Corporate Notes

Written by fe Bureau | Updated: Jan 1 2010, 04:43am hrs
Ford India to hike prices

Carmaker Ford India said it will increase prices of its entire range of products by up to Rs 40,000 with effect from January 1. "Ford India will hike prices of all its models across the board effective from January 1, 2010. The upward price revision is due to a steady rise in input costs and exchange rate fluctuations," the company said. The company would revise the prices up wards in the range of Rs 6,000 to Rs 40,000 across different models, it added.

Britannias starter kit

The Rs 3,000 crore FMCG giant Britannia Industries on Wednesday announced the launch of a health starter kit in line with its strategy to promote products in the health food segment. The Nutrichoice health starter kit contains three health biscuit packs. Neeraj Chandra, chief operating officer of Britannia Industries said, "Consumers across all segements want healthier food. The health food segment, which is very varied and consists of a wide range of products, is worth close to Rs 3,000-4,000 crore in India and it is growing at close to double the rate of the food market."

Samsonite to invest Rs 100 cr

Travel wear and accessories major Samsonite plans to invest Rs 100-crore next year to fuel its retail expansion plans in India, which includes setting up of 200 outlets, a top company official said. "We plan to invest Rs 100-crore for brand building and retail expansion in the domestic market. We would like to focus more on large Asian markets like India," Samsonite's president (Greater Asia), Ramesh Tainwala, said. Of the total spend earmarked for 2010, over Rs 67-crore will be used for brand-building and promotional activities while the rest will go to augment the distribution network to 400, he said.

XLRI placement

XLRI School of Business and Human Resources, Jamshedpur, said it has successfully concluded its Summer Internship Recruitments with 100% of its students being offered internship across geographies and sectors. The recruiters responded with an unprecedented 273 offers made to 240 students, an increase of 27.6% over the previous year. The number of recruiters that participated in SIP 2010 also increased to 81 from 74 last year. Moreover, the average stipend this year was Rs 89,000, an increase of 4.7% over the last year.

Bajaj Hind salary hike plan

Bajaj Hindusthan said its board has approved to hike the salary of chairman & managing director Shishir Bajaj to Rs 9 lakh per month. The board of directors has approved the revision in the salary of Shishir Bajaj from Rs 6 lakh per month to Rs 9 lakh per month with resultant increase in certain allowances and perquisites, Bajaj Hindusthan said.

Four Soft bags contract

IT firm Four Soft said it has bagged a contract from the Canada-based Sheritt International Corporation for logistics management system. The company's integrated logistics management system 4S Visilog Plus--has been selected by Sheritt International Corp for implementation across multiple locations, Four Soft informed the BSE.

HCC gets Rs 374.6-cr contract

Hindustan Construction Company Ltd (HCC) said the company has received a Letter of Acceptance from Indian Strategic Petroleum Reserves Ltd for construction of civil works for underground rock caverns (Part A) for storage of crude oil project at Padur in Karnataka. The value of the contract is Rs 374.66 crore.