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Policy for
proposed IT NEW DELHI, Oct 12: Delhi Industry Minister Dr Narendra Nath today said a new industrial policy will be ....more Syndicate Bank, SHCIL launches demat services VIJAYAWADA, Oct 12: The public sector Syndicate Bank, in association with the Stock Holding Corporation of India (SHCIL), the .....more TELCO vehicle sales NEW DELHI, Oct 12: Stung by a 29.4 per cent drop in car sales, Tata Engineering (TELCO) has registered a 22.19 per cent decline in total vehicle.....more HVPN invests over CHANDIGARH, Oct 12: Haryana Vidyut Prasaran Nigam (HVPN) has invested Rs 111.93 crore for high priority work of strengthening the state’s...more |
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Production affected as MUL employees refuse to work NEW DELHI, Oct 12: The 4,700-strong Workers Union of Maruti Udyog Limited (MUL) today boycott work threatening to bring the company’s......more Industrial production declines NEW DELHI, Oct 12: Continuing its downward slide, industrial growth fell to 4.8 per cent in August this year from 7.3 per cent in the same month last year mainly on...more Sonata declares interim dividend of 20 percent BANGALORE, Oct 12: Sonata Software Limited today declared an interim dividend of 20 per cent for the current fiscal and announced a profit after tax....more Phillipine designer helping Indian handicraft go global NEW DELHI, Oct 12: P J Aranador, a young Phillipine Designer who has made it to the international scene, is working with 25 Indian export houses...more |
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Policy
for proposed IT park in Delhi to be NEW DELHI, Oct 12: Delhi Industry Minister Dr Narendra Nath today said a new industrial policy will be announced soon for setting up an IT park for the hi-tech industry in Delhi. Dr Nath said the proposed IT park would be set up near the airport. Also, the minister said his department would follow the Supreme Court directives that there were no polluting industrial units in the capital. Dr Nath, was inaugurating Asia’s garment technology trade fair, Garmentech International 2000, held by the ANZ International Trade and Marketing Associates. The fair at Pragati Maidan showcases what organisers call the "technology of the new millennium". Dr Nath said that at present China was number one in the global garment sector and the Garmentech International 2000 fair would help Indian manufacturers to adopt latest technologies to compete in the world market. The ongoing fair will provide opportunities to both Indian as well as foreign participants to interact with each other for tapping the potential in this sector, the industry minister added. More than 200 companies, including participants from about 20 countries, are displaying around 2000 products, and Germany has an official pavilion in the exhibition, organisers said. Products on display in this four-day event, second after the 1998 exhibition, include sewing, knitting and hosiery, embroidery, fusing, flat knitting, spreading and cutting, steam generating machinery, laundry, pressing, finishing, quality control and testing equipment, cad/cam, software, accessories, product handling, packing and information services, fabrics, trimmings and embellishments and accessors, dyes and chemicals, luminaries, publications and allied services. (UNI) |
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Syndicate Bank, SHCIL launches demat services VIJAYAWADA, Oct 12: The public sector Syndicate Bank, in association with the Stock Holding Corporation of India (SHCIL), the largest depository participant in the country, launched demat services and online trading here today. Addressing a media conference on the occasion, Mr K S Murthy, Assistant Vice-President, SHCIL, Mumbai said the SHCIL, which had 130 branches in the country proposed to offer these services from 200 cities, including 30 centres in association with the bank, by March 2001 to reach out to more than 10 lakh customers from the present 5.80 lakh clients. Allaying fears of the trading public about misuse of their holdings, he said SHCIL was the only depository participant to have a mirror system, where the data was preserved before being executed on the depository. Moreover, the SHCIL had off-site back-ups, preventing any loss in the vent of a system failure, he explained. The value-added services offered by the SHCIL, included loans against demat shares through strategic tie-ups with various public, private, foreign and cooperative banks and "sell-n-cash" which enabled the account holder to realise proceeds from the sale of securities on the same day after deduction of nominal service charges which included R Brokerate, he said. With a net accessible personal computer, the account holder could route his buy or sell instructions through the internet, headed. Mr R Chandrasekhar, Regional General Manager, Syndicate Bank, said that the bank’s Non-Performing Assets was very low at three per cent as against the international permissible limit of five per cent. The Bank planned to introduce advanced services like ATM, online-trading of shares, seven-day banking in more branches and had tied up with the ap telecom for collection of telephone bills. It would offer co-branded global credit cards with Stanchart Bank during the its platinum jubilee year to effectively compete with private and foreign banks, he said. The bank had surpassed the Rs 30,000 crore business mark during 1999-2000 to make a handsome profit of Rs 215.65 crores and declare a maiden 14 per cent dividend to its share holders, he said. The bank with a network of 295 branches in Andhra Pradesh did a business of Rs 3230 crores, including an advance of Rs 600 crores to the priority sector, he added. (UNI) |
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TELCO vehicle sales slide 22.19 pc in September NEW DELHI, Oct 12: Stung by a 29.4 per cent drop in car sales, Tata Engineering (TELCO) has registered a 22.19 per cent decline in total vehicle sales in September, 2000, at 14,485 units as against 18,618 units a year earlier. The company’s cumulative vehicle sales in the first half of the current fiscal also dropped, though marginally by 0.08 per cent, at 82,220 units from 82,289 units sold in the same period a year earlier, the company announced on its website www.Telcoindia.Com. TELCO’s domestic vehicle sales in September this year stood at 13,397 units, down 23.6 per cent from 17,551 units in September last year. Total vehicle production during the month slipped 10.04 per cent at 10,856 units from 12,068 units a year earlier. In the first half of the year, total production stood at 83,193 units, down 1.53 per cent from 84,487 units a year earlier. Among its total product portfolio, only Light Commercial Vehicle (LCV) sales looked up during September this year. The company sold 3,611 units of LCVs during the month as against 3,194 units a year ago. Medium and heavy commercial vehicle sales dropped from 7,241 units in September 1999 to 4,301 units in September 2000, while utility vehicle sales slipped to 2,964 units from 3,067 units last year. Even total passenger car sales dropped 29.4 per cent during the month at 3,609 units from 5,116 units a year earlier, the company said. TELCO exported six units of its passenger car during the month. The company’s utility vehicles fared well on the export turf, registering a 9.7 per cent growth during the month at 260 units from 237 units a year earlier. In the first half of the fiscal, the company registered a 15.68 per cent surge in passenger car sales at 25,189 units as against 21,774 units a year earlier. Utility vehicle sales also looked up at 15,235 units for the fiscal as against 14,656 units a year earlier, while lcv sales stood at 18,321 units, up from 16,172 units last year. Medium and Heavy Commercial Vehicle (MHCV) sales, however, dropped 20.9 per cent in April-September period this year at 23,475 units from 29,687 units in the first half of the previous fiscal. The company has nearly halved production of MHCV in September this year at 3,374 units as against 6,524 units last year, while production of lcvs and passenger cars were hiked year-on-year. Utility vehicle production was also curtailed at 2,313 units in September 2000 as against 3,238 units in the same month last year. (UNI) |
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HVPN invests over Rs 100 cr
to strengthen CHANDIGARH, Oct 12: Haryana Vidyut Prasaran Nigam (HVPN) has invested Rs 111.93 crore for high priority work of strengthening the state’s power transmission and distribution system during last 14 months. It had already constructed and commissioned eight new sub-stations, augmented the capacity of 62 existing sub-stations and erected 279.50 km long new transmission lines during the same period, a nigam spokesperson said here today. He said that Nigam had augmented the capacity of 220 kv sub-station at Hisar industrial area, and erected 10.7 km long second circuit of 66 kv Palwal-Mandkola line at a cost of Rs 3.47 crore during the last month. An additional 50 mva transformer was installed in the existing 220 kv sub-station at Hisar industrial area, at a cost of Rs 3.22 crore to provide uninterrupted quality power supply to its command areas. (PTI) |
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Production affected as MUL employees refuse to work NEW DELHI, Oct 12: The 4,700-strong Workers Union of Maruti Udyog Limited (MUL) today boycott work threatening to bring the company’s passenger car production to near standstill. Though admitting that production has been hampered with the employees not reporting for work, MUL Director (Finance) A R Halasyam said the company is still producing some cars with a few workers. "Production has been affected but we are continuing to make cars," Mr Halasyam, who is involved in the wage negotiations, said. He, however, refused to divulge details on the extent of impact. Maruti Udyog Employees Union (MUEU) treasurer and spokesperson G K Walia said the workers have decided against signing an undertaking with the management to stop the protests and six-hour daily tool-down strike. "The 3,000 employees from the two morning shifts have not reported for duty and 1,700 more employees on the third shift will also protest and strike work," Mr Walia said. The workers are demanding better working atmosphere, revised incentive and pension schemes. The employees have been on a daily six-hour tool-down strike since October three protesting the suspension of nine workers by the MUL management. MUL had suspended the employees on charges of misconduct and even termed the tool-down strike as "illegal" stating that it was open for fresh negotiation to finalise a new incentive scheme. The company has already stated that it is not willing to accept MUEU’s proposed incentive scheme as it puts an additional burden of Rs 60-70 crore on the company. (UNI) |
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Industrial production declines NEW DELHI, Oct 12: Continuing its downward slide, industrial growth fell to 4.8 per cent in August this year from 7.3 per cent in the same month last year mainly on account of poor performance by the manufacturing and power sectors. Industrial growth during the first five months of April-August of current fiscal also dipped to 5.3 per cent compared to 6.2 per cent last year, according to the latest Index of Industrial Production (IIP) figures released by the Central Statistical Organisation (CSO) here. The manufacturing sector, accounting for more than three-fourths of the weightage in the IIP, fell quite sharply to 5.0 per cent in August this year as against 7.4 per cent registered last year. Cumulative growth in the manufacturing sector during April-August also declined to 5.6 per cent compared to 6.8 per cent in the previous year. The mining sector, however, continued its upward trend and recorded a growth of 6.8 per cent in August 2000 compared to 1.7 per cent in the same month last year. The five-month performance was even better at 4.7 per cent as against negative 0.3 per cent in April-August last year. Power sector also recorded a poor growth with 0.6 per cent in August as against a healthy 10.9 per cent growth rate in the same period last year, IIP figures said, adding that April-August growth fell marginally to 3.7 per cent compared to 6.1 per cent in the corresponding period last year. (PTI) |
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Sonata declares interim dividend of 20 percent BANGALORE, Oct 12: Sonata Software Limited today declared an interim dividend of 20 per cent for the current fiscal and announced a profit after tax of Rs 8.79 crore for the second quarter ending September 30. The company, whose board met here yesterday, said in a release that its earnings through international operations went up by 48 per cent to touch Rs.29.27 crores during the quarter as against Rs.19.82 crores during the same period last year. During the period it added seven new customers and revenue from e-commerce amounted to 52 per cent of the total revenue. The United States continued to be the major market accounting for 88 per cent of the total earnings. Company President and Managing Director B Ramaswamy said the company was well entrenched on the growth path and the current results reflect its consistent progress since it went public in December 1998. Effective from July one this year, the company transferred its Indian operations to Sonata Information Technology Limited (SITL). The combined revenues of Sonata Software Ltd and SITL amounted to Rs.62.61 crores, up 40 per cent over Rs.44.74 crores made during the corresponding period last year. Profit after tax was up by 67 per cent at Rs.9.15 crores as against Rs.5.49 crores for the same quarter last year. (UNI) |
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Phillipine designer helping Indian handicraft go global NEW DELHI, Oct 12: P J Aranador, a young Phillipine Designer who has made it to the international scene, is working with 25 Indian export houses to design contemporary lifestyle handicrafts for homes around the world. Over 1000 Aranador-designed objects including artmetal ware, handprinted textiles and scarves, embroidered and crochetted goods and imitation jewellery, will be on display at the ‘Indian handicrafts and gifts fair, Autumn 2000’ opening at Pragati Maidan here tomorrow. Aranador who has become one of the longest featured designers and consultants for the Centre for International Expositions and Missions (CITEM) has been roped in by the Export Promotion Council for Handicrafts (epch) to work with the Indian handicraft and gift exporters. India’s export of handicrafts in 1999-2000 was Rs 5923.60 crore. Though exports have been growing steadily for the last several years, India’s share in the world imports is very small. "India’s one of the important suppliers of handicrafts to the world market. Although exports of handicrafts appear to be sizeable, India’s share in the world imports is very small. Despite the existence of production base and a large number of craftsmen, India has not been able to encash existing opportunities", an expert paper brought out by EPOH has said. What is the problem after all? what do Indian handicraft houses need for a breakthrough in the world market? "Consumer perspective is changing. Ethnicity alone will not sell. You need to have a fusion of look, technique and colours. You can have Indian glass techniques but western designs", Arnador said in an interview with UNI. Arnador, known as PJ in the world art circle, said the call for the Indian craftsmen is to work on realistic and modern themes. "You have been having same products for the last 30 years. When you put up your objects at the international fairs, the buyer will ask you: what is new?", Arnador who began his design career as a creative staff for advertising firms said. Keeping pace with the times is fine, but how do you ensure that the ethinicity and the cultural originality is not compromised? This is not a big issue for Arnador who feels that business and the art have to go together. "Culture is built into people. The century-old Indian saree will continue to be in fashion but the design has to change", he said. Aranador, whose name will be a brand on some of the objects being displayed at the ‘Indian Handicrafts and Gifts Fair, Autumn 2000’, said that image of Indian products is changing to high-grade line concepts and quality. "Indicators to succeed in the global marketplace are on a strong forecast. The paradigm shift in new concepts in merchandising are definitely geared to usher in new business opportunities which many Indian producers are ready to serve", PJ said in his trend forecasts.(UNI) |
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