NetXcell, SinglePoint tie up
Hyderabad, Feb. 11
Telecom application services provider NetXcell Ltd has announced its partnership with SinglePoint, a US-based mobile aggregator and media interactivity expert, to deliver value added services to mobile operators. This would be delivered by gathering information from content providers, media partners and value added service companies in the US market. This partnership opens a new vista for NetXcell to access a huge VAS market in US through SinglePoint’s customer ba se. SinglePoint is the media interactivity expert in mobile that turns viewers into active participants. Its services include mobile message connectivity, applications, reporting and analytics.
Feb 12, 2008 Business Line
Wednesday, April 23, 2008
Etihad Etisalat to invest Rs 70 cr, hire 200 professionals by year-end
Our Bureau
Bangalore, March 25 Etihad Etisalat Co (Mobily), Saudi Arabia’s second largest mobile telephone operator, said on Tuesday that it plans to invest Rs 70 crore in the next three years to expand its operations in India.
The company had set up a wholly owned subsidiary, Mobily InfoTech India Pvt Ltd, last year with an investment of Rs 20 crore to provide IT solutions and consulting services for the parent company.
The company said Mobily InfoTech India Pvt Ltd would hire more than 200 professionals by the end of 2008. At present, it employs about 70 people.
Mr Khalid Al Kaf, Chief Executive and Managing Director, Mobily, said from 2010, Mobily InfoTech India Pvt Ltd would provide services to external telecom operators as well.
He said the Rs 70-crore investment is an initial estimate and the size may increase later.
Mr Al Kaf said the company is open to entering the mobile phone services market in India and is closely monitoring the “very interesting” market in India.
Mar 26, 2008, Business Line
Our Bureau
Bangalore, March 25 Etihad Etisalat Co (Mobily), Saudi Arabia’s second largest mobile telephone operator, said on Tuesday that it plans to invest Rs 70 crore in the next three years to expand its operations in India.
The company had set up a wholly owned subsidiary, Mobily InfoTech India Pvt Ltd, last year with an investment of Rs 20 crore to provide IT solutions and consulting services for the parent company.
The company said Mobily InfoTech India Pvt Ltd would hire more than 200 professionals by the end of 2008. At present, it employs about 70 people.
Mr Khalid Al Kaf, Chief Executive and Managing Director, Mobily, said from 2010, Mobily InfoTech India Pvt Ltd would provide services to external telecom operators as well.
He said the Rs 70-crore investment is an initial estimate and the size may increase later.
Mr Al Kaf said the company is open to entering the mobile phone services market in India and is closely monitoring the “very interesting” market in India.
Mar 26, 2008, Business Line
DoT asks RIM to set up server in India
Blackberry to Blackberry traffic needs to be monitored
Thomas K Thomas
Goa, March 28 The Department of Telecom has asked Research In Motion (RIM), the Canadian company which owns Blackberry services, to look at the possibility of setting up a server in India in case they are not willing to share the decryption code.
The DoT’s request has been supported by Indian mobile operators who are also putting pressure on RIM to amicably resolve the issue at the earliest. Meeting in Capital
At a meeting between DoT and RIM in the Capital on Friday, the Government has asked the company to make necessary arrangements to allow monitoring by security agencies. Officials from the Canadian High Commission were also present during the meeting. RIM has sought more time to respond to DoT’s request.
DoT officials told Business Line that the company has been told that only Blackberry to Blackberry traffic needs to be monitored.
DoT has given a clean chit to data being sent from a Blackberry device to another device or through the Internet as this can be decrypted by the security agencies without getting the codes from RIM. Security concerns
Blackberry services had run into rough weather after security agencies expressed concern that they could not monitor the data being sent through the device due to the high encryption codes.
According to Indian Internet services rules, operators are not allowed to use more than 40 bit encryption code unless they submit a decryption key to the Government.
RIM, which uses more than 128 bit encryption codes to make the transmission secure, has refused to submit the decryption codes on the grounds that it was proprietary. Support for stand
“We are also putting pressure on RIM to do whatever it takes to enable monitoring by security agencies. We support the request to set up a server in India,” said a GSM industry representative.
At present, Bharti Airtel, Vodafone, BPL and Reliance Communications are offering Blackberry services in the country to about 4 lakh subscribers.
Tata Teleservices also wants to offer the service but was stopped by DoT after security agencies raised concerns about monitoring.
Locating a server in India will allow the security agencies to monitor traffic at the gateway without having to break into the Blackberry’s secure transmission codes. According to industry estimates, a server would cost $500,000 at the most.
Earlier, DoT had said that the Government was not interested in banning Blackberry in the country. ISPs’ request
The fallout of the RIM controversy will have a major ramification for the Internet-based application service providers in the country at large. Most of the service providers use 128 bit encryption codes and not all of them have submitted their decryption codes to the Government.
Meanwhile, the Internet Service Providers have asked DoT to raise the permitted encryption levels from 40 bits to 128 bit at least.
Mar 29, 2008, Business Line
Blackberry to Blackberry traffic needs to be monitored
Thomas K Thomas
Goa, March 28 The Department of Telecom has asked Research In Motion (RIM), the Canadian company which owns Blackberry services, to look at the possibility of setting up a server in India in case they are not willing to share the decryption code.
The DoT’s request has been supported by Indian mobile operators who are also putting pressure on RIM to amicably resolve the issue at the earliest. Meeting in Capital
At a meeting between DoT and RIM in the Capital on Friday, the Government has asked the company to make necessary arrangements to allow monitoring by security agencies. Officials from the Canadian High Commission were also present during the meeting. RIM has sought more time to respond to DoT’s request.
DoT officials told Business Line that the company has been told that only Blackberry to Blackberry traffic needs to be monitored.
DoT has given a clean chit to data being sent from a Blackberry device to another device or through the Internet as this can be decrypted by the security agencies without getting the codes from RIM. Security concerns
Blackberry services had run into rough weather after security agencies expressed concern that they could not monitor the data being sent through the device due to the high encryption codes.
According to Indian Internet services rules, operators are not allowed to use more than 40 bit encryption code unless they submit a decryption key to the Government.
RIM, which uses more than 128 bit encryption codes to make the transmission secure, has refused to submit the decryption codes on the grounds that it was proprietary. Support for stand
“We are also putting pressure on RIM to do whatever it takes to enable monitoring by security agencies. We support the request to set up a server in India,” said a GSM industry representative.
At present, Bharti Airtel, Vodafone, BPL and Reliance Communications are offering Blackberry services in the country to about 4 lakh subscribers.
Tata Teleservices also wants to offer the service but was stopped by DoT after security agencies raised concerns about monitoring.
Locating a server in India will allow the security agencies to monitor traffic at the gateway without having to break into the Blackberry’s secure transmission codes. According to industry estimates, a server would cost $500,000 at the most.
Earlier, DoT had said that the Government was not interested in banning Blackberry in the country. ISPs’ request
The fallout of the RIM controversy will have a major ramification for the Internet-based application service providers in the country at large. Most of the service providers use 128 bit encryption codes and not all of them have submitted their decryption codes to the Government.
Meanwhile, the Internet Service Providers have asked DoT to raise the permitted encryption levels from 40 bits to 128 bit at least.
Mar 29, 2008, Business Line
NetXcell investing $3 m in expansion
Our Bureau
Hyderabad, April 22 NetXcell Ltd, services provider for mobile networks, plans to invest $3 million (about Rs 12 crore) in expansion in India and the US.
The company on Tuesday said it has launched a mobile advertising platform Ad-Axis to help telecom service providers to reach out advertisements through mobile phones, which it claimed would become the next important revenue stream for telcos.
Addressing a press conference here, the Executive Chairman of NetXcell , Mr Dayakar Pushkoor, said that the company has had big wins recently including that from Idea for all its circles for outbound diallers for marketing campaigns. It is already working with Airtel and Aircel for SMS-related services and with Lifestyle Communications and SinglePoint in the US.
Business Line, 23rd April 2008.
Our Bureau
Hyderabad, April 22 NetXcell Ltd, services provider for mobile networks, plans to invest $3 million (about Rs 12 crore) in expansion in India and the US.
The company on Tuesday said it has launched a mobile advertising platform Ad-Axis to help telecom service providers to reach out advertisements through mobile phones, which it claimed would become the next important revenue stream for telcos.
Addressing a press conference here, the Executive Chairman of NetXcell , Mr Dayakar Pushkoor, said that the company has had big wins recently including that from Idea for all its circles for outbound diallers for marketing campaigns. It is already working with Airtel and Aircel for SMS-related services and with Lifestyle Communications and SinglePoint in the US.
Business Line, 23rd April 2008.
Megasoft eyes Rs 440-cr revenues
Our Bureau
Hyderabad, April 22 Megasoft Ltd. has recorded revenues of Rs 90.3 crore and profit of Rs 15 crore for the first quarter ended March 31, 2007 as against total revenues of Rs 65 crore and profit of Rs 12.1 crore same period last year.
The Hyderabad based software products company which announced its results here today, hinted that it was in pursuit of couple of acquisitions, one in the US and another in Latin America.
The company has completed the merger of its acquisitions, Visualsoft and BCGI and the severance of about 160 employees would help add to the company’s profitability this year.
The entire BCGI deal of about Rs 5.5 crore was funded internally, according to Mr G.V. Kumar, Chief Executive Officer.
Mr. Kumar, told Business Line that the company is expecting to close this fiscal with overall revenues in the range of Rs 440 crore, with profit at about Rs 80-85 crore.
The company continues to view its telecom business as the main stay. The telecom business contributes about 61 per cent of revenues and software services 39 per cent.
The scrip closed at Rs 94.85 on National Stock Exchange, down 1.2 per cent from Monday
Our Bureau
Hyderabad, April 22 Megasoft Ltd. has recorded revenues of Rs 90.3 crore and profit of Rs 15 crore for the first quarter ended March 31, 2007 as against total revenues of Rs 65 crore and profit of Rs 12.1 crore same period last year.
The Hyderabad based software products company which announced its results here today, hinted that it was in pursuit of couple of acquisitions, one in the US and another in Latin America.
The company has completed the merger of its acquisitions, Visualsoft and BCGI and the severance of about 160 employees would help add to the company’s profitability this year.
The entire BCGI deal of about Rs 5.5 crore was funded internally, according to Mr G.V. Kumar, Chief Executive Officer.
Mr. Kumar, told Business Line that the company is expecting to close this fiscal with overall revenues in the range of Rs 440 crore, with profit at about Rs 80-85 crore.
The company continues to view its telecom business as the main stay. The telecom business contributes about 61 per cent of revenues and software services 39 per cent.
The scrip closed at Rs 94.85 on National Stock Exchange, down 1.2 per cent from Monday
Blue Dart Q1 net up 88%
Our Bureau
Mumbai, April 22 Good growth in volume of cargo in January and February led Blue Dart Express Ltd to record a net profit growth of 88 per cent to Rs 30.7 crore in the first quarter ended March 31, 2008, which is up from Rs 16.3 crore in the same quarter last year.
The total income of the company has risen by 31.9 per cent to Rs 240 crore (Rs 182 crore).
The volume growth was about 38 per cent in the first two months. Another contributing factor to the robust growth has been lower depreciation during the said quarter by Rs 5 crore against corresponding quarter of the previous year.
The majority of the lower depreciation charge relates to the decision of the company to ‘Reduce to Produce’ aircraft and the consequent accelerated depreciation charge of ‘D-check’ in the year 2007, said the company in a statement to the Bombay Stock Exchange.
However, the company witnessed a softening in the numbers for March, said Mr Yogesh Dhingra, Finance Director and Chief Operating Officer of Blue Dart Express.Carrying capacity
“The slowdown in the US economy and general global economic environment has affected the volumes in the month of March. Also the distribution did not take off much last month,” he said.
Though the cargo volumes have not been impressive for March, Mr Dhingra said it is not a cause for concern yet. “The slowdown in the US economy will have some impact on India but it will take at least another two months to assess the actual situation.”
Blue Dart Express currently operates six freighters — three each of Boeing 737 and Boeing 757. With these freighters the company has the capacity to carry 300 tonnes of express cargo per day through its overnight operations. It is currently utilising 80 per cent of this capacity.
According to Mr Dhingra, the company would keep adding one Boeing 757 freighter per year to its fleet till 2011-2012, if the Indian economy grows close to 8 per cent plus. The shares of the company closed at Rs 551.60 on Tuesday, down 0.45 per cent from previous day’s close of Rs 554.10.
Business Line, 23rd April 2008
Our Bureau
Mumbai, April 22 Good growth in volume of cargo in January and February led Blue Dart Express Ltd to record a net profit growth of 88 per cent to Rs 30.7 crore in the first quarter ended March 31, 2008, which is up from Rs 16.3 crore in the same quarter last year.
The total income of the company has risen by 31.9 per cent to Rs 240 crore (Rs 182 crore).
The volume growth was about 38 per cent in the first two months. Another contributing factor to the robust growth has been lower depreciation during the said quarter by Rs 5 crore against corresponding quarter of the previous year.
The majority of the lower depreciation charge relates to the decision of the company to ‘Reduce to Produce’ aircraft and the consequent accelerated depreciation charge of ‘D-check’ in the year 2007, said the company in a statement to the Bombay Stock Exchange.
However, the company witnessed a softening in the numbers for March, said Mr Yogesh Dhingra, Finance Director and Chief Operating Officer of Blue Dart Express.Carrying capacity
“The slowdown in the US economy and general global economic environment has affected the volumes in the month of March. Also the distribution did not take off much last month,” he said.
Though the cargo volumes have not been impressive for March, Mr Dhingra said it is not a cause for concern yet. “The slowdown in the US economy will have some impact on India but it will take at least another two months to assess the actual situation.”
Blue Dart Express currently operates six freighters — three each of Boeing 737 and Boeing 757. With these freighters the company has the capacity to carry 300 tonnes of express cargo per day through its overnight operations. It is currently utilising 80 per cent of this capacity.
According to Mr Dhingra, the company would keep adding one Boeing 757 freighter per year to its fleet till 2011-2012, if the Indian economy grows close to 8 per cent plus. The shares of the company closed at Rs 551.60 on Tuesday, down 0.45 per cent from previous day’s close of Rs 554.10.
Business Line, 23rd April 2008
How good are we in English?
COMMUNICATING BETTER
Anjali Prayag
Bangalore, April 22 It’s time Indians shake off the English language smugness. Recent statistics have thrown up some surprises in the theory that the Indians’ mastery over the English language could give us an edge in the race towards globalisation.
The National Index of Communication Skills (NI-CS) brought out early this year by MeritTrac, a skills assessment company, points out that only 20 per cent of the candidates evaluated met the overall English criteria required by the industry. The report also classifies skills index based on individual evaluation parameters with grammar emerging the lowest with a throughput of just 7.5 per cent.
“We were surprised at such low suitability numbers that we decided to launch an English assessment and learning programme in India,” says Mr Madan Padaki, co-founder and CEO, MeritTrac Services. In a tie-up with Cengage Learning, MeritTrac has launched eEnglish, a programme that combines print and online platforms for English learning and feedback through scientific assessments. MeritTrac intends to administer this programme to around 4,000 people in the banking, financial, retail and manufacturing sectors.
GlobalEnglish, a California-based company that provides learning and support for business English communication, launched its corporate learning services in India last week.
The Indian IT industry will be the target for its services, says its President and CEO, Mr Deepak Desai.
“This is mainly for knowledge workers who interact with people all over the world.”
In a study conducted by the McKinsey Global Institute, it was found that only 13 per cent of university graduates from low-wage countries are suitable for employment in MNCs, and the No. 1 reason for this is lack of English skills.
However, teaching English language in India will be a lot more complex than in China because of the various levels of the language knowledge among different strata of people, points out Mr Desai. Although English is looked upon as a common skill among people in the technology and business sectors, it is not always a fact, he says. “Outside the major cities, fewer people speak English as a second language, or speak it well.”
23rd April 08, Business Line
COMMUNICATING BETTER
Anjali Prayag
Bangalore, April 22 It’s time Indians shake off the English language smugness. Recent statistics have thrown up some surprises in the theory that the Indians’ mastery over the English language could give us an edge in the race towards globalisation.
The National Index of Communication Skills (NI-CS) brought out early this year by MeritTrac, a skills assessment company, points out that only 20 per cent of the candidates evaluated met the overall English criteria required by the industry. The report also classifies skills index based on individual evaluation parameters with grammar emerging the lowest with a throughput of just 7.5 per cent.
“We were surprised at such low suitability numbers that we decided to launch an English assessment and learning programme in India,” says Mr Madan Padaki, co-founder and CEO, MeritTrac Services. In a tie-up with Cengage Learning, MeritTrac has launched eEnglish, a programme that combines print and online platforms for English learning and feedback through scientific assessments. MeritTrac intends to administer this programme to around 4,000 people in the banking, financial, retail and manufacturing sectors.
GlobalEnglish, a California-based company that provides learning and support for business English communication, launched its corporate learning services in India last week.
The Indian IT industry will be the target for its services, says its President and CEO, Mr Deepak Desai.
“This is mainly for knowledge workers who interact with people all over the world.”
In a study conducted by the McKinsey Global Institute, it was found that only 13 per cent of university graduates from low-wage countries are suitable for employment in MNCs, and the No. 1 reason for this is lack of English skills.
However, teaching English language in India will be a lot more complex than in China because of the various levels of the language knowledge among different strata of people, points out Mr Desai. Although English is looked upon as a common skill among people in the technology and business sectors, it is not always a fact, he says. “Outside the major cities, fewer people speak English as a second language, or speak it well.”
23rd April 08, Business Line
Friday, April 18, 2008
TCG to invest Rs 250cr in IT park project:
BS Reporter / Kolkata April 15, 2008
TCG Real Estate, a part of The Chatterjee Group promoted by Purnendu Chatterjee, is planning to take up an IT park project at Sector V, near the Salt Lake area, with an investment of around Rs 250 crore.
The entire project, would be spread over 11 lakh square feet and split in two phases, and is slated to be completed by 2012.
TCG was also exploring the possibility of executing similar projects in places like Siliguri and Rajarhat, said Himon Sanyal, head, business development, TCG Real Estate.
The project, to be launched in the latter half of the year, would be funded through internal accruals, he said.
In the first phase of the project, around 6 lakh square feet area would be developed, with ground floor dedicated to retail space.
TCG Real Estate, which has a presence in about eight cities across India, has a tie-up with the US$ 25 billion US-based Vornado Realty Trust for partnering its large format projects like special economic zones (SEZs).
Biotech Park park in Pune, World Trade Centre in Delhi and Bengal Intelligent Park in Sector V, near Kolkata, are some of the major projects of TCG.
The company has a landbank with capacity to develop US$11 .1 million sq feet of projects.
BS Reporter / Kolkata April 15, 2008
TCG Real Estate, a part of The Chatterjee Group promoted by Purnendu Chatterjee, is planning to take up an IT park project at Sector V, near the Salt Lake area, with an investment of around Rs 250 crore.
The entire project, would be spread over 11 lakh square feet and split in two phases, and is slated to be completed by 2012.
TCG was also exploring the possibility of executing similar projects in places like Siliguri and Rajarhat, said Himon Sanyal, head, business development, TCG Real Estate.
The project, to be launched in the latter half of the year, would be funded through internal accruals, he said.
In the first phase of the project, around 6 lakh square feet area would be developed, with ground floor dedicated to retail space.
TCG Real Estate, which has a presence in about eight cities across India, has a tie-up with the US$ 25 billion US-based Vornado Realty Trust for partnering its large format projects like special economic zones (SEZs).
Biotech Park park in Pune, World Trade Centre in Delhi and Bengal Intelligent Park in Sector V, near Kolkata, are some of the major projects of TCG.
The company has a landbank with capacity to develop US$11 .1 million sq feet of projects.
New Ventures plans equity fund of $100,000:
Sohini Das & Jayajit Dash / Kolkata April 15, 2008
New Ventures India(NVI), a joint initiative of the Confederation of Indian Industries (CII)-Sohrabji Godrej Green Business Centre , World Research Institute (WRI), Washington DC and the United States Agency for International Development(USAID), has roped in five venture capital funds with eight more in the pipeline to fund green technology projects in small and medium enterprises.
Major players like Sequia Capital, Nexus India Capital, Rianta Capital, Acumen Fund, and angel funds like ATE enterprises had already joined the Green Investor Network of NVI. Talks are on with IDG Ventures among others, and eight more will join the network by May this year.
ICICI Bank had already inked a memorandum of understanding with NVI last year and had agreed to contribute Rs 100 crore to the Green Investor Network.
The programme seeks to fund investemnts worth $250 million in green SMEs in India by 2010.
An NVI spokesperson also informed that the alliance had plans to create an equity fund worth $100,000 or more in the future.
As NVI acts as a facilitator to bring investments to SMEs working on clean technology, it could not start a fund itself, and a separate entity altogether could be spun off for the purpose, she added. The plans, however, were at a nascent stage, she informed.
The initiative had already facilitated investment flow worth $12.8 million to five portfolio companies working in the areas of renewable energy, energy efficient devices, recycling of polythene bags into fashionable accessories, eco-tourism among others.
The alliance had started with USAID as the initial equity holder. USAID's equity participation, however, ends in September this year, said S Padmanabhan, deputy director and senior energy advisor, USAID India.
To sustain the initiative NVI will now start charging the investors as well as the participating SMEs.
Sohini Das & Jayajit Dash / Kolkata April 15, 2008
New Ventures India(NVI), a joint initiative of the Confederation of Indian Industries (CII)-Sohrabji Godrej Green Business Centre , World Research Institute (WRI), Washington DC and the United States Agency for International Development(USAID), has roped in five venture capital funds with eight more in the pipeline to fund green technology projects in small and medium enterprises.
Major players like Sequia Capital, Nexus India Capital, Rianta Capital, Acumen Fund, and angel funds like ATE enterprises had already joined the Green Investor Network of NVI. Talks are on with IDG Ventures among others, and eight more will join the network by May this year.
ICICI Bank had already inked a memorandum of understanding with NVI last year and had agreed to contribute Rs 100 crore to the Green Investor Network.
The programme seeks to fund investemnts worth $250 million in green SMEs in India by 2010.
An NVI spokesperson also informed that the alliance had plans to create an equity fund worth $100,000 or more in the future.
As NVI acts as a facilitator to bring investments to SMEs working on clean technology, it could not start a fund itself, and a separate entity altogether could be spun off for the purpose, she added. The plans, however, were at a nascent stage, she informed.
The initiative had already facilitated investment flow worth $12.8 million to five portfolio companies working in the areas of renewable energy, energy efficient devices, recycling of polythene bags into fashionable accessories, eco-tourism among others.
The alliance had started with USAID as the initial equity holder. USAID's equity participation, however, ends in September this year, said S Padmanabhan, deputy director and senior energy advisor, USAID India.
To sustain the initiative NVI will now start charging the investors as well as the participating SMEs.
GACL, Dow ink 50:50 JV, to invest Rs 600 cr in Guj
BSReporter / Ahmedabad April 17, 2008
Will set up a plant to make chlorinated organics.
State-owned Gujarat Alkalies and Chemicals (GACL) has signed an agreement with Dow Europe GmbH to set up a 50:50 joint venture for manufacturing 2,00,000 tonne per annum (TPA) of chlorinated organics at Dahej (Gujarat). The JV will invest Rs Rs 600 crore on the project.
NEW ALLIES
GACL will supply around 600 metric tonnes of chlorine per day to the JV company
Dow produces chloromethane at four sites around the world with a total capacity of 5,00,000 metric tonnes per annum
GACL board recently approved expansion projects worth Rs 1,200 crore As per the agreement, GACL will supply around 600 metric tonne of chlorine per day to the JV. The synergy of GACL and Dow will lay a strong foundation for mutual growth in future, said GACL, which is the largest caustic soda maker in the country.
Dow Europe GmbH is a wholly owned subsidiary of The Dow Chemical Company. Dow is a global leader in chemical industry and the largest supplier of chlorinated organic products. It currently produces chloromethane at four sites around the world with a total capacity of 5,00,000 metric tonne per annum. The JV company will primarily cater to the demand of the Saarc countries.
GACL has been aggressively expanding its capacity. Its board of directors has recently approved expansion projects worth Rs 1,200 crore.
Recently, a UAE-based entity had approached GACL for establishing a caustic soda plant there, for which GACL is carrying out a market survey.
BSReporter / Ahmedabad April 17, 2008
Will set up a plant to make chlorinated organics.
State-owned Gujarat Alkalies and Chemicals (GACL) has signed an agreement with Dow Europe GmbH to set up a 50:50 joint venture for manufacturing 2,00,000 tonne per annum (TPA) of chlorinated organics at Dahej (Gujarat). The JV will invest Rs Rs 600 crore on the project.
NEW ALLIES
GACL will supply around 600 metric tonnes of chlorine per day to the JV company
Dow produces chloromethane at four sites around the world with a total capacity of 5,00,000 metric tonnes per annum
GACL board recently approved expansion projects worth Rs 1,200 crore As per the agreement, GACL will supply around 600 metric tonne of chlorine per day to the JV. The synergy of GACL and Dow will lay a strong foundation for mutual growth in future, said GACL, which is the largest caustic soda maker in the country.
Dow Europe GmbH is a wholly owned subsidiary of The Dow Chemical Company. Dow is a global leader in chemical industry and the largest supplier of chlorinated organic products. It currently produces chloromethane at four sites around the world with a total capacity of 5,00,000 metric tonne per annum. The JV company will primarily cater to the demand of the Saarc countries.
GACL has been aggressively expanding its capacity. Its board of directors has recently approved expansion projects worth Rs 1,200 crore.
Recently, a UAE-based entity had approached GACL for establishing a caustic soda plant there, for which GACL is carrying out a market survey.
UltraTech to invest Rs 3000 cr in Gujarat
Maulik Pathak / Mumbai/ Ahmedabad April 17, 2008
To set up cement plant and a 60-Mw power project.
UltraTech Cement, an Aditya Birla group company, is setting up a greenfield project at Mahuva in Bhavnagar district of Gujarat at an investment of Rs 3,000 crore.
UltraTech Cement, an Aditya Birla group company, is setting up a greenfield project at Mahuva in Bhavnagar district of Gujarat at an investment of Rs 3,000 crore.
The company has proposed a cement plant with a capacity to produce 10,000 tonnes per day or about 3.5 million tonnes of cement annually. This apart, it is planning to set up a 60-Mw coal-based power project in the area. It has earmarked about 2,500 acres of land for the project of which 10 per cent has already been acquired, said sources close to the development.
"We have approached the Gujarat Maritime Board for a private jetty at Mahuva," said a senior company official.
Ultratech intends to import coal for the proposed power project and send cement to its terminals. From the ash produced from the power plant, the company might also set up a grinding unit for producing portland pozzulino cement.
UltraTech has five integrated plants, five grinding units and three terminals — two in India and one in Sri Lanka. Its installed capacity at present is 17 mtpa, of which about 40 per cent is produced in Gujarat.
The two composite plants -- Gujarat Cement Works and Narmada Cement - Jafrabad Works -- have a capacity to produce 5.3 mtpa and 0.4 mtpa respectively. Its two grinding units in Ratnagiri and Magdala have a total capacity of 1.1 mtpa.
The company exports over 2.5 million tonnes per annum. Ambuja Cement and UltraTech together accounted for about 58 per cent of the total cement shipped overseas in FY08.
The recent prohibition on cement export could now prompt these players to look mainly to the domestic markets for liquidating their output. This may add significantly to supply in markets such as Gujarat and Maharashtra.
UltraTech recently launched UltraTech Building Solutions Retail stores in Surat, Rajkot, Gurgaon & Trichy. The company plans to roll-out close to 200 such stores across the country by the end of this calendar year.
Maulik Pathak / Mumbai/ Ahmedabad April 17, 2008
To set up cement plant and a 60-Mw power project.
UltraTech Cement, an Aditya Birla group company, is setting up a greenfield project at Mahuva in Bhavnagar district of Gujarat at an investment of Rs 3,000 crore.
UltraTech Cement, an Aditya Birla group company, is setting up a greenfield project at Mahuva in Bhavnagar district of Gujarat at an investment of Rs 3,000 crore.
The company has proposed a cement plant with a capacity to produce 10,000 tonnes per day or about 3.5 million tonnes of cement annually. This apart, it is planning to set up a 60-Mw coal-based power project in the area. It has earmarked about 2,500 acres of land for the project of which 10 per cent has already been acquired, said sources close to the development.
"We have approached the Gujarat Maritime Board for a private jetty at Mahuva," said a senior company official.
Ultratech intends to import coal for the proposed power project and send cement to its terminals. From the ash produced from the power plant, the company might also set up a grinding unit for producing portland pozzulino cement.
UltraTech has five integrated plants, five grinding units and three terminals — two in India and one in Sri Lanka. Its installed capacity at present is 17 mtpa, of which about 40 per cent is produced in Gujarat.
The two composite plants -- Gujarat Cement Works and Narmada Cement - Jafrabad Works -- have a capacity to produce 5.3 mtpa and 0.4 mtpa respectively. Its two grinding units in Ratnagiri and Magdala have a total capacity of 1.1 mtpa.
The company exports over 2.5 million tonnes per annum. Ambuja Cement and UltraTech together accounted for about 58 per cent of the total cement shipped overseas in FY08.
The recent prohibition on cement export could now prompt these players to look mainly to the domestic markets for liquidating their output. This may add significantly to supply in markets such as Gujarat and Maharashtra.
UltraTech recently launched UltraTech Building Solutions Retail stores in Surat, Rajkot, Gurgaon & Trichy. The company plans to roll-out close to 200 such stores across the country by the end of this calendar year.
Lanco`s MP power plant will come up in Balaghat:
Shashikant Trivedi / New Delhi/ Bhopal April 18, 2008
Lanco Infratech Ltd has now proposed to set up its 1,200 Mw power project in Balaghat and not in Chhindwara.
The company inked a deal with the Madhya Pradesh government on January 17 at Khajuraho for the project (1,200 Mw plus or minus 200 Mw). The firm dropped the idea of setting up its unit in Chhindwara because it had not been allocated coal blocks.
The company will invest Rs 5,000 crore in the project. It has been given “in principle” sanction for land acquisition and water supply.
A state power department source told Business Standard: “The project will now come up in Balaghat.” The company had asked the Centre for supply from the Mandla North coal block in the Pench Kanhan coal-mining area.
However, a state government’s supplementary recommendation to the JP group watered down the company’s plan to get coal from the Chhindwara mines.
“Lanco has asked for coal and environment clearance, and has been given ‘in principle’ sanction for land acquisition and water supply. We hope the firm is able to announce its schedule soon,” the source said.
Business Standard
Shashikant Trivedi / New Delhi/ Bhopal April 18, 2008
Lanco Infratech Ltd has now proposed to set up its 1,200 Mw power project in Balaghat and not in Chhindwara.
The company inked a deal with the Madhya Pradesh government on January 17 at Khajuraho for the project (1,200 Mw plus or minus 200 Mw). The firm dropped the idea of setting up its unit in Chhindwara because it had not been allocated coal blocks.
The company will invest Rs 5,000 crore in the project. It has been given “in principle” sanction for land acquisition and water supply.
A state power department source told Business Standard: “The project will now come up in Balaghat.” The company had asked the Centre for supply from the Mandla North coal block in the Pench Kanhan coal-mining area.
However, a state government’s supplementary recommendation to the JP group watered down the company’s plan to get coal from the Chhindwara mines.
“Lanco has asked for coal and environment clearance, and has been given ‘in principle’ sanction for land acquisition and water supply. We hope the firm is able to announce its schedule soon,” the source said.
Business Standard
Kohinoor group plans hospitality institute in Guj:
Archana Mohan / Mumbai/ Ahmedabad April 18, 2008
Kohinoor-IMI School of Hospitality Management could soon make its foray into Gujarat with a social touch.
The Khandala-based institute, which offers bachelor and master programmes in hospitality management, has submitted a proposal to the Gujarat government for setting up a 'Kohinoor Short-term Training Institute' for families of saltpan workers.
Kohinoor has proposed a facility to train youngsters from saltpan worker families who are looking for career opportunities outside salt making. The institute is planning to set up its own facility either in Ahmedabad or Rajkot, which could train 30 students every two months.
“We are in talks with the Gujarat government to offer alternative employment opportunities to the kin of saltpan workers. We will be designing short-term courses in food preparation and services in the hospitality industry,” said Prabhat Ghosh, admission co-ordinator, Kohinoor-IMI School of Hospitality Management.
The fee is likely to be close to Rs 10,000, and would be waived partly for students through the state government assistance. Ghosh said the institute would provide placement to each student through tie ups with hospitality majors across the state.
“There is a major shortage of trained personnel in the hospitality industry in the state and we will collaborate with hotels across the state to offer employment to these students,” said Ghosh. If the approval comes through, the institute is expected to start functioning from July 2008.
Kohinoor already has a similar institutes in Indore and is looking at a short-term institute in each state.
It also plans to set up of two more campuses in the Northeast, mostly at Shillong or Guwahati and one at Punjab in the next two years.
The investment into the new campuses is expected to be close to Rs 40 crore, which will be funded through internal accruals. The institute is a part of the Kohinoor Group, which has business interests in education, hospitality, real estate and power.
The campus at Khandala, which runs a BBA and an MBA programme in hospitality management, has close to 120 students and the one at Indore, which offers a BBA programme, has 70 students. Nearly 20 per cent of the institute's students are not foreign citizens.
Archana Mohan / Mumbai/ Ahmedabad April 18, 2008
Kohinoor-IMI School of Hospitality Management could soon make its foray into Gujarat with a social touch.
The Khandala-based institute, which offers bachelor and master programmes in hospitality management, has submitted a proposal to the Gujarat government for setting up a 'Kohinoor Short-term Training Institute' for families of saltpan workers.
Kohinoor has proposed a facility to train youngsters from saltpan worker families who are looking for career opportunities outside salt making. The institute is planning to set up its own facility either in Ahmedabad or Rajkot, which could train 30 students every two months.
“We are in talks with the Gujarat government to offer alternative employment opportunities to the kin of saltpan workers. We will be designing short-term courses in food preparation and services in the hospitality industry,” said Prabhat Ghosh, admission co-ordinator, Kohinoor-IMI School of Hospitality Management.
The fee is likely to be close to Rs 10,000, and would be waived partly for students through the state government assistance. Ghosh said the institute would provide placement to each student through tie ups with hospitality majors across the state.
“There is a major shortage of trained personnel in the hospitality industry in the state and we will collaborate with hotels across the state to offer employment to these students,” said Ghosh. If the approval comes through, the institute is expected to start functioning from July 2008.
Kohinoor already has a similar institutes in Indore and is looking at a short-term institute in each state.
It also plans to set up of two more campuses in the Northeast, mostly at Shillong or Guwahati and one at Punjab in the next two years.
The investment into the new campuses is expected to be close to Rs 40 crore, which will be funded through internal accruals. The institute is a part of the Kohinoor Group, which has business interests in education, hospitality, real estate and power.
The campus at Khandala, which runs a BBA and an MBA programme in hospitality management, has close to 120 students and the one at Indore, which offers a BBA programme, has 70 students. Nearly 20 per cent of the institute's students are not foreign citizens.
Euro Group plans Rs 1,100 cr unit in MP
BS Reporter / Mumbai April 18, 2008
Euro Group, one of the largest vitrified tiles manufacturers in India, has signed an MoU with the Madhya Pradesh government to set up a Rs 1,100-crore 2 million tonnes pelletisation project for conversion of low grade iron ore into high grade.
The public-private partnership project is expected to be completed by 2011. The project will be funded by internal accruals and debt. Low grade iron ore is unutilised in India and requires benefication and the pelletisation technology to convert into high grade.
Euro Group has interests in vitrified tiles, aluminium extruded sections, aluminium composite panels, agglomerated marble, plywood, veneer, laminate, dry battery cell and compact discs.
Source: Business Standard
BS Reporter / Mumbai April 18, 2008
Euro Group, one of the largest vitrified tiles manufacturers in India, has signed an MoU with the Madhya Pradesh government to set up a Rs 1,100-crore 2 million tonnes pelletisation project for conversion of low grade iron ore into high grade.
The public-private partnership project is expected to be completed by 2011. The project will be funded by internal accruals and debt. Low grade iron ore is unutilised in India and requires benefication and the pelletisation technology to convert into high grade.
Euro Group has interests in vitrified tiles, aluminium extruded sections, aluminium composite panels, agglomerated marble, plywood, veneer, laminate, dry battery cell and compact discs.
Source: Business Standard
SIRO buys out German clinical R&D firm:
BS Reporter / Mumbai April 18, 2008
SIRO Clinpharm (SIRO), one of India’s leading clinical research organisations (CRO), has signed an agreement to acquire Germany-based Omega Mediation Group, a leading mid-sized European CRO, for an undisclosed amount in an all-cash deal.
The acquisition will provide SIRO with operational capabilities in Germany, Greece, Estonia, the Baltic states and Israel, besides access to Omega’s major European pharmaceutical and biotech clients.
Omega will continue to function independently and the promoters and the current management will continue, said Chetan Tamhankar, chief operating officer of SIRO Clinpharm, at a press meet in Mumbai today.
“The combined entities of SIRO and Omega will have a turnover of over Rs 200 crore,” said Tamhankar.
The Indian firm was also looking at acquisitions or greenfield projects in the emerging CRO markets of southeast Asian such as Malaysia, the Philippines and Thailand, he added.
The global clinical trial industry is estimated at about $15 billion (Rs 60,000 crore) and the domestic CRO industry is estimated to have a turnover of $300-350 million (Rs 1,200-1,400 crore) with over 100 players. The CRO industry in India is projected to grow to $2 billion (Rs 8,000 crore) by 2010.
In early July 2007, SIRO had acquired Global Client Partners (GCP), a US-based CRO with client network among the US biotech and pharma companies.
Set up in 1992, Omega employs over 100 professionals and have offices in Offenbach in Germany, Athens, Talinn, Estonia and Tel Aviv.
Established in 1996, SIRO is one of the first CRO’s in India and employs over 400 professionals with offices in Mumbai and Princeton, New Jersey. The company has so far done over 150 clinical projects of various pharmaceutical companies.
The family of Gautam Daftary (chairman of SIRO Clinpharm), Kotak Private Equity and 3i Capital are the major promoters of SIRO Clinpharm.
Business Stadard
Ice-cream makers add healthy flavours:
Suvi Dogra / New Delhi April 18, 2008
After slugging it out in the health and wellness snacks and beverage categories, FMCG companies are gearing up to out do each other in ice creams.
All major players in the Rs 1,200-crore ice cream market are all set to adorn a health-oriented look this year by offering more such products.
Amul, the market leader in the ice cream space, has already launched probiotic health and wellness ice creams and is also offering sugar free variants.
“We are switching to natural vanilla flavouring apart from adding new variants to our wellness ice creams to add to our health and wellness initiative this year,” says R Sodhi, chief general manger, Gujarat Cooperative Milk Marketing Federation.
Mother Dairy, a subsidiary of the National Dairy Development Board, has decided to expand its naturally flavoured offerings along with new packaging. “Innovation is the key to growth in this segment,” says Paul Thachil, CEO, Mother Dairy India.
The company expects better sales this summer as it is expanding business to cities like Mumbai, Hyderabad, Bangalore and in north India.
The company is looking at adding more natural flavours to its portfolio. The company is also betting big on fruit juice bars to cater to the growing number of conscious consumers.
Last year, FMCG major Hindustan Unilever introduced Moo ice cream under the health and wellness umbrella. Moo, a combination of chocolate and vanilla, is targetted at children and mothers because of its health credentials - each stick has calcium equivalent to one glass of milk.
“We will continue to drive market development and growth through exciting innovations and consumer promotions. For the summer season, we have several exciting plans and activities to target key consumer groups – kids/teens and families,” says Sailesh Venkatesan, category head ( ice cream business), HUL.
HUL has 9 per cent market share in the Rs 1,200 crore ice-cream segment while Amul enjoys 37 per cent share. While HUL has focussed on cities and impulse products like Cornetto, Amul offers a bigger portfolio that helped it penetrate the rural market aggressively.
Aavin, a Tamil Nadu-based cooperative sector milk and dairy products marketer, has also launched a low-sugar variant of ice creams.
The ice cream ‘without added sugar’ is ideal for diabetics and safe for children and mothers-to-be, claims the company. The variant is said to have just 80 calories and has 16 mg of sweetener against 8,000 mg of sugar in conventional ice creams.
Business Standard
Samay seeks Japanese ally for tie-up:
Khyati Joshi / Rajkot April 18, 2008
Clock-maker Samay, based in Morbi, Gujarat, is in talks with Japanese players Citizen, Rhythm and Sieko for possible tie-ups. If all goes well, Samay will forge an alliance with one of these watch-makers and ramp up production of wrist watches, alarm clocks and wall clocks.
Samay group, the cross-town rivals of Ajanta group have followed a similar growth chart—from clocks to CFL and even snackfood business.
Having made a mark in the alarm and wall clock segments in India, Samay now wants to expand its presence globally. Manubhai Patel, director, Samay Group, said, “We are in talks with Japanese watch majors Citizen, Sieko and Rhythm. We may form joint ventures with them.”
Though negotiations are at initial stages, Patel said he may be able to make an announcement in a few months’ time.
He added that Samay Group’s manufacturing capacity is 30,000 units per day. Owing to competition from Chinese companies, the demand for alarm and wall clocks has dipped.
At present, the company is producing 11,000 to 12,000 watches a day. They plan to expand the capacity, Patel said. All three Japanese companies are world-class players.
Rhythm Watch Company, established in Japan in 1950, manufactures wrist watches in Hong Kong and USA. Citizen, which was started in 1918, has a manufacturing unit at Bangalore, while Sieko has been manufacturing wrist watches since 1913.
However, Patel informed Business Standard that they are ready to join hands with the watch majors only if it doesn’t harm the brand.
The company wants to produce wrist watches on a large scale but the Samay brand must share equal status with these international brands, he said.
What stared off with an initial production of 20,000 quartz clocks and 10,000 timepieces has reached a level of 30,000 quartz clocks, 20,000 timepieces, 10,000 telephones and 10,000 calculators per day.
Business stadard
Khyati Joshi / Rajkot April 18, 2008
Clock-maker Samay, based in Morbi, Gujarat, is in talks with Japanese players Citizen, Rhythm and Sieko for possible tie-ups. If all goes well, Samay will forge an alliance with one of these watch-makers and ramp up production of wrist watches, alarm clocks and wall clocks.
Samay group, the cross-town rivals of Ajanta group have followed a similar growth chart—from clocks to CFL and even snackfood business.
Having made a mark in the alarm and wall clock segments in India, Samay now wants to expand its presence globally. Manubhai Patel, director, Samay Group, said, “We are in talks with Japanese watch majors Citizen, Sieko and Rhythm. We may form joint ventures with them.”
Though negotiations are at initial stages, Patel said he may be able to make an announcement in a few months’ time.
He added that Samay Group’s manufacturing capacity is 30,000 units per day. Owing to competition from Chinese companies, the demand for alarm and wall clocks has dipped.
At present, the company is producing 11,000 to 12,000 watches a day. They plan to expand the capacity, Patel said. All three Japanese companies are world-class players.
Rhythm Watch Company, established in Japan in 1950, manufactures wrist watches in Hong Kong and USA. Citizen, which was started in 1918, has a manufacturing unit at Bangalore, while Sieko has been manufacturing wrist watches since 1913.
However, Patel informed Business Standard that they are ready to join hands with the watch majors only if it doesn’t harm the brand.
The company wants to produce wrist watches on a large scale but the Samay brand must share equal status with these international brands, he said.
What stared off with an initial production of 20,000 quartz clocks and 10,000 timepieces has reached a level of 30,000 quartz clocks, 20,000 timepieces, 10,000 telephones and 10,000 calculators per day.
Business stadard
Thursday, April 3, 2008
Chennai, April 9 Anand group, the $640 million automotive components and systems major, is looking at setting up at least four new greenfield facilities in Chennai to support the requirements of its prospective customers. The Delhi headquartered group is in talks with two joint ventures of Nissan-Renault and Ashok Leyland for manufacturing exhaust systems for passenger cars and LCVs, respectively.
Once the deals are through, the group would be setting up four facilities in Chennai before 2010, said Mr C. S. Patel, Chief Executive Officer, Anand Automotive Systems. This would make Chennai as the largest revenue generating hub for Anand Group, he said. ETI’s New facility
Mr Patel was addressing the media during the inauguration of a manufacturing facility of a group company, Emcon Technologies India Private Ltd (ETI), which is a 74:26 joint venture between the US-based Emcon Technologies and the Anand group.
ETI has so far invested $4 million including $2.5 million invested in the new plant in Maraimalainagar, inaugurated on Monday. The CEO of $4 billion Emcon Technologies, Mr Lee Gardner, said ETI would further infuse $10 million for capacity expansion and creation of new facilities. Other than a factory in Chennai, the company has a manufacturing unit in Bangalore.
It is currently constructing a new facility in Singur to supply exhaust system for the Tata Nano car. ETI is mulling options to set up a greenfield facility in Pune, where some of ETI’s customers, such as International Truck and Volkswagen, are putting up their own manufacturing facilities.
Once the deals are through, the group would be setting up four facilities in Chennai before 2010, said Mr C. S. Patel, Chief Executive Officer, Anand Automotive Systems. This would make Chennai as the largest revenue generating hub for Anand Group, he said. ETI’s New facility
Mr Patel was addressing the media during the inauguration of a manufacturing facility of a group company, Emcon Technologies India Private Ltd (ETI), which is a 74:26 joint venture between the US-based Emcon Technologies and the Anand group.
ETI has so far invested $4 million including $2.5 million invested in the new plant in Maraimalainagar, inaugurated on Monday. The CEO of $4 billion Emcon Technologies, Mr Lee Gardner, said ETI would further infuse $10 million for capacity expansion and creation of new facilities. Other than a factory in Chennai, the company has a manufacturing unit in Bangalore.
It is currently constructing a new facility in Singur to supply exhaust system for the Tata Nano car. ETI is mulling options to set up a greenfield facility in Pune, where some of ETI’s customers, such as International Truck and Volkswagen, are putting up their own manufacturing facilities.
Sanmar buys US firm Matrix Metals:
The Chennai-based company says the acquisition will create one of the largest speciality casting groups in the world.
The Sanmar Group, an integrated industrial, shipping and engineering business house, has acquired North American firm Matrix Metals LLC, a portfolio company of Jefferies Capital Partners.
HOT DEAL
MATRIX Metals LLC, which operates one of the largest steel casting businesses in North America, employs over 1,300 people.
THE deal is funded by a bridge facility provided by Bank of India and State Bank of India.
SANMAR Group has a steel casting capacity of 60,000 tonnes and about 50,000 tonnes capacity for premium iron alloy casting.
THE company acquired German alloy castings producer Eisenwerk Erla GmbH last year. Sanmar executives would not disclose details of the acquisition with respect to the cost or share purchase agreement between the two companies.
The company said that the merger will create one of the leading specialty steel casting groups in the world.
The deal, which was announced early today, is the result of a close association between the Sanmar Group, headquartered in Chennai, and Matrix’s NEPCO unit, which has sourced castings from Sanmar for many of Matrix’s important customers over the years.
“Combining Sanmar’s expanding foundry capacity with ours will enable us to meet almost any North American customer’s casting requirements and create new business opportunities across the combined companies,” Roger Courtney, CEO, Matrix, said in a statement.
According to company sources, the transaction has been funded by a bridge facility provided by branches of Bank of India and State Bank of India in New York. The banks will also provide long-term funds, they said.
Following the merger, Sanmar Group Corporate Director B Natraj will relocate to the US and serve as executive vice-chairman of Matrix.
The group’s first priority will be to reinforce Matrix’s sales and marketing efforts in the US and serve a broader range of global customer casting requirements, Natraj said. “We plan to supplement Matrix’s established foundries in Keokuk, Houston and Mexico with our expanded operations in India to meet those needs,” he said.
Matrix Metals employs over 1,300 people and operates one of the largest steel casting businesses in North America.
The $157 million company has foundries in Keokuk, Iowa, Richmond, Texas and San Juan del Rio, Mexico, which focus on castings for flow control, locomotive, mining, farm equipment, heavy construction and oilfield equipment sectors.
Sanmar acquired German alloy castings producer Eisenwerk Erla GmbH in 2007. This, together with a greenfield site in Chennai for iron alloy castings, will offer its major automotive customers a choice of simple and complex iron castings to meet their varied needs.
The group has an annual steel casting capacity of 60,000 tonnes and about 50,000 tonnes of capacity for premium iron alloy casting.
It is investing over $26 million (about Rs 100 crore) to further expand its foundry capacity in India from 10,000 tonnes to 30,000 tonnes a year, by adding three automated lines for sand castings.
The steel foundry business includes an investment foundry with a capacity of 1,200 tonnes and a state-of-the-art machine shop.
As part of its ongoing investment plans, Sanmar Group is setting aside Rs 4,650 crore for capacity expansion, strategic acquisitions and cross-sector organic growth.
April 2, 2008 Business Standard
The Chennai-based company says the acquisition will create one of the largest speciality casting groups in the world.
The Sanmar Group, an integrated industrial, shipping and engineering business house, has acquired North American firm Matrix Metals LLC, a portfolio company of Jefferies Capital Partners.
HOT DEAL
MATRIX Metals LLC, which operates one of the largest steel casting businesses in North America, employs over 1,300 people.
THE deal is funded by a bridge facility provided by Bank of India and State Bank of India.
SANMAR Group has a steel casting capacity of 60,000 tonnes and about 50,000 tonnes capacity for premium iron alloy casting.
THE company acquired German alloy castings producer Eisenwerk Erla GmbH last year. Sanmar executives would not disclose details of the acquisition with respect to the cost or share purchase agreement between the two companies.
The company said that the merger will create one of the leading specialty steel casting groups in the world.
The deal, which was announced early today, is the result of a close association between the Sanmar Group, headquartered in Chennai, and Matrix’s NEPCO unit, which has sourced castings from Sanmar for many of Matrix’s important customers over the years.
“Combining Sanmar’s expanding foundry capacity with ours will enable us to meet almost any North American customer’s casting requirements and create new business opportunities across the combined companies,” Roger Courtney, CEO, Matrix, said in a statement.
According to company sources, the transaction has been funded by a bridge facility provided by branches of Bank of India and State Bank of India in New York. The banks will also provide long-term funds, they said.
Following the merger, Sanmar Group Corporate Director B Natraj will relocate to the US and serve as executive vice-chairman of Matrix.
The group’s first priority will be to reinforce Matrix’s sales and marketing efforts in the US and serve a broader range of global customer casting requirements, Natraj said. “We plan to supplement Matrix’s established foundries in Keokuk, Houston and Mexico with our expanded operations in India to meet those needs,” he said.
Matrix Metals employs over 1,300 people and operates one of the largest steel casting businesses in North America.
The $157 million company has foundries in Keokuk, Iowa, Richmond, Texas and San Juan del Rio, Mexico, which focus on castings for flow control, locomotive, mining, farm equipment, heavy construction and oilfield equipment sectors.
Sanmar acquired German alloy castings producer Eisenwerk Erla GmbH in 2007. This, together with a greenfield site in Chennai for iron alloy castings, will offer its major automotive customers a choice of simple and complex iron castings to meet their varied needs.
The group has an annual steel casting capacity of 60,000 tonnes and about 50,000 tonnes of capacity for premium iron alloy casting.
It is investing over $26 million (about Rs 100 crore) to further expand its foundry capacity in India from 10,000 tonnes to 30,000 tonnes a year, by adding three automated lines for sand castings.
The steel foundry business includes an investment foundry with a capacity of 1,200 tonnes and a state-of-the-art machine shop.
As part of its ongoing investment plans, Sanmar Group is setting aside Rs 4,650 crore for capacity expansion, strategic acquisitions and cross-sector organic growth.
April 2, 2008 Business Standard
Synchron buys French co facility :
Synchron Research Services has acquired the stand-alone bio-analytical and bio-marker facility of Parexel International in France for nearly $ 6.7 million. At the same time, Parexel has increased its stake in Synchron from 19.5% to 31%, according to a company statement here. Synchron, which provides Phase I to IV clinical research services, was set up in 1998
Business Line, 1st April 2008
Synchron Research Services has acquired the stand-alone bio-analytical and bio-marker facility of Parexel International in France for nearly $ 6.7 million. At the same time, Parexel has increased its stake in Synchron from 19.5% to 31%, according to a company statement here. Synchron, which provides Phase I to IV clinical research services, was set up in 1998
Business Line, 1st April 2008
Tata, M&M to invest Rs 7,500cr in Maharashtra:
Maharashtra has signed memorandum of understanding (MoU) with auto majors Tata Motors and Mahindra & Mahindra for investments of Rs 7,500 crore.While Tata Motors will invest Rs 6,000 crore to expand its manufacturing facility in Pune, Mahindra & Mahindra (M&M) will invest an additional Rs 1,500 crore at its upcoming greenfield project at Chakan.Tata Motors will invest Rs 6,000 crore over the next four-five years to expand capacity and set up a vehicle testing facility in Pune. The company will augment its capacity from 400,000 units to 600,000 units. The company is also planning to manufacture its small car, Nano, at Pune.M&M will manufacture medium and heavy commercial vehicles and other products from its Chakan facility. Pawan Goenka, president, automotive sector, M&M, said: "We had decided to make the state the launch pad for our commercial vehicles. The additional investment of Rs 1,500 crore will allow us to create a world-class manufacturing facility for 300,000 vehicles."
Maharashtra has signed memorandum of understanding (MoU) with auto majors Tata Motors and Mahindra & Mahindra for investments of Rs 7,500 crore.While Tata Motors will invest Rs 6,000 crore to expand its manufacturing facility in Pune, Mahindra & Mahindra (M&M) will invest an additional Rs 1,500 crore at its upcoming greenfield project at Chakan.Tata Motors will invest Rs 6,000 crore over the next four-five years to expand capacity and set up a vehicle testing facility in Pune. The company will augment its capacity from 400,000 units to 600,000 units. The company is also planning to manufacture its small car, Nano, at Pune.M&M will manufacture medium and heavy commercial vehicles and other products from its Chakan facility. Pawan Goenka, president, automotive sector, M&M, said: "We had decided to make the state the launch pad for our commercial vehicles. The additional investment of Rs 1,500 crore will allow us to create a world-class manufacturing facility for 300,000 vehicles."
MindTree Consulting is now MindTree:
MindTree Consulting has changed its name to MindTree with immediate effect.
Ashok Soota, chairman and managing director, MindTree, said: "Over the years, MindTree has emerged as one of the fastest growing IT and R&D services providers offering its services across a range of technology and industry domains. The word 'consulting' in our name, however, did not reflect the entire range of services we offer our customers. While MindTree is one of the first companies to offer consulting-led IT services, we are intellectual property-led in our R&D services."
"Our new name, MindTree, also allows us to now offer newer areas of services to our customers across the globe," Soota added.
"MindTree will now become the umbrella name under which future acquisitions can take the forms of divisions or subsidiaries. MindTree will continue to stand for our unique culture, commitment towards high customer satisfaction and our innovative people practices. We will continue to build an organization that has a place among the best in our industry," Soota said.
The Economic Times
MindTree Consulting has changed its name to MindTree with immediate effect.
Ashok Soota, chairman and managing director, MindTree, said: "Over the years, MindTree has emerged as one of the fastest growing IT and R&D services providers offering its services across a range of technology and industry domains. The word 'consulting' in our name, however, did not reflect the entire range of services we offer our customers. While MindTree is one of the first companies to offer consulting-led IT services, we are intellectual property-led in our R&D services."
"Our new name, MindTree, also allows us to now offer newer areas of services to our customers across the globe," Soota added.
"MindTree will now become the umbrella name under which future acquisitions can take the forms of divisions or subsidiaries. MindTree will continue to stand for our unique culture, commitment towards high customer satisfaction and our innovative people practices. We will continue to build an organization that has a place among the best in our industry," Soota said.
The Economic Times
Wednesday, March 26, 2008
Nigeria invites Indian firms to invest in power sector :
KOLKATA: Nigeria has invited Indian companies to invest in its power sector in which domestic firms NTPC and Essar have evinced interest in return for oil and gas blocks in the African country. "We are seeking investment in the power sector from Indian companies. Essar and NTPC have expressed interest in taking crude and gas blocks and in turn to invest in power sector," Nigerian Investment Promotion Commission CEO Mustafa Bello said here on Wednesday. He was speaking on the sidelines of the second CII-Nigeria-India business and investment forum, leading a trade delegation to Kolkata. Essar had sought crude blocks while NTPC had sought LNG from Nigeria and both had made presentations to the government sometime back. "If Essar and NTPC take oil or gas blocks, they would invest in power sector," Bello said. Nigeria currently produces 4,000 MW of power and aims to touch 10,000 MW in near future. He, however, failed to clarify if NTPC and Essar will get any preference in the bidding process for oil and gas blocks in return for investment in the power sector by them. Speaking about the interest from other Indian groups, Bello said Tatas are opening an office in Nigeria and planning a greenfield luxury hotel. "Tatas are opening an office at a cost of around five million dollars," Bello said. Hinduja group's Ashok Leyland which had expressed interest earlier had backed out, the commission's CEO said. The total trade between Indian and Nigeria was estimated at $79,224.22 million in 2006-07.
26 Mar, 2008, The Economic Times
KOLKATA: Nigeria has invited Indian companies to invest in its power sector in which domestic firms NTPC and Essar have evinced interest in return for oil and gas blocks in the African country. "We are seeking investment in the power sector from Indian companies. Essar and NTPC have expressed interest in taking crude and gas blocks and in turn to invest in power sector," Nigerian Investment Promotion Commission CEO Mustafa Bello said here on Wednesday. He was speaking on the sidelines of the second CII-Nigeria-India business and investment forum, leading a trade delegation to Kolkata. Essar had sought crude blocks while NTPC had sought LNG from Nigeria and both had made presentations to the government sometime back. "If Essar and NTPC take oil or gas blocks, they would invest in power sector," Bello said. Nigeria currently produces 4,000 MW of power and aims to touch 10,000 MW in near future. He, however, failed to clarify if NTPC and Essar will get any preference in the bidding process for oil and gas blocks in return for investment in the power sector by them. Speaking about the interest from other Indian groups, Bello said Tatas are opening an office in Nigeria and planning a greenfield luxury hotel. "Tatas are opening an office at a cost of around five million dollars," Bello said. Hinduja group's Ashok Leyland which had expressed interest earlier had backed out, the commission's CEO said. The total trade between Indian and Nigeria was estimated at $79,224.22 million in 2006-07.
26 Mar, 2008, The Economic Times
Brazil invites Indian firms to invest in cane farming:
Brazil, the world’s largest ethanol producer, has thrown open its doors to investment by Indian companies in sugarcane farming, extracting ethanol and exporting it back home for mixing in petrol.
“Yes, yes sure. They can buy ethanol manufacturing companies, invest in cane farming and producing ethanol,” visiting Brazalian Minister of State for Industry and Foreign Trade Miguel Jorge told reporters after meeting Oil Minister Murli Deora here today.
While India dopes petrol with five per cent ethanol to cut its oil import dependence, petrol is Brazil is made up of one-fourth ethanol.
Brazil, he said, was encouraging India to raise the percentage of ethanol in petrol and would allow companies investing in ethanol production in Brazil to export the green fuel back home.
Deora said the government plans to double ethanol quantity in petrol to 10 per cent from October.
State-run fuel retailers are already talking to various companies in Brazil for cane farming and ethanol production at an investment of close to $600 million.
Indian Oil, Hindustan Petroleum and Bharat Petroleum will form a joint venture to take up ethanol production in Brazil. They together will have a 50 per cent stake in the joint venture, while a local Brazilian firm will have the remaining.
The partner search exercise conducted by the local consultant The Jai Group has identified four companies, including large integrated groups Louis Dreyfus Commodities Bioenergia (LDCB) and Infinity. The other companies identified are Rezek and Goiasa.
The initial ethanol production capacity being targeted is 500 million litres
Business Standard
27th March 2008
Brazil, the world’s largest ethanol producer, has thrown open its doors to investment by Indian companies in sugarcane farming, extracting ethanol and exporting it back home for mixing in petrol.
“Yes, yes sure. They can buy ethanol manufacturing companies, invest in cane farming and producing ethanol,” visiting Brazalian Minister of State for Industry and Foreign Trade Miguel Jorge told reporters after meeting Oil Minister Murli Deora here today.
While India dopes petrol with five per cent ethanol to cut its oil import dependence, petrol is Brazil is made up of one-fourth ethanol.
Brazil, he said, was encouraging India to raise the percentage of ethanol in petrol and would allow companies investing in ethanol production in Brazil to export the green fuel back home.
Deora said the government plans to double ethanol quantity in petrol to 10 per cent from October.
State-run fuel retailers are already talking to various companies in Brazil for cane farming and ethanol production at an investment of close to $600 million.
Indian Oil, Hindustan Petroleum and Bharat Petroleum will form a joint venture to take up ethanol production in Brazil. They together will have a 50 per cent stake in the joint venture, while a local Brazilian firm will have the remaining.
The partner search exercise conducted by the local consultant The Jai Group has identified four companies, including large integrated groups Louis Dreyfus Commodities Bioenergia (LDCB) and Infinity. The other companies identified are Rezek and Goiasa.
The initial ethanol production capacity being targeted is 500 million litres
Business Standard
27th March 2008
Bangalore Book Sellers List
Bangalore Book Sellers:
Ameya Law Agency, 1 Amar Towers Ist Cross, Gandhi Nagar, Bangalore 560009 Ph 22281221
Computer Bookshop B1, 1st Fl, Jyoti Complex, 134/1, Infantry Rd, Bangalore 560001 Ph 22862860
Fountainhead 41 Lavelle Rd, Bangalore 560001 Ph 22219777
Gangaram Book Bureau, 72 MG Road, Bangalore 560001 Ph 25586189
Higginbothams 68 MG Rd Bangalore 560001 Ph 25586574
Medical Book Company Lakshmi Comp, Opp. Vanivilas Hospital KR Rd, Bangalore 560002 Ph 26707525
Nagashri Bookhouse 33, East Blk Shopping Complex, 4 th Blk, Jayanagar, Bangalore 560011 Ph 26630993
Nalanda Book Stores 37 Markham Rd, Bangalore 560025 Ph 25510307
Orient Longman 46/47 Banashankari III Stage, Bangalore 560085 Ph 26690258
Premier Bookshop 46/1 Church St, Bangalore 560001 Ph 25588570
Puliani & Puliani Ground Fl, Sujata Complex Ist Cross Gandhinagar, Bangalore 560009 Ph 22265500
Pustak Mahal 22/2 Mission Rd, Bangalore 560027 Ph 22234025
Sapna Book House Opp. Tribhuvan Theatre, Bangalore 560009 Ph 2226088
Select Book Shop 77 Brigade Road Cross, Bangalore 560001 Ph 25580770
Sri Venkateswara Bookstall 2940/B, MKK Rd Rajaji Nagar, Bangalore 560010 Ph 23421316
Strand Book Stall S113-114, Manipal Centre, Dickenson Rd, Bangalore 560042 Ph 25580000
Subhash Stores 72 Avenue Rd, Bangalore 560002 Ph 22216624
The Book Cellar 71 MG Rd, Bangalore 560001 Ph 25588816
Theological Book Trust 54-MIG 5th Blk Koramangala, Bangalore 560095 Ph 25531154
Vedanta Book House Near Uma Theatre, Chamrajpet, Bangalore 560018 Ph 26747590
Ameya Law Agency, 1 Amar Towers Ist Cross, Gandhi Nagar, Bangalore 560009 Ph 22281221
Computer Bookshop B1, 1st Fl, Jyoti Complex, 134/1, Infantry Rd, Bangalore 560001 Ph 22862860
Fountainhead 41 Lavelle Rd, Bangalore 560001 Ph 22219777
Gangaram Book Bureau, 72 MG Road, Bangalore 560001 Ph 25586189
Higginbothams 68 MG Rd Bangalore 560001 Ph 25586574
Medical Book Company Lakshmi Comp, Opp. Vanivilas Hospital KR Rd, Bangalore 560002 Ph 26707525
Nagashri Bookhouse 33, East Blk Shopping Complex, 4 th Blk, Jayanagar, Bangalore 560011 Ph 26630993
Nalanda Book Stores 37 Markham Rd, Bangalore 560025 Ph 25510307
Orient Longman 46/47 Banashankari III Stage, Bangalore 560085 Ph 26690258
Premier Bookshop 46/1 Church St, Bangalore 560001 Ph 25588570
Puliani & Puliani Ground Fl, Sujata Complex Ist Cross Gandhinagar, Bangalore 560009 Ph 22265500
Pustak Mahal 22/2 Mission Rd, Bangalore 560027 Ph 22234025
Sapna Book House Opp. Tribhuvan Theatre, Bangalore 560009 Ph 2226088
Select Book Shop 77 Brigade Road Cross, Bangalore 560001 Ph 25580770
Sri Venkateswara Bookstall 2940/B, MKK Rd Rajaji Nagar, Bangalore 560010 Ph 23421316
Strand Book Stall S113-114, Manipal Centre, Dickenson Rd, Bangalore 560042 Ph 25580000
Subhash Stores 72 Avenue Rd, Bangalore 560002 Ph 22216624
The Book Cellar 71 MG Rd, Bangalore 560001 Ph 25588816
Theological Book Trust 54-MIG 5th Blk Koramangala, Bangalore 560095 Ph 25531154
Vedanta Book House Near Uma Theatre, Chamrajpet, Bangalore 560018 Ph 26747590
KS Oils buys palm plantation in Indonesia:
Mumbai, March 26 KS Oils, an integrated edible oil company, has acquired 50,000 acres of palm plantation in Indonesia with an investment of Rs 230 crore. The investment, spread over three years, will be routed through its wholly owned subsidiary in Singapore.
Mr Ramesh Chand Garg, Chairman, KS Oils, said, “With spiralling commodity and raw material prices, owning a raw material source is the right strategy to de-risk in the long term. This is another important step in our global ambitions.”
The plantation is expected to yield palm oil of about 80,000 tonnes annually, which is about 2.3 per cent of India’s current imports of 3.6 million tonnes per annum.Integrated player
KS Oils is the first Indian company which has invested in palm plantations in Indonesia. The palm oil will be transported to the various manufacturing plants of the company in India. Through the acquisition the company is shaping its strategy of an integrated agriculture player through backward and forward integration in the entire value chain, the company said. The investment will reduce the raw material costs significantly.
The company has set up operations there and the plantation will be developed over next three years. The investments will ensure best agricultural practices with the focus on scientific methods of plantation to increase productivity and yield.
Recently, the Indian government reduced the import duty on crude palm oil to 20 per cent from 45 per cent, while that on refined palm oil was trimmed to 27.5 per cent from 52.5 per cent to help curb inflation.
With the reduction in excise duty, India’s imports of palm oil are likely to increase from the earlier market estimate of 4.3 million tonnes.
“We think palm oil will now constitute more than 60 per cent of total edible oil imports,” said an analyst.
Business Line,
27th March 2008
Mumbai, March 26 KS Oils, an integrated edible oil company, has acquired 50,000 acres of palm plantation in Indonesia with an investment of Rs 230 crore. The investment, spread over three years, will be routed through its wholly owned subsidiary in Singapore.
Mr Ramesh Chand Garg, Chairman, KS Oils, said, “With spiralling commodity and raw material prices, owning a raw material source is the right strategy to de-risk in the long term. This is another important step in our global ambitions.”
The plantation is expected to yield palm oil of about 80,000 tonnes annually, which is about 2.3 per cent of India’s current imports of 3.6 million tonnes per annum.Integrated player
KS Oils is the first Indian company which has invested in palm plantations in Indonesia. The palm oil will be transported to the various manufacturing plants of the company in India. Through the acquisition the company is shaping its strategy of an integrated agriculture player through backward and forward integration in the entire value chain, the company said. The investment will reduce the raw material costs significantly.
The company has set up operations there and the plantation will be developed over next three years. The investments will ensure best agricultural practices with the focus on scientific methods of plantation to increase productivity and yield.
Recently, the Indian government reduced the import duty on crude palm oil to 20 per cent from 45 per cent, while that on refined palm oil was trimmed to 27.5 per cent from 52.5 per cent to help curb inflation.
With the reduction in excise duty, India’s imports of palm oil are likely to increase from the earlier market estimate of 4.3 million tonnes.
“We think palm oil will now constitute more than 60 per cent of total edible oil imports,” said an analyst.
Business Line,
27th March 2008
Cessna Technologies Pvt Ltd
#63, Rashtrakavi Kuvempu Road, Vidyaranyapura, Bengalure 560097
Phone: 23645882/3
www.cessnatech.com
Engineering Service Company in the field of Automotive, Mechanical, Structural, Construction & Energy domains backed up with a decade experience in manufacturing equipment for process industry and delivering turnkey solutions.
Ascent, The Times of India
26th March 2008
#63, Rashtrakavi Kuvempu Road, Vidyaranyapura, Bengalure 560097
Phone: 23645882/3
www.cessnatech.com
Engineering Service Company in the field of Automotive, Mechanical, Structural, Construction & Energy domains backed up with a decade experience in manufacturing equipment for process industry and delivering turnkey solutions.
Ascent, The Times of India
26th March 2008
Apeejay Education Society
Apeejay Stya House 14, Commercial Complex, Masjid Moth, Greater Kailash-II, New Delhi 110048
Phone: 011-29228296/97/98
www.apeejay.educ, aes@apeejay.edu
Dr. Stya Paul, President,
Ascent, The Times of India,
26th March 2008
Srinivas Institute of Technology
GHS Road, Mangalore 575001
Phone 0824-2425966 / 2421566 / 4268494
srinivasgroup@rediffmail.com, www.srinivasgroup.com
Ascent, The Times of India,
26th March 2008
GHS Road, Mangalore 575001
Phone 0824-2425966 / 2421566 / 4268494
srinivasgroup@rediffmail.com, www.srinivasgroup.com
Ascent, The Times of India,
26th March 2008
Simon India Ltd
Devika Tower, 6, Nehru Place, New Delhi 110019.
Simon India Ltd (SIL) is a design, engineering, consulting and EPC Company located in Delhi focussed on Chemical Process Industries, Power projects, pipeline projects, fertilizer projects etc. SIL belongs to the Zuari-Chambal-PPL Group of industries from the House of K K Birla.
SIL has a branch office in Saudi Arabia and a joint venture Engineering Company in Muscat, Oman.
SIL is executing several prestigious projects in India and overseas.
www.simonindia.in
Ascent, The Times of India
26th march 2008
Devika Tower, 6, Nehru Place, New Delhi 110019.
Simon India Ltd (SIL) is a design, engineering, consulting and EPC Company located in Delhi focussed on Chemical Process Industries, Power projects, pipeline projects, fertilizer projects etc. SIL belongs to the Zuari-Chambal-PPL Group of industries from the House of K K Birla.
SIL has a branch office in Saudi Arabia and a joint venture Engineering Company in Muscat, Oman.
SIL is executing several prestigious projects in India and overseas.
www.simonindia.in
Ascent, The Times of India
26th march 2008
Innova Life Sciences Pvt Ltd, focusing on innovation and technological superiority of products is launching rDNA human insulin, insulin delivery systems, rhgh, EOP, interferon, GCSF latest antibiotics, obesity products and oha’s through endocrine div, oncology div and institution div.
admin@innovalife.in
Ascent, Times of India
26th March 2008
admin@innovalife.in
Ascent, Times of India
26th March 2008
Energy Infratech is a team of engineering and management professionals, providing services for Design, Construction and Execution of energy infrastructure, with a focus on power generation projects. With project locations all over India. Energy Infratech;s Thermal Division operates out of Hyderabad and the Hydro Division out of Gurgaon.
The company’s team of over 350 engineering and management professionals are engaged in developing major hydro power projects located in the states of Sikkim, Arunachal Pradesh, Meghalaya and Himachal Pradesh, thermal projects in Andhra Pradesh & Chhattisgarh and a wind farm project in Gujarat.
Energy Infratech Pvt Ltd
15, NBCC Tower, IInd Floor, Bhikaji Cama Place, New Delhi 110066.
http://www.energyinfratech.com/
Times of India, Ascent
26th March 2008
The company’s team of over 350 engineering and management professionals are engaged in developing major hydro power projects located in the states of Sikkim, Arunachal Pradesh, Meghalaya and Himachal Pradesh, thermal projects in Andhra Pradesh & Chhattisgarh and a wind farm project in Gujarat.
Energy Infratech Pvt Ltd
15, NBCC Tower, IInd Floor, Bhikaji Cama Place, New Delhi 110066.
http://www.energyinfratech.com/
Times of India, Ascent
26th March 2008
Shriram Properties to invest Rs 500 crore in affordable housing plan:
BANGALORE: Real estate firm Shriram Properties (SPL) is set to hop onto the affordable housing bandwagon. The Bangalore-based firm proposes to invest over Rs 500 crore into mid-income housing projects that it will develop across India over the next 2-3 years. The first of these projects will be located off GST Road in Chennai at an investment of Rs 100 crore. “We see a huge demand for affordable housing in India, more so in tier-I cities. In a rapidly growing economy like ours, the services and ancillary industries employ thousands of executives. Not everyone can afford a home in the Rs 40-60-lakh bracket. We expect to sell apartments in the sub-Rs 30 lakh category,” said Shriram Properties managing director M Murali. The first project will see the company develop 2.2 million sq ft on a 35-acre plot-this includes 1,700 residential units priced between Rs 18-23 lakh. SPL will replicate this model across the country, picking up a 35-50 acre parcel for each of its projects. According to Mr Murali, the company is close to acquiring a second patch of land in Chennai for a similar project, while advance negotiations are underway for land parcels in Bangalore (near Devanahalli), Mangalore, Coimbatore, Madurai and Kolkata. A major source of funding for each will be through pre-sales, which would account for about 80% of the required funds. This apart, SPL’s upcoming ventures will also be backed by US-based realty investment major Walton Street Capital - the firm picked up a stake in SPL, at the enterprise level, last October.
13 Mar, 2008
BANGALORE: Real estate firm Shriram Properties (SPL) is set to hop onto the affordable housing bandwagon. The Bangalore-based firm proposes to invest over Rs 500 crore into mid-income housing projects that it will develop across India over the next 2-3 years. The first of these projects will be located off GST Road in Chennai at an investment of Rs 100 crore. “We see a huge demand for affordable housing in India, more so in tier-I cities. In a rapidly growing economy like ours, the services and ancillary industries employ thousands of executives. Not everyone can afford a home in the Rs 40-60-lakh bracket. We expect to sell apartments in the sub-Rs 30 lakh category,” said Shriram Properties managing director M Murali. The first project will see the company develop 2.2 million sq ft on a 35-acre plot-this includes 1,700 residential units priced between Rs 18-23 lakh. SPL will replicate this model across the country, picking up a 35-50 acre parcel for each of its projects. According to Mr Murali, the company is close to acquiring a second patch of land in Chennai for a similar project, while advance negotiations are underway for land parcels in Bangalore (near Devanahalli), Mangalore, Coimbatore, Madurai and Kolkata. A major source of funding for each will be through pre-sales, which would account for about 80% of the required funds. This apart, SPL’s upcoming ventures will also be backed by US-based realty investment major Walton Street Capital - the firm picked up a stake in SPL, at the enterprise level, last October.
13 Mar, 2008
Cobra Beer earmarks $80 m for expansion :
Bindu D. Menon
New Delhi, March 25 The UK-based Cobra Beer is looking at both the organic and inorganic mode to spawn growth in India. Upping its ante, the global beer major said it has earmarked $80 million for its expansion which includes adding two new breweries.
“We are looking at both acquisition and greenfield projects to strengthen our presence here. Our aim is to sell 20 million cases annually by 2012 in India,” Mr Karan Billimoria, founder-owner of Cobra Beer, told Business Line. The company currently has seven breweries in India in Goa, Bihar, Orissa, Madhya Pradesh, Uttar Pradesh, Rajasthan and Maharashtra. It is adding two new ones in Karnataka and Andhra Pradesh.Bullish on India
The beer major, with a global turnover of $400 million, said India is high on its radar for all its future expansions. “India will be a very important market in the future. It is also witnessing a high growth rate. We are in talks with a brewer for acquiring a majority stake, similar to the one we has acquired in Bihar — Iceberg,” he said adding “the process will take a couple of weeks before it can be announced.”
The company is also looking to introduce some of its premium brands in India, he said. Currently from its global portfolio of 35 SKUs, only four are present in the Indian market.
“The Indian beer market is slated to touch the 200-million-cases mark and we are targeting about 10 per cent of the market. In volume terms, India is bound to overtake UK in three years. This market can be tapped with niche variants such as premium and low-calorie beer,” Mr Billimoria added.
On banning of surrogate advertisements, he said prohibition has not worked in any market and the Government must realise that deregulating the industry will benefit the economy at large.
On the shortage of barley, Mr Billimoria said, the company was mulling the possibility of contract manufacturing of barley in the northern belt of the country to offset the shortage and thus having the backward integration advantage.
He said the company is also increasing its distribution channel, besides tapping the modern retail outlets. “Wherever we find opportunity, we will mark our presence.” Currently, the company is expanding its presence in southern India.
Mar 26, 2008
Bindu D. Menon
New Delhi, March 25 The UK-based Cobra Beer is looking at both the organic and inorganic mode to spawn growth in India. Upping its ante, the global beer major said it has earmarked $80 million for its expansion which includes adding two new breweries.
“We are looking at both acquisition and greenfield projects to strengthen our presence here. Our aim is to sell 20 million cases annually by 2012 in India,” Mr Karan Billimoria, founder-owner of Cobra Beer, told Business Line. The company currently has seven breweries in India in Goa, Bihar, Orissa, Madhya Pradesh, Uttar Pradesh, Rajasthan and Maharashtra. It is adding two new ones in Karnataka and Andhra Pradesh.Bullish on India
The beer major, with a global turnover of $400 million, said India is high on its radar for all its future expansions. “India will be a very important market in the future. It is also witnessing a high growth rate. We are in talks with a brewer for acquiring a majority stake, similar to the one we has acquired in Bihar — Iceberg,” he said adding “the process will take a couple of weeks before it can be announced.”
The company is also looking to introduce some of its premium brands in India, he said. Currently from its global portfolio of 35 SKUs, only four are present in the Indian market.
“The Indian beer market is slated to touch the 200-million-cases mark and we are targeting about 10 per cent of the market. In volume terms, India is bound to overtake UK in three years. This market can be tapped with niche variants such as premium and low-calorie beer,” Mr Billimoria added.
On banning of surrogate advertisements, he said prohibition has not worked in any market and the Government must realise that deregulating the industry will benefit the economy at large.
On the shortage of barley, Mr Billimoria said, the company was mulling the possibility of contract manufacturing of barley in the northern belt of the country to offset the shortage and thus having the backward integration advantage.
He said the company is also increasing its distribution channel, besides tapping the modern retail outlets. “Wherever we find opportunity, we will mark our presence.” Currently, the company is expanding its presence in southern India.
Mar 26, 2008
DLF IPL broadcaster Sony to make Rs 300 cr :
New Delhi, March 25 The media interest, the glamour quotient and the buzz managed by the BCCI’s DLF IPL has helped advertising spot rates climb to as much as Rs 3.25 lakh for Sony.
The broadcaster is all set to earn Rs 300 crore from the first season of 59 matches. It has already roped in Vodafone and Hyundai as presenting sponsors for deals worth Rs 22-26 crore each.
Associate sponsors on board for Rs 16-20 crore each are Coca-Cola, Max New York Life, Godrej and a fourth player that Sony representatives declined to name. The broadcaster has revised its plans to tie up six sponsors and will sell the remaining inventory of 400 secs during the 59 matches as spot buys. According to industry sources, the rates are going for Rs 2.5 lakh per 10 secs on an average. While bigger advertisers could be getting it at for as much as Rs 1.75 lakh, advertisers who are buying just 10-15 spots are willing to cough up as much as Rs 3.25 lakh, says a media buyer. There is that much interest for the property.
The rates have already beaten the Rs 1.8-2.1 lakh that ESPN earned per spot during its broadcast of ICC Twenty 20 World Cup which had generated unprecedented television audience ratings for the India-Pakistan finals.
Mar 26, 2008
New Delhi, March 25 The media interest, the glamour quotient and the buzz managed by the BCCI’s DLF IPL has helped advertising spot rates climb to as much as Rs 3.25 lakh for Sony.
The broadcaster is all set to earn Rs 300 crore from the first season of 59 matches. It has already roped in Vodafone and Hyundai as presenting sponsors for deals worth Rs 22-26 crore each.
Associate sponsors on board for Rs 16-20 crore each are Coca-Cola, Max New York Life, Godrej and a fourth player that Sony representatives declined to name. The broadcaster has revised its plans to tie up six sponsors and will sell the remaining inventory of 400 secs during the 59 matches as spot buys. According to industry sources, the rates are going for Rs 2.5 lakh per 10 secs on an average. While bigger advertisers could be getting it at for as much as Rs 1.75 lakh, advertisers who are buying just 10-15 spots are willing to cough up as much as Rs 3.25 lakh, says a media buyer. There is that much interest for the property.
The rates have already beaten the Rs 1.8-2.1 lakh that ESPN earned per spot during its broadcast of ICC Twenty 20 World Cup which had generated unprecedented television audience ratings for the India-Pakistan finals.
Mar 26, 2008
Monday, March 24, 2008
Global PE duo to invest $500 Mn in Unitech SPV:
New Delhi: Private equity players Lehman Brothers and Deutsche Bank will jointly invest $500 million in an SPV floated by Unitech, India's second most valued real estate developer, reported The Economic Times.A source close to the development says that the two PE players are in advanced stage of negotiations with Unitech to pick up a minority stake in the SPV formed to execute two commercial projects in Mumbai. The two projects, located in the Santa Cruz area of Mumbai, are likely to have a combined developable office space of 2 million square feet. The deal is expected to be closed in the next three weeks, according to the source.
This injection of fresh funds would come as a relief to Unitech, which recently put on hold its $1 billion qualified institutional placement (QIP) and listing of its Singapore Reit (Real Estate Investment Trust) due to poor market sentiments. The market volatility and the news that Unitech was putting off its QIP and Reit listing have severely affected company's stocks in the past couple of weeks. Unitech has lost almost half of its market cap since the beginning of the year. The Santa Cruz project may be one of the first to be completed by Unitech in Mumbai. The company has largely been an NCR player, with a good 70 percent of its revenue coming from this region. The Gurgaon based firm, however, is now foraying into other parts of the country, and, perhaps, more aggressively in Mumbai.Unitech had announced its entry in the Mumbai market last year with a 97 acre commercial project in Bandra-Kurla Complex. The likely Unitech-Lehman-Deutsche deal apparently drives home a point that although poor market conditions might have slowed down PE deals, big money is still following certain opportunities in India.
March 24, 2008
New Delhi: Private equity players Lehman Brothers and Deutsche Bank will jointly invest $500 million in an SPV floated by Unitech, India's second most valued real estate developer, reported The Economic Times.A source close to the development says that the two PE players are in advanced stage of negotiations with Unitech to pick up a minority stake in the SPV formed to execute two commercial projects in Mumbai. The two projects, located in the Santa Cruz area of Mumbai, are likely to have a combined developable office space of 2 million square feet. The deal is expected to be closed in the next three weeks, according to the source.
This injection of fresh funds would come as a relief to Unitech, which recently put on hold its $1 billion qualified institutional placement (QIP) and listing of its Singapore Reit (Real Estate Investment Trust) due to poor market sentiments. The market volatility and the news that Unitech was putting off its QIP and Reit listing have severely affected company's stocks in the past couple of weeks. Unitech has lost almost half of its market cap since the beginning of the year. The Santa Cruz project may be one of the first to be completed by Unitech in Mumbai. The company has largely been an NCR player, with a good 70 percent of its revenue coming from this region. The Gurgaon based firm, however, is now foraying into other parts of the country, and, perhaps, more aggressively in Mumbai.Unitech had announced its entry in the Mumbai market last year with a 97 acre commercial project in Bandra-Kurla Complex. The likely Unitech-Lehman-Deutsche deal apparently drives home a point that although poor market conditions might have slowed down PE deals, big money is still following certain opportunities in India.
March 24, 2008
Thursday, March 13, 2008
Eka Software to tap India, West Asia markets:
Bangalore-based Eka Software Solutions, a provider of commodity trade and risk management software for companies involved in export, import and trading activities, is looking at aggressively tapping into the India and West Asia markets.
Eka, derived from the word Ekam which means unified or integrated in Sanskrit, has already initiated talks with a few companies in these two geographies. The company, at present, draws 100 per cent of its revenues from Europe and the US, where it has a presence.
“Asia, a $100-million (approximately Rs 400 crore) market for the commodity trade and risk management (CTRM) software, is pretty much on our strategic road map. We are currently in talks with a few companies in this region including Sterilite and Hindalco. We expect to bag around 15 clients, including a couple of them that are into palm oil and rubber trading from Malaysia,” Manav Garg, founder and chief executive officer of Eka Software Solutions, told Business Standard.
With Asian companies realising the importance of adopting CTRM solutions, especially for futures and derivatives trading, Eka expects 20 per cent of its revenues to flow in from this emerging market in the next one to two years, he added.
Stating that the growing biofuels trading, predominantly in Brazil and the US, and the burgeoning metal prices have been fuelling Eka’s business, he said the company planned to double its headcount, from the present 95, during the next financial year to cater to this demand.
Founded in 2001, Eka Software Solutions had raised $6 million (approximately Rs 24 crore) from the GP Group of Bangkok in two rounds of funding between 2003 and 2005 to build its Eka product suite.
Its integrated software solutions enable companies reduce costs, manage risks and improve control over their operations. The company has a sales office in Amsterdam.
Business Standard, 14th March 2008
Bangalore-based Eka Software Solutions, a provider of commodity trade and risk management software for companies involved in export, import and trading activities, is looking at aggressively tapping into the India and West Asia markets.
Eka, derived from the word Ekam which means unified or integrated in Sanskrit, has already initiated talks with a few companies in these two geographies. The company, at present, draws 100 per cent of its revenues from Europe and the US, where it has a presence.
“Asia, a $100-million (approximately Rs 400 crore) market for the commodity trade and risk management (CTRM) software, is pretty much on our strategic road map. We are currently in talks with a few companies in this region including Sterilite and Hindalco. We expect to bag around 15 clients, including a couple of them that are into palm oil and rubber trading from Malaysia,” Manav Garg, founder and chief executive officer of Eka Software Solutions, told Business Standard.
With Asian companies realising the importance of adopting CTRM solutions, especially for futures and derivatives trading, Eka expects 20 per cent of its revenues to flow in from this emerging market in the next one to two years, he added.
Stating that the growing biofuels trading, predominantly in Brazil and the US, and the burgeoning metal prices have been fuelling Eka’s business, he said the company planned to double its headcount, from the present 95, during the next financial year to cater to this demand.
Founded in 2001, Eka Software Solutions had raised $6 million (approximately Rs 24 crore) from the GP Group of Bangkok in two rounds of funding between 2003 and 2005 to build its Eka product suite.
Its integrated software solutions enable companies reduce costs, manage risks and improve control over their operations. The company has a sales office in Amsterdam.
Business Standard, 14th March 2008
Domestic market shines for BPOs:
Indian export-oriented information technology (IT) and business process outsourcing (BPO) firms may be grappling with an appreciating rupee and clouds of doubt looming over the extension of tax sops for the sector beyond 2009.
However, the business of BPO firms that cater to the domestic market appears to be booming.
BPO demand in the domestic market has witnessed noticeable growth over the past few years.
An Everest-Nasscom study points out that the domestic BPO market, with a growth rate of 50 per cent over the last five years, has grown faster than the overall Indian BPO market to reach nearly $1.6 billion (Rs 6,400 crore) by end of FY2008, against an overall BPO revenue of around $11 billion.
The potential opportunity in the domestic BPO sector is expected to be $15-20 billion by 2012 compared with the $50 billion projected for the overall BPO sector by 2012.
Jimit Arora, senior research analyst, Everest Research Institute, notes there is a definite increase in the interest among vendors across the board to pursue the opportunity for domestic BPO.
Global IT services player IBM has already cannibalised the home turf by winning multi-million dollar deals in India. Taking the cue, BPO players too are gearing up for the exponential growth.
For instance, Infovision, India's third largest BPO firm catering primarily to the domestic market is looking to more than double its headcount to 25,000 over the next two years.
"We are currently a Rs 250 crore company with about 70 per cent of our business coming from domestic operations. We are aiming to increase this four-fold to Rs 1,000 crore by 2010," said Aditya Gupta, president, Infovision.
Added Ramachandra Panickar, CFO, Intelenet Global Services, "Our domestic BPO revenues are around Rs 240 crore. We expect the market to grow at over 50 per cent per annum in the next two years. We employ over 15,000 people across seven locations in India, which we plan to increase by 20 to 30 per cent a year".
"This market depends on the economies of scale. Many contracts are given on the basis of the reputation of the company. The country is going through an inflection point where the customers are willing to pay, but it is still at a growing stage so the companies are looking at bigger domestic players," said Aparup Sengupta, CEO and Managing Director of Aegis BPO.
Radhika Balasubramanian, COO - India Domestic BPO Business, Intelenet Global Services, noted: "The tremendous growth potential in the domestic BPO market and opportunity to derisk revenue model by providing a balance between international- domestic revenue have spurred international BPOs to enter the domestic market. We see a huge potential here. We have no intentions of making our international business more dominant than our domestic business."
Similar sentiments are echoed by Sengupta who said, "With consumer spending on the rise in India, our business will also receive an indirect boost, so we intend on keeping half our revenues coming for our domestic business."
Ameet Nivsarkar, VP, Nasscom added that the domestic BPO market has witnessed an over 40 per cent growth last year, and "we expect it to continue especially with the growing economy".
Is their optimism well-founded, given that BPOs do not get any tax benefits from their domestic revenues, and the income is taxed at the normal 33 per cent? The cost pressures on a domestic BPO are lower than the international businesses, notes Nivsarkar.
Moroever, their skill requirements are different. For a domestic BPO fluency in a local language as well as a national language is needed, due to which they can easily shift to a smaller city without much difficulty. This would help ease cost pressures as well.
Analysts also explain that catering to international markets give companies margin of at least 20 to 30 per cent whereas back home it is 12-13 per cent. However, while the margins of a domestic BPO are marginally lower than an international BPO, it’s the volume, size and scale that comprise the differentiating factors.
Anish Zaveri, associate director, KPMG Advisory, explains: "The two main investments in any BPO are infrastructure and manpower. These are relatively less expensive for a domestic BPO given the lower salary structure, lower cost of training and business development expenses. They also have the ability to move to lower cost tier-2 and tier-3 cities with greater ease."
The salary structure for a domestic BPO employee is almost 30-35 per cent lower than an international BPO employee.
He adds: "The efficiency rate in the domestic BPO space is also much higher than its international counterpart. Utilisation ratios are also better. All these factors culminate to lower capital costs."
Moreover, as the country reaches new high points in its various industries like telcom, retail and hospitality it throws up new opportunities for the domestic BPOs as well.
Business Standard, 14th March 2008
Indian export-oriented information technology (IT) and business process outsourcing (BPO) firms may be grappling with an appreciating rupee and clouds of doubt looming over the extension of tax sops for the sector beyond 2009.
However, the business of BPO firms that cater to the domestic market appears to be booming.
BPO demand in the domestic market has witnessed noticeable growth over the past few years.
An Everest-Nasscom study points out that the domestic BPO market, with a growth rate of 50 per cent over the last five years, has grown faster than the overall Indian BPO market to reach nearly $1.6 billion (Rs 6,400 crore) by end of FY2008, against an overall BPO revenue of around $11 billion.
The potential opportunity in the domestic BPO sector is expected to be $15-20 billion by 2012 compared with the $50 billion projected for the overall BPO sector by 2012.
Jimit Arora, senior research analyst, Everest Research Institute, notes there is a definite increase in the interest among vendors across the board to pursue the opportunity for domestic BPO.
Global IT services player IBM has already cannibalised the home turf by winning multi-million dollar deals in India. Taking the cue, BPO players too are gearing up for the exponential growth.
For instance, Infovision, India's third largest BPO firm catering primarily to the domestic market is looking to more than double its headcount to 25,000 over the next two years.
"We are currently a Rs 250 crore company with about 70 per cent of our business coming from domestic operations. We are aiming to increase this four-fold to Rs 1,000 crore by 2010," said Aditya Gupta, president, Infovision.
Added Ramachandra Panickar, CFO, Intelenet Global Services, "Our domestic BPO revenues are around Rs 240 crore. We expect the market to grow at over 50 per cent per annum in the next two years. We employ over 15,000 people across seven locations in India, which we plan to increase by 20 to 30 per cent a year".
"This market depends on the economies of scale. Many contracts are given on the basis of the reputation of the company. The country is going through an inflection point where the customers are willing to pay, but it is still at a growing stage so the companies are looking at bigger domestic players," said Aparup Sengupta, CEO and Managing Director of Aegis BPO.
Radhika Balasubramanian, COO - India Domestic BPO Business, Intelenet Global Services, noted: "The tremendous growth potential in the domestic BPO market and opportunity to derisk revenue model by providing a balance between international- domestic revenue have spurred international BPOs to enter the domestic market. We see a huge potential here. We have no intentions of making our international business more dominant than our domestic business."
Similar sentiments are echoed by Sengupta who said, "With consumer spending on the rise in India, our business will also receive an indirect boost, so we intend on keeping half our revenues coming for our domestic business."
Ameet Nivsarkar, VP, Nasscom added that the domestic BPO market has witnessed an over 40 per cent growth last year, and "we expect it to continue especially with the growing economy".
Is their optimism well-founded, given that BPOs do not get any tax benefits from their domestic revenues, and the income is taxed at the normal 33 per cent? The cost pressures on a domestic BPO are lower than the international businesses, notes Nivsarkar.
Moroever, their skill requirements are different. For a domestic BPO fluency in a local language as well as a national language is needed, due to which they can easily shift to a smaller city without much difficulty. This would help ease cost pressures as well.
Analysts also explain that catering to international markets give companies margin of at least 20 to 30 per cent whereas back home it is 12-13 per cent. However, while the margins of a domestic BPO are marginally lower than an international BPO, it’s the volume, size and scale that comprise the differentiating factors.
Anish Zaveri, associate director, KPMG Advisory, explains: "The two main investments in any BPO are infrastructure and manpower. These are relatively less expensive for a domestic BPO given the lower salary structure, lower cost of training and business development expenses. They also have the ability to move to lower cost tier-2 and tier-3 cities with greater ease."
The salary structure for a domestic BPO employee is almost 30-35 per cent lower than an international BPO employee.
He adds: "The efficiency rate in the domestic BPO space is also much higher than its international counterpart. Utilisation ratios are also better. All these factors culminate to lower capital costs."
Moreover, as the country reaches new high points in its various industries like telcom, retail and hospitality it throws up new opportunities for the domestic BPOs as well.
Business Standard, 14th March 2008
Nadathur may exit Cades:
Raghuvir Badrinath & Bibhu Ranjan Mishra / Chennai/ Bangalore March 14, 2008
Nadathur Holdings, an investment firm established by N S Raghavan, co-founder and former managing director of Infosys, is looking to exit Cades Digitech, a Bangalore-based product design and engineering services firm. Nadathur Holdings is understood to be holding a majority stake in Cades.
According to industry sources, Cades has a topline of around $20 million and Nadathur is looking to exit the firm at an enterprise valuation of little over $30 million. No comments were available from Nadathur Holdings.
Cades offers a complete range of design, analysis, virtual prototyping and product lifecycle management services to aerospace, automotive and heavy engineering industries.
The services, apart from design and analysis, include simulation, manufacturing design, configuration management and product data management. The company employs around 400 people.
Presently, 20-30 per cent of Cades’ revenue comes from automotive and around 70 per cent from defence sector. Cades competes with the likes of Hyderabad-based Infotech Enterprises, Bangalore-based Quest besides a few others in this sector which is expected to see tremendous growth as a result of the defence offset clause of the Indian government.
According to industry information, Cades is among the companies which is on the radar to be a vendor for Airbus engineering centre in Bangalore. Cades, along with Quest, Satyam, Infosys, HCL are expected to be housed as part of a large campus being set up by Airbus in Bangalore near the new Bangalore International Airport.
Nadathur Holdings has invested in companies focussed on information technology, healthcare, life sciences and engineering services.
The company in addition to Cades has invested in MediAssist, Spice Route, Indegene Lifesystems, Metahelix besides a few others. Industry estimates that the valuations of the all the investments by Nadathur Holdings will be around $500 million.
Business Standard, 14th March 2008
Raghuvir Badrinath & Bibhu Ranjan Mishra / Chennai/ Bangalore March 14, 2008
Nadathur Holdings, an investment firm established by N S Raghavan, co-founder and former managing director of Infosys, is looking to exit Cades Digitech, a Bangalore-based product design and engineering services firm. Nadathur Holdings is understood to be holding a majority stake in Cades.
According to industry sources, Cades has a topline of around $20 million and Nadathur is looking to exit the firm at an enterprise valuation of little over $30 million. No comments were available from Nadathur Holdings.
Cades offers a complete range of design, analysis, virtual prototyping and product lifecycle management services to aerospace, automotive and heavy engineering industries.
The services, apart from design and analysis, include simulation, manufacturing design, configuration management and product data management. The company employs around 400 people.
Presently, 20-30 per cent of Cades’ revenue comes from automotive and around 70 per cent from defence sector. Cades competes with the likes of Hyderabad-based Infotech Enterprises, Bangalore-based Quest besides a few others in this sector which is expected to see tremendous growth as a result of the defence offset clause of the Indian government.
According to industry information, Cades is among the companies which is on the radar to be a vendor for Airbus engineering centre in Bangalore. Cades, along with Quest, Satyam, Infosys, HCL are expected to be housed as part of a large campus being set up by Airbus in Bangalore near the new Bangalore International Airport.
Nadathur Holdings has invested in companies focussed on information technology, healthcare, life sciences and engineering services.
The company in addition to Cades has invested in MediAssist, Spice Route, Indegene Lifesystems, Metahelix besides a few others. Industry estimates that the valuations of the all the investments by Nadathur Holdings will be around $500 million.
Business Standard, 14th March 2008
Serena Software Licenses Application:
Serena Software has licensed software applications under Creatvie Commons licenses, using a range of copyright licenses designed to protect creative work and encourage certain uses of that work. By licensing its free, pre-built Business Mashups through Creative Commons, and encouraging other software companies to do the same, Serena aims to build an online ecosystem that fosters the creation and sharing of new approaches to solving common business problems.
Business Standard, 14th March 2008.
Serena Software has licensed software applications under Creatvie Commons licenses, using a range of copyright licenses designed to protect creative work and encourage certain uses of that work. By licensing its free, pre-built Business Mashups through Creative Commons, and encouraging other software companies to do the same, Serena aims to build an online ecosystem that fosters the creation and sharing of new approaches to solving common business problems.
Business Standard, 14th March 2008.
SMEI opens India Chapter:
Sales and Marketing Executives International (SMEI), a worldwide knowledge-growth and relationship building forum for sales and marketing executives, opened its India Chapter here today.
With over 50 affiliate chapters around the world, members would benefit from both the strength of an international organisation and the resources the local organisation provided through ongoing seminars, lectures and network opportunities.
Business Standard, 14th March 2008
Sales and Marketing Executives International (SMEI), a worldwide knowledge-growth and relationship building forum for sales and marketing executives, opened its India Chapter here today.
With over 50 affiliate chapters around the world, members would benefit from both the strength of an international organisation and the resources the local organisation provided through ongoing seminars, lectures and network opportunities.
Business Standard, 14th March 2008
Friday, February 29, 2008
Silver Software to expand:
Silver Software, a UK-based software engineering services provider, which recently merged with the technology and systems business of Atena Engineering (subsidiary of Assystem Group) in Germany, plans to transfer new engineering capabilities to its Bangalore centre in the coming months.
The privately-held company has development centres in India, UK and Spain with Bangalore accounting for 235 of the total staff strength (350). The Bangalore centre specialises in aerospace, railway signalling, telecom and space-related software engineering.
“Through this merger, we will be gaining expertise in hardware design and system engineering along with an entry into the automotive segment. We intend to shift all the new engineering capabilities that we are acquiring from Atena to the Bangalore centre,” Silver Software CEO Parminder Singh said.
The newly-formed company will see Atena holding the majority stake (55 per cent) with the balance held by share holders of Silver Software.
“The driving factor for the merger is to enhance the complementary skill sets of both the companies. We expect the combined sales of the new entity to be Euro 35 million in the first year,” he added.
The company also plans to double its headcount globally in three years time and two-thirds of this strength will be located in India. “It is our plan to take the staff strength of the company to 1,000 in three years with Bangalore becoming the hub of our core development activities,” Singh said.
Atena Engineering, founded in 1998, has been a subsidiary of the Assystem Group since July 2005. Atena offers systems engineering, software engineering, hardware engineering, safety engineering, real time simulation and test systems. The Technology and Systems division has around Euros 20 million in revenue and 180 employees.
Atena works for the aerospace, automotive and gas turbines industries, with customers like Airbus, Audi, BMW, Bosch and Daimler, EADS, Eurocopter, MTU Aero Engines, Rolls-Royce Siemens PG and ZF Lenksysteme. The projects include BMW Hydrogen 7, Airbus A380, Airbus A400M and the Engine Control Unit of the EJ-200.
According to Singh, the merger will help both the companies move up the value chain. “Our clients are seeking value added services from us. The merger will help us improve our knowledge base,” he pointed out and added that it will also help them in securing more orders from various industries.
Silver Software has been providing engineering solutions to Boeing, Airbus, Lockheed Martin, London Underground, Metro Madrid across the entire software lifecycle.
It is also involved in the development of various components of European Rail Transport Management System (ERTMS).
“The combined skills of Atena and Silver Software will help us improve our service offerings significantly apart from tapping new markets,” Singh said.
Silver Software, a UK-based software engineering services provider, which recently merged with the technology and systems business of Atena Engineering (subsidiary of Assystem Group) in Germany, plans to transfer new engineering capabilities to its Bangalore centre in the coming months.
The privately-held company has development centres in India, UK and Spain with Bangalore accounting for 235 of the total staff strength (350). The Bangalore centre specialises in aerospace, railway signalling, telecom and space-related software engineering.
“Through this merger, we will be gaining expertise in hardware design and system engineering along with an entry into the automotive segment. We intend to shift all the new engineering capabilities that we are acquiring from Atena to the Bangalore centre,” Silver Software CEO Parminder Singh said.
The newly-formed company will see Atena holding the majority stake (55 per cent) with the balance held by share holders of Silver Software.
“The driving factor for the merger is to enhance the complementary skill sets of both the companies. We expect the combined sales of the new entity to be Euro 35 million in the first year,” he added.
The company also plans to double its headcount globally in three years time and two-thirds of this strength will be located in India. “It is our plan to take the staff strength of the company to 1,000 in three years with Bangalore becoming the hub of our core development activities,” Singh said.
Atena Engineering, founded in 1998, has been a subsidiary of the Assystem Group since July 2005. Atena offers systems engineering, software engineering, hardware engineering, safety engineering, real time simulation and test systems. The Technology and Systems division has around Euros 20 million in revenue and 180 employees.
Atena works for the aerospace, automotive and gas turbines industries, with customers like Airbus, Audi, BMW, Bosch and Daimler, EADS, Eurocopter, MTU Aero Engines, Rolls-Royce Siemens PG and ZF Lenksysteme. The projects include BMW Hydrogen 7, Airbus A380, Airbus A400M and the Engine Control Unit of the EJ-200.
According to Singh, the merger will help both the companies move up the value chain. “Our clients are seeking value added services from us. The merger will help us improve our knowledge base,” he pointed out and added that it will also help them in securing more orders from various industries.
Silver Software has been providing engineering solutions to Boeing, Airbus, Lockheed Martin, London Underground, Metro Madrid across the entire software lifecycle.
It is also involved in the development of various components of European Rail Transport Management System (ERTMS).
“The combined skills of Atena and Silver Software will help us improve our service offerings significantly apart from tapping new markets,” Singh said.
28th Feb 2008
Nilgiris set to take control of Valdel Retail:
Nilgiris’ Dairy Farm, controlled by Actis Private Equity, is set to take control over Bangalore-based Valdel Retail over a period of time. Valdel Retail, is a part of the Valdel Group, which has significant interests in engineering and construction.
According to industry sources, the deal is structured over two steps. For starters, the existing 15-odd retail outlets owned by Valdel Retail will be rebranded as Nilgiris’ through a franchisee agreement for a certain period of time.
Post this, Valdel is likely to exit this retailing business in favour of Nilgiris. Valdel Retail manages two brands - ‘Dailys’ for supermarkets and ‘Centra’ for large-format department stores. These stores are located in Bangalore and Mysore.
Spokespersons from both the companies were not available for comments. Nilgiris is a century old retail chain focused on South India. UK-based private equity fund Actis during late 2006 acquired 65 per cent for around Rs 300 crore from the promoters of Nilgiris.
Industry sources further indicate that with this move, Nilgiris gets a boost to its rapid expansion plan which is underway, with a possibility of a Rs 150 crore IPO in due course.
Valdel Group is a breakaway faction from M S Ramaiah Group, a noted business house in Bangalore which has varied interests in healthcare and education. The five year old Valdel Retail in addition to retail had forayed into Business Process Outsourcing business, which also did not build up steam.
Valdel in the engineering business operates two separate JVs with L&T and US-based S&B Engineers & Constructors, offering integrated services to the oil & gas, refinery, petrochemicals and pharmaceutical sector.
In addition to this, Valdel Group has floated an equal joint venture with Unitech for developing shopping malls and hospitality sector. This joint venture is estimated to invest around Rs 200 crore to develop properties over 6 lakh square feet.
28th Feb 2008
Nilgiris’ Dairy Farm, controlled by Actis Private Equity, is set to take control over Bangalore-based Valdel Retail over a period of time. Valdel Retail, is a part of the Valdel Group, which has significant interests in engineering and construction.
According to industry sources, the deal is structured over two steps. For starters, the existing 15-odd retail outlets owned by Valdel Retail will be rebranded as Nilgiris’ through a franchisee agreement for a certain period of time.
Post this, Valdel is likely to exit this retailing business in favour of Nilgiris. Valdel Retail manages two brands - ‘Dailys’ for supermarkets and ‘Centra’ for large-format department stores. These stores are located in Bangalore and Mysore.
Spokespersons from both the companies were not available for comments. Nilgiris is a century old retail chain focused on South India. UK-based private equity fund Actis during late 2006 acquired 65 per cent for around Rs 300 crore from the promoters of Nilgiris.
Industry sources further indicate that with this move, Nilgiris gets a boost to its rapid expansion plan which is underway, with a possibility of a Rs 150 crore IPO in due course.
Valdel Group is a breakaway faction from M S Ramaiah Group, a noted business house in Bangalore which has varied interests in healthcare and education. The five year old Valdel Retail in addition to retail had forayed into Business Process Outsourcing business, which also did not build up steam.
Valdel in the engineering business operates two separate JVs with L&T and US-based S&B Engineers & Constructors, offering integrated services to the oil & gas, refinery, petrochemicals and pharmaceutical sector.
In addition to this, Valdel Group has floated an equal joint venture with Unitech for developing shopping malls and hospitality sector. This joint venture is estimated to invest around Rs 200 crore to develop properties over 6 lakh square feet.
28th Feb 2008
Arteria Technologies Award:
Arteria Technologies, a Bengaluru-based SAP NetWeaver services partner, has won the 'Best SAP NetWeaver Process Integration Partner' award for 2007 in APJ (Asia Pacific and Japan geographies). The award has been instituted from this year onwards by SAP to recognise the best partner delivering implementation services based on SAP NetWeaver process integration platform in the region. The award highlights the capabilities, knowledge, best practices and implementation experience Arteria has as a SAP partner.
28th Feb 2008
Arteria Technologies, a Bengaluru-based SAP NetWeaver services partner, has won the 'Best SAP NetWeaver Process Integration Partner' award for 2007 in APJ (Asia Pacific and Japan geographies). The award has been instituted from this year onwards by SAP to recognise the best partner delivering implementation services based on SAP NetWeaver process integration platform in the region. The award highlights the capabilities, knowledge, best practices and implementation experience Arteria has as a SAP partner.
28th Feb 2008
Ghari sales reach Rs 1,200 crore:
The sale of the Ghari detergent, a product of Kanpur-based Ghari Industries Ltd, will reach Rs 1,200 crore in the current fiscal.
The sale will equal that of other major competitors, Nirma and Wheel — products of Nirma Industries and Hindustan Unilever, respectively.
Although their latest figures are not known, detergent experts in the city believe that both would be above Rs 1,000 crore, in what has become a neck and neck battle between the three.
Moreover, Ghari, now a well-diversified company with stakes in leather and construction besides soap and detergent, has launched its toilet soap. It has strengthened its hold over UP, MP, Bihar and Delhi, where it has emerged as a leader in the popular detergent category. However, it is absent in the four southern states and is weak in the eastern states.
Murlidhar, the company’s chief managing director, said that the company was selling in about 17 states. Our capacity has risen to about 7,00,000 tonnes in the current fiscal and will go up to 9,00,000 tonnes in the next, he added.
Mr. Murlidhar - Chief Managing Director.
28th Feb 2008
The sale of the Ghari detergent, a product of Kanpur-based Ghari Industries Ltd, will reach Rs 1,200 crore in the current fiscal.
The sale will equal that of other major competitors, Nirma and Wheel — products of Nirma Industries and Hindustan Unilever, respectively.
Although their latest figures are not known, detergent experts in the city believe that both would be above Rs 1,000 crore, in what has become a neck and neck battle between the three.
Moreover, Ghari, now a well-diversified company with stakes in leather and construction besides soap and detergent, has launched its toilet soap. It has strengthened its hold over UP, MP, Bihar and Delhi, where it has emerged as a leader in the popular detergent category. However, it is absent in the four southern states and is weak in the eastern states.
Murlidhar, the company’s chief managing director, said that the company was selling in about 17 states. Our capacity has risen to about 7,00,000 tonnes in the current fiscal and will go up to 9,00,000 tonnes in the next, he added.
Mr. Murlidhar - Chief Managing Director.
28th Feb 2008
Silverline in talks for US buys:
Mumbai-based IT firm Silverline Technologies is in talks with two US firms for acquisitions. The company plans to close at least one deal, in the range of $10- 40 million (Rs 40-160 crore), during this financial year.
Since the start of this calendar year, the firm has announced two acquisitions -- the first the Canada-based contact centre -- OMDR, and the second gave the company an entry into the healthcare segment.
The firms which Silverline plans to acquire now, are expected to help it deliver global services in the enterprise resource planning, middleware and business intelligence segments.
The acquisitions have come as a surprise to stock market analysts. Silverline Technologies was one of the biggest casualties of the dotcom bust of 2001 from among the Indian stock market-listed companies.
The company, which also was the first New York Stock Exchange-listed Indian IT services company when it raised $100 million from US investors in 2000, had hit rock bottom in 2003-04.
All the six dotcom companies it acquired using the American depository receipts funds went bust, and its net worth saw complete depletion. It was forced to close all the US and Indian operations and its shares were delisted from the BSE due to non-reporting of quarterly numbers for six quarters running.
Titus Sequeria, executive director and chief strategy officer, "We have learnt from our mistakes and the biggest difference this time is we know what not to do."
Unlike the last time, the company is not doing all-cash deals. The acquisitions will be all-share deals with an earnout spread over a period of three years based on demonstrated topline and profitability committed at the time of acquisition. The target company should be making profit of at least 10 per cent and have free cash flow.
Mr. Titus Sequeria - Executive Director & Chief Strategy Officer
28th Feb 2008
Mumbai-based IT firm Silverline Technologies is in talks with two US firms for acquisitions. The company plans to close at least one deal, in the range of $10- 40 million (Rs 40-160 crore), during this financial year.
Since the start of this calendar year, the firm has announced two acquisitions -- the first the Canada-based contact centre -- OMDR, and the second gave the company an entry into the healthcare segment.
The firms which Silverline plans to acquire now, are expected to help it deliver global services in the enterprise resource planning, middleware and business intelligence segments.
The acquisitions have come as a surprise to stock market analysts. Silverline Technologies was one of the biggest casualties of the dotcom bust of 2001 from among the Indian stock market-listed companies.
The company, which also was the first New York Stock Exchange-listed Indian IT services company when it raised $100 million from US investors in 2000, had hit rock bottom in 2003-04.
All the six dotcom companies it acquired using the American depository receipts funds went bust, and its net worth saw complete depletion. It was forced to close all the US and Indian operations and its shares were delisted from the BSE due to non-reporting of quarterly numbers for six quarters running.
Titus Sequeria, executive director and chief strategy officer, "We have learnt from our mistakes and the biggest difference this time is we know what not to do."
Unlike the last time, the company is not doing all-cash deals. The acquisitions will be all-share deals with an earnout spread over a period of three years based on demonstrated topline and profitability committed at the time of acquisition. The target company should be making profit of at least 10 per cent and have free cash flow.
Mr. Titus Sequeria - Executive Director & Chief Strategy Officer
28th Feb 2008
DE Shaw invests $250 million in HDIL unit:
Mauritius-based hedge fund DE Shaw has made an equity investment of $250 million (Rs 1,000 crore) in Mack Star Marketing, a unit of Mumbai-based Housing Development & Infrastructure (HDIL), a realty developer. The exact extent of the stake picked up by DE Shaw is not known.
Mr. Sunny Wadhawan - Managing Director, HDIL
28th Feb 2008
Mauritius-based hedge fund DE Shaw has made an equity investment of $250 million (Rs 1,000 crore) in Mack Star Marketing, a unit of Mumbai-based Housing Development & Infrastructure (HDIL), a realty developer. The exact extent of the stake picked up by DE Shaw is not known.
Mr. Sunny Wadhawan - Managing Director, HDIL
28th Feb 2008
DSP Merill to invest 35% in BlackRock energy fund:
DSP Merrill Lynch (DSPML) would, for the first time, dip into BlackRock natural resources equity investment team’s expertise. The Indian asset manager has also been allowed to invest up to $200 million in a 'closed' fund managed by it, as an exception.
Mr Anup Maheshwari - Executive Vice-President and head of equities & corporate strategy at
DSPML
28th Feb 2008
DSP Merrill Lynch (DSPML) would, for the first time, dip into BlackRock natural resources equity investment team’s expertise. The Indian asset manager has also been allowed to invest up to $200 million in a 'closed' fund managed by it, as an exception.
Mr Anup Maheshwari - Executive Vice-President and head of equities & corporate strategy at
DSPML
28th Feb 2008
CavinKare acquires fruit juicce brand Maa:
Foods to FMCG company CavinKare Pvt Ltd has forayed into the fruit beverage market through the acquisition of a Tamil Nadu-based fruit drink brand Maa.
Maa Fruits Pvt Ltd, for a consideration of Rs 27.6 crore
Mr. C.K. Ranganathan - Chairman and Managing Director, CavinKare
Mr. N E Kumar, Managing Director, - Maa Fruits
28th Feb 2008
Foods to FMCG company CavinKare Pvt Ltd has forayed into the fruit beverage market through the acquisition of a Tamil Nadu-based fruit drink brand Maa.
Maa Fruits Pvt Ltd, for a consideration of Rs 27.6 crore
Mr. C.K. Ranganathan - Chairman and Managing Director, CavinKare
Mr. N E Kumar, Managing Director, - Maa Fruits
28th Feb 2008
HCL signs pact with US-based Chordiant :
HCL Technologies Ltd has entered into a partnership with US-based provider of CRM and decision management solutions, Chordiant Software. Under the agreement, the two would work together to take Chordiant’s Customer Relationship Management (CRM) products to HCL’s customers, and also define new markets to take the solutions to new customers.
Mr. Premkumar S - Corporate Officer & Global Head - Financial Services, HCL Technologies
Mr. Steven R Springsteel - Chairman, CEO & President- Chordiant Software.
28th Feb 2008
HCL Technologies Ltd has entered into a partnership with US-based provider of CRM and decision management solutions, Chordiant Software. Under the agreement, the two would work together to take Chordiant’s Customer Relationship Management (CRM) products to HCL’s customers, and also define new markets to take the solutions to new customers.
Mr. Premkumar S - Corporate Officer & Global Head - Financial Services, HCL Technologies
Mr. Steven R Springsteel - Chairman, CEO & President- Chordiant Software.
28th Feb 2008
Mack Star gets $250-m investment:
Mack Star Marketing Private Ltd, a Wadhawan Group company, has got an equity investment of $250 million from D.E. Shaw Composite Investments (Mauritius) Ltd.
Mack Star is developing a commercial complex at Swami Nityanand Marg, Andheri (East).
Earlier, realty major HDIL had granted development rights for the property to Mack Star for Rs 900 crore.
28th Feb 2008
Mack Star Marketing Private Ltd, a Wadhawan Group company, has got an equity investment of $250 million from D.E. Shaw Composite Investments (Mauritius) Ltd.
Mack Star is developing a commercial complex at Swami Nityanand Marg, Andheri (East).
Earlier, realty major HDIL had granted development rights for the property to Mack Star for Rs 900 crore.
28th Feb 2008
Shriram Pistons to spend Rs 600 Cr on second facility:
The New Delhi based Shriram Pistons & Rings Ltd (SPRL) intends to spend Rs 600 crore over the next five years in its second manufacturing facility that is coming up at Pathredi in Rajasthan.
The company manufactures pistons, piston rings and engine valves catering to most vehicle and
engine manufacturers in the country.
Mr A.K. Taneja - President
28th Feb 2008
The New Delhi based Shriram Pistons & Rings Ltd (SPRL) intends to spend Rs 600 crore over the next five years in its second manufacturing facility that is coming up at Pathredi in Rajasthan.
The company manufactures pistons, piston rings and engine valves catering to most vehicle and
engine manufacturers in the country.
Mr A.K. Taneja - President
28th Feb 2008
Xindia steel to set up iron ore pellet plant in karnataka:
Xindia Steel Ltd, a new joint venture between two Chinese steel and minerals companies and two Indian groups, announced that they would be investing over Rs 8,000 crore in two phases to set up iron pellatisation and steel plant in India.
Promoted by Xingxing Group of companies, Chinese National Metals Products, a part of the $19 billion China Minmetals Corporation along with its Indian partners, Kelachandra Group and Sigma Minmet Ltd, will produce two million tonnes (mt) of iron ore pellets in a plant to be set up in Koppal in north Karnataka. The Chinese investors will hold the controlling take of 55 per cent in the venture.
Mr. Gopi Ramanathan - Director
28th Feb 2008
Xindia Steel Ltd, a new joint venture between two Chinese steel and minerals companies and two Indian groups, announced that they would be investing over Rs 8,000 crore in two phases to set up iron pellatisation and steel plant in India.
Promoted by Xingxing Group of companies, Chinese National Metals Products, a part of the $19 billion China Minmetals Corporation along with its Indian partners, Kelachandra Group and Sigma Minmet Ltd, will produce two million tonnes (mt) of iron ore pellets in a plant to be set up in Koppal in north Karnataka. The Chinese investors will hold the controlling take of 55 per cent in the venture.
Mr. Gopi Ramanathan - Director
28th Feb 2008
Friday, February 22, 2008
LG to invest Rs 360 Cr to boost product sales:
LG Electronics planning to invest Rs. 360 crore in India on brand building and other marketing initiatives this year to help it gain market leadership. The company reportedly spent about Rs, 320 crore on marketing in 2007.
Mr. Moon Bum Shin- Managing Director
Dated: 21st Feb 2008
Metrocorp charts $750-m realty play:
Real eatate firm Metrocorp is set to expand its footprint pan-India. The Bangalore based company, that currently has two projects in the south, plants to invest $750 million (about Rs. 3000 crore) over the next one year to develop residential real estate and integrated townships across key makers.
Mr. Deepak Krishnappa - Chairman & CEO
Dated: 21st Feb 2008
Friday, February 15, 2008
JC Valves to set up Rs. 350 Crore casting unit:
Sharjah-Based Emirates Techno Casting(ETC) is planning to bring vacuum technology castings to India for the first time. The Rs. 600-cr ETC is setting up a manufacturing unit in Mahindra City, near Chennai, through JC Valves, a subsidiary of the Spain based JC Fabrica de valvulas sa (JCFF). For the year ending Dec 07, JC Valves turnover was over 50 million.
Mr. Faizal - President, who is also ETC founder president and CEO.
Dated: 14th Feb 08
Sharjah-Based Emirates Techno Casting(ETC) is planning to bring vacuum technology castings to India for the first time. The Rs. 600-cr ETC is setting up a manufacturing unit in Mahindra City, near Chennai, through JC Valves, a subsidiary of the Spain based JC Fabrica de valvulas sa (JCFF). For the year ending Dec 07, JC Valves turnover was over 50 million.
Mr. Faizal - President, who is also ETC founder president and CEO.
Dated: 14th Feb 08
Wednesday, February 13, 2008
Corporates are waking up to fitness needs:
Fitness, as an industry, has to grow and the people of our nation can benefit from it, but it can only be done with the help of the government, corporates and increasing awareness through the media, says Mr P. Vivekanand, Managing Director, FitnessOne.
http://www.thehindubusinessline.com/2008/02/13/stories/2008021350070900.htm
Dated: 13th Feb 2008
Fitness, as an industry, has to grow and the people of our nation can benefit from it, but it can only be done with the help of the government, corporates and increasing awareness through the media, says Mr P. Vivekanand, Managing Director, FitnessOne.
http://www.thehindubusinessline.com/2008/02/13/stories/2008021350070900.htm
Dated: 13th Feb 2008
Archidply to have plant in Kolar District:
Archidply Industries Ltd, which manufactures products like plywood, block board, particle board, decorative laminates and decorative veneers, has chalked out a capital expenditure plan of Rs. 79 crore to set up a new plant and also expand the capacity of its existing plant at Rudrapur in Uttarakhand. The firm is now setting up a greenfield project for manufacturing particle board in Chintamani in Karnataka. It plans to invest Rs. 37 crore on the project.
Mr. Deen Dayal Daga - CMD & CEO
Mr. Shyam Daga - Joint Managing Director and CFO.
Dated: 13th feb 2008
MPP Tech opens Tumkur unit:
MPP Technologies Pvt Ltd, (MPP), a Bangalore based sheet metal fabricator, has set up a plant at Tumkur, about 75 km from Bangalore, to manufacture Fin-Wall Corrugated tanks, used in power distribution. The Company has invested Rs. 14 Crore which includes a contribution of Rs. 2.5 crore from Crompton Greaves.
Dated: 13th Feb 2008
Kesoram setting up ancillary units on surplus land in Bengal.
B K Birla group company, Kesoram Industries plans to set up ancillary units on the surplus land at its various facilities in West Bengal,
Kesoram had already put in place a Rs. 1265 Crore expansion programme for its cement and tyre units. Its cement plant capacity at Gulbarga in Karnataka would be expanded from 3.6 mtpa to 5.2 mtpa
Mr. S.K. Parik-Director of Kesoram Industries.
Dated: 11th Feb 2008
B K Birla group company, Kesoram Industries plans to set up ancillary units on the surplus land at its various facilities in West Bengal,
Kesoram had already put in place a Rs. 1265 Crore expansion programme for its cement and tyre units. Its cement plant capacity at Gulbarga in Karnataka would be expanded from 3.6 mtpa to 5.2 mtpa
Mr. S.K. Parik-Director of Kesoram Industries.
Dated: 11th Feb 2008
Monday, February 11, 2008
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