Category Archives: Business & Economy

ISB Hyderabad to host 11th edition of leadership summit

Business & Economy, Education

Hyderabad :

 

(Indian School of Business…)
(Indian School of Business…)

Indian School of Business  (ISB) with campuses at Hyderabad and Mohali is set to host the 11th edition  of  ISB Leadership Summit  (ILS), the flagship business conclave of the Graduate Students’ Association (GSA) at its Hyderabad campus tomorrow.

In its 11th year now, the two-day ILS 2013 with the theme ‘Breaking the Myth’ will be held with participation from over 40 high-profile leaders across sectors, ISB said in a statement today.

The first look of ILS 2013 was unveiled by Vinod Khosla  co-founder of Sun Microsystems and founder of Khosla Ventures  on September 6, 2013.

The event will host key note speakers such as Vineet Nayar , Vice chairman of HCL Technologies; Banmali Agrawala, President and CEO for GE South Asia; and CP Gurnani, Managing Director and Chief Executive Officer of Tech Mahindra, the release said.

source: http://www.articles.timesofindia.indiatimes.com / The Times of India / Home> News> News By Company> Corporate Announcements / by PTI / November 07th, 2013

Buzz of activity at The Hindu Lifestyle Show in Vizag

Arts, Culture & Entertainment, Business & Economy
Shoppers visiting a stall selling artificial flowere at The HIndu Metro Plus Lifestyle Show 2013 organised at AU Engineering College Grounds Visakhapatnam on Wednesday./ Photo: C.V. SUBRAHMANYAM / The Hindu
Shoppers visiting a stall selling artificial flowere at The HIndu Metro Plus Lifestyle Show 2013 organised at AU Engineering College Grounds Visakhapatnam on Wednesday./ Photo: C.V. SUBRAHMANYAM / The Hindu

The event is being presented by Hayagriva Shoppe and associate sponsors are Prestige, SBH, and Kantipudi Nissan

The Hindu Metro Plus Lifestyle Show was inaugurated on Wednesday by VUDA Vice Chairman N. Yuvraj. He went around the exhibition pausing at every stall to enquire about the products being sold. The opening day of the exhibition had many footfalls as shoppers made use of the holiday to step out along with their family to spend time shopping and familiarizing themselves with new products.

There was a buzz of activity at the air conditioned hangar with salesmen displaying products and using their skills to sell everything from cars to brooms. Women were seen crowding around shops selling jewellery, trinkets and jute products while men were seen checking out the latest cars and gadgets.

The food stalls at the exit also saw a number of people having a snack after a shopping spree. Some of the stalls selling custom-made blinds, solar lamps, security systems and brass products saw many visitors crowding around.

The event is being presented by Hayagriva Shoppe and the associate sponsors are Prestige, SBH, and Kantipudi Nissan. The water partner is ASL Aqua, radio partner is RED FM and the event partner is I Ads and Events. There is ample space for parking vehicles. Entry tickets are priced at Rs. 30. The show will be on till October 6.

Timings are from 10 a.m to 8 30 p.m.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Visakhapatnam / by Staff Reporter / Visakhapatnam – October 03rd, 2013

IL&FS Engineering bags Rs 675 crore project

Business & Economy

Hyderabad :

Hyderabad-based infra player IL&FS Engineering and Construction Company Limited (IL&FS Engineering Services) on Friday said the company had received a letter of award (LoA) for Rs 675 crore for high rise buildings work in Mumbai.

“IL&FS Engineering Services had received a LoA from Neelkamal Realtor Tower Private Limited ( NRTPL) for construction of ‘Orchid Heights’, a high-rise residential project at Byculla in Mumbai,” the company informed the bourses on Friday.

The company said that the total value of shell and core portion of the contract is Rs 675 crore and was to be completed in 39 months from the date of commencement of work. However, the timeline for finishing and mechanical, electrical and plumbing ( MEP) work will be decided during the course of execution which will further enhance the contract value, the company added.

The Orchid Heights project is IL&FS Engineering Services’ first project in Mumbai.

“Being a very tall structure, the Orchid Heights project opens up the market for the company in this segment of high rise towers. The company now enters a select group of companies who execute such high rise buildings with modern and most sophisticated methods of system formworks and sophisticated machinery,” the company release said.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> Business> India Business / by  Swati Rathor, TNN / November 01st, 2013

India’s first aerospace park ready for take-off

Business & Economy, World Opinion

Investments worth Rs 1,500 cr committed for special eco zone

Hyderabad :

The country’s first aerospace SEZ is all set to take wings in Adhibatla on the outskirts of Hyderabad. About 20 small and medium enterprises (SMEs) and a few big players have committed an investment to the tune of Rs 1,500 crore.

Located about 15 km from the Rajiv Gandhi International Airport, the facility will see action beginning on November 4.

At least half a dozen companies will begin work on the day, when the Andhra Pradesh Chief Minister, Kiran Kumar Reddy, is expected to kickstart activity at a foundation laying function.

The Aerospace & Precision Engineering SEZ venture can provide direct employment of 10,000 and indirectly to another 18,000 in the next three years, as these manufacturing units, turn fully operational. The projected annual turnover is Rs 2,500 crore and exports to the tune of Rs 400 crore.

Among the SMEs that have taken land are Motion Dynamics, Gagan Aerospace, Aeroc Space Tech, Hemmair, Apollo Aerospace, DSR Tech, Lokesh Machine Tools, Gowra, Ratna Tools, Castall Tech, Compu Power, Rolon Seal, Revathy Industries etc., said M.M. Sreeram, Executive Director of Samuha Engineering Industries.

Samuha is a consortium of Aerospace Industries, which will anchor the development of the Aerospace Park. MTAR, SEC Industries, Ananth Technologies, Zetatek, Scarlet and SKM Technologies are the main promoters.

At present, the Tatas have made major investments in a couple of ventures in the area, including in the SEZ. In the joint venture with Sikorsky, it is manufacturing helicopter cabins. “The existence of a large number of SMEs with diverse expertise in Hyderabad has drawn the Tatas in a big way. Similarly, several other multinationals are showing keen interest,” Sreeram said.

The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has allocated 193 acres at Adhibatla. Of this, 100 acres will be for the SEZ for which the Corporation is a co-developer. The 93 acres in the domestic tariff area (DTA) has been allotted to Samuha as a lead developer and to allot land to other member units, explained Jayesh Ranjan, Managing Director of the Corporation.

The Aerospace SEZ will be developed in an integrated manner. Industries will share expertise and strengths in a symbiotic manner to meet big demands, especially that will emerge from the Defence offset policy and other strategic sectors, he told Business Line.

Thousands of crores of business is expected to flow to Indian industry as the offset makes it mandatory for winners of big Defence contracts to source at least 30 per cent of the value from domestic industry/institutes.

As part of its effort, Samuha will provide a common test facility, training centre and common marketing, HR, and procurement facilities, exhibition and guest facilities, labs said Sreeram. The equity of the shareholder units will be proportion to the land holding, he added.

Sreeram said Samuha is planning to replicate two more SEZs in the State and wanted a special task force to look into the potential of exploiting to opportunities emerging in the strategic sectors for SMEs.

source: http://www.thehindubusinessline.com / Business Line / Home> Industry> Logisitcs / by M. Somasekhar  somasekhar.m@thehindu.co.in / Hyderabad – November 01st, 2013

Pennar Inds’ arms bag Rs 60-crore orders

Business & Economy

Have received orders from L&T Metro Hyderabad for design, supply of packaged sewage treatmant

Pennar Enviro Limited (PEL) and Pennar Engineering Buildings Systems (PEBS), subsidiaries of Pennar Industries Limited, a Hyderabad-based company engaged in the production and marketing of specialised and engineered steel solutions, have received orders worth Rs 60 crore.

PEL, the water and environment infrastructure business of Pennar, has received orders from L&T Metro Hyderabad for design and supply of packaged sewage treatment plant (STP), an order for supply, erection and commissioning of an effluent treatment plant (ETP), besides contracts from Mumbai-based Chowgule Ports and Infrastructure Limited, Hetero Drugs and Park CETP.
“The company has a technical collaboration with Tech Universal of the UK, which has presence in Europe, the US and West Asia. Its references include water treatment plant (WTP) of 100 million litre per day (MLD), sea desalination of 80 MLD and STP of 70 MLD,” PEL president and chief executive officer Shreepad Purkar said in a release on Thursday.
The second subsidiary, PEBS, has received orders from Larson & Toubro, L&T Valves, Gland Pharma, Inspira Martifer, Sricity Projects, Premier Solar Energy and Balaji Produce Company .
Pennar Industries Limited’s scrip is currently trading at Rs 21.70 on the BSE, up 0.93 per cent, over the previous close of Rs 21.50.
source: http://www.business-standard.com / Business Standard / Home> Companies> News / by K Rajani Kanth / Hyderabad – October 31st, 2013

AP signs MOU with Holland for research

Business & Economy, Science & Technology, World Opinion

AP Society for Knowledge Networks and the Netherlands Organisation for Scientific Research will jointly promote research at academic institutions in Andhra Pradesh and the Netherlands.

An MoU was signed on Wednesday between IT minister Ponnala Lakshmaiah and a Netherlands team at the Secretariat.

The AP Society for Knowledge Networks will work with four hub institutes in AP–IIT Hyderabad, NIT Warangal, BITS Pilani, Hyderabad campus and IIIT Hyderabad. Each of these four institutes will in turn be responsible for guiding and fostering research in other engineering colleges in the state.

Each of these hub institutes will be guiding 100 engineering colleges with their research leadership. The funding for the projects will be provided 50 percent each by the AP Society for Knowledge Networks and the Netherlands Organisation for Scientific Research. The AP Society will fund to the tune of about Rs 10 crore initially.

Each project will have six stakeholders–three in the state and three in the Netherlands. The three stakeholders are: The academic institute concerned, along with its faculty and research students; a potential corporate player who is interested in partnering with the research effort either through funding or through intellectual participation; and the AP Society for Knowledge Networks in case of AP and the Netherlands Organisation for Scientific Research.

The deadline for submission of proposals in short format is December 1.

source: http://www.newindianexpress.com / The New Indian Express / Home> States> Andhra Pradesh / by Express News Service – Hyderabad / October 24th, 2013

Sikorsky plans to build H-92 copter cabins locally

Business & Economy, Science & Technology, World Opinion

JV with Tata Advanced Systems makes 50th S-92 helicopter cabin with 100% local components

US helicopter-maker Sikorsky Aircraft is planning to outsource more work to the Hyderabad manufacturing facility, which was set up in a joint venture with Tata Advanced Systems Limited (TASL) in 2010 to build  S-92 helicopter cabins.

Shane Eddy, senior vice president – Operations at Sikorsky, on Thursday said the company would build H-92 helicopter cabins in this facility once the orders for supply of these helicopters by the Canadian government were cleared. H-92s are civilian certified aircraft built for military operations.

Besides, the company is looking for orders from other original equipment manufacturers (OEMs) for supply of components being made by Tara Aerospace Systems Limited, the second joint venture set up here between Sikorsky and the Tatas, according to him.

These plans coincides with the complete indigenisation of S-92 helicopter cabins currently being built at this facility by TASL, which holds a 74 per cent stake in the two joint ventures while Sikorsky owns the rest.

Marking this achievement, TASL chairman S Ramadorai today personally handed over the 50th S-92 helicopter cabin and the first to be built with 100 per cent local components by the JV, to the Sikorsky official.

Eddy said the company was having enough demand for the S-92 helicopters that would require at least two years to clear the backlog.  The plant, which currently operates with two shifts a day, would start three shifts during this year. The company can expand the overall content of the aircraft from this facility, he said while admitting it was deriving significant savings on costs from the Indian manufacturing facility.

TASL now produces four S-92 cabins a month from three earlier to meet the demand as Sikorsky makes about 40 S-92 helicopters a year in its US facility. In June 2009, Sikorsky and TASL had entered into an agreement for production of S-92 helicopter cabins in India and in November 2009, the two had entered into a JV for production of more than 5,000 detailed aerospace components, which go into cabin making. The JVs with 74:26 had set up two manufacturing  facilities — one for cabin making and the other for aerospace components.

On bagging government order
On delay in the bidding process for buying helicopters for civilian purpose by the Centre, Sikorsky’s regional executive retired Air Vice Marshal Arvind Walia said they were looking forward to opening of the commercial bids soon. “Sikorsky is more than willing to provide a solution. Moreover, we are building cabins also here,” he said when asked about the company’s prospects in winning the order following the recent controversy over Italian helicopter-maker Augusta, which too is the contender for this order.

Walia, responding to a question, said the company had no problem in bringing more technology and manufacturing to India even though they were allowed to have only 26 per cent equity in the Indian joint venture. However, he said it would like to raise its equity even up to 76 per cent in future if the government  allowed.

source: http://www.business-standard.com / Business Standard / Home> Companies> News / by BS Reporter / Hyderabad – October 24th, 2013

Rs 19,000 crore for Fisheries Development in 5 years

Business & Economy, Nature

The National Fisheries Development Board (NFDB) is considering a slew of measures to enhance the quality of fish exports until they reach the consumer by applying innovative techniques and also to improve the living standards of families engaged in aquaculture, NFDB chief executive officer Dr MV Rao said here on Monday.

The Board has decided to invest `19,000 crore for various developmental activities in the present five-year plan period, he said. ‘’In this endeavor, it is planned to achieve an overall target of six per cent annual growth of fish production, two per cent in marine fisheries sector and eight per cent in inland fisheries sector during the 12th five year plan,” he added.

Talking about some of the recent activities of the NFDB, he said to facilitate  fisherwomen of East Godavari in efficient marketing and transport facilities a programme titled ‘East Godavari Maha Samakhya’ has been initiated. ‘’We have also provided fund for transport of dry fish to Bhimili fisherwomen, funded fishermen societies in Bidar for better marketing opportunities and also promoting cage culture in Chhattisgarh, Maharashtra and Jharkhand,’’ he pointed out.

He added that 22 technology upgradation projects were taken up with the support of fishery colleges and other technical institutes. ‘’Skill development and capacity building programmes were conducted for fisherfolk, farmers and officials across the country,” he added.

Along with the coastal fisheries in the state, the Board has also decided to develop inland fisheries, he said. “The state has enormous potential to develop and nurture inland fisheries,” he said.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Hyderabad / by Express News Service – Hyderabad / October 22nd, 2013

Hyd metro contract is largest for Otis

Business & Economy, Records, All, Science & Technology, World Opinion

The company will supply 670 elevators, escalators to metro rail project

The Rs 400-crore contract signed by Otis Elevator Company (India) Limited with L&T Metro Rail (Hyderabad) Limited this year is the largest-ever to be bagged by any elevator company in the country, according Goldie Srivastava, communication director of United Technologies Corporation India Limited  (UTC). Otis is a UTC company.

The contract is for supply of 670 elevators and escalators, which will be installed in over 66 stations, workshops and other buildings to be built by L&T Metro Rail. Otis will also maintain the units for 10 years after the two-year warranty period.

As far as Otis is concerned, this is one  of largest contracts it has bagged world-wide so far for supply of elevators.  The next biggest contract it had won was from Hangzhou metro line 2 in China in 2012 for installation of 349 elevators. It was the second time that the Hangzhou Metro Group had chosen Otis, after the installation of 264 elevators for metro line 1.

Otis has the distinction of supplying elevators to mass rapid transit lines in different countries, including Malaysia, Taiwan and Singapore.  In India, it had also won a contract to supply 222 escalators to the Delhi Metro Rail Corporation  Phase-III project.

Stage I of Rs 14,132-crore Hyderabad Metro Rail Limited (HMR),  comprising a stretch of 8 kilometre, is expected to be opened for public on Ugadi, the Telugu new year day, in 2015. The construction of the 72-km project, comprising three corridors, is being taken up in six stages.  Stage I is from Nagole to Mettuguda and Stage  II is from Miyapur to Sanjeevareddy Nagar, a stretch of 11 km.

source: http://www.business-standard.com / Business Standard / Home> Economy & Policy> by BS Reporter / Hyderabad – October 23rd, 2013

Pilarichettipalem’s women farmers churn out profits from small holdings

Business & Economy, Green Initiatives / Environment, Nature
Many among the 40 women farmers are now growing bitter gourd in rainy season at Pilarichettipalem village in Krishna District./ Photo: T. Appala Naidu / The Hindu
Many among the 40 women farmers are now growing bitter gourd in rainy season at Pilarichettipalem village in Krishna District./ Photo: T. Appala Naidu / The Hindu

Turn their patches of land into vegetable fields and make money round the year

Women have turned into successful farmers by developing their small holdings that were not viable to grow paddy into vegetable fields and making money round the year at Pilarichettipalem of Machilipatnam rural mandal in Krishna District.

Among the 40 women farmers engaged in producing a dozen varieties of vegetables, including leaf vegetables, most of them are landless who entered into tenancy in recent times.

Men help out

“Earlier the small holdings, not exceeding 5 cents in and around the village, were either left without any cultivation or used for cattle ground. Now, the average monthly profit has touched to Rs 5,000 to Rs 6,000 on these fields,” P. Krishna Kumari, who raises bitter gourd told The Hindu.

The women grow vegetables such as bitter gourd, ladyfinger, drumstick, green chilli to amaranth and sorrel leaves based on the weather conditions. At a distance of barely 5 km from the Krishna District headquarters, Machilipatnam, the men from these families join hands to take the produce to the market and sell at remunerative prices.

“The practice is merely to generate additional income for the family and not to lose the benefit from the fertile soil. It is clearly evident that major crops cannot be raised on these holdings due to rising input cost and thus vegetable farming has been proved viable and lucrative,” said another farmer, Yelagani Nagamani, a regular worker in the imitation jewellery industry.

Like Nagamani, every woman active in vegetable farming also had an additional source of income from cattle rearing too. Having gained experience, a clear competition exists among the women farmers on how best one can be innovative.

After the village witnessed a tremendous change brought by the women farmers, there were hardly any small holdings readily available to newcomers for farming.

“The tenancy rates have also gone up to Rs 2,500 to Rs 3,000 per year on any given small land in the village, witnessing a huge demand for them,” said other farmers.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Vijayawada / by T. Appala Naidu / Machilipatnam – September 25th, 2013