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| Silverlines’ exhibition attracting crowd Excelsior Correspondent JAMMU, Oct 11: Silverlines which launched Exhibition-cum-sale of Solitaire from October 9, to be concluded on October 14, has been receiving wide spread response from the customers..........more BSEL Infrastructure forms JV with Unity Infraprojects MUMBAI, Oct 11: BSEL Infrastructure Realty Ltd today said it has formed a joint venture with engineering and construction company Unity Infraprojects Ltd for participating in the .......more Madura Garments floats branded footwear line NEW DELHI, Oct 11: Apparel brands manufacturer Madura Garments will soon enter the Rs 3,000 crore branded footwear ........more Infy overtakes NTPC as third largest company in market cap MUMBAI, Oct 11: IT major Infosys today emerged as the third largest corporate entity of the country in terms of market value, ........more |
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UTI Bank subsidiary opens branch in
pink city JAIPUR, Oct 11: In a bid to increase its reach in the pink city and tap the business opportunities here, UBL Sales Ltd, a wholly-owned subsidiary of UTI Bank Ltd has opened its first branch in Jaipur., .........more SoI signed to set up 2 bln euro-tech park in Haryana AMSTERDAM, Oct 11: The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) and Dutch Haryana Business Consortium have signed a Statement of Interest (SoI) ...........more Tata Teleservices to fix ratio for rights issue on Oct 13 MUMBAI, Oct 11: Telecommunication service provider Tata Teleservices Maharashtra Ltd today said it will fix .......more BASF India Q2 net up 19 pc at Rs 20 cr MUMBAI, Oct 11: BASF India Ltd has posted a 19.41 per cent hike in its net profit at Rs 20.37 crore for the second quarter ended September 30, as compared to .............more |
Silverlines’ exhibition attracting crowd Excelsior Correspondent JAMMU, Oct 11: Silverlines which launched Exhibition-cum-sale of Solitaire from October 9, to be concluded on October 14, has been receiving wide spread response from the customers. Solitaire range put on display included Arisia, Bhavaya, Saveni and other world top brands. The Silverlines has come up with wide range and special prices, with its range starting from Rs 20,000 onwards. Adding more to it Silverlines are offering attractive discount on Solitaire from 5 to 15 percent keeping Diamond quality best available in the market with International Gemological Institute Certification in view. |
BSEL Infrastructure forms JV with Unity Infraprojects MUMBAI, Oct 11: BSEL Infrastructure Realty Ltd today said it has formed a joint venture with engineering and construction company Unity Infraprojects Ltd for participating in the tenders offered by Nagpur Municipal Corporation. In a filing on the Bombay Stock Exchange the company said, through this JV it had participated in the six tenders offered by Nagpur Municipal Corporation for construction of shopping malls, on October 9. The Navi Mumbai-based BSEL Infrastructure Realty firm is engaged in real estate, property and infrastructure development. (PTI) |
Madura Garments floats branded footwear line NEW DELHI, Oct 11: Apparel brands manufacturer Madura Garments will soon enter the Rs 3,000 crore branded footwear market in India with a brand for each of its apparel labels. "We saw the footwear foray as a logical extension to get a step closer to providing complete dressing solutions to our customers. With these footwear brands, we would be able to give them the same quality as they get from our apparel brands," Madura Garments President Hemchandra Jaberi told PTI. The company, which manufactures popular apparel brands like Peter England, Louis Phillipe, Allen Solly and Van Heusen, has entered into a strategic tie up with Sierra Industrial Enterprises to market, manufacture and promote these footwear brands across the country. Madura garments would launch a footwear brand for its entire apparel range under the same name and the product would be priced in accordance with the latter. "Though Sierra would manufacture the footwear brand on our behalf, we would ensure that the quality is not compromised and the final product is in tandem with our niche apparel brands," Jaberi said. Sierra Enterprises would also be responsible for product promotion throughout the country and would use a mix of media apart from other promotional activities, he said. "We are proud of our association with Madura Garments, and this tie up would help customers get complete dressing solutions from their favourite brands," Sierra Managing Director Rishab Soni said. Sierra retails international footwear brands like Tommy Hilfiger, Disney and Lotto through shoe retail shops and departmental stores across the country. While Madura would sell the shoes at its retail outlets, Sierra would also sell the footwear brands through stores, Jaberi said. When queried on how would Madura promote the products in the market Jaberi said, "we are looking at a mix of media for the purpose and the promotion work would be handled by both Madura and Sierra." He said the company is not focussed on promoting the footwear brands as stand alone products but would promote them as articles which complete a person's wardrobe along with the apparel brands. "We have always been promoting our brands as complete dressing solutions and footwear brands would be no different. These brands would project our brand outlets as one stop shop for all dressing needs," Jaberi added. The company also offers apparel specific branded accessories such as ties, bags, wallets and belts among others. Madura Garments belongs to the Rs 38,000 crore Aditya Birla Nuvo group and is the supplier for international brands such as Marks & Spencer's, Tommy Hilfiger, Polo and Ralph Lauren. The company also owns the licence for premier brands such as Byford, Elements and SF Jeans. (PTI) |
Infy overtakes NTPC as
third largest MUMBAI, Oct 11: IT major Infosys today emerged as the third largest corporate entity of the country in terms of market value, piggybacking on a strong quarter performance and overtaking the power transmission major NTPC. Infosys replaced the state-run power major after its share price surged ahead more than six per cent early today taking its market capitalisation to over Rs 1.12 lakh crore, ahead of NTPC's market cap of about 1.09 lakh crore. The sharp jump in Infosys's market value followed an impressive growth of more than 51 per cent posted by the company in its second quarter net profit. Infosys's market cap stood at about Rs 1.06 lakh crore before the market opened today, as against NTPC's market cap of Rs 1.08 lakh crore. However, NTPC shares were trading marginally in the negative territory, keeping its market cap below yesterday's levels. The Bangalore-based IT giant comes third after ONGC and Reliance Industries Ltd (RIL). State-run energy giant ONGC leads the tally with a market cap of about Rs 1.62 lakh crore, closely followed by RIL at second place with a market cap of about Rs 1.61 lakh crore. Besides Infosys, a sharp rally was witnessed in other IT stocks as well, with Infosys's strong Q2 results boosting expectations of similar performances across the sector. Shares of TCS, Satyam and Wipro were trading with gains of two to four per cent in the early afternoon trade, while Infosys was trading 4.5 per cent higher at Rs 1,992.15 after paring some of its earlier gains. Infosys's share price soared to as high as Rs 2,024 in the intra-day trade, as against its previous close of Rs 1,906. (PTI) |
UTI Bank subsidiary opens branch in pink city JAIPUR, Oct 11: In a bid to increase its reach in the pink city and tap the business opportunities here, UBL Sales Ltd, a wholly-owned subsidiary of UTI Bank Ltd has opened its first branch in Jaipur. UBL Sales will market the financial asset products such as retail loans and credit cards of UTI Bank through the new branch. ''Company's objective is to build competitive advantage in the marketing of credit cards and retail loans through skilled and trained manpower, speedy geographical reach covering high potential and less serviced centers, specialised business processes to build efficiencies and adopting best practices and benchmarking with the relevant markets,'' UBL Sales Ltd MD Sanjay Silas said. UBL Sales will launch its operations at 42 locations across the country by March next year and hire around 3500 sales staff for marketing the financial asset products of UTI Bank. The subsidiary company also plans to set up an effective sales model that will attract a better quality of sales personnel, optimise sales force productivity and provide better control and monitoring of the sales effort vis-a-vis the prevailing DSA model, he said. Enormous growth in retail and consumer lending in India coupled with the rising incomes of middle class and affluent segments offers huge opportunities in the retail-financing segment. UTI Bank Vice President and Branch Head (Jaipur) N M Raja said that the bank shall extend full support to its subsidiary for meeting the business challenges and exploring new geographical avenues in the city. Apart from this branch, UBL Sales has four branches, one each at Bangalore, Hyderabad, Indore and Ahmedabad which were inaugurated last week. (UNI) |
SoI signed to set up 2 bln euro-tech park in Haryana AMSTERDAM, Oct 11: The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) and Dutch Haryana Business Consortium have signed a Statement of Interest (SoI) for setting up a European technology park in Haryana worth two billion euros. The proposed project is expected to catalyse the two billion euro investment over a period of 10 years and generate employment opportunities to a large number of people. The SoI was signed here yesterday by HSIIDC Managing Director Rajeev Arora and Spyker Cars NV Managing Director Oedith Jaharia in the presence of Haryana Chief Minister Bhupinder Singh Hooda. Haryana Revenue Minister Ajay Singh Yadav and Industries Minister Lachhman Dass Arora were also present at the occasion. Meanmhile, another Memorandum of Understanding (MoU) was signed between Spyker Cars NV and Manav Rachna Education Society, Haryana, for upgrading the level of education for the engineers and other professionals in India to international standards by providing them modern teaching and training facilities. A Confederation of Indian Industry (CII) delegation, led by the state Chief Minister, also interacted with investors based in the Netherlands at a session organised by KPMG. The members of the delegation were welcomed by KPMG Chairman Ben Van de Veer in Amstelveen. Mr Hooda, in his address to the gathering, highlighted the facilities being provided to entrepreneurs in Haryana and extended an invitation to investors for setting up of their units in the state. The members of the CII delegation also had one-to-one fruitful meetings with their counterparts. Members of the auto components industry had very useful interaction with TNO, a Dutch company specialising in crash testing and homologation of auto and other industries. The Chief Minister witnessed the famous flower auction at Aalsmeer, near Amsterdam with around 13,000 varieties of flowers kept for sale. Mr Hooda appreciated the fact that the benefits of science and technology and modern international management have been dovetailed with the farmers' interest. He expressed his desire to replicate the model in Haryana too. (UNI) |
Tata Teleservices to fix ratio for rights issue on Oct 13 MUMBAI, Oct 11: Telecommunication service provider Tata Teleservices Maharashtra Ltd today said it will fix the ratio for a proposed rights issue of equity shares on October 13. The company informed the Bombay Stock Exchange that the entitlement ratio for the rights issue would be fixed at a meeting to be held on October 13. The price for the issue of shares of Rs 10 each on rights basis and the record date for the issue, would also be fixed at the meeting, the company said. Shares of the Mumbai-based company were trading at Rs 20.20 on the BSE, up 4.66 per cent. (PTI) |
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BASF India Q2 net up 19 pc at Rs 20 cr MUMBAI, Oct 11: BASF India Ltd has posted a 19.41 per cent hike in its net profit at Rs 20.37 crore for the second quarter ended September 30, as compared to the year-ago period. The total income (net of excise) surged 14.6 per cent to Rs 219.60 crore for the second quarter ended September 30 as against Rs 191.74 crore in the corresponding quarter in 2005-06, BASF India informed the Bombay Stock Exchange. The company, which manufactures and markets chemicals, had its shares trading at Rs 241.35, up 0.69 per cent on the BSE. (PTI) |
Create rural infrastructure, insurance will follow: OIC COIMBATORE, Oct 11: The Oriental Insurance Company (OIC) was ready extensively cover the country's rural areas provided proper hospital and other infrastructural facilities were set up there, a senior company official said today. The rural masses should have proper access to the medical care and health management, and only then could insurance companies provide necessary coverage, M Ramadoss, Chairman cum Managing Director of OIC, told reporters here. The company, with no tie up with any of the country's hospitals, was willing to come out with newer health-insurance products for the benefit of rural masses, he said Ramadoss, here to inaugurate a new regional office, said the company would open another regional office in Nagpur during this financial year. The company, the second largest among India's non-life insurance companies, has targeted Rs 4,250 crore as premium collection during this fiscal, as against Rs 3,610 crore in 2005-06, Ramadosssaid. (PTI) |
RIL to begin production from oilfield off Andhra coast in 2008 NEW DELHI, Oct 11: Reliance Industries plans to begin oil production from its MA oilfield off the Andhra coast by 2008-end, industry sources said here. The company would install a floating production, storage and offloading (FPSO) vessel on the field for producing oil. Reliance plans to call bids for supply of FPSO by the year end, the sources said. Company officials could not be immediately reached for comments. The FPSO at Reliance field would be India's only second such system with the first being imported by state-owned Oil and Natural Gas Corp (ONGC) to replace its fire devastated platform at Mumbai High fields. Sources said Reliance wants a FPSO capable of handling 60,000 barrels per day of oil, 300 million cubic feet per day of gas and store 1.3 million barrels of crude. The vessel would sit in 1,300 metres of water close to Reliance's huge D6 gas field in Block KG-DWN-98/3 and tap the MA oil and gas field, but with the ability to handle any satellite oil finds. Gas would be re-injected for later use in the multi-trillion cubic foot D6 scheme, the first phase of which is due on stream in the second half of 2008, sources said. Reliance is targeting June 2008 for first gas from its Dhirubhai-1 and 3 discoveries in D6. The development of the two finds would cost Reliance Industries and its 10 per cent partner Niko Resources of Canada around 2.3 billion dollars. Reliance plans a total of 34 development wells in two phases, the first phase comprising 14 wells. The company expects an initial production of 40 million standard cubic metres per day, which would double eventually. (PTI) Varun Shipping gets shareholders nod to raise Rs 2,500 cr MUMBAI, Oct 11: Varun Shipping Company Ltd today said it has got the shareholders approval to raise upto Rs 2,500 crore from issue of securities in the domestic and international markets. The shareholders at the AGM on September 12, approved the issue of equity shares, debentures, Foreign Currency Convertible Bonds, Global Depository Receipts or any other financial instruments to foreign or domestic investors, Varun Shipping informed the Bombay Stock Exchange. The allotment would be subject to such terms and conditions as the board may determine from time to time and other necessary approvals. A final dividend of Rs 1.50 per equity share capital for the year ended March 31 and dividend of 13.25 per cent on Cumulative Redeemable Preference Shares of Rs 100 each for same period was also approved, it added. The shareholders authorised the purchase of its equity share capital upto 49 per cent including the existing holdings of all FIIs put together, subject to necessary provisions. The delisting of equity shares of the company from Ahmedabad Stock Exchange Ltd, The Calcutta Stock Exchange Association Ltd, and The Delhi Stock Exchange Association Ltd was also approved at the AGM. The shares of the company were trading at Rs 76.25, down 0.97 per cent on the BSE. (PTI) |
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DUBAI, Oct 11: Unveiling ambitious expansion plans, Qatar National Bank (QNB) has said it is eyeing operations in India and wants to set up full-fledged branches all over the Gulf region. The bank’s proposed branch in Yemen and representative offices in Singapore and Libya are expected to be operational over the next six months and it is also looking to tap the Indian market. QNB’s last year opened its international division, which handles its expansion plans. "We are looking at countries (to have a presence in) which have good relations with Qatar," Ali Shareef Al Emadi, the bank’s acting chief executive, said. "Entry is difficult but we are looking at different options for entry into India," Al- Emadi told the Peninsula daily. (PTI) |
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