Business & Economy
Tata Steel plans to
set up retail chain
What is India News Service, Monday, 25 April 2005, 1600 hrs IST
The country\92s largest integrated private
sector steelmaker, is readying
for a big retail push.
According to company sources, Tata Steel is looking at opening at least 15
branded retail outlets across the country during the current financial year. The
first store is likely to come up in Kolkata in a month.
A Tata Steel spokesperson
confirmed the company\92s retail plans but refused to furnish further details.
According to sources in the
advertising industry, Tata Steel has also called for a mass-media branding
exercise for the new retailing initiative. It is learnt that advertising
agencies have also been asked to come up with a suitable brand name for the
chain of stores.
\93As a part of the brief, we
have been asked to come up with a communication that reflects the trust
associated with the Tata group and encourages greater consumer involvement while
making buying decisions,\94 said an executive with an advertising agency.
Advertising agency sources
said as a value addition, Tata Steel, like some paint companies, would also
provide construction-related advice and solutions to retail consumers through
its stores.
TRAI
to outsource studies: Faced with shortage in manpower the Telecom Regulatory
Authority of India (TRAI) is restructuring its operations to outsource some of
its activities to private consultants.
RBI
may hike bank rate, feel bankers:
The rising US interest rates combined with the soaring global oil prices, have
created a piquant situation for the RBI to provide a clear direction in respect
to the monetary policy measures during the first half review announcement on
April 28.
Taxman
may net 45% of Daewoo sale: Auction of Daewoo's assets may generate up to Rs
3,000 crore, but a lion\92s share of it could go into the tax department\92s
kitty.
Exporters upbeat, says survey:
Buoyed by the surge in exports, Indian exporters are optimistic about their
business prospects in the current financial year despite the hardening of the
rupee against the dollar in the past three years.
TAFE
holds on to Eicher brand: The company
is keen on consolidating its position
with an additional 8 per cent of the market share.
Tech constraint trips plan for cheaper power:
Even as thermal power plants globally are shifting to the highly efficient 660
MW-based supercritical sets, India's quest to produce cheaper power in the long
run through this energy-efficient technology has received a setback.
CII
for greater Indo-Japan ties: Ahead
of the Japanese Prime Minister Junichiro Koizumi\92s high-profile visit to India
on April 28, the Confederation of Indian Industry, has called for greater
bilateral cooperation in the private sector and in various economic fields
between the two Asian powerhouses.
TCS,
NTPC to replace HPCL, Zee in Sensex: In a major reshuffle in its stock
indices, the Bombay Stock Exchange (BSE) will be including Tata Consultancy
Services (TCS) and National Thermal Power Corporation (NTPC) in its benchmark
index, the BSE Sensex, from June 6.
Moto
kicks off war vs Nokia: Motorola Inc. is changing its tactics to take on
competitors, especially Nokia, by getting aggressive in the market for phones
priced for just $50 and less, even though their hot-selling Motorazr is a pricey
must-have mobile.
Recovery may
continue: Lastweek, Dalal Street recorded a mild recovery as a correction in
short-term outlook set in. However, the liquidity is yet to cover a lot of
ground to match the February-March average.
IEA prunes oil
demand forecast: International Energy Agency (IEA), which reports on the
global oil demand/supply and inventories, has revised its daily demand forecast
slightly downward by 50,000 barrels to 1.77 million barrels a day.
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