RCom, TELibrahma to offer Cricket video updates

Reliance Communications has partnered with TELibrahma to deliver video updates and replays from the ICC World Cup Cricket matches on mobiles for all cricket lovers

Telecom service provider Reliance Communications has partnered with mobile solutions provider TELibrahma to deliver video updates and replays from the ICC World Cup Cricket matches on mobiles for all cricket lovers.

With this partnership, TELiBrahma would deploy bluetooth device in stadiums and enable consumers to receive video highlights when they are watching the match in the stadium, RCom said in a statement.

"We believe it would help consumers to catch the missing action. This opportunity will help brands to deliver what is relevant to consumers at the place where it matters and on a device that creates the impact," the TELiBrahma president, PR Satheesh, said.

The tie-up will also enable RCom consumers to view the highlights and action replays of cricket matches for free.

The solution is supported on more than 80% of the mobile phones in India and works across phone models, operators and geographies.

On Wednesday, RCom ended 1.98% up at Rs102.95 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.05% to 18,358.

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Hero Honda promoter pledges further stake

Hero Investments Pvt Ltd has pledged further shares of the company to IL&FS Trust Company Ltd, raising an estimated Rs200 crore

Promoter of Hero Honda, Hero Investments Pvt Ltd (HPIL), has pledged further shares of the company to IL&FS Trust Company Ltd, raising an estimated Rs200 crore.

In a filing to the Bombay Stock Exchange (BSE), Hero Honda said HIPL has pledged an additional 13,18,653 shares aggregating 0.66% stake in the company on 7th March.

On the basis of the closing price of the company's shares on the BSE on 7th March, the value of the pledge stake is around Rs200 crore.

With the transaction, IL&FS Trust Company has now increased its stake in the two-wheeler maker to 5.98% from 5.32% before. In the first week of this month, HIPL raised an estimated Rs1,585 crore by pledging 5.32% stake with IL&FS Trust Co.

On 9th March, the company also raised Rs900 crore by pledging shares to Axis Trustee Services Ltd.

HIPL is one of the main shareholders of Hero Honda, holding 17.33% stake in the company as on 31 December 2010.

The BM Munjal led Hero Group is raising funds to finance the buyout of Honda's 26% stake in Hero Honda for Rs3,841.83 crore.

The group also said it will raise funds from private equity firms, including Bain Capital and Lathe Investment, estimated to be around Rs4,500 crore to finance its buyout by selling stake in HIPL. It has already sought government clearance to bring in foreign investment of up to Rs4,500 crore in HIPL.

On Wednesday, Hero Honda ended 0.22% down at Rs1,517.45 on the BSE, while the benchmark Sensex gained 1.05% to 18,358.

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Somany Ceramics to double exports biz by next fiscal

Somany Ceramics is looking at strengthening its presence in the overseas markets, including South Africa and the Middle East, with plans to double its exports within the next fiscal

Tiles maker Somany Ceramics said it is looking at strengthening its presence in the overseas markets, including South Africa and the Middle East, with plans to double its exports within the next fiscal.

The company, which had a turnover of Rs560 crore last fiscal, said at present around 3% of its annual sales comes from abroad. It plans to increase it to 6% within the next fiscal.

"At present, the export business is not significant, contributing about 3% to our overall sales. In the coming fiscal, we want to take it to 6%," Somany Ceramics joint managing director Abhishek Somany said.

The company said it is setting up exclusive outlets outside the country, starting with Nepal followed by South Africa and in the Middle East.
"We are emphasising a lot on our export business. We now have a product mix which is being accepted in the international markets. Setting up exclusive stores will help in establishing our brand abroad," he said.

The company, which currently exports only tiles, is looking at introducing its sanitary ware products in the overseas markets.

Besides, Somany said the firm is exploring opportunities to enter into Germany, France and Australia. At present, Somany Ceramics has presence in Nepal, Middle East, South Africa, England and the US.

On the domestic front, the company is also planning to double its retail presence taking the number of exclusive outlets to 120 by the end of the next fiscal.

Somany, however, did not reveal the kind of investment the firm is likely to put for executing plans both in India and abroad. The company usually spends about Rs70 crore to Rs80 crore on product development and marketing in a year, he added.

On Wednesday, Somany Ceramics ended 0.13% down at Rs39 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.05% to 18,358.

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