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| Juki eyes 30 pc increase in revenues
from India in FY'07 NEW DELHI, Oct 18: Japan-based sewing machine manufacturer, Juki Corporation is looking to register a 30 per cent growth in 2006-07 in its revenues from India, .........more Wipro Q2 net up 47 pc at Rs 665 cr MUMBAI, Oct 18: Leading software services provider Wipro Ltd today posted an increase of 46.84 per cent in net profit at Rs 665.2 crore for the quarter ended September 30, as compared to Rs 453 .......more Rajesh Exports opens two more retail stores MUMBAI, Oct 18: Jewellery exporter Rajesh Exports today announced the launch of two more outlets of its retail showroom 'Laabh Jewellers' in Bhubaneshwar ..........more Sical Logistics' Singapore subsi buys PSV for Rs 142 cr MUMBAI, Oct 18: Chennai-based Sical Logistics Ltd today said its Singapore-based wholly-owned subsidiary has ., .....more |
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UAE firm wins Kingfisher contract DUBAI, Oct 18: Abu Dhabi-based Gulf Aircraft Maintenance Company (GAMCO) has won a contract from India's Kingfisher Airlines for maintenance of its ..........more Wipro to expand Chinese operations, to consider third centre BANGALORE, Oct 18: Information and Technology major Wipro Limited would rapidly expand its operations in China and evaluate the possibility of opening a third ...........more Ipca Laboratories Q2 net doubles to Rs 35 cr MUMBAI, Oct 18: Pharma company, Ipca Laboratories Ltd today posted an increase of over two fold in net profit after tax at Rs 35.40 crore for the quarter ended ......more TDSAT rejects Radio One's plea on uniform FM frequency NEW DELHI, Oct 18: Broadcast tribunal TDSAT today rejected Radio One's petition challenging the Government's ...........more |
Juki eyes 30 pc increase in revenues from India in FY'07 NEW DELHI, Oct 18: Japan-based sewing machine manufacturer, Juki Corporation is looking to register a 30 per cent growth in 2006-07 in its revenues from India, which stood at 30 million dollars in the previous fiscal. "We sold 45,000 units of industrial sewing machines in the domestic market in 2005-06 and are now eyeing a 20-30 per cent increase in sales in the current fiscal," Juki Machinery (India) Director Toshiyuki Yamanaka told PTI. Juki supplies industrial sewing machines to domestic garment manufacturing companies and plans to establish itself in the surface mount technology machine and household sewing machine segment in the country, he said. The company is exploring the option of selling household sewing machines in India and is currently studying the market to plan its foray. "We see immense potential in the household sewing machine market here and would definitely like to enter this category. We would offer multi-functional machines in the segment," he added. Juki has manufacturing facilities in Japan, China and the US and is studying the possibilty of setting up a facility in India. "Currently we import our machines to meet the domestic demand and as far as setting up a manufacturing facility in India is concerned, I am not denying such a possibility and we would definitely look into the matter," Yamanaka said. The company would study the market, look at spare part suppliers and infrastructure before finalising its plans for the manufacturing facility, he added. (PTI) |
Wipro Q2 net up 47 pc at Rs 665 cr MUMBAI, Oct 18: Leading software services provider Wipro Ltd today posted an increase of 46.84 per cent in net profit at Rs 665.2 crore for the quarter ended September 30, as compared to Rs 453 crore for the same quarter last year. The total revenues increased 47.16 per cent to Rs 3375.3 crore for the second quarter ended September 30, from Rs 2293.5 crore a year ago, the company informed the Bombay Stock Exchange. "We believe that the focus we have on strategy and execution has continued to deliver robust results for the company. Our IT services and products business witnessed strong volume growth and operational improvements during our quarter ended September 30," Wipro Chairman Azim Premji said. The group posted a net profit of Rs 700.2 crore for the quarter ended September 30, as compared to Rs 478 crore for the same quarter last year. The total revenue of the group increased to Rs 3546.2 crore for the second quarter ended September 30, from Rs 2506.8 crore a year ago. "Our global IT services and products business added 54 new clients during our quarter ended September 30, 11 of which were global 500 or Fortune 1000 clients. Further, our BPO services business also posted a strong revenue growth and operating margin improvement. Looking ahead, for the quarter ending December 2006, we expect revenue from our global IT services and products business to be approximately 633 million dollars," he added. (PTI) |
Rajesh Exports opens two more retail stores MUMBAI, Oct 18: Jewellery exporter Rajesh Exports today announced the launch of two more outlets of its retail showroom 'Laabh Jewellers' in Bhubaneshwar and Secunderabad. With this launch the total number of its retail outlets across the country has increased to ten, the company informed the Bombay Stock Exchange. The launch marks the company's retail foray into the states of Orissa and Andhra Pradesh. The company would be establishing retail showrooms across the country in order to achieve a pan India presence in the jewellery sector, it added. (PTI) |
Sical Logistics' Singapore subsi buys PSV for Rs 142 cr MUMBAI, Oct 18: Chennai-based Sical Logistics Ltd today said its Singapore-based wholly-owned subsidiary has acquired a platform supply vessel (PSV) for Rs 141.67 crore (31.3 million dollars). All the legal formalities of the sale have been completed and the delivery of the vessel was taken by Bergen Offshore from Aker Yards in Norway and was renamed as Sical Torino, the company informed the Bombay Stock Exchange. Sical Logistics had acquired Bergen Offshore in the end of September this year. The latest generation specialty 470 MKII class PSV provides offshore logistics like cargo transport for deepwater offshore drilling. "The surge in demand for oil and gas has led to a sharp increase in deepwater drilling, and, consequently, the demand globally for specialised high capability platform vessels for deepwater offshore logistics," Sical Logistics Vice Chairman Ashwin Muthiah said. Sical Torino would be deployed in the North Sea where such vessels are in large demand owing to the surge of deepwater drilling in recent years. The company's existing offshore logistics business operates and manages 15 offshore supply vessels for India's leading energy exploration company, ONGC Ltd. Built in Norway in 2006, the 73.4m long, 3570 tonne dead weight vessel is registered under the Singapore flag. On performance, features and safety, the MKII is built to the latest specifications and is perfectly suited for the harsh and demanding North Sea waters. "We see the Sical Torino as a significant strategic addition to Sical's arsenal for offshore logistics," Muthiah added. (PTI) |
UAE firm wins Kingfisher contract DUBAI, Oct 18: Abu Dhabi-based Gulf Aircraft Maintenance Company (GAMCO) has won a contract from India's Kingfisher Airlines for maintenance of its 10 aircraft. Gamco will undertake maintenance, repair and overhaul of the 10 aircraft, components and engines, a company statement said here. The contract value was not disclosed. The company "greatly appreciates the trust Kingfisher Airlines has placed in it and that the company has proven record of professional technical services", the statement added. (PTI) |
Wipro to expand Chinese operations, to consider third centre BANGALORE, Oct 18: Information and Technology major Wipro Limited would rapidly expand its operations in China and evaluate the possibility of opening a third centre there, its Chairman Azim Premji said today. Premji said the Bangalore-headquartered company currently has two centres in China - at Shanghai and Beijing, employing around 100 people. "But we are rapidly expanding there (in China) and we will continue to expand there," Premji told a news conference in response to questions on Wipro's Chinese operations. "At an appropriate stage, we will evaluate whether we need to go to a third location which is not such a large city because probably it will give more stability and better cost," he added. (PTI) |
Ipca Laboratories Q2 net doubles to Rs 35 cr MUMBAI, Oct 18: Pharma company, Ipca Laboratories Ltd today posted an increase of over two fold in net profit after tax at Rs 35.40 crore for the quarter ended September 30, as compared to Rs 17.49 crore for the same quarter last year. The total income (net of excise and sales tax) increased 24.46 per cent to Rs 244.48 crore for the quarter ended September 30, from Rs 196.42 crore a year ago, the company informed the Bombay Stock Exchange. The company declared an interim dividend of 35 per cent for the financial year 2006-07, it added. (PTI) |
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TDSAT rejects Radio One's plea on uniform FM frequency NEW DELHI, Oct 18: Broadcast tribunal TDSAT today rejected Radio One's petition challenging the Government's decision to award the 92.5 MHz frequency with which the channel was synonymous in Mumbai, to Anil Ambani Group-promoted FM channel Radio Big in the national capital. A Telecom Disputes Settlement and Appellate Tribunal Bench headed by Justice Arun Kumar rejected Radio One's petition, which is promoted by media house Mid Day. Radio One had approached TDSAT seeking a uniform frequency for all its six radio stations across the country, but the Government allotted three different frequencies to it. However, the Government, instead of allotting the 92.5 MHz frequency to it, had given a new frequency of 94.3 MHz, which the group contended was not fair since the former had become its brand identity in Mumbai. The FM channel, in which British Broadcaster BBC has around 20 per cent stake, contended that the allocation of new frequency was not fair as it had become a brand in Mumbai, where it is a leading player. The group also contended that while allotting unified frequency of 94.3 MHz to Radio One to operate in six cities including Mumbai, it suffered commercial loss also as its 92.5 MHz had become synonymous with Radio One just as Radio Mirchi was recognised by 98.3 FM in Delhi. (PTI) |
Petron Engg gets shareholder-nod for resorts sale MUMBAI, Oct 18: Construction services provider Petron Engineering Construction Ltd today said it had got its shareholders' approval for transfer, sale and disposal of its resorts division Petron Resorts. The shareholders of the company authorised the board of directors to transfer, sell and dispose of 'Petron Resorts' with all assets and correlated liabilities or obligations, the company informed the Bombay stock Exchange. The board of directors was also authorised to borrow upto Rs 200 crores, over and above the aggregate paid-up capital and free reserves of the company, it added. The shareholders made the approval through postal ballot with requisite majority. (PTI) |
Vacation Club to open two clubs in Punjab LUDHIANA, Oct 18: Hospitality marketing company Vacation Club International Limited plans to open two of its luxury set-ups in Punjab by next year end. "We have plans to open two clubs in Jalandhar and Amritsar during next year in order to cater to affluent people of Punjab," Vacation Club International Limited, Chairman and Managing Director Vijay K Singh said here. Vacation Club, in association with the Ludhiana-based promoter of Texla brand of televisions, has opened a five-star club 'Nirvana' here in Punjab with an estimated investment of Rs 45 crore (excluding the cost of land). Sprawling across 25 acres of land, the club will boast of a five-star hotel, retail outlets, conference halls, auditorium, theme restaurants, swimming pools, sports complex, parking space for 800 cars and a helipad. "We have already registered 1,500 people from Ludhiana city for Nirvana club," Sukhvinder Singh, Managing Director of Nirvana Club said. Vacation Club International presently markets and manages eight clubs across the country apart from marketing some prestigious projects such as the Ambey Valley city near Mumbai and Golden Palms Hotel and Spa in Bangalore. (PTI) Timex targets two-fold increase in turnover by 2008 NEW DELHI, Oct 18: Leading watch manufacturer Timex Watches Ltd is eying a two-fold increase in its turnover by 2008, by when it would also expand its countrywide presence through 120 exclusive stores that it plans across India. "We closed the previous fiscal with a turnover of about Rs 100 crore. The 120 new exclusive brands stores, based on a franchise model, would help us clock revenues to the tune of Rs 200 crore by 2008," company Senior Vice President, Sales and Marketing, Salil Sadanandan told PTI. At present Timex markets its products through 3,000 multi-brand outlets across India. As a part of its expansion strategy, the company would now focus on retailing the products through a chain of exclusive showrooms called 'Time Factory'. "We currently have 32 Time Factories spread across six major cities of the country. The company would take this number to 50 across metros and tier - I cities by the end of this calendar year," Sadanandan said. Time Factory outlets would now also come up in Agra, Ranchi, Chandigarh, Kochi apart from other metros. Sadanandan said the company is hopeful of increasing its share in the Rs 1,400 crore domestic market for mid-range watches to 33 per cent through the brand outlets, all of which will be operational in the next two years. "The Rs 1,400 crore market is growing at a rate of 20 per cent per annum and our current market share in the segment is around 22 per cent," he added. Timex would also introduce new models to increase its offerings in the segment as it targets multiple-watch owners in the upper-mid-segment. The company recently announced its second manufacturing facility in Baddi, Himachal Pradesh. The Rs 12 crore-facility, with an annual capacity to produce 20 lakh watch pieces, would be commissioned by March-April 2007. Combined with the other facility in Parvanu in the state, Timex's total production capacity would be around 30 lakh watch pieces annually. "Our combined production capacity would be sufficient to meet the current demand from the market," Sadanandan added. (PTI) |
Exide Industries Q2 net up 50 pc at Rs 44 cr MUMBAI, Oct 18: Exide Industries Ltd, producer and marketer of storage batteries, today posted an increase of 50.41 per cent in net profit after tax at Rs 43.74 crore for the quarter ended September 30, as compared to Rs 29.08 crore for the same period last year. The total income (net of excise and sales tax) increased 33.81 per cent to Rs 453.58 crore for the quarter ended September 30, from Rs 338.96 crore a year ago, the company informed the Bombay Stock Exchange. "The galloping demand in both automotive and industrial segments of our market, coupled with improved production efficiency and tight leash on costs have helped us achieve yet another set of excellent financial numbers," Exide Industries Executive Chairman and Chief Executive Officer S B Ganguly said. During the second quarter the company announced its plans to set up a new factory in Haldia, West Bengal, for its industrial range of batteries. The work on the project is going on in full swing and the first phase of the project is expected to be completed by the end of the current financial year. The fluctuating lead prices in the international markets were a cause of concern, but healthy rise in demand across segments should keep the bottomline robust. We are looking at possibilities of expanding our production capacities not only to meet the rising domestic demand but also for the foreign markets, especially in the Asia Pacific region, he added. (PTI) |
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