Ingersoll stake in Srei arm
Ingersoll Rand (India), a leading infrastructure equipment manufacturer, will pick up 3 per cent equity in Srei Group company Indian Infrastructure Equipment (IIEL) for Rs 2.25 crore. IIEL is planning to raise Rs 40-50 crore from markets this year to deploy equipment and open yards in Mumbai and Hyderabad to give a push to the construction sector rental business.
DHL Express has launched its ‘fast forward’ services to increase efficiency and save delivery cost for Indian importers and exporters. “The service will facilitate shipments weighing 20 kg and above with a wide range of innovative and flexible door-to-door solutions to assist customers to manage their factory-to-customer logistics chain,” DHL India country manager Chris Callen said.
ICICI Pru tie-up
ICICI Prudential Life Insurance, a private life insurer, has tied up with Goa State Co-operative Bank, Jalgaon People’s Co-operative Bank, Indoor Paraspar Sahakari Bank and Manipal State Co-operative Bank for bancassurance.
Glen India, a home appliances firm, has launched matt-finish stainless steel cook-tops called Platinum.
Tata Motors has reported sales of 28,302 vehicles in September, registering an increase of 49.8 per cent over 18,885 in the year-ago period. Sales volumes rose 44.5 per cent in the first six months of the current financial year to 1,38,522 units from 95,876 in the year-ago period.
The UB spirits division has introduced Shotz, a low alcoholic vodka-based carbonated drink, in Calcutta. It is available in lime, orange, apple, peach and ice flavours.
Bajaj Tempo Ltd has entered into a technical collaboration with Germany-based MAN, a global truck and diesel engine firm, to mark its foray into medium and heavy commercial vehicles. The agreement involves expansion, modernisation and setting up of new facilities of Bajaj Tempo at an investment of around Rs 350 crore in the next couple of years.
Asia Netcom, a pan-Asian network services provider, has teamed with Sify Ltd to provide internet services in the country.
Power Finance Corporation Ltd has paid the government a dividend of Rs 235 crore for 2002-03. This is the highest dividend paid by the company so far.
The Nickledeon Dekho Prize Jeeto Contest has received 30,000 calls in a month, of which 1800 callers have won gadgets like hypnotiser, wonder wig and time machine.
Blackberrys has launched its khaki collection called Zico and Brisbane.