Idea expands services agreement with Ericsson
Networking gear maker Ericsson on Tuesday said it has signed an agreement with Idea Cellular to provide managed services in five Indian telecom circles. The circles include Mumbai, Jammu and Kashmir, Himachal Pradesh, the northeastern states and Assam. Under the three-year agreement, Ericsson will be responsible for managing network and field operations, maintenance activities for 2G and 3G sites, network design and planning, network performance improvement, and programme management for infrastructure. As part of the agreement, about 70 Idea employees will join Ericsson India.
Ford launches automatic variant of Fiesta
Ford India on Tuesday launched an automatic transmission variant in petrol mode of its sedan Fiesta, priced between R8.99 lakh and R9.7 lakh (ex-showroom Delhi). The all new Fiesta powershift automatic will further open up this segment. This new variant comes with a very affordable pricing and better fuel efficiency than the manual one, Ford India president and MD Michael Boneham said. The existing prices of the manual petrol variant of the new Fiesta varies from R8.25 lakh to R9.44 lakh. The diesel variant is priced at R9.28 lakh to R10.43 lakh (ex showroom Delhi).
Bosch reports 33.47% increase in net profit
Bosch on Tuesday reported a 33.47% increase in net profit for the December quarter aided by higher yields on the companys investments and steady growth in certain auto segments such as tractors despite the auto industrys sluggish overall growth. The Bangalore-based flagship company of the Bosch Group in India posted net profit of R281 crore for the December quarter against R210 crore in the corresponding quarter in the previous year. The company reported a 11.4% increase in net sales for the quarter at R1,918 crore against R1,722 crore in the previous year.
GMR Infra in talks to sell $200 m in road assets
GMR Infrastructure is in talks with private equity investors to raise roughly $200 million by selling stakes in road projects, three sources said. The company is in talks with a fund jointly managed by Indias largest lender, SBI, and Australias Macquarie Group for an investment, sources said. It is also in talks with 3i Group and IDFC Project Equity, said the sources.
JSW Steel production
up 39% in January
JSW Steel reported monthly crude steel production of 8.05 lakh tonnes for January 2012, a growth of 39% over the corresponding month in the last fiscal year. The company made 5.95 lakh tonnes of rolled flat products and 1.51 lakh tonnes of rolled long products during the month, a growth of 29% and 65% year-on-year respectively.