Aditya Birla Nuvo eyes Rs 4,000 cr

Aditya Birla Nuvo, on Wednesday, announced its fund augmentation plans to raise up to Rs 4,000 crore to meet its investments and capital expenditure for its existing as well as new growth opportunities, reports DHNS from Mumbai.

The Board of Aditya Birla Nuvo at its meeting here approved the proposal for raising the aforementioned sum in the next 18 months through preferential offer to promoters at a price determined as per the applicable Sebi guidelines.

Accordingly, the Company is proposed to issue 2.05 crore Warrants to promoter / promoter group and the holder thereof will get one Equity Share of Rs 10 each of the Company against each warrant in 18 months from the date of allotment.

To get the approval of the shareholders to the preferential issue, the  Board has also decided to call an Extra Ordinary General Meeting of the Company on February 06, 2008.

Forum Headstart from January 18

Forum Headstart 2008 — to bring together an entire ecosystem of entrepreneurs, researchers, technical professionals and investors on a single platform is being organised from January 18 to 20, 2008 at J N Tata auditorium, reports DHNS from Bangalore. 

It will also host demonstrations of latest technology and innovations from various IT and non-IT companies ranging from consumer services to mobility and  communications to enterprise and silicon embedded systems.

Briefing reporters, Aumega Networks Ltd Managing Director Kallol Borah said, we have 70 nominations to showcase innovations and demonstrations. We expect 100 plus researchers and academicians, nearly 100 entrepreneurs, 60 IT and non-IT companies and 15 investors to participate.

Lightspeed ADvisory Services Ltd Managing Director Srini Vudayagiri said after starting up, entrepreneurs need mentoring, continuous innovation, research and in-depth technological know-how, which this forum will look to address.

Additionally, Compute 2008 — India based chapter of Association of Computing Machinery (ACM) will be the other forum held at same location. Compute 2008 will host 400 top professionals to discuss topics such as high performance computing, service-oriented computing, information management and pervasive systems. It will also see various activities such as technical and white paper discussions, tutorials etc.

Matsushita and Google mull iTVs

Japanese electronics conglomerate Matsushita Electric Industrial Co Ltd is working with Web giant Google Inc to develop televisions that display Internet content such as photos and videos, reports Reuters from Tokyo.

The TVs will allow users to directly browse and access videos through YouTube, a video-sharing Web site owned by Google, and view Picasa Web Albums, a free online photo-sharing service from Google, Matsushita unit Panasonic said in a statement.

The Japanese company said it has not set a date for the global launch.

“Panasonic’s cooperation with YouTube and Google’s Picasa Web Albums exemplifies our commitment to leading the natural evolution of the Internet and extending it to High Definition television,” Panasonic Consumer Electronics  Vice President Merwan Mereby said.

iGATE’s net profit up by 80 per cent at Rs 29 crore

iGATE Global Solutions, on Wednesday announced in Bangalore strong sequential revenue and profit growth for the third quarter (Q3) ended December 31, 2007. Revenue for the third quarter of FY08 was Rs 209.3 crore compared to Rs 210.7 crore in the corresponding quarter previous year. Net profit for the third quarter increased to Rs 29 crore, up 80.1 per cent from Rs 16 crore in the third quarter of FY07. EPS grew to Rs 9.09 from Rs 5.09 in the same quarter previous year. 

Software Testing, STeP-IN Conference in Bangalore

The 5th Annual Software Testing conference: STeP-IN Summit 2008, is scheduled during January 16-19, 2008, at The Leela Palace, Bangalore. The International Conference provides insights to state-of-the-art best practices, tools and services to software professionals faced with quality challenges, said a press release. The objective of the conference is to help make sense of trends, technologies, and strategies in the testing world today. The STeP-IN Summit addresses questions about outsourcing, security, automation, and many other hot-topics in the industry.

Aviva Life launches new  financial planning website

Aviva Life Insurance India Ltd, on Tuesday launched a website to provide free advice on retirement planning and promote financial literacy. “www.six-steps.in aims to educate people on the right way to financial planning,” Aviva Life Insurance India Ltd Managing Director Bert Peterson said. According to the survey conducted by the insurer, close to 40 per cent of Indians look at the internet for advice on financial planning. “This is an impressive figure for internet take up in a fast developing economy. We can expect this to rise in the future too,” he said. The website will also work as a guide book, with financial experts providing professional advice, he added. Besides, making provision for family (protection and education) and healthcare are key concerns for Indians today, it said.

Axis Bank Q3 net up 66 per cent to Rs 307 cr

Axis Bank (formerly UTI Bank) on Wednesday reported in Mumbai 66.2 per cent raise in net profit for the third quarter ended December 2007 at Rs 306.83 crore as compared with Rs 184.61 crore for the same quarter last year. The Bank said its total income for Q3FY08 increased 58.5 per cent to Rs 2,290.24 crore from Rs 1, 444.55 crore in Q3FY07.

Mastek’s revenue jumps 17 pc to Rs 216 crore

Mastek Limited on Wednesday reported in Mumbai a PAT of Rs 18.7 crore for the quarter ended December 31, 2007 as compared to Rs 16.9 crore for the quarter ended December 31, 2006. Total income has increased from Rs 1,28.5 crore for same quarter last year, to Rs 140.34 crore for  quarter ended December 31, ’07. The Group has posted a PAT for the second-quarter ended December 31, ’07, up 31 per cent at Rs 27.1 crore as compared to Rs 21.8 crore for the quarter ended December 31, ’06. Total income has increased from Rs 209.7 crore for the quarter ended December 31, ’06 to Rs 215.9 crore for the quarter ended December 31, ’07, up by 17 per cent, Mastek said. 

Microsoft rules out iPhone rival

Software group Microsoft will not launch a product that competes directly with Apple Inc’s iPhone, Chairman Bill Gates said in an interview with Germany’s Frankfurter Allgemeine Zeitung, reports Reuters from Frankfurt.

“No, we won’t do that. In the so-called smart phone business we will concentrate solely on software with our Windows Mobile programme,” Mr Gates was quoted in the interview. “We have partnerships with a lot of device manufacturers from Samsung to Motorola and this variety brings us significantly more than if we would make our own mobile phone,” he added. Apple’s iPhone, which also plays music and lets users browse the internet, has been a hit.

“No, we won’t do that. We will concentrate on software for mobile programme.”

Bill Gates