Infosys Technologies on Monday said its independent director Claude Smadja has retired from the companys board. In a media release, the company said Smadja joined the board in October 2001. Smadja is the president of Smadja & Associates Inc. He was former managing director of World Economic Forum and director of news and current affairs department of the Swiss Broadcasting Corporation. NR Narayana Murthy, chairman of the board and chief mentor, said, Claude Smadja's vast knowledge of macroeconomics, corporate governance, his simple demeanor and courtesy had made him a heavy weight in board discussions. We wish him the best in all his future endeavors. I am convinced that Infosys has all it takes to continue to go from strength to strength in an increasingly complex global environment, said Smadja.
Essar to increase refinery capacity 71% in one year
Essar Oil will raise its refinery capacity to 18 million tonnes within the next 12 months a whopping 71% rise in refining capacity from the current 10.5 million, CMD Naresh Nayyar said on Monday. Apart from expansion, Essar Oil is also working to modernise its refinerys crude processing capability. It plans to increase its Nelson Complexity Index to 11.8 from the current 6.8, Nayyar said.
ABG Shipyard sells 5.341% in Great Offshore
ABG Shipyard on Monday said it has sold 5.341% stake in Great Offshore. In a notice to Bombay Stock Exchange, ABG Shipyard said it sold 1.9 million shares of Great Offshore via open market. ABG Shipyard shares ended at Rs 235.25 on National Stock Exchange, down 0.6% from previous close. Great Offshore shares closed at Rs 386.05 on NSE, up 3.4%.
Addl 300 mw of Ratnagiri plant onstream by Oct
JSW Energy on Monday said an additional 300 mw of the 1,200-mw Ratnagiri power plant will go on-stream by October this year. The company's first phase (300 mw) power plant is already synchronised with the grid, a top company official said. Our first phase (300 mw) power plant is synchronised with the grid. We will commission the second phase (300 mw) of our 1,200-mw power plant at Ratnagiri from next month, company CMD Sajjan Jindal said. Earlier, the environment ministry raised questions about the project after mango growers in the Ratnagiri area complained against the plant. The mango growers had expressed concerns that toxic gases emitted by the thermal power plant would hamper the production of the fruit.
Radico Khaitan looking at global marketing tie-ups
Radico Khaitan is looking for marketing tie-ups with international companies to launch premium foreign liquor brands in India, CMD Lalit Khaitan said on Monday. We have started an international brand division. A lot of international companies want to come to India, they need people to distribute their brands here, he said on the sidelines of an Assocham summit.
Tata Power launches demand mgt programme
Tata Power, India's largest integrated private power utility, has chalked a '5-point' programme under 'demand side management'. It is in the process of recommending two additional programs for Maharashtra Electricity Regulatory Commission (MERC) approval. These DSM programs are based on extensive load research, understanding the consumer load curve, time of use, ownership of electrical goods, load profile and affordability of energy efficient products.
Kaspersky to invest $2 mn in Indian operations
Moscow-based Kaspersky Lab, offering content security solutions, will invest $2-million in its Indian operations during the year. The will enable the company expand its partnership network and sales operations office from Hyderabad. Suk Ling Gun, MD, South Asia Kaspersky Lab, said the company will explore new opportunities in the government sector, education and e-governance projects.
Ericsson picks up stake in Novatium Solutions
Telecom technology giant, Ericsson has picked up a minority stake in Chennai-based Novatium Solutions for an undisclosed amount, the company said in a statement issued in Chennai on Monday.
NGIL sets up plant in Guj, eyes Rs 500-cr turnover
Nitta Gelatin India Ltd (NGIL), an Indo-Japanese joint venture company, will market its newly-introduced consumer healthcare product Gelixer CollagenPep, a functional food product for joint health, into the Southern markets aggressively in the next two months.
The product will be launched across the country in phases by April.
G Suseelan, MD, said: CollagenPep, which was introduced in Kerala market on a trial basis, has received encouraging response and we will scale up production to meet the actual demand across the southern markets initially and then nationally. Sales exceeded the initial estimates by more than 30%.