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CORPORATE
ANNOUNCEMENTS
RIL reduces prices of 7 products
RELIANCE Industries Ltd has lowered the prices of seven of its products for May, while leaving untouched the price of linear alkyl benzene (LAB). Mono ethylene glycol saw the biggest price reduction, from Rs 56.50 a kg in April to Rs 48.60. ...
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Temasek arm, One Equity to invest $7.5m in Apollo Health Street
MAXWELL Mauritius, a wholly-owned subsidiary of Singapore-headquartered Temasek Holdings and One Equity Partners, the private equity arm of JP Morgan Chase, will invest $7.5 million in Apollo Health Street Ltd, a subsidiary of the Apollo ...
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Essar to go for coal gas tech for Orissa steel unit
THE Essar group has decided to adopt the newly developed coal gas-based direct reduction iron (DRI) route for its steel venture in Orissa. Lurgi AG will supply the technology for coal gasification using non-coking coal supplies from Talcher. The ...
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Fixitty Packaging plans operations in Bangalore
FIXITTY Packaging Industries is planning to set up its operations in Bangalore soon. A press statement from Fixitty said it plans to start recruiting personnel to kick-start its operations in the city. The company recently set up its second ...
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Nagarjuna Const bags Rs 150-cr orders
HYDERABAD: Nagarjuna Construction Co Ltd has secured three orders worth Rs 150 crore. These include widening and improving Karnataka State Highways for the Karnataka Road Development Corporation Ltd; project work at HDPE unit for GAIL ...
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USFDA nod for Aurobindo unit
HYDERABAD: The Unit VIII facility of Aurobindo Pharma Ltd (APL) has received approvals from the United States Federal Drug Authority (USFDA) as a site to manufacture Active Pharmaceutical Intermediates (APIs) for the US market. The Unit ...
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COURTS/LEGAL ISSUES
HC declines to stay IPAB's order to rectify trademark
AN order passed by the Intellectual Property Appellate Board to rectify the registered trademark of a Hyderabad-based producer of various kinds of seeds could not be stayed from operation as prayed for by the producer, as no case was made out to ...
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RESTRUCTURING
Unilever to exit tea plantation biz
Unilever Overseas Holdings BV, the Netherlands-based wholly owned subsidiary of Unilever PLC and Lipton India Exports Ltd, a 100 per cent subsidiary of HLL, have sold their stake in Rossell Industries to M.K.Shah Exports Ltd, an exporter and tea ...
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Surana Tele Q4 net at Rs 3.02 cr — To demerge infrastructure biz
THE board of directors of Surana Telecom Ltd (STL) has resolved to restructure the company's business and to demerge its infrastructure business by transferring it to a new company. The move was to position itself as a telecom company and ...
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SICK UNITS
NJMC units referred to PSU reconstruction board
THE Union Ministry of Textiles has referred two units of National Jute Manufactures Corporation Ltd (NJMC), the ailing public sector company, to the Board for Reconstruction of Public Sector Enterprises (BRPSE). Of the six NJMC units, a senior ...
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OUTLOOK
Murugappa group plans to invest Rs 650 cr in capacity expansion
THE Murugappa group proposes to invest Rs 650 crore for expanding capacity of its various companies in the current financial year. Among the larger investments proposed are the Rs 75-crore project by Carborundum Universal to manufacture ...
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TI Cycles looks at semi-urban, rural markets for growth
TI Cycles, a unit of Tube Investments of India of the Murugappa group, plans to tap the semi-urban and rural markets to expand its market for cycles while focusing on the related fitness products in the urban centres, according to Mr A. ...
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PERFORMANCE
Travancore Chem manages cash profit last fiscal
THE State public sector Travancore Cochin Chemicals Ltd, in nearby Eloor, which switched over to energy efficient membrane technology in August, has managed to make cash profits in 2004-05. However, due to debt servicing at high interest rate, ...
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Banga's slogan to start bearing fruit?
THE last time Mr M.S. Banga repeated his usual slogan - first comes volume growth, then value growth, then profits - the cynicism in the press was palpable. For some years, the company's top line had stagnated at around Rs 10,000 crore ...
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Maruti sales down 4 pc in April; hikes prices
MARUTI Udyog Ltd has registered a four per cent dip in its April sales due to lower demand for the Maruti 800 and a decline in exports in the month. The company sold 38,190 units in the last month, as compared with 39,838 units sold in April ...
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Hyundai vehicle sales in April tops 19,000
HYUNDAI Motor India sold a total of 19,915 vehicles in April 2005, a 2.2 times jump over the 9,001 units it sold in April last year. Domestic sales at 13,362 vehicles this April marked a 2.3 times increase over the 5,670 vehicles it sold in the ...
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Bajaj Auto posts 36 pc rise in sales
BAJAJ Auto Ltd (BAL) on Monday reported a 36 per cent rise in total sale of 2 and 3-wheelers to 1,65,045 units for April 2005, from the previous corresponding 1,21,399 units. Sale of 2-wheelers increased by 40 per cent to 1,47,592 units ...
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TVS Motor sales up 13% in April
TVS Motor Company's total two wheeler sales in April 2005 stood at 92,400 units compared with 81,032 units, during the same period last year, recording a growth of 14 per cent. Motorcycle sales registered a 13 per cent growth. The company sold ...
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Hero Honda sales up 20 pc in April
HERO Honda has registered a 20.09 per cent jump in the sales of motorcycles to 2,35,422 units in April 2005, compared to 1,96,024 in April 2004.
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