Heavy duty 3-wheelers from Bajaj
Bajaj Auto will launch a heavy goods carrying three-wheeler in the third quarter this fiscal to cater to a growing market for such vehicles and to fight competition from companies such as Piaggio Vehicles and Bajaj Tempo. “We will be launching a big goods carrier by the third quarter. It will have a gross vehicle weight of around 750 kgs,” Bajaj Auto vice president (finance) Sanjiv Bajaj said. He said the new vehicle was expected to boost the company’s marketshare in the three-wheeled goods carriers segment where the local unit of Italian major Piaggio, a relatively new entrant, currently enjoys leadership.
Unit Trust of India has announced a 10 per cent dividend for Mastershare 86. The dividend shall be distributed to all unit holders whose names appear in the books as on October 12. The book closure is from October 12 to October 15. It has also announced an income distribution of Rs 2.50 per unit under the Unit Scheme for Charitable and Religious Trusts and Registered Societies. UTI has also said that the Monthly Income Plan 1997 (IV) is maturing on October 31 and the book closure under the plan is from October 23 to October 31 (both days inclusive).
Sun Microsystems and Infosys Technologies have announced a global strategic alliance to jointly market new generation technology solutions for meeting computing requirements for the banking industry. By combining forces, Sun and Infosys aim to offer banking customer an agile, scalable, proven solution that lowers total cost of ownership and acclerates time to market.
Visa International has developed a global payment specification that removes the need to physically insert a smart card into a reader.
Fitch Ratings India has downgraded the Rs 50-crore non-convertible debentures of Usha Beltron Ltd to A-(ind) from A(ind). The rating outlook is stable. The downgrade reflects the decline in the company’s profitability and increase in its debt, a release said.
The Haldia Dock Complex has handled an all-time record volume of rail-borne cargo of 1.16 million tonnes, in August 2002, compared with 0.94 million tonnes in August 2001.
IBM has won the award for best high-end servers in the notebook category in the PCQuest Users’ Choice 2002 award survey.
Swiss watchmaker Rado has opened its new outlet at Exclusive Lines, Camac Street in Calcutta, a release said.
Samsonite has reworked its retail strategy and is opening outlets in prime locations across the world. As part of this plan, it has opened a new outlet in Calcutta.