The Telegraph
Since 1st March, 1999
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Corporate Briefs

Novelis selloff plan

US-based aluminium sheet maker Novelis is talking to various players for a possible selloff. Birla group firm Hindalco is also mulling to take over the company, but Novelis declined to divulge any information about the bid. There was no confirmation from the Birla group also about its interest in Novelis, which was formed after a demerger from Canada-based aluminium company Alcan in 2004.

Hutch scheme

Hutch has launched simplified tariffs for international roaming, which classifies countries into eight zones with uniform tariffs across all operators in all the countries in a zone. Incoming SMSs will be free across all zones.


Ashapura Minechem Ltd’s net profit in the quarter ended December 31 was Rs 33.41 crore against Rs 22.86 crore a year ago. Turnover was Rs 215.71 crore in the quarter compared with Rs 178.36 crore in the same quarter of the previous fiscal.

Khaitan net

Khaitan Electricals Ltd’s net profit in the quarter ended December 31 was Rs 1.63 crore against Rs 1.07 crore in the corresponding quarter of the previous fiscal. Net sales were Rs 67.12 crore compared with Rs 40 crore a year ago. The company’s turnover for the nine months ended December 31 was Rs 185 crore.

Cosmos Bank

Cosmos Cooperative Bank Ltd (Cosmos Bank) has chosen Huawei-3Com as its partner for its core switching and wide-area network to connect 69 branches to provide value-added services to its customers on a real-time basis.

Reliance Tele

Reliance Telecom has launched its services in Mizoram. Reliance GSM also targets to cover around 5,000 towns in the coming months. The company will invest $2.5 billion in the mobile infrastructure in the coming years.

Intex move

Intex Technologies has introduced two home theatre models, Sensation 51130 and Sensation 51125 Wooden. The first model comes at Rs 13,500 and the second one at Rs 12,500.


Woodland has launched a denim range that includes jackets, trousers and waistcoats. The jackets are priced between Rs 3,295 and Rs 4,995, the trousers between Rs 1,495 and Rs 2,995 and the waistcoats are priced at Rs 2,495.


Manaksia Ltd proposes to expand its steel cold-rolling mill and upgrade technology at the speciality alloy manufacturing plants at Haldia. The company plans to tap the capital markets to raise Rs 115.5 crore to fund the purchase of machinery as part of this drive.

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