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| VC SMVDU inaugurates J&K Bank branch Excelsior Correspondent KATRA, Jan 8: Jammu and Kashmir Bank has upgraded its extension counter at Shri Mata ...more' Zargar
launches Excelsior Correspondent Jammu, Jan 8: Minister for Agriculture and Cooperatives, Abdul Aziz Zargar has said ...more LG
achieves 364% growth Excelsior Correspondent JAMMU, Jan 8: LG Electronics India Private Limited, has .......more BSE hits record high of 21,000 PS in 49 trading sessions MUMBAI, Jan 8: The Bombay Stock Exchange benchmark index, Sensex, today scaled the 21,000 peak in early morning trade, adding the last 1,000 points in 49 trading sessions.The 30-share barometer, witnessed a surge of 264.88 points to touch an intra-day high of 21,077.53 points in early ......more |
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Mahindra & Mahindra to acquire
Italian design house MUMBAI, Jan 8: Car maker Mahindra & Mahindra today said it plans to acquire Italian auto design firm G R Grafica Ricerca Design Srl (GRD) for an .....more Saregama forms JV with Australian company KOLKATA, Jan 8: City-based music company Saregama Ltd has formed a joint venture with an Australian media company, Regency, for large-scale manufacturing of VCDs and DVDs........more Pvt manufacturers agree to take decision on reducing prices CHENNAI, Jan 8: Private cement manufacturers have agreed to take a decision before .....more Manaksia lists with 25 pc premium on BSE MUMBAI, Jan 8: Manaksia Ltd, formerly known as Hindusthan Seals Ltd, today got listed at Rs 200 on the Bombay Stock Exchange with a premium of 25 per cent over its issue price of Rs 160.Within minutes of listing the scrip of the company touched an intra-day high of Rs 248.70 and over 22.96 lakh shares changed hands on the BSE......more |
VC SMVDU inaugurates J&K Bank branch Excelsior Correspondent KATRA, Jan 8: Jammu and Kashmir Bank has upgraded its extension counter at Shri Mata Vaishno Devi University campus as a full fledged branch to facilitate the students, faculty and staff besides the varsity itself. Prof. N. K. Bansal, Vice Chancellor, SMVD University today inaugurated the full fledged branch of the bank and hoped that the newly upgraded branch will provide all banking facilities as per needs of one and all under one roof so that local population of the adjoining areas will also get benefited. On the occasion G. M. Sahibzada, vice-president of the Bank assured that all world class banking facilities will be provided under one roof in the University Campus with thrust on quality service and basket of financial services including Insurance, mutual funds, depository services, foreign exchange and ATM. Zargar launches Cooperative housing project Excelsior Correspondent Jammu, Jan 8: Minister for Agriculture and Cooperatives, Abdul Aziz Zargar has said that it was imperative to make cooperative societies profitable and run on professional lines, adding that cooperative movement should go every nook and corner of the State. Minister was briefing the media persons at a function organized in connection with launching of housing project being constructed by Mass House Building Cooperative Ltd (MHBCL) in collaboration with Parsvanath Developers Ltd.(PDL). Mr. Zargar said that shelter is the primary need of life and the programme launched by MHBCL and PDL will definitely ease the problems of the people. He said cooperative societies are working in other sectors but the new trend of housing cooperatives would go a long way in fulfilling the needs of the people. He said that construction agencies should come forward with such projects, which could be afforded by the people of lower income groups. He asked the management of both the organizations to take up these projects in the Valley also as the situation there has improved to a large extent. Reviewing the blueprint of the project, Mr. Zargar said that every effort has been put to make the project attractive. Dr. G.N.Qasba, Registrar Cooperatives said that every possible assistance would be provided to the Housing Cooperatives to make their moves a success. Giving the details of the project, Chairman, PDL, P.K.Jain, said that company has completed 30 projects, and work in apace on 100 new projects in 40 cities spread over in 17 states and has emerged as one of the leading real estate developers in the country. He said the project launched at Jammu would be having all international standard facilities. The Chairman said that similar projects would be launched in other parts of the Jammu and efforts would be made to launch similar project in Kashmir Valley also. LG achieves 364% growth in market share of India Excelsior Correspondent JAMMU, Jan 8: LG Electronics India Private Limited, has announced its landmark achievement of selling one million DVD writers in the year 2007, there by ensuing its share of market at 41% thereby maintaining its leadership position in the market. The growth rate as compared to the year 2006 with the passing year has been of 364%. Commenting on the achievement, R Manikandan, Business Group Head, IT Division, LG Electronics India Pvt Ltd, stated that it has been a proud achievement for the LG and the results of the company substantiate technological edge over others in the industry. He further said, "we will sustain such momentum in 2008 also and aim to double the volume this year, Channel partners have a critical role to play in our success and I take this opportunity to thank the partners for their consistent support and the enthusiasm they have demonstrated for all our products". The LG Electronics India Pvt Ltd, a wholly owned subsidiary of LG Electronics, South Korea was established in January 1997 in India. It is one of the most formidable brands in consumer electronics, home appliances, IT hardware and Mobile communication space. In India for a decade, LG has earned a premium brand positioning and acknowledged trendsetter for the industry. LG’s electronic unit at Greater NOIDA was one of the most eco-friendly units among all LG manufacturing units in the world. The second green-field facility was located at Ranjangaon, Pune, which has the capacity to manufacture GSM Phones, CTVs, Microwave Ovens, refrigerators and Optical Disc drives. |
BSE hits record high of 21,000 PS in 49 trading sessions MUMBAI, Jan 8: The Bombay Stock Exchange benchmark index, Sensex, today scaled the 21,000 peak in early morning trade, adding the last 1,000 points in 49 trading sessions. The 30-share barometer, witnessed a surge of 264.88 points to touch an intra-day high of 21,077.53 points in early trade on expectations of robust corporate earnings and increased FII activity in the new calendar year. The BSE benchmark completed its 1,000-point journey in 49 business days after touching the 20K milestone on October 29, last year. "The capital market is strongly bullish on the back of expectations that Foreign Institutional Investors would step up their purchases, besides, expectations of encouraging corporate results for the third quarter triggered the momentum," a broker said. In October 2007, the benchmark Sensex scaled three milestones and covered a 3,000 points journey in just 14 days. The bellwether index crossed the 20,000 mark in 10 days. The fastest 1,000-point journey, that the Sensex made was of four trading sessions when the Sensex rallied from 18,000 to 19,000 points between October 9 and October 15. The journey between 17,000-18,000 had taken eight trading sessions. The bellwether, index travelled from 16,000 to 17,000 points in six days in September 2007. The stride from 14,000-15,000 points had taken 143 trading sessions. The 15,000 level was reached on July 6. This was the longest 1,000-point march since the Sensex touched the five-figure level of 10,000 in February last year. The index took 26 days to move from 13K to 14K, 132 days from 12K to 13K, 19 days from 11K to 12K, 33 days for 10K to 11K, 48 days from 9K to 10K, 54 days from 8K to 9K, 55 days from 7K to 8K, and as many as 1,124 sessions between 6K and 7K. (PTI) Mahindra & Mahindra to acquire Italian design house MUMBAI, Jan 8: Car maker Mahindra & Mahindra today said it plans to acquire Italian auto design firm G R Grafica Ricerca Design Srl (GRD) for an undisclosed amount. Through this acquisition, the company intends to develop a global design centre for the group and cater to global auto original equipment manufacturers, M&M said in a communique to the Bombay Stock Exchange. "The synergies resulting from this acquisition will not only help us strengthen our existing design capabilities but will also help us emerge as a global auto design powerhouse," M&M Automotive Sector President Pawan Goenka said. Complementary capabilities between Mahindra & GRD will enhance the product development capabilities and provide a strong European footprint to leverage technologies and skill sets through the available talent pool of designers and engineers, Goenka added. The company would incorporate a new subsidiary, Mahindra Graphic Research and Design (MGRD), for acquiring the Italian firm, M&M said.. GRD executes designing, body engineering and feasibility and styling work for leading auto OEMs and designing companies based out of Europe and Asia. The current GRD management team will continue to drive all operations for MGRD, the transaction is expected to close by end of January 2008. Shares of the company were at Rs 822, up 1.41 per cent on the BSE. (PTI) |
Saregama forms JV with Australian company KOLKATA, Jan 8: City-based music company Saregama Ltd has formed a joint venture with an Australian media company, Regency, for large-scale manufacturing of VCDs and DVDs. "We will take 25-26 per cent stake in the JV, which will have the manufacturing base in the city," Saregama Managing Director Subroto Chattopadhyay said. He, however, did not give the quantum of investment in the venture. The joint venture company, Saregama Regency Optimedia, is likely to start production by end of the current year. Regency Media has capability to produce 40 million DVDs and 25 million CDs. Chattopadhyay, said the main purpose to tie up with the disc-major was to have some control in manufacturing. "We have a strong library of three lakh songs and 19,000 movies. To manage this mega catalog we should have some control on manufacturing capability," he said. The project is likely to produce and replicate large scale optical discs at competitive prices. (PTI) |
Pvt manufacturers agree to take decision on reducing prices CHENNAI, Jan 8: Private cement manufacturers have agreed to take a decision before February 10 on reducing cement price, following the Tamil Nadu Government's warning of state takeover if they failed to take steps to contain its sprialling price. India Cements Managing Director N Srinivasan met Chief Minister M Karunanidhi here today, on behalf of the cement manufacturers and discussed the issue, an official release said. Srinivasan had assured the Chief Minister that he would get back to him with a positive result after holding talks with other manufacturers before February ten, the release added. The state Government had on Wednesday last announced that it had no other alternative but to takeover private cement factories in the state if they did not come forward to reduce the price in public interest. It had also decided to import one lakh tonnes of cement by Tamil Nadu Cements Corporation through Metals and Minerals Trading Corporation and distribute through the state civil supplies corporation, the release said. (PTI) |
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