IT firm Rolta India on Wednesday said it has received a multi-million dollar contract from Sadara Chemical Company. Under the deal, Rolta will implement a comprehensive engineering system at Sadara?s complex, which will be the world?s largest petrochemical facility ever built in a single phase, Rolta said. Specific value of the contract was not disclosed. The project will be managed by a global Rolta team working out of the US, India and Saudi Arabia, and will be completed by late 2014, the statement said.
Bajaj Auto launches Discover 125 T
Bajaj Auto is trying to consolidate its leadership position in the executive segment with the launch of Discover 125 T. The bike will help futher consolidate its leadership position in the 1.6 lakh units per month executive segment, said Bajaj Auto general manager Aswin Jaikanth. The national launch was held in Chennai on Wednesday. ?The move is aimed at not only reviving the sagging demand currently but also to push volume growth further in the years to come. We have sold over 4.5 lakh units between the existing two products Discover 100 T and Discover 125 ST across the country in the last one year,? he said.
Texas Instruments India head moves to US
Bobby Mitra, president and managing director of Texas Instruments (TI) India, has been appointed worldwide director for TI?s Industrial Systems, and will relocate to the US. Mitra has also been named chairman of TI India operations. In his new role, Mitra will be responsible for managing engineering, and marketing and applications for TI?s industrial systems. The company said Santhosh Kumar has been named the new MD for India operations. Prior to this announcement, Kumar was responsible for leading the company?s video and advanced driver assistance systems product teams based out of the US. Kumar has also held several R&D leadership roles in TI India.
by 4% from July 15
German luxury carmaker Audi has announced a price hike of 4% from July 15 across its model range to offset the rising cost of imports with the weakening of the rupee. ?The overall market scenario is challenging. The depreciating rupee and rise in input cost have made us re-evaluate our pricing strategy in India. However, we are offering the customers customised and innovative finance options from Audi Finance which will make their purchase more attractive,? said Audi India head Michael Perschke. The Audi Q5 price increases by R1.52 lakh, while the Audi A6 price increases by R1.8 lakh.
Sterlite Technologies JV to set up plant in Brazil
Transmission products maker Sterlite Technologies will form a joint venture with Brazilian firm Conduspar Condutores Eletricos for setting up an optical fibre manufacturing plant. The plant to be set up in Brazil would cater to the Latin American market. ?The 50-50 JV will be a greenfield facility in Curitiba within the state of Parana (Brazil), and will produce optical fiber cables for the Latin American markets,? Sterlite Technologies said. The JV is expected to start commercial production by the first quarter of 2015 fiscal.
India sees $4.72-bn PE deals in H1 2013: PwC
Private equity deals in India were up 15% at $4.72 billion during the first half of this year and the outlook for the second half looks bullish, says a PwC report. Although the deal volume shrunk significantly from 266 deals in the first half of 2012 to 166 deals this year, the
aggregate total deal value of $4.72 billion now compares favourably with January-June 2012, the report said. With respect to exits, however, the first half witnessed exits worth $2.51 billion, up 68%, as compared to $1.48 billion worth of exits in the same period last year, through 54 deals, PwC said.
