India Business Insight articles from September 2011

India Business Insight archives from September 2011

GOVERNMENT TO BORROW Rs52,872 CRORE MORE IN SECOND HALF (of 2011-2012).
September 30, 2011... The Government of India has revised its borrowing for Oct 2011- Mar 2012 to Rs2,20,000 crore from the earlier estimate of Rs1,67,000 crore. The government has borrowed Rs2,50,000 crore in Apr-Sep 2011. Total revised government borrowing in...

BSNL CUTS OFF PRIVATE OPERATORS IN PUNJAB (owing to non-payment of carriage charges by them).
September 30, 2011... Bharat Sanchar Nigam Ltd (BSNL) has discontinued services to private operators in Punjab owing to non-payment of carriage charges by them. This has adversely affected fixed line and mobile subscribers in Punjab. While BSNL is demanding...

'TOOL DOWN' STRIKE BY BOSCH WORKERS (at its facility in Bangalore to protest against outsourcing of jobs).
September 30, 2011... The workers union of Bosch Ltd has called for a 'tool down' strike at its facility in Bangalore to protest against outsourcing of jobs. The MICO Employee's Association members struck work from the first shift of production on 28 Sep 2011. The...

UNITED SPIRITS TO FOCUS ON EMERGING MARKETS (in Asia and Africa).
September 30, 2011... United Spirits Ltd (USL) plans to focus on emerging markets in Asia and Africa. USL plans to form an Emerging Markets Division to enter into joint ventures and franchisees in these geographies. The company plans to focus on Nigeria and Angola in...

ASHOK LEYLAND BAGS $37 MILLION ORDER FROM TANZANIA (to supply 723 trucks, buses and special-application vehicles).
September 30, 2011... Ashok Leyland (ALL) of the Hinduja group has bagged an order worth $36.56 million from the Government of Tanzania. Under the order, ALL will supply 723 trucks, buses and special-application vehicles. The vehicles, which will also be used for...

GATEWAY HOTELS MAY INVEST Rs700 CRORE, ADD 3,000 ROOMS BY 2015 (to have a portfolio of 5,000 rooms).
September 30, 2011... Indian Hotels Company Ltd of the Tata group plans to set up 22 hotels with 3,000 rooms under the Gateway Hotels & Resorts brand to add to its existing network of 21 properties comprising 2,000 rooms. Gateway Hotels will do so with an...

XANDER PICKS UP 14.5% STAKE IN HCC ARM (for Rs240 crore).
September 30, 2011... The Xander group has acquired 14.5 percent stake in HCC Concessions, a full owned subsidiary of HCC Infrastructure, which is a wholly owned subsidiary of Hindustan Construction Company (HCC), for Rs240 crore. HCC Concessions is implementing six...

RUPEE SLIPS 21 PAISE ON FRESH DOLLAR DEMAND (on 29 Sep 2011).
September 30, 2011... The rupee depreciated by 21 paise against the US currency on 29 Sep 2011 owing to fresh dollar demand from importers and a weak dollar in the overseas market. The rupee opened on 29 Sep 2011 at 49.08/09 for a dollar, slipped to a low of 49.15...

NABARD OPENS LENDING WINDOW TO PRIVATE FIRMS (and earmarks Rs2,000 crore for private firms in sectors like agriculture produce warehousing and storage infrastructure).
September 30, 2011... The National Bank for Agriculture and Rural Development (NABARD) has decided to lend to the private sector. It has earmarked Rs2,000 crore for private firms in sectors like agriculture produce warehousing and storage infrastructure. NABARD...

AXIS BANK OFFERS LIFETIME FIXED INTEREST RATE HOME LOAN SCHEME (at 11.75% for 20 years).
September 30, 2011... Axis Bank has introduced a home loan scheme, Nishchint, with a lifetime fixed rate of interest of 11.75 percent for 20 years. Under the scheme, the bank will provide a loan of 85 percent of the value of the property for loans up to Rs20 lakh and...

EDSERV BUYS CONTENT PROVIDER PROSEL (the company will issue 25 lakh equity shares at Rs140 a share).
September 30, 2011... EdServ Softsystems Ltd has acquired Prosel Ventures Pvt Ltd for Rs35 crore. The company will issue 25 lakh equity shares of Rs10 each at Rs140 a share. Prosel provides course materials for Chartered Accountants, Company Secretaries and Cost and...

ASUS TECHNOLOGY TO EXPAND RETAIL OUTLETS (the company has set up a retail outlet in Kozhikode).
September 30, 2011... ASUS Technology is planning to expand its retail outlets in India. The company has set up a retail outlet in New Delhi, two outlets in Kolkata and one in Goa. ASUS Technology has set up an exclusive retail outlet in Kozhikode. The company has...

SEBI MANDATES SETTING UP OF CREDIT RATING AGENCY FOR STRUCTURED PRODUCTS (issuers are expected to provide the value to investors on request).
September 30, 2011... The Securities and Exchange Board of India (SEBI) has made it mandatory for issuers of structured products to appoint a credit rating agency for valuing. The issuers are required to put up the valuation on their Web sites once a week. The...

DIVI'S LABS CMD TRANSFERS 32.41% STAKE TO FAMILY (Murali K Divi has transferred the shares to son and daughter).
September 30, 2011... The Chairman and Managing Director (CMD) of Divi's Laboratories, Murali K Divi, has transferred 32.41 percent stake to his son and daughter as gift. The CMD has transferred a stake of 12.06 percent to Kiran S Divi. Murali K Divi has...

BSE, NSE TO SHARE TRADING PLATFORMS (the exchanges have decided to exchange quotations of market segments).
September 30, 2011... The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have decided to exchange quotations of market segments. All market segments of BSE will be available on NOW facility of the NSE. All market segments of the NSE will be...

GATI LTD (will transfer its shipping business).
September 30, 2011... Gati Ltd intends to transfer its shipping business to Gati Ship Pvt Ltd. The board of directors has approved the transfer by way of slump sale. The company is planning to set up a joint venture with a reputed global shipping company.

DABUR (expects competition from multi national companies).
September 30, 2011... Dabur Ltd expects competition from multi national companies in the shampoo segment. The company is losing market share in the oral care segment to Colgate. Dabur is also facing competition in the juices segment. The company intends to invest...

SPICEJET TO ADD 8 AIRCRAFT THIS FISCAL (the airline is waiting for the approval to fly to 10 destinations in South East Asia).
September 30, 2011... SpiceJet is planning to add eight aircraft to its fleet by Mar 2012. The airline has a fleet of 35 aircraft and intends to add six Bombardier Q400 aircraft and two Boeing aircraft. SpiceJet is waiting for the approval to fly to 10 new...

KOCHI PORT PLANS DESALINATION PLANT; INVITES PRIVATE SECTOR (the port intends to convert Kochi into a major bunkering destination).
September 30, 2011... The Cochin Port Trust (CPT) has invited expressions of interest from private companies to set up a desalination plant. The port intends to convert Kochi into a major bunkering destination. CPT is receiving only 2,000 tonnes of water from...

CORPORATION BANK'S BRANCHLESS BANKING NOW OPERATIONAL IN 2,600 VILLAGES (the bank has opened over 13 lakh no-frill accounts).
September 30, 2011... Corporation Bank is operating its branchless banking model in 2,600 villages in India. The bank had launched the branchless banking model in 2006. Corporation Bank has opened over 13 lakh no-frill accounts across the country. The bank has...

BLACKSTONE INDIA CAN INVEST $500-800 MILLION A YEAR, SAYS GUPTA (depending on several factors, including the macro environment).
September 30, 2011... Mr. Akhil Gupta has stated that Blackstone India has the capacity and ability to invest $500-800 million every year in India depending on several factors, including the macro environment. Mr. Gupta is the chairman and managing director of the...

ROYAL ENFIELD PLANS TO MAKE DIESEL VARIANTS (as well as two-wheelers with bigger engines, with competition getting more intense).
September 30, 2011... Royal Enfield of Chennai is planning to launch diesel variants as well as two-wheelers with bigger engines, with competition getting more intense. Royal Enfield is India's oldest motorcycle manufacturing company and a division of Eicher Motors...

SHELL SHUTTING 20 RETAIL OUTLETS, SAYS PART OF 'NETWORK PLANNING' (the company's retail outlet closures have been in Tamil Nadu and Maharashtra).
September 30, 2011... Shell India has already closed 20 out of its 81 retail outlets spread across six states - Karnataka, Tamil Nadu, Andhra Pradesh, Maharashtra, Gujarat and Assam. Most of the company's retail outlet closures have been in Tamil Nadu and...

ACC LTD EYES LARGER PIE (after connecting its cement project at Wadi in Karnataka with two satellite cement grinding plants).
September 30, 2011... Cement major ACC Limited has integrated its cement project at Wadi in Karnataka with two satellite cement grinding plants that manufacture Portland slag cement and fly-ash based Portland Pozzolana cement. The two cement grinding units are...

BISLERI'S GROWING THIRST FOR VOLUMES (which has a dominant 40.3 percent market share of the Rs3,000 crore bottled water segment).
September 30, 2011... Bisleri has grabbed a dominant 40.3 percent market share of the Rs3,000-crore bottled water segment, while PepsiCo's Aquafina holds around 15 percent share and Coca-Cola's Kinley, around 10 percent. Bisleri has 52 bottling plants across the...

LG PLAYS PRICING CARD FOR LAPTOPS (by launching 13 notebook models in the range of Rs26,000- Rs66,780).
September 30, 2011... LG Electronics India Limited (LGEIL) has re-entered the Indian laptop market with 13 notebook models in the range of Rs26,000- Rs66,780 against the earlier pricing of Rs32,000 and above, two years after withdrawing its laptop models from the...

MATRIX PARTNERS INVESTS IN SOCIAL MOBILITY START-UP (U2opia will use this round of funding to hire more talent, invest on product innovation and expand its global footprint).
September 30, 2011... Private equity (PE) firm Matrix Partners India has invested in social mobility start-up U2opia Mobile, based in Singapore. U2opia enables connectivity to social media on basic phones without an Internet connection. It will use this round of...

GAIL ACQUIRES 20% STAKE IN US COMPANY'S SHALE AGREAGE FOR $95 MILLION (to establish its presence in North America).
September 30, 2011... GAIL India has acquired 20 percent stake in Eagle Ford Shale acreage of Carrizo, based in Houston, for $95 million. This is the second major acquisition of shale gas in the United States (US) after Reliance Industries Ltd (RIL). This joint...

BALAKRISHNA INDUSTRIES LTD (is a leading global player in the manufacturer of pneumatic tyres for special purpose vehicles).
September 30, 2011... Balakrishna Industries Ltd of the Siyaram-Poddar Group is a leading global player in the manufacturer of pneumatic tyres for special purpose vehicles used in the agricultural, industrial & construction, earth moving, all terrain vehicles...

BONANZA FOR INDIAN IT VENDORS AS EUROPE'S BANKS EYE OFFSHORING MORE WORK (owing to the financial crisis in Europe).
September 30, 2011... A joint study conducted by Deutsche Bank and Value Leadership Group has revealed that several European banks will outsource more work to Indian information technology (IT) companies such as Tata Consultancy Services (TCS) and Infosys...

GAIL MAKES FIRST SHALE GAS ASSET BUY; PARTNERS US COMPANY (to invest $300 million in the shale asset over a five-year period).
September 30, 2011... GAIL Global (US) Inc, a fully owned subsidiary of GAIL (India) Ltd, has acquired its first shale gas asset from Carrizo Oil & Gas Inc (COGI) of the US for $95 million. GAIL Global will pick up 20 percent stake in Eagle Ford Shale acreage of...

MAHINDRA EYES ENTRY INTO CHINA, RUSSIA WITH NEW CROSSOVER (vehicle, which will be launched in South Africa on 1 Oct 2011).
September 30, 2011... Mahindra & Mahindra (M&M), which recently launched its crossover model, XUV 500, proposes to foray into China and Russia. The company plans to launch the XUV 500 in 10 major export markets in the next six-eight months and take it to...

ROYAL ENFIELD TARGETS LATAM, ASEAN AS PART OF GLOBAL STRATEGY (to double its global business to 10% of total volumes by 2015).
September 30, 2011... Royal Enfield of Chennai has decided to adopt a de-risk business plan to double its global business to 10 percent of total volumes by 2015. The company plans to focus on Latin America (LatAm) including Uruguay, Ecuador, Argentina, Columbia...

THIRD HONDA PLANT TO REV UP TWO-WHEELER OUTPUT TO FOUR MILLION (units per year from the middle of 2013).
September 30, 2011... Honda Motorcycle & Scooter India proposes to increase production of two-wheelers to four million units per year from the middle of 2013. It will commission its third manufacturing facility at Narasapur in Kolar district of Karnataka by...

MAHINDRA LAUNCHES XUV 500 AT Rs10.8 LAKH (in the Indian market on 29 Sep 2011).
September 30, 2011... Mahindra & Mahindra (M&M) has launched two diesel variants of its crossover model, XUV 500, in the Indian market on 29 Sep 2011. The model comes with a 2.2-litre engine, six-speed transaxle, touch screen infotainment system with GPS,...

FOOD INFLATION RISES TO 9.13%; PRANAB TERMS IT A 'GRAVE CONCERN' (as it goes above 9% in week ended 17 Sep 2011 from 8.84% in the previous week).
September 30, 2011... Food inflation has risen to 9.13 percent in the week ended 17 Sep 2011 from 8.84 percent in the previous week. The Finance Minister, Government of India, Mr Pranab Mukherjee, has termed the increase as a matter of grave concern as food...

STERLING HOLIDAY PLANS TO BUY MORE PROPERTIES (to acquire more timeshare subscribers).
September 30, 2011... Sterling Holiday Resorts Ltd proposes to add 300 rooms by buying more properties, renovate existing properties to acquire more timeshare subscribers. The company has allocated Rs50 crore for refurbishment and intends to add 300 rooms by 2013.

BONDS FALL SHARPLY ON GOVERNMENT BORROWING PLANS (on 29 Sep 2011).
September 30, 2011... Bonds declined on 29 Sep 2011 owing to the Government of India revising its borrowing target to Rs2.2 lakh crore from Rs1.67 lakh crore targeted earlier for Oct 2011-Mar 2012. The benchmark 7.8 percent 2021 paper closed at Rs95.85 on 29 Sep 2011...

CALL RATES END STEADY (on 29 Sep 2011 owing to equal demand and supply).
September 30, 2011... The inter-bank call rate remained stable on 29 Sep 2011 owing to equal demand and supply. The four-day inter-bank call rate closed at 8.25/30 percent on 29 Sep 2011.

SHARE MICROFIN INKS Rs1,900 CRORE DEBT RECAST DEAL (with a consortium of banks).
September 30, 2011... Share Microfin Ltd (SML) has inked a corporate debt restructuring (CDR) agreement with a consortium of banks for debt recast of Rs1,900 crore. SML has been extended a repayment period of seven years and moratorium on repayment for one year. This...

INDIA POST, MONEY GRAM TIE UP FOR MONEY TRANSFER (across 100 post offices in Delhi, Punjab and Tamil Nadu).
September 30, 2011... India Post has joined hands with MoneyGram International to provide money transfer services across 100 post offices in Delhi, Punjab and Tamil Nadu. The service will eventually be available at 5,000 post offices in the country by 2014.

ORIENTAL BANK OPENS FIRST E-LOBBY (at Delhi on 29 Sep 2011 to provide round-the-clock banking services to its customers).
September 30, 2011... Oriental Bank of Commerce has inaugurated on 29 Sep 2011 its first e-lobby at Delhi, which will provide round-the-clock banking services to its customers. The e-lobby will offer services like cash withdrawal, balance enquiry, mini statement,...

FESTIVAL OFFER: CORPORATION BANK CUTS INTEREST RATE ON HOME, VEHICLE LOANS (and the offer will be available from 1 Oct 2011 to 31 Dec 2011).
September 30, 2011... Corporation Bank has launched a Grand Festival Offer, which will offer home and vehicle loans at lower rates of interest. The offer will be available from 1 Oct 2011 to 31 Dec 2011. The bank will cut interest rates by 35 to 100 basis points...

NOKIA SIEMENS TO EXPAND AIRTEL'S NETWORK IN 7 AFRICAN COUNTRIES (Airtel had signed similar deals with Ericsson and Huawei).
September 30, 2011... Bharti Airtel has signed an agreement with Nokia Siemens Network to expand its 2G networks and deploy 3G networks in seven countries in Africa. Nokia Siemens will managed end-to-end network operations of Airtel using its FlexiHybrid microwave...

HANOVER INSURANCE, COGNIZANT EXPAND TIE UP (the companies had entered into an agreement in 2005).
September 30, 2011... The Hanover Insurance Group has appointed Cognizant as its remote infrastructure management service provider. Cognizant had entered into an agreement with the Hanover Insurance Group in 2005 to provide information technology (IT) and IT-enabled...

TABLET SHIPMENTS WILL TOUCH 2.75 LAKH UNITS THIS YEAR: STUDY (the market had 27 models from 10 vendors in Jun 2011).
September 30, 2011... A study by CyberMedia Research expects tablet shipments in India to go up to 2.75 lakh units in 2011. The market had 27 models from 10 vendors in Jun 2011. The cost of tablets shipped was between Rs8,000 and Rs47,000 a unit in Apr-Jun 2011....

SISTEMA SHYAM RAISES $200-MILLION LOAN (the company intends to use the funds to expand its operations).
September 30, 2011... Sistema Shyam Teleservices Ltd (SSTL) has raised a loan of $100 million from ICICI Bank and another $100 million from Barclays Bank. The company intends to use the funds to expand its operations in India. SSTL operates telecom services under...

ASHOK LEYLAND (has bagged an order from the Government of Tanzania).
September 30, 2011... Ashok Leyland Ltd (ALL) has bagged a major order from the Government of Tanzania. The company will supply 723 trucks, buses and special application vehicles. ALL is expected to execute the order of $36.56 million by Mar 2012.

HINDUSTAN CONSTRUCTION CO LTD (has sold a stake of 14.5 percent in HCC Concessions to the Xander Group).
September 30, 2011... Hindustan Construction Co Ltd (HCC) has sold a stake of 14.5 percent in HCC Concessions Ltd to the Xander Group for Rs240 crore. HCC Concessions is a subsidiary of HCC Infrastructure. HCC Infrastructure is a subsidiary of HCC. The Xander Group...

RAHUL BAJAJ, WIFE SELL BAJAJ AUTO SHARES (the couple has sold 3.65 lakh shares to their children).
September 30, 2011... Rahul Bajaj and Ruparani Bajaj have sold 3.65 lakh shares of Bajaj Auto Ltd to their children, Sanjiv Bajaj and Sunaina Kejriwal, for nearly Rs56 crore. Rahul Bajaj had sold 5.6 lakh shares to Rajiv Bajaj for Rs86 crore. Rahul Bajaj has...

GMR INFRA (will sell its stake of 30 percent in GMRE).
September 30, 2011... GMR Infrastructure Ltd intends to sell its stake of 30 percent in GMRE to Petronas International Corporation Ltd. GMRE is setting up a gas-based power plant of 800 megawatt in Singapore with an investment of S$1.17 billion. GMR Infrastructure is...

GOAIR TO FLY TO MORE DESTINATIONS (the airline will fly to Kolkata, Ranchi and Port Blair).
September 30, 2011... GoAir has decided to launch new flights to Kolkata, Ranchi and Port Blair from 8 Oct 2011. The airline operates 588 weekly flights to 21 destinations. GoAir will offer the earliest morning flight from Delhi to Kolkata.

INDIA TO BE RECIKTT'S OTC PRODUCTION HUB (for its popular brands like Dettol, Mortein, Disprin, Strepsils and Cherry Blossom).
September 30, 2011... Consumer goods major Reckitt Benckiser Limited (RBL) of UK is planning to invest another Rs200 crore at its plant at Baddi in Himachal Pradesh to refurbish it. The company has proposed to make the plant a global hub for manufacturing...

JNPT TO RAISE Rs1,700 CRORE THROUGH BONDS (by Mar 2012 in order to part-finance its port modernisation plan).
September 30, 2011... The Jawaharlal Nehru Port Trust (JNPT) in Mumbai is planning to raise Rs1,700 crore by issuing bonds by Mar 2012 in order to part- finance its port modernisation plan. JNPT is a public sector port and is looking at deepening its berth and...

BAN ON BULK EDIBLE OIL EXPORTS EXTENDED FOR ONE MORE YEAR (till 30 Sep 2012 to prevent further jump in food inflation).
September 30, 2011... The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry, Government of India, has extended the ban on edible oil exports for one more year. DGFT has extended the ban till 30 Sep 2012 to prevent further jump...

HYUNDAI'S SMALLEST CAR COMING IN OCTOBER (Hyundai Motors of South Korea is making the global debut of its smallest car 'Eon' in India in Oct 2011).
September 30, 2011... Hyundai Motors of South Korea is making the global debut of its smallest car 'Eon' in India in Oct 2011. It has already started trial production of the car at its facility in Chennai. Eon, pegged at a starting price of Rs2.5 lakh, will be...

GSPC, BG PLAN LNG SUPPLY CONTRACT FOR 20 YEARS, PACT LIKELY NEXT YEAR (sign an initial agreement for supply up to 2.5 million tonne a year of LNG).
September 30, 2011... British Gas (BG) has signed an initial agreement to supply up to 2.5 million tonne a year of liquefied natural gas (LNG) to Gujarat State Petroleum Corporation (GSPC) for 20 years. GSPC and BG are likely to sign a binding agreement by early 2012...

HCC LOOKING OUT FOR DISTRESSED ROAD PROJECTS (from developers that have taken on more work than they can deliver under the PPP model).
September 30, 2011... Hindustan Construction Corporation (HCC), based in Mumbai, is looking to take over road projects from developers that have taken on more work than they can deliver under the public-private partnership (PPP) model. It is looking to use the...

PIRAMAL GLASS LIMITED (has grown rapidly in the past five years and is now amongst the topmost flacconage manufacturers for cosmetics & perfumery markets worldwide).
September 30, 2011... Piramal Glass Ltd (PGL), based in Mumbai, is a manufacturer of high-end perfume and speciality beverage glass bottles, and has manufacturing plants in India, Sri Lanka and the United States (US) and marketing offices in ten countries spread...

JOLLY BOARD LIMITED (is the largest manufacturer of asphalt fibreboards in Asia).
September 30, 2011... Jolly Board Ltd (JBL) has won the Capexil Top Export Award for the fourth consecutive year. It has cutting edge advanced technology and continuous innovation and is the largest manufacturer of asphalt fibreboards in Asia. It has now become a...

NMDC LIMITED (is engaged in the business of exploration and development of mines to produce raw material for the steel industry).
September 30, 2011... NMDC Ltd, established in 1958, is in a Navratna public sector enterprise (PSE) under the Ministry of Steel, Government of India. It is a premier mining organisation, producing about 30 million tonnes of high-grade iron ore. It is engaged in...

POWER DEMAND, COAL PRICES POSE CHALLENGES: JSW ENERGY (JSW Energy's performance has been sluggish over the past three quarters on account of rising input costs, plant shutdowns and lower traction in power purchase agreements).
September 30, 2011... JSW Energy, which sells nearly two-thirds of the power produced in the short-term market, is facing operating problems and its performance has been sluggish over the past three quarters on account of rising input costs, plant shutdowns and lower...

RAISING FUNDS, RECAST PLAN CRUCIAL FOR GROWTH: PANTALOON RETAIL (high interest outgo and working capital cycle is putting pressure on Pantaloon's cash flows and could impact future growth plans).
September 30, 2011... The stock of Pantaloon Retail has consistently underperformed the BSE Sensex in the past one year. This is because of its high debt and rising inventory, which continue to weigh heavily on its performance. The company's sales increased by 25...

RELIANCE SPOT EXCHANGE LAUNCHES 2 GOLD CONTRACTS (has launched a 100-gram and a one-kilo gold contracts).
September 30, 2011... Reliance Spot Exchange (RSX), a wholly owned subsidiary of Reliance Exchange Next, has launched a 100-gram and a one-kilo gold contracts. Each trade will result in compulsory delivery on a T+1 basis with no facility being offered to square off...

BHARTI REALTY TO ENTER HOUSING SEGMENT IN 2015 (with an aim to become one of the top three real estate companies in the country).
September 30, 2011... The Bharti Group is planning to enter the residential segment in 2015 by launching upscale homes through its realty unit, Bharti Realty Limited (BRL). The group is aiming to become one of the top three real estate companies in the country. BRL...

ITALIAN FARM GEAR COMPANY ERREPPI SRL SCOUTS FOR PARTNER, M&M ON THE LIST (apart from the Sonalika Group and Tractors and Farm Equipment).
September 30, 2011... Farm equipment major Erreppi Srl of Italy is scouting for a partner in India to develop its products in the country. According to the company, the Mahindra & Mahindra Group has expressed interest for a technology transfer. Erreppi is looking...

RANE HOLDINGS ACQUIRES 26% IN SASMOS HET TECH (through one of its group companies, Rane Holdings).
September 30, 2011... The $500-million Rane Group, a manufacturer of automobile components, has acquired a 26 percent stake in SasMos HET Technology through one of its group companies, Rane Holdings. SasMos HET Technology is a manufacturer of interconnection systems...

KALPATHI GROUP BUYS OUT RANTECH IT PARK FOR $10 M (located on the IT corridor at Sholiganallur on the outskirts of Chennai).
September 30, 2011... The Kalpathi Group of Chennai has acquired Rantech Towers, a ready-to-occupy information technology (IT) Park located on the IT corridor at Sholiganallur on the outskirts of Chennai for $10 million. The Kalpathi Group has interests in private...

SPICEJET OKAYS 3.59 CRORE SHARES TO PROMOTER (leading to the share capital of the low-cost airline rising to Rs565 crore).
September 30, 2011... The shareholders of SpiceJet have approved the issue of over 3.59 crore shares to the promoter, Mr. Kalanithi Maran, on preferential basis. The issue of shares will lead to the authorised share capital of the low-cost airline rising to...

NISSAN SUNNY UNVEILED (expects to launch the diesel variant of the car in 2012).
September 30, 2011... Nissan Motor India (NMI) has exhibited its premium C segment saloon, Sunny in India on 3 Aug 2011 and will launch the car shortly. The company has based the car on V platform and will initially make it available in the 1.5-litre petrol...

HARLEY DAVIDSON FAT BOY SPECIAL (available at a price of Rs19,70,000).
September 30, 2011... Harley Davidson India has made its model, Fat Boy Special, available in India at a price of Rs19,70,000. The company will import this motorcycle that is a variant of Fat Boy, as completely built up unit. It will make available this model...

MERCEDES-BENZ'S STAR LOUNGE (at the Terminal 3 of Delhi International Airport).
September 30, 2011... Mercedes-Benz India has established its 'Star Lounge' at the Terminal 3 of Delhi International Airport. The company has displayed the products of the company like scale models, key chains and golfing equipment in this Lounge open to all. ...

FORD IN GUJARAT (proposes to establish a factory and engine plant in Sanand, Gujarat).
September 30, 2011... Ford Motor Company has signed a memorandum of understanding with Government of Gujarat for establishing a factory and engine plant in Sanand, Gujarat. The company will invest about Rs4,000 crore in this project to be set up on 460 acres. ...

PROFILE OF MARUTI SWIFT ZXi/ZDi (priced in the range of Rs5.78-6.62 lakh).
September 30, 2011... The Swift ZXi/ZDi, a passenger car offering from Maruti, is available in two variants with two different engine configurations and in the price range of Rs5.78-6.62 lakh. While the ZXi I-4, 1,197 cubic centimetres (cc), petrol engine that...

PROFILE OF FERRARI CALIFORNIA (priced at Rs2.27 crore onwards).
September 30, 2011... The California, a luxury car offering from Ferrari and priced at Rs2.27 crore onwards, is equipped with a 4,297 cubic centimetres, V-8, petrol engine that develops power of 453bhp at 7,750 revolutions per minute (rpm) and torque of 485Nm at...

PROFILE OF MERCEDES CLS 63 AMG (priced at Rs74.68 lakh onwards).
September 30, 2011... The CLS 63 AMG, a luxury car offering from Mercedes and priced at Rs74.68 lakh onwards plus duties, is equipped with a 5,461 cubic centimetres, V-8, petrol engine that develops power of 525bhp at 5,250 revolutions per minute (rpm) and torque of...

PROFILE OF TATA ARIA 4X2 PLEASURE (priced at Rs12.61 lakh).
September 30, 2011... The Aria 4X2 Pleasure, a passenger vehicle offering from Tata and priced at 12.61 lakh, is equipped with a 2,179 cubic centimetres, I-4, diesel engine that develops power of 138bhp at 4,000 revolutions per minute (rpm) and torque of 320Nm at...

PROFILE OF TOYOTA INNOVA VX 8S (priced at Rs12.51 lakh).
September 30, 2011... The Innova VX 8S, a passenger vehicle offering from Toyota and priced at 12.51 lakh, is equipped with a 2,494 cubic centimetres, I-4, diesel engine that develops power of 100bhp at 3,600 revolutions per minute (rpm) and torque of 200Nm at...

PROFILE OF TATA INDICA VISTA ZX (available in two variants, Quadrajet and Safire 90).
September 30, 2011... The Indica Vista ZX, a premium small car offering from Tata, is available in two variants, Quadrajet and Safire 90. While the Quadrajet, 1,248 cubic centimetres (cc), diesel engine that develops power of 74bhp at 4,000 revolutions per minute...

PROFILE OF SKODA LAURA RS (priced in the range of Rs16-17 lakh).
September 30, 2011... The Laura RS, a rally sport car offering from Skoda and priced in the range of Rs16-17 lakh onwards, is equipped with a 1,798 cubic centimetres, I-4, turbocharged petrol engine that develops power of 160bhp at 4,500-6,200 revolutions per minute...

PROFILE OF MERCEDES C200 BLUE EFFICIENCY (equipped with a 1,796cc, I-4, petrol engine).
September 30, 2011... The C200 Blue Efficiency, a luxury car offering from Mercedes is equipped with a 1,796 cubic centimetres, I-4, petrol engine that develops power of 186bhp at 5,600 revolutions per minute (rpm) and torque of 285Nm at 2,400-4,000rpm. The C200...

APOLLO TYRE TO CULTIVATE RUBBER IN LAOS (acquires 10,000 hectares of land).
September 30, 2011... Apollo Tyres Ltd (ATL) is looking at overcoming the shortage of natural rubber and has acquired 10,000 hectares of land in Laos of South East Asia for cultivating rubber. The company is the first Indian company to acquire plantation land in a...

EICHER MOTORS TO INVEST Rs900 CRORE (by 2015).
September 30, 2011... Eicher Motors proposes to invest about Rs900 crore by 2015. The company has allocated Rs500 crore for expansion in VE Commercial Vehicles Ltd, Rs300 crore for its engine plant and Rs120-140 crore for the Royal Enfield facility near Chennai.

ACE TO ACQUIRE COMPANIES IN INDIA, CHINA (with an investment of Rs121.5 crore).
September 30, 2011... Action Construction Equipment (ACE) of Haryana, a manufacturer of cranes and construction and material handling equipments, intends to acquire two companies in India and China with an investment of $27 million (Rs121.5 crore). The company...