Thales, Samtel sign up to develop avionics equipment
New Delhi: Thales and Samtel Displays Systems Ltd announced on Tuesday that they were extending their cooperation in the domain of avionics equipment.

Thales and Samtel would work, towards the development, production and sale of new cockpit display systems for both the domestic and export markets, an official statement said.

The cooperation generates the opportunity for creation of a joint company in India, the statement adds.
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Tata Sons create new financial subsidiary 'Tata Capital'
Mumbai: The Tata Group, today announced having formed a new, wholly owned company to undertake new activities in the financial services. The new entity, Tata Capital Ltd, will be a wholly-owned by Tata Sons Ltd, the holding company of the group, a Tata Sons.

These companies are Tata AIG Insurance, Tata Asset Management, which manages the Tata Mutual Fund and Tata Investment Corporation. Tata Sons has a direct and substantial holding in all these companies.

Tata Capital will enter areas such as capital market services, merchant banking, housing finance and private equity investments, assets and vehicle financing, retail finance and other related areas.

These businesses would be undertaken either in subsidiary companies or divisions of Tata Capital, depending on regulatory requirements, the release said.

The existing Tata companies in the financial services area would continue to remain separate entities and function as at present.
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Hyundai Heavy to invest Rs260 crore construction machinery project near Pune
Mumbai: South Korean heavy engineering giant Hyundai Group will invest about Rs260 crore for setting up a construction equipment plant at Chakan near Pune in Maharashtra.

Hyundai Heavy Industries (HHI), a subsidiary company of the Hyundai Group, signed a memorandum of understanding (MoU) with the Maharashtra government for setting up the plant.

The MoU was signed by state principal secretary (industries) VK Jairath and Hyundai chief operating officer, KH Park, in the presence of industries minister Ashok Chavan.

The factory will initially produce hydraulic excavators and will later add production lines for other construction equipment.

Production will commence in the next two years with initial production capacity of 3,500 units per year. The facility will have a fabrication shop, assembly lines and a paint shop. The company plans to increase the rate of localisation of components to 80 per cent within the next five years.

HHI estimates the demand for construction equipment in India to go up as in the case of China, where the company has nearly 18 per cent of the market share.
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Diamond bourse to open by Diwali, plans to corner 90% trade
Mumbai: The opening of the ambitious Bharat Diamond Bourse (BDB) at the Bandra-Kurla Complex in Mumbai this Diwali is expected to make India a diamond trading hub in the next two years.

"We intend to commence trading at the bourse by Diwali as it is an ideal time for members to shift their business," BDB president Anoop V Mehta said.

"As an international destination, the Bharat Diamond Bourse aims to further enhance India's position in the world diamond market once it becomes fully operational by October- November," he said.

With world-class facilities under one roof, the bourse would contribute to 90 per cent of country's diamond trading activity, Mehta said, adding that BDB would benefit the entire diamond trade.

Bharat Diamond Bourse is establishing an 18 lakh sq ft complex at Bandra-Kurla Complex, a business district in the suburbs, at an estimated cost of Rs900-1,00 crore.

BDB would offer diamond traders strong rooms, lockers and customs clearance facilities with all modern facilities required to carry day-to-day business. BDB is anticipating to deal with over 30,000 people a day.

"The main objective is to establish a bourse for promotion and export of diamonds and to provide infrastructure and other facilities in India for domestic and overseas buyers and sellers of diamonds," Mehta said.
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South Indian star Trisha is brand ambassador for TVS Scooty PEP
Mumbai: TVS Motor Company announced today that it has signed on popular Southern actress Trisha Krishnan as its Brand Ambassador for TVS Scooty PEP, India's most preferred scooterette.

Trisha and Scooty Pep have a lot in common; both are hugely popular, style icons in their category and have delighted consumers for several years. A new print and television advertising campaign on the campaign with Trisha has just been released in the media.

TVS Motor Co today is a leader in the scooterette segment. The 'Scooty' brand has become a generic brand in the segment and is considered a dream vehicle for young college girls and working women.

TVS Scooty PEP is a stylish convenient Scooterette targeted at the youth. PEP is a four stroke, sub 100 CC Scooterette with the best in class styling and convenience features.

In its continuing efforts to delight customers, Scooty Pep+ has launched a range of vibrant feminine colours including Purple and Perky Pink which are the hottest selling colours in the market today.

Under this campaign, a customer can choose from a range of 99 shades, available for a nominal premium of Rs999 to Rs1899 (exclusive of taxes). These shades are available in a choice of vibrant solids, glossy metallics and premium dual-tone pearl finish.
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Wipro named leader in Global IT Infrastructure Outsourcing: Forrester Report
Bangalore: Wipro Technologies, the global IT services division of Wipro Limited today announced that it was named a leader in global IT Infrastructure Outsourcing in the recently published market assessment report "The Forrester Wave: Global IT Infrastructure Outsourcing, Q2 2007" (June 2007).

Forrester included 19 providers in the study - only the strongest global firms with a track record of success in the infrastructure space were able to be included in this study. "Wipro scored well overall on the infrastructure service market presence metrics and surpassed all the India-based provider firms in the category.

"Wipro was a pioneer in the India-based remote infrastructure service market, and now it has Global Command Centers located in the USA, UK, and the Middle East in Dubai - as well as multiple sites within India", states the report by Forrester Research.

"Wipro's extremely strong value proposition emphasizes transformation and innovation and drives productivity improvements. It was also notably the only respondent that included a revenue goal that is tied to innovation."

Wipro had the highest score in strategy. According to the Forrester Research report, "Wipro's extremely strong value proposition builds on a solid foundation of promises for ongoing transformation and innovation through consolidation, standardization, and virtualization."
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Tata Tele launches "Freedom Call Voucher"
Tata Indicom has announced the launch of 'Freedom Call Voucher' that would offer free and unlimited outgoing calls to any local Tata (fixed and mobile) phones.

The voucher is available for Rs325 for 30 days and gives Rs150 bonus talk time for other calls. For other phones, it offers 0.49 per minute to other mobiles and 0.99 per minute to any other local fixed line.
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