TVS Motor unveils new  electric scooter
 
TVS Motor Company on Wednesday announced the launch of its first electric scooter, Scooty Teenz Electric in Ahmedabad. This scooter, aimed at teenage girls and priced at Rs 32,500, ex-show room in Gujarat, will soon be launched across the country, said a company press release.

Scooty Teenz Electric, equipped with 800 watts of power to give a maximum  speed of 40 kmph, generates an average range of 40 km per nine hours of charge, reports DHNS. This can increase by 50 per cent if the rider opts for lower speeds by using the range selector which gives two ranges — high and low. Prominent features include a low-charge indicator, puncture resistant tyres, a mobile charger and a range selector.

Mukesh Ambani to head India-Russia CEOs’ forum

Reliance Industries Limited (RIL) Chairman Mukesh Ambani will co-chair the high-powered Council of India-Russia Chief Executive Officers (CEOs), reports DHNS from New Delhi.

Coinciding with the visit of Russian Prime Minister Victor A Zubkov the India Russia CEOs was established on Wednesday to strengthen bilateral business cooperation in the areas of oil, energy, power, transport, telecom and high technology. Ten CEOs each from India and Russia will be on the Council, which will work towards converting about $8 billion worth of projects under discussion and explore new areas for trade and investment.

The Russian Minister for Economic Development and Trade Elvira S Nabiullina said the India Russia CEOs’ Council would be useful to increase the trade manifold between the two countries.

Hindustan Unilever FY’07 net at Rs 1,914 crore

FMCG major Hindustan Unilever on Wednesday announced a consolidated net profit of Rs 1,914.88 crore for the financial year ended December 31, 2007, against Rs 1,890.53 crore in the corresponding period last year, reports PTI from Mumbai.

The consolidated total income was  Rs 14,366.54 crore for FY’07 against Rs 12,803.90 crore in FY’06. The results for the period are not comparable with the last year’s figures as the company had amalgamated Modern Foods (India) Ltd and its subsidiary with itself, the company said. The standalone income for FY’07 was at Rs 3,847.10 crore for FY’07 against Rs 3,263.05 crore in FY’06. The company announced a standalone net profit of Rs 631.44 crore for the fourth quarter compared to Rs 511.18 crore last year.

V-Guard Industries IPO opens on February 18

Kerala-based V-Guard Industries, engaged in the manufacturing and marketing of electrical and electronic products, on Wednesday announced a price band of Rs 80 to Rs 85 for its forthcoming initial public offer (IPO) of 80 lakh equity shares of Rs 10 each for cash at a premium.

The net issue to the public comprises of 76 lakh equity shares and four lakh equity shares have been reserved for the employees. The capital raised from the issue will be deployed to set up cable manufacturing facilities in Coimbatore and Uttaranchal, the company said.