Enfield to be in the black soon
Riding on increasing sales of its ‘Electra’ model and various cost-cutting measures, Royal Enfield Motors said it would turn profitable this fiscal after posting losses for the past two years. The Eicher group company would also foray into motorcycle and riders’ accessories business even as it gradually rolls out the latest cruiser motorcycle ‘Thunderbird’ nationwide, Royal Enfield CEO Siddhartha Lal said. “We will post profits this fiscal on the back of growing sales of ‘Electra’. We are also launching the 350cc four- stroke ‘Thunderbird’ model countryide in a phased manner,” Lal said.
Gujarat Narmada Valley Fertilisers Company (GNFC) plans to increase the capacity of its formic acid plant to 12,705 metric tonnes per annum (MTA) from 10,500 MTA. It intends to meet formic acid demands by May 2003 with an investment of Rs 6 crore. Currently, 2000 MTA formic acid is being imported every year to meet the demand.
Infosys Technologies Limited had entered into an alliance with Kakawa Disount House, formed by a consortium of key banks in Nigeria. Kakawa Discount House would deploy Infosys’ finacle suite of solutions.
Icra has reaffirmed the highest safety rating for the Rs 15-crore non-convertible debenture (NCD) and the Rs 60-crore commercial paper (CP) programme of EI Dupont India Ltd. It has reaffirmed MAAA(SO) rating assigned to medium term NCD programme and A1+ rating assigned to commercial paper programme of Dupont, indicating highest safety, an Icra release said.
Fitch Ratings India has affirmed the AAA(ind)(SO) rating assigned to the senior PTCs issued under the securitization programme of Dewan Housing Finance Limited through RMBS 2002 Series 1 Trust. The rating indicates the lowest expectation of credit risk.
Tektronix has finalised acquisition to obtain Sony’s interest in its Japanese joint venture, Sony\Tektronix. The new company, now solely owned by Tektronix Inc, will conduct business as Tektronix Japan Ltd.
Yahoo! India has launched a service by which mobile users can use their own pictures to customise their handsets. This service is part of the Yahoo! for SMS offering (8243).
Calcutta-based Bharat Bhari Udyog Nigam Limited (BBUNL) has signed a memorandum of understanding with Malaysian company SMH Rail SDN.BHD for setting up of a wagon assembly unit in Kuala Lumpur.
Parryware has opened a regional distribution centre at Madhyamgram to cater to its dealers in south Bengal, a release said.