Coal India (CIL) is targeting 46 million tonnes of production in December, up from 39 million tonnes in November to meet its annual production target of 464.10 million tonnes by March, 2013. This would be just close to 7% higher than last year's December month production, when around 43 million tonne of coal was produced. The company is not considering any price hikes as of now, but the cost of production had witnessed a substantial increase following the diesel price hike in September by Rs 5 a litre. Diesel forms a major cost component in coal production and this hike would have impacted Coal India by Rs 500-600 crore.
Steel Authority of India (SAIL) has registered a growth of 8% during November 2012 compared to the same month last year. The public sector company produced 9.72 lakh tonnes of saleable steel during November. During April-November 2012, SAIL produced 8.2 million tonnes of saleable steel, a growth of 2.3% over the previous year. During April-November 2012 fared better, with 2% improvement in coke rate and energy consumption and 3% improvement in BF productivity compared to the same period previous year.
Reliance Industries (RIL) will launch 'MiFi' devices that will allow smartphone and tablet users to access high speed internet on the go from their existing devices and enable speedy adoption of its services when it kicks off its much-awaited fourth generation (4G) offerings in mid-2013. The company is expected to first roll out 4G services in Delhi and Mumbai and the task of laying fibre optic cable networks has begun in these cities. It has also entered into contracts with Ericsson and Samsung for building networks, with Microsoft for providing security solutions and with IBM for IT integration. The RIL-owned Infotel Broadband had in 2010 won the licence to offer 4G services nationally and their launch is being tracked eagerly as the company is expected to shake up the telecom market in the same way it did a decade ago when it rolled out its low-cost voice services.
Private carrier Jet Airways has expanded its code-share arrangement with Japan's All Nippon Airways. Code-sharing allows an airline to book its passengers on its partner carriers and provide seamless transport to multiple destinations where it has no presence. The code-share with Nippon offers travelers enhanced network connectivity between Japan and India and the arrangement will enable both Jet and All Nippon passengers to fly between Tokyo and Osaka to various points across India on connecting flights operated by both carriers. In addition to the existing code-share on Japanese carrier's Mumbai -Tokyo direct flights, Jet Airways will place its marketing code on other All Nippon flights between Hong Kong-Tokyo/Osaka and Bangkok-Tokyo. Besides, Jet Airways is set to sell 24% stake to Etihad Airways for Rs 1,600 crore.
IVRCL has bagged project worth Rs 1,605-crore from Haryana Government for the development of Rai Malikapur-Kharak road corridor. The project corridor will cover a stretch of 151 km of Rai Malikapur close to the Rajasthan border up to Kharak corridor and boost the north-south connectivity. The project will achieve financial closure within six months and will take about 30 months to execute. IVRCL is engaged into engineering procurement and construction (EPC) activities in India. It conducts operations in 5 sectors namely Water and Environment, Transportation, Buildings, Power and Industrial Structures.
Lanco Infratech has signed for a long-term sale of 300 MW power from its Unit 1 of Lanco Amarkantak Thermal Power Station to Madhya Pradesh. Madhya Pradesh Electricity Regulatory Commission (MPERC) had approved the procurement process by Madhya Pradesh from Power Trading Corporation. The power will be sourced from Lanco Amarkantak Thermal Power Station. Lanco is operating the 2 x 300 MW Lanco Amarkantak power plant near Pathadi village in Korba district in Chhattisgarh. This is Lanco Group's first domestic coal-based plant based on coal supply from South Eastern Coalfields.
TVS Motor Company expects to finalize a partnership with BMW for collaboration in two-wheelers before the end of this fiscal. The company, through this partnership, would gain access to technology for introducing high-end motorcycles. TVS has launched Phoenix - its latest model in the 125 CC range, priced between Rs 49,990 and Rs 52,000 (ex-showroom, Delhi). In overall sales, the company is aiming to sell around 20,000 units of the Phoenix, and would also start exporting the model from February. The company is targeting urban customers with the Phoenix 125, which it claims would deliver a mileage of 67 kmpl.
Usha Martin's subsidiary - Usha Siam Steel Industries has formed a 50:50 joint venture (JV) in Thailand with TESAC Wire Ropes, a leading Japanese wire rope Company, under the name and style TESAC Usha Wire Rope Company' for manufacture of high performance steel wire ropes. Usha Martin is a major manufacturer of wire rods, bright bars, steel wires, speciality wires, wire ropes, strand, conveyor cord, wire drawing and cable machinery.
FMCG firm Dabur has roped in South Indian actor Samantha Ruth Prabhu for its newly launched range of air freshening gels under the Odonil brand. With this launch, brand Odonil is establishing itself as the complete air refreshing expert, offering a variety of air care solutions for every space. The new Odonil Gel will be available in four fragrances - Soothing Jasmine, Enamoring Lavender, Charming Citrus and Mystic Rose. The new product will be available across the country in both modern trade as well as general trade outlets.
The Competition Commission has approved the restructuring of the two subsidiaries of country's largest software exporter Tata Consultancy Services (TCS). The restructuring pertains to two entities -- e-Serve and TEIL. TCS, e-Serve and TEIL are into the business of providing IT, ITeS and Business Process Outsourcing services. The combination process would consist of two parts -- amalgamation of e-Serve into TCS and the demerger of the Special Economic Zone (SEZ) undertaking of TEIL into TCS. TEIL is a wholly-owned subsidiary of TCS. TCS holds 96.26 percent stake in TEIL through e-Serve. TCS along with TCS e-Serve Ltd and TCS e-Serve International Ltd had jointly filed an application seeking approval on November 12.