Archive for the 'Business' Category Page 3 of 7



GAIL board okays Dabhol-Bangalore pipeline

The board of GAIL (India) today gave in-principle approval for laying of the Rs 2,500 crore Dabhol-Bangalore gas pipeline.

The 730 kilometre pipeline, which will be designed to carry 16 million cubic metres per day (mcmd) of gas, is expected to be completed by 2011-12, a statement from the company said.

The final board approval will be given after the project is appraised, customers identified and design parameters frozen.

The pipeline will connect the LNG Terminal of Ratnagiri Gas and Power Private (RGPPL) at Dabhol in Maharashtra to Bangalore. It will pass through Ratnagiri and Kolhapur districts of Maharashtra and Belgaum, Dharwad, Haveri, Davangere, Chitradurga, Tumkur and Bangalore districts of Karnataka.

“With this pipeline, natural gas from the Ratnagiri LNG Terminal can be supplied to industrial clusters in the state of Maharashtra and Karnataka,” the statement added. Source:business-standard.com



The world's cheapest car gets a pop star welcome

For the world’s cheapest car, it was one luxury arrival.

The world's cheapest car gets a pop star welcome

More than 1,000 people — journalists, VIPS and industrialists — packed an auditorium on Thursday as Tata Motors Ltd unveiled its long-awaited “People’s Car” in a media circus more worthy of a pop concert or an Oscar ceremony.

For those wanting to feel India’s economic self-confidence as it takes on the world, all they had to do was to experience the blaring music from “2001: A Space Odyssey” and the flashes of scores of cameras as the Tata Nano was driven out.

It condensed years of anticipation into one moment of mayhem.

“I haven’t seen this many cameras in my six years in South Asia,” said one veteran journalist. “You couldn’t even buy advertising like this.”

Ahead of the launch, major news channels devoted several minutes of airtime to live footage of a dark and empty stage where the car, a hatchback that is priced at about half the cost of the current cheapest car, would be unveiled.

“A promise is a promise,” Chairman Ratan Tata said, as he announced a dealer price of 100,000 rupees ($2,500) as pledged five years ago, even though commodity prices have gone up and despite rivals’ claims such a knock-down price was impossible.

For its supporters, it will revolutionise ownership in India, by allowing millions of the aspiring middle classes to own a car, and send a shock through the auto world with its cheaper engineering that will be copied across the globe.

For its detractors, it will provoke a nightmare on India’s already clogged roads and worsen choking pollution levels.

“CUTE” FIRST IMPRESSION

As Tata reeled off the car’s specifications and compared it to innovations such as the first man on the moon, people in the crowd, including many Indian journalists, clapped and cheered.

A hologram appeared of a husband, his wife and kid balanced unsafely on a scooter — a common sight in India. It faded to make way for an image of the Nano hovering above the stage.

Then came the rush as hundreds of journalists pressed around the car. A ring of Tata guards surrounded the Nano, begging cameramen not to scratch its new paint.

Then came the public.

“It looks kind of cute,” said Urvashi Sitani, a businesswoman who took pictures with her mobile phone. “I’d guess it proves popular with the younger crowd. But it’s a girlish car. I can’t imagine a man would be seen in a car like this.”

Thousands of people pressed around the car.

“It seems like a real car. The windows actually wind down,” said a smiling Gilles Levassor, who works for French carmaker Renault.

A few metres away, women protesting that farmers had been made landless because of Tata’s car factory plans, stood by.

“It’s subsidised by farmers’ blood,” said Anuradha Talwar.

Outside the auditorium, a contingent of Greenpeace activists stood with banners bearing slogans such as: “CUT CO2 emissions”.

But they were largely ignored by the swelling crowds.

On this day, the side of India that sees itself an upcoming economic superpower was apparently looking the other way. Source: Reuters.com



Tata Motors launches Sumo Grande, new Indigo

In addition to the much-talked about one-lakh car, Tata Motors has drawn up an aggressive new vehicle launch calendar for the current year.

Even as it primes itself for the roll-out of its ultra low cost super mini, the company will be launching a range of new vehicles, including a compact version of its Indigo sedan later this month, an upgraded version of its sports utility vehicle Sumo next month and the next generation of the Indica hatchback in the second half of this year.

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“The new Indigo CS has the same engine space of the existing Indigo allowing the benefits of hatchback and a sedan,” said Mr Rajiv Dube, President, Passenger Cars, Tata Motors. He said that while the car is less than 4,000 mm in length, and though it will qualify for the size-based lower excise duty, it was not designed keeping the tariff benefits in mind, since the development process was started much earlier.

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Tata Motors also launched the Sumo Grande, the new version of the Sumo utility vehicle that has been redesigned to combine the look and feel of a utility vehicle and a family car. The new Sumo Grande will feature the new generation 2.2 litre Dicor engine and is being priced at Rs 6.55 lakh to Rs 7.49 lakh, ex showroom Delhi for the two variants.

Tata Motors also unveiled the new generation Indica at the Auto Expo today. The new generation Indica has been given a complete makeover to coincide with the 10th anniversary of the car’s original launch. The new generation Indica is bigger and better equipped than its predecessor and it also features a completely new interior layout.

The new Indica, when launched later this year, will be equipped with a new 1.3 litre Quadra-jet common rail diesel engine and 1.2 litre Safire MPFI VVT petrol engine, both of which will be manufactured at the new Tata-Fiat joint venture plant at Ranjangaon. Tata Motors said that it would not replace the existing Indica and that the new generation version will be offered side-by-side with the current version, only at a higher price.

Refreshing the current Indica V2, Tata Motors today announced that the car is now being offered with the Dicor engine. The company will be offering the new Indica V2 Dicor at around Rs 25,000 higher than the existing model.

The company sells an average of 3,500 units of the Sumo and Safari and around 3,000 units of Indica and Indigo every month. Source: thehindubusinessline.com

Spice launches SMS service in 12 Indian languages

Spice launches SMS service in 12 Indian languages

Spice Telecom, Karnataka’s oldest cellular provider, on Thursday announced the launch of `Spice Local Lingo’, a messaging service that enables a consumer to send and receive SMSs in 12 Indian langauges.

The new offering was launched by the Spice’s Brand ambassador and leading Bollywood star, Priyanka Chopra.

The service can be downloaded on all Java-enabled phones and allows a user to choose from 12 Indian languages, Kannada, Hindi, Oriya, Punjabi, Tamil, Telugu, Malayalam, Marathi, Assamese, Gujarati, Bengali and Urdu, Rakesh Singh, COO, Spice Karnataka told reporters today.

“A subscriber could with a GPRS connection could downlaod it from the spice portal http://wap.spicetele.com or can SMS the key word `SLL’ to 56199 “, he said.

The language service can be enabled by using the language specific soft keypad that would be installed once the software is downloaded.Using the message edit box the user could compose the message and sent it as a normal text SMS.

He can also use the picture SMS in case the person the message has been sent to does not have the special ‘langugage facility on their mobile phone.

The charges for the service is a one time download charge of Rs 20 per language plus a monthly subsrciption cost of Rs five per language. As an inaugural offer, SMS charges in Spice Local Lingo will cost 50 paise.

The service is powered by Geneva Software Technologies. “The new offering was targetted at mass consumers keen in sending SMS in their own lingo and at those who were not comfortable with English”, he said. Source: economictimes

Brigade Enterprises Ltd IPO over-subscribed nearly 13 times

Brigade Enterprises Ltd IPO over-subscribed nearly 13 times

The initial public offering of real estate firm Brigade Enterprises Ltd today got over-subscribed by nearly 13 times.

The issue received bids for 21.40 crore shares against 1.66 crore shares on offer.

The price band of the issue has been fixed between Rs 351 and Rs 390. The issue, which opened on December 10, would close today.

The Bangalore-based firm had announced that it would set up shopping mall and a three star hotel at Chennai. The proceeds from the issue would be utilised to fund the setting up of mall.

The hotel would come up near the Tidel park here and the mall would come at Rajiv Gandhi Road, the IT corridor in the city. Source: economictimes

Mahindra & Mahindra launches new Scorpio V-series in Bangalore

Mahindra & Mahindra on Tuesday launched a new line-up of its Sports Utility Vehicle (SUV) Scorpio V-series.

The new Scorpio VLX is equipped with the mHawk engine and an array of features, M&M’s Vice-President-Marketing and Sales (Automotive Sector) Vivek Nayer told a press conference.

The new VLX is priced at Rs 9.57 lakh ( ex-showroom Bangalore).

The high power density mHawk engine and updated transmission allows the vehicle to go from zero to 60 kmph in 5.7 seconds with greater agility.

The use of a second generation common rail system, recyclable plastics and aluminium head result in lower weight and better fuel efficiency, he said.