Reliance MediaWorks to restructure business

MUMBAI: Reliance Mediaworks Ltd , part of billionaire Anil Ambani's group, said on Thursday its board will explore options for restructuring its business, including creating subsidiaries for exhibition and film and media services divisions. The restructuring will help position the film and entertainment services company to pursue strategic growth and enable it to boost revenues and profitability as well as expand products and service offerings, it said in a statement. Its film and media services division is expected to be a dominant contributor of revenues with over 60 percent share in FY13, it added. "This strategic structuring initiative will enable us to effectively pursue the best business opportunities available to each operating unit independently," Chief Executive Anil Arjun said in the statement. Reliance MediaWorks has also received board approval to raise upto 5 billion rupees through a rights issue for "substantially reducing the debt, incurred for creating the asset base."

TVS Motor to invest in West Bengal-based plant

TVS Motor Co., India's No. 3 two-wheeler maker, said on Saturday, it will invest in the spin-off entity carved out of Mahabharat Motors Manufacturing Co., after required regulatory and legal clearances. The company, however, did not say how much it will invest. TVS Motor, which had entered into an initial pact with West Bengal-based Mahabharat in 2008 for providing technical support to later's plant, will thereby take a larger role in the spin-off entity that makes two-wheelers, it said in an emailed statement. TVS, which has plants in Tamil Nadu, Karnataka and Himachal Pradesh to make two- and three-wheelers, will retain the existing staff and workers of Mahabharat Motors and hopes to make around 1,000 motorcycles per month initially, it said. Mahabharat's manufacturing plant had commenced production in September 2010, it added.

Wheels India plans to foray into air-suspension for trucks and trailers

CHENNAI: Leading steel wheels manufacturer Wheels India today said it plans to enter into manufacturing of air-suspension for truck and trailers. "On the suspension side, we have been predominantly looking at bus suspension. We are now increasingly looking to enter into domain of truck suspension and trailer suspension, Wheels India Managing Director Srivats Ram told reporters. The company is also working on ambulance system, he added. He said as far as wheels are concerned there is demand, "but on the suspension products, what we are trying to do is to create a demand in this segment." On their future plans, he said the company proposed to increase the capacity of its five plants to 15 million wheels by next year from the present 13 million wheels at an investment of Rs 70 crore. "Presently, we are producing 12 million wheels (across five plants). We will be adding another million and half capacity over the next year. Right now, we can reach up to 13 million wheels ... next job is to reach 15 million... that may be by next year," Ram said. Of the Rs 70 crore, "bulk" of the investments would go into their two plants in Chennai. On their technical collaboration with Japanese-firm Topy Industries, he said, "By tying up with Topy Industries, we get involved in early product development and design. As a result, there is a possibility for us to become a preferred supplier (to the customers of Topy Industries)," he said. Asked about the company's manufacturing plant at Wardha in Maharashtra, where it is diversifying into power sector, he said the plant would break even by the fourth quarter of 2011. "We have invested around Rs 25 crore. We started last year, it is expected that fourth quarter of this year, we will break even," he said. In the first phase, the company plans to manufacture critical structurals like auto-weld beams, boxes, columns and girders for large boilers made by some of the biggest power plant suppliers, and other applications. On the outlook for this financial year, he said the domestic market has been sluggish in the first quarter and is likely to remain so in the third quarter as well. However, "We expect fourth quarter to be strong," he said.

CBI joins Facebook, seeks netizens help

The Central Bureau of Investigation has joined social networking site Facebook in a bid to get help from people in cracking cases. CBI sources said the idea of going online is first being implemented by its Bhopal unit on experimental basis which will be further followed by all its wings after assessing people's response. The sources said the agency is garnering good response from internet surfers and getting information from all concerned. "Our Bhopal unit is on Facebook. People can share any information which they feel can be of some use to CBI. We will assess people's response through this and if its found encouraging we may plan the same for other units too," a senior CBI official said. The agency will seek help in cracking the murder case of Bhopal-based RTI activist Shehla Masood through its Facebook account. "We are getting some help related to Shehla's case. Though it has been transferred to our Delhi unit, we feel the information may be of some use to us. The information, after cross verification, will be passed on to concerned officials probing the matter," another CBI official working with Bhopal unit, said. Masood was shot dead outside her residence in the posh Koh-e-Fiza locality in Bhopal on August 16. The case is being probed by the agency's Delhi-based Special Crime Unit. The CBI, which remains clueless in the case, had announced an award of Rs five lakhs in September for anyone providing credible information about the murder.

Indian software companies like Flipkart, Makemytrip, InMobi inching close to $1 bn valuations

Several Indian software product companies now command or are close to commanding valuations of $1 billion, a sign that the software products space is coming of age in a country whose strength in technology has so long been in services. Online travel company Makemytrip, which listed on the Nasdaq last year, had a valuation $1.13 billion at close of trade on Monday. Mobile ad network InMobi, which closed a $200 million funding in September, is close to touching a billion dollar valuation. Bankers say that online retailer Flipkart, which is reportedly in talks with General Atlantic and Carlyle to raise about $150- $200 million in funding, is valued at close to $1 billion. Sharad Sharma, co-chair of the Nasscom Product Forum, said there are other product companies that could touch the $1 billion mark in the next couple of years. Nasscom is holding a product conclave in Bangalore on November 9-10. "Every year I expect at least one product company to hit the $1 billion valuation mark. Those like Zoho and Druva Software are in line to become billion dollar companies," he said. He said that some of the successful product start-ups are now setting templates for others to follow, just like what TCS did for IT services companies in the 1990s. The lower cost of establishing businesses, thanks to cheap online marketing platforms and technologies is helping product

Google chairman says will not favour Motorola

The executive chairman of Google Inc on Tuesday played down concerns that the search giant would give preferential treatment to Motorola Mobility Holdings after its planned purchase of the firm, saying the deal would not violate the openness of its Android operating system. "We will run (Motorola) sufficiently and independently in a way that will not violate Android's openness...we're not going to change in any material way the way we operate," Eric Schmidt said at a press conference on a visit to South Korea.

India to be ranked 3rd largest Internet market after China and the US

By the end of this year, one in every 10 Indians will be an Internet user, making the country the third-largest Internet market in the world afterChina and the United States. At the end of December, 121 million Indians will be accessing the Internet at least once a week to check emails, chat or log on to a social network, a survey has found. India is adding Internet users at the rate of almost 5-7 million a month, and at the current pace it will surpass the US, which has about 245 million users, in less than two years. According to the survey by IMRB and the Internet &Mobile Association of India, the country's Internet population was about 112 million by September. When this year ends, about 9 million more will be added, making India one of the world's top markets for Net-based businesses. The profile of users is evolving rapidly, showing that the medium has made deep inroads into smalltown India and among the less affluent. There are more Internet users in towns with a population of less than 5 lakh than in the top eight metros put together. Schoolchildren make up more than a fifth of the users and more than one in 10 belong to the lowest socio-economic groupings. The Internet explosion is also rapidly opening up markets for online businesses, consumers and retailers. For entrepreneurs such as Deepinder Goyal, founder and CEO of Zomato.com, the Internet is changing the business landscape forever in favour of India. "Now startups look to India when planning to start a business... earlier they would flock to the US," he said. The number of customer visits to his site, which provides listings of restaurants, has doubled in the past six months to 2 million. "We are seeing 10% week-on-week growth." About 2 billion people worldwide access the Internet and 25% of them are from China. India contributes about 6% to the world's Net population and the US 12.5%.

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HTC beats Samsung in American smartphone market with 24% Share

HTC edged out Samsung Electronics to become the largest smartphone vendor in the US, capitalising on the Android platform's popularity and a lull in demand for iPhones to overtake Apple and Research In Motion. A 10 percentage-point jump in share from a year earlier gave Taoyuan, Taiwan-based HTC 24% of the world's largest smartphone market in the third quarter, ahead of Samsung's 21%, Palo Alto, California-based researcher Canalys said in a statement on Tuesday. Apple fell to third at 20% while RIM, maker of the BlackBerry, had 9%. HTC, which made the world's first phone using Google's Android in 2008, benefited from strong relationships with US carriers and made different models for each operator. Apple's iPhone 4S and new devices from Suwon, South Korea-based Samsung may help the two global smartphone leaders gain share in the US this quarter as HTC forecasts its first shipment decline in almost two years. "Because iPhone 4S wasn't yet ready during the quarter, there was a window of opportunity for others, and HTC benefited from this," said Wang Wanli, who rates the stock "buy" at RBS Asia in Taipei. "HTC has historically done more customisation of handsets, which has made operators more willing to market and sell their devices." APPLE, SAMSUNG HTC sells its high-end models, which include faster processors and higher-quality cameras, for less than similar Samsung products, Wang said. Samsung offers more low-price models overall, bringing its average sales price below the Taiwanese company's, he said. HTC and Samsung benefited from the rising popularity of the Android operating system, while Cupertino, California-based Apple was affected by consumers awaiting the next iteration of the iPhone, Canalys said. Android has 44% of the US market for smartphones in use, Apple's iOS has 27%, and the BlackBerry OS 20%, Reston, Virginia-based Com-Score said earlier this month. Samsung and Apple are the two largest smartphone vendors globally, followed by Nokia, UK researcher Strategy Analytics said last week.