Greater Noida, February 5
There was a flurry of launches at the 12th Auto Expo today as the automobile manufacturers tried to steal a march over their competitors by promising to bring in more for the Indian roads and satiate the now overwhelming appetite of the consumers to own the best in the world.

There was a lot on offer on the opening day of the ‘media preview’ at the India Expo Mart in the form of new models likely to hit Indian roads in near future to concept vehicles, which could be developed specially for the Indian consumers, to the unveiling of flashy and expensive two-wheelers.

The day started early at 8 am, with the unveiling of two concept vehicles from the country’s largest manufacturer of cars, Maruti Suzuki India Ltd (MSIL).

It showcased two global models — Concept Ciaz and SX4 S-Cross — and expressed its preparedness for the future with two distinct offerings positioned for different segments.

Tata Motors stole the show over rest of the exhibitors by unveiling 18 (the largest) new products across all segments. After launching two passenger cars two days ago, it unveiled a concept compact SUV Nexon along with concept car ConnectNext, giving a glimpse of its future direction in terms of technologies, as it bids to make up the lost ground in passenger vehicles market.

These two cars are among the company's display of 18 vehicles across passenger and commercial segments, under its Horizonext programme.

Overall, 47 automobile makers are participating in the Auto Expo this year, making it the largest auto show ever hosted in the sub-continent. As many as 70 vehicles are to be launched over the two-day period before the show opens for public on February 7.

Japanese automobile maker, Nissan, while committing itself to the “largest growing market in the world” lifted the covers over the next generation Sunny for India and also gave a look into Datsun’s possible future by revealing a dramatic new concept the Datsun redi-Go Concept.

Fiat Group Automobiles India Private Limited unveiled Fiat Avventura (a global debut in India), Abarth 500 and the new Fiat Linea.

General Motors India launched the all-new Chevrolet Beat hatchback and the new Chevrolet Adra concept vehicle. The models are among the 13 concept and production vehicles appearing on the Chevrolet stand at the show.

Honda Cars India Ltd gave a glimpse of its mid-sized stylish MPV Mobilio and the all-new and the third generation Honda Jazz. Toyota Kirloskar Motor (TKM) unveiled the all-new Corolla Altis.

In the luxury segment, besides Audi, BMW and Mercedes showcased what they are looking at offering to Indian consumers in near future. Audi unveiled A3 Sedan, apart from special versions of its class-leading and award-winning SUVs — Audi Q3, Q5 and Q7.

Hyundai Motor India launched the third generation Santa Fe.

Among the two-wheelers, Hero MotoCorp, Vespa, Suzuki and Harley Davidson unveiled various models. 

New Delhi, February 5
Ranbaxy Laboratories has made a provision of Rs 257.4 crore in its financial results due to the impact of the US FDA ban on import of products made at its Toansa (Ropar) plant in Punjab.

In January, the US Food and Drug Administration banned the import of Ranbaxy products from its Toansa plant due to deviations from good manufacturing practices. The Toansa plant was the company's fourth in the country after Mohali, Paonta Sahib and Dewas to be slapped with a ban by the USFDA.

Announcing its financial results today, Ranbaxy said it has since advanced investigation of the findings of the USFDA and submitted its response to the US health regulator on February 3.

The US health regulator said it exercised its authority under a provision in a January 2012 consent decree, which permits the agency to extend those terms to any Ranbaxy-owned or operated facility if an FDA inspection finds it in violation of norms.

Ranbaxy said the remediation plan for Dewas and Paonta Sahib progresses in line with the consent decree while all commitments for the Mohali plant have been met.

"We are facing some major regulatory challenges and are disappointed with the developments. I would like to assure all our stakeholders that we will do whatever is necessary to address all concerns of the USFDA and are committed to resolve them as early as possible," Arun Sawhney, CEO and managing director, Ranbaxy, said.

Ranbaxy’s fourth-quarter net loss narrowed to Rs 158.94 crore, mainly on account of higher sales of its Absorica acne drug.

The company had posted a loss of Rs 492.44 crore a year earlier.

New Delhi, February 5
A total of 21 rounds of bidding took place till late this evening in the second generation (2G) spectrum or airwaves auction that began on February 3.

Spectrum auction took off from about Rs 45,000 crore revenue mark and another seven rounds of auction took place today pushing up the value of the spectrum on the block.

The ongoing spectrum auction has surpassed November 2012 and March 2013 auction both in terms of revenue and duration. Out of five online spectrum auctions, the present auction is the largest in terms of quantum of airwaves placed put for sale and third longest till date in terms of duration.

3G auction in 2010 lasted for 34 days, broadband wireless airwaves ended in 16 days while 2G auction in November ended in two days and CDMA auction in March concluded the same day.

Eight mobile phone service providers are participating in the auction for 46 MHz in 900 MHz band and 385 MHz in 1,800 MHz band.

As it emerged at the end of Day 3, bidding for the 900 MHz spectrum in the Delhi warmed up and left Mumbai, which had been the most sought after over the first two days, behind.

Bidding in the 900 MHz spectrum in Delhi had crossed Rs 574 crore today against Rs 563 crore for Mumbai. Kolkata, the other circle offering the more efficient 900 MHz spectrum, still saw a negative demand with seven blocks still to be bid against.

The spectrum in 900 Mhz band put for auction is held by Vodafone, Airtel and Loop. While Loop Mobile is not participating in auction, it is a must win situation for Vodafone and Airtel in auction to retain their airwaves. New entrant Mukesh Ambani-led Reliance Jio Infocomm is also competing for these airwaves. Mobile signal transmitted in 900 Mhz band gives almost double coverage than those transmitted in the 1,800 Mhz band.

While Bharti Airtel's 20-year licence is going to expire in Delhi and Kolkata circles, Vodafone India's 20-year licences in Delhi, Mumbai and Kolkata circles too are getting over November this year. 

Chandigarh, February 5
The Punjab Government has allotted 50 acres of land to IT bellwether Infosys for setting up an IT/ITES special economic zone (SEZ) at Mohali.

"We have allotted 50 acres of land to Infosys in Mohali for setting up its project," Punjab Investment Bureau CEO Anirudh Tiwari said here today.

Infosys had signed an MoU with the Punjab Government while proposing to set up an IT/ITES SEZ project with an investment of Rs 500 crore in Punjab Investors Summit between December 9-10 last year. — PTI

BRIEFLY

Saab, Leyland tie up for Army’s defence plan
New Delhi: Ahead of the four-day Def-expo that starts on Thursday, Swedish firm Saab Automobile and Ashok Leyland have joined forces to compete for the Indian Army’s Short Range Surface to Air Missile (SRSAM) air defence programme. Saab and Ashok Leyland are teaming to meet the SRSAM requirement that combines the Saab BAMSE missile system with Ashok Leyland’s high-mobility vehicles. — TNS

JK Organisation buys majority stake in DELOPT
New Delhi: JK Organisation has acquired a majority stake in Deepti Electronics & Electro Optics Pvt Ltd. (DELOPT), a Bangalore-based company manufacturing defence electronics, avionics and electro-optics, through its group company Global Strategic Technologies Ltd (GST). JK Organisation has been doing work in the defence, aerospace and security domain through GST that provides solutions in select defence areas such as assured mobility systems, ballistic laminates and has several initiatives in the pipeline. — TNS