Infosys FY09 EPS seen at Rs 94 and anything above Rs 90 is good.
Tata Motors gained on Thursday on reports that the company plans to expand its business in Africa by setting up assembly facilities, mainly for commercial vehicles. At 12.15 pm, the stock was up Rs 6.50 or 1 per cent to Rs 638.25 on the NSE.
SEL Manufacturing Company Ltd has informed the BSE that the board has approved the expansion project for setting up of largest technical textile manufacturing facility with an overall investment of Rs 611.67 crore to be located at Nawanshehar.
Country's second largest private shipping firm by fleet size Mercator Lines has lined up an investment of Rs 4,000 crore to buy dredgers and dry bulk cargo carriers, a top company official said.
Max New Life Insurance in partnership with Symbiosis Institute of Business Management announced the launch of a Post Graduate Diploma in Business Management with specialization in Life Insurance.
Asian and European stocks edged lower after Washington Mutual Inc, the largest US savings and loan firm, said on Tuesday, 8 April 2008, it expected a large quarterly loss and minutes from the Federal Reserve's latest meeting showed some of the central bankers saw the possibility of a prolonged and severe US economic downturn.
BCCI-backed Indian Premier League claims it will give serious competition to the 'Saas Bahu' sops on television as a "sizeable number of women" have shown "tremendous interest" in the shorter format of the game.
Financial Technologies India Ltd has informed the BSE that it has acquired 90 per cent stake in ICX Platform (Pty) Ltd, a technology firm situated at Johannesburg.
BHEL BAGS EXPORT ORDER WORTH $500MN - NDTV PROFIT
Thursday, April 10, 2008
Areva sees robust growth, plans to increase headcount
Power transmission and distribution major Areva India will hire more people in the near future as the company expects its business in the country to grow significantly.
The Indian unit of the French nuclear giant, which gets almost 60% of its revenue from transmission, employs around 3,500 people in India and plans to take this up to 4,000 by 2010, managing director Rathin Basu said at a conference on Tuesday. The French parent owns 72% in Areva India and the rest is held by the public.
This recruitment would be to support the Rs 700 crore that Areva India is investing through capacity expansion programmes at Baroda, Hosur and Chennai.
Mr Basu was speaking at a conference that was also attended by Areva’s executive committee member and T&D chairman Philippe Guillemot. India is one of the fastest growing markets for the French major, Mr Guillemot said, adding that China and Russia are the other growth areas. “Strong demand (in T&D) is due to modernisation of grids and interconnectivity and due to new generation capacities,” the T&D global chief said.
Apart from offering transmission and distribution services, Areva T&D India also makes power equipment. Mr Basu also said that Areva India expects to double its revenue in the next two years. Areva India, which follows the calendar year, posted revenue of Rs 2,006 crore last year.
Large orders are expected from the high voltage gas-insulated switchgear segment, where it already has orders worth Rs 170 crore. This segment is popular in areas such as Mumbai where land is at a premium, as the GIS saves on space.
Shares of Areva India rose 1.5% to Rs 1,425 on BSE on Wednesday.
Power transmission and distribution major Areva India will hire more people in the near future as the company expects its business in the country to grow significantly.
The Indian unit of the French nuclear giant, which gets almost 60% of its revenue from transmission, employs around 3,500 people in India and plans to take this up to 4,000 by 2010, managing director Rathin Basu said at a conference on Tuesday. The French parent owns 72% in Areva India and the rest is held by the public.
This recruitment would be to support the Rs 700 crore that Areva India is investing through capacity expansion programmes at Baroda, Hosur and Chennai.
Mr Basu was speaking at a conference that was also attended by Areva’s executive committee member and T&D chairman Philippe Guillemot. India is one of the fastest growing markets for the French major, Mr Guillemot said, adding that China and Russia are the other growth areas. “Strong demand (in T&D) is due to modernisation of grids and interconnectivity and due to new generation capacities,” the T&D global chief said.
Apart from offering transmission and distribution services, Areva T&D India also makes power equipment. Mr Basu also said that Areva India expects to double its revenue in the next two years. Areva India, which follows the calendar year, posted revenue of Rs 2,006 crore last year.
Large orders are expected from the high voltage gas-insulated switchgear segment, where it already has orders worth Rs 170 crore. This segment is popular in areas such as Mumbai where land is at a premium, as the GIS saves on space.
Shares of Areva India rose 1.5% to Rs 1,425 on BSE on Wednesday.
Toyota and GM recall 662,000 cars in U.S.
Toyota Motor Corp and General Motors Corp are recalling more than 662,000 vehicles sold in the United States due to defects in power windows, the two companies said on Wednesday.
Toyota will recall 539,500 Corolla and Matrix vehicles for the 2003 and 2004 model years, it said in a statement.
GM said it would recall 122,598 Pontiac Vibe hatchbacks, which share the same platform with Toyota's Matrix and are built by GM in a joint venture with the Japanese automaker.
On vehicles equipped with power windows, the driver and front passenger glass bolts may loosen and cause the door glass to separate from the window regulator, Toyota said. Vehicles equipped with manual windows are not subject to the recall.
Toyota will notify vehicle owners by mail, beginning in late April. It advised owners to contact their local Toyota dealer for inspection and repairs.
Replacement of the driver and front passenger door glass bolts will be done at no charge, Toyota said.
Toyota will recall 539,500 Corolla and Matrix vehicles for the 2003 and 2004 model years, it said in a statement.
GM said it would recall 122,598 Pontiac Vibe hatchbacks, which share the same platform with Toyota's Matrix and are built by GM in a joint venture with the Japanese automaker.
On vehicles equipped with power windows, the driver and front passenger glass bolts may loosen and cause the door glass to separate from the window regulator, Toyota said. Vehicles equipped with manual windows are not subject to the recall.
Toyota will notify vehicle owners by mail, beginning in late April. It advised owners to contact their local Toyota dealer for inspection and repairs.
Replacement of the driver and front passenger door glass bolts will be done at no charge, Toyota said.
Wine makers now prefer aluminium caps over corks
Uncorking the bubbly, the iconic symbol of hi-society celebration honed into a ritual over the decades, is turning into an unintended victim, thanks to the wine industry’s quest for technology upgradation.
A number of winemakers, including global players like Moet & Chandon and Fosters Group, are showing a marked preference for aluminium crown caps over the good-old wine cork. As a result, the pomp associated with opening a bottle of wine could vanish over a period of time and your wine opener could become a museum piece.
More importantly, storage of wine is becoming simpler as the need for laying bottles horizontally would cease to exist. Wine bottles with aluminium crown caps can be stored vertically, as there is no danger of the cork drying out, making the process of opening the bottle clumsy.
Wine in tetra packs and cans may not be ideas whose time has come, but the aluminium crown is gaining increasing acceptance. This could be good news for booming consumer markets like India, where new customers are not accustomed to storage and uncorking techniques.
The change, industry players say, is being driven by supermarkets which do not want to be saddled with wine bottles being returned by customers due to a faulty cork or difficulties in uncorking it. Aluminium crown caps, they say, are 100% reliable, as the chances of a cork going bad are far higher.
“There is a growing preference for aluminium crown caps. They are easy to open and storage is easier,” said Mr Owen Malone, a director with the Foster’s Group which produces significant quantities of wine, though the brand is known for its popular beer.
The shift to aluminium crown caps is catching up more rapidly in countries like Australia, New Zealand, South Africa, Chile and Argentina, the new age wine producers. Traditional players in Europe are also shifting, albeit at a slower pace.
Stephen Webber, chief winemarker at De Bortoli Wines near Melbourne, is philosophical about the switchover to aluminium crown caps and considers the issue settled. That the aluminium will not interfere with the taste of flavour of the wine is a factor that gives him comfort in aiming for premium quality products that seek to showcase the quality of grapes into fine wine.
Cameron Murphy, business development manager for the Asia-Pacific region at Domaine Chandon, feels that the aluminium crown and cork would co-exist. The Australian winery of Moet & Chandon uses both cork as well as aluminium crowns. “Corks cannot be 100% perfect. Therefore, the innovation,” he added.
Industry representatives are of the view that special editions of aged premium wine would still continue to use corks while the staple varieties would be quick to switch over. The use of aluminium crowns is more prominent now in the case of sparkling wine but other categories are also catching up, they say.
Another factor encouraging phaseout of corks is the smart expansion of the wine market in countries where growing prosperity is resulting in consumers switching over to wine from hard liquor. The hassle-free aluminium crown is also ‘cool’ for new generation consumers with an attitude, it is felt.
A number of winemakers, including global players like Moet & Chandon and Fosters Group, are showing a marked preference for aluminium crown caps over the good-old wine cork. As a result, the pomp associated with opening a bottle of wine could vanish over a period of time and your wine opener could become a museum piece.
More importantly, storage of wine is becoming simpler as the need for laying bottles horizontally would cease to exist. Wine bottles with aluminium crown caps can be stored vertically, as there is no danger of the cork drying out, making the process of opening the bottle clumsy.
Wine in tetra packs and cans may not be ideas whose time has come, but the aluminium crown is gaining increasing acceptance. This could be good news for booming consumer markets like India, where new customers are not accustomed to storage and uncorking techniques.
The change, industry players say, is being driven by supermarkets which do not want to be saddled with wine bottles being returned by customers due to a faulty cork or difficulties in uncorking it. Aluminium crown caps, they say, are 100% reliable, as the chances of a cork going bad are far higher.
“There is a growing preference for aluminium crown caps. They are easy to open and storage is easier,” said Mr Owen Malone, a director with the Foster’s Group which produces significant quantities of wine, though the brand is known for its popular beer.
The shift to aluminium crown caps is catching up more rapidly in countries like Australia, New Zealand, South Africa, Chile and Argentina, the new age wine producers. Traditional players in Europe are also shifting, albeit at a slower pace.
Stephen Webber, chief winemarker at De Bortoli Wines near Melbourne, is philosophical about the switchover to aluminium crown caps and considers the issue settled. That the aluminium will not interfere with the taste of flavour of the wine is a factor that gives him comfort in aiming for premium quality products that seek to showcase the quality of grapes into fine wine.
Cameron Murphy, business development manager for the Asia-Pacific region at Domaine Chandon, feels that the aluminium crown and cork would co-exist. The Australian winery of Moet & Chandon uses both cork as well as aluminium crowns. “Corks cannot be 100% perfect. Therefore, the innovation,” he added.
Industry representatives are of the view that special editions of aged premium wine would still continue to use corks while the staple varieties would be quick to switch over. The use of aluminium crowns is more prominent now in the case of sparkling wine but other categories are also catching up, they say.
Another factor encouraging phaseout of corks is the smart expansion of the wine market in countries where growing prosperity is resulting in consumers switching over to wine from hard liquor. The hassle-free aluminium crown is also ‘cool’ for new generation consumers with an attitude, it is felt.
Wine makers now prefer aluminium caps over corks
Uncorking the bubbly, the iconic symbol of hi-society celebration honed into a ritual over the decades, is turning into an unintended victim, thanks to the wine industry’s quest for technology upgradation.
A number of winemakers, including global players like Moet & Chandon and Fosters Group, are showing a marked preference for aluminium crown caps over the good-old wine cork. As a result, the pomp associated with opening a bottle of wine could vanish over a period of time and your wine opener could become a museum piece.
More importantly, storage of wine is becoming simpler as the need for laying bottles horizontally would cease to exist. Wine bottles with aluminium crown caps can be stored vertically, as there is no danger of the cork drying out, making the process of opening the bottle clumsy.
Wine in tetra packs and cans may not be ideas whose time has come, but the aluminium crown is gaining increasing acceptance. This could be good news for booming consumer markets like India, where new customers are not accustomed to storage and uncorking techniques.
The change, industry players say, is being driven by supermarkets which do not want to be saddled with wine bottles being returned by customers due to a faulty cork or difficulties in uncorking it. Aluminium crown caps, they say, are 100% reliable, as the chances of a cork going bad are far higher.
A number of winemakers, including global players like Moet & Chandon and Fosters Group, are showing a marked preference for aluminium crown caps over the good-old wine cork. As a result, the pomp associated with opening a bottle of wine could vanish over a period of time and your wine opener could become a museum piece.
More importantly, storage of wine is becoming simpler as the need for laying bottles horizontally would cease to exist. Wine bottles with aluminium crown caps can be stored vertically, as there is no danger of the cork drying out, making the process of opening the bottle clumsy.
Wine in tetra packs and cans may not be ideas whose time has come, but the aluminium crown is gaining increasing acceptance. This could be good news for booming consumer markets like India, where new customers are not accustomed to storage and uncorking techniques.
The change, industry players say, is being driven by supermarkets which do not want to be saddled with wine bottles being returned by customers due to a faulty cork or difficulties in uncorking it. Aluminium crown caps, they say, are 100% reliable, as the chances of a cork going bad are far higher.
Chidambaram to inaugurate British branch of IIFC
Finance Minister Palaniappam Chidambaram is to inaugurate the operations of a government lending agency in Britain Thursday as part of plans to raise capital for Indian infrastructure projects.
India Infrastructure Finance Company (UK) Ltd., an offshore subsidiary of IIFCL, was set up Feb 7 and Chidambaram informed the parliament of its formation in his budget speech later that month.
The aim of the company is to borrow funds from the Reserve Bank of India (RBI) from its forex reserves and lend in foreign currency to Indian companies implementing infrastructure projects in India.
According to Planning Commission projections, the Indian infrastructure sector will need funds of around $492 billion over the next five years, rising to $1.48 trillion in the next five years.
The company will help Indian companies import capital goods in sectors such as power, airports, ports and roads, limiting lending to capital expenditure outside India.
"The financial assistance from the new company is expected to shore-up funds availability for the infrastructure sector and pave the way for creation of world-class infrastructure in India," the government said in a statement.
Since its creation in January 2006, IIFCL, a wholly owned government enterprise, has approved 78 infrastructure projects with a loan commitment of over $4.25 billion. These projects involve an aggregate project cost of over $32 billion.
IIFCL provides debt of long-term maturity of over 10 years to the public sector and public private partnerships.
India Infrastructure Finance Company (UK) Ltd., an offshore subsidiary of IIFCL, was set up Feb 7 and Chidambaram informed the parliament of its formation in his budget speech later that month.
The aim of the company is to borrow funds from the Reserve Bank of India (RBI) from its forex reserves and lend in foreign currency to Indian companies implementing infrastructure projects in India.
According to Planning Commission projections, the Indian infrastructure sector will need funds of around $492 billion over the next five years, rising to $1.48 trillion in the next five years.
The company will help Indian companies import capital goods in sectors such as power, airports, ports and roads, limiting lending to capital expenditure outside India.
"The financial assistance from the new company is expected to shore-up funds availability for the infrastructure sector and pave the way for creation of world-class infrastructure in India," the government said in a statement.
Since its creation in January 2006, IIFCL, a wholly owned government enterprise, has approved 78 infrastructure projects with a loan commitment of over $4.25 billion. These projects involve an aggregate project cost of over $32 billion.
IIFCL provides debt of long-term maturity of over 10 years to the public sector and public private partnerships.
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