MTS INDIA Doubles its subscriber base from 1 million in just over 3 months
MTS India – Sistema Shyam TeleServices Ltd has doubled its customer base from 1 mn to over 2 mn in just 3 months. MTS operating on the CDMa platform is well known for introducing disruptive tariffs in India.
Mr. Vsevolod Rozanov, President and CEO of Sistema Shyam TeleServices Limited told us, Read more
Tata Rock’n'Roll with GSM operations – DoCoMO
Tata Teleservices (Tata) steals the show in August 2009: Tata’s net additions picked up in August 2009 to 3.4m subscribers, up 227% YoY and 52% MoM. Launch of GSM services in select circles (where spectrum was made available) have resulted in this strong jump. Tata’s have launched GSM operations in Mumbai and Maharashtra on August 6, 2009. Based on the initial feedback from our dealers, the response to the per second pulse rate billing offered by the company is positive. Read more
Wyeth files case against Orchid for Piperacillin, Tazobactam
Multinational pharmaceutical major Wyeth has filed a suit in the US District Court of Columbia against the USFDA relating to the agency’s approval of Orchid’s ANDAs for its generic products — Piperacillin and Tazobactam — for injections and also against the FDA’s decision on Wyeth’s Citizen Petition.
Orchid, in a filing with the BSE, stated that the matter has been heard briefly by the court. Based on a minute note filed in the court’s dockets late on Wednesday, the court has determined that it would issue Written Memorandum Opinion denying Wyeth’s motion for temporary restraining order on September 24, 2009 by noon time. <!–more–>
Prior to Wyeth’s motion, company’s generic products were already been launched in the US in distribution partnership with Apotex based on the USFDA’s approval of the relevant ANDAs.
Tata Power unlikely to meet Mundra UMPP target of 2012
Tata Power Company (TPC), the power generation utility major belonging to the Tata Group, is unlikely to meet the completion target for the 4,000 MW Mundra ultra mega power project (UMPP) of March 2012. The company, which plans to set up five units of 800 MW each, will be in position to commission only 3 units of 800 MW each by the specified date, the company’s executive director S Ramakrishnan said in a media report. <!–more–>
TPC has completed nearly 30% of the project work and is in the process of setting up the main plant equipment, the company added. It hopes to commission the first unit by September next year.
The company has placed orders for boilers with Korean equipment maker Doosan and Japanese heavy equipment major Toshiba would supply turbines for the project. Orders for switches have been placed with L&T, TPC stated.
Meanwhile, Adani is in the process of completing its port project, which would be used for importing coal for the project and PowerGrid is gearing for evacuation of power from the project. Coal for the project would come from Tata Power’s coal joint ventures in Indonesia.
Larsen & Toubro meet F2010 guidance + Improved macro environment
In April, management guided toward revenue growth of 15-20% and order inflow of 25–30% for F2010. Management expressed confidence that it could meet guidance. We believe that with recent big-ticket order wins from ONGC and in the power arena, and the bulk tender (from NTPC) expected in this financial year, the company should be able to beat F2010 guidance.
With funding concerns being resolved (though the liquidity increase globally and IIFCL in particular for India) and the new government keen to demonstrate performance, L&T has seen an improvement in the macro environment in the form of improving regulatory framework, especially for the road and power sectors. The government has made efforts to facilitate and encourage private sector investment. Read more
Food grain output to decline by 15 milion tonne: FM
India’s finance minister Pranab Mukherjee said on Wednesday that on account of poor rains this season, the food grain output in the country would decline at least by 15 million tonne. “There will be a (harvest) shortage of 14 to 15 MT as per estimates arrived at in a meeting chaired by me,’ said the FM. It would also lead to substantial impact on farm income and hence rural consumption with possible implications for indian economic recovery.
The minister however said that government was in a position to mitigate the ill impacts of the development. He said that the government would provide an additional 50-60 days work over and above the 100 days under the national rural employment guarantee scheme (NREGA) in the areas affected badly by poor monsoon so that the negative impact on farm income could be contained. Read more
Banco Products gets HC nod for merger plan
Banco Products (India), engaged in manufacturing of gaskets and radiators, has received approvals for its merger from Gujarat High Court (HC) and Bombay HC.
The high courts have approved the petition of the company for merger of Ganaga Investments with itself, as mentioned in its filing with the BSE.
It further added that the respective companies have filed necessary forms with Registrar of Companies (RoC) in this regard.
Banco Products (India) incorporated in 1961, offers a range of radiators, intercoolers, oil-coolers and all types of engine gaskets. The manufacturing facilities of the company are located at Vadodara, Gujarat.
Tata Motors to storm premium SUV segment with new launches
Tata Motors, which brought the iconic UK auto brands Jaguar and Land Rover (JLR) under its fold last year, is planning to storm the Indian premium sports utility vehicle (SUV) segment with a series of new launches from November this year.
The Indian automobile giant, which introduced the UK brands in India in June with the opening of its exclusive showroom in south Mumbai, has received a good response for the premium vehicles. The company has sold 20 units of Jaguar and Land Rover models in the last two months with the order book looking healthy in the near future. Read more
Roam on Airtel for South Africa Champions Trophy at just Rs 10 / Minute
Bharti Airtel just a while ago has informed us about the International Roaming price reduction for Indian spectators going to South Africa for championship trophy.
Between 22nd Sep’09 to 5th Oct ‘09 all INCOMING calls of your Airtel Mobile opting for MTN Network in South Africa will be charged for a flat FEE of just Rs 10 / Minute. OUTGOING calls will be expensive and are charged as per regular international roaming.
Bharti Airtel fearing competition from Tata DoCoMo has reduced Tariffs with Airtel Advantage Plan and a detailed comparison of the same is available here.
Final 3G Spectrum price may be higher than the base set by the government
The government has fixed a base price of Rs 3,500 crore for a pan-India license in the forthcoming 3G spectrum auction, nearly 75% higher than the price decided earlier at Rs 2,020 crore. The reason behind the higher base price was because the finance ministry wanted to make sure that government gets a reasonable price per unit of spectrum.
However, the actual price is likely to be much higher than what has been asked by the government. All leading operators like Bharti Airtel, Reliance Communications, Vodafone-Essar, Tata Teleservices and Idea Cellular are gearing up to place bids for 3G spectrum and have already started fund raising exercises. New licensees like Datacom Solutions and Unitech Wireless too are likely to try, though they might find it difficult if the bidding becomes really aggressive. Read more