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Tuesday,
June 25, 2002, Chandigarh, India  
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Maruti,
Hyundai sales decline Online
trading of sugar soon IT trade
not hit by border tensions Microsoft
signs pact with CMC
Beware of
lucrative offers on Net |
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It’s
recruitment time for IT firms
Chautala
to visit China, Hong Kong
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Maruti, Hyundai sales decline
New Delhi, June 24 Improved performance by other segments including commercial vehicles and motor cycles was not just enough to lift the pressure on automobile industry from the very beginning of the current financial year in the aftermath of a new auto policy announced by the government in March. Car sales dropped by 9.7 per cent to 39,171 units from 43,364 units in May 2001, data released by the Society of Indian Automobile Manufacturers (SIAM) showed today. Sales during April-May 2002 fell by 8.8 per cent to 72,427 cars from 79,469 cars last year. Commercial vehicles, a barometer of economic growth, however, recorded an impressive 53 per cent jump to 12,981 vehicles (8,487 vehicles in May 2001). Sale of utility vehicles was lower by 15.3 per cent at 8,240 units (9,728 units) while multi-purpose-vehicles (MPVs) posted a 15 per cent dip at 4,546 units in May 2002. Two-wheeler sales rose by 29 per cent to 4.23 lakh units on the back of strong growth by motor cycles and mopeds. Sale of motor cycles went up by 51 per cent to 3.22 lakh units (2.13 lakh units) while that of mopeds rose by 5.5 per cent to 27,410 units (25,978 units). But, scooter sales fell by 16.8 per cent at 73,578 units (88,464 units). In the three-wheeler category, sales went up by 12.8 per cent to 16,417 units (14,551 units). Market leader Maruti Udyog recorded a 21.6 per cent dip in car sales at 20,233 units in May this year (25,822 units in May 2001). The local subsidiary of South Korea’s Hyundai Motor witnessed a 4.2 per cent drop selling 7,761 cars (8,109 cars) while that of Tata Engineering fell by 36.6 per cent at 3,018 cars (4,761 cars). Driving on good response to its new compact car ‘Palio’, sales of Fiat India grew by almost eight times to 3,525 cars during the review month from 450 cars sold a year ago. Honda Siel Cars’ sales rose by 17 per cent to 831 units (710 cars) while Hindustan Motors posted a 24 per cent growth at 1,519 cars (1,226 cars). US auto giant Ford Motor Company’s local arm recorded a six per cent rise at 1,584 cars (1,495 cars) while its native rival General Motors posted a modest three per cent growth at 639 cars (621 cars in May 2001). Luxury car maker DaimlerChrysler’s May 2002 sales were 64.1 per cent less at 61 units. In the utility vehicle segment, sales of market leader Mahindra and Mahindra (M&M) and Toyota Kirloskar declined by 5.4 and 32 per cent at 3,705 and 1,702 units respectively. Tata Engineering and Maruti also witnessed 8 and 51.1 per cent drop in sales at 2,205 and 277 units respectively. In the multi-purpose or van type vehicle category, Maruti recorded a 14.8 per cent dip at 4,529 units.
PTI
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Online trading of sugar soon
Mumbai, June 24 eSugarindia (aB2B portal), promoted by Bajaj Hindustan of the Bajaj group, has finally received a grant of recognition from the Forward Market Commission (FMC) in last week and the exchange is expected to operational very soon. Once operational, the dream of online trading in sugar spot and futures, after the “decontrol” of the sugar sector will come true, industry sources said. To make it effective and successful, the eSugarindia has already roped in the Maharashtra State Sugar Mills Federation (MSFS) that represents around 140 sugar mills in the state by signing an MoU. As per the MOU, the MSFS will take up about 7 per cent of the equity in the portal through its members. The company is currently busy in talks with the Bombay Wholesale Sugar Merchants Association to work closely and strengthen the network, Mr Himanshu J Shah, Senior Vice-President Corporate Affairs, eSugarindia told UNI. Talks are also on with bulk sugar consumers like Hind Lever and some other pharma and confectionery companies to enroll them as members of the exchange, the sources said. According to the sources, the trading platform made available by the eSugarindia is expected to integrate both spot and futures trade in
sugar. UNI
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IT trade not hit by border tensions New Delhi, June 24 “The Indian software industry is highly reliant on exports, the travel advisories are acting as a major deterrent to conducting business. We are stressing for the advisories to be lifted with immediate effect”, Nasscom
president Kiran Karnik said. Nasscom had conducted a opinion poll among software and service companies in which more than 70 per cent respondents said current border tensions between India and Pakistan did not adversely affect their business.
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Microsoft signs pact with CMC
New Delhi, June 24 This entails the alignment of existing CMC infrastructure technologies on the Microsoft .NET Platform. The MoU was signed by Rajiv Kaul, Managing Director, Microsoft Corporation India Pvt. Ltd. and S. S. Ghosh, CEO & Managing Director, CMC Ltd. “Aligning with CMC will enable us to reach out more effectively to customers in core verticals such as finance, manufacturing, government and infrastructure,’’ Mr Kaul said. By providing CMC early access and training on .NET technologies, “we will also create a future ready platform to work together for leveraging both local and global business opportunities,’’ said Mr Ghosh terming the alliance as a win-win situation for both the companies. Microsoft has already trained more than 250 key members from CMC on Microsoft .NET technology. CMC too has aligned its technical and sales teams to address specific opportunities on the Microsoft .NET technology platform/products.
UNI
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Beware of lucrative offers on Net
New Delhi, June 24 “How about turning six pounds into six thousand: It’s simple and easy, the investment is only six pounds and this is not indecent or illegal.” Sounds interesting and luring. But beware! These and many more of such messages, increasing your junk e-mail quantum daily, may actually be fraudulent and leave you high and dry. With the IT-enabled services market all set to become a Rs 81,000-crore industry by 2008, various foreign companies are wooing Indians for outsourcing jobs because of availability of cheap labour here. While most of big brands deal directly with established networks here, hundreds of small ones just send the junk mail to hook individuals who fall an easy prey. “Since we do not have any option to check their credentials, we start working for them... the result even after a year, there is no sign of any payment,” says Gundal, who has been doing such work for the past two years. “Anything relating to computers or the Internet and people are ready to jump in as they think this is an easy way to become a millionaire overnight. These companies take advantage of this very fact and keep them hooked, offering them both smart deals and dollars,” says, Gundal. “But after six months or so, these fly-by-night operators suddenly close down shop or change names,” he says. Gundal recalls his own experience: when his dues became over $ 500, after repeated reminders he was told that the company had closed down shop more than a year ago. He had nowhere to go. “The experience of most Indians on the Net has not been good as most of the companies offering such jobs are overseas and there is no way to find out their credibility,” says Pravin Anand, an Internet lawyer, who himself was cheated by an online bookshop. “In such a case, there is no way that the police too can file a complaint against the company concerned or take any action, because its whereabouts are not known,” says Anand. US-based National Consumers League (NCL), in a report last month warned of the dangers lurking in the e-mail. According to a survey by NCL, 30 per cent of the respondents said they had received offers to make money working at home. “While not all unsolicited messages are fraudulent, consumers should be cautious of anyone who promises them easy money, incredibly cheap prices or “free” services that may have hidden costs,” the report warns. Most of the companies promising a quick buck offer payment for reading e-mails. The companies send the advertisements by e-mail and pay for each mail that a person reads for them. One can earn even more by referring friends and getting paid even when they read the mail, they claim. Work-at-home schemes are among the top 10 Internet frauds reported to the NCLF’s Internet Fraud Watch last year. So, before falling for big money, do some serious home work,” says Anand.
PTI
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It’s recruitment time for IT firms
New Delhi, June 24 Analysts say the blue-chip software companies, which nearly applied a brake on recruitment last year due to a slowdown, have begun a hiring drive but are being selective about quality. "Things have started to look up as far as recruitment by IT companies are concerned. The major players are now making a calculated decision to bolster their workforce," said Deepanjali Bagai, an IT analyst with ICRA Ltd. "As global customers look for ways to prune spending and increase outsourcing, the Indian companies are getting ready to hire again, anticipating new demands from clients. "But the companies are not likely to go for aggressive recruitment as we have seen in the past few years because the overall environment is still very competitive. They will adopt a circumspect attitude towards recruitment," Bagai told IANS. The spectre of job freezes rose in the Indian IT industry last year as firms grappled with the shock of a swift demand slowdown in the global tech market. But job cuts have been very small compared to the USA. Adverse developments back home like the threat of military conflict between nuclear-capable India and Pakistan and sectarian violence in Gujarat also added to the woes of technical job seekers. Despite the jitters, there have been no large-scale layoffs at India's top companies. Rather, many leading Indian companies merely deferred hiring. "When the downturn melts away and customer demand picks up, maintaining sufficient staffing will pave the way for renewed business activity in the IT services sector," said Bagai. "I think most of the hiring we see over the next few months will be a result of the manpower needs that most top rung companies had deferred last year because of the slowdown. Tata Consultancy Services (TCS), India's biggest software developer, has plans to hire some 3,000 professionals this year to add to its existing strength of over 19,000. TCS executives said they were not only scouting for talent within the country, but also in Hungary, Uruguay, Australia and Britain where the company has established development centres. They said the firm plans to hire more fresh graduates from campuses than last year. TCS ended its fiscal ended March, 2002, with revenues of Rs.41.87 billion, and a growth rate of 35 per cent over the last fiscal. TechSpan Inc., a U.S.-based tech start-up promoted by an Indian American, plans to double the number of software professionals by the end of the current fiscal year to manage its new facility in India, said Chairman Arjun Malhotra. Adobe Systems is reportedly expanding its research and development facility in Noida by adding 40 software engineers in the next two months. But, said an official of a Delhi-based independent HR management firm, "The IT firms are more inclined to hire people with at least four to six years experience, with specific skill sets or industry expertise." "Overall, there is a cautious approach in the industry. Also, people are really not thinking of jumping ship unlike perhaps a year ago. This time they are not hiring just anyone with a technical qualification." Nasscom has forecast IT services and software exports to grow 30 per cent in the year up to March, 2003, after managing 29 per cent growth in the previous year.
IANS
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Ordinance on NPAs Crisil rating Britannia Foods Hind Newsprint Hartron projects Lufthansa offer Kitchen Expo |
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Gurgaon and Faridabad districts
can be in for a major boost in developments with the state government
receiving a number of foreign offers for setting up an IT facilities
and low-cost housing projects.
