JT Mobiles Ltd (JTM) has reshuffled its top management with KS Reddy taking over as its president. He replaces Frank D Hough who stepped down last week following the expiry of his contract. Amir Sangin will be the executive vice president & head of the Karnataka region of JTM. The company, which holds cellular licence for the Karnataka and Andhra Pradesh circles, is likely to drop its plans to set up a cellular backbone in Karnataka. According to Reddy, the company is exploring many alternative possibilities like utilising networks of the railways and Karnataka Electricity Board.

Spencer's Q3 turnover up 17 per cent:

Spencer & Co Ltd, a retail chain of the RPG group, has reported a turnover of Rs 64.31 crore for the quarter to December 31, 1998. It is an increase of 17 per cent over that in the same period previous fiscal. According to the company's unaudited financial results for the third quarter of the current fiscal, its profit before tax (PBT)has gone up by 20 per cent (over that in the same period of previous fiscal) to Rs 85.33 lakh, and profit after tax (PAT) stands at Rs 63.33 lakh. For the first nine months of the current fiscal, it has reported a PAT of Rs 2.14 crore, which is more than the PAT of Rs 2.02 crore earned in the whole of the previous fiscal.

IOC, ONGC may form synergy:

The state-owned Indian Oil Corporation (IIOC) and Oil and Natural Gas Corporation Limited (ONGC) have identified certain synergic areas for mutual cooperation at home and abroad, sources said. IOC had developed over the years technology and expertise for setting up and modernising crude-based down stream projects. It had also patented eighty of its products in the United States. While the ONGC had developed specialised skills for identification, exploration and evaluation of oil, nodules and natural gas reserves in any part of the world.

Cromptom Greaves, Tadiran sign pact:

Crompton Greaves Ltd (CGL) has signed an MoU with Israel-basedTadiran Telecommunications Ltd for marketing and servicing the latter's Coral range of telecommunications products in the India. Tadiran is a leader in the development and manufacture of telecom equipment and provides solutions to businesses and telecom operators around the world. CGL chairman and managing director KK Nohria and Tadiran's business and access division director Zev Aviv told reporters that the tie-up would be mutually beneficial and their customers would get unrivaled cutting edge technologies.

Wilnet extends operations:

Wilnet Communications Private Limited, a group company of Rs 350 crore Cadila Pharmaceuticals, plans to extend its operations in 15 stations across the country. Wilnet Communications has signed its First Internetservice Provider (ISP) licence agreement with the department of telecommunications and would launch `Wilnetonline' internet access service in other cities of Gujarat namely Baroda, Surat, Gandhidham, Jamnagar, Rajkot and Bhavnagar by January-end, accordingto a company release. The company would use state-of-the-art technology for providing high quality internet access service to its subscribers.

RIL yet to constitute gas cracker plant board:

The Reliance Industries Ltd (RIL) was yet to constitute its board of directors to kickstart the stalled Assam gas cracker project at Tengakhat in Assam, Chief Minister Prafulla Kumar mahanta said . "The government has done its job, now the ball is in their court, said Mahanta talking to reporters. The gas cracker project, a part of the Assam accord clauses, is a Rs 3000-crore joint sector project between the Assam government and the private sector RIL.

SAIL in a fix:

The management of Steel Authority of India Ltd (SAIL) is in a bit of a fix following its own decision to close the company's Ranchi airbase and transfer the two aircraft, both pretty old, to the Burnpur airbase in West Bengal. The aircraft need to be flown to Burnpur since the transport department of SAIL's Research & DevelopmentCentre for Iron & Steel has found that transporting them by road was not feasible. But at least Rs 12 lakh are needed to bring the aircraft back to flying condition, according to a SAIL official. According to another source SAIL was also considering a proposal to sell the two aircraft in their present condition, instead of moving them to Burnpur, to avoid further expenditure.