Indian consumers will have the option to buy iPhone legally as Vodafone has signed an agreement with US Technology major Apple Inc. Vodafone will sell Apple’s popular gadget iPhone in 10 countries including India, Australia, South Africa, New Zealand, Italy and Greece.
Mumbai-based GTL Infrastructure (GIL), a subsidiary of telecom network major GTL, has acquired Essar Telecom Infrastructure (ETIPL), a closely-held subsidiary of the Essar Group and one of the largest telecom infrastructure service providers in the country for an estimated $1.5 billion (Rs 6,000 crore) according to sources.
Goldstone Infratech Limited, a part of Goldstone Group has informed that the Company is entering into a major Joint Venture with Dr. June Min, the founder of TF SolarPower Pvt. Ltd and Jusung Engineering Ltd., an equipment supplier in Korea to set up solar panel fab in the FAB CITY, Hyderabad.
Goldstone Infratech, will hold a 54 per cent stake in the venture, and Dr. Min and Jusung Engineering will hold 46 per cent.
Spice Mobiles Limited, India’s leading mobile handset company, has formed a strategic collaboration with Qualcomm Incorporated, a leading developer and innovator of advanced wireless technologies and data solutions, to bring highly differentiated 3G CDMA (CDMA2000 and WCDMA) devices to the Indian market.
This collaboration has strategic significance for both the companies. It will empower Spice Mobiles to address the demand for 3G-ready devices ahead of commercial launch of 3G services in the Indian market in sync with Qualcomm’s business model that enables companies to participate and compete in the wireless ecosystem with a view to provide consumers with innovative solutions and enriched experience.
Creative, a worldwide leader in digital entertainment products has introduced a new ultra-compact and lightweight MP3 player MuVo T200 in Indian market. The tiny gizmo functions as both a MP3 player and a USB storage device. Apart from these, it also packs a built-in FM radio and voice recorder.
India’s leading IT and Business solutions provider for the telecommunications industry, Tech Mahindra, has entered into a strategic partnership with US-based Veracode Inc., the world’s leader for on-demand application security testing solutions.
Indian IT major Wipro recently announced better than expected results. The company also expressed that the margins may remain strong for the next two quarters.
Wipro Chairman Azim Premji’s eldest son Rashid Premji may soon be heading the banking and financial services sector for the company. Wipro offers solutions to Insurance and Financial services companies and the sector accounts for 25% of Wipro’s total business.
HP India launched an ultra-slim Personal Computer “Compaq dc7800” offering improved performance and energy saving. HP has launched the model with solid-state hard drive (SSD), which is considered more reliable than SATA and SCSI drives. The model is having a very compact design and is 46 % smaller compared to other models from the company.
Compaq dc7800, priced at Rs 40,000, may not be very affordable for all desktop users, but considering all features and sleek design, the latest offering from HP looks fairly valued.
Oil touched a new high of $113 per barrel on Tuesday. Technical experts believe that Oil may touch $115 level soon and we can see some correction after a week from now. Inflation has gone out of control of Indian Government. Many illegal stores were raided by government officials recently to check any black marketing in commodities.
Commodity prices were down sharply on Tuesday with major commodities plunging on MCX after the news of raids. Among spices, Jeera was down followed by Black Pepper. Channa Dal prices were also trading much lower compared to earlier close.
Indian Stock Markets remained range-bound on Wednesday. The BSE Sensex closed with a gain of 90 points at 16,244. NSE Nifty closed at 4,877 with marginal gains. Technology stocks gained quite smartly. Satyam Computers was trading firmly during the day with a gain of more than 5.5%. Infosys Technologies close 6.3% higher compared to earlier close. Wipro was up by almost five percent.
Indian consumers will have more choice in small car segment with auto major Toyota announcing the expected launch of their small car by year 2010. Top officials at Toyota recently said that the small car will make its debut in India very soon.
Toyota manufactures Innova and Corolla at its present facility in Bangalore. The company imports Luxury Sedan Toyota Camry and SUV Prado for Indian markets.
Aishwarya Telecom Limited, an Indian maker of telecommunications testing equipment, is entering the capital market with a public issue of 40,00,000 equity shares of Rs 10 each for cash at a premium to be decided through the 100 per cent book building process.
The price band for the issue has been fixed at Rs 32 to Rs 35. The issue will open on April 15 and close on April 17.
The net comprises a reservation of up to 1,00,000 equity shares for eligible employees and the net issue to the public would be of 39,00,000 shares. The net issue to the public would constitute 36.59 per cent of the fully diluted post issue paid-up capital company.
India'a largest pharmaceutical company Ranbaxy Laboratories Ltd has entered into a collaborative research agreement with the Department of Biotechnology (DBT), New Delhi, in the area of New Drug Discovery Research (NDDR).
The research will be conducted under the aegis of DBT's major initiative in the area of tuberculosis and three major areas identified in the program are: - Development of Diagnostics - Development of Vaccines - Development of Drugs.
Under the alliance, Ranbaxy will develop novel drugs, using inhibitor design for novel targets / pathways /proteins etc.
The Union finance minister has finally cleared 20 foreign direct investment proposals worth Rs 1,962.05 crore including Rs 924-crore proposal of UTV Software Communications Limited.
The proposal has been approved by the Finance Minister Mr. P. Chidambaram on the recommendation of Foreign Investment Promotion Board.
Larsen & Toubro Ltd. (L&T), India's biggest engineering company, has bagged orders worth Rs 1687 crore from the Government of Rajasthan, Bhushan Steel-Orissa, SAIL-Bokaro Steel Plant and the Damodar Valley Corporation (DVC).
The construction division of L&T has secured an EPC contract worth Rs 635 crore from the Public Health Engineering Department, Government of Rajasthan, for Design, Supply, Build and Commissioning of Banner Water Supply Project. The project is scheduled to be completed in 18 months.
Mumbai-headquartered Spanco Telesystems & Solutions Ltd has informed that the company has secured various Letter of Intent’s (LoIs) worth Rs 165.53 crore from different clients.
The company has secured first LoI worth Rs 20.08 crore from Bihar State Electronics Development Corporation Limited.
The 5-year-project built under BOOT (Build,Own, Operate and Transfer) basis includes supply, installation, implementation, commissioning, operations and maintenance of Network and other passive equipments of Modernization of Prison — Security (MoP) across 53 jails of Bihar State.
Chennai: Virender Sehwag blasted an unbeaten 309 in the first Test-match at the M.A. Chidambaram Stadium here on Friday against South Africa. Indian team managed to score 468 for the loss of one wicket with Sehwag (309*) and Dravid (65*) unbeaten on the crease at the end of day three of the match. India now trail South Africa by only 72 runs. South Africa scored 540 runs in their first innings.
Indian department of telecommunications (DoT) has instructed Blackberry maker, RIM to setup their servers to host email in India.
The decision was taken at a meeting between DoT officials, security agencies, company executives, Canadian High Commission representatives and telecom operators.
The Indian Government feels that this decision will enable security agencies to monitor e-mails sent by Blackberry users.
Bharat Oman Refineries Limited (BORL), an equal joint venture between state-owned Bharat Petroleum Corporation (BPCL) and Oman Oil Company (OMCL), plans to raise Rs 2,400 crore through an initial public offer and other placements.
The company has filed the draft red herring prospectus with SEBI for the proposed IPO on Friday.
The company plans to sell a total of about 48% through the public offer and a pre-IPO placement to raise up to Rs 2400 crore.
The present issued and paid-up equity share capital of BORL is Rs 151 crore, which primarily comprises equity shares held by, inter-alia, BPCL and Oman Oil Company S.A.O.C.
Post the IPO, Oman Oil’s stake in the company is likely to reduce to 5 per cent.
Microsoft Corporation India Private Limited, the Indian arm of world’s biggest software company Microsoft, has announced a range of price reductions on the retail versions of Windows Vista, the latest operating system from Microsoft.
The price reduction is aimed at benefiting individuals (home users, self employed professionals & small business owners) purchasing stand-alone copies of Windows Vista.