Biz File — Chandigarh

Punwire hopeful of surge in sales
According to a press release issued here today, Punwire expects a jump in sales in 1999 on account of successful diversification. Since November, Punwire has received Rs 40 crore worth of orders from organisations such as Videsh Sanchar Nigam Limited (VSNL), Department of Telecommunications (DoT) and state police forces, and it expects more orders to the tune of Rs 100 crore. For the nine months ending December 31, 1998, Punwire achieved a turnover of Rs 113 cr, with a post-tax profit of Rs 9.5 cr.

Hyundai set to enter mid-size car segment
Hyundai Motor India Limited is planning to enter the mid-size car segment later this year. The plans for the launch of the luxury car, which will be in the same segment as Honda City and Lancer, are being finalised. “We hope to get the new car in by the end of third quarter,” according to Hyundai director (marketing and sales) B. V. R. Subbu. The company is also coming out with a variant of Santro, with softride’ suspension, next month. The new model will cost about Rs 30,000 more than the existing models. The company is targeting the sale of 50,000 cars, about 35 per cent of share in the non-budget car segment, in 1999-2000.