Maruti and Telco lead car sales race
NEW DELHI, Aug 23 — Passenger car sales witnessed a major spurt in July, led particularly by the small car manufacturers Telco, Daewoo, Fiat, Hyundai and Maruti.

• New Zen Classic to cost 3.64 lakh
• Fiat hikes stake in Ind Auto

‘New drug’ definition
NEW DELHI, Aug 23 — The Government has amended the definition of “new drugs”. The new definition will include devices such as new types of syringes and inter-dental brushes with anti-bacterial filaments, as well as delivery systems such as skin patches and implants.

Harco Bank, NABARD sign MoU
CHANDIGARH, Aug 23 — An MoU was signed today by NABARD, the government of Haryana and Harco Bank to ensure short-term cooperative credit structure in the State.

Punjab paddy for other States
NEW DELHI, Aug 23 — The Food Ministry has decided to either move paddy or brown rice from Punjab to other needy States in an effort to overcome the shortage in milling capacity in the northern State and reduce wastage, a Food Ministry official said.

Rs 5 crore ST relief for G.A. Cement
SHIMLA, Aug 23 — The Himachal Pradesh High Court has ordered the State Government to reimburse a sales tax of Rs 5 crore which was recovered from Gujarat Ambuja Cement Ltd after withdrawing certain incentives granted to the cement companies.

Pfizer plan cleared
NEW DELHI, Aug 23 — Pfizer’s proposal to set up a wholly-owned subsidiary and Hotline Haier’s move to manufacture home appliances were among the Rs 260 crore foreign direct investments cleared by the Government today.

BSES repays loans
MUMBAI, Aug 23 — BSES has pre-paid all its outstanding loans sanctioned by Indian financial institutions, having paid the last instalment of Rs 38.50 crore recently.

Maruti and Telco lead car sales race

NEW DELHI, Aug 23 (UNI) — Passenger car sales witnessed a major spurt in July, led particularly by the small car manufacturers Telco, Daewoo, Fiat, Hyundai and Maruti even as Bajaj Auto and Escorts Yamaha saw their sales hitting a major stonewall during the month.

According to latest figures released by the Society of Indian Automobile Manufacturers (SIAM), total passenger car sales during the period stood at 54,640 units (including exports) up 43 per cent from 37,950 units in the previous year.

Total bi-wheeler sales for the month were up by a mere 1.6 per cent at 292,422 units while commercial vehicles sales surged by 10 per cent at 10,869 units.

Maruti sold a record 37,404 units during the period, up 16.8 per cent from 32,008 units a year ago. Hyundai bagged the second spot during the month with a total sales of 4,949 units followed closely by Telco at 4,188 units as against a mere 283 units last year.

Daewoo Motors, riding on the Matiz boom, saw sales spurt two folds to touch 2,801 units as against 875 units in the same month last year followed by Hindustan Motors at 2,038 units from 1,830 units a year earlier.

Ind Auto also witnessed a major spurt in its Uno and Siena sales during the month to touch 1,800 units, up 78 per cent from 1,008 units a year earlier. Honda Siel was the only other car maker to have witnessed a growth in sales. Its City Sedan sales touched 850 units during the period, up 29.5 per cent from 656 units in July 1998.

General Motors saw its sales dip by 35 per cent at 220 units from 342 units last year while Ford India’s Escort sales dropped 27 per cent to 302 units as against 414 units last year. Mercedes Benz India’s sales for the period stood at 88 units, down 13 per cent from 102 units a year earlier.

SIAM, however, did not provide sales figures for Pal-Peugeot and Premier Automobiles.

The entire multi-utility vehicles (MUV) sales dropped 8 per cent during the month to touch 7,939 units as against 8,622 units a year earlier. All players in the segment, including Maruti, Mahindra and Mahindra, and Telco recorded a negative growth during the period.

In the scooter segment, Bajaj Auto Limited sales dipped 12 per cent to close at 47,888 units followed by LML, whose retails dropped 16 per cent to 22,499 units. Maharashtra Scooters’ sales dropped 35 per cent to 8,181 while TVS-Suzuki’s scooter sales dropped 36 per cent at 11,412 units.

Kinetic Motor was the only manufacturer to have closed the month with a growth in sales year-on-year. Its sales for July 1999 stood at 10,016 units, up 1.3 per cent from 9,881 units a year earlier.

In the motorcycle segment, total sales surged 8 per cent to 129,363 units in July 1999 from 119,395 units a year ago. Hero Honda and TVS-Suzuki were the only two manufacturers in the segment to have recorded a growth in sales. Hero Honda’s bike sales surged 26 per cent to touch 57.768 units while TVS-Suzuki saw sales grow 22 per cent at 28,708 units.

Bajaj Auto’s motorcycle sales dropped 6 per cent at 25,494 units while Escorts Yamaha’s sales dropped 23 per cent at 16,076 units. Royal Enfield also witnessed a 37 per cent drop in sales at 1,316 units.

Total moped sales dropped 2 per cent at 63,064 units from 64,933 units a year earlier.

TVS-Suzuki’s moped sales during the month grew 20 per cent at 35,901 units while Bajaj Auto witnessed a 4.4 per cent growth in sales. Rest of the players — Kinetic Engineering and Majestic Auto — however, saw sales drop during the period.

In the heavy commercial vehicle segment, players seem to have moved out of the recession with total sales recording a 25 per cent surge at 6,659 units as against 5,325 units a year ago. Ashok Leyland sold 2,271 units, up 29 per cent while Telco sold 4,388 units, up 22 per cent from a year ago.

In the light commercial vehicle segment, barring Ashok Leyland and Telco, all other manufacturers recorded a growth in sales during the period.

New Zen Classic to cost 3.64 lakh
Tribune News Service

NEW DELHI, Aug 23 — Maruti Udyog Limited today launched Zen Classic — a top-of-the-line addition to its Zen world car range.

Priced at Rs 3.64 lakh ( ex-showroom Delhi), Zen Classic meets the Euro-I emission norms and is the latest addition to the Zen range which includes the Zen LX, Zen VX, Zen D (Diesel) and Zen AT (Automatic).

The new model has been positioned at par with the high-end models in the small car segment which includes, Daewoo’s Matiz and Hyundai’s Santro.

The Zen Classic’s body coloured bumpers have been given chrome finished panels and also the round head lamps and tail lamps.On the interiors, the dashboard has been redesigned with wood finish louvers. The car also features leather finish upholstery and injection moulded door trims.

According to MUL MD Jagdish Khattar, the launch of the vehicle reflects the company’s recognition of sub-segments within the Zen market.”

As the market matures, opening up of such segments is critical to success as it allows us to cater to a wider variety of consumers”, he said.

Fiat hikes stake in Ind Auto
Tribune News Service

CHANDIGARH, Aug 23 — Fiat India Automobiles Ltd (FIAL) has increased its equity stake in its joint venture, Ind Auto Ltd, from 51 per cent to 76 per cent and changed its name to Fiat Ind Auto Ltd (FIAL).

FIAL, the holding company for Italy’s Fiat Auto Spa’s administrative activities in India, pumped in Rs 250 crore into the joint venture to up its equity stake by 25 per cent.

The Board of the joint venture has also been reconstituted with Vinod Doshi as the non-operative Chairman, P Sighicelli as non-operative Vice-Chairman, G B Ravina as Managing Director, Maitreya Doshi as a whole-time Director and R Carli as a member of the Board.

With the increase in the holding in FIAL, Fiat said, all operations under Fiat’s “178” world car project for “Siena” and “Palio” ranges would be carried out by the joint venture having its plant at Kurla in North-East Mumbai with a capacity of 50,000 units per annum.

The scope of the upcoming greenfield plant at Ranjangaon in Pune district will be to enhance Fiat’s capacity to meet forecasts of future demand, Fiat said in a statement here today.

Sony India targets 1,000 crore turnover
Tribune News Service

CHANDIGARH, Aug 23 — Sony India, a 100 per cent subsidiary of Sony Corporation of Japan, celebrated the 100th year of the invention of the picture tube by launching flat television, “the Wega”, in the Indian market. The flat TV sets cover the entire range of 14”, 21”, 25”, 29” and 34”.

Mr Rohit Sathe, Regional Manager (North) of Sony India, told TNS here yesterday that the company has also an arrey of digital products like the digital still cameras and digital handy cams to cater to the digital era.

Sony soon plans to launch products like the play station and DVDs. In a two-pronged strategy, Sony is also offering products in TVs hi-fi, personal audio, telephones etc.

The Sony factory at Dharuhera in Haryana has increased its level of indigenisation by developing its vendor base. Exports too have registered a significant increase Sony received the Export Award for the year 97-98.

To meet competition in the hi-fi audio segment, Sony has unleashed a “new generation hi-fi” systems. Priced at Rs 13,000 for a 800W 3CD, remote hi-fi system to a 4000W. 3CD, logic deck at Rs 29,990, Sony has launched eight new models. Also being launched is a new video CD hi-fi model priced at Rs 22,990.

With this, Sony would consolidate its leadership in the hi-fi segment. With a network of 1,400 dealers and 32 distributors, Sony in a span of four years has clocked a turnover of Rs 500 cr in the year 98 and plans to grow to Rs 1,000 cr by the year 2001, added Mr Sathe.

‘New drug’ definition

NEW DELHI, Aug 23 (PTI) — The Government has amended the definition of “new drugs”. The new definition will include devices such as new types of syringes and inter-dental brushes with anti-bacterial filaments, as well as delivery systems such as skin patches and implants.

They will need the Drug Controller of India’s approval and will follow the same approval procedure that is applied for drugs, an official release said. A notice amending the definition of “new drug” contained in Rule 122 (E) of the Drugs and Cosmetics Act, 1945, was issued on August 17.

The amendment also covers misuse of new drugs, imported as a gift, for the purpose of conducting clinical trials without due permission from a licensing authority. Any import of new drug for clinical trials without obtaining the necessary permission will be treated as a violation of the drugs and cosmetics rules, even if it is received as a gift, and will attract penalty.

Harco Bank, NABARD sign MoU
Tribune News Service

CHANDIGARH, Aug 23 — An MoU was signed today by NABARD, the government of Haryana and Harco Bank to ensure short-term cooperative credit structure in the State. The MoU was signed by Mr L.M. Goyal, Financial Commissioner & Secretary, Cooperation, Haryana, Mr N.R. Kannan, Chief General Manager, NABARD, and Mr H.S. Rana, Managing Director, Harco Bank. The MoUs in respect of 17 central coop banks of the State were also signed.

Mr Kannan said the concept of annual MoUs was introduced from 1997-98 to improve the cooperative credit delivery system. After completion of the first DAP, a plan of next 3 years covering the years 1999 - 2000 to 2001 - 2002 has been prepared. Mr Goyal said all bottlenecks will be removed to ensure adequate flow of credit to various sections of society.

Punjab paddy for other States

NEW DELHI, Aug 23 (PTI) — The Food Ministry has decided to either move paddy or brown rice from Punjab to other needy States in an effort to overcome the shortage in milling capacity in the northern State and reduce wastage, a Food Ministry official said.

“We have decided to move paddy or brown rice out of Punjab in an unlimited quantity to wherever the States want,” Food and Civil Supplies Secretary M.D. Asthana told PTI.

Punjab procured nearly 60 lakh tonnes of rice from the growers annually but total milling capacity in the State was only 30-40 lakh tonnes.

“The decision will be significant in view of the rice procurement in Punjab expected to increase to 90 lakh tonnes next season (October 1999-September 2000),” the official said.

The decision will result in quick movement of rice and it will be a simple process.

In case, the States are hesitant to take paddy, then they will be given brown rice, which is got by dehusking the paddy.

“There should be no problem in dehusking as it can be down even on roadsides in Punjab,” he said.

Such a decision will help the States like Tamil Nadu which required an additional 10 lakh tonnes of rice annually from the Central pool and Karnataka which needed 12 lakh tonnes.

Rs 5 crore ST relief for G.A. Cement
Tribune News Service

SHIMLA, Aug 23 — The Himachal Pradesh High Court has ordered the State Government to reimburse a sales tax of Rs 5 crore which was recovered from Gujarat Ambuja Cement Ltd after withdrawing certain incentives granted to the cement companies.

The order has been passed by a Division Bench consisting of Chief Justice D. Raju and Justice Lokeshwar Panta, while disposing of a petition of Gujarat Ambuja Cements.

The company had challenged the discontinuity of the sales tax incentives by the Excise and Taxation Department. These incentives were applicable to the company under the industrial policy of 1991 as amended from time to time.

The court set aside the orders of the revisional authority which approved the recovery of sales tax after coming to the conclusion that the company did not satisfy the eligibility criteria for the incentive.

The court made it clear that the company will be entitled to the benefits and incentives with effect from September 26, 1995 when it started commercial production.

Pfizer plan cleared

NEW DELHI, Aug 23 (PTI) Pfizer’s proposal to set up a wholly-owned subsidiary and Hotline Haier’s move to manufacture home appliances were among the Rs 260 crore foreign direct investments (FDI) cleared by the Government today.

Pfizer will manufacture and market drugs from basic stage by investing $I million initially, FIPB sources said.

The company will manufacture five drugs including anti—cancer drug droloxifene, flucanazole and sulbsetum.

The FIPB deferred the proposal of Honda Siel to import luxury cars from its parent plant in Japan.

Pfizer’s proposal was earlier referred back to the Chemicals and Fertilisers Ministry as it already had a presence in the country through another company, which was listed on the Indian bourses.

Chinese home appliances major Qingdao Haier Overseas Electronics Ltd will pick up a 30 per cent stake in Hotline Haier.

The U.K.-based Alstom Engines will hike its equity in its Indian venture to 75 per cent from 51 per cent through an FDI of about Rs 1 crore.

BSES repays loans

MUMBAI, Aug 23 (PTI) — BSES has pre-paid all its outstanding loans sanctioned by Indian financial institutions, having paid the last instalment of Rs 38.50 crore recently. A BSES statement here said this would significantly reduce the interest burden on the company.The company has now pre-paid a total amount of Rs 147 crore in 1998-99.

BSES had pre-paid Rs 44 crore to the FIs as well as the entire outstanding amount of $ 15 million to International Finance Corporation in 1998-99.BSES Telecom Limited has drawn up plans to launch Internet service in Mumbai in the last quarter of this year.

“BSES Telecom, which is planning to cater to a customer base of over one lakh for the service, wants to be a key player in the business of value-added Internet services”, a company statement said here today.

Forex
US $ Rs 43.50/51
Stg £ Rs 70.18/21
Euro Rs 46.26/29
Jap yen (100) Rs 39.15/18

Softspec tie-up
CHANDIGARH, Aug 23 (TNS) — Softspec Software, a city-based company, has struck an alliance with Oracle Corp., USA under which Oracle is providing technical support and latest development tools to Softspec for e-commerce solutions. Softspec is imparting software education to select participants in e-commerce and client- server solutions using Oracle, Forms 6.0 and JDeveloper. This technology is currently available only with Softspec in this region.

Godrej Soaps
CHANDIGARH Aug 23 (TNS) — The Management and workers of Godrej Soaps and its associate companies have contributed nearly Rs 12 lakh for the Kargil fund. The companies are Godrej Soaps Limited, Godrej Lee Ltd, Godrej Pillsbury Ltd Godrej Agrovet Ltd, Godrej Photo Me Ltd and Godrej Properties and Investments Ltd.

CII training
JALANDHAR, Aug 23 (TNS) — A one-day training programme on principle of self-assessment for business excellence was organised by the CII here today. Mr Gursaran Singh, Chairman, Jalandhar Zonal Council, addressed the valedictory session. The programme was conducted by Mr S.K. Kakkar from the CII TQM division and attended by senior managers.