SPECIAL COVERAGE
CHANDIGARH

LUDHIANA

DELHI


THE TRIBUNE SPECIALS
50 YEARS OF INDEPENDENCE
TERCENTENARY CELEBRATIONS

B U S I N E S S

CRR up by .5 pc, key rates unchanged
Mumbai, July 31
In an acknowledgement that it has succeeded in keeping inflation in check, the Reserve Bank of India (RBI) today kept key interest rates unchanged though it effected a marginal increase in the cash reserve ratio (CRR) banks have to maintain with the apex bank.

Identify export-interest products, India asks Pak
New Delhi, July 31
The two-day Indo-Pak meeting on economic and commercial cooperation got underway here today with India calling for steps to ensure economic integration of the two neighbours for the ultimate benefit of the consumer on either side.
Pakistan’s commerce secretary Syed Asif Shah (left) shakes hands with his Indian counterpart G.K. Pillai during a meeting in New Delhi Pakistan’s commerce secretary Syed Asif Shah (left) shakes hands with his Indian counterpart G.K. Pillai during a meeting in New Delhi on Tuesday. 
Tribune photo: Mukesh Aggarwal

Industry welcomes decision
New Delhi, July 31
Industry chambers today generally welcomed the RBI’s decision not to change repo, reverse repo and bank rates, while a chamber felt that the 50 basis points increase in cash reserve ratio (CRR) may impact lending rate.




 
Kanwalinder Singh, president, Qualcomm India & SAARC, Vinayak Deshpande, president, EHNI Business unit, Tata Teleservices, and Malcolm Dawe, VP and GM, Motorola India display the new Moto Q mobile during its launch in Delhi
From left to right: Kanwalinder Singh, president, Qualcomm India & SAARC, Vinayak Deshpande, president, EHNI Business unit, Tata Teleservices, and Malcolm Dawe, VP and GM, Motorola India display the new Moto Q mobile during its launch in Delhi on Tuesday. The handset is priced at Rs 19,999 and comes with a 512 MBcard with a preloaded content. The handset offers built-in multimedia functionality and blue tooth stereo music streaming. Tribune photo: Manas Ranjan Bhui

BSNL to float tender for 50-m GSM lines
New Delhi, July 31
In a move to be competitive in the high-growth telecom sector, state-run BSNL will float a new tender for 40-50 million GSM lines, to be completed within nine months, Union minister for communication A Raja said here today.

Indian dies today; staff caught up in throes
New Delhi, July 31
The Indian (Indian Airlines) would officially cease to exist tomorrow, courtesy the top decision makers of the country.

SBI ‘cash back plus’ offer
Chandigarh, July 31
The State Bank of India (SBI) is launching a ‘Cash back plus offer’ through out the country from August 1 to October 31. Chief general manager, SBI, Chandigarh circle, Hemant Contractor, said during this period, customers of the SBI and its associate banks using their debit cards for making payments for Rs 501 or above, will get cash back up to 5 per cent.

Reliance Power to get LoI for Sasan today
New Delhi, July 31
Sasan Power Ltd, the special purpose vehicle floated by Power Finance Corporation for the 4,000 MW project, will tomorrow issue the letter of intent (LoI) to Reliance Power Ltd — two days after the ADA Group company won the project by quoting the lowest bid of Rs 1.19 per unit.

Badal assures sops to industry
Chandigarh, July 31
In the changed economic scenario, the Punjab government now aims to give more concessions to industry to match Himachal Pradesh and Uttaranchal. Chief Minister Parkash Singh Badal virtually opened the doors to the industry at a meeting in New Delhi and rolled out red carpet for industrialists.

File IT return till March 31 sans penalty
New Delhi, July 31
Taxpayers, who have failed to submit tax returns before the deadline of July 31, can still file returns till March 31, 2008, without fearing the levy of penalty.

Corporate Results
RCom net soars 76 pc to Rs 837 cr

Mumbai, July 31
Anil Ambani group company Reliance Communications (RCom) today announced it has clocked a 76.58 per cent jump in profit after tax (PAT) at Rs 837.30 crore for the quarter ended June 30, compared to Rs 474.17 crore for the same period last year.

 

Top










 

CRR up by .5 pc, key rates unchanged
Tribune News Service

Mumbai, July 31
In an acknowledgement that it has succeeded in keeping inflation in check, the Reserve Bank of India (RBI) today kept key interest rates unchanged though it effected a marginal increase in the cash reserve ratio (CRR) banks have to maintain with the apex bank.

Monetary Policy

Highlights  
*
CRR hiked by .5 pc to 7 pc
*
Repo, reverse repo, bank rate unchanged
*
Bank rate 6 pc, reverse repo 6 pc, repo 7.75 pc
*
Daily reverse repo cap of Rs 3,000 cr withdrawan from Aug 6
*
GDP projection retained at 8.5 pc - Inflation projection unchanged at close to 5 pc
*
No more second LAF transactions daily from August 6
*
Non-food credit growth decelerated
*
Inflationary pressure from global developments persist
*
Next quarterly review on October 30, 2007. — PTI 

RBI Governor Y.V. Reddy said today it would keep overnight lending (repo), borrowing (reverse repo) and bank rate unchanged, though it would increase the CRR by 0.5 per cent. Banks would now have to park 7 per cent of depositors' money with the central bank. Bank rate was left unchanged at 6 per cent, repo at 7.75 per cent and reverse repo at 6 per cent.

The RBI's announcement today was, however, received with disappointment by borrowers in the commercial, auto and housing sectors, who were hoping for a softening of interest rates.

According to projections by the RBI, economic growth for the year 2007-08 is projected at 8.5 per cent while inflation is expected to be within 4-4.5 per cent in medium term and 5 per cent for the current fiscal.

Dr Reddy said real GDP growth during the quarter January-March 2007 is placed at 9.1 per cent as against 10 per cent in the corresponding quarter a year ago and real GDP growth for the year 2006-07 is revised upwards from 9.2 per cent to 9.4 per cent.

Inflation, measured by variations in the wholesale price index (WPI) on a year-on-year basis, declined from 5.9 per cent at end-March 2007 to 4.4 per cent as on July 14, 2007.

The average international price of the Indian crude oil basket increased from $56.2 per barrel in January-March 2007 to $ 66.2 per barrel in April-June 2007 and to around $73.5 per barrel on July 27, 2007.

Growth in money supply at 21.6 per cent on a year-on-year basis on July 6, 2007, was above the projected trajectory of 17.0-17.5 per cent indicated in the annual policy statement for 2007-08 and higher than 19.0 per cent a year ago.

The year-on-year increase in aggregate deposits of scheduled commercial banks (SCBs) at 24.4 per cent (Rs 5,31,881 crore) up to July 6, 2007, was higher than 20.9 per cent (Rs 3,77, 392 crore) a year ago.

The year-on-year non-food credit growth of SCBs at 24.4 per cent (Rs 3,67,258 crore) on July 6, 2007, was lower than 32.8 per cent (Rs 3,70,899 crore) a year ago.

The total overhang of liquidity under the LAF, the MSS and cash balances of the central government taken together declined from an average of Rs 97,449 crore in March 2007 to Rs 72,823 crore on July 27, 2007.

Gross market borrowings of the central government during 2007-08 at Rs 85,628 crore up to July 27, 2007 (Rs 70,813 crore a year ago) constituted 45.4 per cent of the budget estimates while net market borrowings at Rs 46,047 crore constituted 42 per cent of the budget estimates.

External developments

During the first two months of 2007-08, export growth rose to 20.2 per cent from 19.2 per cent in the corresponding period of the previous year. Imports also posted a sharp rise of 33 per cent as compared with 16.9 per cent in the corresponding period of the previous year.

As a result, the merchandise trade deficit widened to $ 13.3 billion during April-May 2007 from $ 8.2 billion in April-May 2006.

As on July 20, 2007, India's foreign exchange reserves increased by $ 22.9 billion over their end-March 2007 level to $222 billion.

During April-June 2007, the rupee appreciated by 6.63 per cent against the US dollar, by 5.19 per cent against the euro, by 4.41 per cent against the pound sterling and by 10.44 per cent against the Japanese yen.

Global developments

According to the World Economic Outlook (WEO) of the International Monetary Fund (IMF) released in April 2007, global real GDP growth was expected to decline from 5.4 per cent in 2006 to 4.9 per cent in 2007 and 2008. The update of the WEO released in July 2007 has revised this estimate upwards to 5.5 per cent for 2006 and its forecast for 2007 and 2008 to 5.2 per cent.

Overall assessment

Domestic economic activity has continued to expand at a strong pace and there are indications that the impulses of growth are getting broad-based. The recent gains in bringing down inflation and in stabilising inflation expectations should support the current expansionary phase of the growth cycle.

The RBI Governor noted that demand pressures and cyclical effects continued to persist, mirrored in investment and consumer demand, monetary and banking aggregates, capacity constraints and a widening trade deficit.

The projection of real GDP growth in 2007-08 at around 8.5 per cent, as set out in the annual policy statement of April 2007, is retained, barring domestic or external shocks.

The outlook for inflation in 2007-08 remains unchanged.

The RBI will continue with its policy of active demand management of liquidity through appropriate use of the CRR stipulations and open market operations (OMO), including the MSS and LAF, using all policy instruments at its disposal flexibly, as and when the situation warrants.

Top

 

Identify export-interest products, India asks Pak
Tribune News Service and UNI

New Delhi, July 31
The two-day Indo-Pak meeting on economic and commercial cooperation got underway here today with India calling for steps to ensure economic integration of the two neighbours for the ultimate benefit of the consumer on either side.

Addressing the meeting, under the framework of composite dialogue, Indian commerce secretary G K Pillai suggested that Islamabad could identify products of export interest that could be looked at by India, in terms of relevant import regime for these products, to facilitate better understanding for Pakistan exporters and take steps to facilitate trade in those items.

“While Pakistan can export cement to India, it would be commercially beneficial if the world’s third largest consumer Pakistan could buy tea from the world’s largest producer, India, which is next door,” he said.

Asserting that there is a strong case for the two countries to see how transaction costs be reduced taking advantage of contiguous borders, Pillai said, “If tea is traded across our borders through the land route, it would reduce transaction costs and create economic advantages for the two countries.”

The Pakistani delegation, led by commerce secretary Syed Asif Shah, comprised among others, high commissioner of Pakistan Shahid Malik and director general (South Asia and SAARC) Aizaz Ahmed Chaudhry.

Pakistan Commerce Secretary Syde Asif Shah reminded his Indian counterpart that his country had enlarged the positive list of importable goods into Pakistan from India by adding 302 new items after the end of third round of talks. He said Pakistan’s global imports of these products are over $ 2 billion, while India’s share in the last six months constituted about $ 30 million.

Shah also underlined the need to operationalise the bilateral protocol of shipping service between Pakistan and India, adding it had been renegotiated and signed between the two countries on the conclusion of the third round of talks on December 14, 2006.

This protocol, he added, will positively impact bilateral trade as it had removed obstacles in the movement of goods by sea. The new protocol was signed after 31 years.

The agenda for talks include trade in goods and services, joint registration of basmati rice, discussion on expanding bilateral trade, new items for trade such as cement, establishing linkages between capital markets and liberalising the visa regime for travelling businessmen.

Top

 

Industry welcomes decision
Tribune News Service

New Delhi, July 31
Industry chambers today generally welcomed the RBI’s decision not to change repo, reverse repo and bank rates, while a chamber felt that the 50 basis points increase in cash reserve ratio (CRR) may impact lending rate.

“The unchanged repo, reverse repo and bank rates are welcome, and the 50 basis points increase in CRR would suck out excess liquidity from the system,” said CII.

With high inflow of foreign capital into the economy, and the liquidity situation being healthy, the removal of the cap of Rs 3,000 crore on daily reverse repo (overnight borrowing) transaction, would help manage volatility in the call money rates, and additionally suck out excess liquidity, it said.

However, CII had a word of concern, about the tight monetary regime, pointing out that small and medium companies find it difficult to access funds in this kind of a monetary environment, since effective rates and availability of bank credit are an issue for them.

Welcoming the RBI’s decision not to raise any of the key interest rates, Ficci president Habil Khorakiwala pointed out that the increase in CRR should have been held in abeyance.

Since the inflationary situation is well within the 5 per cent target set by the RBI for the current fiscal, Ficci hoped that the RBI would review the interest rate structure to give a fillip to sectors such as automobiles, white goods and real estate. Such a move would trigger growth impulses in important core sectors and favourably impact industrial growth.

PHDCCI president Sanjay Bhatia said inflationary pressure in the economy was emerging from supply constraints and not due to liquidity. He said increase in CRR may not have the desired effect of moderating the inflation.

Bhatia said the prime lending rate at around 15 per cent is already high as compared to international lending rates. This has already impacted the competitiveness of domestic industry and also the exports.

“Industry was expecting softening of interest rate structure. Instead the hike in CRR by 50 basis point will lead to credit squeeze especially for micro, small and medium enterprises. For big companies, there is an alternative source for tapping funds for expansion and modernisation. Against the backdrop of benign and moderate inflation and rising rupee, CRR should also have been kept unchanged,” he said. Assocham said the RBI policy lays excessive focus on taming inflation rather than fuel growth.

Assocham president Venugopal N. Dhoot said the RBI should have changed the interest rates as per anticipation of Indian industry and projected GDP growth at 9 per cent for 07-08, which should have been indicative of higher growth.

Top

 

BSNL to float tender for 50-m GSM lines
Tribune News Service

New Delhi, July 31
In a move to be competitive in the high-growth telecom sector, state-run BSNL will float a new tender for 40-50 million GSM lines, to be completed within nine months, Union minister for communication A Raja said here today.

“I am told that they are ready to go for a larger tender ... 40-50 million lines. I suggested to give more strength to BSNL... another process must be completed in the stipulated time, may be within 8-9 months,” he told newspersons on the sidelines of an industry event.

He said the BSNL board would decide on whether the bids should include 3G.

Earlier this month, BSNL got the approval to expand its network across the country as the minister cleared its first tender of 23 million GSM lines after cutting it from its initial size of 45.5 million lines.

BSNL placed the order for the first tender to Nokia-Siemens and Ericsson that emerged as the lowest bidders. Both the companies are yet to give their bank guarantees, a mark of acceptance of the deal.

The PSU had to cut the size of its original tender to 23 million lines from 45.5 million lines after Raja asked it to negotiate for a lower price.

GoM on Spectrum to meet in Aug

Raja also said a Group of Ministers looking into release of spectrum by defence forces and others for civilian use will meet for the first time in mid-August.

“The GoM is going to discuss at length the problem of spectrum vacation. I have requested the defence minister, who is the chairman of the GoM, to hold the meeting by August 15. We are having internal assessment to see how much spectrum is being used by other government agencies,” he said.

He denied any move to auction spectrum for second-generation mobile services - a shift from the current subscriber-linked allocation policy.

He said within a month or two, defence will be able to vacate some spectrum. The three armed forces were supposed to release 45 Mhz of spectrum, of which the Indian Air Force alone was expected to vacate 42.5 Mhz.

Top

 

Indian dies today; staff caught up in throes
Girja Shankar Kaura
Tribune News Service

New Delhi, July 31
The Indian (Indian Airlines) would officially cease to exist tomorrow, courtesy the top decision makers of the country.

A profit-making airline would be officially merged into a much lower profit-making airline tomorrow morning to create the country’s largest airline, Air India. This is being done with the idea of taking on the competition not only from the international airlines, which are making a beeline for India, but also from other private domestic airlines in the country.

Minister for civil aviation Praful Patel has stressed time and again that the decision of the government would result in a seamless merger. But experts don’t believe so.

Indian employees facing an uncertain future and high handedness at the hands of Air India staff are livid.

Experts point out that both Air India and Indian have a completely different work culture and it would be difficult to for the employees from both organisations to work together to ensure profitability for the new company.

The extent of anger among the employees, specially, of the Indian, whether present or former, can be gauged from the absence of the former CMDs of the airline at the induction ceremony of the new aircraft at the Indira Gandhi International Airport on Saturday last where Prime Minister Manmohan Singh was the chief guest.

Apparently upset at the merging of the two airlines at least four ex-CMDs were missing from the invitees. In fact, the Indian employees were at the receiving end when they contacted the former CMDs to check whether they would be attending the function.

The CMDs wanted to know, how they were inviting when their own company was facing a “takeover” from Air India.

Sources point out that Indian has more aircraft than Air India, flies more passengers, more than 10 million a year in comparison to four million by the latter and has more employees than Air India. Also last year, Indian had a net profit of around Rs 50 crore in comparison to around Rs 14 crore by Air India.

Contrary to the assurance by the Ministry of Civil Aviation, there is still not clarity over how the huge workforce of the two airlines would be merged.

There has been clarity over just the top-level posts. But even there is a tussle underway with Air India JMD and the present CMD of Indian Vishwapati Trivedi being asked to take over Air India Express rather than having a direct role to play in the day-to-day working of the merged entity.

Experts point out that in such a scenario the advantage may be passed onto the private players, who face no such problems and also have better aircraft in place.

Top

 

SBI ‘cash back plus’ offer

Chandigarh, July 31
The State Bank of India (SBI) is launching a ‘Cash back plus offer’ through out the country from August 1 to October 31. Chief general manager, SBI, Chandigarh circle, Hemant Contractor, said during this period, customers of the SBI and its associate banks using their debit cards for making payments for Rs 501 or above, will get cash back up to 5 per cent.

The maximum amount of cash back during the period of offer will be Rs 1,000 per debit card. — TNS

Top

 

Reliance Power to get LoI for Sasan today

New Delhi, July 31
Sasan Power Ltd, the special purpose vehicle floated by Power Finance Corporation for the 4,000 MW project, will tomorrow issue the letter of intent (LoI) to Reliance Power Ltd — two days after the ADA Group company won the project by quoting the lowest bid of Rs 1.19 per unit.

Reliance Power, a subsidiary of Reliance Energy, outbid NTPC Ltd and Jaiprakash Associates to bag the project.

Sasan project, to be set up in Madhya Pradesh with an investment of Rs 20,000 crore, was the first of the nine such mega projects to be set up by private players through a tariff-based competitive bidding process.

The contract was initially awarded to a consortium of Lanco Infratech and Singapore's Globeleq in December, which quoted a Rs 1.19 KWH price. But the consortium later broke when Globeleq sold its 70 per cent stake to Lanco and Jindal Steel and Power Ltd.— PTI

Top

 

Badal assures sops to industry
Tribune News Service

Chandigarh, July 31
In the changed economic scenario, the Punjab government now aims to give more concessions to industry to match Himachal Pradesh and Uttaranchal. Chief Minister Parkash Singh Badal virtually opened the doors to the industry at a meeting in New Delhi and rolled out red carpet for industrialists.

Punjab will give more concessions than you can imagine, Badal told the who’s who of the Indian industry, while inviting them to invest, said a senior official who attended the meeting.

The ruling SAD-BJP combine was not against concessions, as was being projected by certain people, rather the party was against scams occurring in the name of concessions. Just two-three cases allowed by the previous Amarinder Singh government were being probed and in all other cases, the concessions given by Congress remain as they were, he assured the industrialists. 

Top

 

File IT return till March 31 sans penalty

New Delhi, July 31
Taxpayers, who have failed to submit tax returns before the deadline of July 31, can still file returns till March 31, 2008, without fearing the levy of penalty.

In Bihar, however, the CBDT has extended the last date of filing of income tax returns till August 16, in view of the disruption caused by floods in the state.

"Under the provisions of Income Tax Act, taxpayers, who have already paid all due taxes, can still submit their tax returns till March 31, 2008, and no penalty will be imposed on them," a senior official of the Central Board of Direct Taxes said.

Taxpayers, who had to pay up to Rs 5,000 income tax for 2006-07, will have to pay 1 per cent interest on the outstanding amount for the period between July 31 and the date they pay the dues, said official.

However, if the tax liability was more than Rs 5,000 and they had to deposit quarterly advance taxes as well, such tax payers will have to pay interest on the outstanding amount for every quarter as well. — PTI

Top

 

Corporate Results
RCom net soars 76 pc to Rs 837 cr

Mumbai, July 31
Anil Ambani group company Reliance Communications (RCom) today announced it has clocked a 76.58 per cent jump in profit after tax (PAT) at Rs 837.30 crore for the quarter ended June 30, compared to Rs 474.17 crore for the same period last year.

Total income of the company increased 18.21 per cent to Rs 3,229.69 crore for the June quarter, from Rs 2,732.16 crore in the corresponding quarter previous year, RCom informed the Bombay Stock Exchange.

Tata Motors

Despite slowdown in sales brought in by recent hike in interest rate, country's leading utility and passenger vehicle maker, Tata Motors reported an increase in net profit by 22 per cent at Rs 466.75 crore for the first quarter of the current financial year compared to Rs 381.67 crore for the corresponding period previous year.

The company's standalone revenue registered an increase by 5 per cent at Rs 6,056.82 crore for the first quarter compared to Rs 5,749.56 crore for the corresponding quarter of the previous year.

Godrej net up

Godrej Consumer Products Ltd today posted a 17.38 per cent jump in the net profit at Rs 35.79 crore for the quarter ended June 30, compared to Rs 30.49 crore for the year ago period.

The total income (net of excise) has increased by 23.33 per cent at Rs 237.29 crore for the June quarter as against Rs 192.40 crore for the same period last year, the leading fast moving consumer goods (FMCG) company said in a communique to the BSE.

Hindalco net up

Hindalco Industries, an AV Birla group company, today reported a marginal increase of 0.23 per cent in net profit to Rs 602.9 crore for the quarter ended June 30, compared to Rs 601.5 crore for the same quarter a year ago.

Total income of the aluminium rolling company has increased 10.36 per cent to Rs 4,802.5 crore for the June quarter from Rs 4,351.3 crore in the corresponding quarter last year, Hindalco informed BSE.

Torrent Pharma

Torrent Pharmaceuticals today posted a 5.79 per cent increase in net profit at Rs 33.24 crore for the first quarter ended June 30, as compared to Rs 31.42 crore for the same period previous fiscal.

Total income of the company has risen 16.77 per cent to Rs 246.58 crore for the quarter from Rs 211.16 crore a year ago, the company informed the BSE.

Aurobindo Pharma

Pharmaceutical company Aurobindo Pharma today posted 61.66 per cent increase in net profit at Rs 58.54 crore for the quarter ended June 30, as compared to Rs 36.21 crore for the same quarter last year.

Total income (net of excise) of the company has risen 22.07 per cent to Rs 512.91 crore for the quarter ended June 30, from Rs 420.17 crore for the corresponding quarter a year ago. — Agencies

Top

 
BRIEFLY

CPI-IW up by 1 point
Shimla, July 31
The All-India Consumer Price Index Number for Industrial Workers (CPI-IW), on base 2001=100, for June this financial year increased by one point to stand at 130, sources in the Labour Bureau said. The index increased by six points in Amritsar centre, four points each in Warrangal, Emakulam and Quilon centres, three points in seven centres, two points in 11 centres and one point in 27 centres, they said in a release here. — UNI

Satyam-FIFA contracts
Mumbai, July 31
Major IT solutions provider Satyam Computer Services has signed two multi-million dollar contracts to support FIFA, the international governing body of football, and its major forthcoming events. Satyam would develop a customised event management system and build extranet and intranet over the next 12 months, said Satyam’s head of European operations, senior vice-president, director Keshab Panda. — PTI

BMW luxury sedan
New Delhi, July 31
Buoyed by good response to its products in India, German luxury carmaker BMW today said it is revising sales target for the country upwards and will launch its sports coupe car M Series by next year. The company also announced the market launch of its premium luxury sedan 5 Series with prices starting at Rs 37 lakh and going up to Rs 45 lakh (ex-showroom). BMW India president Peter Krnoschnabl said the company is also planning to bring its sports coupe M series cars M3 and M5 by next year, and added it would be imported based on customer orders.-— PTI

Syndicate Bank
Bangalore, July 31
Syndicate Bank has revised the rates of interest on domestic term deposits of 400 days’ tenure to less than two years from tomorrow. The rates are revised to 8.90 per cent per annum for the period 400 days to 499 days and 9 per cent for the period 500 days to less than two years, a bank statement said. The interest rates for the one-year tenure to 399 days at 8.25 per cent per annum and three years and above at 9 per cent per annum remain unchanged. — PTI

Berger Paints
Kolkata, July 31
Berger Paints India Ltd would commission its Pune plant in the coming year, a company official said today. The Pune plant, set up to manufacture automotive paints, would involve an investment of Rs 50 crore, Berger MD Subir Bose told reporters on the sidelines of the company’s annual general meeting here. Berger chairman K S Dhingra said that the company was looking for overseas acquisitions in countries like China, Brazil and Eastern Europe. Berger was looking at acquisitions in the domestic market as well. — PTI

LCD TV
Bangalore, July 31
Epigon Media Technologies has come out with a 20-inch LCD TV with HDMI interface to cater the Indian market. Expected to be marketed at Rs 16,000 price tag, the television was on the test line. With menu display in English and Hindi, viewers could enjoy two pictures on a screen with single tuner technology. It had an optional music alone facility besides 100 preset channels, said a company officer R J Venkatramanan. — UNI

Top

 


HOME PAGE | Punjab | Haryana | Jammu & Kashmir | Himachal Pradesh | Regional Briefs | Nation | Opinions |
| Business | Sports | World | Mailbag | Chandigarh | Ludhiana | Delhi |
| Calendar | Weather | Archive | Subscribe | Suggestion | E-mail |