Samsung India is targeting a business of around Rs 850 crore during the festive period and is slated to give gifts worth Rs 30 crore. It expects Rs 124 crore worth of business from the eastern region. The company’s combined turnover was Rs 6,300 crore and it aims at a 20 per cent growth this calendar year. Samsung India’s digital business is expected to have a significant contribution to the company’s audio visual business and revenues are expected to go up to Rs 140 crore this fiscal from Rs 82 crore a year ago.
Uttam Galva Steels (UGSL) is tripling its auto grade cold rolled capacity to 180,000 tonnes from 60,000 tonnes per annum. The capacity increase is scheduled to be completed in 2 phases. The first phase will increase the company’s capacity to 120,000 tonnes per annum. The entire expansion process will be completed by mid 2007.
Hewlett Packard India has achieved a 37.1 per cent market share in the notebook segment in the second quarter of 2006, according to IDC’s Asia/Pacific Quarterly PC Tracker. The company’s market share in the total desktop segment was 16.6 per cent by volume.
AurionPro Solutions Ltd has acquired San Fransisco-based Coban Corporation in an all-cash deal. Coban provides enterprise web technologies and enterprise integration technologies to Fortune 1000 clients focusing on the web portal and enterprise management space. AurionPro is expected to have paid about $1 million for the acquisition.
Tata Power’s Rs 500-crore short term debt programme has received a P1+ rating from Crisil. The rating indicates that the degree of safety regarding timely payment of interest and principal on the instrument is “very strong”.
Soma Enterprise Ltd has completed a Rs 116.2-crore Maddur-Mysore state highway project. The road links Bangalore to Mysore. Soma had received the contract from Karnataka Road Development Corporation Ltd.
Haier Appliances India is planning to invest in the Indian markets in the coming months, increase dealer counter share and improve after-sales services.
Deepak Fertilisers and Petrochemicals Corporation Ltd has completed its iso-propyl alcohol plant at Taloja within its targeted investment of Rs 154 crore.
Bank of Rajasthan (BoR) has entered into an ATM-sharing arrangement with the State Bank of India (SBI). The arrangement will give BoR customers access to over 5,500 SBI ATMs.
