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Notice to Reliance on mobility Indian IT impresses
Prince Charles
Dabur to pay 60 pc dividend
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No notification yet on tax sops in HP Usha Shriram unveils mobile phones
Mohali to have Entrepreneurs Forum office
Haryana firms for
Malaysia trade fair
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Notice to Reliance on mobility New Delhi, November 4 DoT sources said here that according to the notice sent yesterday, if Reliance does not take corrective steps, additional 60 days will be given to it after which its licence would be terminated. Reliance Infocomm spokesman Amit Khanna said the company has not yet received the notice. He said the company would stand by its earlier statement that it would abide by the Government decision. The Cabinet had on Friday approved the Group of Ministers
(GoM) on Telecom decision to send notice to Reliance. Since official note to the Cabinet decision came yesterday, Reliance was sent notice. The draft of notice has already been approved by the Cabinet. Reliance was found to be violating licensing conditions on three counts — by providing multiple registration to subscribers, by using over the air authentication of subscribers outside the short distance charging area through *444 facility and allowing the use of handset outside SDCA. While Reliance Infocomm offers WLL services, Reliance Telecom provides cellular services, using GSM standard, in 7 telecom circles encompassing 15 states. Since final guidelines are yet to be announced by DoT on unified licence under which Reliance will have an option to migrate to the new regime to offer both basic and mobile services, Reliance may face problems after the 30-day period in the absence of the guidelines. Though DoT has accepted TRAI’s recommendations, as approved by the Group of Ministers on Telecom and then Cabinet, the final set of guidelines has to be announced by the department only. Usage of the three services was the main reason which was opposed to by the cellular lobby and the fight between basic and cellular operators went on for more than two years both in the TDSAT and the Supreme Court. Sources said after the lapse of the 30-day period, the licence of Reliance Infocomm could be terminated by giving it another notice of 60 days. Going by TRAI’s calculations, Reliance would have to pay Rs 1,581 crore, which includes a penalty of Rs 485 crore for offering roaming like services on its WLL phones against the spirit of the licence issued to them. Asked by when would DoT announce the guidelines, the sources said no time frame has yet been decided.
— UNI, PTI
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Indian IT impresses
Prince Charles Mumbai, November 4 It was the turn of IT tycoons and Mumbai’s technocrats to interact and inform the heir to the throne of England about the rapid strides that the country had made in the IT sector. Dressed in a navy blue suit, the Prince sat through a 45-minute- long event organised yesterday by Nasscom. Head honchos of some of the top IT companies made short presentations highlighting the technological advances made by the Indian knowledge sector. The Indian IT industry’s biggest player, Tata Consultancy Services (TCS), was among the companies that made presentations before the Prince. In his power-point presentation, TCS official J. Bhandarkar informed the distinguished visitor about his company’s expertise in the business process outsourcing (BPO) sector. He also dwelt on the company’s ties with the UK. Mr Ashank Dessai, head of Mastek, spoke about India’s rich IT ties with the UK and his company’s achievements in the sector. But the Prince seemed most impressed by the presentation made by the Indian Institute of Technology
(IIT), Powai, Mumbai. The IIT’s K.C. Ramratan spoke of IT being taken to the villages and its multifarious uses, for instance in the collection and distribution of milk by cooperatives. At the end of the presentation, Prince Charles told the participants that he was impressed by India’s achievements in taking IT to the rural areas. He made a special mention about the country’s attempts to introduce e-learning and the ‘e-chaupal’, an online platform for villages, experimented in some parts of the country.
— IANS
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Dabur to pay 60 pc dividend New Delhi, November 4 The company’s sales increased by 8.8 per cent to Rs 637.12 crore in H1 of this fiscal from Rs 585.75 crore in the same period last year. The Board of Directors, which met here to consider the audited financial result of the company for the second quarter and half-year ended on September 30, 2003, announced the interim dividend of 60 per cent per equity share. The record date for the payment of dividend has been finalised as November 22, 2003. “We are happy to reward the shareholders with this dividend and also issue an additional share (one additional share of Dabur Pharma for every two shares of Dabur India held) as the demerger has now been approved by the Delhi High Court,” said DIL Chairman V C Burman. The FMCG business, largely comprising personal care and healthcare products in the hair care, oral care, tonics, digestives and childcare categories, has registered a 33.49 per cent growth in the net profit which has surged from Rs 33.56 crore to Rs 44.80 crore during the first six months. The revenue during the period has grown by 6.35 per cent to Rs 524.12 crore. The pharmaceuticals business, consisting of allopathic, oncology formulations and bulk drugs, recorded a growth of 21.6 per cent in revenue to Rs 113 crore during the period under review while the net profit grew by 5 per cent to Rs 8.66 crore in the same period.
Scorpio to enter Europe Encouraged by increasing demand for Scorpio, Mahindra and Mahindra said today it would shortly hike production of the vehicle by 20 per cent to 3,000 units per month. The company is also gearing up to soon launch the vehicle in Europe, starting with Italy, Spain and Portugal, M&M Executive Director and President, Automotive Sector, Alan
Durante, told PTI here. “Right now, we are doing 2,500 units per month. I believe there is a waiting list of 4-6 weeks. We are, therefore, kicking up the production to 3,000 units in the next 3-4 months,” Durante said. This would increase the daily production of the Scorpio to 130 units from 100 units at present. During April-September, 2003, M&M recorded a 47.6 per cent rise in sale of utility-vehicles at 32,952 units. In preparation for the European launch of the Scorpio, the company would take part in a motor show at Bologna (Italy) next month, Durante said.
Rolta ties up with US firm Rolta India has signed a memorandum of understanding
(MoU) with US-based Stone & Webster Engineering Projects Private Ltd, an affiliate of US-based The Shaw Group Inc, under which both companies will form a joint venture company in India. The joint venture company will provide engineering, design and procurement services to support Stone & Websters’ power, refinery and petrochemical projects, Rolta India said in a release here today. The new firm will be formed under a name, which will incorporate names of both partners and with a 50 per cent stake by both the companies, it said. With this joint venture, both companies expect to increase their market penetration, resulting in significant benefits to both companies, the release added.
— UNI, PTI |
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No notification yet on tax sops in HP Chandigarh, November 4 Among others, the Wipro group, which had announced to set up a unit at Baddi to manufacture soaps, telecom powder and other products, have decided to defer the decision. The Himachal Government has already allocated about eight acres to the company to set up its first unit in the state. Mr Vineet Agrawal, President, Wipro Consumer Care and Lighting, said
today, "We have been waiting for the past over nine months that the Centre will issue the notification. So, for the time being, we have decided to put off investment plans. According to the policy the investors in Himachal, Uttranchal and J&K will be offered exemption from payment of income tax on the profit earned for the first 10 years, after the beginning of industrial production." The officials in the Department of Industry, Himachal Pradesh, said due to delay in the notification by the Ministry of Finance, some of the groups, including Wipro, are dragging their feet from investing in the state. Interestingly, the Quark was also contemplating to invest in Himachal Pradesh. The company has decided to focus on Punjab despite lack of tax exemptions in the state. Mr Agrawal said, the company has six plants in western and southern states. The production plant in Himachal Pradesh, if
materialised, will be the major plant. However, once the notification was issued, the company would start production within one year time. It had recently acquired a glucose powder brand,
Glucovita, from HLL in line with its strategy to grow inorganically. The company has plans to shift the production of
Santoor, Wipro Baby Soft and Wipro Shikakai brands to Baddi in view of the considerable tax breaks. Mr Agrawal said the with an annual turnover of over Rs 330 crore registered last year, the company had registered a growth of over 20 per cent during the last quarter. With good monsoon and an increase in income levels in other sectors, the company was expecting a substantial increase in sales in the northern and other
markets, he added.
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Usha Shriram unveils mobile phones Chandigarh, November 4 Addressing mediapersons here today, Mr Rajan
Saigal, Senior Executive Director of Usha Shriram Electronics, said the aim of the company was to double its product range next month and complete national rollout within six months. They are targeting at capturing 7 to 8 per cent of the market share. He said Lexus mobile phones are latest in technology and are feature loaded with polyphonic
ringtones, intelligent SMS, MMS, digital camera, bio-rhythm clock and available at the most affordable prices . The prices of the mobile phones will range between Rs 3,500 and Rs 24,000. Mr R.K. Caprihan said the company would launch the world’s smallest camera phone, enhancing the brand image of Lexus.
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Mohali to have Entrepreneurs Forum office SAS Nagar, November 4 This was stated by Mr Piyush
Bahl, Executive Director of the forum, talking to mediapersons at PCA Club here today. The forum would work on investment opportunities and also provide business consultancy. The guiding principles of the forum would revolve around stakeholder concept, cooperation, global entrepreneurship, corporate citizenship and social entrepreneurship. We will encourage small and medium entrepreneurs to “look global” and “think global”, he said. He said the territorial coverage would be basically central, provincial and at the level of districts. The internal territorial coverage would include South-Asia, South-East Asia and East Asia.
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Haryana firms for
Malaysia trade fair Chandigarh, November 4 A Haryana State Industrial Development Corporation official said today that industrial units in the state would exhibit their products at the exhibition, “Incredible India 2003 — India Trade and Industry”. It will be held at the Putra World Trade Centre in Kuala Lumpur from December 2 to 6. He said the trade expo had been organised by the India Trade Promotion Organisation (ITPO) in collaboration with the CII, FICCI and the Clothing Manufacturers’ Association of India. The Haryana Government has booked 100 sq metres at the venue.
— IANS Ranbaxy starts sale of DisperMox NEW
YORK: Ranbaxy Pharmaceuticals Inc has started distributing DisperMox — amoxicillin tablets for oral suspension in 200 mg and 400 mg strengths — in the USA. Ranbaxy claimed it is the first to have developed a dispersible tablet form of amoxicillin that is used as an alternative to oral suspensions and offers dosing convenience and accuracy. The DisperMox tablet immediately disperses when mixed in water and is administered in suspension form.
— PTI Maruti to offer third VRS NEW
DELHI: Maruti Udyog said today 269 employees have availed VRS, which closed last month, and the company will introduce another early retirement scheme this month as part of a major cost-cutting exercise, its Managing Director Jagdish Khattar said.
— PTI Rs 24 cr target from service tax LUDHIANA:
Cable operators, marriage palace owners, commission and forwarding agents, advertising agencies, courier services and photographers have been identified as potential service tax assessees by the Central Excise Commissionerate here in Ludhiana. The commissionerate has fixed a target of Rs 24 crore to be collected as service tax from the region which includes Ludhiana, Sangrur, Mansa, Moga, Ferozepur, Bathinda and Faridkot. Addressing a press conference here today, Central Excise Commissioner H.K. Mittal said the department had already initiated the process of collecting the tax and had started meeting various associations of these service providers.
— TNS Bids for CMC adviser invited NEW
DELHI: The government today invited initial bids for the appointment of coordinator-cum-adviser for disinvestment of its residual stake of 26.25 per cent in CMC Ltd through offer for sale in the domestic market. Merchant bankers with specific expertise in capital market offerings would be required to submit their Expression of Interest (EoI) by November 17.
— PTI IA hopes to break even this fiscal NEW
DELHI: Indian Airlines hopes to break even this fiscal, backed by better revenue and cost-cutting efforts, its Chairman, Mr Sunil Arora, said today. “We hope to break even this fiscal. Last fiscal, the airline incurred a loss of Rs 245 crore,” Mr Arora said on the sidelines of the launch of a co-branded flyers’ card. Indo-Hungary CEOs’ Forum NEW
DELHI: Aimed at furthering bilateral trade ties, the India-Hungary CEOs’ Forum was launched here today coinciding with the visit of Hungarian Prime Minister Peter Medgyssey. An MoU to launch the forum was signed by CII’s Senior National Council member Phiroz A. Vandrevala and President of the Confederation of Hungarian Employers and Industrialists Peter Szekely here.
— PTI India offers help to
carpet industry NEW
DELHI: India today offered to set up infrastructure and training facilities to the global handmade carpet industry to boost international trade in the sector. “We are prepared to work out methods for the establishment of a raw material bank to enable easy access to quality raw material and eco-friendly colours”, Prime Minister Atal Bihari Vajpayee said today while inaugurating the first world conference on handmade carpets here.
— TNS |
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