In order to capitalise on the sharp revival in the Indian commercial vehicles market and to become one of the major players in the CV industry, Mahindra Navistar Automotives Limited (MNAL), a joint venture between M&M and Navistar of the US, is gearing up to roll out complete range of products over the next one year. It will also well spread its wings across the country through 100 dealerships, besides setting up large number of service points and road side assistant points.
Trimex plans $850 million titanium unit in Indonesia
Trimex Sands, a part of the Trimex group which has presence across India, UAE, Dubai and a leading international conglomerate with a focus on heavy minerals, has signed an MoU with the Indonesian government to set up a world-class integrated titanium project worth $850 million. Leveraging heavy mineral resources in Indonesia, the company will identify the projects site in accordance with the location of titanium resources in the country and will enable the authorities to advance lesser-developed regions of Indonesia. The company will invest in three phases over the next 10 years.
Medfort ties up with Ras Al Khaimah
Medfort Hospitals, a healthcare delivery organisation has floated a joint venture with Ras Al Khaimah Hospital, UAE and in association with LV Prasad Eye Institute (LVPEI) for setting up of a Centre for Excellence for eyecare. The joint venture was announced recently at Ras Al Khaimah, UAE. Medfort is an associate of the largest integrated healthcare organisation in India, founded by GSK Velu (founder and managing director of Trivitron Healthcare).
Zuari pre-tax profit up 9% at Rs 208 crore
Fertilizer maker Zuari Industries has reported an 8.9% rise in profit before tax at Rs 208 crore in the third quarter on higher sales in plant nutrients and pesticides. Turnover rose 39% in the December quarter to Rs 1,524 crore from the previous corresponding period. In the first nine months of the fiscal, turnover jumped 49% to Rs 4,556 crore, the company stated. The enhanced performance was primarily on account of higher fertilizer sales volumes, which at 1.745 million tonnes, recorded a growth of 40% over the 1.244 million tonnes achieved in the nine month period ending December 2009.
Accel Frontline revenue up 36% at Rs 91.7 crore
Accel Frontline (AFL), a key player in IT infrastructure services posted a consolidated revenue of Rs 91.7 crore for the third quarter, clocking a rise of 36% over the corresponding quarter previous fiscal. AFLs profit after tax has increased to Rs 2.4 crore from Rs 1.2 crore. The company had a sequential growth of 9% in turnover and 472% in profits as compared to the quarter ended September 30, 2010. The company had an order intake of Rs 154 crore for various system integration projects such as data centre integration, network management and managed services, said a release.
Maruti crosses 1 million sales mark in 10 months
The countrys largest carmaker Maruti Suzuki India, which became the first company in India to sell one million units in a single year last fiscal, has already crossed the milestone in just ten months this financial year. During the April-December this fiscal the company sold a total of 9,27,655 units, which includes both domestic sales and exports. As on January 25, domestic wholesales is at 73,874 units, while the export figures will be compiled at the end of the month. Even then, we have already crossed the one million mark for this fiscal," a senior Maruti Suzuki India (MSI) official said.
Tata Steel targets 10 m tonne capacity in 2011
Tata Steel's Managing Director H M Nerurkar on Tuesday said 2011 will be challenging for the company as they will be completing the ongoing expansion programme to achieve 10 million tonnes capacity. Following the expansion, the official capacity will be 9.7 million tonnes, but we are confident to excel the target and achieve 10 million tonnes," Nerurkar said. However, the commissioning and operation following the expansion will be a challenging task before the employees, he said.
Cauvery asset crosses 1 million tonne output
It will be a race to the finish for state-run oil and gas firm ONGC's Cauvery Asset to meet its production target for the XI Five-Year Plan (2007-12), with cumulative output crossing the 1-million metric tonnes mark recently, a top company official said on Wednesday. The company was set a target for production of 1.113 MMT of crude oil from the Cauvery Asset in the XI Plan.