CORPORATE
ANNOUNCEMENTS
Nicholas Piramal set to establish subsidiary in US
IN an effort to increase its brand equity in the world's largest pharma market, besides getting closer to other "innovative" players in the pharma segment - the Mumbai-based Nicholas Piramal India Ltd (NPIL) is set to establish a subsidiary in ...
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Ashok Leyland plans stock split
ASHOK Leyland Ltd has informed the Bombay Stock Exchange that it proposes to "subdivide the equity shares of the company from the present face value of Rs 10 each to a lower face value." The proposal, if approved by the board, will be placed ...
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P&G to stop VapoRub export to Asian countries
PROCTER & Gamble Hygiene and Health Care Ltd (P&GHH) will stop exporting Vicks VapoRub (VVR) to Asian countries, come February 1, the company today told the BSE. "India will continue to be the supplying hub of VVR for Procter & Gamble ..
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Peopleone now in Pune, Bhopal
BANGALORE: The city-headquartered human resources services firm Peopleone Consulting (I) Pvt Ltd has commenced operations in Pune and Bhopal, a company news release said. The new Pune office will be staffed by 15 professionals while the ...
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MERGERS & ACQUISITIONS
Renfro India acquires Salora Shinsung
RENFRO India Private Ltd, an Indian joint venture of Renfro Corporation US, on Thursday announced it had acquired Salora Shinsung Textile Company, a 100-per cent export-oriented sock manufacturing unit, located at Nashik. With the acquisition, ...
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NEW PROJECTS
Liberty setting up new facility
LIBERTY Shoes Ltd is setting up a new manufacturing facility near Dehradun as part of its programme to augment capacity to cash in on the growing footwear market. Mr Adarsh Gupta, Executive Director of the company, said the new facility, which ...
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Indal to invest Rs 700 cr in Hirakud, Kerala smelters
INDAL Ltd has lined up investments worth Rs 600-700 crore for the next two years for its smelters at Hirakud and Kerala, according to Mr S.K. Tamotia, President and CEO. He was talking to newspersons at the sidelines of the 34th National ...
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Metropolis to set up labs in every State
METROPOLIS Health Services Ltd, a diagnostic laboratory chain, plans to set up one major laboratory in every State that will be connected to regional labs in different parts of each State, as part of its plan to become a Rs 200-crore company in ...
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ALLIANCES & JOINT VENTURES
Italian co to invest in leather jt venture
CONCERIA Virginia Italy has made the first foreign direct investment in Indian leather tanning through a joint venture with Forward Group. The venture, among others, is expected to reduce operating costs for leather footwear exporters and make ...
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BONUS ANNOUNCEMENTS
Pricol turnover up, announces 1:2 bonus
RIDING on the boom witnessed by the automobile industry, the city-based automotive components major Premier Instruments & Controls Ltd (Pricol) has reported a substantial increase in turnover and net profit in the third quarter of the current ...
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OUTLOOK
RIL sees Rs 30,000-cr cash flow in 3 years
THE Reliance group today said that it would have cash flow of Rs 30,000 crore from various operations in the next three years. The group is also open for acquisition globally from the cash generated. The cash flow would be from the ...
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Ajanta hopes to achieve Rs 120-cr turnover in FMCG
THE Rs 80-crore Ajanta India Ltd, the FMCG arm of the Rs 300-crore Ajanta Quartz group, has projected a sales turnover of Rs 120 crore this fiscal. At a press conference to announce the launch of Ajanta India's FMCG products in the Delhi market ...
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Samsung expects to top Rs 5,000 cr sales this year
SAMSUNG India has posted a turnover of Rs 3,708 crore in 2003 with consumer electronics and home appliances business showing a growth of 30 per cent during the year. The company expects to better performance in the current calendar year and ...
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MRPL to register net profit by next fiscal
MANGALORE Refineries & Petrochemicals Ltd (MRPL) will register cash profits for the current financial year, according to Mr Subir Raha, Chairman and Managing Director of ONGC Ltd. He was talking to presspersons after delivering the theme ...
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Arambagh Hatcheries eyes overseas market
KEEN to turn a threat into opportunity, the city-based Arambagh Hatcheries, one of the bigger players in the organised poultry industry, is now eyeing market in countries such as Japan. These markets were being catered to by some of the ...
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PEOPLE
Tognatta to head Singer India
TRENDS
Average salaries to grow 12 pc this year, says Hewitt survey
In 2004, the non-bank finance companies (NBFCs) are expected to dole out the maximum salary hikes at 14.7 per cent, followed by software development at 14.5 per cent, and entertainment and media companies at 14.2 per cent.
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