Isuzu Motors, the newest Japanese car maker to enter India, has appointed Takashi Kikuchi as the MD for its domestic subsidiary, which is headquartered in Chennai. With over 30 years of experience in Isuzu, Kikuchi has played important roles in the companys global strategy. In his last role he was a senior executive officer in Japan, and has also been the president of Isuzu Motors Asia and Thailand. Isuzu is in the process of setting up its own assembly line in Andhra Pradesh, but has already started sales of an SUV and a pick-up truck through two dealerships.
Havells India Q4 profit up 19.84% at R109.68 crore
Electrical equipment maker Havells India on Tuesday reported 19.84% increase in its net profit for the fourth quarter ended March at R109.68 crore. The company had posted net profit of R91.52 crore in the same period of the previous fiscal, Havells India said in a filing to the BSE. Net income from operations stood at R1,169.6 crore during the period under review, against R1,046.68 crore.
PVR posts net profit of R11.72 crore in Q4
The countrys leading multiplex chain PVR on Tuesday reported consolidated net profit of R11.72 crore for the fourth quarter ended on March. It had posted a net loss of R13.24 crore in the year-ago period, the company said in a statement. During the quarter total income from operations stood at R244.42 crore against R120.24 crore in the corresponding period previous fiscal.
Alstom T&D delivers Power Grids Myanmar project
Alstom T&D India has completed delivery of substations to Power Grid Corporation of Indias (PGCIL) 230 kV transmission project in Myanmar. The project worth around R1,050 million is scheduled for commissioning in 2015. The contract covered the supply of a turnkey substation for the 230 kV transmission project which links the 120 MW Thahtay Chaung hydro power project to the electrical grid. As part of the turnkey project, Alstom India was responsible for the design, engineering, supply, and commissioning of the substation and the entire delivery of substations were completed within three months ahead of original schedule of 12 months.
Tetra Pak to double installed capacity
Packaging major Tetra Pak will be doubling its existing installed capacity in India with the opening of its new greenfield plant in Chakan near Pune. This is the Groups largest plant outside of Sweden. The R700 crore facility can make 8.5 billion packages a year and has the capacity to ramp this up to 16 million packages annually. The company has also moved the operations from its earlier location at Takwe to the new plant.
Wheels India ties up with Turkish co for lift axles
Wheels India, one of the largest manufacturer of steel wheels and part of the TVS Group, has entered into a 10-year technical collaboration agreement with Turky-based Ege Endustri, one of the leading manufacturer supplier of lift axles to European auto majors, to manufacture lift axles in India to meet greater demand from multinational companies, particularly multi-axle CV producers in India. We have recently entered into an agreement with Ege, whereby we source technology from them to make lift axles in India, Wheels India MD Srivats Ram said.
Starwood opens twin brands in Gujarat
US based hospitality major Starwood Hotels & Resorts on Tuesday announced debut of its two hotel brands Aloft and Four Points by Sheraton. The opening marks fifth Aloft hotel of the company in India, which are developed with the Urbanedge Hotels, a special purpose vehicle of Auromatrix Holdings, an anchor partner of Starwood.
Samsung launches Galaxy Mega
Widening its portfolio of smartphones, Korean electronic major Samsung on Tuesday launched another handset model -- Samsung GALAXY Mega. To be available in two variants, the GALAXY Mega comes with a 5.8 and 6.3 inch display. The phones are priced at Rs 25,100 and Rs 31,490, respectively. With a promise of Stay Smart and Live Large concept, the company is offering the phones as imported from Korea, Samsung Mobile and Digital Imaging business, country head, Vineet Taneja said.
Flipkart & Collectibilia unveil Tendulkar products
E-commerce major Flipkart.com on Tuesday announced a tie-up with Collectibilia.com, the celebrity-commerce company in which Sachin Tendulkar has invested, to retail Tendulkar branded merchandise. The merchandise includes items like pen drives, helmet-shaped paperweights, diaries and accessories including tie-pins and wallets are among the many items that will be sold. Tendulkar in a statement said, Its an interesting line of merchandise and a way to keep connected with my fans.