Duncans to focus on tea retail
Duncans Industries Limited, the flagship company of Duncan-Goenka group, will give more focus on retailing of tea to beat the current slump in the auction prices. By the end of the next financial year, nearly 50 per cent of the company’s own produce will be sold through the retail stores, which the company proposes to set up across the country, Duncan Industries chairman G. P. Goenka said. Currently, Duncans, under the brand name of Duncans Tea House, is selling four million kilograms of tea through retail outlets spread across Calcutta.
Canara Bank has started a nation-wide awareness campaign as part of Reserve Bank of India’s ‘clean note’ policy in order to mop up soiled and mutilated notes from circulation and mitigate hardship of the general public in getting coins. Canara Bank organised ‘coin melas’ at its select branches in Bangalore and other parts of the country.
Toyota Kirloskar Motor Ltd plans to set up a 100 per cent export-oriented ‘transmission’ line at Bidadi near Bangalore, for meeting its global requirements for Toyota cars. The Rs 360-crore unit will be commissioned sometime in 2004, deputy managing director K. K. Swamy said, while launching the ‘New Toyota’ in Chennai.
Hero Honda Motors said it was confident of achieving the sales target of 1.8 million motorcycles for this fiscal despite a downtrend in the domestic automobile market due to drought in various states.
BPL Communications has approached the department of telecommunications (DoT) for a three-month extension in the validity period of its letter of intent for international long distance services to early December. DoT sources said that the department has received a request from BPL for extension, and the request is currently being processed.
Tata Consultancy Services (TCS)has announced the setting up of a global delivery centre for AT&T Wireless at its Tidel Park facility, Chennai.
IBM has launched the POWER4-based eServer p630. The IBM eServer p630 provides organisations with an affordable server equipped with the performance and reliability features needed in running a business.
Bharat Heavy Electricals Ltd (Bhel) has bagged a Rs 190-crore order for centrifugal compressors from Gas Authority of India Ltd for their HBJ pipeline upgradation project. The compressor package will be installed at Gail’s booster station at Vijaipur in Madhya Pradesh for boosting supply of LNG through the HBJ pipeline.
Sun F&C Mutual Fund has declared a dividend of 0.090326 per cent (or Re 0.0090326 per unit on a face value of Rs 10) under the daily dividend plan for the week ended September 5.