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Hexaware is a favourite among investors
Mumbai: The share price of Hexaware Technologies Ltd, formerly Aptech Ltd, has seen a sharp increase in just two days of its listing on the Bombay Stock Exchange.
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US MNC may buy Shasun Chem stake
Mumbai: A US-based pharma major is expected to take a strategic stake in Shasun Chemicals and Drugs. Market sources believe that the strategic stake by the MNC will be to make the company as a base for outsourcing drugs for exports.
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CCEA approves IISCO restructuring
New Delhi: The Cabinet Committee on Economic Affairs has approved a financial restructuring plan for Indian Iron and Steel Company, a subsidiary of Steel Authority of India Ltd.
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BoB unveils Paras with MasterCard
Mumbai: Bobcards Ltd, a wholly owned subsidiary of Bank of Baroda, and MasterCard International have announced the launch of PARAS credit cards.
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NHB to float Rs 85-crore MBS today
Mumbai: The National Housing Bank will launch its fourth mortgage-backed security amounting to Rs 85.35 crore on Wednesday.
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Shantha bio-hepatitis-B vaccine gets WHO nod
Mumbai: Shantha Biotechnics has announced that it been awarded the World Health Organisation certification for its hepatitis B vaccine, Shanvac B, the countrys first indigenous recombinant DNA vaccine.
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CIAL board to discuss private placement, rights
Thiruvananthapuram: The board of directors of Cochin International Airport Ltd is scheduled to meet here on Thursday to discuss pressing issues such as subscription of the long-pending rights issue and private placement.
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UT to hive off non-core businesses
Mumbai: Hydraulics major UT Ltd has firmed up plans to hive off non-core businesses and focus on consolidation in areas of its core competency.
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US firm likely to tie up with Bengal Chemicals
Kolkata: An American chemical major has expressed interest on forming a joint venture company with the century-old Central public sector unit, Bengal Chemicals and Pharmaceuticals Ltd, a company set up by Acharya Prafulla Chandra Ray.
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Cummins India performance on expected lines
Chennai: Cummins Indias performance for the year ended March 2002 has been on expected lines. The company reported a 20.77 per cent dip in net profit at Rs 86.3 crore and a 13.87 per cent drop in sales to Rs 740.91 crore compared to the previous year.
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Tata Engineering May CV sales increases 82%
Mumbai: Tata Engineering has reported total sales of 12,453 vehicles in the domestic market in May 2002 an increase of 12 per cent over the same month the previous year.
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Gail firms up business strategy
New Delhi:
The state-run Gas Authority of India Limited has firmed up a comprehensive business strategy with a view to concentrating on the quality-conscious sector such as raffia, monofilament, wire and cable, insulation, blow moulding and optic fibre cables.
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L&T targets projects in Middle East
Mumbai:
Engineering major Larsen & Toubro has appointed active agents and sponsors in the Middle East and Gulf countries in a bid to garner a share of the urban infrastructure and power projects in the region.
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PPL commissions Rs 5-cr effluent treatment plant
Mumbai:
The Zuari Maroc-owned Paradeep Phosphate Ltd has commissioned an effluent treatment plant, the largest of its kind in the fertiliser industry, marking the beginning of a process that would ultimately give it the status of a zero-pollution plant.
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Post-divestment, SCI to continue with Irano Hind
Mumbai: The Shipping Corporation of India will continue to be a partner with the Iranian government in the Irano Hind Shipping Company after disinvestment.
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RBI allows FIIs to buy up to 49% in UB
Mumbai:
The Reserve Bank of India has notified that foreign institutional investors can purchase equity shares and convertible debentures of United Breweries Ltd up to 49 per cent of its paid-up capital through primary and secondary markets in India.
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Nalco PAT at Rs 53.38 crore
Mumbai: National Aluminium Company has posted a net profit after tax of Rs 53.38 crore, during May.
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Nasscom seeks one-stop agency for IT sector
New Delhi: Nasscom has urged the central government to set up one nodal agency on the lines of the Singapore Economic Development Board to act as a one-window clearance for the fast-growing IT sector.
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Max Healthcare to recast operations
Mumbai: Max Healthcare, part of the Analjit Singh-promoted Max India, is undertaking an organisational restructuring under which it will carve out its hospital care division and ambulatory care division, consisting of Max Medcentres and Dr Max Clinics, into separate performance centres.
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Tisco sails through troubled waters
Mumbai: An analysis by Economic Times Intelligence Group shows that Tata Steel was the least affected by the glut in the steel industry and Essar Steel was the worse hit.
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Aviva Life in strategic alliance with Amex
Mumbai: Aviva Life Insurance, the 74:26 joint venture between Dabur Group and CGU, has entered into a strategic alliance with the American Express for distribution of life insurance products.
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LIC to team up with Bartley for Lankan venture
Mumbai: Life Insurance Corporation has finalised its joint venture partner for its Sri Lankan venture: Bartley.
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Reliance, IPCL slash polymer prices again
Mumbai: Reliance Industries and Indian Petrochemicals Corporation have reduced polymer prices for the second time in 10 days in order to combat imports from overseas suppliers like ExxonMobil and Saudi Basic Industries Corporation.
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domain - B : Indian business : News Review : 12 June 2002 : companies