Page 83 - Companies

Hayabusa in India

Japanese two-wheeler giant Suzuki on Wednesday launched its popular super bike Hayabusa along with another sports bike Intruder M1800R in a glittering unveiling ceremony in New Delhi. Both Hayabusa and Intruder have a price tag of 12.5 million rupees. The company is eyeing young and young at heart bike enthusiasts with enough money in purse to purchase the bike.

Indian industry can sail through: India Inc

With the signs of global reversionary trends setting in, Indian Inc says that while they are worried about the global meltdown, they are also confident that the Indian industry can sail through. At a three-day 'Indian Economic Summit' organised by the Geneva-based World Economic Forum in collaboration with Confederation of Indian Industry in New Delhi, captains of the Indian industry huddled to debate out issues related to the global downturn on Sunday.

Currency to impact Q3 revenue: Gopalakrishnan

Infosys Technologies, India's No. 2 software services exporter, will see an adverse impact on its December quarter revenue from the rise of the dollar against other currencies, its chief executive said on Monday. Last month, Infosys, which develops applications, designs supply chains and offers back-office services, said its revenue in the quarter ending on Dec. 31 would rise by 8.4-12.6 percent to $1.18-$1.22 billion under the international accounting standards.

Biotech industry expects growth

The biotechnology industry of India seems undaunted by the global meltdown and is confident of excellent augmentation in the coming years. Experts feel that the industry, which currently holds only two percent shares of the global market, has the potential to grow and emerge as global player in coming years. Experts expect the industry to cross the five billion dollar mark by 2010, through its products and services.

Indian Billionare Club

As the recession hit the world market, the most affected happen to be the richest people in the world. The global recession meltdown has toppled the ¿ Rich list¿ knocking off quite a few. According to the latest Forbes annual rich list for country, Mukesh Ambani has replaced steel tycoon Lakshmi Niwas Mittal as the richest Indian in the world.

Wipro's quarterly net below forecast

Wipro Ltd, India's third-biggest software services exporter, missed estimates with a 1.2 percent rise in quarterly net profit on Wednesday, joining their rivals in giving a muted forecast due to deteriorating global economic conditions. The company forecast its IT services revenue this quarter would rise to $1.12 billion, barely ahead of its July-September revenue of $1.11 billion.

Vijay Mallya hints at more job cuts

Kingfisher Airlines head Vijay Mallya indicated on Monday that if the slump in the market continues, more job cuts and lay-offs may take place in the aviation industry. He, however, refused to say whether he had met any ministers or government officials over the crisis in the aviation sector. Mallya who also has major stakes in liquor business, said he did not have any complaints over the government's response to the demands of the airline industry.

Jet Airways reinstates sacked employees

Jet Airways has reinstated 800 sacked flight attendants.Jet Airways Chairman Naresh Goyal announced in Mumbai on Thursday that all sacked workers were being reinstated. He said that decision was taken without any pressure from anybody. The news brought cheers to the employees who had undergone agony after being sacked. Civil Aviation Minister lauded Jet's decision and expressed satisfaction in the manner the issue was resolved amiably.

Jet Airways to cut 1,100 more jobs

India's top private carrier Jet Airways has decided to lay off 1,100 additional employees in the next few days, a top official said on Wednesday even as a right-wing Hindu group raised slogans and clashed with policemen outside the airlines' office in Mumbai. Earlier in the day, Jet said it has retrenched 800 flight attendants and suspended its expansion programme, adding that it will also cut flights because of a slowdown in demand.

Kingfisher, Jet Airways announce alliance

Jet Airways Ltd, India's top private carrier, and Kingfisher Airlines on Monday tied up to cut costs and offset high fuel prices and softer demand. Indian carriers are trimming capacity and deferring new plane inductions as growth in passenger traffic in the first six months of 2008 slowed to 7.5 percent from 33 percent a year earlier, according to the International Air Transport Association.

Modi's Gujarat bags Tata's Nano

India¿s top vehicle maker Tata Motors Limited on Tuesday signed an agreement with Gujarat to manufacture the ultra low-cost Nano car there, days after pulling out of West Bengal. Chief Minister of Gujarat, Narendra Modi termed the agreement as a new chapter in partnership. Tata Motors, which had planned to launch the Nano around October, will in the meantime explore the option of making it at existing units in Pune and Pantnagar.

TCS to buy Citigroup Global Services for $505mn

Tata Consultancy Services (TCS) signed an agreement with Citigroup Inc to acquire its captive BPO-Citigroup Global Services (CGSL) for $505 million (around Rs 2,424 crore) in an all-cash transaction. In addition to the sale, Citi has signed an agreement with TCS to provide, through CGSL, process outsourcing services to Citi and its affiliates in an aggregate amount of $2.5 billion over a period of 9.5 years.

Tatas pull out Nano project from Singur

Tata group chairman Ratan Tata on Friday finally decided to pull out their Nano car plant from Singur in West Bengal because of continuing political opposition to it. Ratan Tata met the west Bengal Chief Minister Buddhadeb Bhattacharya, but the meeting failed to convince Tata to stay on. While addressing the media, Tata said that Nano will come out as per the committed time and company is exploring offers from three-four states about the new site of the project.

Air fares to rise again

Get ready for another round of air fare hike this festive season. Jet Airways on Wednesday said it's looking at raising fares by a single digit percentage point in coming days. Other airlines are also likely to follow suit. This year has already witnessed seven fare hikes, thanks to rise in oil prices since April. Jet Airways estimates that Indian aviation industry still has 20% over capacity and that fare need to go up.

Nano set to roll out in three variants

Keeping aside all the controversies of Singur, world¿s cheapest car, Tata Nano is all set to roll out next month in three petrol variants, standard, deluxe and luxury. According to industry sources, the diesel Nano which will be launched next year will also have three variants. The top-end luxury variant will have a range of features like power window, central locking, tinted glasses, extended reflector, front and rear fog lamps and instrument cluster with trip metre.

Kingfisher to cut 300 jobs

In an effort to tide over rough weather that has gripped the aviation industry, Vijay Mallya promoted Kingfisher Airlines has cut 300 jobs, besides returning surplus aircraft. The carrier has already returned two aircrafts and is closely monitoring aircraft utilization.

RIL to account for 40% of India's energy output

Reliance Industries will account for about 40 per cent of the country?s energy production in the next 18 to 24 months, putting the company on track to earn a quarter of its profit from oil and gas production, from 5 per cent now.

High Prices Hamper IPhone Sales

The celebration of iPhone 3G being launched in India has been short-lived. The much hyped iPhone has not met the expectations of either Bharti Airtel or Vodafone Essar. There¿s a simple reason that most people in India who have iPhones are sticking with an ¿unlocked¿ first-generation model bought from a U.S. source instead of one obtained for a higher price from Vodafone or Airtel, which started offering the 3G version in India on August 22.

Infosys to 'rethink' on investments in WB

India's IT major, Infosys Technologies, reiterated its stand on Thursday that it would 'rethink and re-look' into its investment plans at Singur in West Bengal. Infosys, the second largest software development company in the country looks skeptical about its maiden investments in the region following protests in Singur. He added that the company appreciates the support and cooperation of the government.

Two-wheelers overtakes car sales

Domestic car sales continued to go downhill for the second consecutive month in almost three years with August sales declining by 4.36 per cent. Meanwhile motorcycles cruised with 15.9 per cent growth. According to the figures released by the Society of Indian Automobile Manufacturers, domestic passenger car sales in August stood at 94,584 units as against 98,893 units in the same month in 2007.