The see-saw battle for third position saw Tata Motors regaining its number three position in passenger vehicle sales in July 2012, after losing out to Mahindra & Mahindra (M&M) in the first quarter of FY13. The passenger vehicles sales for Tata Motors in the month of July 2012 stood at 26,240 units. Mahindra & Mahindra's sales of 22,011 units. And even the cumulative sales from April to July stood higher for Tata Motors at 86,679 units versus 83,515 units for Mahindra & Mahindra in the same period. M&M overtook Tata Motors for the first time in the first quarter of FY13 with sales of 61,504 units compared to sales of 60,405 units for Tata Motors. Maruti Suzuki is India's largest passenger car maker in volumes and Hyundai India is number two.
Construction firm IRB Infrastructure has been awarded an order worth around Rs 2,400 crore from National Highways Authority of India (NHAI). The company has emerged as the selected bidder for the the construction of four-lane road on Goa and Karnataka border to Kundapur on design, build, finance, operate and transfer basis. The project is expected to be constructed in 910 days, with a concession of 28 years. With this project, the company's order book has now reached to Rs 10,185 crore, out of which, Rs 8,145 crore is construction order book to be executed in 3-4 years.
Tulip Telecom, India's leading Enterprise Data Services provider has won a project worth Rs 87.23 crore for hosting data centre space from the Unique Identification Authority of India (UIDAI) for its Unique ID project 'Adhaar'. Tulip Telecom will host UIDAI servers from 'Tulip Data City' based out of Bangalore. The duration of this project is 3 years and is extendable further. Through this partnership, Tulip will provide premium data center space to UIDAI to host IT infrastructure that will power the World's largest database. In addition to the Data Centre space, Tulip will also be providing a support area for UIDAI. Tulip Data City, Banglore (a unit of Tulip Data Center Services Private, a wholly owned subsidiary of Tulip Telecom), is the World's third largest and Asia's largest Data Center. The facility will offer up to 900,000 sq feet of total data center space with a total planned power capacity of 100 MW. The multi-tiered facility provides customers with both tier 4 and tier 3 data center spaces.
After Oil Ministry veto, three state-owned oil firms IOC, ONGC and BPCL have decided not to press for acquiring Asian Development Bank's stake in Petronet LNG, the nation's largest liquefied natural gas importer. The ADB on August 23 last year offered to sell its 5.2 percent stake in PLL, in which GAIL, Indian Oil (IOC), Bharat Petroleum (BPCL) and Oil and Natural Gas Corp (ONGC) hold 12.5 percent stake each and have a first right of refusal. The board of all the four promoter companies approved exercising the first right of refusal over ADB stake and cash buyout of the multilateral lending agency's interest.
Two-wheeler maker TVS Motor Company reported a 15.1 percent dip in sales at 1,61,255 units in July, 2012. The city-based company had sold 1,89,962 units during the same month of last year. Sales of two-wheelers declined to 1,57,954 units in July 2012 from 1,86,672 units in July 2011. Domestic sales dipped to 1,40,822 units in July from 1,60,348 units in the same month of last year. TVS had sold 53,355 motorcycles in July, 2012 as against 70,170 units in July, 2011. Sales of scooters also fell to 40,895 units in July, 2012 from 49,333 units in the same month of last year. Exports also declined by 32.7 percent to 19,182 units in the reporting month as against 28,542 units in July last year.
AVT Natural Products is starting a wholly owned subsidiary called AVT Tea Services in London to sell decaffeinated tea and instant tea. The unit will go operational on October 1. AVT Natural Products is a part of AV Thomas Group, specializing in extraction of natural products like marigold, spices and value added teas. It also market speciality spice oils and oleoresins. AVT Natural's net profit for Q1, 2012 rose 23 % to Rs 14.28 crore compared with Rs 11.58 crore in the same quarter last year. The sales grew to Rs 72.44 crore from RS 47.84 crore.
Aiming to enhance career opportunities for tribals, the National Scheduled Tribes Finance and Development Corporation (NSTFDC) today joined hands with State Bank of India (SBI) to provide them concessional loans with flexible repayment options. Besides providing individual financial assistance, the NSTFDC will also allocate funds for income generating activities by several Self Help Group (SHGs). Under the various schemes launched by NSTFDC, tribals can avail funds for self-employment from SBI at six percent rate of interest with flexible repayment options.
Greatship Global Offshore Services (GGOS), a Singapore incorporated subsidiary of Greatship (India) (GIL), which is a wholly owned subsidiary of Great Eastern Shipping Company (GE Shipping), has delivered the 2010 built Multipurpose Platform Supply and Support Vessel -- Greatship Mamta -- to the buyers. With the delivery of Greatship Mamta, GIL and its subsidiary currently own and / or operate four PSVs, nine AHTSVs, two MPSSVs, four ROVSVs and two jack up rigs. GIL and its subsidiaries also have an order book of two ROVSVs in Sri Lanka and one 350 feet jack up rig in Dubai. Great Eastern Shipping Company (G E Shipping) is India's largest private sector shipping company. The company's major businesses include shipping and offshore.
Power major National Thermal Power Corporation (NTPC) started supplying 113 MW power to Madhya Pradesh from its Sipat facility in Chhattisgarh. The power is being supplied to Madhya Pradesh from the NTPC Sipat's Powerhouse-1's (660 MW) Unit-3. This will enable the power managers from now itself to plan supply of power during Rabi season. The NTPC will supply this (113 MW) power to the state for the next 25 years from its Sipat facility and its tariff would be fixed by the Central Electricity Regulatory Authority.