14-02-2011

                                                                   

RIL plays volume card for cheaper tower rent

Reliance Industries subsidiary Infotel Broadband has told telecom tower companies that it will pay only half the prevailing rental for towers taken on lease. Infotel has told the tower companies that it will pay only Rs 16,000-18,000 a tower every month as rent. Sources said Infotel is playing a volume card. Its initial requirement is 26,000 towers, but will step that up to 60,000. (Economic Times)

Bajaj Auto will focus on bikes, not scooters

Bajaj Auto want to re-enter the scooter segment considering the revival of market, but at the moment the company will focus only on bikes. In December 2009, the company had announced that it would stop making scooters by end of 2009-10 fiscal, thus bringing down the curtains on 'Hamara Bajaj', which revolutionised the two-wheeler market in the country. (Economic Times)

CIL eyes buying another US-based firm's coal assets

Coal India is eyeing the West Virginian assets of another American company. CIL has earmarked Rs 6,000 crore to fuel its inorganic growth overseas over the next 2-3 years in order to expand its coal base and meet burgeoning demand at home. Due diligence is on to buy up to a 15% stake in the Australian assets of US-based Peabody Energy. (Business Standard)

HDFC Bank to ride growth opportunities in emerging "Bharat

HDFC Bank aims to ride the growth opportunities thrown up by the increasing affluence of "Bharat" (rural India) and expects to grow higher-than-industry over the next few years. The bank will also focus on organic growth, having completed the acquisition of CBoP a couple of years ago which has given it a strong footprint pan-India. (Economic Times)

Dabur's 'Oxylife' to tap professional beauty care Market

Dabur has developed products to cater to the segment as it looks to take on the likes of French cosmetic giant L'Oreal and Lakme. The company, which has only been selling its products through retail outlets, has introduced its new skincare range 'Oxylife' to tap beauty parlours and salons. It has made the range available to 26,000 beauty parlours across the country since the beginning of this month. (Business Standard)

Tata Motors to spend £1 billion on JLR R&D

Tata Motors will spend about £1 billion on JLR towards research and product development expenses this year. This is about 10-11% of the two brands' annual revenue. R&D expenditure is shortly expected to reach an annual £1.2 billion per year. (Source: Rediff)

Indian Overseas Bank looks for opening in Africa

IOB is eyeing entry into Africa and convert its representative offices in Guangzhou, China, and Dubai to full service branches. The bank would seek regulatory approval from the regulator concerned for the same. The Bank has six full-fledged overseas branches along with two remittance centre in Singapore at Boon Lay and Serangoon. (Source: Economic Times)

Mahindra Satyam Q3 net up two-fold to Rs 59 cr

Mahindra Satyam reported two-fold sequential jump in consolidated net profit for the quarter ended December 31, 2010, to Rs 58.9 crore. The company had reported a consolidated net profit of Rs 23.3 crore for July-September quarter of 2010. (Source: Business Standard)

Firstsource to focus on Organic growth

Firstsource Solutions plans to focus on organic growth and expand its existing platforms, with acquisitions not a priority for the moment. The firm operates in four verticals-healthcare, financial services, telecom and an Asia Business Unit. (Source: Economic Times)