Corporate notes

ESPN STAR threatens to switch off Hathway

Leading sports broadcaster ESPN STAR Sports on Thursday said it has served notices for switching off signals for its channels on cable network operator Hathway Cable and Datacom due to non-payment of dues. While signals have been switched off already in some cities, all the ESPN STAR Sports channels would go off-air across the country from December 1 on Hathway's cable network. "We have been left with no alternative but to resort to this (switching off signals) as Hathway owes us more than Rs 16.5 crore and has been showing no signs of making this payment in spite of repeated requests," ESPN Software India associate vice-president (affiliate sales) Makarand Palekar said.

ONGC (ONGC.NS : 1100.1 -6.15) eyes Iran gas field

Oil exploration major ONGC is eyeing a 20-25% stake in a giant Iranian gas field even as it awaits Tehran's nod for its plan to develop a gas field it had discovered two years ago. ONGC Videsh, the overseas arm of ONGC, will discuss participation in the development of Phase-12 of the gigantic South Pars gas field in the Persian Gulf when top officials of Iranian national oil firm visit the country next week, sources said.

Barry acquires Think3

Business and technology solutions company Barry-Wehmiller International Resources, having operations in Chennai, has completed the transition of Think3, an India-based engineering services division serving the European market. The new division will be integrated with Barry's engineering services operations in Chennai, said a release.

Videocon (VIDEOIND.NS : 218.75 +5.35) stores

Consumer durable major Videocon on Thursday said it would open over 10,000 new stores of its retail venture--Next and Planet M--over a period of next three years as part of its plan to increase footprint in the rural and hinterland areas. "There are over 10,000 small towns in the country. We will have one store in each town in the next three years," Videocon Industries director Pradeed Kumar N Dhoot said.

Honda's new 100 cc bike

Two-wheeler major Honda Motorcycles and Scooters India's (HMSI) plan to enter the 100-cc segment is in "the final stage" and the bike will soon be unveiled, a company official said here on Thursday. The 100-cc segment is the largest in volume terms in the domestic two-wheeler market. The company, which has presence in the 125-cc segment with Shine and the Stunner models and in the premium 150-cc segment with Unicorn, will soon launch the 100-cc variant at Auto Expo in New Delhi, vice-president & operating head-purchase Anupam Mohindroo said.

Patni family sells stake

Promoters of software services firm Patni Computers have further sold 0.3% cent stake in the company aggregating to Rs 17.65 crore through open market transactions. Three promoters of the company have sold 3.83 lakh shares, representing 0.3% stake in the company worth Rs 17.65 crore, Patni Computer said in a disclosure to the BSE (^BSESN : 16031.27 -10.91).

Pulsar sales soar

Bajaj Auto (BAJAJAUTO.NS : 2101.05 0)'s Pulsar has seen an 80% jump in sales over the last six months. The average monthly sales during Q2 were 45,000 units.

Correction

In the report titled "TCS eyes 25% share of banks' IT spend", it was incorrectly mentioned that TCS derived Rs 600 crore from its India operations in the last financial year. The correct figure is Rs 2,182 crore. The error is regretted.