The Telegraph
Friday , April 9 , 2010
Since 1st March, 1999
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Corporate Briefs

HM in Bangla tie-up

CK Birla group company Hindustan Motors (HM) has tied up with Bangladesh conglomerate Intraco Group for distributing the CNG version of its mini- truck Winner in the neighbouring country. The two companies have entered into a distributorship agreement. A memorandum of understanding will be signed in Calcutta tomorrow, HM said in a statement.


Reliance Retail, which has a tie-up with UK-based toy retailer Hamleys, plans to open 20 stores across the country in the next seven years at an investment of Rs 150 crore. The toy market in India can be higher than Rs 1,500 crore, Reliance Retail president and chief executive (lifestyle) Bijou Kurien said.


Vodafone Essar has crossed the 100-million subscriber mark in India, becoming the third mobile operator in the country to do so after Bharti Airtel and Reliance Communications.

Essel initiative

The Essel group will invest about Rs 500 crore in the next five to seven years to expand its education portfolio, chairman Subhash Chandra said. The group will set up 300 schools, which will be a combination of group-owned and franchise models.

Magma move

US-headquartered Magma Design Automation has said it has five additional products in the pipeline and is looking to increase its head count by hiring 40-50 persons globally next fiscal, starting May.

Punj Lloyd

Punj Lloyd has won India’s largest solar-based EPC contract worth Rs 232 crore in Bihar. The solar water treatment plants, designed and built by Punj Lloyd, will resolve groundwater contamination, resulting in many types of diseases.

Aban contract

Offshore drilling and oil field services provider Aban Offshore has bagged a $159-million contract from Brunei Shell Petroleum Sendirian Berhad for the deployment of jack-up rigs.

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