Tata Motors on Wednesday said its global sales, including Jaguar Land Rover, declined by 16.21% to 81,457 units in August 2013. The company had sold 97,225 units in the corresponding period of 2012. Global sales of all passenger vehicles in August 2013 stood at 43,474 units, down 7.77% from 47,141 units sold in August 2012, Tata Motors said in a statement. Sales of the company?s luxury brand Jaguar Land Rover, however, rose by 28.40 per cent to 30,895 units during August, compared with 24,060 units in August 2012.
Parsvnath drops plan to sell prime Delhi plot
Parsvnath Developers has dropped its plan to sell a prime land in Connaught Place, New Delhi, and will now develop a commercial building on the plot at a cost of around R70 crore to achieve better sales realisation and brand value. The company is expecting a sales realisation of over R1,000 crore from its commercial project on Kasturba Gandhi Marg with saleable/leasable area of 1.3 lakh sq ft. Parsvnath had acquired 1.18 acre of commercial plot at KG Marg in 2008 for R212 crore. By 2011-end, the company had put this plot on block for about R700 crore and had appointed Jones Lang LaSalle to find buyers.
Zensar Tech, 2 others to set up new co in S Africa
Zensar Technologies has entered into an agreement with investment fund Kapela Fund 1 and The Tomorrow Trust to set up a new broad based black economic empowered company in South Africa. Zensar will be the majority shareholder of the company expanding it?s presence in South Africa with services in many areas to new customer segments. The board will have representation from Zensar, Kapela and The Tomorrow Trust.
Escorts enters Cambodia, launches tractor range
Escorts on Wednesday said it has expanded its presence in the southeast Asian market with entry into Cambodia with its premium tractor range – 25 to 110 HP Farmtrac. It has collaborated with Tata International which will operate as the distributor (Tata South East Asia Cambodia) of the brand. These tractors are best suited for paddy, sugarcane, palm and rubber plantations.
Kyndal, JP Group form JV to sell premium spirits
Liquor firm Kyndal India on Wednesday said it along with Bangalore-based JP Group has formed a 50:50 joint venture, Terra, to market their premium portfolio of spirits. The objective of the partnership is to capitalise on the complimentary strengths of both the companies to accelerate the growth of the premium spirits in the target market, Kyndal India said in a statement.
Sesa Goa ore project in Liberia to start by Dec
Liberia on Wednesday said Vedanta Group firm Sesa Goa is likely to commence operations in its iron ore mining project by the year-end, while ArcelorMittal is set to take its ore capacity in that country to 15 million tonnes by 2015. ?Sesa Goa, which is an Indian corporate entity, is supposed to start operations by end of this year,? Liberia?s visiting nobel peace prize winning president Ellen Johnson Sirleaf said at an event, organised jointly by Ficci, CII and Assocham.
NBCC to invest R6,000 cr to build 10,000 houses
National Buildings Construction Corporation plans to build 10,000 houses over next five years in places like Bhubneshwar, Meerut, Saharanpur and Alwar with an investment of over R6,000 crore. The PSU has already acquired land at some of these places for envisaged housing projects, NBCC chairman Anoop Kumar Mittal said.
