Chennai

Ford launches a new model in India

Chennai, Sept. 26 : Premium carmaker Ford launched the Ford Fiesta1.6 Fida in Chennai on Tuesday.

The new edition with a 1.6 litre duratec engine is available in new copper rust and panther black.

The car is priced at 6.6 lakhs.

Scoot Mcormack, Vice President (Marketing), Ford India, put the sales figures for the earlier version at 55,000, and said he expected good demand during the forthcoming festive season.

Karunanidhi’s supporters ransack BJP’s Chennai office

Chennai, Sep 23 : Dravid Munnettra Kazhagam (DMK) activists lead by State Information Minister Paruthi Ellamvazhuthi today ransacked Chennai office of the Bharatiya Janata Party, while protesting against the remarks made by Vishva Hindu Parishad leader Ramvilas Vedanti to behead their leader M Karunanidhi over his remarks on Lord Rama.

“Vedanti should withdraw his words against our leader, and the Central Government should take action on this,” Ellamvazhuthi said.

Financial Tech Group To Establish Power Exchange Soon

Chennai: Financial Technologies (India) Ltd has got nod from the Central Electricity Regulatory Commission (CERC) to establish India’s first national level power trading platform called ‘Indian Energy Exchange Limited (IEX)’ for trading electricity.

IEX, which is promoted by Financial Technologies, will be a pan-India neutral and transparent electronic demutualised exchange for competent price discovery in the electricity market. PTC India Ltd has responded favorably to obtain 26% stake in IEX.

Now IOB Is Looking For Alliances

To leverage its record for loan syndication and technology, Chennai-based Indian Overseas Bank (IOB) is thinking about a coalition with other banking institutions.

SA Bhat, chairman and managing director, said, “I have approached some banks but it is still in the formation stage. We are looking at banks with a business size of Rs 50,000-1,00,000 crore with reach in states like Gujarat and Maharashtra where we don't have that many branches.”

Ninestars To Invest Rs 60 Cr To Swell Operations

Chennai: Aming to swell its functioning in India as well as overseas, Ninestars Information Technologies Ltd, a content transformation and e-archival technology and services provider, has planned to invest Rs 60 crore within the next 18 months.

The privately held company works with publishers, broadcasters, content aggregators, media monitoring companies and administration organisations to offer intellectual business development outsourcing services.

Fortis Eyes More Stakes In Malar Group

New Delhi-based Fortis group is ready to purchase stakes in Chennai-based Malar Hospitals Ltd.

The group has signed up an agreement with the Chennai-based Malar Hospitals promoters’ to buy 28 per cent of the holdings through International Hospital Ltd - a wholly owned subsidiary of Fortis Healthcare Ltd (FHL) - and Oscar Investments Ltd.

Fortis will also make an open public offer to take over 20 per cent stake from the public. The transaction will mount Fortis’ entry into south India.




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