Quick view : Hinduja Group forms JV with Germany?s STEAG

Hinduja Group forms JV with Germany?s STEAG

Hinduja Group?s power holding company Hinduja Energy India has formed a joint venture with German energy major STEAG?s subsidiary STEAG Energy Services (India). Besides operating the Visakhapatnam plant of Hinduja National Power Corporation (HNPCL), the joint venture will carry out operations and maintenance activities of new power projects in India. The group has already announced its ambitious investment plans to set up 10,000 MW of power generation assets over the next 7-8 years with an expected investment of around $12-14 billion, a statement from the company said. STEAG has also acquired a 5% stake in HNPCL through its subsidiary STEAG Energy Services at an undisclosed premium and will have the option to invest in future power projects developed by the group.

Anant Bajaj new joint MD of Bajaj Electricals

The board of directors of Bajaj Electricals on Wednesday announced the appointment of Anant Bajaj as joint managing director with effect from April 1, 2012. Anant Bajaj has been the executive director of the company since 2006. Bajaj Electricals now has a new organisational structure and has aligned resources to bring in business synergies. The two core business verticals aligned are B2C (consumer products business) including appliances, fans, CSD, lighting and Morphy Richards and B2B with luminaires and engineering projects business. The verticals would be headed by executive directors PS Tandon and Lalit Mehta respectively, reporting to Anant Bajaj.

India Inc lost R171.94 cr to phishing attacks: RSA

India Inc lost approximately R171.94 crore or $38.2 million due to phishing attacks last year according to RSA?s recent findings. RSA is a New York Stock Exchange listed security division of EMC. Globally, companies have lost approximately R5,760 crore or $1.28 billion in the same year. The number of phishing attacks saw a 43% increase in volume from 1,15,009 attacks in H1 2011 to 1,64,571 during H2 2011. The findings have also ranked India in the top 5 most targeted countries for phishing attacks.

Shipping Corporation bags contract from Dabhol LNG

Shipping Corporation of India on Wednesday said that it has been awarded the contract for providing port and marine services at Dabhol LNG Terminal by Ratnagiri Gas and Power (RGPPL) for a period of three years. The LNG Terminal at Dabhol is a dedicated LNG Regasification Terminal and the first LNG vessel is expected to berth on March 29 at the terminal.

Hyundai Motor launches i-Gen i20 from R4.73 lakh

Hyundai Motor India (HMIL) has launched its all new iGen i20, which will be available in 12 variants. The petrol variants range from R473,400 to R665,894, and the diesel ones range from R596,334 to R744,013. The automatic variant is priced at R767,405. All prices are ex-showroom Delhi. BS Seo, MD and CEO, HMIL, said, ?Our extensive surveys indicated that the customer is seeking hi-tech and innovative features in the i20, and we have incorporated the research findings in the i-Gen i20 to offer a high value proposition.?

Honda to hike City prices again by up to R10,000

After increasing the price of its flagship sedan City by up to R10,500 following excise duty hike in Budget, Honda Siel Cars on Wednesday said it will further raise the price of the model by up to R10,000 from April 1. ?Last week, we had passed on the impact of excise duty hike partially to our City customers as it was a big amount. However, as we do not have any other option, we are passing on the rest,? Honda Siel Cars India senior vice-president (sales and marketing) Jnaneswar Sen said.

Bharti Infratel, GSMA tie up for green telecom towers

Global telecom body GSM Association (GSMA) and Bharti Airtel’s tower arm Bharti Infratel on Wednesday said they have partnered to develop and promote green technologies for telecom tower infrastructure in the country. The collaboration will entail working together to convert 1,000 Bharti Infratel towers into green sites, which will reduce greenhouse gas carbon emissions by almost 11,000 tonnes as a result of the reduced usage of diesel, a statement said.

Tata Chemicals launches flavoured salt

Tata Chemicals, market leaders in the branded salt sector with 64% share, has extended its product portfolio by launching flavored salt to meet the changing needs of consumers. Priced at R45 (for 60 gm), ?Tata Salt Flavoriitz? is launched across major cities in India-to start with. Announcing the launch, Ashvini Hiran, COO of consumer products division, Tata Chemicals said, ?Prior to the product formulation, we conducted extensive consumer research to know their preferences.?