US satellites to use ISRO platform

US satellites to use ISRO platformIndia's technology safeguards agreement signed with US during the recent state visit of Secretary of State Hillary Clinton in New Delhi will soon yield fruitful results for the space research program of the country. It will enable India to launch smaller satellites for United States at much competitive prices using indigenously developed rockets.

Indian Space Research Organization (ISRO) Chairman, Madhavan Nair said, "Space cooperation with the US has been the agenda of the government. The pact will enable US made satellites or with components of US to be launched from India."

He said that the space body is already providing satellite launching services to various nations at very economical prices and more countries to avail the service on mutually agreeable terms. Country has been developing heavier rocket GSLV-MKIII that will help to further reduce the cost of sending a satellite to space.

Mr. Nair, while launching an indigenous GIS mapping software in Ahmadabad, added, "We will have more opportunities to get foreign satellites for launch from India. Prior to the agreement, users had to wait for clearance for every case."

Meanwhile, ISRO will hold a review of country's first unmanned moon mission, the Chandrayaan, in September to set its operations in order.
 


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.