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Intel investing Rs 1,100 cr in India afresh

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Bengaluru, June 14 : World’s giant chip maker Intel Corporation is investing Rs 1,100 crore ($170 million) in India to establish a new Research and Development (R&D) centre in this tech hub, said an official on Wednesday.

“We are investing Rs 1,100 crore in our upcoming R&D centre in Bengaluru as part of our India expansion plans,” said Intel India General Manager Nivruti Rai at a news conference on the US-based multinational’s investment and expansion plans in the sub-continent.

The new R&D facility in an eight-acre campus is expected to generate about 3,000 jobs over the next 18 months. It will also have a computer software development and hardware design services facility.

The fresh investment is in addition to $2 billion the chip maker had invested in the country till 2016.

The company’s Indian subsidiary has about 7,000 techies to design and power semiconductor chips for its global customers, including original equipment manufacturers (OEMs) of computers, smart phones and other electronic devices.

Karnataka Chief Minister Siddaramaiah and IT Minister Priyank Kharge were also present on the occasion.

The state high-level clearance committee, headed by the Chief Minister, cleared the company’s investment proposal on February 1, 2016 and the Karnataka Industrial Development Board allocated it the land in the city’s south-east suburb.

The company’s India operations focus on R&D, hardware design, testing and validation of computer hardware and software products for the next-generation digital devices.

The Intel India arm is registered with the state-run Software Technology Park India (STPI) under the 100 per cent export oriented unit scheme of the government.

IANS

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2018 Ducati Multistrada 1260 launched in India at Rs 15.99 Lakh

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2018 Ducati Multistrada 1260

New Delhi, June 18: Ducati India has just launched the 2018 Multistrada 1260 in the country at Rs 15.99 lakh (ex-showroom), while the Multistrada 1260 S has been priced at Rs 18.06 lakh (ex-showroom). Ducati India announced the launch through its social media on Tuesday.

The 1260 is the company’s flagship adventure-tourer and comes with a number of changes over the model it replaces. These updates include additional power, a revised chassis and new equipment.

The Multistrada gets a new 1,262cc, liquid-cooled, L-Twin motor. It produces 158hp at 9,500rpm, a 6hp increment over the 2017 Multistrada. Torque, too, has gone up by 1.5Nm, bringing the total up to 129.5Nm, which is delivered at 7,500rpm. The new engine features what Ducati calls Desmodromic Variable Timing (DVT), which, combined with Desmo valve actuation, results in good low-end torque. This tech also helps make the engine Euro-IV emission norms compliant.

The DVT on the Ducati Multistrada 1260 combines variable timing with desmo valve actuation which delivers an ideal combination of horsepower, low-rpm torque as well as meets Euro-4 emission norms. The Multistrada 1260 DVT engine is now capable of 160 PS at 9,500 rpm and 129.4 Nm at 7,500 rpm. However, it now gets a very flat torque curve, delivering 85 percent of peak torque from as low as 3,500 rpm, something ADV riders will greatly appreciate.

Internationally, the Multistrada 1260 is available in four variants, the 1260, 1260 S, the S D|air and the Pikes Peak – the last two will only come to India later, if at all.

To make the most of the new engine, the chassis has been retuned as well. The steering rake has been increased from 24 to 25 degrees, adding 5 mm of trail, and the swingarm is 48 mm longer.

This takes the wheelbase to 1,585 mm from 1,530 mm on the earlier model. The longer wheelbase should be able to facilitate more comfortable riding and better stability. The Multistrada 1260 has 48 mm inverted forks up front and a rear shock by Sachs, both fully adjustable.

The 1260 S also receives a new high-definition colour TFT display, navigation, semi-active Ducati Skyhook Suspension (DSS), as well as barrage of rider assist options including a vehicle hold control, as well as four riding modes – sport, touring, urban, and enduro.

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Weak global cues subdue equity indices; Sensex down over 200 points

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Sensex Nifty Equity

Mumbai, June 19: Weak global markets suppressed the key Indian equity indices on Tuesday afternoon with the benchmark 30-scrip Sensex of the BSE losing over 200 points so far.

Benchmark global markets were weighed down by signs of a resurgent trade war after US President Donald Trump on Monday reportedly threatened to impose tariffs on additional $200 billion worth of Chinese goods.

According market analysts, heavy selling pressure was witnessed in auto, metal and consumer durable stocks.

At 1.16 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 10,719.10 points, down 80.75 points or 0.75 per cent from the previous close of 10,799.85 points.

Similarly, the BSE Sensex, which had opened at 35,552.47 points, traded at 35,312.50 points (1.17 p.m.) — down 235.76 points or 0.66 per cent — from its previous session’s close of 35,548.26 points.

The Sensex has so far touched a high of 35,552.47 points and a low of 35,290.96. The BSE market breadth was bearish with 1,859 declines and 598 advances so far.

The top gainers on the Sensex were ONGC, HDFC Bank, Bharti Airtel, Asian Paints and ITC whereas Vedanta, Tata Motors (DVR) and Bajaj Auto, Adani Ports and State Bank of India were the major losers.

On the NSE, Gail, Bajaj Finance and HDFC Bank were the highest gainers while Vedanta, Hindalco Industries and Indian Oil Corp lost the most.

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Chanda Kochhar goes on leave, ICICI names Sandeep Bakhshi as COO

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New Delhi, June 19:ICICI Bank appointed Sandeep Bakhshi, who heads the bank’s life insurance arm, as chief operating officer.

The board of directors of ICICI Bank allowed its CEO Chanda Kochhar to go on leave until a probe into her role in an alleged conflict of interest in sanctioning loans to the Videocon Group was completed.

Bakhshi, who was the deputy MD of ICICI Bank before he was made the group’s insurance head, would run the bank during the absence of Kochhar.

All executive directors on the board of ICICI Bank and the executive management will report to him, the bank said.

Monday’s statement said Kocchar will remain in her role as MD and CEO of ICICI Bank and Bakhshi will report to her.

Earlier in the day, shares of ICICI Bank rose as much as 4 per cent, amid reports of reshuffle of top management. The stock gained 3.61 per cent to settle at Rs 292.50 on BSE. In intra-day trade, it surged 4.10 per cent to Rs 293.90.

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