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Nokia to double production to 50 million a year

Chennai, Mar 12 (UNI) Nokia, the global leader in mobile communications, today announced doubling of its handset production to 50 million units a year at its Sriperumbudur plant, near here, from June.

Mr Jukka Lehtela, the outgoing Director of Nokia's India operations, told reporters that eight additional factories at its manufacturing plant would become operational by early next year.

He also announced that Mr Sachin Saxena would succeed him as Director, India Operations.

The plant, which celebrated yesterday its first anniversary of manufacturing in India, produced 25 million handsets in 2006.

Nokia would also start manufacturing components from May this year, he said.

Nokia India and its suppliers would create more than 20,000 direct job opportunities as part of the 150 million dollar investments, one of the biggest in South Asia, he said.

The Nokia plant at Sriperumbudur, the company's 15th in the world, at present employs 3,900 people.

Nokia's export to South East Asia, West Asia and Africa, last year was placed at about 35 per cent of its production.

The Sriperumbudur plant would be explanded from the present 30,000 sqm to 53,000 sqm by July, the outgoing Director said.

UNI

Sensex crosses 13,000 mark in mid-morning session

Mumbai, Mar 13 (UNI) The BSE Sensex today crossed 13,000 mark and touched 13,026 points in the mid-morning session, after resuming high at 12,924 points with a modest gain of 22 points from its last close of 12,902.63 points as buying continued for the index based pivotals, brokers said. Later, the Bombay Stock Exchange (BSE) Sensitive Index (Sensex) rose 51.48 points, to 12,956.23. It had opened higher, at 12,924.50, and surged to a high of 13,026.85. Its low for the day.....

REL announces new discovery of hydrocarbons in east coast blocks

Mumbai, Mar 13 (UNI) Index heavyweight Reliance Industries (REL) today informed the Bombay Stock Exchange(BSE) that the company has made new discoveries in the east coast blocks in the Godavari basin in Andhra Pradesh. These are in the well KG-D6-P2 in block KG DWN 98/3 (KG D6), and in the well NEC 25 A5 in block NEC OSN 97/2 (NEC 25). The Company has successfully completed drilling of well KG-D6-P2, which was the forty-sixth exploratory well and the twenty-second exploratory.....

Geojit allots shares to BNP Paribas

Mumbai, Mar 13 (UNI) After receiving all necessary approvals, the Board of Directors of Geojit Financial Services Ltd today issued 5.68 crore shares and 2.28 crore warrants to BNP Paribas. With this final step, the French Banking majors has become the largest shareholder in Geojit Financial Services Ltd. The name of the company will be changed to ''Geojit BNP Paribas Financial Services Ltd and the business will continue to be managed by the current team headed by C J George, Managing.....
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