State-run power utility Sutlej Jal Vidyut Nigam (SJVN) has declared a dividend of R330.93 crore for the 2010-11 financial year. The dividend was approved by the companys shareholders at its 23rd AGM in Shimla, SJVN chairman and managing director RP Singh said. The declared dividend per equity share comes to R0.80, against R0.79 in the previous fiscal, he added.
Oil India may diversify into city gas distribution
State-run Navaratna oil explorer Oil India is chalking out an expansion and diversification strategy that could also include an entry into the city gas distribution space. We plan to pursue a cautious strategy for our exploration initiative. We are looking for sure-bets, because exploration is a risky activity. Even when it comes to domestic exploration, we intend to bid for the next Nelp auctions very selectively, Oil India director for exploration & development Baikunta Nath Talukdar said.
Allahabad Bank plans overseas branches
State-run Allahabad Bank is mulling an entry into four Asian cities by opening overseas branches, with a view to increase its international footprint, a top official said. We have approached RBI for four new branches. One in Singapore, another in Dhaka, a third in Shanghai and fourth in Kowloon in Hong Kong, Allahabad Bank vhairman and managing director JP Dua said.
Elder Health Care set to enter Sri Lankan mkt
Elder Health Care on Sunday said it will enter the Sri Lankan market by next month with the launch of branded personal care products and is scouting for acquisitions in Europe as part of global expansion plans. The Mumbai-based firm, which mainly sells in-licenced products, also plans to boost its own brands and will introduce about 5-6 products in the Indian market.
Vicco eyes Rs 1,000-cr turnover by FY16
Consumer goods producer Vicco Laboratories has said it plans to more than double its topline to Rs 1,000 crore over the next five years and has chalked out a massive marketing and brand-building plan to achieve this. The company said that it is also planning a joint venture manufacturing facility in Dubai.
Pearson plans tie-ups with education firms
Diversified group Pearson is looking for partnerships to expand the reach of its English language tests in the fast-growing Indian education sector. The Pearson Test of English (Academic) is a computer-based test for international students aimed at assessing their proficiency in the English language.
Realty sector to face tough time for a year: JLL
With the US and European debt crisis affecting sentiments across the world, the Indian real estate sector is likely to see a gloomy phase in the next 12 months and developers would face liquidity crunch, low sales and pressure on margins, consultant Jones Lang LaSalle said. The country's leading realty consultant pointed out that the projects would be delayed, unsold housing stock will rise and developers might have to offer new projects at 10-15% discount, all because of a slowdown in property demand.
Mattel plans to enter kids apparel segment
Toy-maker Mattel has said it will enter the domestic kids apparel segment by the year-end via its popular brands Hot Wheels and Fisher-Price. Mattel Toys, which also makes the globally popular Barbie dolls, is present in this segment with Barbie range of clothes and accessories.
Canon hopes to reverse falling inkjet printer sales
Japanese digital imaging firm Canon has said it is witnessing a decline in inkjet printer sales in the domestic market, in line with falling personal computer sales, but it hopes to reverse the trend in October through household sales. "With the PC market saturating, the function of inkjets is also diminishing and so are their sales. Declining PC market is threatening this segment now, but using inkjet multifunction and new products, we will try to increase sales again, Canon president and CEO Kensaku Konishi said.
RK Global eyes infra, insurance foray
Financial services provider RK Global on Sunday said it plans to diversify its business by foraying into the infrastructure and insurance space in the next two years. We are planning to move in to the infrastructure business by 2013... We are also targeting to enter in insurance business by the next year," RK Global Director Sushil Kumar Dhancholia said.