OUT OF INDIGO

Article Abstract:

Sources say that the Lalbhais may be planning to sell the denim operations of Arvind Mills. The prices of denim have declined by 15 percent with global demand stagnating at 3 billion metres. Arvind Mills is now expanding its product range to include shirtings, knit and bottomwear. It is setting up a Rs1000 crore Arvind City project located over 400 acres at Santej near Ahmedabad. This project is expected to increase the turnover of Arvind Mills by Rs650 crore. The company posted a net profit of Rs101.04 crore on sales of Rs928.32 crore in 1997-98. (khr)

Comment:

Sources say that the Lalbhais may be planning to sell the denim operations of company as prices of denim have declined by 15%

Denims, Broadwoven Fabric Mills, Denim, Article, Arvind Mills Ltd.

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INDIGO TECH TIES UP WITH DATAWISE

Article Abstract:

Indigo Technologies Ltd (ITL) of Chennai, a solutions provider for banking and securities trade, has tied-up with Datawise Services Ltd of UK, a software consultancy firm in the banking sector with SWIFT (Society for Worldwide Inter-bank Financial Telecommunication) related products. The two companies will promote each other's products and services in their respective regions. ITL plans to have at least 15 channel partners in the next 12 months to enter the US and UK markets. (khr)

United Kingdom, Computer Software, Software Publishers, Strategic alliances, Software, DataWise, Indigo Technologies

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TATA DREAM GETS CLOSER TO REALITY WITH TAJ AIR

Article Abstract:

The Tatas have entered the aviation business through its Taj group of hotes. It lhas acquired 80 percent stake in Megapode Airways (MA) of Nusli Wadia. MA will now be operated by the Taj group. The airline will be re-named Taj Air. The charter service will cost Rs90,000 per hour with ground charges of Rs7,500 per hour. MA now owns one aircraft, the Hawker Siddley (HS-125). This plane has 8 seats. It will be operated both in India and abroad. (gs)

Acquisitions & mergers, Nonscheduled Airlines, Nonscheduled Air Transportation, Air charter services, Taj Group of Hotels, Taj Air, Megapode Airways

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