Tata Motors may expand sales of the Nano, the worlds cheapest car, to countries such as Thailand, Sri Lanka and Bangladesh as early as this year as demand for the egg-shaped vehicle rebounds in India. We will go after these markets one after another, Tata Motors chief executive officer Carl-Peter Forster said on Friday at an auto-industry event in Bochum, Germany.
LG to spend Rs 800 cr on capacity expansion
Hoping to see a 25% jump in sales turnover at Rs 20,000 crore in 2011, Korean consumer durables major LG will invest Rs 800 crore for capacity addition. In 2010, the company generated a sales turnover of Rs 16,000 crore. LG is also aiming to make India its largest air-conditioner market in the world by next year ahead of the current leader US.
Titan Industries net profit surges 79.6%
Titan Industries, which operates 624 retail outlets for watches, jewellery and eyewear across the country, posted a profit after tax (PAT) of Rs 140.79 crore for the quarter ended December 31, 2010, a rise of 79.6%, as compared to Rs 78.35 crore in the corresponding quarter last fiscal. Revenues for the just-ended quarter stood at Rs 1,967.91 crore, an increase of 51%.
HCL Infosystems posts flat net profit
HCL Infosystems on Friday posted a flat net profit at Rs 55.9 crore for the second quarter ended December 31, 2010, compared with Rs 56 crore posted in the year ago quarter. Net sales for the quarter stood at Rs 3,115 crore, up 2.75% from Rs 3,031 crore registered in the corresponding quarter a year ago.
Sun Television profit rises 48.4%
Kalanithi Maran promoted Sun Television Network on Friday reported a net profit of Rs 225.49 core the for the quarter ending December 31, 2010 up 48.4% over the corresponding period of previous year.
M&M gets creditors nod for Ssangyong buy
Mahindra & Mahindra (M&M) on Friday said that it got final approval from creditors and shareholders of Korean sports utility vehicle manufacturer Ssangyong Motor Company on the rehabilitation plan, thus paving way for its $ 463 million (about Rs 2,105 crore) acquisition of 70% stake in the ailing firm.