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Tata Chem, HLL unit swap set at 2.5:1
THE boards of Tata Chemicals Ltd (TCL) and Hind Lever Chemicals Ltd (HLCL) on Friday approved the proposal to merge both companies and cleared a swap ratio of 2.5:1 (i.e., 2.5 shares of TCL for every one share of HLCL held) for the ...
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Export volumes push up Tata Chem net
TATA Chemicals Ltd (TCL) on Friday reported a profit-after-tax of Rs 55.5 crore for the third quarter ended December 31, 2002, as against the previous year corresponding period's Rs 46.09 crore. Net sales/income from operations was Rs 460.78 ...
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HFCL holders convert big portion of GDRs
INVESTORS in the Global Depository Receipts (GDRs) of Himachal Futuristic Communications Ltd (HFCL) do not believe in investing for the long haul. Within a few weeks of subscribing to the company's GDRs, the holders have converted a major ...
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Commerce gives way to cricket, for now
INDIA can now play its strongest team for the World Cup two weeks from now. But corporate sponsors will have to wait for the event to get over before the commercial impact of the sponsorship contract plays itself out. The much-awaited ICC ...
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Qatar Petro seeks nod for airline venture again
QATAR General Petroleum Corporation has again moved the Foreign Investment Promotion Board (FIPB) for setting up a non-scheduled airline company as a joint venture with two Indian partners. The two partners are Great Eastern Shipping Company Ltd ...
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TRAI to put out new interconnect charges today
THE much-awaited regulation on interconnection usage charges (IUC) and basic services tariffs, which had rocked the telecom sector over the past two weeks, is finally due to be announced by the Telecom Regulatory Authority of India (TRAI) ...
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Meet on oil PSUs tomorrow
THE Vajpayee Government has chosen the Republic Day to press forward its resolve on the privatisation process by convening a meeting of the Cabinet Committee on Disinvestment (CCD) to finalise the modalities for disinvestment in HPCL and ...
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Squeeze in income tells on VSNL net
THE tariff trends in the telecom market have significantly dragged on the bottomline of Videsh Sanchar Nigam Ltd, whose net profit has fallen a hefty 77 per cent, year on year, for the quarter ended December 31, 2002. Net profit for the quarter ...
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Rethink on long-distance plans likely
THE dramatic fall in national long-distance tariffs, the war having been started by Reliance and cellular operators, is forcing VSNL to do a rethink on its national long-distance telephony plans. "We have started services in a small way in ...
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RBI asks dealers not to give forex
THE Reserve Bank of India has directed all authorised forex dealers not to release any foreign exchange to the sponsors of the World Cup cricket event without its permission. In a circular to dealers, the RBI said that foreign exchange must not ...
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Hindalco Q3 net down 39 pc on lower volumes
LOWER volumes and rising input cost impacted Hindalco Industries Ltd's net profit which fell by 39 per cent to Rs 101.1 crore for the third quarter of 2002-03 against Rs 165.5 crore in the year-ago period. Net sales slipped to Rs 521.5 crore ...
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Better productivity drives Indo Gulf net profit up 20 pc
IMPROVEMENT in asset productivity and operating efficiencies helped Indo Gulf Corporation Ltd (IGCL) to post a 20 per cent increase in its net profit at Rs 105.55 crore for the third quarter of 2002-03 against Rs 88.17 crore in the year-ago ...
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IBP's Q3 net slides 98 pc
IBP Company Ltd, a subsidiary of Indian Oil Corporation (IOC), has recorded a net profit of Rs 1.32 crore for the quarter ended December 31, 2002, down 98 per cent over the Rs 66.62 crore recorded in the corresponding period last year. While ...
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