Ajanta plans cable unit in Himachal

World's largest producer of wall clocks, Ajanta Ltd, is planning to set up a cable manufacturing unit in Himachal Pradesh by 2008.

Nevil Patel, director of Ajanta Ltd, said, "We are in the process of setting up a cable manufacturing unit and the probable site will be in Himachal Pradesh."

The company has planned its foray into the cable manufacturing segment in phases. In the first phase, it would source cable from well-established Chinese players in this segment as well as enter into a joint venture with an Indian local manufacturer.

"The cables sourced from China and locally will be sold in the domestic market under the brand name Ajanta," Patel said.

In the second phase, the company would enter into a joint venture for buying machinery and technology from a Chinese company. After procuring the technology know-how from its Chinese partner, the group will set up its unit in Himachal Pradesh.

He said the company would commission its cable manufacturing unit in 2008 and would launch its cable products the same year.

According to Patel, the total market size of the cable sector in India is approximately Rs 1,000 crore. While the organised sector is worth Rs 600 crore, the remaining falls under the unorganised sector. On Wednesday, Ajanta launched its modular switches in Ahmedabad.

In recent years, the group with its core business in the electrical consumer goods segment has diversified into three sector "" food, auto and construction material segment.

The company will be launching its wafers and range of namkins in the coming months. It will also soon launch e-Bike, a motorcycle run on battery.