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| K Lounge adds fashion to life Excelsior Correspondent JAMMU, Jan 9: K Lounge, adding fashion to life, has opened its retail show room at Jammu...more' ICRA signs MoU with State Bank of Mysore MUMBAI, Jan 9: Credit rating agency ICRA Ltd (ICRA) and State Bank of Mysore have signed a Memorandum of Understanding (MoU) under which ICRA will assign ratings to the Bank's ...more Govt not to tolerate profiteering by cement makers: Nath NEW DELHI, Jan 9: Apparently peeved by the high prices of cement, the Government today .......more Tata Motors rolls out Sumo Grande NEW DELHI, Jan 9: Tata Motors today launched a new version of its multi utility vehicle - Sumo Grande - priced between Rs 6.55 and 7.49 lakhs (ex-showroom Delhi).The company has been trying to bring in the contemporary aspect in styling and technology by infusing new features, Tata Motors Managing Director Ravi Kant ......more |
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System for multi-media info in
moving vehicles THIRUVANANTHAPURAM, Jan 9: Amrita Research Labs has developed "Amrita MiTrans" - a unique solution that delivers high bandwidth information and .....more MUMBAI, Jan 9: Software solutions provider iGate Global Solutions today posted a 80.88 per cent increase in net profit at Rs 28.85 crore for the quarter ended December 31, 2007 against Rs 15.95 crore during the corresponding period ........more Reliance MF to use stake sale proceeds in global, domestic biz MUMBAI, Jan 9: Anil Ambani group's mutual fund arm Reliance Capital Asset Management Ltd today said proceeds from its .....more Sharp fall in Instanex Skindia DR Index MUMBAI, Jan 9: The Instanex Skindia DR Index declined sharply by 117.34 points or 3.17 per cent to 3,588.06 on January 8 from 3,705.40 previously. The P/E Ratio also moved down to 31.64 from 31.86, a Instanex Capital release said here today.Following are the GDR and ADR rates for Jan 8 in US dollars with differences in ......more |
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Excelsior Correspondent JAMMU, Jan 9: K Lounge, adding fashion to life, has opened its retail show room at Jammu which is its 91st chain store across India with stores in all leading countries of India. K Lounge primarily attracts the young and the Young-at the Heart, College Goers to Corporate executives between the age of 16 and 35. The company is replete with its four brands in jeans, trousers, shirts, T-Shirts and Jackets. Ms Bela Gupta CEO Retails of K Lounge avers that brand items of K Lounge has everything for the fashion lovers in any of its outlets across the country. She said the company plans to add 100 new outlets to the K Lounge chain in the next 18 months, across india. The fully loaded stores inspire the visitor through highly imposing visual merchandise. Known for their path-breaking visual campaigns. The four brand of K Lounge including Killer, Easies, Lawman and Integriti have attained a cult status and were exclusively available through the K Lounge Fashion Chain. ICRA signs MoU with State Bank of Mysore MUMBAI, Jan 9: Credit rating agency ICRA Ltd (ICRA) and State Bank of Mysore have signed a Memorandum of Understanding (MoU) under which ICRA will assign ratings to the Bank's loans and its other exposures under the standardized approach of RBI's New Capital Adequacy Framework for Basel-II. ICRA in a release here today said that its ratings for the standardised approach would be carried out under its ''Line of Credit'' rating service and would enable State Bank of Mysore to assign the new risk weights applicable to its borrowers under Basel-II. The risk weights would be linked to the various rating categories and would be as per RBI's Basel II guidelines. To assist potential and existing borrowers of State Bank of Mysore in obtaining ratings, ICRA is offering special terms to the clients of State Bank of Mysore. The MoU would assist in implementing RBI's New Capital Adequacy Framework under Basel-II by the Bank. (UNI) Govt not to tolerate profiteering by cement makers: Nath NEW DELHI, Jan 9: Apparently peeved by the high prices of cement, the Government today said it understood the need of businesses to earn profits but would not tolerate profiteering. "We are reviewing cement prices from time to time. While cement companies can make profits, profiteering cannot be allowed," Commerce Minister Kamal Nath told reporters here today. His statement comes days after the Tamil Nadu government threatened to nationalise cement companies if private producers failed to check the prices of the construction material. Nath, however, admitted that there was a demand-supply gap, to plug which the the Government has been liberal with imports. "The long term answer lies in capacity building." "So, with new capacities coming in, I think there will be softening in the area," he said. "There is a huge increase in construction and this has led to the gap. We need to looking at greater imports (too)," the minister said. Cement prices are ruling in the range of Rs 240 per 50 kg bag now, but cost less than Rs 200 one and a half years ago. (PTI) |
Tata Motors rolls out Sumo Grande NEW DELHI, Jan 9: Tata Motors today launched a new version of its multi utility vehicle - Sumo Grande - priced between Rs 6.55 and 7.49 lakhs (ex-showroom Delhi). The company has been trying to bring in the contemporary aspect in styling and technology by infusing new features, Tata Motors Managing Director Ravi Kant said at the 9th Auto Expo here. The vehicle will be available in the market starting next month. (PTI) System for multi-media info in moving vehicles THIRUVANANTHAPURAM, Jan 9: Amrita Research Labs has developed "Amrita MiTrans" - a unique solution that delivers high bandwidth information and multimedia entertainment in moving vehicles. Amrita Research Labs is the research and development division of Amrita Viswa Vidyapeetham. More than a dozen engineers and researchers from ARL worked over two years to develop the technology which combines the latest advancements in computers and wireless communications. The system provides an open and flexible platform for easy integration with third-party devices and applications. Amrita MiTrans could support a wide variety of applications such as flight scheduling, location tracking and delivery of education and entertainment in private vehicles, an Amrita release said. This will benefit state transport corporations, private bus owners, railways, metro systems, rental car owners, truck companies and other business groups through revenue generation, increased efficiency in fleet operations, cost reductions and improved customer satisfaction. Passengers could be delivered customised information and entertainment in moving vehicles enhancing their travel experience. Bus operators can provide advertisements and departure and arrival timings to passengers in transit. The project is funded by the Technology Information, Forecasting and Assessment Council, a registered society under the Department of Science and Technology. The technology will be displayed at the 9th Auto Expo at New Delhi in January 10. (PTI) |
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MUMBAI, Jan 9: Software solutions provider iGate Global Solutions today posted a 80.88 per cent increase in net profit at Rs 28.85 crore for the quarter ended December 31, 2007 against Rs 15.95 crore during the corresponding period 2006. The company informed the Bombay Stock Exchange that the total income of the group also increased marginally to Rs 212.72 crore against Rs 210.59 crore for the same period previous year. "The visibility of revenue is getting better and we are looking at another good sequential quarter," said iGate Global Solutions CEO Phaneesh Murthy. The standalone net profit of the firm for the quarter under review stood at Rs 27.48 crore, a gain of 61.17 per cent over the corresponding period's figure at Rs 17.05 crore. The total income of the firm increased to Rs 200.80 crore for the quarter under review against Rs 195.79 crore for the same period previous year, a surge of 2.56 per cent. Last year the company had said that its US-based parent, iGate Corp, intends to delist its shares from all the stock exchanges of the country. As per the law, the company would be delisted after iGate Corp and its affiliate iGate Inc acquire over 90 per cent of iGate Global's common stock. IGate Corp currently holds 93.44 per cent of the outstanding capital of iGate Global Solutions thereby qualifying for the reverse book building process. "The delisting process has largely been a smooth one. We have formally applied for delisting and expect approval shortly," Murthy added. (PTI) |
Reliance MF to use stake sale proceeds in global, domestic biz MUMBAI, Jan 9: Anil Ambani group's mutual fund arm Reliance Capital Asset Management Ltd today said proceeds from its sale of a 4.76 per cent stake to international fund house Eton Park would be used for its domestic and global expansion. While announcing the completion of the deal, Reliance Capital said that the Rs 501-crore transaction translates into a valuation of Rs 10,521 crore for its mutual fund business. "Equity proceeds will be utilised for Reliance Capital Asset Management Ltd's domestic and international expansion," the company said in a statement here. Reliance MF is the country's largest fund house managing an Asset Under Management (AUM) corpus of more than Rs 80,779 crore for over 4.3 million investors. Reliance Capital Asset Management Ltd CEO Vikrant Gugnani said, "Eton Park's investment demonstrates our mutual determination to reinforce Reliance Mutual Fund's leadership position as we continue to build a world-class, customer-focussed enterprises, in one of the most exciting markets in the world." Eton Park is a global fund house managing over 10 billion dollars worth assets through its offices in New York, London and Hong Kong. (PTI) |
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