New Delphi hub
Delphi-TVS, the auto-parts manufacturing joint venture between US-based Delphi and the Chennai-based TVS group, plans to expand its engineering capabilities by setting up a new technical centre at its existing facility in Mannur, near Chennai. All facilities will come under one-roof in the new centre, it said, adding that the proposed centre is expected to go on stream by 2006.
Uco Bank has computerised its 1,743 branches and 154 extension counters in 35 regions across the country. It will introduce core banking solutions in select branches in the next few months. Uco Bank had also entered into ATM sharing arrangements with the State Bank of India and Punjab National Bank.
Shrachi Securities Limited (SSL) has clocked a net profit of Rs 2.16 crore during the first quarter of the current financial year, registering a rise of 30 per cent over the same period previous year. Income from operations increased 43 per cent at Rs 6.98 crore compared with Rs 4.88 crore in the same period previous year.
America Online Inc (AOL), an interactive services provider, has expanded its presence in the wireless services sector by acquiring Wildseed Ltd, a leading provider of advanced wireless technologies. The terms of the deal were not disclosed.
Transport Corporation of India (TCI), an integrated logistics solution provider, has posted a 28.8 per cent rise in net profit at Rs 3.13 crore compared with Rs 2.43 crore in the corresponding period last year. The net sales increased 9.84 per cent to Rs 188.16 crore against Rs 171.31 crore in the year-ago period, a company release said.
Satnam Overseas Ltd has posted a 44 per cent increase in net profit at Rs 4.96 crore in the first quarter ended June 30. Its branded turnover increased 24.8 per cent to Rs 51.45 crore. The sales of branded foods division have jumped by 72 per cent to Rs 4.07 crore from Rs 2.36 crore.
AFL WiZ, the express division of AFL Private Ltd, has launched Rakhi Special ' a dedicated service to send a rakhi to any location in India. The sender can win prizes under the scheme. The rakhi will be picked up for free and will be delivered at a charge of Rs 60 for packets weighing up to 500 gm.
Asian CERC Information Technology Ltd, a solution provider for Internet-based trading, has reported a net profit of Rs 57.51 lakh for the quarter ended June 30 against Rs 6.67 lakh in the year-ago period. Income from operations rose nearly 200 per cent to Rs 2 crore from Rs 66.71 lakh in the previous year period.