Business Archive

Sony India targets 20 percent share in notebook market

Published: November 3, 2009Posted in: Business, National, Sci-TechTags:

New Delhi, Nov 3 – Consumer electronics company Sony India is planning to capture a fifth of the country’s consumer notebook market by the end of fiscal 2010, a top official said here Tuesday.

‘We are targeting to capture 20 percent share of the consumer notebook market by fiscal 2010,’ said company managing director Masaru Tamagawa.

‘We plan to do this by introducing unique products with cutting edge technology, expanding our distribution channels across the country and investing more in marketing,’ Tamagawa said at a press conference.

Sony India, which currently has a market share of 15 percent in the notebook segment, Tuesday launched three new laptop models – ultra slim VAIO X, colour coordinated VAIO CW and a new netbook VAIO W.

According to Tamagawa, VAIO X, which weigh 655 grams and is half inch wide, is ‘much lighter and thinner than Apple’s Macbook Air’, considered the slimmest laptop available.

The company is planning to invest Rs.15 crore (Rs.150 million) on marketing its new laptops, and engaged Bollywood actress Kareena Kapoor to endorse VAIO X.

‘We have roped in Kareena for this slim and lightweight product because she is famous as being size zero. Besides, we will be marketing our new products heavily through mediums like print, cinema, radio, outdoor and online,’ said Tamagawa.

This apart, Sony is also planning to increase sales counters by 100 percent by 2010.

‘In fiscal 2008, Sony had 500 sale counters but we plan to double it to 1,000 by fiscal 2010. We are also looking at increasing exclusive VAIO counters to 20 across India,’ he added.

Atul Chaturvedi is new steel secretary

Published: November 3, 2009Posted in: Business, NationalTags:

New Delhi, Nov 3 – Atul Chaturvedi has taken over as steel secretary from P.K. Rastogi, a ministry statement said Tuesday.

A 1974 batch Indian Administrative Officer of the Uttar Pradesh cadre, Chaturvedi was earlier secretary in the department of fertilisers under the ministry of chemicals and fertilisers.

Rastogi retired Oct 31, the statement added.

Hyundai Construction to focus on Uttar Pradesh

Published: November 3, 2009Posted in: Business, NationalTags:

Lucknow, Nov 3 – Hyundai Construction Equipment India has said it will focus on the Uttar Pradesh market to boost the sales of its construction equipment.

‘We are aware of the potential requirement of construction equipment in Lucknow and other parts of this fast-developing state,’ J.S. Kim, managing director of the company, told reporters here Monday night.

The company, a wholly owned subsidiary of Hyundai Heavy Industries, has already appointed a local dealer, AB Equipment, to increase operations in Uttar Pradesh.

‘Keeping in view the potential of the Indian market, we have already set up a plant in Pune to manufacture excavators. We are also importing loaders, rock breakers, clamshell buckets and other equipment and selling them in India,’ Kim added.

He added that company would make direct investments in Uttar Pradesh and later expand its operations across the country.

Sensex ends 3.5 percent lower, realty, metals stocks hit (Third Lead)

Published: November 3, 2009Posted in: Business, NationalTags:

Mumbai, Nov 3 – A benchmark index of the Indian equities markets fell sharply to close 559 points lower Tuesday, with investors dumping stocks especially in realty, metals, energy and power companies.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened lower at 15,838.63 points, shut shop at 15,337.3 points (provisional), 558.98 points or 3.51 percent below Friday’s close at 15,896.28 points.

Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE) too was in negative terrain at 4,545.15 points, down 3.53 percent or 166.55 from its last close.

Selling pressure intensified in mid-to-small capitalised scrips as well, with the BSE midcap and smallcap indices closing significantly lower.

Sensex falls 1.23 percent

Published: November 3, 2009Posted in: Business, NationalTags:

Mumbai, Nov 3 – A key Indian equity index was 1.23 percent in the red Tuesday afternoon as selling pressure picked up across the market.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened lower at 15,838.63 points, was at 15,701.44 points, 1.23 percent or 194.84 points below Friday’s close at 15,896.28 points at 2.18 p.m.

Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE) too was in negative terrain at 4,658.3 points, down 1.13 percent from its last close.

Selling pressure intensified in mid-to-small capitalised scrips as well, with the BSE midcap index 2.06 percent down, while the BSE small cap index was trading 2.68 percent lower.

Over three million tonnes of paddy procured in Haryana

Published: November 3, 2009Posted in: Business, NationalTags:

Chandigarh, Nov 3 – Over three million tonnes of paddy have been procured in Haryana this season since Oct 1, officials said here Tuesday.

The 30.88 lakh tonnes sold in the state is higher than the 30.72 lakh tonnes that arrived in the state’s grain markets in the corresponding period last year.

A food and supplies department spokesman said the paddy had been purchased either by government procuring agencies or by rice millers and dealers.

Over 23 lakh tonnes of paddy were purchased by the government. The procurement season this year will go on till mid-December.

Last year, over 40 lakh tonnes of paddy arrived in Haryana’s grain markets.

Among the 21 districts in Haryana, the arrival has been the highest in Kurukshetra that accounted for about 8.2 lakh tonnes of paddy, the spokesman added.

In neighbouring Punjab, over 100 lakh tonnes of paddy had been procured till last week.

Jaipur fire: Indian Oil faces negligence charge

Published: November 3, 2009Posted in: Business, NationalTags:

Jaipur, Nov 3 – An executive of a private company has filed a complaint against Indian Oil Corporation (IOC) after a fire broke out at its oil depot here Oct 29 killing 11 people and injuring over 150. With four of the 11 tanks in the depot still ablaze on the sixth day, the IOC has been charged with criminal negligence.

The blaze broke out in the depot in Sitapura industrial area about 20 km from the Jaipur city centre at 7.15 p.m. Oct 29.

‘The FIR (first information report), was filed on Monday by Pratipal Singh, an employee of Genus Power Infrastructure Limited, a factory that is situated near the IOC depot,’ a police officer told IANS here Tuesday.

‘We have lodged a case under Section 304 A, which relates to causing death by negligence, and other appropriate sections of the Indian Penal Code,’ he said.

According to the management at Genus, the factory has suffered massive damages because of the fire.

‘There were three casualties in our factory and 15 others were injured. It is difficult for us to assess the damage to the industrial unit as of now. We would only be able to do it once the fire is controlled in the depot,’ an official of the factory said.

Meanwhile the district administration has decided to shut educational institutes in Sitapura for the next eight days. The decision was taken as some of the buildings at the institutes were damaged.

The district administration said that the fire is still blazing in four of the 11 tanks situated in the depot. These tanks contain petrol and diesel. In the remaining seven tanks the fire has almost come to an end and black smoke is coming out, which has formed dark clouds in a two to three km radius around the premises.

A union petroleum ministry team has already visited the site and started its probe into the fire. The team is to submit its report in 60 days.

IOC officials say it will take over a year to rebuild the depot which has been completely damaged.

People living in close proximity of the depot have been complaining of breathing difficulties and itching in the eyes.

‘Since Friday night I have been having problems in breathing. I complained to my doctor and he told me it is because of the smoke in the air,’ Adesh Kumar, a resident of a nearby colony, said.

Sensex volatile, realty, metals depressed

Published: November 3, 2009Posted in: Business, NationalTags:

Mumbai, Nov 3 – A key index of the Indian equities markets was trading on a volatile note early Tuesday afternoon even as realty, metals and energy stocks came under selling pressure.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened lower at 15,838.63 points, was at 15,886.93 points, 0.06 percent or 9.35 points below Friday’s close at 15,896.28 points at 12.36 p.m.

The key index was fluctuating within a 200-point range.

Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE) also traced a similar path and was ruling at 4,708.65 points, down 0.06 percent from its last close.

Broader market indices were similarly on the decline, with the BSE midcap index 0.41 percent down, and the BSE small cap index was trading 1.22 percent lower.

The market breadth was negative, with 908 stocks advancing, 1,569 declining and 70 remaining unchanged.

Among the gainers this time on the Sensex were Bharti Airtel, up 4.59 percent; ICICI Bank, up 3.21 percent; Sun Pharma, up 2.56 percent and Grasim, up 1.76 percent.

Among the losers were Reliance Communications, down 5.68 percent; Hindalco, down 4.55 percent; DLF, down 4.46 percent and Reliance Infra, down 2.68 percent.

Other Asian markets were under selling pressure as well.

The primary index of the Hong Kong Stock Exchange, Hang Seng, was 292.63 points or 1.35 percent lower at 21,327.56 points.

The Kospi, benchmark index of the Korean Stock Exchange, was also in the red at 1,549.92 points, down 9.17 points or 0.59 percent.

The Nikkei, a key index of the Tokyo Stock Exchange, closed 231.79 points or 2.31 percent lower at 9,802.95 points.

However, the Shanghai Stock Exchange composite index was ruling 1.22 percent up at 3,031.33 points.

Larsen and Toubro bags Rs.6,897 crore order

Published: November 3, 2009Posted in: Business, NationalTags:

Mumbai, Nov 3 – Construction and engineering major Larsen and Toubro (L&T) Tuesday said it had bagged a Rs.6,897 crore order from Maharashtra State Power Generation Co. (Mahagenco) to build three boiler turbine units for an upcoming supercritical power plant of 1,980 MW.

The plant, being built at Koradi, 20 km from Nagpur, is expected to add 50 million units to the national grid, the company said in a regulatory statement.

The scope of work for the $8.5 billion technology, engineering and construction group extends from design and manufacturing to commissioning the boilers.

L&T had recently received an order to construct supercritical equipment for a 1,320 MW plant from Jaypee Industries.

Finnair launches initiative for children of Bihar

Published: November 3, 2009Posted in: Business, NationalTags:

New Delhi, Nov 3 – Nordic carrier Finnair has launched a new programme as part of its corporate social responsibility initiative in India to ensure safe drinking water and proper sanitation for the children of Bihar.

Called the ‘Change for Good Campaign’, the carrier will start collecting money from its passengers – even small change, and hence the name – that would be routed via the United Nations Children’s Fund (Unicef) to the children of the state.

‘We want a safe learning environment for the children of Bihar. Our objective is also to encourage children, families and communities to adopt hygienic practices and practical water treatment measures,’ said Kari Stolbow, Finnair director for the Indian subcontinent.

The collection starts end of this month and will continue till Jan 10 next year, he said, adding Finnair will also make its own contributions to the programme.

The Change for Good Campaign has been arranged on nearly all the international flights of Finnair. The donated cash/change can be placed in a collection envelope on seatback pockets, which can be sealed and given to the cabin crew.

Donations can also be made online at www.unicef.fi/lahjoitaverkossa. This apart, people can also participate by giving their donations to the airline’s passengers, who can put it into the collection boxes located at Finnair lounges at Helsinki-Vantaa Airport.

This is the 14th time the carrier has arranged the campaign. Over the years, it has been directed to education programmes in Rwanda and Nepal, HIV/AIDS in Vietnam and Kaliningrad and an emergency relief project in Kosovo.

« Older Entries
Newer Entries »