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Solectron Centum to demerge EMS division MUMBAI, Nov 6: Solectron Centum Electronics Ltd today said it will demerge the electronic manufacturing services (EMS) division into a new ,.........more UB
allots 42, 180 shares MUMBAI, Nov 6: Vijay Mallya’s United Breweries Ltd today said it has allotted 42,180 equity shares to the existing equity shareholders of . .........more Environmental degradation a cause of worry: Boussaid CASABLANCA, Nov 6: Environmental degradation costs Morocco some USD 1.84 billion a year, which is 4.6 per cent of Gross Domestic Product, .........more Umblical
Cord Blood NEW DELHI, Nov 6: Cord blood is generally discarded after child birth, but it is a new borns biological insurance against disease. A two billion dollar . .....more |
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Choice Hotels to add 8-10 budget hotels every year NEW DELHI, Nov 6: Hotel branding and marketing company Choice Hotels India plans to help establish 8-10 budget properties each year, as it seeks to .........more Small
fruit traders brace NEW DELHI, Nov 6: With Reliance Industries’ juggernaut rolling into the business of retailing fruits and vegetables, a number of traditional players in ..........more DoT
favourable to NEW DELHI, Nov 6: Amid reports of a possible delay in release of spectrum by the defence forces, Department of Telecom is understood to be going .......more Woodland
bets big on NEW DELHI, Nov 6: With international shoe brands betting big on India, homegrown footwear label Woodland has .............more |
Solectron Centum to demerge EMS division MUMBAI, Nov 6: Solectron Centum Electronics Ltd today said it will demerge the electronic manufacturing services (EMS) division into a new company, Solectron EMS India Ltd (SEIL). The board of directors approved the hiving off of the EMS division through a scheme of demerger with the appointed date of October 1, subject to necessary approvals, the Bangalore-based company informed the Bombay Stock Exchange. "This Demerger will bring better focus to the business and I am very excited about the various options for growth this demerger brings to the two business," Solectron Centum Managing Director Apparao Mallavarapu said. As per the demerger scheme the current share capital of Solectron Centum would be equally divided between the two companies, it added. For every two equity shares of Rs 10 each held by shareholders in Solectron Centum prior to the de-merger, the shareholders would be entitled to one equity share of Rs 10 in Solectron EMS India Ltd (SEIL) and in the company post de-merger. The share capital of the company on October 1, was at Rs 14.80 crore and 74 lakh shares of the company would be cancelled under the proposed scheme. Post demerger, the equity capital of Solectron Centum would be Rs 7.40 crore and the equity capital of SEIL would be at an identical Rs 7.40 crore. The demerger would be tax neutral in the hands of the shareholders and the companies. The shares of SEIL is proposed to be listed in the stock exchanges where the shares of the company are listed. Shares of the company were trading at its upper circuit limit at Rs 206.85 on the BSE. (PTI) |
UB allots 42, 180 shares to Mangalore Breweries MUMBAI, Nov 6: Vijay Mallya’s United Breweries Ltd today said it has allotted 42,180 equity shares to the existing equity shareholders of Mangalore Breweries and Distilleries Ltd, a subsidiary company. The company today informed the Bombay Stock Exchange that it has allotted 42,180 equity shares of Re 1 each in the company to the existing equity shareholders of Mangalore Breweries and Distilleries Ltd. The allotment of equity shares was as per the terms contained in the composite scheme of arrangement amalgamating Mangalore Breweries and Distilleries Ltd (a subsidiary company) into United Breweries. The composite scheme of arrangement was approved by Karnataka High Court in August this year. Shares of the company were trading at Rs 179.60, down 1.24 per cent on the BSE. (PTI) |
Environmental degradation a cause of worry: Boussaid CASABLANCA, Nov 6: Environmental degradation costs Morocco some USD 1.84 billion a year, which is 4.6 per cent of Gross Domestic Product, Minister in charge of Modernising the Public Sector, Mohamed Boussaid, said quoting a recent study. "The state of our environment is quite worrying and requires our vigilance and mobilisation," said the minister. He was speaking at the first national meeting of the pharmaceutical industry, "The Protection of Environment and Green Management of Pharmaceutical Sector", organised by the Moroccan Association of the Pharmaceutical Industry (AMIP) on Thursday. Morocco has followed the concept of sustainable development and has been using "clean technologies" since Rio Summit on Environment in 1992, Boussaid said. We have implemented a national plan on liquid sanitation and wastewater treatment and launched a global system of incentives aiming to protect environment, he added. Talking about the growth of pharmaceutical industry, he said the industry recorded investments reaching about 35 million USD and generated an added value estimated at some USD 230.6 million (AGENCIES) |
Umblical Cord Blood Banking, India set to be key player NEW DELHI, Nov 6: Cord blood is generally discarded after child birth, but it is a new borns biological insurance against disease. A two billion dollar market worldwide, cord blood banking is fast coming up in India, with many big players foraying into collection, isolation and storage technologies for cord blood stem cells. India’s first cord blood stem-cell bank, LifeCell, was launched two years back. Reliance Life Sciences too has entered into the field. Cryobanks recently announced setting up seven banks across the country. Cord blood is the blood that remains in the umbilical cord after the baby is born and the umbilical cord is cut. Although once considered medical waste and thrown away, researchers have found that cord blood is rich in stem cells that are more precious than those found in the bone marrow or another part of the human body to treat diseases. "Umbilical cord blood stem cells have already been effectively used in the treatment of sickle cell, leukemia, non-Hodgkin’s lymphoma, other forms of cancer, life threatening anaemia, and auto-immune diseases," says Dr Mrinalini Chaturvedi, Medical Director of Cryobanks. Globally over 7000 cases of Cord Blood Stem Cell transplants have been reported and the list of diseases treatable by umbilical cord stem cells continues to grow. In recent years, cord blood transplants (CBTs) have become widely recognized as a safe, effective, and in many ways preferable, alternative to bone marrow transplant (BMT), according to Dr Naresh Trehan, well-known cardiologist. In the very near future, these cells could be used to regenerate heart muscles and impact neurological disease treatment, says Dr Trehan. Parents of new-born babies can now store their childs stem cells from the umbilical cord of their newborn baby with a laboratory. Many therapies are expected over the next two to five years that promise cure for several diseases. And storage banks are also multiplying across the country, promising to store them at about half the cost in US. However, Dr Trehan, advisor to one of the cord blood banks, says awareness among parents about storing the cord blood is still low. Such banks have been in existence in the west for last few years now. It was the right time to make a beginning in India. The cord banks, meanwhile are looking at creating awareness among public and doctors about the potential of cord blood. We are looking to create awareness among general public of the revolutionary advancements in medical sciences as regards stem cell therapies, says Dhara Jaipuria, Chairperson of a cord blood bank. At present stem cell therapy is being done in India on a very low scale. The need of the hour is to have an effective stem cell transplant programme, says Dr Chaturvedi. With ethnic diversity and massive population base, India can be a key centre for cord blood stem cell storage in the world, she says. Right now, the cord blood is being collected for those who want to store it, for a fee. But once voluntary donations start coming in, the data base could be expanded for use by others, both within and probably outside the country, says Dr Trehan. Since no ethical issues are involved, there should not be much problem in permitting its use for people needing it outside the country, he says. Cord Blood stem cell transplant is being seen as the future of medicine the world over. Last year President Bush signed into law a bill to underwrite stem cell research that does not harm donors, he says. Storing a babys cord blood stem cells gives a rare opportunity to the family to take advantage of the rapidly evolving medical technology associated with stem cell therapies. Cord blood stem cells are not just for the baby. It’s really an investment for the whole family. Virtually half of siblings, and many in immediate family, may find a suitable match in the baby’s stem cells, says Dr Chaturvedi. An NRI is infact setting up a Registry of cord blood units for Indians and anyone needing cord blood can look for an match there, says Dr Trehan, noting, these are very positive developments which will help in such banks becoming popular with the people. (PTI) |
Choice Hotels to add 8-10 budget hotels every year NEW DELHI, Nov 6: Hotel branding and marketing company Choice Hotels India plans to help establish 8-10 budget properties each year, as it seeks to tap the potential in the mid-market segment. The hotels, which would be constructed in the next 2-3 years by real estate developers, would involve an investment of about Rs 700-750 crore. "The company currently has (helps marketing) 30 hotels across 22 destinations in the country and we are looking to add 8-10 properties to this number every year for next 2-3 years. Our expansion plans would see the promoter companies invest about Rs 700-750 crore in the next 2-3 years," Choice Hotels India CEO Vilas Pawar told PTI. Total room capacity of the company would increase to 3,000 from the current 2,000 once the expansion is undertaken, he said, adding that the budget hotel segment was still largely untapped and the company forsees huge opportunity in the sector. He said Choice Hotels so far has been involved in marketing and branding of hotels, but it would soon commence management of its properties as well. "We will be managing all our budget hotels in the metros and major cities from March next year. This would not only help us add to our bottomline figures but even build our brand image further," Pawar said. The company flag in India represents four brands namely Quality Inn, Comfort Inn, the recently launched Clarion Hotels and Sleep Inn. Choice Hotels India franchises Quality and Comfort Inn brand hotels throughout India, with hotels in Ahmedabad, Aurangabad, Corbett, Chennai, Delhi, Hyderabad, Lucknow, Mumbai, Manali, Mussoorie, Panchgani, Pune, Shimla and Thiruvananthapuram. The company would expand the portfolio of its upscale brand Clarion in Hyderabad, Bangalore, Chennai, Pune, Ludhiana and Chandigarh soon. "While properties for five Clarion Hotels, to come up in the next two years, have been signed up, four properties for Quality and two for Comfort have also been finalised," he added. Choice Hotels International markets more than 5,000 hotels across 40 countries. (PTI) |
Small fruit traders brace for Reliance retail caravan NEW DELHI, Nov 6: With Reliance Industries’ juggernaut rolling into the business of retailing fruits and vegetables, a number of traditional players in this segment are eyeing tie-ups with foreign firms and hiring experts to take on the competition. When RIL opened its first agri-retail outlet in Hyderabad last week, Delhi-based Dev Bhumi Cold Chain was busy negotiating with a Dutch professional, while another has floated a joint venture with an Irish company. Established players in the fruits and vegetables sector are preparing for the future when they will have to compete with big brothers like Reliance, Bharti, ITC, etal. If one small Indian company is hiring a former Nestle executive from Holland to oversee its quality management in fruits, another company has tied-up with a leading multinational distribution company to derive maximum benefits from their expertise. Dev Bhumi Cold Chain, which has appointed Dutch national Roberrt Blokker as President-operations, has a storage capacity of 10,000 tonnes in both Delhi and Himachal Pradesh and plans to increase it to 40,000 tonnes with an estimated investment of Rs 60 crore in the next five years, its Director Anil Dwivedi told PTI. Another fresh fruit trading company Suri Agro Fresh has tied up with a 2.6 billion dollar Irish company Fyffes for a 50:50 joint venture. "We have been getting benefits from their expertise as they come to hold workshop for better crop management as well for guiding us in matters of harvesting to packing," Suri Agro Fresh’s Managing Director Hitin Suri said. Dev Bhumi, which made a futile foray into agri retailing a year ago with an outlet at Delhi’s upmarket Ansal Plaza, has revised its strategy and is now focussing on supply of fruits to retail chains like Namdhari and Subhiksha chain of stores. "Opening the company’s outlet at Delhi’s upmarket Ansal Plaza was an experiment for us," he said. On the need to hire a foreign hand, Dwivedi said: "We have hired his services to improve quality and thus volume through better crop management." The Dutch professional, who has varied experience in retail distribution, is confident that he would be able to increase the production by 20 per cent. "If I am able to increase production by 20 per cent to five tonnes per hectare, it would be a big difference in the company’s share," Blokker said. Suri also believes on similar lines. "Price realisation should come through increasing the volume, not the rates of fruits," he said. The small players appear undeterred by big companies like ITC, Reliance and Adani group focussing on Himachal Pradesh for apple procurement. In fact, Dev Bhumi Cold Chain has been constructing a large controlled-atmosphere (CA) cold storage at Matiana in Shimla district with a view to increase the shelf life of fruits. "If apples are put in the CA cold store immediately after being plucked from the orchards, they can be as fresh even after three years," Dwivedi said. His firm plans to stock 40 per cent of its procurements for supply during off-season for better price realisation. The strategy of the small companies is to rope in a partner from abroad so that quality of fruits is improved, an official of a trade body said. (PTI) |
DoT favourable to TRAI’s 3G spectrum pricing recommendations NEW DELHI, Nov 6: Amid reports of a possible delay in release of spectrum by the defence forces, Department of Telecom is understood to be going ahead with regulator TRAI’s recommendations on auctioning the airwaves with a reserve base price. DoT is quite positive to the recommendations submitted by the telecom regulator on the auction of 3G spectrum, sources said. 3G, the generic term for next generation mobile services, will enable operators offer seamless service for applications like Internet browsing, mobile TV, e-mails, video streaming. Given the (successful) experience in 2G spectrum (voice telephony as well as normal data services) and taking the current scenario into a totality consideration, TRAI’s 3G proposals can be a given a consideration, they added. But the views of the other sides, which consider the proposal as a return to the earlier licensing regime when telecom companies bid higher for licenses would also be taken up in the right earnest, they said. Cellular operators will be disappointed if the current TRAI recommendations are implemented. The Expert Panel working on finalising the allocation of 3G-spectrum policy for telecom companies is planning to come up with its findings on 3G allocation and pricing by December. The Telecom regulatory Authority of India (TRAI) had recommended a base price for allocation of spectrum for 3G at Rs 80 crore for Delhi and Mumbai, Rs 40 crore for Chennai and Kolkata and Rs 15 crore for other C category cities. "Even though there is a strong possibility of DoT going along with the TRAI recommendations, we will have to work out the pricing for allocation. If this pricing model is adopted finally, DoT would generate a revenue of around Rs 1,400 crore from the base price alone," a source said. In the first round, DoT is planning to reserve at least one of the five spectrum slots for PSUs like BSNL and MTNL, which leaves just four slots of 5 Mhz each for the private players. Operators have to bid for the spectrum for 3G services. Ministry of Communications has also given a positive signal to the recommendations filed by the regulator. Minister for Communications and IT Dayanidhi Maran had also proposed to launch 3G mobile services in the second half of 2007. (PTI) |
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Woodland bets big on India; to set up 60 new stores by 2008 NEW DELHI, Nov 6: With international shoe brands betting big on India, homegrown footwear label Woodland has embarked upon a major expansion plan that envisages doubling production capacity and setting up 60-70 new retail stores in the next two years. "Demand for our products has grown in the past few years. We would invest about Rs 10 crore to set up three new facilities in Uttaranchal to cater to the increased demand," Woodland Shoes Managing Director Harkirat Singh told PTI. The company currently has a production capacity of 6,000 pairs of shoes per day. The new units, likely to be ready by 2007-end, would take its capacity to 10,000-12,000 pairs. "We are well-placed to achieve a turnover of Rs 200 crore in the current fiscal and are anticipating a topline of Rs 350 crore in the next two years," he said. The company is planning to open 60-70 new retail stores by 2008 to strengthen its presence in the country. The new stores would come up in metros and Tier-I cities and would take the total number of exclusive Woodland stores to 195. "About 50 per cent of our stores are owned by us and 50 per cent are based on the franchise model. We would follow the same model for our new stores, where around 50 per cent of the stores would be owned by the company," Singh said. Apart from shoes, the company is also looking to actively market its apparel and accessories brands. It would set up two new facilities to double its capacity to 6,000 pieces a day from the current 3,000 pieces. "Our clothing line is well received by customers and we want the apparel segment to contribute much more to revenues. We are targeting the apparel segment to contribute 30 per cent to our revenues in the next few years," Singh said. (PTI) |
SC asks Centre to tackle ragging in colleges and universities NEW DELHI, Nov 6: The Supreme Court today asked the Centre to set up a committee to look into steps to be taken to curb incidents of ragging in colleges and universities. A bench headed by Justice Arijit Pasayat asked the concerned ministry to constitute a committee on the lines of one which recently came out with a slew of steps to curb violence and use of money power in the elections to university student unions. The court has granted the Centre a period of three weeks to take action in this regard. A committee headed by former Chief Election Commissioner J M Lyngdoh had recommended several measures to curb it. (PTI) |
GTL allots over 325,000 shares upon FCCB conversion MUMBAI, Nov 6: Leading network services provider, GTL Ltd today said it will allot 325,850 equity shares upon conversion of FCCBs worth Rs 2.90 crore (Swiss Francs (SFR.) 812,621.70). The committee of board members, at a meeting today, considered and approved the allotment of 325,850 equity shares of Rs 10 each for cash at a premium in terms of the offer document to FCCB holders, GTL informed the Bombay Stock Exchange. The allotment was consequent to the the exercise of right of the bond holders to convert FCCBs worth Rs 2.90 crore (Swiss Francs (SFR.) 812,621.70). Shares of the company were trading on Rs 147.50, up 2.32 per cent on the BSE. (PTI) Central railways freight earnings up 32 pc NAGPUR, Nov 6: Central Railways has recorded a 32 per cent rise in freight and 11 per cent in passenger earnings so far during the current financial year, a top official today said. By running extra summer specials and upgrading the class of travel, Central Railways has added Rs 1.5 crore to its kitty and over 1,200 trains were plied during the peak summer season, its General Manager V K Kaul told reporters here. On the security front, he said Central Railways has added 21 sniffer dogs to the existing number of four. Close circuit TVs were being installed at Nagpur and other important stations and all entry points will have metal detectors. Besides, RPF personnel were being provided with hand-held metal detectors, he said. Kaul also inaugurated the Railtel Cyber Express at the Nagpur Railway Station, which became the 13th station in the country to have a Cyber Express and fourth such in Central Railways. (PTI) |
Bihar’s economy to boom with investments in sugar sector PATNA, Nov 6: The economy of Bihar, one of India’s most underdeveloped states, is poised to grow rapidly thanks to the sugar industry attracting private investments to the tune of Rs 4,600 crore. "The sugar sector in Bihar seems to be the most-preferred investment destination where our Government has already sanctioned proposals in private sector for 10 sugar mills and received detailed project reports for 15 other sugar mills with the letter of expressions from the private entrepreneurs to invest a whopping Rs 4,620 crore," Sugar Minister Nitish Mishra told PTI today. The move comes amid the changing industrial climate propelled by marked improvement in law and order and measures for wider reforms under the new industrial policy taken by the year-old Nitish Kumar Government, he said. Mishra said out of the 15 sugar mills having shown interests for pumping in money, the State Investment Promotion Board had cleared the project reports for six. The ten sanctioned sugar mills would have the capacity to create direct job opportunities for 10,000 people with over an above engagements for about two lakh people, he said. The places where the sugar mills would come up are Kotwa, Marukiya, Kewalpura, Rasulpur, Madhuvan, Udakishunganj, Bahadurpur, Chorma, Pakaridayal and Asthawan. The projects which got clearance from the Investment Promotion Board are for the sugar mills to be installaed at Guruwalia, Rajaun, Barhanbenusar, Nariyar, Nawagaon and Supaul, the minister said. Elaborating on the detailed project reports, Mishra said these projects would increase the cane crushing capacity of the existing sugar mill by 78,500 Tonne Crushing Capacity per Day (TCD). Complementing it, the minister said, the existing sugar mills at Gopalganj, Sidhawalia, Riga, Harinagar, Majhaulia, Hassanpur, Sasamusa and Narkatiaganj have started expanding their capacity and the measures taken would augment their cane crushing capacity from 37,200 tcd to 53,000 tcd. According to an official statement here, concerted efforts, meanwhile, are being made to promote the sugar sector and for it the State Government had sanctioned Rs 8.84 crore for the payment of loans due to the cane groweres. Mishra said the cane research institute at Pusa had discovered high-sugar yield varities like bo-141 and bop-145 and the insurance policy had also been introduced for the cane-growers if their crop got damaged. The State Government had also allotted Rs 4.51 crore for cane research from its share, while Rs 2.85 crore was earmarked under the Central scheme, he said. Mishra said land acquisition works for the new sugar projects was in progress and the State Government would provide all possible assistance to the private entrepreneurs to have their projects under the new industrial promotion package. In reply to a question, Mishra said the new and old sugar mills together would lead to augmentation of the cane crushing capacity to 1.22 lakh tonne crushing per day, which would require cane coverage in over 6.31 lakh hectare. (PTI) |
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