The Telegraph
Since 1st March, 1999
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Corporate Briefs

Magic recharge coupons

Bharti Mobitel has introduced a Rs 350 recharge coupon for pre-paid Magic subscribers. One can avail of talktime worth Rs 263 that will be valid for 15 days. It has also announced another value-added proposition for Magic users by waiving the processing fee of Rs 220 and Rs 300 on the Rs 1,200 and Rs 2,000 recharge coupons, respectively. The offer will be valid for a limited period. The validity period of 60 days and 90 days, respectively remains the same. “We have also extended the validity period on the Rs 650 recharge coupons from 30 days to 45 days,” says chief operating officer Deepak Gulati.

ACC dispatches

ACC Ltd has recorded a 4.49 per cent rise in its cement despatches at 10.69 lakh tonnes for November 2002 compared with 10.23 lakh tonnes in the same month last fiscal. The cement production, however, was flat at 10.65 lakh tonnes last month, a company release said.

Ivega move

Bangalore-based software company, Ivega Corporation has announced its merger with Amoolya Technologies. As per the terms of agreement, Ivega will assume the support contracts of Amoolya’s customers and partners. All trained and skilled manpower will be absorbed into the company.

Canara arm

Canbank Factors Ltd, a subsidiary of Canara Bank, has reported a 8.61 per cent rise in net profit at Rs 4.54 crore for the half year ended September 30, 2002, compared with the corresponding period last year. It has achieved a factoring volume of Rs 568.16 crore for the period, a 30 per cent growth.

HPCL launch

Hindustan Petroleum Corporation Limited (HPCL) has launched its co-branded two-wheeler petrol engine oil in association with Kinetic Engineering Ltd. The oil, Kinetic Genuine Racer is available in two variants for 2-stroke and 4-stroke engines.

Reliance plan

Reliance Capital Mutual Fund will launch Reliance Short Term Fund on December 9 targeted at investors with short-term surpluses. The scheme would invest in short-term debt and money market instruments and does not have any provision to invest in equity related instruments. It would have no entry and exit load and will close for subscription on December 17.

Huawei Tech

Huawei Technologies has announced the signing of strategic agreements with NEC Corporation and Microsoft Corporation to set up joint labs in China.

Wipro Infotech

Wipro Infotech has received the gold certification from Cisco Limited, for “relentless pursuit of customer satisfaction, training, support and specialisation requirements” set by Cisco.

Mount Shivalik

The Mount Shivalik group will invest about Rs 40 crore for setting up a brewery in Bihar for producing its Thunderbolt brand of beer.

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