Page 79 - Companies

Maruti Suzuki launches SX4 diesel variant

India's automobile major Maruti Suzuki launched the much awaited diesel model of its mid-sized sedan SX4 car at New Delhi on Tuesday. With an average of 21.5 kilometres per litter, the car is priced at price rupees 7.74 lakh. Speaking to the media persons on the occasion, Executive Director of Maruti Suzuki India Limited Mayank Prateek highlighted various plus factors in favour of the car and termed it as a notable milestone in the saga of the company.

Tata Motors Q3 net revenue grows

Tata Motors on Friday, while announcing its financial result of third quarter in Mumbai, reported consolidated revenue for the quarter ended December 31, 2010 of Rs. 31,685 crores, posting a growth of 22 percent over Rs. 25, 975 crore in the corresponding quarter of the previous year, with strong volume growth globally in all major markets. The operating profit (EBITDA) was 4,822 crores in the quarter against Rs. 3057 crores in the corresponding quarter last year.

GM India launches Smartech petrol engine

Making a number of sales and products announcements, General Motors (GM) India on Thursday launched its made in India new petrol engine in New Delhi which would be fitted into its hatchback beat from next month onwards. The newly launched engine is called as "Smartech Engine." While addressing media persons, President and Managing Director of GM India Karl Slym, revealed that the engine was designed by a team of Indian engineers considering the nature of roads, environment and habits of the drivers of the country.

Dell launches its android streak tablet

Technology giant Dell launched its much-awaited android tablet, the Streak in Bangalore on Tuesday. According to Mahesh Bhalla, Executive Director and General Manager - Consumer, of Dell India, this new 5-inch gizmo may look like a smartphone, but it actually is a hybrid between larger tablets and a mobile phone. Powered by Qualcomm's Snapdragon 8250 processor, it enables the user to easily download music, besides engaging in social networking, e-mail, video, and voice calls among others.

IT sector cheers rejection of outsourcing bill

The rejection of the Outsourcing Bill in the US Senate on September 28, that would have stopped tax concessions to American companies that resorted to outsourcing of their jobs, has brought cheer to the Indian IT sector. The failure to get the anti-outsourcing bill the 60 votes in the Senate is obviously good news for India's IT industry, which exports services worth $50 billion and the US alone accounts for 60 per cent of that.

Bharti seals Zain deal

Sunil Mittal, Chairman-cum-Managing Director of Bharti Enterprises disclosed at New Delhi on Tuesday that Bharti Airtel Limited, has become the world's fifth largest mobile phone services provider. This notable mark was achieved after it acquired the African assets of Kuwait-based Zain enterprises. The deal enables Bharti Airtel to extend its services in 15 countries across the African continent. With this, the company has emerged as a truly global venture, covering nearly 1.8 billion people in 18 countries of Asia and Africa under its wireless operations.

AI strike ends but no respite for passengers yet

Even as the Air India strike was called off on Wednesday evening, Air travellers are still bearing the brunt of the strike. Passengers are still stranded at airports, as the airline needs at least three more days to clear the backlog. In Mumbai, airline passengers were diverted to trains specially arranged to help the national carrier on Wednesday. In New Delhi, while the airline is slowly returning to normalcy, 25 flights were further cancelled on Thursday, causing more problems for passengers.

Realty sector revives after slowdown

The Indian realty sector bounces back after a slump in 2008, as demand for residential and commercial properties grows. The trend is more evident in Tier I and Tier II cities across the country, as these are high-demand markets. It is being claimed that prices and sales are to be back to the pre-crisis levels with improved economy and buying power of the people. It is also estimated that two million houses would be needed in India by 2011, which come out to be a potential market of $66 million.

GAIL Q4 profit increases 45%

Gas Authority of India Limited, Gail India Ltd., largest gas transmission and marketing company in India, on Monday reported a 45 percent rise in quarterly net profit. B C Tripathi, Chairman and Managing Director of GAIL, said the company aims to spend 80 billion rupees in the current fiscal year, the bulk of it on expanding its pipeline network.

Ford Figo takes on India

Ford India launched its much-awaited compact car, Figo, at Taj Hotel in the national capital New Delhi, on Tuesday. The car was launched in both diesel and petrol versions. Priced at Rs 3, 49,000, the diesel version has a 1.4-litre engine, while the petrol version worth 4 lakh 42 thousand rupee has a 1.2-litre engine. The company claimed that the car would give a mileage of 15.6 kilometres and 20 kilometres a litre in the petrol and diesel versions, respectively.

Nissan 370Z goes for an all India spin

After the launch of its iconic sports car the 370Z last month, Nissan is promoting the car across India through a tour in which the car will be showcased at dealerships and malls across 10 cities in the country. The first leg of the tour, Gran Tour De Nissan 370Z was flagged off from Mumbai on Tuesday by Abhijit Pandit, Vice President of Operations, Hover Automotive India Limited, Nissan's strategic alliance partners for Sales and Marketing in India.

BMW launches Gran Turismo

The German luxury carmaker is expanding its business in the Indian market eyeing a double-digit increase in sales this year. The company launched a limited edition of BMW Gran Turismo, priced at Rs 63 lakh on Wednesday. The limited edition of the Gran Turismo comes with a 3.01 litres diesel engine and only 100 units of the car will be available. It will be brought as a completely built unit (CBU) from the company's plants overseas.

Fiat to produce more small cars

While launching various versions of Linea, 500 and Punto, Rajeev Kapoor, fiat India president and CEO said on Wednesday that his company would soon produce more small cars for India. Meanwhile, Thomas Matussek, German Ambassador who was present at the German spare part stall said that India is a potential market for Germany.

Volkswagen eyes 10% Indian market in 4-6 yrs

Volkswagen AG, which recently took a stake in Suzuki Motor Corp to step up its presence in India, said on Saturday that it aims to grab 8-10 percent of the country's market share in the next 4-6 years. Meanwhile, Heizmann said that Volkswagen is looking at various opportunities for synergies with Suzuki. He added the firm could consider bringing to India the cheapest car on its table, up, which is priced at about $8,800.

Bajaj-Renault-Nissan low-cost car by 2012

After months of delays following differences over their ultra low-cost car's branding, concept and pricing, joint venture partners Bajaj Auto, Renault and Nissan on Tuesday signed an agreement formalizing roll-out plans for 2012¿a year behind schedule.

Air India unveils revival programmes

Arvind Jadhav, Chairman-and-Managing Director of Air India at New Delhi on Friday said that Air India has chalked out a package with numerous revival programmes that would see the airline return to profitability over the next 24 to 36 months. Air India has also planned to restructure existing debt and fleet rationalization particularly matching capacity with the availability of demand.

BEML proposes low-cost metro coaches

Government owned Bharat Earth Movers Limited will manufacture indigenously designed low-cost metro railway coaches for mass rapid transport systems in Indian cities, said V R S Natarajan, Chairman and Managing Director of BEML in Bangalore on Thursday. Each rake is estimated to cost rupees six crores.

Diamond industry expects sops

The Indian diamond cutting industry, one of the badly hit sectors due to the global recession, is keeping the fingers crossed for some sops to be declared by the Indian government in the ensuing budget to be presented on July 6. The Surat diamond industry that accounts for more than half of the total diamond exports from India employs more than 700,000 workers from across the country.

Tata Steel F Y09 net drops 60%

India's Tata Steel Ltd, on Thursday missed forecasts with a 60 percent drop in consolidated net profit for the fiscal year ended March and said 2,045 jobs in Europe units were at risk. It said its Anglo-Dutch Corus Unit was starting consultations on job cuts due to the continued deterioration in market conditions and falling demand.

"Super car club" in India

A mere glimpse of a well-designed and exotic car can "bring smile on the face of the viewer". With these words as its inspiration, luxury sedan enthusiasts launched a 'Super Car Club of India' in India's financial capital Mumbai on Sunday. Now people can watch some of the hot and fastest machines of the world like Ferrari, Audi, BMW, Lamborghini and Porsche under one roof.