Max New York Life Insurance has entered into a strategic business alliance with Indian Mercantile co-operative Bank as referral partner relationship.

Under the arrangement, Max New York Life Insurance will utilize the branch network of the Bank to sell its life insurance products.

Siemens India Ltd on Tuesday informed Bombay Stock Exchange that it has transferred all its stake in its IT arm--Siemens Information Systems (SISL) to a subsidiary of Siemens AG- Siemens Corporate Finance.

Siemens' Managing Director, Armin Bruck said that realignment of software business is done to separate low and high margin business. Siemens Information Systems get
70 per cent of its revenue from its parent company.

Leading auto-major, Mahindra & Mahindra (M&M) have added another feather to its cap.

The much-awaited Mahindra XYLO was launched on Tuesday by M&M Ltd at its Nashik plant.

Two-wheeler giant Bajaj Auto is planning to launch six bigger engine bikes in the financial year 2009. The move is aimed to maintain adequate market share which is shrinking due to low demand following global financial crisis.

The new bikes are being designed to compete rival Hero Honda's best-selling Splendor/Passion range. Two more products in 125-135 cc engine size may also be launched in April and July this year. The new bikes would be launched from its Pantnagar facility from February.

With the intention to boost its declining sales figures, two-wheeler major Bajaj Auto Ltd is all set to roll out six (6) new models in 2009.

The company will start with a new product, which is due for debut on January 21. It will directly target rival Hero Honda’s most-popular Splendor/Passion range, the 135 cc XCD priced at Rs 45,000.

After this, the company will launch two new models under value-segment (125-135 cc engine size) by April and July 2009 respectively.