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MARUTI SUZUKI'S K-SERIES MILESTONE (as it produces five lakh engines within two years).
September 1, 2010... Maruti Suzuki has produced five lakh units of K-series engines within two years. The company plans to increase the production of K-series engines by two lakh units to meet the growing demand. The K-series engine is used to power the Zen Estilo,...
M&M GETS LDV CERTIFICATION FOR US (launch of Scorpio pick-up in 2010).
September 1, 2010... The Environmental Protection Agency of US has accorded the Light Duty Diesel-Federal Tier-2 BIN-5 & OBD II compliance certificate to Mahindra & Mahindra (M&M). M&M is planning to launch its Scorpio pick up in the US in 2010.
ASHOK LEYLAND BAGS $26 MILLION ORDER FROM SRI LANKA (and will deliver 1,000 Viking buses by Mar 2011).
September 1, 2010... Ashok Leyland Ltd has received an order from People's Leasing Company in Sri Lanka for supply of buses. It will deliver 1,000 Viking buses by Mar 2011. The order is valued at about $26 million. The company has sold 8,000 buses so far in Sri Lanka.
MARUTI A-STAR NOW IN AUTOMATIC GUISE (for Rs4.5 lakh ex-showroom in Mumbai).
September 1, 2010... Maruti Suzuki announced the launch of its four-speed automatic variant of the A-Star. The ex-showroom price of the model in Mumbai is Rs4.5 lakh.
ASHOK LEYLAND EYES GLOBAL BUS MARKET (and acquires 26% stake in Optare Plc of the UK).
September 1, 2010... Ashok Leyland Ltd (ALL) is targeting the bus market globally. It has acquired 26 percent stake in Optare Plc of the UK, which manufactures buses. The partnership will enable ALL to access Optare's green technology for mid-size and full size...
JCB INDIA TO MAKE ITS OWN ENGINES (at its Ballabhgarh unit by Dec 2010).
September 1, 2010... JCB India, the subsidiary of JC Bamford Excavators of the UK, plans to commence production of its own engines by Dec 2010. The engines would be manufactured at its Ballabhgarh unit. Cummins India and Kirloskar Oil Engines are currently...
RENAULT NISSAN PLANT GETS ISO CERTIFICATION (and aims at global top performer quality standards by 2013).
September 1, 2010... The plant of Renault Nissan Automotive India Private Ltd has secured ISO 9001 certification for quality. It has also received ISO 14001 certification for environment management system. It is aiming at global top performer quality standards by...
RAI AUTO TARGETS THE TRUCK REPAIR BUSINESS (and plans to set up the first crash repair centre in Jaipur by Mar 2011).
September 1, 2010... Rai Automotive Systems of Delhi plans to set up crash repair centres for heavy commercial vehicles in India. The first centre is coming up in Jaipur by Mar 2011. Namakkal near Salem in Tamil Nadu and Vijayawada in Andhra Pradesh would also have...
INTEL REMOVES ESYS AND SES AS DISTRIBUTORS (as a part of its global strategy following drop in components market).
September 1, 2010... Intel has ended its distribution tie ups with Esys and SES India. Both the distributors would liquidate their stocks by Oct 2010. Intel is reducing its number of distributors as a part of its global strategy following drop in components market.
CYBERSTAR AIMS AT FOURFOLD GROWTH BY 2013 (and targets Rs1,000 crore turnover).
September 1, 2010... Cyberstar Infocom, distributor of information technology products, plans to increase its sales to Rs1,000 crore by 2013 from current Rs250 crore, a fourfold growth. It has brought in credit lines of Rs30 crore and Rs7 crore as additional equity...
BUFFALO TO INVEST HEAVILY IN BRAND BUILDING (in India in 2010).
September 1, 2010... Buffalo, the storage vendor from Japan, would invest 10 percent of its revenues in India for marketing and building brand awareness in India in 2010. It plans to launch its first exclusive brand store in New Delhi by Sep 2010 and later in...
ACCTON TO SET UP EDGE-CORE INDIA; EYES Rs50 CRORE BUSINESS PIE (as a part of its global restructuring plan).
September 1, 2010... Accton Technology of Taiwan, an enterprise networking company, plans to set up its subsidiary in India called Edge-Core India. The move is a part of its global restructuring plan. It is targeting a turnover of Rs50 crore from its India...
WE WANT TO INCREASE STORE-LEVEL PROFITS BY 20 TIMES IN 30 MONTHS (says the President of Spencer's Retail Ltd).
September 1, 2010... The President of Spencer's Retail Ltd has said that the company is aiming to double its trading area, treble its sales to Rs3,000 crore from Rs1,000 crore and enhance its store-level profit by 20 times in the next 30 months. The company, which...
MADISON TIES UP WITH TREVOR BEATTIE'S BMB (to form BMB Madison Advertising Private Ltd).
September 1, 2010... Madison World has entered into a joint venture deal with Trevor Beattie's Beattie McGuinness Bungay (BMB). The creative advertising business of Madison World, MC2, will be merged into the new venture BMB Madison Advertising Private Ltd. The...
MADURA GARMENTS TO EXPAND RETAIL CHAIN (The Collective in three cities by 2011).
September 1, 2010... Madura Garments Lifestyle Retail Company has decided to expand retail chain The Collective in three cities by 2011. Currently, it has two high-end luxury outlets in Mumbai and Bangalore.
SEBI RELAXES POWER OF ATTORNEY RULES (in a relief to brokers).
September 1, 2010... Securities and Exchange Board of India (SEBI) has exempted Internet-based trading from its earlier order on power of attorney (PoA), in a relief to brokers. SEBI had earlier stipulated that PoA was an option available to clients for asking...
MUKAND SELLS LAND IN MUMBAI FOR Rs42.5 CRORE (to Vodafone Essar Shared Services Ltd).
September 1, 2010... Mukand Ltd has sold five acres of land in Mumbai to Vodafone Essar Shared Services Ltd for Rs42.5 crore. It sold its non-core operations to raise funds and reduce debt.