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Monitor

ABB bags Chettinad Cements order

NEW DELHI: ABB has bagged an order valued at Rs. 18.8 crores from Chettinad Cements for its upcoming cements project at Karaikal in Tamil Nadu. The order marks ABB bid to build links with the new economy with IT applications for the industry. Thus the Chettinad plant will be the first cement unit in the country to be equipped with medium voltage drives offering ease of operation, trouble shooting and energy savings, said a ABB release.

- Our Special Correspondent.

Business Plan contest

CHENNAI: Chrysalis Capital and Indian Institute of Management, Bangalore, have come together to conduct a nation-wide Business Plan Contest christened Bzz Wings 2001. The contest will be conducted under the aegis of the N.S. Raghavan Centre for Entrepreneurial Learning (NSRCEL) which is part of IIMB and will invite participation from premier educational institutes in India, according to a release. The contest was formally launched at IIMB on June 29.

- Our Corporate Bureau

State Bank of Indore launches credit card

INDORE: State Bank of Indore, an associate of State Bank of India, has launched its credit card in collaboration with the U.S.-based GE Capital. Mr. Iqbal Singh, chief executive officer of State bank of India, cards division, launched the card at a simple ceremony here. Initially the facility will be available in Indore and Bhopal in the State along with 30 other cities in the country.

- PTI

Dabur mulls re-entry into cosmetics

NEW DELHI: Dabur India is contemplating a re-entry into the cosmetics business six months after it phased out its 'Samara' brand from the market. The company has begun conducting a countrywide market research to find whether cosmetics business will be viable and if the results are positive it would relaunch the cosmetics brand, company sources said.

- PTI

Zap Infotech to raise Rs. 330 cr.

MUMBAI: Integrated software services and education company Zap Infotech is planning to raise over Rs. 330 crores ($75 millions) by divesting 15 per cent stake in favour of strategic partners in two months. ``We are planning to raise $75-100 millions by offering 10 to 15 per cent stake to strategic investors,'' Zap managing director Mr. Abbas Mithani told reporters here. ``The proceeds will be utilised to fund acquisition of over 10 IT companies with strong marketing, technology and research base, of which five in the U.S. and two in the U.K. were already identified and due diligence process is underway,'' he added.

- PTI

HDFC Bank, i-flex solutions form JV

CHENNAI: HDFC Bank and i-flex solutions have announced the formation of a joint venture that would offer the latter's flagship product - FLEXCUBE - on an application service provider (ASP) model. Both companies will have an equal stake in the JV. The new entity would enable small and medium banks to access state-of-the-art technology on `pay for usage' basis, according to a release.

- Our Corporate Bureau.