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ONGC BAGS BML MUNJAL AWARD FOR 'EXCELLENCE IN LEARNING AND DEVELOPMENT' Thesynergyonline Corporate Bureau
NEW
DELHI, MARCH 12 : The 5th BML Munjal Award for Learning and Development for the year 2010 was given to ONGC was for its uniqueness and in-house capabilities in the oil and gas business. The citation summed up the essence of the award… For the Financial Year ending March 2009 the total dividend payment made by the organization was excellent. There was a rise in both value and revenue per employee. Thanks to the well structured and learning interventions that contributed to this picture. Speaking on the occasion, Mr. Sharma mentioned that "It is indeed an honor and privilege to receive this very prestigious award with pride and humility. For ONGC to get this award is indeed a privilege. The icing on the cake however is getting it from none other than The Hon'ble Minister for Human Resource & Development, Mr. Kapil Sibal". The acclaimed BML Munjal Awards, one of the biggest draws of the Mindmine Summit, honours India's finest organizations, which have made momentous contributions in the arena of human capital development. The eminent jury members included Mr. Deepak Parekh, HDFC - Chairman, Mr. Ajay Shriram, DCM Shriram Consolidated Limited, Dr. Anand C. Burman, Dabur, Ms. Shobhana Bhartia, The Hindustan Times Group and many more. What impressed the jury was the content of the efforts. An employee engagement survey was carried out by ONGC which helped in analyzing the synergy between the skills and styles of the human resources staff, mind managers, top managers, human resources boards and strategies. In recognition of these characteristics of learning and development processes at ONGC and due observance of the pre-designed processes of evaluating the candidature of different organizations, the jury conferred the 5th BML Munjal award on learning and development to ONGC. The Annual BML Munjal Awards for Excellence in Learning and Development were conceived five years ago to address the "people gap", and have now been established as an industry benchmark. These awards track companies who've invested in people, and benefited from it. They are given to companies that have consistently used training, learning and development as a source of competitive advantage and as a strategy for their business. (editor@thesynergyonline.com) .
Thersynergyonline Corporate Bureau
NEW
DELHI, MARCH 12 : The Global Green Company is the foods division of the US$ 4 billion Avantha Group, and is the sunrise companies within the Avantha Group's investment portfolio. Global Green cultivates, processes and markets gherkins, jalapeños, pearl onions, capers, peppers, sweet and sour cherries, and sweet corn. The company has its customer base in 50 countries around the world and already is at US$ 150 million sales turnover. Global Green has rapidly grown to one of the largest suppliers of processed fruits and vegetables out of India, with processing facilities in India, Hungary, Belgium and an associated facility in Turkey. The Avantha Group is one of India's leading business conglomerates. The Avantha Group has business interests in diverse areas, including pulp and paper, power transmission and distribution equipment and services, food processing, farm forestry, chemicals, energy, infrastructure, information technology (IT) and IT-enabled services. With an impressive global footprint, the Avantha Group operates in more than 10 countries with 20,000 employees of 20 nationalities. Mr. Gautam Thapar, Chairman & CEO, Avantha Group, commented, "The Global Green Company is amongst India's pioneering leaders in the agribusiness, with expertise and control over the entire value chain - from sourcing and processing to exports and retail. This partnership with Rabo will give us the benefit of leveraging on the experience and resources of the team led by Rajesh, who is so well entrenched in the food and agri space." India Agri Business Fund is a US$ 120 million Private Equity Fund targeted at expansion/growth of Indian food and agribusiness companies. It is sponsored by Rabobank with IFC, FMO, DEG and CDC Group being the other investors. Additionally, Capvent AG and affiliates have committed US$ 20 million recently to the unique sector Fund. Rabobank also has a majority shareholding in the management and advisory companies, while the Fund has a long term "Knowledge Sharing Agreement" with Rabobank. The investment advisor, Rabo Equity Advisors, has a strong professional team lead by Mr. Rajesh Srivastava, an experienced corporate/investment banker with over 29 years of track record, including 12 years in Rabobank. According to Mr. Rajesh Srivastava, Chairman & Managing Director, Rabo Equity Advisors, "I have worked with the Avantha Group across companies and found it extremely receptive to great business ideas. Global Green is a very potential company and Mr. Thapar's personal commitment to the business is what clinched our decision. We have big plans for the company across sectors and geographies where my investors as well as the team will majorly add value." Mr. Sipko Schat, Member of the Executive Board of Rabobank commented, "Rabobank is fully committed to food and agribusiness in India and this significant investment by our sponsored Fund is a step towards strengthening this commitment. The company is promoted by a highly successful promoter, Mr. Thapar, and we would like to back the project fully." This is the first investment by India Agri Business Fund in the calendar year 2010 which is the first fund of its kind in Asia. The Fund has already invested in Geepee Agri Private Limited (edible oils), Sri Biotech Laboratories (agri inputs) as well as LT Foods and Daawat (both in the rice sector). (editor@thesynergyonline.com) . TAG
HEUER CHOOSES IC-AGENCY FOR ITS SOCIAL MEDIA STRATEGY Thesynergyonline Corporate Bureau GENEVA
– La Chaux de Fonds, MARCH 11 : The goal is to offer TAG Heuer, owned by LVMH Moët Hennessy - Louis Vuitton, online visibility that corresponds to the importance of this anniversary and partnership with Tesla. Details of this venture between the two brands will be unveiled at Baselworld. “We have chosen IC-Agency for their sharp social media skills, as well as the pragmatism of their approach” indicates Françoise Bezzola, Director of Communication for TAG Heuer. The custom methodology created by IC-Agency for TAG Heuer will be launched, most notably, on Facebook: “Analysis by IC-Agency has confirmed that tens of thousands of watch fans, and TAG Heuer aficionados in particular, are active on Facebook and are more than willing to interact with our brand, especially through our Facebook Fan Page: http://www.facebook.com/TAGHeuer” says Françoise Bezzola. “We have to realize that 220 million people connect to Facebook every day and that Facebook is the most downloaded app on the iPhone. This site has become as ubiquitous as Google” indicates David Sadigh, Managing Partner at IC-Agency – and adds “With our studies, we were able to map out the way an exclusive brand can secure its position in the open environment that is social media. It’s the fruits of our research in Luxury Digital Marketing that we will place at TAG Heuer and Tesla’s disposal to create the digital conversation.” TAG Heuer, who already works with IC-Agency, notably for their search engine optimization strategy, was lauded in 2009 and qualified as “Genius” for its excellence in Digital Marketing in a study by New-York Stern University. The first results of this collaboration will be present during Baselworld and will allow the brand to reinforce its leadership online. (editor@thesynergyonline.com) . IL& FS TRANSPORTATION IPO OPENS ; PRICE BAND FIXED AT RS 242 - RS 258 Thesynergyonline Corporate Bureau
The
issue consists of a fresh issue of equity shares by the company and an offer for
sale of 4,278,844 equity shares by Trinity Capital (Two) . The issue closes on
March For the first half year ended September 30, 2009 the company's net profit after tax (PAT) stands at Rs 1,143.49.million and for the year ended March 31, 2009 at Rs 420.69 million as against Rs 765.36 million for the year ended March 31, 2008. According to Mr K Ramchand , Managing Director of IL & FS Transportation Network, the proceeds of the issue will be utilized primarily to fund pre-payment and repayment of portion of debt availed by the company and general corporate purposes. (editor@thesynergyonline.com) . NMDC FPO OPENS TODAY ; FIXES PRICE BAND AT RS 300-RS 350 Thesynergyonline Corporate Bureau NEW
DELHI, MARCH 09 : The selling shareholder, in consultation with the book running lead managers, has fixed the price band between Rs. 300 and Rs. 350 per equity share for the FPO, which comprises a net offer to the public of 330,500,000 equity shares of face value Re. 1 each and a reservation of 1,743,200 equity shares for the purchase by eligible employees . The offer shall constitute upto 8.38 percent of the post offer paid-up equity share capital of the company. The minimum bid lot is 20 equity shares. A
discount of 5 percent to the offer price determined shall be offered to retail
individual bidders and eligible employees . The excess amount paid at the time
of bidding shall be refunded to the retail individual bidders and eligible employees.
Up to 50% of the Net Offer of the FPO will be available for allocation on a proportionate
basis to qualified institutional buyers ('\QIB portion'). 5 percent of the QIB
Portion shall be available for allocation on a proportionate basis to mutual The remainder of the QIB Portion shall be available for allocation on a proportionate basis to QIBs and mutual funds. Further, not less than 15 percent of the net offer will be available for allocation on a proportionate basis to non-institutional bidders. Further, not less than 35 percent of the net offer will be available for allocation on a proportionate basis to retail individual bidders. Further, 1,743,200 equity shares shall be made available for allocation on aproportionate basis to the eligible employees. Any bidder (other than QIBs) may participate in this offer through the ASBA process by providing the details of their respective bank accounts in which the corresponding bid amounts will be blocked by self cerrtified syndicate banks . According to Mr Rana Som, Chairman and Managing Director of NMDC , the offer for sale of 332,243,200 equity shares by the GoI represents 8.38% of the outstanding equity share capital of the company as part of the GoI decision to to divest part of its shareholding in the company. for capital investment in the social sector. The company will not get proceeds of the offer and all the proceeds shall be received by the selilng shareholder. The
BRLMs of the FPO are UBS Securities India , Citigroup Global Markets India , Edelweiss
Capital , Kotak Mahindra Capital Company , The
offer shares are already listed on the BSE, the NSE, the BSEL, the MSE, the CSE
and the DSE. BSE is the designated stock exchange for the offer. (editor@thesynergyonline.com)
.
PATEL ENGINEERING GETS GOVT NOD FOR COAL LINKAGE OF THERMAL PROJECTS Thesynergyonline
Corporate Bureau NEW
DELHI, MARCH 09 : The company has got the much-needed coal linkage for its proposed thermal power projects to be implemented by its wholly- owned subsidiaries. The much-awaited coal linkage has been approved by the Government of India under the 11th Plan Period and the coal deliveries are expected by 24 month from now. Mr. Rupen Patel, Managing Director, Patel Engineering , said “We have achieved yet another important milestone for our thermal power project. This coal linkage allotment from GoI is the last for the 11th Plan period as the Ministry of Coal is now accepting applications for coal linkage only for 12th Plan period where in the linkage is subject to availability, which is uncertain.” The
land acquisition for the company’s Tamil Nadu project is completed. Most
of the statutory clearances viz environmental, TNMB permission for Seawater drawl,
NOC from Airport Authority of India for stack height are in place. The financial
closure for the said project will happen by end of third quarter 2010- 2011. (editor@thesynergyonline.com)
. SAHARA MUTUAL FUND PAYS 40% TAX FREE DIVIDEND UNDER SAHARA TAX GAIN FUND Thesynergyonline Corporate Bureau NEW
DELHI, MARCH 08 : All
such investors under dividend option of Sahara Tax Gain Fund whose name appear
in the register of the unit holder’s book as on the record date, would be
eligible for dividend. Announcing
the dividend, Mr. Naresh Kumar Garg, Chief Executive Officer, Sahara Mutual Fund
mentioned that the Sahara Tax Gain Fund has given consistent and superior performance
to its investors since its inception. The investors in this Fund have got handsome
returns besides the tax benefits. Considering the high growth trajectory of the
Indian GDP, the investors may reap attractive investment returns through investment
in Sahara Tax Gain Fund. Sahara Tax Gain Fund is an open ended Equity Linked Saving Scheme (ELSS) that not only helps one save tax under section 80C of the Income Tax Act, 1961 but also has the potential of long-term growth through investments in equities. The
investment style of the Fund is to capture this growth in its portfolio by the
judicious selection of stocks with the prime objective of creating value for our
investors. The portfolio is well diversified having an optimum number of quality
stocks to maintain a medium risk level. NAV of Sahara Tax Gain Fund (Dividend
Option) as on 05.03.10 was Rs.18.1819. The
scheme also has the facility of SIP (Systematic Investment Plan) offered to its
investors to counter volatility and invest regularly to benefit from the growth.
(editor@thesynergyonline.com)
. DQ ENTERETAINMENT IPO OPENS ON MARCH 8 ; PRICE BAND FIXED AT RS 75-RS 80 Thesynergyonline Corporate Bureau NEW
DELHI, MARCH 05 : The
issue shall be open from March 8, 2010 to March 10, 2010. The price band for the
issue has been fixed at Rs 75 (at the lower end of the price band) - Rs 80 (at
the higher end of the price band) per equity share of Rs. 10 each. The price band
has been arrived at in consultation with SBI Capital Markets , the Book Running
Lead Manager . The issue shall constitute 20.24 percent of the fully diluted post
issue paid-up equity share capital of the company. The
company proposes to utilise the net proceeds of the Issue to part- finance investment
in co-productions, focusing on IP content creation, development of office
premises and production facilities; development of infrastructure and additional
facilities at the SEZ Unit, Kokapet Village, Rangareddy District, Andhra Pradesh,
investment in our subsidiary, DQ Entertainment(Ireland) Limited and general corporate
purposes. The company's equity shares are proposed to be listed on Bombay Stock
Exchange . The
company has completed a pre-IPO placement for Rs. 25.69 crore through a placement
of 3,772,771 equity shares of Rs. 10 each, representing approximately 5.97 percent
of the pre-issue share capital of the company, with IDFC Investment Advisors and
other corporate and high net worth individuals. The company's profit after tax before extraordinary items for the half year ended September 30, 2009 stands at Rs 103.31 million and for the year ended March 31 , 2009 at Rs 161.50 million. The profit after tax and extraordinary items for the half ended September 30, 2009 is Rs 102.57 million and for the year ended March 31,, 2009 it is Rs 160.85 million. (editor@thesynergyonline.com) MJUNCTION MEET ON INNOVATIVE PROCUREMENT PRACTICES OF STEEL UNITS Thesynergyonline Corporate Bureau
Text Box: Key sessions of the Conference • Strategic partnership initiatives in procurement • Sourcing from China-Challenges and Enablers • Criticality versus annual buy – different models of handling purchase • Outsourcing the procurement of indirect buys- Benefits & Challenges • Effectiveness of eProcurement in steel plants • Strategic Sourcing for the steel industry. The conference is aimed at addressing the procurement challenges faced by the steel industry and the strategies employed to overcome them. The forum will witness industry leaders discuss on various innovation of procurement practices, especially those evolved within the industry in the time of economic downturn and draw out action plans which can re-engineer the entire purchase function of the steel industry. The Conference will also act as a platform to make and strengthen the bond between procurement managers and their pool of vendors thereby discovering the ‘Buyer-Seller Synergy’. The conference becomes significant since operational buying for a steel plant is extremely challenging as inputs required at different processes involve different purchase strategies. The criticality of the material to be bought adds up to the huge task and even identification of critical buying items for producing steel and suitable allocation of resources is the need of the hour, which the conference will aim to address. Moreover, project procurement for steel production facilities which also throws up huge challenges in terms of high initial investment requirement and lack of coordination between consultants, buyers and vendors is also slated to become an important focus area for discussion during the conference. Mr. Viresh Oberoi, Managing Director, mjunction services limited comments, “Material cost accounts for over 50 per cent of the total cost of production of steel. Given this fact, I am optimistic that our conference will act as a vital platform to discuss on ways of practicing innovative procurement practices to bring in efficient functioning of material management for the steel industry and thereby reduce production cost.”
‘Procurement in Steel Industry’ is organized by mjunctionedge- the content and conference division of mjunction which is now synonymous for organizing such exchange platforms on diverse subjects ranging from coal, steel, non-ferrous metals, minerals, sourcing and logistics. mjunctionedge also publishes three magazines “Coal Insights” “Steel Insights” and “Sourcing Insights” catering to the three primary segments it serves. These magazines are available in digital versions and of three “Coal Insights” and “Steel Insights” are also published in Hindi language, mjunctionedge also publishes two high-end reports, namely the Indian Coal Market Watch (ICMW) and Weekly Commodity Report (WCR). Each
of these publications serves to keep its readers abreast of the latest news and
developments in the concerned industry and provides them with valuable research
of the market trends. The continually increasing readership and advertiser base
of the magazines bears evidence to their popularity and richness of content. (editor@thesynergyonline.com) BHEL
BAGS RS 5,778-CRORE ORDER FROM ELENA POWER Thesynergyonline Corpporate Bureau NEW
DELHI, MARCH 02 : Thesynergyonline
Corporate Bureau MUMBAI,
MARCH 02 : SphereOptics based in New Hampshire, USA, manufactures and distributes precision products for use in light metrology applications. The company's standard and custom radiometric and photometric products address the specific needs of the aerospace, automotive, electronic imaging, laser diode, LED, lighting, medical imaging and optics industries. Also based in New Hampshire, Labsphere has a strong worldwide presence in light testing and measurement and optical coatings. The company's products include LED, laser and traditional light source light measurement systems; uniform light sources for imaging device calibration; spectroscopy accessories; and high diffuse reflectance materials and coatings for applications in backlit panel displays, computed radiography, and system calibration. "The
reunion of two industry leaders, Labsphere and SphereOptics, will provide our
customers with innovative, high quality products, world class technical expertise
and unequalled customer service," commented Labsphere President Kevin Chittim. (editor@thesynergyonline.com)
Thesynergyonline
Corporate Bureau NEW
DELHI, MARCH 02 : With
its offerings, Venera is ready to play key role in increasing operational efficiency
of the content quality analysis process of the broadcast industry. Venera is the
only Indian company to offer such high end products for content quality assurance
to global broadcasters, content providers and service providers. Venera was started by first generation entrepreneurs from IIT and ISI with a vision to create a global trendsetting organization renowned for its quality and innovation. It was
among the first few companies globally to start research and development in H264
video test and measurement (T&M). Since its inception, Venera has created
a wealth of intellectual property in video analysis, compression and communications.
Venera now offers video T&M solutions for broadcast industry and video collaboration
solutions for remote training and conferencing. By this strategic investment in Venera, Valuable Group now has access to some high end video processing and analysis technology which will aid it in its Movie and Entertainment business. (editor@thesynergyonline.com) Thesynergyonline Corporate Bureau
NEW
DELHI, FEB 27 : Mr Pranab Mukherjee, Finance Minister handed over the award to Mr R S Sharma, CMD ONGC at the inaugural session of the FICCI Annual General Meeting at New Delhi today. This award, instituted in 1967, follows a unique, systematic and rigorous three tier selection process and the final selection is made by a special Jury of eminent persons drawn from the Corporate and Social sphere. Mr Justice P. N. Bhagwati, Former Chief Justice of India has headed the Jury for selection of award for the year 2008-2009.
ONGC has seamlessly integrated sustainable development into its Corporate Mission through triple bottom-line approach as reflected in its vision to become carbon neutral steered by its policy on Climate Change and Sustainability. Besides its commitment to protect environment and reducing carbon foot-print, it has a well structured CSR program contributing towards inclusive growth of the society.(editor@thesynergyonline.com) NEC
STARTS MIDDLE EAST OPERATIONS THROUGH INDIA Thesynergyonline
Corporate Bureau NEW
DELHI, FEB 25 : NEC
has an established presence in India and is aggressively targeting verticals like
education, hospitality, enterprise, biometric security and other growth segments
through its products & solution suite comprising projectors, commercial display
units, EPBX, IP Telephony, Point of Sale NEC
being the leading retail solutions provider in Japan, supports close to 15,000
locally- and globally-linked retail stores across various industries globally
including Southeast Asia, US, China, and Japan. Takashige Mouri, Associate Vice President, NEC Corporation, said, "NEC has immense experience in implementing retail solutions for local and global retailers across vast geographical range. We are confident that through our established partner HMH, the retail and hospitality industries in the Middle East region will find our solutions user-friendly and convenient, and benefit from our expertise in managing their retail operations from the frontend to backend." Middle
East being a market hub for Eastern and Western Europe, North Africa and India,
is fast evolving and has become a significant market for NEC. The quality and
technology-conscious region is also recovering fast from the global slowdown and
is experiencing a good year-on-year GDP growth. It is thus timely that NEC brings
its latest retail point-of-sale (POS) solutions to the retailers in the thriving
retail industry in the Middle East region. David Arambhan, Country Head - Retail, NEC India, said, "Middle East has emerged as a key market for retailers across the world. Driven by changing market dynamics and rapid economic transformation, the region is witnessing rapid changes in the retail industry. Keeping in mind the growth in the industry, NEC, with its cutting edge technologies and innovative solutions, is well positioned to cater to the needs of the retail sector in Middle East." (editor@thesynergyonline.com) PRITHVI TO CLOSE RS 200- CRORE DEALS A YEAR IN INFRA SERVICES SPACE Thesynergyonline Corporate Bureau NEW
DELHI, FEB 24 : The
company specializes in offering various services like Visualisation and Consolidation,
Managed services, Sercurity (IAM), Data Centre Design and Build services, data
centre command centre services, remote transfer management and the likes. The
company has partnered with IBM, Computer Associates, 3Com and all the other major
OEMs in the infrastructure service space. With its current order book at Rs. 50
crore it has varied clientele ranging from the Defense Services, State government
of Nagaland, Delhi International Airport to CDOT in its kitty. The
federal and state governments have taken initiatives to bring their services to
the citizens. As part of this exercise establishment of IT infrastructure has
been given a major push. Encouraged with the government initiatives, the infrastructure
services practice in India has aggressively started pursuing projects in the last
six months. Commenting
on the fast paced growth, the head of IT services said, "The future for Prithvi
in this sector is extremely bullish. We expect to close deals woth Rs. 200 crores
in the next one year". (editor@thesynergyonline.com) BHEL
WINS TOP HONOURS FOR RECRUTMENT PRACTICES Thesynergyonline Corporate Bureau NEW
DELHI, FEB 22 : The
Recruitment & Staffing Best in Class (RASBIC) awards are presented annually
by the World HRD Congress - a caucus of 100 countries worldwide including the
USA, UK, Canada, China, Japan, Germany and France. The
top honours for 'Recruitment & Staffing Industry Leader of the Year' and 'Most
Innovative Recruiting & Staffing Programme' have been awarded to the Tiruchirappalli
Unit of BHEL. Significantly, BHEL bagged awards in both the categories for which
it had submitted entries. This
year, entries for the RASBIC awards were submitted by over 150 Indian companies
cutting across business sectors and the winners were selected through a three-stage
selection process involving successive screening and evaluation by an Academic
Council and a Professional Council comprising eminent HR practitioners, followed
by a live presentation and interaction with the Awards Jury. BHEL
has figured in in the awards list this year which includes companies like Infosys,
TCS and Dr Reddy's Labs. BHEL submitted entries for the RASBIC awards for the
very first time this year and emerged successful in both categories in which it
competed. The
'Recruiting & Staffing Industry Leader of the Year' award was decided on the
basis of the strategic role played by the leader, how the recruiting process is
driven and integrated throughout the organization, demonstrated employee commitment,
vision for the future, team alignment and innovation while the 'Most Innovative
Recruiting & Staffing Program or Initiative' award assessed the company's
performance in terms of creative problem solving, innovation, employment brand
strength and return on investment. Leading HR practitioners and experts from several countries including management experts from leading international institutions including the London and Harvard Business Schools presented papers and participated in the workshops and panel discussions organized as part of the World HRD Congress 2010 on the theme 'The new HR challenge - innovative talent strategies for tough times.' (editor@thesynergyonline.com) PERCEPT NAMED EXCLUSIVE MARKETING AGENT OF IBF FOR 4 YEARS Thesynergyonline
Corporate Bureau NEW
DELHI, FEB 19 : As
the game of boxing is full of energy and adrenaline rush it was apt for XXX to
associate with it. Like the game of boxing XXX also stands for extreme energy
and tremendous excitement. The
brand is a creation of Mr. Sachin Joshi, Vice Chairman, GT&T . a part of JMJ
group, a 1000 crore company that is into diverse businesses. The conference had
Mr. Chautala, President, IBF, Mr. Sachiin Joshi, Vice Chairman, GT&T, Col
PK Muralidharan Raja, Secretary General, IBF and Mr. Shailendra Singh, Joint MD,
Percept addressing the media about the various aspects of their association from
a unique boxing ring shaped dais. To
congratulate and appreciate the participation and support of XXX & Percept
to IBF Indian boxers like Vijender Singh, Akhil Kumar, Dinesh Kumar, Nanao Singh,
Suranjay Singh made a dramatic entry to the conference wearing boxing hoods and
gloves. This spectacular event had 2 hostesses hitting the gong before each one
on the dais spoke. In a spectacular extravaganza the conference replicated the
ambience of a boxing ring making it a unique event to remember. The 5th Commonwealth Boxing Championships will be held at Talkatora Stadium, New Delhi from March 10-18, 2010. This Championship will see approx 140 boxers and 130 bouts from 17 Countries. All major Commonwealth boxing nations like England, Wales, Scotland, Ireland, South Africa, Pakistan, Sri Lanka, Malaysia, Bangladesh, Mauritius, Kenya, Samoa, Singapore, Canada (TBC) and India will be participating in this championship. Large number of boxers in the top 20 World rankings will be competing with each other. Indian boxing heroes such as Vijender Singh, Akhil Kumar, Dinesh Kumar, Nanao Singh, Suranjay Singh etc will be contending for India. Percept was yesterday appointed as the Exclusive Marketing Agent for Indian Boxing Federation for 4 years i.e. till 2014 and they kick started their association by roping in XXX Energy Drink for this popular championship. As a marketing partner Percept Ltd will be primarily responsible to promote Indian Boxing talents. They
will also promote the Indian Series of Boxing which would take off after the World
Series of Boxing scheduled this year. Besides, it will also play an integral part
in bringing bilateral, tri-nation and other international boxing events to India. Mr.
Sachiin Joshi, Vice Chairman, GT&T quoted, "Today is a very important
day for us, we are very excited to associate ourselves with an International Event
of this stature. Recently boxing as a sport has made our entire country very proud
when we brought home medals contending with the best talents worldwide. Our company
has always been patronizing sports and strongly believe that India can be a great
sporting nation if it is given the right support and encouragement. We are extremely
confident that we have the requisite talent and Indian Boxing is all geared up
to win many more international and national titles." Mr.
Chautala, president, Indian Boxing Federation said, "Commonwealth Boxing
Championship is a very prestigious event to be held first time in our country
after the 2006 Women's World Championships. It indeed is very commendable of XXX
Energy Drink and Percept to come forward and support us. We are certain that with
their assistance and patronage we will be able to take this sport to every nook
and corner of this country and will witness more youngsters taking up boxing as
a career". On this occasion Mr. Shailendra Singh, Joint Managing Director, Percept , said "In India, sports still takes a back seat and does not get the needed recognition and applause. It's good to see XXX Energy Drink take keen interest in supporting and partnering with Commonwealth Boxing Championship." "We
need corporates to support sports like boxing that will help recognize and nurture
boxing talents from smaller towns. As the marketing agent of IBF we will go all
out to promote this sport in India and take it to another level by making it as
popular as cricket or tennis." BHEL,
TOSHIBA SIGN MOU TO FLOAT JV FIRM FOR T & D BUSINESS IN INDIA Thesynergyonline
Corporate Bureau
BHARAT Heavy Electricals Limited (BHEL) and Toshiba Corporation, Japan have signed a memorandum of understanding (MoU) to explore the possibility of forming a joint venture company (JVC) to address transmission and distribution (T&D) business in India and other mutually agreed countries.
The
MoU was signed in the presence of Mr Vilasrao Deshmukh, Union Minister of Heavy
Industries and Public Enterprises, Government of India; Dr. Satyanarayana Dash,
Secretary, Department of Heavy Industry, Ministry of Heavy Industries & Public
Enterprises and other dignitaries, here today. Mr. B.P. Rao, Chairman and Managing
Director, BHEL and Mr. Hideo Kitamura, Corporate Executive Vice President, Toshiba
Corporation, signed the MoU. Directors
on the board of BHEL as well as other senior officials of the Ministry of Heavy
Industries & Public Enterprises, customers, BHEL and Toshiba Corporation,
were also present on the occasion. The
joint venture company of BHEL and Toshiba plans to undertake business of equipment
and projects in extra high voltage alternating current and Ultra High Voltage
Alternating Current range including 765kV transformers and reactors and Gas Insulated
Switchgear (GIS), in addition to other products and systems. The joint venture shall receive technologies for the equipment and systems from Toshiba and also BHEL including technology for 765kV, UHVAC and GIS. The JVC is contemplated to be a leading company for all high-tech products and projects including 765 kV systems and above. The joint venture shall bridge the gap in the present offerings from BHEL for 765 kV transmission systems and GIS, for which there is a huge and growing requirement in the country. (editor@thesynergyonline.com) 'SWEATING
FRAUD MANAGMENT ASSET' TO EXTRACT MAXIMUM REURNS ON INVESTMENTS Thesynergyonline Corporate Bureau NEW
DELHI, FEB 18 : At
this forum, Subex presented on 'Sweating the asset: How to get more from your
fraud management system'. Sharon Samuel, Business Consultant and Subject Matter Expert on Fraud Management for Europe, Middle East and Africa, at Subex, spoke on efficient use of fraud management investments for maximum impact. A considerable amount of effort is required to detect and manage fraud incidents. Therefore, one way to maximize the investment in your fraud detection capabilities is to look at the efficiency of your operations. Not everything that claims to be efficient might indeed be so; after all, efficiency is about maximizing output with the same level of input or minimizing input for a constant output level. Hence,
it is important to consider the performance of the fraud management solution,
ruling accuracy of fraud analysts and quantitatively measuring the performance
of the fraud management team to arrive at the 'actual' efficiency of the system.
Most CSPs ignore the 'people' aspect of fraud management, a key contributor to
its overall efficiency. "To
derive maximum benefits from a fraud management solution, one needs to 'sweat
it out' to perform to its maximum limits", said Sharon Samuel. Sweating
the fraud management solution aims at maximizing its return on investment by doing
more with what's available. For example, finding more fraud and finding it faster.
Perhaps managing non-subscriber related fraud and most importantly extending the
scope of the solution to include potentially unaddressed, high value areas of
internal fraud such as expense fraud, handset theft, internal telephony abuse,
etc. The same fraud management solution can be used to identify certain types of high level revenue assurance and credit risk management issues. The solution can even identify and detect unusual patterns caused by equipment or network related faults. Additionally,
it can offer third party fraud detection services to other service providers,
or corporate customers or consumers, delivering another value add to a CSP's service
offering. Sharon
sums it up by saying, "In an era of increasing pressure on margins, sweating
the fraud management asset can contribute and add a few more basis points to the
organization's profitability". (editor@thesynergyonline.com) BHEL PAYS 110% DIVIDEND FOR FISCAL 2009-10 Thesynergyonline Corporate Bureau
NEW
DELHI, FEB 17 : With this, the company has maintained its record of earning profits and rewarding investors by paying dividends uninterruptedly for over three decades without a break. A cheque for Rs.364.66 crore towards the interim dividend for the year 2009-10 on the equity (67.72 percent) held by the Government of India, was presented here today to Mr. Vilasrao Deshmukh, Union Minister for Heavy Industries and Public Enterprises by Mr. B.P. Rao, Chairman and Managing Director, BHEL, in the presence of Mr. Arun Yadav, Union Minister of State for Heavy Industries and Public Enterprises and Dr. Satyanarayana Dash, Secretary, Ministry of Heavy Industries & Public Enterprises. Directors on the board of BHEL as well as other senior officials of the Ministry of Heavy Industries & Public Enterprises and BHEL were also present on this occasion. The growth momentum achieved by BHEL in 2008-09 is likely to be accelerated in the current fiscal. The company has recorded significant growth in its turnover and despite the wage revision, maintained its profitability in the first nine months of 2009-10, as against the corresponding period in the previous year. With an order book position of over Rs.1,34,000 crore, at the end of the third quarter, the company expects to achieve robust growth in 2009-10 and beyond. (editor@thesynergyonline.com) OUTOKUMPU CUTS 25% CARBON DIOXIDE EMISSION , SETS TARGET OF FURTHER 20% REDUCTION BY YEAR 2020. Thesynergyonline Corporate Bureau NEW DELHI, FEB 17 : FINLAND-BASED European stainless steel producer Outokumpu has announced that facilities have the smallest carbon footprint of all stainless steel producers in Europe. In general, the company notes that the firm’s output is 10 to 20 percent lower than the EU average.
The company states that its results have been achieved through improved processes, but also by optimizing the use of recycled steel and by pursuing a low-carbon electricity mix. The finding were made by Life Cycle Inventory Study on Stainless Steel Production in the EU, conducted by PE International.
“In the last ten years Outokumpu says it has managed to reduce its direct carbon dioxide emissions by 25 percent per ton of stainless steel produced. Outokumpu’s target is a further 20 percent reduction by 2020. Emissions are calculated per ton of steel produced, hence highlighting not only the actual reductions, but also production efficiency.” Said Mr Juha Rantanen, CEO, Outokumpu.
“The targeted annual reduction approximately 370 000 tons of CO2 emissions during the programme period 2010-2020 the target will result in reduction of 2 200 000 tons, calculated against current capacity and products. Outokumpu carbon profile consists of direct emissions from production operations, indirect emissions from purchased” Mr Rantanen said.
“ As Emissions are calculated per ton of steel produced hence highlighting not only the actual reductions but also production efficiency. Outokumpu carbon profile consists of direct emissions from production operations, indirect emissions from purchased electricity as well as emissions resulting from transport of products and business travel. Outrokumpu India will also help the company in reducing carbon emissions” said Mr Y.P.S.Suri, Country head, Outokumpu India "Being a global player in an energy-intensive industry means great responsibility and we are making our contribution. The proportion of recycled material in our products is already a lot higher than the global average and our ferrochrome production is a world leader in both energy efficiency and curbing CO2 emissions.”Mr Suri added. (editor@thesynergyonline.com) AUGUSTAWESTLAND , TATA SONS FLOAT JV FIRM Thesynergyonline Corporate Bureau NEW
DELHI, FEB 17 : The agreement was signed in New Delhi today by Mr. Giuseppe Orsi, CEO, AgustaWestland and Mr. Ratan Tata, Chairman, Tata Sons. The joint venture company will be responsible for AW119 final assembly, completion and delivery while AgustaWestland will retain responsibility for worldwide marketing and sales. The first aircraft is scheduled to be delivered from the new facility in 2011 with production forecast to rise to 30 aircraft per year to meet worldwide demand. Mr. Giuseppe Orsi, CEO, AgustaWestland speaking after the signing ceremony said," The establishment of a joint venture to set up an AW119 assembly line in India will provide extraordinary industrial opportunities both in the country and worldwide through the synergies generated by AgustaWestland and Tata Sons capitalizing upon the depth of their respective resources. We are committed to enabling Tata Sons to play an increasing role as an aerospace enterprise and to jointly exploiting future prospects in the growing Indian helicopter market." It is envisaged that the joint venture company would be a supplier for the current Reconnaissance and Surveillance Helicopter programme of the Indian Armed Forces, for which AgustaWestland has already proposed the AW119 to be manufactured in India. Additionally, AgustaWestland and Tata Sons are exploring further commercial, technical and industrial collaboration opportunities in the rotorcraft industry to strengthen their .strategic relationship. (editor@thesynergyonline.com) FUJIFILM CHALS OUT RETAIL SALES STRATEGY IN INDIA , SETS UP SERVICE SUPPORT CENTRES IN 26 CITIES Thesynergyonline Corporate Bureau NEW
DELHI, FEN 17 : The
company has recently tied up with large format retail (LFR) chains of repute in
the country. Some of the prominent names amidst them include Chroma, Reliance
Digital, eZone, More and Jumbo Electronics. Leveraging on the wide geographic
footprint and network of these LFR chains, FUJIFILM intends to have retail presence
across the country. The focus, besides thefour metros, is on 18 other tier-I and
tier-II cities including Bangalore, Hyderabad, Cochin, Trivandrum, Pune, Ahmedabad,
Indore, Bhopal, Bhubaneswar, According to Mr. Kenichi Tanaka, Managing Director, FUJIFILM India, "Besides the metro cities, our endeavour is to establish retail presence across all important B & C class cities in India. The disposable income of people in these cities has risen impressively in the recent past and we have been experiencing decent traction for our products from these markets lately." FUJIFILM also intends to ramp up its branding, sales and marketing activities through a series of above and below-the-line marketing activities so as to effectively get across its message to its diverse target audiences. The company's marketing plans for the current year include advertising in print and outdoor media, participating in industry and consumer exhibitions etc. To promote sales, FUJIFILM is investing heavily into BTL activities like road shows, dealer meets etc., besides in-store promotion activities, shop-in-shop arrangements, counter decorations, and POP / POS (point-of-purchase / point-of-sales) materials. The company is open tomulti-brand store approach as it believes it helps discerning customers compare the products better and make wise decision. Along with multi-brand stores, FUJIFILM is also selling through routine IT channel partners, consumer electronic showrooms and photo studios. Along with its sales network, it has ramped up its support infrastructure as well. Today, it has a network of 26 customer care centre spread across the length and breadth of the country. In North, FUJIFILM has instituted its service centers in Chandigarh, Dehradun, Jammu, Lucknow, Ludhiana, New Delhi, Jaipur, Gurgaon and Ghaziabad. In South, it has set-up service centers in Bangalore, Chennai, Cochin, Coimbatore, Madurai and Secunderabad. In the central India region, the company has opened a service center in Indore. While in the East, the Company has established service centers in Bhubaneswar, Guwahati, Kolkata and Patna. In the West, FUJIFILM caters to its customer care requirements through its service centers set-up in Ahmedabad, Mumbai, Nagpur, Pune, Goa and Raipur.
"The demand for digital cameras in India has displayed resistance to the global economic slowdown and is still on the growth path. Owning a digital camera has become more of a norm amongst the youth just like the trendy mobile phones they love to own. We sincerely believe that the Indian market has a huge potential and we are concentrating our efforts on expanding our market share. We are getting fabulous response both from the end consumers and all the channel community and are confident of achieving our sales targets and penetrating deeper into the market," concluded Mr. Tanaka. (editor@thesynergyonline.com) TATA INDUSTRIAL SERVICES , DIEHL BGT DEFENCE GMBH & CO KG SIGN MOU Thesynergyonline Corporate Bureau NEW
DELHI, FEB 17 : The cooperation will enable Tata Industrial Services and Diehl BGT Defence to engage and explore opportunities for Global supply solutions from India Inc., involving various non-Tata and Tata group companies, including support for Offsets. This MoU will also allow Diehl BGT Defence to bring in relevant technology and products into India for cooperation with Indian Partners to participate in key domestic programmes . (editor@thesynergyonline.com) TATA,
IAI UNVEIL FUTURE TECHNOLOGIES AT DEFENCE EXPO 2010 Thesynergyonline Corporate Bureau
Both these systems have been installed and integrated on TATA Motors' new Mine Protected Vehicle (MPV), by a joint NOVA-TAMAM team and will be unveiled in the TATA Pavilion HALL 12 at the DEFEXPO 2010.
IOL
CHEMICALS STARTS ITS OWN NEW POWER COGEN PLANT WITH 17MW CAPACITY Thesynergyonline Corporate Bureau NEW
DELHI, FEB 11 : The
commissioning of new cogeneration plant will enable the company to meet its enhanced
energy requirements effectively and become more self-reliant with a total of 17mw
of power for exclusive consumption by the company’s expanded manufacturing
facilities. The new cogeneration plant is a part of Rs.256 crore expansion plan
of the company, which will be completed by the end of this financial year. the
company expects its turnover to increase substantially in the new financial year. Thesynergyonline Corporate Bureau NEW
DELHI, FEB 11 : The Mixed Company will build heavy oil production facilities, upgrading facilities and associated infrastructure. The upstream production facilities are expected to produce around 400,000 barrels per day of extra heavy oil of which approximately 200,000 barrels per day will be upgraded into light crude oil in a facility to be located in the Soledad area, Anzoátegui State. The license term will be for 25 years with the potential for a further 15 year extension for a total of 40 years. The Consortium will be required to submit a bonus in stages upon the achievement of certain project milestones. In addition, the Consortium will also extend a limited credit facility to CVP. The award of the Mixed Company contract followed an extensive international selection process conducted by Venezuela’s Ministry of Energy and Petroleum during late 2008 and through 2009. The Mixed Company contract between CVP and the Consortium is scheduled for signature in March 2010 following the fulfillment of certain predetermined conditions including the investments approvals of OVL; IOC and OIL by Government of India. The Government of the Bolivarian Republic of Venezuela has given high priority to increase production of extra-heavy crude oil from the Orinoco Oil Belt for the purpose of promoting national development. Consequently, the Ministry offered seven blocks in the Carabobo area, with combined oil in place estimated at around 128 billion barrels. The blocks were grouped into three projects with each project expected to produce a plateau of 400,000 barrels of 8° API oil per day for 40 years. Each project also includes the construction of heavy oil upgraders that individually will have the capacity to process around 200,000 b/d of 32° API crude. The Carabobo area, located in the eastern section of the Faja, has a massive resource potential and is part of an extensive reserve certification process led by PDVSA. As recently reported by the US Geological Survey, the estimated mean volume of recoverable heavy oil in the Faja is as high as 513 billion barrels, one of the few global opportunities open to private investment. (editor@thesynergyonline.com) . BHEL WINS RS 495-CRORE ORDER FOR 330MW HYDRO PROJECT IN J & K Thesynergyonline Corporate Bureau NEW
DELHI, FEB 10 : For
NHPC, BHEL is also presently executing the electro-mechanical works for Nimoo
Bazgo HEP (3x15 MW) and Chutak HEP (4x11 MW), both in the challenging terrain
and climatic conditions of Jammu and Kashmir NO SUBSIDIARY CREATION FOR ASSAM OPERATIONS OF ONGC Thesynergyonline Corporate Bureau NEW
DELHI, FEB 10 : Factually such reports have emanated out of certain reviews in ONGC as well as in the Ministry of Petroleum and Natural Gas. Various options for improving productivity in Assam Asset through appropriate changes in the decision making process and a more focused approach with improved professional support to local management, have been contemplated. One of the options examined was creating a wholly owned subsidiary of Assam Asset (like ONGC Videsh ), the release says.. Some of the local organizations in the State of Assam have also resorted to protests including direct action, leading to disruption of operations, including loss of production, which has actually hurt the economy of Assam. ONGC has, time and again, clarified on the issue reaffirming its commitment towards uninterrupted continuation of its operations in Assam for improvement in the production of oil and gas from its oil fields. ONGC has also clarified that there is no decision to separate Assam Asset from ONGC and the ONGC Management continues to commit its total support in terms of resources including manpower, finance, technical expertise etc. The matter has further been discussed with the Ministry of Petroleum and Natural Gas, Govt. of India and after due deliberations it has been decided that there shall be no creation of subsidiary company for ONGC operations in the State of Assam. ONGC shall continue to remain committed to make Tomorrow Brighter for the people of Assam, adds release. (editor@thesynergyonline.com) . . BT BRINJAL PRODUCED INDIGENOUSLY BY MAHYCO : MONSANTO Thesynergyonline Corporate Bureau NEW
DELHI, FEB 10 : ·
BT Brinjal has been indigenously developed by Indian seed and biotech company
– Mahyco, with the Cry1Ac gene accessed from Monsanto, in collaboration with
public sector institutions. Mahyco has independently conducted Bt Brinjal research for over nine years in full compliance with the guidelines and directives of the regulatory authorities to ensure its safety; making Bt Brinjal the most rigorously tested vegetable with 25 environmental biosafety studies. Monsanto’s association with Mahyco is restricted to the extent of a minority stake of 26 percent in the company, through Monsanto Holdings Pvt. Ltd. (MHPL) – a 100 percent subsidiary of Monsanto Company, USA. Mahyco-Monsanto Biotech (MMB) - a 50:50 joint-venture between Mahyco and MHPL, markets Bollgard II and Bollgard Bt cotton technologies. The Ministry of Environment and Forests (MoEF) has encouraged research on biotechnology in agriculture. In keeping with the same, Monsanto will continue to conduct research in our focus crops – cotton, corn and vegetables, in compliance with the Regulatory protocols. Monsanto believes better seed, biotech-enhancements, and improved agronomic practices hold the long-term solution to increasing crop productivity sustainably. Monsanto is focused 100 per cent on agriculture and is committed to innovating and partnering to help improve productivity for Indian farmers. Over four decades of partnership with Indian farmers, Monsanto has provided high-yielding seeds and biotech traits in corn, cotton, and vegetables; as well as agricultural herbicide products.
In India, Monsanto’s business is managed under Monsanto Holdings Private
Limited (MHPL) – 100 percent wholly-owned subsidiary of Monsanto Company;
and 26 percent Stake in Mahyco.
(editor@thesynergyonline.com)
.
L & T FINANCE RS 500 CRORE NCD ISSUE TO MEET WORKING CAPITAL NEEDS Thesynergyonline Corporate Bureau NEW
DELHI, FEB 10 : The issue opened on February 9, 2010, and will close on February 22, 2010 and includes various investment options and the yield on redemption is of upto 8.58 per cent (per annum). The face value of Rs. 1,000 per NCD and tradable lot size of 1 NCD.. The NCDs have been rated “CARE AA+” by CARE and “LAA+” by ICRA. Instruments with a rating of “CARE AA+” by CARE are considered to offer high safety for timely servicing of debt obligations. Such instruments carry very low credit risk. The rating of “LAA+” by ICRA indicates high-credit-quality and the rated instrument carries low credit risk. The NCDs are proposed to be listed on the National Stock Exchange of India and on the Bombay Stock Exchange . The issue offers two investment options: Option 1 (Semi-annual interest payment): The face value is of Rs. 1,000 per NCD and the minimum application is of Rs. 10,000 (for Retail) and of Rs. 1,01,000 (for NIIs and QIBs) (together with other options) and in multiples of Rs. 1,000 therein. The redemption date or maturity period is 36 months from the date of allotment. The coupon rate is 8.40 percent p.a. and the annualized yield is 8.58 percent. The
interest payment is made semi-annually and the face value plus any interest that
may have accrued is payable upon redemption of the NCDs. Option II (Annual interest payment): The face value is of Rs. 1,000 per NCD and the minimum application is Rs. 10,000 (for Retail) and of Rs. 1,01,000 (for NIIs and QIBs) ) (together with other options)and in multiples of Rs. 1,000 therein. The redemption date or maturity period is 36 months from the date of allotment. The coupon rate is 8.50 percent p.a. and the annualized yield is 8.50 percent. The interest payment is made annually and the face value plus any interest that may have accrued is payable upon redemption. The funds raised through this issue will be used primarily for various financing activities of the company including lending and investments , to repay existing loans and for business operations including capital expenditure and working capital requirements and for any other uses. (editor@thesynergyonline.com) . WALMART , CARE INITIATIVE IN BAGLADESH FACTORIES Thesyneryonline Corporate Bureau
The
programme will be implemented in Dhaka, which has the largest number of garment
factories and factory workers in Bangladesh. This initiative is also expected
to indirectly benefit the families, and communities, of these workers, and will
likely positively impact an additional 12,500 to 15,000 people. “Just last week I was in Bangladesh and had the opportunity to see firsthand the contributions of these hardworking female factory workers in their communities,” said Doug McMillon, president and CEO, Walmart International. “At Walmart, we aim to not only improve the lives of our customers and associates, but also to improve the lives of women that work to provide many of the products we carry in our stores around the world. I am confident this program will make a difference in the lives of female factory workers and their families in Bangladesh.” Selected factories will host learning centers, providing education and awareness sessions focused on specific issues of concern to female workers in and around their workplace, including maternal and child health, nutrition, and hygiene and sanitation practices. Through the learning centers, these women will also receive education to improve their reading, writing and math skills. Technical training will focus on providing the workers with design, sewing, equipment handling and other relevant on-the-job technical skills. Factories in Bangladesh employ mostly women – between 20 and 29 years old – who have left their rural villages in search of better livelihoods. “CARE’s 55-year history in Bangladesh has enabled us to establish trusted, long-term relationships in the communities in which we serve,” said Helene Gayle, president and CEO of CARE. “With Walmart’s generous commitment, CARE can expand upon our empowerment efforts, imparting essential skills, and improved opportunities, to thousands of young women working in factories in Bangladesh.” Knowledge and best practices from the Walmart and CARE women’s empowerment factory initiative will be shared with the Bangladesh Garments Manufacturing and Export Association (BGMEA) to help improve the quality of life and social conditions in other factories as well. Last May, the Walmart Foundation announced a $1 million grant to CARE for projects focusing on empowering impoverished young women in Peru, Bangladesh and India through education, job-training and entrepreneurial support programs. This project marks the second of a series of initiatives to elevate women from poverty worldwide. Globally, women make up 70 percent of the one billion people living on less than a dollar a day, work two-thirds of the working hours, produce half of the world’s food, yet earn only 10 percent of the world’s income and own less than 1 percent of the world’s property. (editor@thesynergyonline.com) . IOL CHEMICALS INCOME UP 27.7 % ; OPERATING PROFIT ALSO RISES BY 85% Thesynergyonline Corporate Bureau
The
income for the company during the nine months went up by 14.30 percent to Rs 263.03
crore in comparison to Rs 230.12 crore reported in the corresponding nine months
of the previous year. The operating profit for the nine months ended December
31, 2009 went up by 9.14 percent to Rs 29.14 crore against Rs 26.70 crore reported
in the corresponding period ended December 31, 2008. The Earning Per Share during
the nine months has increased to Rs 5.04 from Rs 4.71 in the corresponding period.
OUTOKUMPU TO FURTHER CUT 20% CARBON DIOXIDE EMISSION BY 2020 Thesynergyonline Corporate Bureau
The company states that its results have been achieved through improved processes, but also by optimizing the use of recycled steel and by pursuing a low-carbon electricity mix. The finding were made by Life Cycle Inventory Study on Stainless Steel Production in the EU, conducted by PE International. "In the last 10 years Outokumpu says it has managed to reduce its direct carbon dioxide emissions by 25 percent per ton of stainless steel produced. Outokumpu's target is a further 20 percent reduction by 2020. Emissions are calculated per ton of steel produced, hence highlighting not only the actual reductions, but also production efficiency." Said Mr Juha Rantanen, CEO, Outokumpu. "The targeted annual reduction approximately 370 000 tons of CO2 emissions during the programme period 2010-2020 the target will result in reduction of 2 200 000 tons, calculated against current capacity and products. Outokumpu carbon profile consists of direct emissions from production operations, indirect emissions from purchased" Mr Rantanen said. " As Emissions are calculated per ton of steel produced hence highlighting not only the actual reductions but also production efficiency. Outokumpu carbon profile consists of direct emissions from production operations, indirect emissions from purchased electricity as well as emissions resulting from transport of products and business travel. Outrokumpu India will also help the company in reducing carbon emissions" said Mr Y.P.S.Suri, Country head, Outokumpu India "Being a global player in an energy-intensive industry means great responsibility and we are making our contribution. The proportion of recycled material in our products is already a lot higher than the global average and our ferrochrome production is a world leader in both energy efficiency and curbing CO2 emissions."Mr Suri added. (editor@thesynergyonline.com) .
Thesynerrgyonline Corporate Bureau NEW
DELHI, FEB 02 : Finished
product finds application for spinning of yarn, stuffing in toys and other life
style products like pillows, quilts, mattresses and furniture, non-woven carpets
and fabrics, medical & packaging textile, geo textile, fur fabrics, construction
and paper industry and other technical textile. Recycled PSF replaces 100 percent
virgin PSF in textile sector due to its most distinctive advantage of cost-effectiveness
and it replaces Foam, Cotton, P.P. fibre etc. in other industrial sectors due
to its durability, comforts and hygienic characteristics besides cost-effectiveness.
GPL product range includes low-end basic segment to mid and high-end premium segment. The
company's growth plans include enhancing the recycling capacity to over 100,000
tpa in stages over the next 2-3 years, building up of yarn spinning capacity to
integrate its operations forward and to improve margins, foraying into manufacturing
of down stream products and entering into horizontal integration through producing
more value added products like Partially Oriented Yarn (POY), packaging sheets,
etc. from Waste. In the December'09 quarter, sales grew by 39 percent to Rs.52.56 crore. EBIDTA rose by 33 percent to Rs.6.16 crore. Net profit grew by 169 percent to Rs.2.85 crore. The company is likely to close this fiscal reporting 40 percent growth in revenues along with 52 percent rise in EBIDTA and 105 percent rise in net profits. The company is moderately leveraged. With improved financials, the company has decided to reward the shareholders by declaring interim dividend of 5 percent for FY 2009-10. (editor@thesynergyonline.com) . BHEL LIFTS DRUM MILESTONE OF HRSG PRAGATI - III PROJECT AT BAWANA Thesynergyonline Corporate Bureau NEW
DELHI, FEB 01 : Mr. B.P. Rao, CMD, BHEL, Mr. Atul Saraya, Director (Power), BHEL; Mr. R.K. Gaur, MD, Pragati Power Corporation Limited (PPCL), BHEL and Mr. N.K. Sharma, ED, NTPC were present on the occasion. Significantly, all the projects being set up for the Commonwealth Games are being monitored closely by BHEL's top management in order to ensure timely completion. Earlier, two of the four fuel-efficient Advanced-class Frame 9FA Gas Turbines (250 MW each) for the project were successfully placed on the foundations in the presence of officials from PPCL, GE, BHEL and NTPC. Weighing 280 tonnes, the Gas Turbine is BHEL's first highest rating Gas Turbine. Being set up by BHEL on turnkey basis, this power plant is part of the infrastructure planned for the forthcoming Commonwealth Games. BHEL had won the contract for setting up the power plant against International Competitive Bidding (ICB). Valued at Rs.3,588 Crore, the order for the Gas Turbine-based CCPP was placed by PPCL. BHEL has earlier set up on turnkey basis, the 330MW Pragati CCPP in Delhi, which has been performing exceedingly well since commissioning. The project comprises two power blocks of 750 MW each using Natural Gas as fuel. Treated water from a nearby sewage treatment plant shall be used as the source for raw water for the plant. This power plant will be equipped with four Gas Turbines and two Steam Turbines of 250 MW each and can be operated in both Open Cycle as well as Closed Cycle Mode. (editor@thesynergyonline.com) .
Thesynergyonline Corporate Bureau NEW
DELHI, FEB 01 : As
part of the strategy the company has taken measures to penetrate deeper into remote
areas of the these states . As
part of their marketing strategy in North India 'Cycle Pure Agarbathies' recently
launched their new product 'Om Shanti' agarbathies in Lucknow and Jaipur. Traditionally
wet dhoops are famous in North India; Cycle Pure Agarbathies captures the ambience
of dhoop with the ease in 'Om Shanti'. The products of 'Cycle Pure Agarbathies'
has been customized keeping in mind the traditions, values and festivals of the
region. Mr.
Arjun Ranga, CEO, 'Cycle Pure Agarbathies' said "There is a greater religious
connect in North India as there are numerous places of worship and festivals are
celebrated majestically. These factors have encouraged us to look at this region
more seriously. We will strengthen our market position in the entire North Indian
region. We also have over 3000 distributors of our own and we plan to increase
this network. This will also helps us cater to the large market where we intend
to double the sales in the next one year. We intend to participate in fairs and
festivals, to enhance consumer awareness". In
a 1200- crore agarbathies industry 'Cycle Pure Agarbathies' is the major player
. The company manufactures close to Rs 500 crore agarbathies annually. The company
customizes products to suit the needs of the market . DANIEL HECTOR UNVEILS EXCLUSIVE STORES IN DELHI Thesynergyonline
Corporate Bureau
Daniel
Hechter, an International label focusing on Menswear in India ensures creative
fashion that includes the classic range of products with visible value addition,
combined with sporty elegance in the sophisticated leisure range. The range offers
premium classic shirts, trousers in slim silhouettes, double mercerized T-shirs
and pima jerseys. The French company which was recently launched in India by Indus league on an agreement, that Daniel Hechter would provide expertise in European design and styling to bring the latest collection to India, while Indus League would rely on its manufacturing ability as well as its retail prowess to market the brand across the country. Indus League will look to grow Daniel Hechter to a Rs. 50 crore brand by the end of 3 years. With this agreement the French Pret brand will offer its range of menswear to the Indian consumer. On
brand, Rachna Aggarwal, CEO, Indus League Clothing . said, “We bring to Delhi
international styles and designs from Paris through an exclusive Daniel Hechter
Store. Delhi is a very stylish market and through this store we intend to ensure
that the customer gets the finest quality and best of styling” “We have been eying Delhi as a fast developing market for luxury brands in India. We are glad to be associating ourselves with the city with our first store in Select city walk. We hope Daniel Hechter is an absolute delight to Delhi with a fine blend of European designs and elegenat personalities of the people” said Tanguy Mulliez, International License Director, Daniel Hechter The Daniel Hechter brand has its origin in Paris, the fashion capital. Fashion from Daniel Hechter blends French savoir-faire with sporty elegance. It garbs wearers in the certainty of always being well dressed. Fashion from Daniel Hechter conveys a lifestyle feeling, rendering the brand both authentic and appealing. In India, over the next 3 years, the brand intends to expand to at least ten exclusive brand outlets in Bangalore, Mumbai, Delhi, Chennai and Hyderabad. Daniel Hechter is available at select Pantaloons, Central Malls and Shoppers Stops across the country. (editor@thesynergyonline.com) . KHURSHID GIVES AWAY SECOND KPMG INFRASTRUCTURE TODAY AWARDS Thesynergyonline Economic Bureasu NEW
DELHI, JAN 28 : The KPMG - Infrastructure Today awards 2010, organized by ASAPP Media Information Group and KPMG and supported by the Pipavav Shipyard were presented to 14 companies / entities across three categories – Infrastructure Developers, Facilitators and Infrastructure Financier. The winners included GMR, GVK, Torrent Power , IRB Infrastructure Developers, Mundra Port and SEZ, Reliance Infrastructure , India Infrastructure Finance Company , Ministry of Urban Development and the State of Gujarat. The winners were selected by a respected panel of jury members comprising: Mr. Gunit Chaddha, Managing Director and CEO, Deutsche Bank, Mr. Ajay Saxena, PPP Expert, Asian Development Bank, Mr. S.S. Kohli, CMD, IIFCL, Mr. Rashesh Shah, Chairman and Managing Director, Edelweiss Capital , Mr. Sanjay Ubale, Managing Director and CEO, TATA Realty and Infrastructure , Mr. UPS Madan (IAS), Project Manager, Mumbai Transformation Support Unit and Mr. Arvind Mahajan, Executive Director, KPMG Advisory Services . The awards were presented by the chief guest Mr. Salman Khurshid, Minister for Corporate Affairs and Minority Affairs (Independent Charge), Government of India amidst two hundred senior professionals from the infrastructure industry across India who were present at the event. The awards were presented across three categories of stakeholders, including infrastructure developers, Government agencies who facilitate infrastructure creation and infrastructure financiers. An award for the Project of the Year to Mumbai Metro One (Mumbai MRTS project) where the entities involved from the three stakeholder categories were recognized was also presented. The awards process was based on a perception survey, where key industry leaders where asked to rank companies in each sector. The top ranked companies were presented to the jury panel, who selected the winners in each category. “The key enablers for successful PPP project implementation such as robust concession documentation, equitable risk allocation, innovative debt structures, and effective resettlement and rehabilitation processes have improved significantly over the past year. Certain stakeholders have led the way in driving these improvements. It is both appropriate and imperative that the leaders of the principal stakeholders are recognized and honored for their invaluable role and ability to collaborate for success” explained Manish Agarwal, Executive Director, KPMG Advisory Services . “Our intention with the 2nd edition is to create a widespread recognition of the awards and institutionalize the concept of public recognition within the infrastructure sector with the expectation that it will foster an attitude of excellence and winning an organizational habit.” explained Arvind Mahajan, Executive Director, KPMG Advisory Services Addressing the audience Mr. Salman Khurshid said ," India has sought itself out of the slumber in the past 20 years and is fast emerging from its past to its future. Indian infrastructure is definitely poised to greater glories in the coming times and is also fast becoming a global market .It is extremely inspiring and impressive to see all the contribution from the industry in putting up the Indian face on the global platform. ‘ “With US$ 500 billion being spent over the next five years by our government, we felt that high standards need to be set for achieving excellence in infrastructure projects, explained Pratap Padode, president, FIRST (Foundation of Infrastructure Research Studies Training) . "With
this basic mission in mind we applied ourselves to this path-breaking exercise
with KPMG,” explained Pratap Padode, president, FIRST (Foundation of Infrastructure
Research Studies Training) which has entered into a PPP for enhancing standards
of vocational training. FIRST is promoted by ASAPP Media Information Group'"
he said. “The awards have brought about an era of transparency and awareness of corporate governance," he added. (editor@thesynergyonline.com) . BHEL , MPPGCL FLOAT JV FIRM FOR SETTING UP SUPERCRITICALTECH PROJECT Thesynergyonline
Corporate Bureau BHOPAL,
JAN 28 : The joint venture agreement was signed in the presence of Mr Shivraj Singh Chouhan, Chief Minister of Madhya Pradesh; Mr Arun Yadav, Union Minister of State for Heavy Industries and Public Enterprises; Rajendra Shukla, Minister of State for Energy & Mineral Resources, Government of Madhya Pradesh and Mr B.P. Rao, Chairman & Managing Director, BHEL, in Bhopal today. Mr Rakesh Sahni, Chief Secretary, Government of Madhya Pradesh and Mr. S.P.S. Parihar, Secretary, Energy, Government of Madhya Pradesh were also present on the occasion in addition to Directors on the board of BHEL as well as other senior officials of MPPGCL, DHI and BHEL. BHEL and MPPGCL have set up the JVC with initial equity equally subscribed by both the partners. Subsequently, the equity would be diluted so that the stake of both BHEL and MPPGCL is reduced to 26 percent each and the balance equity of 48% is subscribed to by Financial Institutions/ Banks and other partners. The order for setting up of the power project would be placed on BHEL by the JVC on a nominated basis. The development of this project would be taken up on priority. The first unit of the coal-based power plant would come up within 48 months of the order being placed on BHEL with the second unit will get operational within 54 months. To this end, BHEL will initiate advance action for pre-engineering activities. The Turbine Generator units of 800 MW would be manufactured by BHEL at its Haridwar plant, while the once-through supercritical boilers, would be manufactured at BHEL’s Tiruchy plant. Supercritical technology ensures lower coal consumption, lower emission, eco-friendly and efficient power generation. The project also qualifies for carbon credits under Clean Development Mechanism (CDM). BHEL has been promoting joint venture companies to build, own and operate supercritical thermal power plants in association with state utilities. The power equipment major has already set up two such joint ventures with TNEB for a 2x800 MW power plant at Udangudi in Tuticorin, Tamilnadu and with KPCL for the 2x660/800MW and 1x660/800MW at Yeramarus and Edlapur in Raichur, Karnataka. The
power equipment major has upgraded its technology base from sub-critical sets
to supercritical sets of 660/800 MW and above. The company has ongoing collaboration
agreements with Alstom, France and Siemens, Germany, with a technology transfer
arrangement. This will enable the country to be self-reliant in the field of supercritical
thermal power plants. (editor@thesynergyonline.com)
. DHFL Q3 NET PROFIT UP 73% AT RS 40.16 CRORE Thesynergyonline Corporate Bureau MUMBAI, JAN
28 : The
company also reported 42.30 percent increase in total income to Rs. 260.65 crore
for the third quarter ended December 31, 2009. The board of directors of the company
announced the un-audited results for the third quarter ended on December 31, 2009,
at a meeting Mumbai on Wednesday. The
net NPA of the company as on December 31, 2009 stood at 0.96 percent for the FY
2009-10. The company posted a net interest margin (NIM) of 2.95 percent.
The company earned third party fee based income of Rs. 17.40 crore for the nine
months of the fiscal 2009-10. ESSAR STEEL INFRA NETWORK FORUM ON METROPOLITAN TRANSITION Thesynergyonline Corporate Bureau NEW
DELHI, JAN 27 : The
discussion panel will include Dr M Ramachandran - Secretary, Ministry of Urban
Development, Government of India, Mr Johny Joseph - Upalokayukta and Former Chief
Secretary, Government of Maharashtra, Mr Ramesh Ramanathan - Co-founder, Janaagraha
Centre for Citizenship and Democracy, Mr Sanjiv Paul - Managing Director, Jamshedpur
Utility & Services Company (JUSCO) and Mr Rajeev Talwar, Group Executive Director,
DLF . As a run-up to 'Essar Steel Infrastructure Excellence Awards 2010', the
panel will highlight various trends, learnings and solutions in the sector. The
panel at the forum will discuss in detail issues pertaining to the development
of infrastructure in urban and rural segments. The discussions will throw light
on the need for stakeholder involvement in urban planning, possible solutions
for infrastructure bottlenecks as well as PPP for rural infrastructure development. To
highlight the critical role played by the infrastructure development in the economy
and underline the progressive march of Infrastructure industry, Essar Steel and
E18 have instituted Essar Steel Infrastructure Excellence Awards in association
with CNBC TV18 to put the spotlight on the best infrastructure projects in the
country in categories like Highways & Flyovers, Railways, Airports, Ports,
Energy & Power, Oil & Gas, Telecom and Urban Infrastructure. (editor@thesynergyonline.com)
PATEL ENGINEERING CONSOLIDATED NET PROFIT UP 29 % TO RS 121.38 CRORE Thesynergyonline Corporate Bureau MUMBAI,
JAN 27 : Meanwhile, consolidated revenues grew by 26.03 per cent to Rs 1,883.99 crore as compared to Rs 1,494.85 crore in the corresponding period ended December 31, 2008. For the nine months ended December 31, 2009, the EBIDTA margins stood at 17.96 per cent compared to 16.15 per cent in the corresponding period last year. Higher share of hydropower projects with better control on construction cost helped the company to improve the margins. The earning per shares stood at Rs 19.54 for the nine months ended December 31, 2009, based on the weighted average shares after the QIP and ESOP issue in the current quarter. Consolidated revenue grew 27.97 per cent to Rs 633.01 crore for the third quarter ended December 31, 2009 (Q3FY10) compared to Rs 494.65 crore in the corresponding quarter last year. During the quarter, consolidated net profit grew by 34.66 per cent to Rs 44.35 crore compared to Rs 32.94 crore in the corresponding quarter last year. Patel Engineering had issued 7,218,061 fully paid up equity shares of Re. 1 each on October 26, 2009 by way of Qualified Institutional Placement (QIP) at a price of Rs. 477.03 per equity share (including a premium of Rs. 476.03). The
company had also issued 29,50,000 fully paid- up equity shares of Re 1 each on
October 29,2009 to Patel Engineering Employee Welfare Trust (ESOP Trust) at Re
1 per equity share. The share capital of the Company now stands increased to 69,827,151
shares of Re 1 each. During the quarter, the company has launched its first phase (out of the total of 120 acres ) of residential development at Bangalore in the name of "Smondoville", through its wholly owned subsidiary Patel Realty India Ltd. As on date, the company had received bookings for more than 800 apartments out of the total of 1123 apartments. The company has also launched a residential project at Noida, through its subsidiary Pan Realtors Pvt. Ltd. Out of its first phase of the development of 1,600 units, the company has, as on date, already received bookings for more than 1,200 apartments out of the total of 1600 apartments. (editor@thesynergyonline.com) HINDUSTAN ZINC Q3 NET PROFIT UP 211 % AT RS 1149 CRORE Thesynergyonline Corporate Bureau MUMBAI,
JAN 24 : The positive impact of higher LME, volume and operational efficiencies on net profit was partially offset by the substantial decline in the by-product credit realization and impact of long term settlement of wage agreement effective from 1 July 2007, with the HZL union. During Q3, the company achieved highest ever zinc and lead mined metal production of 199,729 tonnes. During the same period, refined zinc and lead metal production was 167,000 tonnes. Sales during the quarter were augmented by sales of 40,972 dry metric tonnes of surplus zinc concentrate. During Q3, the company recorded its highest ever saleable silver production at 35,633 kilograms, an increase of 44% compared with the corresponding prior quarter. The increase in production was primarily on account of higher silver content in the mined ore and better recoveries. Revenues and net profit for Q3 were Rs 2,217 crore and Rs 1,149 crore, compared with Rs. 1,031 crore and Rs. 369 crore in the corresponding prior quarter. The positive impact of higher LME, volume and operational efficiencies on net profit was partially offset by the substantial decline in the by-product credit realization and impact of long term settlement of wage agreement effective from 1 July 2007, with the HZL union. The construction work for the 210,000 tonnes of zinc and 100,000 tonnes of lead smelter at Rajpura Dariba with 160 MW associated captive power plant along with Rampura Agucha Mine expansion is progressing well and is on schedule for completion by mid-2010, as announced earlier. Work at the other mining projects at Sindesar Khurd and kayar are also progressing as per schedule for progressive commissioning by early 2012. Post completion of these projects, HZL will be the world's largest integrated zinc-lead producer with a total smelting capacity of 1,064,000 tonnes. As at 31st December 2009, the Company had cash and cash equivalents of Rs. 10,700 crore. This includes Rs. 10,200 crore in debt mutual funds and Rs. 500 crore in fixed deposits with banks. The Company follows conservative investment policy and invests in high quality debt instruments. All mutual fund investments are based on advice from CRISIL. (editor@thesynergyonline.com) MAT HOLDINGS , INC USA SETS UP DISC BRAKES PADS MANUFACTURING PLANT IN INDIA Thesynergyonline Corporate Bureau SONEPAT,
India, JAN 24 : MAT Holdings has over 30 manufacturing and warehousing plants throughout Asia , Europe and the USA. In India, the group has been expanding its activities on an exponential scale in the form of 100 percent EOUs, manufacturing automotive brake pads at Sonepat, Haryana. Danblock Company of this group in India has modern state- of- the- art manufacturing plant to produce 40 million disc brake pads every year. Dr. Steve Wang, the Group chairman of MAT Holdings; Inc USA recently inaugurated the company by cutting ribbon. He has ambitious plans to expand the group activities substantially in India during the course of 2010. He said, "Danblock manufactures high quality brake pads for cars and commercial vehicles. The quality is based on long-term investments in scientific research, product development and on the use of state-of-the-art manufacturing equipment." Company firmly believes in a statement "Safety is the basic requirement of our brake pads." Mr. K. Pandarinath, Managing Director of Danblock said "His plant is the largest brake pad manufacturer in Asia. Currently Danblock is a 100% Export Oriented Unit catering to the American market but has plans to cater to the Indian automotive market also very shortly."
Other
guests who were present at inauguration were Mr. George Ruhl: President &
COO (MAT Holdings;- USA); Mr. Craig Gordon : Vice - President & General Manager
- G R I E and Mr. Shanti Rewri : Executive Advisor - MAT Cos. India. (editor@thesynergyonline.com)
HCC Q3 PAT AT RS 14.7 CRORE ; ORDER BOOK TO CROSS RS 21,000 CRORE Thesynergyonline Corporate Bureau NEW
DELHI, JAN 22: The
operating profit improved by 10.6 percent to Rs 106.0 crore in Q3 2009-10 compared
to Rs 117.2 crore in the corresponding quarter last year. Profit before tax (PBT)
of Rs 24 crore in Q3 2009-10 net of Rs.15 crore loss of JV is 68 percent higher
as against PBT of Rs.14.2 crore in Q3 of last year. The net profit is at Rs 14.7
crore v\s Rs 23.2 crore in Q3 2008-09 which is not comparable due to write back
of excess tax provision of Rs 9 crore previous year. HCC
turnover for the first 9 months of FY 2009-10 rose by 12.3 percent to Rs 2771.2
crore from Rs 2468.4 crore in the corresponding period in 2008-09. Operating margins
for nine months period has slightly improved to 12.4 percent in FY 2009-10 from
12 percent. PAT at Rs 38.5 crore is not comparable with corresponding quarter
period year of Rs 74 crore due to accounting of other income of Rs 61 crore on
sale of land. HCC
has expanded its orderbook as on December 2009, with ongoing projects valued at
Rs 15,703 crore, which is 29 percent higher than the Rs 12,177 crore recorded
on December 2008. HCC has secured projects worth Rs 1,862 crore in Q3 of which around 50 percent are coming from hydel power sector worth Rs 893 crore. HCC is awaiting award of projects worth Rs 5,500 crore, where it is the lowest bidder (L1). With this, HCC expects a healthy growth in order book which is likely to cross Rs. 21,000 crore by March 2010. Lavasa
Corporation, an HCC subsidiary, has reported operational income of Rs 142.8 crore
for Q3 2009-10 with EBT margin of 45 percent and PAT of Rs 42.02 crore. For the
nine months period ended FY 2009-10 Lavasa Corporation has reported a turnover
of Rs 338.8 crore and PAT of Rs 98.8 crore. At
Lavasa, the construction work continues to progress at rapid pace with over 15000
workmen, making it one of the largest urban infrastructure development sites in
the country. The company recently commissioned its 100 bed Apollo Hospital and
collaborated with the Massachusetts Institute of Technology's Office of Professional
Education (MIT PE) to conduct an Executive Program in Airport and Airlines Systems. Lavasa
Future Cities, a nationwide campaign was launched to create a platform to discuss
and sensitize government, citizens and experts on the need for creation of new
Indian cities. A nation-wide Citizen Connect initiative was also launched aimed
at citizens to voice their concerns, and provide innovative solutions to make
our cities liveable. HCC
entered the emerging Metals sector with its first order from the Aidtya Birla
Group for fabrication of 362 numbers of Pot Shells for their greenfield smelter
project at Lapanga, Sambalpur in Orissa. The fabrication of Pot Shells requires
high precision quality works to maintain very low tolerance limit as per specification.
HCC
Infrastructure has a portfolio of 3 road projects worth of Rs. 2,400 crore and
expects to generate superior returns through an aggressive, yet sensible, growth
of a diversified and quality portfolio.
(editor@thesynergyonline.com)
SCHNEIDER
ELECTRIC TARGETS TO DOUBLE MARKET SHARE Thesynergyonline Corporate Bureau NEW
DELHI, JAN 22 : The five key products launched at ELECRAMA include Masterpact MVS, Lexium 32, Sympholux, Varplus range of LV Capacitors, and Compact CVS. Speaking on the occasion, Mr. Olivier Blum, Managing Director, Schneider Electric India, said, “Our endeavor is to make energy safe, reliable, efficient, productive and green. The products that we have launched today embody these principles and have been designed keeping in mind our value addition to the customers’ business. These products are simplified and will help end-user reduce design time, capex and opex, and most importantly reduce wastage by making optimal use of energy. Furthermore, for the first time in India, we display Schneider Electric as a global specialist in Energy Management integrating the full solutions coming from the acquisitions of Conserv Systems & Meher Capacitors.” Emphasizing on the importance of the Indian market, Mr. Blum said, “India is part of the select group of 5 most important countries of Schneider Electric. And, the range of products, solutions and services launched today suggests our growing thrust on research and development. Globally, an investment of nearly five per cent out of the global turnover is made in R&D, out of which a significant part will be spent in India. We intend to increase our market share in India by quadrupling our Sales turnover by 2013”. The company clocked domestic sales of Rs. 20 billion and exports of Rs. 20 billion in 2009. About Elecrama exhibition, Mr Blum said, “It is our privilege to be associated to IEEMA to contribute to make Elecrama a window for our industry and I am very honored and proud to have been a brand ambassador in the past months.” With strong willingness to bring safe and clean electricity to the people who need it the most, Schneider Electric will soon be launching a sustainable programme called BiPBoP (Business, Investment, People at the Bottom of the Pyramid). Under this programme, the company will be involving local communities and stakeholders to address the following three key issues to provide sustainable access to electricity: (editor@thesynergyonline.com) ONGC Q3 NET PROFIT UP 23.4% AT RS 3,054 CRORE ; EPS ALSO RISES BY 23.4% AT RS 14.28 Thesynergyonline Corporate Bureau
The turnover of the company (including sale of MRPL products) was up 22.8 per cent at Rs 15,373 crore in 2009-10 as against Rs 1, 2521 crore in the corresponding Q3 of the fiscal 2008-09 . The earning per share of the company was 14.28 in Q3FY10 as against 11.57 in the corresponding Q3FY09 , rise of 23.4 per cent , he said. The company made 7 new discoveries during Q3 of 2009-10 and 2 more in January 2010 .All these discoveries have been notified to DGH.
The company's board approved an investment of Rs. 2163.65 crore for integrated
development of D1 marginal field in Mumbai offshore. The project will be completed
within 27 months from the date of award. Peak envisaged oil production from D1
field is expected to be about 36,000 barrels of oil per day (bopd) during 2012-13,
with incremental oil production of 8.296 MMt over the base production profile
, Mr Sharma said.
The board also approved investment of Rs. 723.64 crore for acquisition of a new
Multi Support Vessel (MSV). ONGC presently have a fleet of 4 MSVs, out of these
2 MSVs are owned by ONGC and 2 MSVs are hired. The scheduled date of commissioning
of this MSV is September, 2012 , hea dded. The
comany's board also approved the draft of the memorandum of understanding (MoU)
to be entered with Bharat Petroleum Corporation for wide ranging cooperation in
Gas and LNG business. The proposed MoU aims at mutual cooperation between the
two state owned PSUs in the area of gas/LNG business, CGD/ pipeline network and
C3 & C4 off-takes etc , he said. Under this MoC, the first project proposed to be taken up is conservation, renovation and restoration of the monuments of Ahom Kings in and around the operational areas of ONGC in Sibsagar, Assam. The other identified sites Ranghar Ruins, Karenghar, Garhgaon and group of maidams at Charaideo in Sibsagar, Assam, Mr Sharma said.(editor@thesynergyonline.com) GAIL (INDIA) COMPLETES ROUTE SURVEY FOR DABHOL - BENGALURU PIPELINE Thesynergyonline
Corporate Bureau
BENGALURU
, JAN 21 : This was informed to the Chief Minister of Karnataka Mr B S Yeddyurappa, S V Rangnath, the Chief Secretary, K. Jairaj, the Additional Chief Secretary, Energy and other senior officials of Government of Karnataka by Mr B C Tripathi, Chairman and Managing Director, GAIL (India) when he called on today. Mr. Tripathi also handed over a cheque for Rs. 2 crore for flood relief in Karnataka to the Chief Minister. GAIL
has completed the route survey of the total length of the pipeline network and
the tendering process for line pipe procurement will start shortly. The high level
clearance committee of the Karnataka Government has already accorded approval
for the pipeline projects and the Government of Karnataka has nominated Karnataka
State Industrial Investment Development Corporation (KSIIDC) as nodal agency for
facilitating the acquisition of land for Dabhol- Bengaluru Pipeline project. GAIL
has already applied for various crossing permissions for laying the pipeline and
will set up a Regional Gas Management Centre at Bengaluru for distribution and
supply of the gas business through this pipeline. In phase II of the project, 417 km spur lines / feeder lines will be laid to Ratnagiri, Kolhapur, Sangali, Bijapur, Dharwad, Devangere, Harihar and Tumkur at an estimated investment of Rs. 486.05 crore and is scheduled to be completed by 2012-13 / 2013-14. (editor@thesynergyonline.com) ONGC BAGS BEST OVERALL PERFORMANCE AWARD AMONGST UPSTREAM SECTOR OIL FIRMS Thesynergyonline
Corporate Bureau
NEW
DELHI, JAN 20 : The Award was received by R S Sharma, CMD ONGC on behalf of the organization at a function organized at Vigyan Bhawan here on Tuesday. The award was given by the Mr. Murli Deora, the Minister of Petroleum and Natural Gas, at the inaugural function of Oil & Gas conservation Fortnight (OGCF) 2010 organized by Petroleum Conservation Research Association(PCRA) under the Ministry of Petroleum and Natural Gas and State Level Coordinator, Delhi on behalf of the oil industry. Other important dignitaries who were present on the occasion included, Mr. Jitin Prasada, Minister of State for Petroleum and Natural Gas, Mr. R S Pandey, Secretary to the Government of India, MOP&NG and Chairman PCRA, Mr. S. Sundareshan, Special Secretary, MOP&NG and Mr. Arun Kumar, OIDB & ED, PCRA. Mr. S. Sundareshan, Special Secretary, MOP&NG while reading out the gist of Mr. Murli Deora’s address who was not keeping well, said that the minister on this important occasion has desired to address the implementation of energy saving measures covering areas which include, saving energy by replacing conventional lamps/bulbs with CFL. (editor@thesynergyonline.com)
NEW PRESIDENT AND VICE -PRESIDENT OF ICSI Thesynergyonline Corporate Bureau
Mr Vinayak S. Khanvalkar is M.Com. & Law Graduate and a Fellow Member of the Institute of Company Secretaries of India . He was the viice president of ICSI for the year 2009 and is presently a practising Company Secretary at Pune. Mr Khanvalkar is the Central Council Member of ICSI for the term 2007-2010. He was the Member of Corporate Legislation Sub Committee of Maratha Chamber of Commerce, Industries & Agriculture and also holding position of Director in private limited companies of repute. He is visiting faculty at various professional institutes, associations and bodies. He had been the Chairman of the Western India Regional Council (WIRC) and Chairman of the Pune Chapter of The Institute of Company Secretaries of India. He was a member of the Secretarial Standards Board of ICSI. Mr Anil Murarka has been elected as the vice president of the Institute of Company Secretaries of India (ICSI) from January 19 , 2010. He is the Central Council Member of ICSI for the term 2007-2010. He is Commerce and Law Graduate and a Fellow Member of the Institute of Company Secretaries of the India . Mr Murarka is presently a Practising Company Secretary at Kolkata. He had been the Chairman of Eastern India Regional Council (EIRC) at Kolkata. He has been a regular speaker at many professional Seminars organised by CII, ICSI, ICAI and was one of the “Panelist” in first all India “Investor Awareness Programme” titled “My Money- My Decisions” organized by the Ministry of Finance. (editor@thesynergyonline.com) PAWAN HANS PAYS RS 2.45 CRORE DIVIDEND TO ONGC Thesynergyonline Corporate Bureau
NEW
DELHI, JAN 19 : Pawan Hans has an equity capital of Rs. 113.76 crore with ONGC equity aggregating to Rs. 24.50 crore (21.5 percentI equity of Rs. 89.26 crore (78.5 percent Receiving the cheque, Mr R S Sharma, CMD, ONGC and Chairman ONGC Group of companies said, "We look forward to cement and consolidate our business and operational synergies with PHHL by way of a collaborative effort. ONGC while congratulating PHHL in its silver jubilee year looks forward looks to a safe and secure logistical support from PHHL for its various critical offshore operations". Dividend
Cheque - CMD ONGC, Mr. R S Sharma on left seen with CMD PHHL, Mr. R K Tyagi on
right. Also seen in the picture are ONGC Board Members. Pawan Hans is regularly paying dividend to the Govt. of India . and ONGC since last 17 years. Against the ONGC's equity share of Rs. 24.50 crores, PHHL has till date paid Rs. 45 crores to ONGC as dividend. (editor@thesynergyonline.com) NOSCHE FORAYS INTO ART; FLOATS NEW FIRM 'AN YAH !!' Thesynergyonline Corporate Bureau
NEW
DELHI, JAN 18 : AN YAH !! is showcasing works of talented emerging artists at its maiden exhibition 'Myriad Expressions-Hindustan Globalistan' at Travancore Art Gallery, New Delhi, from Jan 18 to 24, 2010. A visual treat an array of eye-catching artworks at a variety of media in different styles, display the hues of India over the ages culminating in the contemporary globalised India. Says Meena Verma, Associate VP, "AN YAH!! strives to provide a platform to brilliant emerging artists to showcase their works of art and to bring an affordable collections to art lovers , collectors, corporate organisations and customised art buyers. We have brought together a diverse collection of exotic works depicting India of different eras on canvas, from ancient to modern times." Asheesh Sethi, president Noshe Group said," Art is my passion and it has been my desire all this while to promote art of emerging artists by offering an avenues to present their creative skills. " "With the launch of AN YAH!! I believe I would be able to fuilfill my dream as much as the dream of the upcoming artists looking for recognition in the realm of art." Currently, AN YAH!! is showcasing works of 7 artists at the exhibition," he added. (editor@thesynergyonline.com) .
Thesynergyonline Corporate Bureau NEW
DELHI, JAN 18 : The
gross margin increased by 183 percent to Rs. 1,413 crore in the third quarter
of the current financial year against Rs. 500 crore in the corresponding period
last year. The profit before tax increased by 265 percent to Rs. 1,258 crore in
the third quarter of the current financial year against Rs. 345 crore in the corresponding
period last year. The net sales from LPG and liquid hydrocarbons business during the third quarter of the current financial year have increased by 113 percent to Rs. 710 crore as against Rs. 333 crore in the corresponding period of last year. The
sales from Natural gas trading during the third quarter of the current financial
year decreased by 9 percent to Rs. 4,527 crore as against Rs.4,963 crore in the
corresponding period of the last year. The revenues from LPG transmission during
the third quarter of the current financial year have increased by 8 percent to
Rs. 116 crore as against Rs. 107 crore in the corresponding period last year. The LPG transmission during the third quarter of the current financial year was 820 TMT, up by 7 percent from 763 TMT during the corresponding period in the previous financial year. The LPG and Other Liquid Hydrocarbon production during the third quarter of the current financial year was 372 TMT, up 4 percent from 359 TMT in the corresponding period last year. The LPG and Other Liquid Hydrocarbon sales during the third quarter of the current financial year were 375 TMT, up 6 percent from 355 TMT in the corresponding period last year. The
Natural Gas transmission during the third quarter of the current financial year
was 109.01 MMSCMD, increased by 29 percent from 84.46 MMSCMD in the corresponding
period last year. The
gross margin increased by 2 percent to Rs. 3,745 crore in the first nine months
of the current financial year against Rs. 3,675 crore in the corresponding period
last year. The profit before tax increased by 2 percent to Rs. 3,272 crore in
the nine month of the current financial year against Rs. 3,200 crore in the corresponding
period last year. The net sales from LPG and liquid hydrocarbons business during the nine months of the current financial year have decreased by 13 percent to Rs. 1,909 crore as against Rs. 2,197 crore in the corresponding period of last year. The
revenues from LPG transmission during the nine months of the current financial
year have increased by 16 percent to Rs. 325 crore as against Rs. 281 crore in
the corresponding period last year. The revenues from Natural Gas Trading during
the nine months of the current financial year increased by 4 percent to Rs. 14,138
crore as against Rs. 13,565 crore in the corresponding period of the last year.
The petrochemical sales during the nine months of the current financial year were 301 TMT, decreased by 3 percent from 309 TMT in the corresponding period in the previous year. The LPG transmission during the nine months of the current financial year was 2,289 TMT, up by 13 percent from 2,029 TMT during the corresponding period in the previous financial year. The LPG and other liquid hydrocarbon production during the nine month of the current financial year were 1,082 TMT, increased by 2 percent from 1,061 TMT in the corresponding period last year. The LPG and other liquid hydrocarbon sales during the nine months of the current financial year were 1,087 TMT, up 2 percent from 1,061 TMT in the corresponding period last year. (editor@thesynergyonline.com) .
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