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Corporate Briefs

Apollo online lottery

The Apollo Group has launched the Lottus brand of online lotteries with licence from the Arunachal Pradesh government. The games will be launched in seven states from September in the first phase. “We have planned an investment of Rs 250 crore over three years and expect to generate revenues of around Rs 2500 crore during the same period,” said joint managing director of Apollo International Raaja Kanwar. Lottus will be available through 1000 terminals across the 14 lottery-playing states. The network will be expanded to 5000 outlets by March next year. West Bengal will start with 100 outlets, which will be increased to 200 by December and 500 by March.

Simplex rating

Credit Analysis & Research Ltd (CARE) has assigned PR1+ grading to Simplex Concrete Piles Ltd. This is the highest rating for short-term instrument by CARE.

Tata Motors feat

Tata Motors, the country’s only fully integrated company manufacturing passenger cars, commercial and utility vehicles, has crossed the production milestone of 3 million vehicles in the last week of August.

Chicken Bhujia

Fast Foods (Nepal) Pvt Ltd, an enterprise of the Chaudhary Group of Nepal, has launched MaMa Chicken Bhujia in packs of 10 gm at Re 1 each. Its flagship brand is Wai Wai noodles.

Siemens mobile

Siemens Information and Communication Mobile plans to launch its high-end technology phones like SL55, S55, CL50, M55 and SX1 smartphone in Calcutta. The A-55 phone is priced at Rs 4,800, M55 at Rs 10,390 and SL55 at Rs 25,850. The prices are not inclusive of taxes.

Bajaj Auto sales

Bajaj Auto Ltd has sold 76,487 units in August 2003, recording a 16.8 per cent growth in sales in the motorcycle segment over a year-ago period. The company has sold 19,601 units of three wheelers in August 2003 compared with 17,969 units in August 2002, registering a rise of 9 per cent.

Topsgroup

Topsgroup, the country’s leading security solutions provider, has become the first security company in southeast Asia to be accredited with an ISO 9001: 2000 certification for its performance and 99.7 per cent customer retention.

Tata Power

Power Grid Company of Bangladesh Ltd has awarded Tata Power Company a contractual agreement for the turnkey execution and commissioning of the 230 KV Ishurdi-Baghabari transmission line project in Bangladesh. The project is valued at $8.9 m and will be completed in 24 months.

APIDC-VCL fund

The biotechnology venture fund of APIDC Venture Capital Ltd (APDIC-VCL) has decided to invest around Rs 8.1 crore in three companies, Bioserve Biotechnologies, Genomik Design Pharmaceutical Pvt Ltd and Silico Insights.


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