Company Updates

Nagarjuna Fertilizers planning to invest Rs 4,500 crore on expansion

Nagarjuna Fertilizers planning to invest Rs 4,500 crore on expansionIndia's second-largest urea producer, Nagarjuna Fertilizers and Chemicals Ltd (NFCL) has indiacted that it is aiming to double its capacity at its unit in Kakinada, Andhra Pradesh with an investment of about Rs 4,500 crore.

The company said that it plans to double the capacity at the unit to 2.9 million tonne (mt) from 1.3 mt at present. A company official expressed that the company expects the new capacity will be operational by the year 2015-16.

Microsoft’s Windows Messenger service to be switched off in March

Microsoft’s Windows Messenger service to be switched off in MarchAmid the hubbub of the Consumer Electronics Show (CES) 2013 in Las Vegas, bigwig software company Microsoft revealed in an announcement that it will close its Windows Messenger service in March this year.

The announcement marks the execution of Microsoft's November-disclosed plans to pull the plug on its popular but outdated Windows Messenger instant messaging service.

Amazon offering free digital copy of purchased CDs

Amazon offering free digital copy of purchased CDsAmerican online retail giant, Amazon has announced the launch of a new service under which it will offer free digital versions of the CDs that are purchased by the customers through its store.

The company launched the new AutoRip service that will automatically store the digital copies of the CDs in a cloud based account of the customer. The customers will be able to access the stored content through Amazon's Cloud Player on the internet net on their tablet or smartphone using apps.

GAIL begins operation at 5-million tonne import facility of the Dabhol

GAIL begins operation at 5-million tonne import facility of the DabholIndia's State-run, GAIL has made its 5-million tonne a year import facility of the Dabhol power plant operational and is now looking into opportunities in shipping.

GAIL hinted that it is considering starting shipping operations in order to capitalize on the long term contracts with parties in Spain and the US. GAIL might be planning to acquire seven liquid gas shipping vessels on hire or outright purchase for its shipping venture.

Mahindra to invest $900m in SsangYong

Mahindra to invest $900m in SsangYongIndian automotive major, Mahindra & Mahindra has said that it is planning to invest about $900 million during the coming four to five years its SsangYong Motor unit.

The company is looking to develop three new vehicles and six engines at its unit in South Korea. Pawan Goenka, President for Automotive & Farm Equipment sectors, M&M said that the funds for the investment will come from internal accruals, fresh equity and debt.

RIM to introduce at least 6 new BB10 devices this year

RIM to introduce at least 6 new BB10 devices this yearDuring an interaction with Fierce Wireless at the Consumer Electronics Show (CES) 2013, Research In Motion (RIM)'s Chief Marketing Officer Frank Boulben said that RIM plans to launch as least six new devices, running the company's latest BB10 OS, this year.

GVK Bio teams up with Onconova Therapeutics to develop cancer drugs

GVK Bio teams up with Onconova Therapeutics to develop cancer drugsContract researcher GVK Biosciences Private Ltd has teamed up with Onconova Therapeutics Inc to develop new drugs for cancer.

US-based Onconova is a late-stage biopharmaceutical firm that mainly develops innovative treatments for the treatment of cancer and radiation injury.

As part of the joint partnership, the US firm will give two early-stage oncology discovery goals, and Hyderabad-based GVK will make use of its multidisciplinary discovery platform to assist moving these goals from early discovery to the stage of clinical development.

Walmart to offer no-contract iPhone 5 and iPhone 4 via Straight Talk plan

Walmart to offer no-contract iPhone 5 and iPhone 4 via Straight Talk planIn a Tuesday announcement, bigwig US retailer Walmart revealed that it will start offering its customers a no-contract iPhone 5 or iPhone 4 via Straight Talk plan for $45 per month, from Friday, January 11.

The models which will be available from Walmart under the no-contract offer will include the $649-priced 16GB version of the iPhone5; and the $449-priced 8GB version of the iPhone 4.

Louis D'Ambrosio to step down as CEO of Sears Holdings

Louis D'Ambrosio to step down as CEO of Sears HoldingsHoffman Estates-based company, Sears Holdings Corp has said that the its Chief Executive Officer Louis D'Ambrosio is set to step down from the top post on 2 February, 2013 due to family health matters.

The company also said that Chairman Edward Lampert will also look after the role of the CEO. The resignations come at a time when the company has been struggling to position itself as a department store in the highly competitive retail market.

Bank of America reaches agreement to resolve claims

Bank of America reaches agreement to resolve claimsBank of America Corp has reached agreements to resolve major issues involving the bank following the crippling economic crisis.

Varun Berry to join Britannia as new COO

Varun Berry to join Britannia as new COOBritannia Industries has announced in a press release on Monday that it has appointed Varun Berry as the company's new chief operating officer.

As the new COO, Berry will be the second most senior official in the company and will work with MD and CEO Vinita Bali. The company also said that Neeraj Chandra, who is now working as the president and COO at Britannia, will now work as the head strategy and new business development at the biscuit maker. Vinod Menon, who has been working as the head of strategy and new business development, will now work as the new VP and CFO of the company.

Marico to demerge its Kaya business into separate listed company

Marico to demerge its Kaya business into separate listed companyMarico Ltd has decided to demerge its services arm Kaya into a separate listed firm in a bid to improve valuations of the parent company.

Harsh Mariwala, chairman of packaged consumer goods firm Marico, said they were planning to demerge Kaya as the services arm required a totally different approach to grow.

Speaking on the topic, Mariwala said, "Kaya requires a completely different mindset to grow. So we have taken off the Marico hat from Kaya and unshackled it from the Marico rules."

KEC International receives orders worth Rs 1,511 crore

KEC International receives orders worth Rs 1,511 croreAn RPG group company, KEC International has announced that it has bagged orders worth a whooping Rs 1,511 crore in various sectors in different countries around the world.

Samsung expands its selection of Windows 8 touch-screen laptops

Samsung expands its selection of Windows 8 touch-screen laptopsIn a move which marks the expansion of the Windows 8-based touch-screen laptop line offered by Samsung, the company revealed in a recent announcement that its selection of Windows 8 touch laptops will now boast two new additions --- the Series 7 Chronos and Series 7 Ultra PCs.

Apple to hold its quarterly earnings conference call on January 23

Apple to hold its quarterly earnings conference call on January 23In a Wednesday announcement, tech biggie Apple revealed that it has scheduled its quarterly earnings conference call, for reporting its first quarter 2013 financial results, at 2 p. m. PST on January 23, 2013.

Apple testing ‘new iPhone, next iOS software version’: Report

Apple testing ‘new iPhone, next iOS software version’: Report Wellington, Jan 3 : Tech giant Apple has reportedly started testing a new iPhone and the next version of its iOS software, a report has claimed.

According to news website The Next Web, app developers have found in their app usage logs references to a new iPhone identifier, iPhone 6.1, running iOS 7 operating system.

Apple''s iPhone 5 bears the identifiers iPhone 5.1 and iPhone 5.2, and is powered by iOS 6 operating system.

Google services to become 30 per cent faster in India

Google services to become 30 per cent faster in IndiaGoogle services in India are expected to become about 30 per cent after as the company gets ready to make its data centre in Asia operational this year. Video sharing site, Youtube and search engine is expected to become 30 percent after new data centers become operational.

Mercedes Benz India hikes prices of all cars by 1-3%

Mercedes Benz India hikes prices of all cars by 1-3% The Indian arm of luxury car maker Mercedes Benz has declared that prices of its cars will go up by 1-3 per cent from 14th January 2013.

Announcing the increase in prices, Mercedes Benz India stressed that its decision was in response of the soaring costs, high interest rates and volatility of the Indian currency.

Announcing the decision, Mercedes-Benz India MD & CEO Eberhard Kern said, "Rising inputs cost, volatility of the rupee-euro, high interest rates and other associated factors have put significant pressure on us."

Samsung Galaxy Note II spotted in two new color variants – red and brown

Samsung Galaxy Note II spotted in two new color variants – red and brownIn an indication that the Samsung Galaxy Note II `phablet' - smartphone-cum-tablet - may well be available in two new colors, Japanese mobile news site Blog of Mobile has recently reported that the device will seemingly have two new color variants - `red' and `brown.'

The Blog of Mobile story about the two new Galaxy Note II color variants comes close on the heels of revelation, a day back, that a `Black' version of the Galaxy Note II has been spotted in the wild.

GCPL acquires Colgate-Palmolive brand in the UK

GCPL acquires Colgate-Palmolive brand in the UKGodrej Consumer Products Ltd (GCPL) has agreed to acquire the Colgate-Palmolive's Soft & Gentle brand in the UK.

Keyline Brands Ltd, a UK based subsidiary of Godrej, will acquire Soft & Gentle brand from Colgate-Palmolive, the company said in a statement. The Indian company did not announce the financial details of the deal. The company also said that Soft & Gentle reported sales of 21 million pounds in 2011 and it was UK's fourth largest female deodorant brand by market share.




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