Tata Motors plans to sell 5,000 Sumo Gold each month

The Bharat Stage III version of Tata Sumo Gold is priced at Rs5.47 lakh (ex-showroom, Chennai) and the top end variant at Rs6.89 lakh (ex-showroom, Chennai)

Aiming to be a leading player in the entry-level utility vehicle segment, auto major Tata Motors plans to sell 5,000 units of its latest ‘Sumo Gold’ each month over the next two months.

The new variant, cheaper by Rs40,000 than existing models is equipped with a new Tata-owned CR4 engine providing much better refinement and mileage, Tata Motors utility vehicles product group—head Ashesh Dhar said.

“We have cut the price by up to Rs40,000. The vehicle’s weight has been reduced, it has an improved CR4 engine delivering better mileage of 14.3 kmpl and pick up at 85 bhp. We have added new external and internal features in it,” he told reporters after unveiling the Sumo Gold.

He said the company aims to be a significant player in this segment with introduction of Sumo Gold. “Currently, Sumo sells about 3,000 units per month. Four months back, we were selling only 1,100 units. We have increased the volumes. Now we plan to sell 5,000 units in another two months," he said. On producing Sumo Gold at their Pune plant, he said production is currently 3,000 units and can be ‘ramped’ up as and when required. He replied in the negative when asked, if sales of the company’s premium crossover ‘Aria’ has been hit after entry of competitor Mahindra’s XUV500 into the market and said demand was actually more.

“No. It was not. We were selling only 200 units. Now we are selling about 500 units [of Tata Aria]. It has been increasing,” he later told PTI.

The Bharat Stage III version of Tata Sumo Gold is priced at Rs5.47 lakh (ex-showroom, Chennai) and the top-end variant at Rs6.89 lakh (ex-showroom, Chennai).
The BS IV model is priced at Rs5.62 lakh (ex-showroom, Chennai) for the base variant while the top end model is Rs7.03 lakh (ex-showroom, Chennai).

Tata Motors’ shares closed at Rs265.40 per share on the Bombay Stock Exchange, 1.14% down from the previous close.

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CCI okays Tata Power's buyout of BP stake in solar JV

“The proposed acquisition of further 51% of the equity share capital of Tata BP Solar and other securities, if any, by Tata Power is not likely to create any adverse competition concern...” CCI said while approving the buyout

The Competition Commission of India has approved the proposal of Tata Power to acquire remaining 51% stake in Tata BP Solar from joint venture partner BP Alternative Energy Holdings.

In an order, the CCI noted that TPCL (Tata Power) and TBCL (Tata BP Solar) are not engaged in production, supply, distribution, storage, sale or trade of “similar or identical or substitutable goods or provision of services”.
 
“The proposed acquisition of further 51% of the equity share capital of TBSL and other securities, if any, by TPCL is not likely to create any adverse competition concern... The Commission hereby approves the proposed combination under Section(1) of section 31 of the Act,” it said.

The CCI further said that while TBSL is concentrated mainly on the manufacturing and development of solar energy related business, like solar modules and solar cells, TPCL is engaged in generation, transmission and distribution, and trading of power.

“Their individual or combined share in the markets involving engagement at different stages or levels of production chain is also not substantial,” CCI noted.

In December last year, Tata Power had announced it would acquire the remaining 51% stake in the joint venture. On completion of transaction, Tata Power will own 100% of the company, it had said. Tata Power and BP have agreed that the company will continue to enjoy access to certain BP technology until 2013. The company and BP will enter into a technology agreement to give effect to this understanding, Tata Power had said.

Tata Power’s shares closed at Rs113.40 per share on the Bombay Stock Exchange, 1.52% up from the previous close.

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Wipro Infotech completes Rs1,182 crore e-governance project

The Panchdeep project aims at improving the healthcare services provided to ESIC’s customers through online facilities to employers and insured people for registration, payment of premiums and disbursement of cash benefits.

Wipro Infotech, IT arm of Wipro, has successfully completed the digitisation of Employees’ State Insurance Corporation’s (ESIC) operations, one of the biggest e-governance projects in the country. Wipro Infotech had bagged the Rs1,182 crore six-and-a-half-year project ‘Panchdeep’ in March 2009.

“We are honoured to have been part of ESIC’s initiative in taking quality healthcare to the masses,” Wipro senior vice-president and business head, India, Middle East and Africa, Anand Sankaran said at an ESIC function.

The Panchdeep project aims at improving the healthcare services provided to ESIC’s customers through online facilities to employers and insured people for registration, payment of premiums and disbursement of cash benefits.

Under the project, Wipro has set up a unified information system automating all internal and external processes of ESIC. Apart from installing hardware, Wipro has also provided specialised software solution and data centre facilities for covering over 2,000 locations across the country.

Minister for communications and IT, Kapil Sibal, unveiled a commemorative stamp, while finance minister Pranab Mukherjee released a book titled “ESIC Sparkling Diamond” on the occasion.

Wipro’s shares closed at Rs437.55 per share on the Bombay Stock Exchange, 0.76% down from the previous close.

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