joins race to cash in on Akshaya Tritiya
Minerals and Metals Trading
Corporation (MMTC) the country''s leading trading house for precious and non-ferrous
metals, is aggressively competing with leading jewelers of Andhra Pradesh to get
a share of jewellery sales on the occasion of Akshaya Tritiya.
the first time, MMTC has opened 10 special centres in Hyderabad alone to offer
99.9 per cent pure gold and silver medallions and all kinds of articles.
has also organised a special exhibition to promote the precious metals to coincide
with Akshaya Tritiya, staggered over two days, April 19-20.
sentiments of consumers who believe that buying/gifting of gold and silver on
Akshaya Tritiya is desirable, almost all jewellers and banks have unleashed promotional
campaigns and attractive pricing packages in Hyderabad and Secunderabad.
offers gold and silver coins in 2, 5, 8, 10 and 50 g weight and 20 and 100g bars
and is also the largest supplier of precious metal gifts to corporates in the
Deccan eases rules
Budget airline Air Deccan has eased rules for booking
tickets. Airlines sources said passengers who booked their tickets on or after
April 14 this year, would be allowed to reschedule travel plans.
the airline did not allow passengers to make any changes in their travel plans.
will have to shell out a fee of Rs600 for changes in travel schedules apart from
paying the difference in fare. Moreover, if after rescheduling the fare is lower
than what the passenger has already paid the airline, the difference in fares
will not be refunded.
low cost airlines have different rules for changes in travel plans. While IndiGo
charges a fee of Rs600 for any rescheduling or cancellation in travel plans, SpiceJet
does not allow passengers to make changes in their travel plans without cancelling
the ticket first.
SpiceJet passengers want to change their Delhi-Mumbai ticket to travel Delhi-Bangalore,
they would have to cancel the ticket and rebook again, an airline official said.
Most full service
airlines such as Indian Airlines and Jet Airways allow passengers to make changes
to their travel plans without any penalty as long as a passenger has purchased
a full fare ticket. If a passenger has bought a ticket on reduced fare on a full
service airline and wants to change his travel date, he too has to pay the fare
difference to travel.
falls behind in web services ranking
Bharti Airtel and Reliance Communications
have overtaken Tata Group company VSNL in the internet services segment while
Bharat Sanchar Nigam, Mahanagar Telephone Nigam and Sify have maintained their
ranking as the top three Internet Service Providers.
has been relegated to the sixth slot having lost its position at number four to
the two private operators.
per the quarterly performance indicator report compiled by the Telecom Regulatory
Authority of India, VSNL''s Internet user base grew by only 1.3 per cent during
the period September-December 2006, taking its total subscribers base to 4.57
lakh. Against this Bharti''s Internet user base rose by 14 per cent and Reliance
reported an increase of 22 per cent to take their total numbers to 5.97 lakh and
5.4 lakh respectively.
and MTNL reported 7 per cent growth to take their subscriber base to 3.8 million
and 1.6 million respectively.
reported a 7-per cent dip in its subscriber base but continued to be at the number
three slot at 8 lakh users.
reports indicate that VSNL may be embarking on an aggressive plan based on wireless
technology to ramp up its user base.
subscribers stood at 85.82 lakh for the quarter ended December 31, 2006, compared
with 80.96 lakh during the preceding quarter registering an increase of 6 per
to return Tiger brand to Wadias
France based dairy foods company Group
Danone plans to return the Tiger brand to Britannia Industries. The brand has
been at the heart of a dispute between the Wadias and Group Danone. The Wadias
have alleged that the French group licensed its proprietary Tiger brand outside
India without its knowledge.
Wadias and Danone are equal shareholders in Associated Biscuits International
Holdings, which owns 51-per cent of Britannia''s equity. The two had entered into
a joint venture in 1992 and launched Tiger brand in 1997.
2004, the Wadias discovered that Danone was selling Tiger brand biscuits in Indonesia,
Malaysia, Singapore, Pakistan and Egypt and had in fact had registered the trademark
brand as its own in 1997 in 70 countries, receiving approvals in 35.
official of group Danone said the company had registered the brand Tiger in markets
where Britannia is not present, thereby protecting the brand from being abused
by others, with the full knowledge of the management and the board.
Wadia has however insisted that the board had not been informed of the move.
make peace with the Wadias, Danone offered Euro 1 million ($1.34 million) to Britannia
for use of the brand, but the offer was rejected.
GFA to set up doughnut
Global Franchise Architects India (GFA), the Indian subsidiary of
the Geneva-based Global Franchise Architects, which specialises in building, operating
and franchising specialty retail brands, will set up four to five doughnut kiosks
in Bangalore in the near future.
to the company there is no organised dealer of doughnuts and pretzels in India.
GFA will test the market by opening few kiosks in Bangalore first a more cosmopolitan
city than others.
around an area of 300-400 sq.ft, the doughnut kiosks will operate in malls or
multiplexes because of the ''impulsive buying behaviour'' these places offer. GFA
is not considering offering the kiosks to franchisees. GFA India has four brands
in India viz: Pizza Corner, Coffee World, New York Deli and The Cream & Fudge
& Johnson launches consumer website
Baby care specialist Johnson &
Johnson (J&J) has launched a consumer website in India called www.babycentre.in
owned by the San Francisco- based BabyCenter LLC, a company acquired by J&J
about three years ago. The website is targeted at expectant and new mothers and
covers aspects ranging from the various stages of pregnancy to caring of infants.
claims that the website has been generating a good response with the initial response
being on par with babycenter Canada, the group''s third biggest site globally.
The move indicates the importance that the consumer goods companies are giving
to the online media.
the days ahead, J&J plans to introduce an online store in the Indian site.
The only babycenter websites to provide an online shopping facility, at present,
are the UK and the US websites, which are among the biggest websites.
DuPont alleges patent infringement
US chemicals major DuPont has filed
a case in the Delhi High Court alleging infringement of its patents R-407C and
R-410A against a refrigerant reseller in India.
owns patents in India covering both R-407C and R-410A, both non-ozone-depleting
refrigerants broadly used in building air conditioning applications.
S. Baunchalk, global business manager, DuPont Refrigerants said the company would
pursue strong action to stop illegal trade of 407C and R-410A in the Indian market.
He said the protection of DuPont''s intellectual property is critical to ensuring
its continued investment in new technologies and products for the cooling marketplace.
becomes a Harvard case study
Fabindia, the craft-conscious enterprise
that has grown by leaps and bounds despite not advertising, has become a Harvard
Business School (HBS) case study.
in 1960, Fabindia makes the cut for being an example of a corporation that does
not just aim to do well, but does good too. However, the private retailer''s unique
value proposition has not come in the way of it being recognised as big brand
today. And this in spite of the fact that Fabindia has never advertised.
57 stores in India and one each in Rome, Dubai and Guangzhou, the company will
add close to 200 stores in the next four-five years. And it is also believed to
be on a look out for private equity investment.
Pru AMC offers SIPs from Rs50 onwards
ICICI Prudential Asset Management
Company has upped the ante against Reliance in the mutual fund industry by offering
Rs50 per month as the minimum investment amount in its Systematic Investment Plan
(SIP). This makes it the lowest in the industry with Reliance Mutual Fund last
week reducing the minimum investment in SIP to Rs100 per month.
fund houses claim the measure will help an increased number of investors to benefit
from investing in mutual funds. While ICICI Prudential AMC had maximum assets
in February, Reliance AMC was on top in March.
micro-SIP facility for ICICI Prudential schemes will be available from today.
The minimum redemption amount where SIP is available will be Rs500 and an entry
load of 2.25 per cent of the applicable Net Asset Value will be charged. The exit
load will be variable as per the amount invested and the duration of the scheme.
Units under the Micro-SIP will be issued only under the growth option.
other fund houses in the industry are offering minimum investments in SIP between
Rs500 and Rs1,000.
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