Coimbatore: KEC International, an RPG Group company, has secured orders worth Rs 1,511 crore in transmission, power system and cable businesses in India, Oman, Nepal and the Americas.
In India, it has secured two orders from Power Grid Corporation of India Ltd (PGCIL).
A Rs 286-crore order is for the supply and erection of a 800 kV HVDC transmission line in Chhattisgarh on a turnkey basis.
Another order worth Rs 386 crore is for the supply and erection of a similar line in Chhattisgarh. In addition, the company has also got a Rs 43 crore order for power and telecom cables.
In Oman, KEC has secured a Rs 602-crore order for design, supply and erection of a 400 kV transmission line from Sur to Izki grid station on a turnkey basis. The order is from Bhawan Engineering Company, Oman. The line is for the Oman Electricity Transmission Company.
In Nepal, KEC has got a Rs 131 crore order for the supply and erection of a transmission line and substation.
SAE Towers, a wholly-owned subsidiary of the KEC, has secured orders worth Rs 63 crore for the supply of lattice towers and poles to Brazil, Mexico and the US.
Success in my Habit
Monday, January 7, 2013
Geometric's German arm buys 3Cap
Mumbai: Geometric’s German subsidiary Geometric Europe GmbH has acquired 100 per cent stake in electronics engineering company 3Cap Technologies GmbH (3Cap).
“The use of embedded systems is increasing in all our customer products. This acquisition fills a major gap in the solutions we offer to our customers, while at the same time strengthening our presence in Europe. Thus, in taking this action, we address two main needs of our customers - the ability to deliver embedded systems based solutions and a stronger presence in Europe,” said Manu Parpia, Managing Director and CEO, Geometric.
About 70 per cent of Geometric’s revenues come from the US market. 3Cap is valued at €11 million of which €7.5 million will be paid up front. Geometric is funding the acquisition out of accrued cash, said a statement from the company.
The balance of payments will be subject to earn out under mutually agreed terms and conditions, over a maximum period of 3 years.
“The use of embedded systems is increasing in all our customer products. This acquisition fills a major gap in the solutions we offer to our customers, while at the same time strengthening our presence in Europe. Thus, in taking this action, we address two main needs of our customers - the ability to deliver embedded systems based solutions and a stronger presence in Europe,” said Manu Parpia, Managing Director and CEO, Geometric.
About 70 per cent of Geometric’s revenues come from the US market. 3Cap is valued at €11 million of which €7.5 million will be paid up front. Geometric is funding the acquisition out of accrued cash, said a statement from the company.
The balance of payments will be subject to earn out under mutually agreed terms and conditions, over a maximum period of 3 years.
Mobile internet users to touch 130-million in a year
New Delhi: With affordable Internet-enabled tablets and smartphones flooding the market, nearly 130 million users are set to access the Internet in the country through such mobile devices by next year.
According to a joint study by the Internet and Mobile Association of India (IAMAI) and IMRB, India will have 130.6 million mobile internet users by March 2014.
In December 2012, the number of users accessing Internet through mobile devices was 87.1 million. These mobile devices include laptops with dongles, tablet, dongles that connects to Internet .
According to the report, mobile Internet users who accessed the Net through mobile phones are warming up to spending a considerable amount of money on data services. While online games are accessed by nearly 50 per cent of the Mobile Internet users, less than 30 per cent of users read online news and watch online videos, it said.
The report finds that an average monthly bill of a user who accesses Internet on mobile devices is Rs 460 of which Rs 198 is spent towards internet expenses.
“This is a very healthy trend as it shows willingness of the users to spend nearly 40 per cent of the bill towards Internet access. The rest of the amount is spent on voice services,” the report said.
Besides, Email, social networking services (SNS) and messengers have high usage among mobile internet users.
The data may cheer up the mobile service providers who for long were pushing high-margin data services to the customers. The voice services is a low margin business as the tariff for voice calls are very low in India.
According to a joint study by the Internet and Mobile Association of India (IAMAI) and IMRB, India will have 130.6 million mobile internet users by March 2014.
In December 2012, the number of users accessing Internet through mobile devices was 87.1 million. These mobile devices include laptops with dongles, tablet, dongles that connects to Internet .
According to the report, mobile Internet users who accessed the Net through mobile phones are warming up to spending a considerable amount of money on data services. While online games are accessed by nearly 50 per cent of the Mobile Internet users, less than 30 per cent of users read online news and watch online videos, it said.
The report finds that an average monthly bill of a user who accesses Internet on mobile devices is Rs 460 of which Rs 198 is spent towards internet expenses.
“This is a very healthy trend as it shows willingness of the users to spend nearly 40 per cent of the bill towards Internet access. The rest of the amount is spent on voice services,” the report said.
Besides, Email, social networking services (SNS) and messengers have high usage among mobile internet users.
The data may cheer up the mobile service providers who for long were pushing high-margin data services to the customers. The voice services is a low margin business as the tariff for voice calls are very low in India.
IIM-Raipur signs MoU with France's B-school
Mumbai: Indian Institute of Management, Raipur, has signed a Memorandum of Understanding ( MoU) with France-based Grenoble Ecole de Management for student and faculty exchange programmes, collaborative research projects and organisation of joint academic and scientific activities.
The institutions will accept post-graduate students from each other, starting from academic year 2013-14. They will also exchange up to five students for a semester/term of study each academic year. No tuition fee will be charged by the partner or host institution.
Grenoble Ecole de Management has 10 sites abroad. They are based in China, Georgia, Lebanon, Morocco, Russia, Saudi Arabia, Singapore, Switzerland, the UK, and the US.
The cooperation program aims to foster advancement in teaching, research, cultural understanding, as well as international reputations of both institutions through the exchange of postgraduate students, faculty members, and academic information and materials; the organisation of joint corporate training programs, joint research programs, joint conferences; and other academic exchanges that both institutions agree to.
Grenoble Ecole de Management and IIM-Raipur will also exchange faculty members, which will create a base for the development of joint training programmes, formulating joint research projects, exchange of teaching materials, and so on.
The institutions will accept post-graduate students from each other, starting from academic year 2013-14. They will also exchange up to five students for a semester/term of study each academic year. No tuition fee will be charged by the partner or host institution.
Grenoble Ecole de Management has 10 sites abroad. They are based in China, Georgia, Lebanon, Morocco, Russia, Saudi Arabia, Singapore, Switzerland, the UK, and the US.
The cooperation program aims to foster advancement in teaching, research, cultural understanding, as well as international reputations of both institutions through the exchange of postgraduate students, faculty members, and academic information and materials; the organisation of joint corporate training programs, joint research programs, joint conferences; and other academic exchanges that both institutions agree to.
Grenoble Ecole de Management and IIM-Raipur will also exchange faculty members, which will create a base for the development of joint training programmes, formulating joint research projects, exchange of teaching materials, and so on.
Factory output grows to 6-month high, says HSBC index
Mumbai: India’s manufacturing sector growth expanded to a six-month high in December, according to the HSBC Purchasing Manager’s Index (PMI), which stood at 54.7.
In November, the index stood at 53.7. A figure above 50 indicates expansion.
“Activity in the manufacturing sector picked up again led by faster output growth and a further uptick in new orders, which led to a faster increase in backlogs of work as companies struggled to keep up with demand. Moreover, final goods inventories’ depletion continued, which suggests that output growth is likely to hold up in coming months,” Leif Eskesen, Chief Economist for India & ASEAN at HSBC, said.
The report compiled by financial information services company Markit on behalf of HSBC said that output at manufacturing companies in India rose during December, amid reports of higher order book volumes. “The volume of incoming new work at manufacturers in India increased in December. New export orders also expanded, and at a solid pace. Anecdotal evidence suggested that total new work rose in line with the launch of new products and strengthening demand,” the report said.
However, there was only a slight improvement in employment in the manufacturing segment in December.
About five per cent of monitored companies reported increased staffing levels, while majority (91 per cent) indicated no change as labour shortages and demand for higher wages weighed on employment.
In November, the index stood at 53.7. A figure above 50 indicates expansion.
“Activity in the manufacturing sector picked up again led by faster output growth and a further uptick in new orders, which led to a faster increase in backlogs of work as companies struggled to keep up with demand. Moreover, final goods inventories’ depletion continued, which suggests that output growth is likely to hold up in coming months,” Leif Eskesen, Chief Economist for India & ASEAN at HSBC, said.
The report compiled by financial information services company Markit on behalf of HSBC said that output at manufacturing companies in India rose during December, amid reports of higher order book volumes. “The volume of incoming new work at manufacturers in India increased in December. New export orders also expanded, and at a solid pace. Anecdotal evidence suggested that total new work rose in line with the launch of new products and strengthening demand,” the report said.
However, there was only a slight improvement in employment in the manufacturing segment in December.
About five per cent of monitored companies reported increased staffing levels, while majority (91 per cent) indicated no change as labour shortages and demand for higher wages weighed on employment.
UK clothing co Superdry plans 20 stores over 5 years
Mumbai: British clothing brand Superdry is betting big on India, its first entry in any BRIC market, and expects to make it one of its most successful with Mukesh Ambani's Reliance Brands as its local partner.
The London Stock Exchange listed-Supergroup, which owns the brand worn by celebrities like David Beckham, Justin Bieber, Kristen Stewart, Ben Stiller, among others, will open 20 stores in the first five years of being in India, James Holder, founder of Superdry told TOI in an exclusive chat.
Hollister, by American retailer major Abercrombie & Fitch competes globally with Superdry. Inspired by vintage styling and Japanese graphics, the brand has been growing aggressively internationally with presence across mainland Europe, US and some parts of the Middle East.
"We have come to India before China, Brazil and Russia because of the cultural fit that this market offers to us. We have signed the longest agreement with any partner so far here in India which shows our commitment to this market," Holder said. Superdry is still evaluating an entry into China, a country which is usually the first point of entry for global brands to the emerging markets.
Reliance Brands, which retails an array of international labels including Ermenegildo Zegna, Diesel, Quiksilver, Kenneth Cole and Brooks Brothers among several others, has signed a 20-year licensing deal with the British fashion brand. Reliance Brands, a subsidiary of Reliance Retail, will open seven stores for the brand over the next six month and plans to establish presence even in tier two cities.
Superdry has 82 stores in the UK, 88 stores across mainland Europe, and 58 flagship stores in the rest of the world. The UK market brings in as much as 60% revenue for the ten-year old brand.
"Over the years the clothing market for Indian youth has been largely about denims but things are changing now. Superdry does not really compete with anyone at the moment, the idea is to build a connect with the youth through various events, social media etc," said Darshan Mehta, chief executive of Reliance Brands.
Operating at the Rs 3,000- 8000 price point it will compete with the likes of Tommy Hilfiger and Calvin Klein on the pricing front.
Mehta said existing brands in the group's portfolio such as Quiksilver and Roxy, which fall in the outdoor sports lifestyle category, will not directly compete with Superdry instead will help grow the market.
Although, Superdry has its core market across the 15-25 year olds, it is popular between the ages 30-45 among both men and women, Holder said . Recently, Sanjay Lalbhai-led Arvind Ltd brought in the $1.5 billion Australian surfwear brand Billabong to India in order to cash in on the youth fashion segment.
The London Stock Exchange listed-Supergroup, which owns the brand worn by celebrities like David Beckham, Justin Bieber, Kristen Stewart, Ben Stiller, among others, will open 20 stores in the first five years of being in India, James Holder, founder of Superdry told TOI in an exclusive chat.
Hollister, by American retailer major Abercrombie & Fitch competes globally with Superdry. Inspired by vintage styling and Japanese graphics, the brand has been growing aggressively internationally with presence across mainland Europe, US and some parts of the Middle East.
"We have come to India before China, Brazil and Russia because of the cultural fit that this market offers to us. We have signed the longest agreement with any partner so far here in India which shows our commitment to this market," Holder said. Superdry is still evaluating an entry into China, a country which is usually the first point of entry for global brands to the emerging markets.
Reliance Brands, which retails an array of international labels including Ermenegildo Zegna, Diesel, Quiksilver, Kenneth Cole and Brooks Brothers among several others, has signed a 20-year licensing deal with the British fashion brand. Reliance Brands, a subsidiary of Reliance Retail, will open seven stores for the brand over the next six month and plans to establish presence even in tier two cities.
Superdry has 82 stores in the UK, 88 stores across mainland Europe, and 58 flagship stores in the rest of the world. The UK market brings in as much as 60% revenue for the ten-year old brand.
"Over the years the clothing market for Indian youth has been largely about denims but things are changing now. Superdry does not really compete with anyone at the moment, the idea is to build a connect with the youth through various events, social media etc," said Darshan Mehta, chief executive of Reliance Brands.
Operating at the Rs 3,000- 8000 price point it will compete with the likes of Tommy Hilfiger and Calvin Klein on the pricing front.
Mehta said existing brands in the group's portfolio such as Quiksilver and Roxy, which fall in the outdoor sports lifestyle category, will not directly compete with Superdry instead will help grow the market.
Although, Superdry has its core market across the 15-25 year olds, it is popular between the ages 30-45 among both men and women, Holder said . Recently, Sanjay Lalbhai-led Arvind Ltd brought in the $1.5 billion Australian surfwear brand Billabong to India in order to cash in on the youth fashion segment.
Aurobindo gets USFDA nod for migraine drug
Hyderabad: Aurobindo Pharma Ltd has received final approval from the US Food & Drug Administration to manufacture and market Rizatriptan Benzoate tablets.
Rizatriptan Benzoate tablets are the generic equivalent of Merck and Co’s Maxalt tablets and are indicated for the acute treatment of migraine with or without aura in adults and in paediatric patients of 6-17 years old.
The annual sale of the product is approximately $300 million for the 12 months ended March 2012, according to IMS.
The product was ready for launch, the Hyderabad-based company said in a release.
Rizatriptan Benzoate tablets are the generic equivalent of Merck and Co’s Maxalt tablets and are indicated for the acute treatment of migraine with or without aura in adults and in paediatric patients of 6-17 years old.
The annual sale of the product is approximately $300 million for the 12 months ended March 2012, according to IMS.
The product was ready for launch, the Hyderabad-based company said in a release.
L&T Fin completes acquisition of Family Credit
Mumbai: L&T Finance Holdings Ltd has completed the acquisition of auto finance company Family Credit Ltd, said in a filing with the Bombay Stock Exchange.
In October 2012, L&T Finance Holdings had agreed to pay Rs 120 crore for acquiring Family Credit, a unit of France-based Societe Generale Consumer Finance.
Family Credit had a loan book size of Rs 1,287 crore as on end-June 2012. Of this, two-wheeler financing constituted 53 per cent and car financing, 35 per cent.
“The business synergises well with our existing retail financing business and provides opportunity for us to further expand our product offering in the consumer finance domain,” Y. M. Deosthalee, Chairman and Managing Director, L&T Finance Holdings, had said during the October announcement.
Shares of Mumbai-based L&T Finance Holdings ended at Rs 93.05, up 4.55 per cent on the Bombay Stock Exchange.
In October 2012, L&T Finance Holdings had agreed to pay Rs 120 crore for acquiring Family Credit, a unit of France-based Societe Generale Consumer Finance.
Family Credit had a loan book size of Rs 1,287 crore as on end-June 2012. Of this, two-wheeler financing constituted 53 per cent and car financing, 35 per cent.
“The business synergises well with our existing retail financing business and provides opportunity for us to further expand our product offering in the consumer finance domain,” Y. M. Deosthalee, Chairman and Managing Director, L&T Finance Holdings, had said during the October announcement.
Shares of Mumbai-based L&T Finance Holdings ended at Rs 93.05, up 4.55 per cent on the Bombay Stock Exchange.
MindHelix selected for US start-up programme
Kochi: MindHelix Technosol, aStartup Village company here, has been selected by the US-based Alchemist Accelerator Programme for enterprise product start-ups.
MindHelix has created a cloud computing based customer interaction application, which has been selected for the Accelerator, the company said in a statement. It had also created the TukTuk Meter, a mobile application that went viral in 2011.
Many investors, including multi-billion-dollar investment firm Khosla Ventures and CISCO back the Alchemist Accelerator, MindHelix said in a statement.
“MindHelix’s achievement clearly shows that Indian Startups are truly global and can compete with the ones in the US,” said Kris Gopalakrishnan, Infosys Executive Co-Chairman, who is also the chief mentor of Startup Village. “Platforms such as Startup Village can be a great launch pad for start-ups like MindHelix where they can grow and go global,” he added.
The Accelerator based in Menlo Park, San Francisco, runs a programme for six months incubating 12 enterprise-centric start-ups and MindHelix is the only international start-up in the group.
The programme allocates $30,000 in seed funding to each firm and also provides these startups the opportunity to showcase their products to Fortune 100 companies in the US.
MindHelix has already acquired customers in hospitality, banking sectors and also government agencies across multiple states in India. The MindHelix team will be moving to US for the programme.
MindHelix has created a cloud computing based customer interaction application, which has been selected for the Accelerator, the company said in a statement. It had also created the TukTuk Meter, a mobile application that went viral in 2011.
Many investors, including multi-billion-dollar investment firm Khosla Ventures and CISCO back the Alchemist Accelerator, MindHelix said in a statement.
“MindHelix’s achievement clearly shows that Indian Startups are truly global and can compete with the ones in the US,” said Kris Gopalakrishnan, Infosys Executive Co-Chairman, who is also the chief mentor of Startup Village. “Platforms such as Startup Village can be a great launch pad for start-ups like MindHelix where they can grow and go global,” he added.
The Accelerator based in Menlo Park, San Francisco, runs a programme for six months incubating 12 enterprise-centric start-ups and MindHelix is the only international start-up in the group.
The programme allocates $30,000 in seed funding to each firm and also provides these startups the opportunity to showcase their products to Fortune 100 companies in the US.
MindHelix has already acquired customers in hospitality, banking sectors and also government agencies across multiple states in India. The MindHelix team will be moving to US for the programme.
Sebi further relaxes FII debt allocation method
New Delhi: Capital market regulator Securities and Exchange Board of India ( Sebi) on Tuesday said the re-investment facility for foreign institutional investors ( FIIs) and sub-accounts will also be applicable for limits acquired even before January 2012. In November, Sebi had allowed reinvestment of 50 per cent of debt holdings at the end of a calendar year during the next calendar year. Sebi also said for those FIIs, which did not hold any debt investment limits as on January 3, 2012, and the purchased debt investment limits thereafter, shall be allowed a cumulative re-investment facility to the extent of 50 per cent of their maximum debt holding at any point of time during the calendar year 2013.
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