The Government has put on hold the disinvestment of Hotel Corporation of India (HCI). The HCI, a subsidiary of Air-India, operates the Centaur hotel chain with properties in Delhi, Mumbai and Srinagar. An official release on Friday said that the civil aviation ministry had directed AI that all further actions being undertaken for the disinvestment of HCI might be kept on hold till the new Government was in position, since the election process was on and the model code of conduct was in force.

Sony strategy for audio systems

Sony India is reorienting its marketing strategy for the audio systems in an effort aimed at increasing its market share by at least 5 per cent. The new strategy involves launch of high featured, low priced hi-fi music systems targeting the semi-urban markets, the company stated here. The new systems are priced between Rs 13,490 and Rs 27,990. The models were launched mid-August and the company claims to have received tremendousresponse.

TI mulls acquisitions

Tube Investments of India Ltd, part of the Rs 3,100 Murugappa group, would be looking at acquisitions of synergetic business, to become market leaders in the bicycle business and work towards getting a foothold in the autocomponent business, TIIL president VA Raghu. The component business is likely to work around its core competencies of tubes, strips and chains. Raghu was in Pune to mark the golden jubilee celebrations of the company. TIL is setting aside Rs 150 crore for synergetic acquisitions and around Rs 80 crore to upgrade technology and quality of the bicycles.

Kinetic group unveils Style

The Kinetic group hopes to make the best of the growth witnessed in the non-geared scooter segment with the launch of its Style brand of scooterette to add to the DX, ZX and Marvel models of scooters. The market size is estimated at 2,25,000 and Style is expected to capture 25 per cent of the market by 2000. At the launch held in Pune, Kinetic Engineering jointmanaging director Sulajja Firodia Motwan said that the Style would be initially manufactured at KEL's facility at Koregaon Bhima as there was capacity constraints at the Kinetic Motor Company plant at Pithampur.

Escotel in takeover bid

Escotel Mobile Communications Ltd is in talks with various cellular operators for friendly takeover of at least two more cellular circles, according to Escotel Mobiles chairman Rajan Nanda. The company, which is already operating cellular services in Kerala, Haryana and UP West, has identified five circles including Gujarat, Maharashtra, Andhra Pradesh, Karnataka and Punjab for possible takeovers. ``We will prefer taking over existing companies over acquiring new licences. Acquisitions will give us immediate business,'' Nanda said.