2. Passenger car-maker GM India has drawn up
plans to invest $300 mn in the next two
years. GM is investing $300 mn in the next
two years for launching six new products.
The new products would comprise a compact
car, a sedan, multi-utility vehicles, van and
pick-ups. The company had tied up with a
consortium of banks for funding the required
investment.
3. Apparel and textile firm S Kumars Nationwide Ltd
(SKNL) is undertaking a re-positioning exercise
for its apparel brands, including Reid & Taylor
and Belmonte.
This is in keeping in tune with the growth
witnessed by the labels in the Indian market.
As a part of the exercise, the firm has invited
pitches from up to five advertising agencies for
each of the brands to carry out campaigns.
The company is likely to finalise contracts by the
end of this calendar.
4. Ratan Tata-led Tata Power aims to have at least a 25 per
cent of its power generation or around 8,000 MW from
clean sources by 2017 and will invest around Rs 5,000
crore in wind-energy alone, a top company official said.
The company, which presently has a little over 200 MW of
wind capacity, plans to give a strong thrust to wind-
energy as it is the most commercially viable and
established form of renewable energy.
The company is presently in the process of rolling-out 150
MW and an additional 750-800 MW will be added at the
rate of around 100-150 MW annually through to 2017.
5. Crompton Greaves Ltd (CGL), part of the USD 4
billion Avantha Group, today said it has become
the world's first company to develop high-range
power product -1,200 KV capacitive voltage
transformer (CVT).
Earlier, China had established the commercial
1,100 KV system successfully. Now, Crompton
Greaves has come out with 1,200 KV
transformer, becoming the first company in the
world to develop such a high range power
product.
6. Drug firm Dr Reddy's Laboratories said it has
received approval from US health regulator to
launch generic Zafirlukast tablets, used for
treating asthma, in the American market.
The approval by the US Food and Drug
Administration (USFDA) for its abbreviated
new drug application (ANDA) for Zafirlukast
tablets follows a favourable court judgment in
the patent infringement case filed against it
by patent holder Astra Zeneca.
7. The Indian hotel industry is on a rebound with
top bracket hotels in major cities and leisure
destinations reporting a surge in demand, and in
certain cases, a rise in hotel rates, for the
ongoing winter season, driven by corporate
bookings and a surge in international visitors.
Hoteliers say the bookings for the winter season
bettered their expectations to make it their best
October-February season in three years and that
the industry is on an upward cycle that will peak
in 2012.
8. Room rates and occupancy levels are yet to
match 2007-08 figures, but there are clear
signs of a pick-up in business and tourist
activity in the country after a slowdown
following the Mumbai terrorist attack in
November 2008. Domestic airlines too have
reported a jump in demand and have hiked
airfares.
