Gail, Dupont in talks

Gail (India) Ltd is in talks with Dupont for joint marketing of the high density poly-ethylene, the compound that saved over Rs 4 crore in coating cost for the Dahej-Vijaipur gas pipeline. Gail wants to sell the compound, developed at its Pata Petrochemical Complex in Uttar Pradesh, in international markets, particularly in Turkey, Iran and China.

AllBank pact

Allahabad Bank has entered into a bancassurance pact with ECGC Ltd, an export credit insurance company. Under the pact, the bank will market five insurance products for exporters. The bank has tied-up with Indian Institute of Technology, Delhi, to upgrade its IT infrastructure. IIT will offer consultancy services to the bank.

Uco Bank

Uco Bank has extended the deadline for the one-time settlement scheme till July 31 for eligible borrowers whose accounts had been declared non-performing assets (NPAs). The bank said the scheme covered all NPA accounts, irrespective of the nature of business, including those where action had been already initiated under the Securitisation Act, 2002.

Gillette net

Gillette India has recorded a 594 per cent rise in net profit in the financial year ended December 31, 2003, at Rs 44.82 crore against Rs 6.46 crore a year ago. It has announced a 35 per cent regular dividend and a one-time special dividend of 50 per cent, amounting to Rs 8.50 per share. The company has recorded a 25 per cent sales growth on continuing business.

HCL Info

HCL Infosystems has claimed that it has maintained the top position in the desktop PC segment for 2003. Quoting a report by IDC, the company said HCL leads the market ahead of two MNCs with a market share of 10.6 per cent in July-September 2003 and it also tops the total desktop PC sales garnering a market share of 9.2 per cent in 2003.

Baypackets

Baypackets Technologies, a domestic telecom software company, will invest about $30 million in its local operations in the next three years. Its engineering headcount at the Noida centre will rise to 225 in the next 12 months from the current 75.

Sahara tie-up

Sahara India has tied up with K Sera Sera and Varma Corp in a Rs 35-crore joint venture to produce 10 films in two-and-a-half years.

Ubics move

US-based Ubics, affiliated to the UB Group, plans to increase its headcount in India by adding 100 professionals in Delhi and Bangalore in the coming 12 to 24 months. “We currently have 50 people in our Delhi development centre and 15 in Bangalore for marketing and support,” president and CEO Robert C. Harbage said.

Amara Raja

Amara Raja Batteries, a leading player in storage batteries, has received Ford Q1 award for supplier quality. It has been supplying automotive batteries to Ford India for five years.