesale cash and carry business. ...

PROTEST ENDS, MARUTI TO RESTART MANESAR OPERATIONS TODAY (the management has agreed to reinstate 64 permanent workers).
October 22, 2011... Workers at the Manesar plant of Maruti Suzuki India Ltd have called off their 14-day old strike on 21 Oct 2011. The company intends to restart the operations on 22 Oct 2011. The management has agreed to reinstate 64 permanent workers and nearly...

APEX COURT ALLOWS F1 (the Jaypee Group will deposit 25 percent of the sales proceeds in a separate account).
October 22, 2011... The Supreme Court has allowed Formula 1 Grand Prix of India (F1) to hold the event on 30 Oct 2011 at Greater Noida. The court has directed Jaypee Sports International Ltd to deposit 25 percent of the sales proceeds in a separate account. The...

COURT REFUSES TO PASS ORDER ON ROW OVER RIL'S WORK IN KG BASIN (the matter is before the Parliamentary Accounts Committee).
October 22, 2011... The Delhi High Court has refused to pass order on a dispute over the work of Reliance Industries Ltd (RIL) in Krishna-Godavari (KG) basin. A petition had claimed that the Government of India had given unwarranted extension for the exploration...

NOVARTIS-ALCON OPERATIONS MIRROR GLOBAL ALIGNMENT; VISION-CARE TO DRIVE GROWTH (Novartis has installed its LenSx Laser at Wavikar Eye Institute).
October 22, 2011... The merger of Alcon India with Novartis is expected to enable growth of vision-care segment in India. Novartis had globally merged Alcon in Apr 2011. The company has installed its LenSx Laser at Wavikar Eye Institute in Thane. Alcon operates as...

L&T NET RISES 4% AS OVERALL SLOWDOWN TAKE ITS TOLL (the company has announced a net profit of Rs798 crore for Jul-Sep 2011).(Financial report)
October 22, 2011... Larsen & Toubro Ltd (L&T) has announced a growth of four percent in net profit at Rs798 crore for Jul-Sep 2011 (Rs765 crore for Jul-Sep 2010). Its net sales have gone up to Rs11,245 crore (Rs9,422 crore). The company has received...

ORDER FLOWS UNDER STRESS, BUT EXECUTION ON TRACK (L&T has an order book of Rs1,42,000 crore).
October 22, 2011... Larsen & Toubro Ltd (L&T) has reported a decline in the order flows in Jul-Sep 2011. The company is executing the orders as per schedule. L&T has an order book of Rs1,42,000 crore. Its profit margin has declined by 20 basis points...

INDIAN OIL RAISES BORROWING LIMIT BY Rs30,000 CRORE (the company is likely to lose Rs64,010 crore in 2011-2012).
October 22, 2011... Indian Oil Corporation Ltd (IOC) has increased its borrowing limit by Rs30,000 crore to 1,10,000 crore. The company has obtained the approval of the shareholders through a postal ballot. IOC had doubled its borrowing limit in 2008. The...

MRPL REPORTS STEEP FALL IN Q2 NET ON RUPEE FACTOR (the company has announced a net profit of Rs24 crore for Jul- Sep 2011).(Financial report)
October 22, 2011... Mangalore Refinery and Petrochemicals Ltd (MRPL) has announced a net profit of Rs24 crore for Jul-Sep 2011 (Rs282 crore for Jul- Sep 2010). Its turnover has gone up by 29 percent to Rs12,404 crore. The company has incurred foreign exchange...

ASIAN PAINTS Q2 NET UP 9% AT Rs213 CRORE (the board has recommended an interim dividend of 95 percent).
October 22, 2011... Asian Paints Ltd has announced a growth of nine percent in net profit at Rs213 crore for Jul-Sep 2011 (Rs196 crore for Jul-Sep 2010). Its net sales have gone up to Rs1,844 crore (Rs1,470 crore). The board has recommended an interim...

BAJAJ AUTO TO SHOWCASE ALL-NEW PULSAR IN DECEMBER (the company has deferred its plans to set up the fourth plant).
October 22, 2011... Bajaj Auto Ltd (BAL) is planning to launch an all-new Pulsar in Dec 2011. The company had launched the Pulsar in Nov 2001. BAL has manufacturing facilities in Chakan, Waluj and Pantnagar. The company has deferred its plans to set up the...

HCC INCURS Rs40.5 CRORE LOSS IN Q2 (the company has announced interest cost of Rs107 crore).(Financial report)
October 22, 2011... Hindustan Construction Company Ltd (HCC) has announced a net loss of Rs40.5 crore for Jul-Sep 2011 (net profit of Rs12 crore for Jul-Sep 2010). Its net sales have declined to Rs838 crore (Rs899 crore). The company has reported interest cost...

JSW STEEL Q2 PROFIT DOWN 71% ON LOWER OUTPUT (the company has announced a net profit of Rs127 crore for Jul-Sep 2011).(Financial report)
October 22, 2011... JSW Steel Ltd has announced a decline of 71 percent in net profit at Rs127 crore for Jul-Sep 2011 (Rs445 crore for Jul-Sep 2010). Its net sales have gone up to Rs7,625 crore (Rs5,713 crore). The company has incurred foreign exchange losses of...

JSW FINDS ALTERNATIVE IRON ORE SOURCES; UPS VIJAYANAGAR OUTPUT (the company has secured 56 percent of the material sold by NMDC for Oct-Dec 2011).
October 22, 2011... JSW Steel Ltd has increased the output at Vijayanagar steel plant to nearly 60 percent of the capacity. The company had reduced the production at the plant to 30 percent in Sep 2011 due to lower supply of iron ore. The Supreme Court had banned...

COAL DESPATCHES TO POWER PLANTS HIGHER THAN TARGETED LEVELS (Coal India has despatched 140 rakes a day during 10-20 Oct 2011).
October 22, 2011... Coal India Ltd has despatched 140 rakes of coal a day to power plants during 10-20 Oct 2011 against a target of 133 rakes a day. Total daily supply of coal to the power sector is nine lakh tonnes a day. Nearly 50 percent of the thermal power...

HIGH FOOD INFLATION DUE TO SUPPLY CONSTRAINTS: PRANAB (food inflation has gone up to 10.6 percent for the week ended 8 Oct 2011).
October 22, 2011... The Finance Minister, Pranab Mukherjee, is of the view that high food inflation in India is due to supply constraints. Food inflation in the country has gone up to 10.6 percent for the week ended 8 Oct 2011. The Reserve Bank of India is...

NEPAL PM PUSHES FOR MORE INDIAN INVESTMENTS (India and Nepal are expected to sign two agreements).
October 22, 2011... The Prime Minister (PM) of Nepal has announced a number of incentives to attract investments from India. Nepal is setting up special economic zones to attract Indian companies. Nepal is also setting up a Social Security Fund for better...

FOREX RESERVES UP $5.269 BILLION TO $317.5 BILLION (foreign currency reserves of India have gone up by $5.191 billion in the week ended 14 Oct 2011).
October 22, 2011... Foreign exchange (forex) reserves of India have increased by $5.269 billion to $317.5 billion in the week ended 14 Oct 2011. Foreign currency reserves have gone up by $5.191 billion to $281.653 billion. Gold reserves were steady at $28.667...

BONDS REMAIN WEAK (due to sustained selling by banks and companies).
October 22, 2011... Bond prices in India declined on 21 Oct 2011 due to sustained selling by banks and companies. The 7.8 percent 2021 paper closed at Rs93.54 (Rs93.74 on 20 Oct 2011). The 7.83 percent 2018 paper closed at Rs95.28 (Rs95.36). The 8.13 percent 2022...

CALL RATE MOVES UP (to close at 8.75 percent on 21 Oct 2011).
October 22, 2011... The inter-bank call rate closed at 8.75 percent on 21 Oct 2011 (8.3 percent on 20 Oct 2011). The Reserve Bank of India accepted 36 bids for Rs80,540 crore in the repo auction. The bank accepted seven bids for Rs770 crore in the reverse repo...

IDBI BANK SCOUTING FOR PARTNERS TO FLOAT INFRA DEBT FUND (the RBI has allowed banks and NBFCs to sponsor the IDF).
October 22, 2011... IDBI Bank is looking for partners to set up an infrastructure debt fund (IDF). The Reserve Bank of India (RBI) has allowed banks and non-banking finance companies (NBFCs) to sponsor the IDF. The Government of India intends to invest nearly...

FINANCE MINISTRY CONSIDERING DISTRICT-WISE ROLLOUT OF ATMs (to reduce cost and avoid duplication).
October 22, 2011... The Finance Ministry is planning to set up district-wise automated teller machines (ATMs). The Ministry intends to reduce cost and avoid duplication of effort by banks. Many banks are planning to share ATMs to bring down the cost. Some banks...

KHAZANAH SHARES IN APOLLO HOSPITALS (transferred to another of its arm, Integrated Healthcare Holdings).
October 22, 2011... Khazanah has transferred 40,93,860 equity shares of Apollo Hospitals Enterprises Limited of Chennai held by its arm, Bisikan Bayu Investments (Mauritius) Limited, to another of its arm, Integrated (Mauritius) Healthcare Holdings. Khazanah is...

RELIANCE GENERAL APPOINTS NEW CEO (to succeed Mr. Vijay Pawar, who will continue to be the non- executive director).
October 22, 2011... Reliance General Insurance has appointed Mr. Rakesh Jain as its new chief operating officer and executive director. According to the company, Mr. Jain will succeed Mr. Vijay Pawar, who will continue to be the non-executive director on the board...

NIIT LTD's NET UP MARGINALLY AT Rs30 CRORE (during Jul-Sep 2011 compared to Rs28.5 crore in Jul-Sep 2010).
October 22, 2011... NIIT Limited has announced that its net profit grew by six percent at Rs30 crore during Jul-Sep 2011 compared to Rs28.5 crore in Jul-Sep 2010. The company's net revenue rose to Rs383.8 crore from Rs345.8 crore.

INDIAN HOTELS SCOUTS FOR OVERSEAS BUYS (in order to tap the growing market of Indians travelling abroad).
October 22, 2011... Indian Hotels Company Limited (IHCL) of Mumbai is planning to acquire hotels and individual properties abroad to gain scale and reach in order to tap the growing market of Indians travelling abroad. IHCL owns the Taj Group of Hotels in India...

PILANI INVESTMENT TO MAKE NSE DEBUT NEXT WEEK (after listing on the Madhya Pradesh Stock Exchange and the Delhi Stock Exchange).
October 22, 2011... Pilani Investment and Industries (Pilani) is set to make its debut on the National Stock Exchange (NSSE) in the last week of Oct 2011. Pilani is the investment arm of the BK Birla Group and holds stakes in companies belonging to the BK Birla and...

DUNLOP TO RESUME WORK IN PHASES (as part of its last attempt to revive the plant).
October 22, 2011... Dunlop India Limited (DIL) is planning to partly lift the suspension of work at its plant at Sahaganj in Hooghly district of West Bengal as part of its last attempt to revive the plant. The plant has been under suspension of work since 8 Oct...

GVK SEEKS TO BECOME MAJORITY STAKE HOLDER IN BANGALORE AIRPORT (by increasing its stake to 51 percent from the present 43 percent).
October 22, 2011... GVK Power and Infrastructure Limited (GPIL) is planning to increase its stake in Bangalore International Airport Limited (BIAL) to 51 percent from the present 43 percent. GPIL intends to execute the transaction through its subsidiary, Bangalore...

LAHORE-AMRTISAR POWER LINE TO LIGHT UP AGAIN (to enable selling or buying of power from each other's countries).
October 22, 2011... The Governments of India and Pakistan are planning to revive the power transmission line between Amritsar in Punjab and Lahore in Pakistan nearly 13 years after first proposing the idea. The proposed transmission line, if revived, will enable...

TOUGH BUSINESS: WORLD BANK RANKS INDIA 132ND (behind Pakistan, Bangladesh, Sri Lanka, Maldives and even Nepal).
October 22, 2011... The World Bank has ranked India 132 out of 183 countries in terms of ease of doing business - behind Pakistan, Bangladesh, Sri Lanka, Maldives and even Nepal. The report also ranks countries in terms of paying taxes, dealing with construction...

BLUE HILL TO INVEST Rs250 CRORE ON LUXURY BUS FLEET (for expanding its fleet of inter-state ultra luxury coaches).
October 22, 2011... The Blue Hill Group of Bangalore is planning to invest Rs250 crore over the next three years for acquiring 100 luxury buses for expanding its fleet of inter-state ultra luxury coaches. The group is promoted by the directors of Nilgiris, a...

SURYACHAKRA TO SET UP JV WITH US FIRMS (to set up renewable energy power projects encompassing wind, biomass and solar power).
October 22, 2011... Suryachakra Global Ventures Limited (SGVL) has signed a memorandum of understanding with American BioSources Inc (ABS) and Environmental Energy Finance Corporation Inc (EEFC) for setting up a joint venture (JV). The proposed JV will set up...

JV FOR MRO TO BE LAUNCHED SOON (at the special economic zone at the Rajiv Gandhi International Airport in Hyderabad).
October 22, 2011... MAS-GMR Aerospace Engineering Company (MGAEC) is set to shortly open a third-party airframe maintenance, repair and overhaul (MRO) facility at the special economic zone at the Rajiv Gandhi International Airport in Hyderabad. The facility has...

SC NOTICE TO ANDHRA OVER SPEAKASIA (which is alleged to have indulged in economic offences and fraud).
October 22, 2011... The Supreme Court (SC) has issued a notice to the Government of Andhra Pradesh following an appeal by Speakasia Online Limited (SOL), against which the state police have filed a first information report. SOL is alleged to have indulged in...

BAJAJ AUTO SEES EXPORTS OVERTAKING LOCAL SALES (overseas market accounts for 36% of Bajaj Auto's total vehicle sales and the company expects its exports to increase further).
October 22, 2011... Bajaj Auto is increasing its focus on exports to outgrow domestic sales. Overseas market currently accounts for 36 percent of the company's total vehicle sales, including two-wheelers and three-wheelers. The company presently exports to 50...

VVF LOOKS BEYOND SOAPS (to launch a range of men's grooming products).
October 22, 2011... VVF Limited of Mumbai seeks to build its personal products portfolio by going beyond soap bars. It will focus on hair care and men's grooming products. The company recently launched shampoos under Jo and Doy brand and mass-market hair colour...

MRF LAUNCHES HIGH-PERFORMANCE TUBELESS RADIAL TYRES (MRF launches Z.L.O radial tyres made of advanced polymer compound with stable ring construction).
October 22, 2011... MRF launched a new series of high performance, tubeless radial tyres 'MRF Z.L.O.' which can be fitted on 35 models of domestic and imported cars. These tyres are made of advanced polymer compound with stable ring construction to enhance...

SUPREME INDUSTRIES RECORDS IMPROVED PROFIT (at Rs27 crore for Jul-Sep 2011 compared to Rs25.63 crore for Jul-Sep 2010).
October 22, 2011... Supreme Industries' net profit for Jul-Sep 2011 improved to Rs27 crore from Rs25.63 crore for Jul-Sep 2010. Total income also increased to Rs480.42 crore from Rs437.76 crore.

SAAB INDIA OPENS R&D CENTRE (at Hyderabad to undertake research and development work in aerospace, defence and urban innovation including civil security).
October 22, 2011... Saab India Technologies Private Limited opened Saab India Technology Centre (SITC) at Hyderabad in association with Mahindra Satyam. The research and development centre aims at supporting the internal operational excellence and optimisation...

AGC NETWORKS NET DOUBLES (at Rs19 crore for Jul-Sep 2011 as against Rs8.5 crore for Jul-Sep 2010).
October 22, 2011... AGC Networks of Essar Group doubled its net profit to Rs19.05 crore for Jul-Sep 2011 from Rs8.5 crore for Jul- Sep 2010. Its turnover stood at Rs257.21 crore with a growth of 98 percent over Rs129.99 crore.

NTPC's JHAJJAR POWER PLANT (synchronises the second 500-mega watt unit of Indira Gandhi Super Thermal Power Project at Jhajjar in Haryana).
October 22, 2011... NTPC synchronised the second 500-mega watt (MW) unit of Indira Gandhi Super Thermal Power Project (IGSTPP) at Jhajjar in Haryana on 21 Oct 2011. The first 500-MW unit is already operational. IGSTPP is a project of Aravall Power Company...

SNAPSHOT OF PRINT ADVERTISING DURING JAN-SEP 2011 - PART 1: ADEX ANALYSIS (print advertising grew 17%).
October 22, 2011... Print advertising grew 17 percent during Jan-Sep 2011 in comparison with Jan-Sep 2010. Service, Education, and Banking/Finance/Investment were the top three sectors that contributed to 36 percent overall print advertising during Jan- Sep...

INDIA-NEPAL TRADE INCREASES BY 36 PERCENT (from $1,985 million in 2009-2010 to $2,700 million in 2010- 2011).
October 22, 2011... The bilateral trade between India and Nepal has increased by 36 percent from $1,985 million in 2009-2010 to $2,700 million in 2010-2011. Exports from Nepal to India also grew 5.3 percent from $452 million in 2009-2010 to $476 million in 2010-2011.

SPAN BAGS SBI DEBIT CARD CAMPAIGN; APPROX SPENDS AT RS25 CRORE (SBI had called for a pitch for this campaign amongst its empanelled agencies).
October 21, 2011... Span Communications has bagged the contract for the SBI Debit Card campaign. SBI had called for a pitch for this campaign amongst its empanelled agencies. According to industry sources, the campaign budget is estimated at Rs25 crore.

PUBLICIS AMBIENCE BANGALORE POCKETS MANTRI SQUARE MALL ACCOUNT (size of the account is estimated at Rs3 crore).
October 21, 2011... Publicis Ambience Bangalore has bagged the creative duties of Mantri Square Mall in a multi-agency pitch that involved 7-8 agencies. The pitch process had started in mid-Jun 2011. The size of the account is estimated at Rs3 crore. Ogilvy &...

PEPSICO TO GIVE MUMBAIKARS A TASTE OF DUKE'S AGAIN (Duke's flavoured beverages will be back in the Mumbai market with four flavours).
October 21, 2011... PepsiCo intends to bring back Duke's range of beverages in Mumbai. Duke's, one of Mumbai's favourite beverage companies, had a strong presence in the market with its popular brand Mangola. PepsiCo is now getting Duke's flavoured beverages back...

DB CORP Q2 NET RISES TO Rs403 MILLION; REVENUES UP 18% YOY (consolidated advertising revenues grew 16% from Rs2,359 million to Rs2,735 million).
October 21, 2011... DB Corp Ltd (DBCL) has reported a consolidated net profit of Rs403 million for Jul-Sep 2011. The group's total consolidated revenues grew 18 percent from Rs3,010 million during Jul-Sep 2010 to Rs3,539 million during Jul-Sep 2011. Consolidated...

APEEJAY INFRALOGISTICS INAUGURATES PHASE-I HALDIA LOGISTICS PARK (Total Cost of Phase-I Was Rs95 Crore)
October 21, 2011... Apeejay Infralogistics Private Limited (AILPL) has inaugurated phase-I of the Haldia Logistics Park. The total cost of phase-I of the project was Rs95 crore. The first phase of the Haldia Park is spread over a working area of 45 acres with 24...

FIRST SOLAR TO SUPPLY SOLAR MODULES FOR RAJASTHAN PLANT (the Two Plants Will Produce an Average of More Than 85,000 Megawatt-Hours of Clean Electricity per Year)
October 21, 2011... First Solar Inc, Kiran Energy Solar Power Pvt Ltd and Mahindra Solar One Pvt Ltd have inked an an agreement for the supply of First Solar's thin-film solar modules for two solar photovoltaic (PV) power plants totalling 50 megawatts (MW) DC to be...

PRESTIGE INAUGURATES TWO PROJECTS IN BANGALORE (launches 'Prestige South Ridge' with 264 high-rise apartments and 24 Tech Hotel within 'Prestige Tech Park').
October 21, 2011... The Prestige Group launched 'Prestige South Ridge' at Banashankari and the 24 Tech Hotel within the 'Prestige Tech Park' on the Sarjapur-Marthahalli Outer Ring Road in Bangalore. 'Prestige South Ridge' that spreads across 9 acres comprises 5...

SBBJ EXPANSION PLAN (to open 89 branches and 100 ATMs by the end of 2011- 2012).
October 21, 2011... State Bank of Bikaner and Jaipur will add 89 branches and 100 ATMs by the end of 2011-2012 in a bid to expand its presence beyond Rajasthan. The bank now has 920 branches across India with 750 of them in Rajasthan. The bank has also launched an...

BHARTI PACT (to form a joint venture with Softbank Corp of Japan to focus on mobile Internet services).
October 21, 2011... Bharti Enterprises entered into a joint venture (JV) with Softbank Corp of Japan to focus on mobile Internet services. The two will have equal stakes in the JV, Bharti Softbank Holdings Pte Limited, which will primarily invest in social...

TATA TELE ENTERS CDMA SPACE (all Tata Indicom customers to be brought under a single brand, Tata DOCOMO).
October 21, 2011... Tata Tele Services Limited (TTL) forayed into the CDMA space whereby all Tata Indicom customers will be migrated to Tata DOCOMO beginning 21 Oct 2011. Under the new strategy, TTL consolidated its spectrum, retail touch points, digital...

DOT HANGS UP ON 11-DIGIT PLAN, TO FREE UP 650 MILLION MOBILE NUMBERS (accepts the short-term solution from TRAI to create additional capacity in the '7' and '8' series).
October 21, 2011... The Department of Telecom (DoT) in the Government of India has shelved its proposal to move to 11-digit mobile numbers. It has accepted the short-term solution from the Telecom Regulatory Authority of India (TRAI) to create additional...

RELIANCE MEDIA TO MANAGE ANNAPURNA STUDIOS (the alliance will aim to combine the expertise of Reliance and Annapurna in offering the cutting edge infrastructure, skill sets and operating strengths).
October 21, 2011... Reliance MediaWorks owns and operates India's largest Hollywood benchmarked studios in Mumbai's Film City. It has agreed to manage and operate Annapurna Studios, the film and television studio and production house of Telugu film idol Akkineni...

GOVERNMENT TO RUSH TEAMS TO CIL MINES FOR EVACUATION OF COAL (to rush teams to CIL collieries for faster evacuation of coal to overcome the power crisis).
October 21, 2011... Severe coal shortages are disrupting power supply in different parts of India. This has prompted the Government of India to rush teams to Coal India Ltd (CIL) collieries for faster evacuation of coal to overcome the crisis. The teams will submit...

FARM MINISTRY PROPOSES HIKE OF Rs115/QUINTAL IN WHEAT MSP (the intention behind the move is to cover rising farm input cost and encourage farmers to increase acreage).
October 21, 2011... The Ministry of Agriculture, Government of India, has proposed a hike of Rs115 per quintal in the minimum support price (MSP) of wheat to Rs1,285 per quintal. The intention behind the move is to cover rising farm input cost and encourage farmers...

AERA TO DECIDE ON AIRPORT TARIFF HIKE BY JANUARY 31 (this directive has come from the Airports Economic Regulatory Authority Appellate Tribunal).
October 21, 2011... The Airports Economic Regulatory Authority (AERA) has been directed to take a decision on private airports operators' demand for a tariff hike by 31 Jan 2012. This directive has come from the Airports Economic Regulatory Authority Appellate...

SBI SAYS IT WILL NEED Rs40K-CRORE CORE CAPITAL (out of this, it will require Rs7,800 crore in 2011-2012 to improve its tier-I capital ratio to 8% by Mar 2012).
October 21, 2011... State Bank of India (SBI) will require to raise Rs40,000 crore of core capital in the next five years. Out of this, it will require Rs7,800 crore in 2011-2012 to improve its tier-I capital ratio to 8 percent by Mar 2012, keeping in mind a...

FOREIGN INFLOWS TO RISE AS INSTITUTIONS FLOCK TO INFRASTRUCTURE BONDS (as yields on infrastructure bonds are expected to stay high).
October 21, 2011... Foreign investments are expected to increase with foreign institutional investors (FIIs) stocking up on allocations to buy infrastructure bonds. The Government of India is planning to double the limit on overseas investment in government...

CABLE TV SET-TOP BOXES FROM CHINA TO COME UNDER SECURITY LENS (of the Government of India).
October 21, 2011... Security agencies of the Government of India have proposed guidelines for importing digital set-top boxes (STBs) from China. The proposed guidelines could be similar to those in place for importing telecommunication equipments. The security...

GoM TAKES FINAL CALL ON DREAMLINERS ON OCT 27 (even as Boeing reaffirms that first B787 would be delivered by Dec 2011).
October 21, 2011... The Group of Ministers (GoM), Government of India, is scheduled to take a final decision on acquisition of the Boeing 787 medium- size long haul jets or Dreamliners by Air India on 27 Oct 2011 even as Boeing has reaffirmed that first B787 would...

TEXTILE EXPORTS TO MISS TARGET DESPITE WEAK RUPEE (owing to the economic crisis in the main markets of US and Europe).
October 21, 2011... The Confederation of Indian Textile Industry expects textile and garment exports unlikely to meet the target of $33 billion set by the Government of India for 2011-2012. Exports may miss the target owing to the economic crisis in the main...

SC ORDERS ADAG'S DELHI DISCOMS TO PAY Rs45 CRORE TO DVC (by 30 Nov 2011).
October 21, 2011... The Supreme Court (SC) of India has asked BSES Rajdhani Power Limited (BPRL) and BSES Yamuna Power Limited (BYPL) to pay Rs45 crore to Damodar Valley Corporation (DVC) by 30 Nov 2011 to settle outstanding dues for drawing electricity from it....

BHARTI RETAIL TO RAISE SHARE CAPITAL 4-FOLD TO Rs800 CRORE (to allow it to attract sizeable investments).
October 21, 2011... Bharti Retail is planning to raise its authorised share capital four-fold to Rs800 crore from Rs200 crore to allow it to attract sizeable investments without substantial dilution from the promoters, Bharti Enterprises. Bharati Retail has sought...

ROYAL ORCHID PLANS TO SELL HOTELS FOR CUTTING DEBT BURDEN (if it gets good valuations).
October 21, 2011... Royal Orchid Hotels Limited (ROHL) of Bangalore is planning to reduce its debt of over Rs100 crore by selling some of its hotels if it gets good valuations. ROHL is present in the hotel segment through own hotels, joint ventures, leased...