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Panasonic India unveils new range of mobile handsets Excelsior Correspondent NEW DELHI, May 9: Panasonic India, the consumer durables and electronic major, today announced the launch of its new range of mobile phones in the .........more IJT to
have powerful BANGALORE, May 9: Hindustan Aeronautics Limited has roped in Russia’s NPS Saturn, the engine manufacturer for the.....more NEW DELHI, May 9: After remaining at 4.40 per cent for two weeks in a row, the annual rate of inflation for the week.....more Tatas eye
beyond NEW DELHI, May 9: The Tata group has decided to focus on value creating acquisitions .......more |
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Royal Challenge becomes first millionaire premium brand Excelsior Correspondent NEW DELHI, May 9: Royal Challenge has become the first premium .......more IOB’s operating profit zooms by 7% Excelsior Correspondent JAMMU, May 9: The Indian Overseas Bank has posted an impressive ....more Indian IT
exports NEW DELHI, May 9: India’s trade volume with the European union, particularly in the...more FIIs net
sales of MUMBAI, May 9: The Foreign Institutional Investors have netted sales of Rs 56.8 ......more |
Panasonic India unveils new range of mobile handsets Excelsior Correspondent NEW DELHI, May 9: Panasonic India, the consumer durables and electronic major, today announced the launch of its new range of mobile phones in the Indian market, each model having an amazing feature to talk about. These three new models, X70, X66 and G51, features new technology innovations to suit both high end and mid-range segments. The new range aims at making mobile phones easy to use and fun to communicate with. The latest offering from Panasonic is the newest addition to Panasonic’s wide range of products in their mobile handset segments. The Panasonic X70-a camera phone with a built in flash, comes with a sleek design to help shoot even in low light conditions. Its unique multi-shot feature that clicks upto 6 images in 10 seconds flat allows you to capture action as and when it happens. Other key features include incredible 4 MB memory that can store upto 400 images, 500 phonebook memory, wherein one can store 4 telephone numbers, 3 e-mail ids, designation, company name, can add a note and can also have a assigned photograph to that entry. The phone is available in Titanium, Gold and Silver colours. This phone is priced at Rs 18,635. On thing that would amaze you about this X66 is its size. It is super mini camera phone with built in CMOS Camera with a 300 SMS storage capacity. It has a 2.2 MB shared storage space along with multimedia entertainment and information services capabilities. The phone is priced at Rs 14750. After launching the world’s smallest mobile phones, Panasonic has created history again by adding to its bouquet the world’s smallest colour screen mobile phones-G51. G51 is stunningly different pint sized mobiles packed with exciting fun features. The phone is prized at Rs 8315. |
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IJT to have powerful Russian engine BANGALORE, May 9: Hindustan Aeronautics Limited has roped in Russia’s NPS Saturn, the engine manufacturer for the Sukhoi series, to build a higher thrust engine to power the indigenous intermediate jet trainer, which the aviation major plans to produce for the Indian Air Force. The 1700 kg thrust engine Al-55 I will be developed by the Russian firm in 36 months and integrated into the IJT’s, replacing the existing larzac engine, manufactured by the French Snecma moteurs with a lower 1,400 kg thrust, being used in the first two prototypes of IJT undergoing developmental test flights. "We required a more powerful engine and Snecma offered to build for us one. But the costs were high and we went for an international bidding, where the Russians offer was competitive," HAL chairman N R Mohanty told PTI here today. Though the value of the Russian order is not known, he said, it would be cheaper and help HAL to be cost-competitive with its trainers. He said all the IJT’s for the IAF will be powered by the Russian engine including the 16 trainers, which will form IAF’s next "Surya Kiran" aerobatics team. The IJT, designed and built in a record 22 months time, was first flown in March last year aageing piston-engine Kiran trainers currently in service with the IAF. The IAF has over 225 Kirans that will be replaced by the IJT beginning 2007. "We will manufacture the engine at our Korhaput plant as infrastructure already exists with building the Al-31 FP engines for the Sukhoi 30 MKI fighters," Mohanty said. HAL, he said, may source engines, if required, to advance the time schedule of delivering the IJTs. "Once the certification of the aircraft is over by this year and we get the orders from the IAF, we will begin building the IJTs and once the engine comes it will be integrated into the aircraft. Integrating the engines is a matter of a few days", Mohanty said. The IJTs’ (Hindustan Jet Trainer-36) have a modern cockpit, with French, British and Indian avionics and are a logical progression for the student pilots from HPT-32 piston-engine trainer aircraft to prepare him for stage III flying training on the advanced jet trainer or lead-in fighter aircraft, HAL officials said. (PTI) |
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NEW DELHI, May 9: After remaining at 4.40 per cent for two weeks in a row, the annual rate of inflation for the week ended April 24 declined to 4.26 per cent due to decline in prices of edible oil, poultry and textiles. The point-to-point Wholesale Price Index-based rate of inflation was 6.7 per cent in the same week a year ago. Meanwhile, the Government has revised downwards the rate of inflation for the week ended February 28 from 5.32 per cent to 5.21 per cent. The final WPI for this period was corrected to 179.8 from 180. The index for primary articles rose by 0.6 per cent to 184.3 from 183.2. The index for food articles group rose by one per cent to 183.2 from 181.4 during the previous week due to higher prices of fish-marine and mutton (4 per cent) each, fruits and vegetables, jowar and eggs (3 per cent each), fish-inland two per cent and maize, ragi and gram by one per cent each. However, the prices of poultry chicken fell by 5 per cent and that of bajra, arhar and urad declined by one per cent each. The index for non-food articles group fell by 0.3 per cent to 190 from 190.5 during the earlier week due to lower prices of soyabean (4 per cent), rape and mustard seed (3 per cent), castor seed (2 per cent) and copra and raw silk by one per cent each. The prices of coir fibre, however, moved up by five per cent and raw jute and groundnut increased by one per cent each. The index for the major group of fuel, power, light and lubricants remained unchanged at the previous week’s level of 263.6. For the manufactured products, the index rose by 0.3 per cent to 161.6 from 161.1. The index for food products group rose by 1.4 per cent to 174.7 from 172.3 during the previous week due to higher prices of oil cakes (8 per cent), gur (4 per cent), khandsari (3 per cent) and gingelly oil, sugar and ghee by one per cent each. However, the prices of rape and mustard oil fell by 3 per cent while that of cotton seed oil, processed tea and sunflower oil declined by one per cent each. The index for textiles group declined by 0.6 per cent to 137.1 from 137.9 for the previous week due to lower prices of cotton yarn-hanks (3 per cent), hessian and sacking bags (2 per cent) and hessian cloth by one per cent. The prices of mixed fabrics, however, moved up by 9 per cent. For the beverages tobacco and tobacco products, the index rose marginally to 208.4 from 208.3 due to a two per cent rise in prices of Zarda. The index for rubber and plastic products group increased by 0.2 per cent to 136.2 from 135.9 due to a 13 per cent rise in prices of giant tubes. Basic metals alloys and metal products group saw the index rising by 0.6 per cent due to increase in prices of ordinary casting by 26 per cent. For the machinery and machine tools, the index declined by 0.1 per cent to 133.8 from 134 due to lower prices of electronic IC’s (6 per cent), semi conductors by 2 per cent and ball bearings by one per cent. The prices of mono block pumps, however, moved up by 3 per cent. The index for transport equipment and parts group rose by 0.1 per cent to 149.7 from 149.5 for the previous week due to a two per cent hike in prices of other automobile spare parts. (UNI) |
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Tatas eye beyond India for value acquisitions NEW DELHI, May 9: The Tata group has decided to focus on value creating acquisitions with a thrust on non-cyclical new businesses to look beyond domestic dominance. "We are not carried away by globalisation bandwagon. We have chosen specific geographic locations where our density of operations will be further intensified," Tata sons executive director R Gopalakrishnan stated. Like the TCS establishing a major presence in the UK, Tata international is expanding its office in South Africa and its passenger car Tata Indica is finding ready takers in competitive markets abroad. "It is all about selective zeroing in on foreign markets where one of its products or services get ready recognition and then gradually spreading out from there leveraging market acceptance," he added. Mr Gopalakrishnan pointed out that brand value has to be created through product delivery and just cannot be bought by listing the company’s stocks in foreign bourses. On the perceived notion of TCS not being aggressive in the market in comparison to other it leaders like Infosys or Wipro, he said in a statement that on the contrary, TCS is a market leader in the Rs 1,000 crore domestic software and it solutions market. Besides TCS, its newly acquired CMC, Tata infotech and Tata technologies, all contribute to around 10 per cent of its gross business volume. Tata sons earns foreign exchange to the tune of 2.5 billion dollars through exports, averaging 5.1 per cent of India’s total export basket. Brand tracking through sample study by querying stakeholders shareholders, media, Government officials, and lenders on what they perceive of Tata products has revealed that its brand image has improved upon its slender margin over its nearest competitor. Today, the company’s brand-driven sales have jumped from 19 per cent over a decade ago to 41 per cent indicating how its brand equity has won the trust of end-consumers. "Tatas invest on human resource as there is a perceptible shift towards ‘knowledge workers’ who now constitute 33 per cent of 3.10 lakh workforce with the steady decline of ‘Bargainable’ employees from a mighty high of 90 per cent in 1992-93," Mr Gopalakrishnan said. More than cost cutting measures, improved productivity, reliable product delivery and an increasing global recall of its brand equity, he noted, it is the community goodwill that has accrued to tatas for their social outreach that will provide moral backbone to acquire a larger MNC brand identity in offshore markets. Since 1991, the group has invested around Rs 2,700 crore to consolidate its varied business interests and plan ahead with renewed vigour. "We have increased our ownership through equity holding in individual companies to not less than 27 per cent. Moreover, we have restructured our business portfolio in the last 5-7 years to promote a powerful brand identity," he added. On some troublesome sectors like cosmetics, toiletries, pharmaceuticals and airlines, the executive director said the company has exited for good and forayed into new age economy with rare dynamism. "And so we have Tata’s brand image writ large on the automotive and auto components, IT and software, Telecom, retailing and insurance, though IT ventured into these segments in the early 19090s," Mr Gopalakrishnan said. Tata’s redefined business strategies have resulted in cumulative growth of 13 per cent in annual sales from Rs 15,086 crore in 1992-93 to Rs 52,134 crore in 2002-03, resulting in its profit after tax reaching Rs 3,893 crore from Rs 724 crore for the same period during the previous year. The new technology of software, telecom and automotive has risen to 23 per cent of their total business volume in 2002-03 from a low of four per cent a decade ago. However, its traditional enterprise in steel, power and chemicals still contributes 35 per cent to its topline (54 per cent a decade ago). A wide range of engineering enterprise, consumer products, retailing, financial and hospitality industry comprise the rest of the 42 per cent of its business interests. "No, we are not in anyway suppressing or putting down the traditional sector. But now we are applying modern technology to project our key strengths in traditional industry," he added. (UNI) |
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Royal Challenge becomes first millionaire premium brand Excelsior Correspondent NEW DELHI, May 9: Royal Challenge has become the first premium whisky to clock one-million-case sales in a year. Recording a growth of 16 percent in the year ended March 31, 2004. Royal Challenge accounted for more than 65 percent of the 1.5 million case premium whisky segment of Indian Made Foreign Liquor (IMLF) industry. It is significant to note that it is in the premium whisky segment that the maximum competition from international brands is witnessed. This segment includes brand priced in the range of Rs 350-500 per unit (750 ml). Over the past few years, many global majors have placed their brands in this segment, pitched directly against Royal Challenge. "The two factors responsible for continued leadership of Royal Challenge are the consistency of its superior blend and the gradual evolution of the brand imagery in step with contemporary trends", said A K M A Shamsuddin, president Shaw Wallace. Launched by Shaw Wallace in 1982, the brand has been a segment leader over the last two decades. Within two years of its launch, it touched the sales figure of one lakh cases. In 1990, it crossed the five lakh case sales mark. In India Royal Challenge has been a favourite of a generation that has arrived in life. For long, it has held high aspirational value for the upwardly mobile. In view of the rise in corporate incomes at all levels, there is a vast emerging segment for premium brown spirits comprising young executives. Royal Challenge is leading the charge in this segment by holding tremendous appeal for the young executives as a brand that is premium and preferred by those who continuously challenge themselves. The strategy to connect with the younger consumer includes promotion of corporate golf, sponsorship of strategy summits with management gurus and a new campaign. What is life without a Royal Challenge. The new communication seeks to portray that RC Man as a young contemporary male who exudes relaxed confidence. |
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IOB’s operating profit zooms by 7% Excelsior Correspondent JAMMU, May 9: The Indian Overseas Bank has posted an impressive performance during the year ended 2003-2004 and continued to surge in all major areas of operations. The Bank, which has been growing at a rapid pace during the last four years, has registered a record rise in the Operating Profit from Rs 794.13 crore to Rs 1325.20 crore in 2003-2004 (67 percent growth over the previous year). The net profit of the Bank rose from Rs 416.10 crore to Rs 512.76 crore during 2003-2004. The Bank took a conscious decision to set aside enhanced provisions and contingencies at Rs 812.44 crore as against Rs 378.03 crore. This apart, unallocated NPA provisions for Rs 330 crore have also been made. The Bank has also made increased provision for Income Tax for Rs 221 crore, an increase of Rs 171 crore over the previous year. The Bank made provision of 3.23 percent towards investment fluctuation reserve and has confident of meeting the 5 percent norm stipulated by 2006. The Bank witnessed steady rise in core lending operations, which along with strict control on overheads contributed to the rise in the profit. Interest earning witnessed substantial growth by Rs 268.20 crore during the year. Non interest income went upto Rs 220.76 crore in line with the Bank’s action plan to boost the profitability. The Bank’s strategy to increase low cost resources paid off as its share SB deposit moved from 23 percent to 25 percent in March 2004. Efficient deployment of foreign currency deposits, resorting to derivatives like currency swaps, interest rate swapted increased promotion of low cost resources and efficient asset liability management resulted in domestic net interest margin rising from 3.14 percent to 3.62 percent in March 2004. |
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Indian IT exports to EU poised for high growth: ESC NEW DELHI, May 9: India’s trade volume with the European union, particularly in the software segment, is set to expand significantly in the wake of the recent accession of ten more countries, making the eu a 25-nation bloc, according to the electronics and computer software Export Promotion Council (ESC). At present, the trade between India and the new accession countries is only 1.5 per cent of India’s trade with EU15. This would suggest that trade diversion as a result of enlargement may be significant, ESC chairman P K Sandell said today. The accession of new members will throw up larger growth opportunities for the Indian IT companies since India has already built a good brand name in the EU countries, particularly in the software segment, he said. The ten new EU members are Czech, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia, Malta and Cyprus. EU has emerged as the world’s largest trading bloc accounting for 20 per cent of international trade and would contribute more than 25 per cent of the global GDP. This will, undoubtedly, benefit India through an even larger single market with a single set of rules for business and a very open economy with a high standard of rules. Small and medium enterprises will get immense opportunities to interact with buyers, understand their requirement, convince them and deliver the best software and solutions. ESC has prepared a detailed report of the opportunities and challenges of India in the expanded EU. The total electronics and software exports to EU, including the newly joined countries was Rs 12,120 crore (2,504 million dollars) in 2002-03 as compared to Rs 9,831 crore (2,061 million) in the previous year. This represents a growth of 20 per cent. Mr Sandell said India has been exporting a number of it goods to the newly joined countries in the EU. For instance, India has been exporting it goods (hardware and software) to the newly joined EU countries to the tune of Rs 84 crore. Major items of exports are soft ferrite, circuit boards, relays, onsite services and computer software to czech, project services to estonia, personal computer, onsite services, pacemakers for heart, computer software for Cyprus, transformers to Latvia, CD recordable to Lithuania, consultancy services to Hungary, onsite services to Malta, parts of cathode ray tubes to Poland, hard ferrite to Slovenia and computer software to Slovakia. Mr Sandell said ESC has identified the potential areas of cooperation between India and EU in the it segment. This includes content development in English, software development, software for banking, data warehousing, geographical information system, it education and training, it applications, telecom solutions, internet technologies, e-governance, remote billing, healthcare and onsite and offsite services. (UNI) |
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FIIs net sales of Rs 56.8 crore in equities MUMBAI, May 9: The Foreign Institutional Investors have netted sales of Rs 56.8 crore for equities while abstaining from the debt market for the trading week ended May seven. Mutual funds also recorded net outflows of Rs 58.08 crore in equities but netted purchases of Rs 435.31 crore in debt instruments for the period under review, according to the data available with Securities and Exchange Board of India. FIIs were net buyers for first two trading days at Rs 25.2 crore (5.6 millionn dollars) and Rs 66.5 crore (14.8 million dollars) in the equity market. They netted sales of Rs 95.5 crore (21.2 million dollars), Rs 38.1 crore (8.5 million dollars) and Rs 14.9 crore (3.3 million dollars) on May 5, six and seven respectively. In the debt market, the foreign funds did not transact for a single day. MFs were net sellers in equities at Rs 61.88 crore on May four and Rs 35.44 crore on the next day while registering net inflows of Rs 32.01 crore on the first day of trading week. On the debt front, MFs were net buyers at Rs 248.91 crore, Rs 149.38 crore and Rs 37.02 crore on May 5, 6 and 3 respectively. The BSE-30 share sensitive index opened slightly lower at 5645.86 as against last weekend’s close of 5655.09 and fluctuated in a wide range between 5772.64 and 5506.00 before concluding at 5669.58, a nominal gain of 0.26 per cent. (PTI) |
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Self-adhesive labels on DVDs can cause data loss HANOVER, May 9: It’s dangerous to adorn home-burned DVDs with self-adhesive labels. Applying such labels can lead to data loss, warns the hanover computer magazine C’t. The labels end up warping the discs to the point that the information stored on them cannot be read. CDs are less sensitive, reports a test in the same magazine. For those who value print quality, spending a little extra is a smart move. Photos and graphics look better on more expensive glossy labels than on the plain matt paper labels. Experts do warn that putting labels on CDs is not without risks. Severe temperature changes, as in a car, can cause the labels to separate from the discs, potentially gumming up the CD player’s mechanics. (DPA) |
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Govt should divest only sick PSUs: Govindacharya DEHRADUN, May 9: The Government should not privatise the profit-making and strategic public sector undertakings, said former Bharatiya Janata Party (BJP) leader K N Govindacharya. Taking to UNI here, Mr Govindacharya said, "no one in the country is against the concept of disinvestment but than there should be a clear cut policy guideline and it should be backed-up by transparency to clear the public conception on this". He said there was no justification in disposing of the profit making or the strategic companies either to the foreign multinational or to the domestic multinational or a select few. So long the disinvestment of the PSUs will continue in this fashion no benefit from it could trickle down to the public, he added. He said opening up and disinvestment are two different aspects. "so far as the monopoly of PSUs’ is concerned in the oil sector, it is virtually gone when the sector was opened up for the private companies, so there is absolutely no need for privatisation of these national assets," he emphasised. (UNI) |
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Housing loan rate may rise after six months NEW DELHI, May 9: The interest rates for the housing loans are likely to remain stable for the next few months with upward bias after five and six months, HDFC managing director Keki M Mistry has said. "In the next few months at least, there’s so much of liquidity in the system, that unless the liquidity suddenly dries up, which I think is very unlikely, you’ll continue seeing interest rates remaining more or less where they are. For the next five or six months, probably you’ll see interest rates at these levels. After that, maybe you may start seeing interest rates inching up a little bit," Mr mistry told CNBC-TV 18. The HDFC loan disbursements have grown by 28 per cent while its interest margin has moved up to around four per cent,he said. (UNI) Airtel acquires majority stake
in Hexacom JAIPUR, May 9: As part of its expansion drive, Bharti tele-ventures today announced it had acquired 67.5 per cent stake in Hexacom, a leading private-sector mobile service provider in Rajasthan, for Rs 430 crore. "The entire acquisition transaction is principally a share swap deal wherein shares/Optimally Convertible Redeemable Debentures (OCRD) of Bharti tele-ventures have been issued to the Shyam group as a swap for their holdings in Hexacom," Bharti tele-ventures chairman and managing director Sunil Mittal told reporters. He said the Rs 430 crore deal was funded by issue of OCRDs for Rs 375 crore and balance in cash. Hexacom’s oasis service had a 41 per cent market share in Rajasthan with 2.65 lakh customers as on April 30, 2004. "We have got a jump start because we have ‘merged’ with a company that enjoys leadership position in Rajasthan," Mr Mittal said. With the addition of the Rajasthan circle, Bharti’s All India Mobile Customer base would stand at over seven million, he said. The company has plans to invest over Rs 200 crore in Rajasthan over the next 18 months. The company brand ‘Airtel’ would be launched in the state within the next three months. "We are planning to increase the penetration of our mobile service across Rajasthan from the present 62 towns to more than 150 towns in the next 18 months," he said. Bharti tele-ventures already offers mobile services in 15 of the 23 telecom circles in India. It is also providing fixed line services in five circles, he informed. He said the company was also planning to expand its services in Assam, the other north-east states and the Andaman and Nicobar Islands. (UNI) |
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