The Tribune, Chandigarh, India

	Vijay Mallya on a high Bangalore, April 7 Vijay Mallya-led UB Group today said it had become the world's second largest liquor maker after Diageo with sales of over 100 million cases in the last 12 months and was certain to be the number one by the next fiscal. In the process, group firm United Spirits had overtaken France's Pernod Ricard, Mallya told reporters here, adding that the company had set its eyes on the number one spot. "We are now clearly the second largest spirits company in the world and we have outperformed our global competitors," he said, adding that the firm had done "extremely well despite the economic slowdown". United Spirits (USL) in the past 25 years sold over 740 million cases of spirits products, making a total of 26 billion bottles of alcohol beverages of different pack sizes, he added. "We are certain that our additional sales in the next financial year will take us to the number one position globally," he said. Mallya said it took USL 12 years to cross the first 100 million cases, another five years for the next 100 million cases and four years for the third 100 million cases. It took three years for the company to cross the fourth, fifth and sixth million cases and "finally we achieved 100 million cases sales in just 12 months". "Our three years’ compounded annual growth rate is 15 per cent plus. If you take the two other large spirits companies in the world, Diageo and Pernord Ricard, they have achieved only single digits," he said. — PTI
	Hyundai rolls out cheaper i20 New Delhi, April 7 Hyundai Motor India today launched a new version of its premium compact car i20 priced between Rs 4.52 lakh and Rs 7.48 lakh, while adding two more variants to its existing range. The company said it had added new features to its existing variants Magna (base model priced Rs 4.91 lakh) and Asta (top-end priced up to Rs 7.48 lakh), while introducing two new levels, Era (priced at Rs 4.52 lakh, thus, becoming the entry level) and Sportz (Rs 5.32 lakh, positioned between the Magna and the Asta). Era and Sportz will be available both in petrol and diesel variants. With the new i20 range, the diesel version across all variants will be available in six-speed manual transmission, the company said. Besides, the new i20 will have added features like manual transmission shift indicators in diesel variants, a prompt for the driver to change gears to maximum fuel economy. It will also have fully automatic temperature control system (in Magna), a burglar alarm, steering wheel with audio remote and passenger vanity mirror (in Sportz and Asta), it added. The company said as per the Automotive Research Association of India (ARAI), the new i20 petrol version was capable of delivering a mileage of 18.15 km/litre and the diesel variant can deliver a mileage of 21.93 km/litre. Both the petrol and the diesel variants comply with the recently introduced BS-IV emission norms. Mahindra hikes prices Mahindra & Mahindra today said it had hiked prices of its utility vehicles by up to Rs 26,100. M&M has increased the price of Scorpio between Rs 10,300 and Rs 17,500. It has also hiked utility vehicle Bolero's price by Rs 26,100, while Xylo will now be expensive by Rs 15,300-15,900. Audi’s SUV on discount Audi today launched a limited edition of the diesel version of its Q7 sports utility vehicle at a specially discounted price of Rs 58.68 lakh (ex-showroom Mumbai), which is Rs 7.45 lakh less than the existing car. The limited edition of the Audi Q7 4.2 TDI has been launched to commemorate the completion of three years of Audi's operations in India, the company said in a statement. — PTI
	First Reliance solar plant for C’wealth Games New Delhi, April 7 Reliance Industries (RIL) today said it had commissioned the country's first 1 MW solar plant to power a stadium to be used in the upcoming Commonwealth Games. The company's solar energy initiative, RIL Solar Group has "successfully implemented and commissioned 1-MW solar plant on the roof of the Thyagaraj Stadium here," RIL said in a press statement. Thyagaraj Stadium is planned to be a model green stadium and will host netball competition in the upcoming games. The RIL Solar Group has also implemented power plants in the R K Khanna Tennis Complex as solar LED street and garden lights in the Commonwealth Games Village. "With these, the RIL Solar Group has installed 100 per cent of the solar PV power generating equipment for the Commonwealth Games 2010," it said. The solar initiative is one of the major ones to compensate for carbon-di-oxide (CO2) emissions to be released through the game. The RIL Solar Group installed and commissioned the country's first 1-MW solar plant in a record duration of less than 3 months. The power plant is expected to generate around 1.4 million units of electricity per year. It will cater to the power requirements of the stadium and the surplus will be fed to the grid. The solar power generated through 1 MW solar PV power plant at Thyagaraj Stadium is expected to result in emission reduction of more than 1,200 tonnes of CO2 per year. The group has also implemented three 2.6 KWp solar PV power plants on the roofs of individual tennis courts in the R K Khanna Tennis Complex, which will play host to the tennis event during the games. Further, there are 34 back-up solar PV systems of 3 KWp each along with 180 solar LED street and 500 garden lights in the Commonwealth Games Village, which will house athletes, coaching and support staff. — PTI
	ASBA facility for institutional investors Mumbai, April 7 The Security and Exchange Board of India (SEBI) has extended the ASBA facility, under which deposits of public issue applicants will remain in their accounts till the shares are alloted, to institutional investors. The new rule will be effective from May 1. "Sebi has decided to extend the ASBA (Application Supported by Blocked Amount) facility to QIBs (Qualified Institutional Buyers) in public issues opening on or after May 1, 2010," SEBI said in a release. With this move, the ASBA facility will be made available to all market participants. Retail and high networth individuals (HNIs) are already eligible to use this facility. The move will help the investors save interest cost on borrowing and also help get rid of the hassles associated with refund to investors. SMC Capitals Equity head Jagannadham Thunuguntla said, "Sebi has given a level-playing field to all classes of investors. It is a help to the institutional investors to save the interest cost." The ASBA was first used in the public issue of 20 Microns September last year, where around 10 per cent of the retail applicants used this facility. Last year, the ASBA facility was also used in the rights issue of Tata Motors. — PTI
	DSE awaits Sebi nod New Delhi, April 7 Having made all preparations to resume trading, the Delhi Stock Exchange, shut for the past eight years, is awaiting Sebi's nod to restart operations. Exchange officials expect Sebi to grant approval soon, thereby enabling commencement of operations by June. "We are fully prepared to restart operations. We are only awaiting the nod," DSE CEO H S Sidhu told PTI here. Although Sidhu did not disclose the time as to when the announcement to commence trading on the DSE would be made, but sources believe that business should start within two months. According to official sources, after the approval, DSE board of directors will hold a meeting to decide the date of restarting trade. Meanwhile, the exchange has added 125 new members, each of whom have paid a fee of Rs 5 lakh, taking the total number at members to 495. DSE has about 2,800 listed companies. "We will have a business of Rs 1,000 crore within a year of starting trade. Volume of trade will be a major focus area once trade resumes," Sidhu said. — PTI
	Tata to get global Indian award Toronto, April 7 Ratan N Tata, India's top industrialist and Chairman of the Tata Group, has been selected for the '2010 CIF Chanchlani Global Indian Award' for his outstanding global leadership, vision and professional excellence. The award, announced by the Canada India Foundation yesterday, carries $225,000 and citation. “The award would be presented to Tata at the annual Award Gala of Canada India Foundation to be held in Vancouver on May 15,” Barj Dhahan, Gala Chair and Co-Chair of the Canada India Foundation said. Tata joined the Tata Group, India's largest business conglomerate, in 1962 and replaced his predecessor JRD Tata as Chairman of Tata Sons in 1991. Since then, the Group's revenues have increased 12-fold. The Group has acquired Jaguar & Land Rover from Ford Motor Company and Corus Group, an Anglo-Dutch steel producer under Tata's guidance. Tata has been honoured India's second-highest civilian award, Padma Vibhushan, in 2008. — PTI
	DoT reply on CAG queries soon, says Raja Girja Shankar Kaura Tribune News Service New Delhi, April 7 Facing fire from the Comptroller and Auditor General (CAG) for alleged losses to the exchequer to the tune of Rs 26,000 crore while awarding telecom licences in 2008, the Department of Telecom (DoT) will respond to queries raised by the independent audit body. Telecom Minister A Raja today said some queries had been received from CAG and the DoT would respond to it soon. He was speaking to reporters on the sidelines of a function here. CAG has accused the minister of disregarding the views of experts and following an outdated and faulty policy in awarding new licences in 2008, leading to the loss of Rs 26,000 crore to the exchequer. Incidentally, similar charges had also been made by several political parties against Raja even before the last round of general elections. But despite all allegations, Raja has continued to survive. He was charged with distributing new licences at 2001 prices of Rs 1,658 crore for pan-India operations bundled with start-up spectrum of 4.4 MHz. “The CAG is sending some queries according to their own perceptions and inferences and it will be responded to by DoT,” the minister said when asked about the CAG inquiries. He, however, said this was not an annual report of CAG. Incidentally, the CBI has also filed a case against some unknown officials of DoT for conniving with private companies for manipulation of licence terms and conditions. It carried out raids at Sanchar Bhawan and also at the offices of private companies. The agency in the FIR said the licences were sold without competitive bidding at a nominal rate based on prices fixed in 2001, resulting in a loss of Rs 22,000 crore to the government. In its report, CAG has lent credence to some of the CBI’s charges. Raja, “single-handedly” decided to continue with the policy that cost the government Rs 26,685 crore in revenue, CAG said in its annual report. The new licences were given as per the recommendations of TRAI, which had opposed auctioning of licences in 2007, saying this would give undue advantage to the incumbent operators who have been given licences under the same terms and conditions till early 2007. “We are preparing a due reply to be sent to CAG... Thereafter, observations can be made,” Raja said, adding that the reply would be sent by tomorrow.
	Poultry processing plant for Kharar Ruchika M. Khanna Tribune News Service Chandigarh, April 7 Chandigarh-based poultry processing company, Sagri Foods Private Limited will be setting up a new poultry processing plant at Kharar, as it targets new markets for exports. The company, which has recently started exports to Vietnam, is now looking at starting exports to Hong Kong, China and some African countries. Though the first export order was dispatched by the company to Vietnam last month, it is now looking at exporting 600 to 1,000 tonne of chicken, chicken products and chicken waste products during this year. Talking to TNS here yesterday, Surjit Singh, managing director of Sagri Foods, said the plant at Chanalon, near Kurali, was commissioned in January last year. “This plant has a capacity to dress about 1,000 birds per hour. This plant is already processing poultry upto 75 per cent of its capacity. As we get more and more orders, we are hoping that the plant will reach its maximum capacity in a few weeks time. As we look at new markets, we are all set to build a new processing plant at Kharar at an estimated cost of Rs 12 crore. This plant, with a capacity to process 4,000 chickens per hour, will be commissioned by the end of year 2011,” he said.
	Set top box portability by Dish TV soon Chandigarh, April 7 Taking a lead in revolutionising direct-to-home (DTH) service in the country, Dish TV is all set to start set-top box portability. The technology, which will ensure that a set-top box of one service provider can be used for availing DTH service from another service provider, is to be launched within three months. Talking to mediapersons here today, Salil Kapoor, COO, Dish TV, said they were in the process of developing a CAM card (conditional access model card), which when inserted in a set-top box would make it compatible with any service provider. “So far, set top boxes for DTH come in bundled package with the service provider. If you change the service provider, you also have to change the set top box. We will be the first operator in the country to start set top box portability,” he said. — TNS
	Corporate News Promoters buy RIL’s Rs 113 cr shares Mumbai, April 7 Reliance Industries' promoter entities have acquired shares worth Rs 113.57 crore through off-market transactions, the Mukesh Ambani-led company said today. RIL in a filing to the BSE said four of its promoters had acquired shares of the company worth Rs 113.57 crore. After the transaction, Nityapriya Commercials holds 8.46 per cent, Kshitij Commercials has 10.03 per cent, Kardam Commercials 8.04 per cent and Kankhal Investments and Trading Company holds 10.13 per cent stake in RIL. Five promoters, however, have sold shares of the company worth Rs 78.03 crore through off-market transactions, the filing said. Pipavav to raise Rs 177 cr Pipavav Shipyard today said it would raise Rs 177.80 crore (about $40 million) by issuing debentures to two strategic investors. The board of the company has decided to allot 2.54 crore fully, compulsorily and mandatory convertible unsecured debentures to Valiant Mauritius Partners Ltd and Valiant Mauritius Partners Offshore Ltd of Rs 70 aggregating to $40 million, Pipavav Shipyard said in a filing to the Bombay Stock Exchange. BGR bags Rs 100-cr order BGR Energy Systems today said it had bagged an order worth Rs 100 crore from Power Grid Corporation of India Ltd (PGCIL) for laying fibre-optic cabling. The company has secured a contract worth Rs 99.41 crore, which would be completed in over 22 months, BGR Energy Systems said in a filing to the Bombay Stock Exchange (BSE). NHPC to add 700 MW this fiscal National Hydro Power Corporation (NHPC) today said it would commission 700 MW project during the fiscal 2010-11. “We would add 700 MW capacity during the current financial year, over and above the 120-MW project in Jammu and Kashmir that would be commissioned this month,” NHPC CMD SK Garg told reporters in New Delhi on the sidelines of India Energy Congress. The power company has set a target of adding 5,322 MW by the end of the current Five Year Plan, out of which it has already commissioned 1,030 MW. NHPC has earmarked a capital expenditure of Rs 4,600 crore for the current financial year. Punj Lloyd gets solar contract Engineering and construction major Punj Lloyd today said in New Delhi it had won the country’s largest solar-based contract worth Rs 232 crore for installing water treatment plants in Bihar from the state government. The EPC (engineering, procurement and construction) contract for 850 solar-powered water treatment plants for removal of arsenic and fluoride across multiple districts in Bihar will be implemented on a turnkey basis, a company statement said. “The combined solar power generation of these plants will be greater than 1.3 MW. With the government’s commitment to the National Solar Mission, this project provides the foundation to establish Punj Lloyd as a leading solar company in this space,” it said. — PTI