BLUE Star, the air-conditioner manufacturer, has targetted a 2 per cent increase in its market share to 36 per cent with the launch of energy saving scroll compressors. Blue Star on Monday announced a nation-wide launch of packaged air-conditioners fitted with imported Copeland scroll compressors. Scroll technology at a 5 per cent premium to the conventional technology allows for 60 per cent of the cost to be recouped, executive vice-president, TGS Babu said.

Sony unveils `Wega' TV

Japanese consumer electronics major Sony Corporation on Monday launched its super flat, high precision `Wega' televisions in the country. The next generation flat display Sony Wega is technically advanced step based on Sony's trinitron technology. "Wega technology makes viewing comfortable," Sony India managing director H Matsumogo He said Sony was hopeful of establishing its leadership status in the market with the introduction of Wega.

Ashima's `Logo'menswear

Ashima ltd, launched its cotton readymade menswear called `Logo' in Delhi on Monday. "We would be going through shop 'n shop, retail and exclusive outlets and hope to reach at least 500 outlets nationwide," chief executive officer, Ashima Attires, a division of Ashima Ltd, MS Bhandari said. The company plans to roll out the product nationally by the year-end.

IPCL to scrap old cracker unit

Public sector Indian Petrochemical Corporation Ltd (IPCL) will phase out its old cracker unit located on the outskirts of Baroda, an IPCL spokesman said. The present unit, having 1,30,000 tonnes of ethylene capacity, would be scrapped in a phased manner and replaced by a higher cracker having capacity of 3,00,000 tonnes per annum of ethylene, he said.

New president of AIAM

Venu Srinivasan, chairman and managing director of TVS Suzuki Ltd, has been elected president of the Association of Indian Automobile Manufacturers (AIAM) and the Society of Indian Automobile Manufacturers (SIAM) forthe year 1999-2000. Ashok Leyland managing director R Seshasayee has been chosen for the post of the vice-president.

NHPC takes over 2 power projects

The National Hydro Electric Power Corporation (NHPC) has taken over two mega hydro power projects totalling 13,475 mega watts from the Brahmaputra Board in Arunachal Pradesh. The takeover of Subansiri upper dam project and Dehang upper dam project follows a directive of the Centre and high level discussion between officials of NHPC and Brahmaputra Board.

Modi GBC preferential issue

The board of Modi GBC has decided to further issue of 1,39,00,000 equity shares of Rs 10 each aggregating Rs 13.90 crore on a preferential basis to both joint venture partners equally, subject to the approval of shareholders.