Post acquisition of Modi Tyres, the new entity Continental India is ramping up its operations in both the replacement market and the OEM space in India
Automotive supplier & tyre manufacturer Continental International today announced its expansion plans for the Indian market. Post acquisition of Modi Tyres Company Ltd, the new entity Continental India Ltd is ramping up its operations significantly in both the replacement market and the OEM space in India.
Continental India will be increasing the production of the Modipuram plant beyond half a million bias truck and bus tyres (TBX) already this year. From there, TBX production is planned to grow to more than one million units in 2013. In addition, Continental India announced further investments of more than 50 million euros to start production of radial tyres for passenger cars and commercial vehicles in the second half of 2013.
In July 2011, Continental had formally completed the acquisition of Modi Tyres which included the existing TBX plant in Modipuram, the tube plant located in Partapur and all related operational assets to those plants including all customer relationships. Alok Modi, member of the founding family of Modi Tyres, will be on the board of directors of Continental India.
L&T Construction has secured new for the construction of commercial & residential buildings
Larsen & Toubro arm L&T Construction has secured new orders worth Rs1,340 crore in the building & factories segment during the second quarter of FY10-11 for the construction of commercial & residential buildings including add-on orders from ongoing projects.
L&T has secured new orders aggregating to Rs975 crore for the construction of a mixed use commercial development and construction of the main civil works for an IT campus. It has also secured an order worth Rs203 crore for the construction of a residential tower. It has also secured add-on orders worth Rs162 crore from various clients for ongoing contracts.
On Wednesday, L&T ended 2.17% down at Rs1,557.90 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.29% to 16,248.98.
IndusMobile will allow customers to bank anytime through their mobile phone
IndusInd Bank has launched an innovative mobile banking application called IndusMobile.
IndusMobile will allow the customers to bank anytime anywhere through their mobile phone. Customers can access information and transact at absolutely no cost charged by the Bank and at high level of safety. Customers will also be able to book movie tickets, pay their bills and even perform mobile to mobile funds transfer, NEFT and RBI's inter-bank mobile payment service (IMPS).
IndusInd Bank also allows its customers to initiate cardless cash withdrawal transactions through the mobile application; which means the beneficiary can withdraw cash from select IndusInd Bank ATMs without using an ATM/Debit Card.
IndusMobile is a downloadable application which is installed on phone. Those who do not wish to download and install may use the SMS channel for using IndusMobile.