EIL officers worried over L&T monopoly after Selloff 
Mumbai: The EIL Officers Association has raised the issue of monopoly in the privatisation of Engineers India Ltd. 
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India to be Volvos export hub for South Asia 
Bangalore: Volvo India Private Ltd, the fully owned subsdiary of the Swedish auto major Volvo, would make India as a hub to export their products to the South Asian region replacing Singapore. 
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MPT Awards berth operations to act Shipping, awaits centres nod 
Mumbai: Mumbai Port Trust has awarded the operations of its two multi-purpose berths to a c t Shipping Ltd on BOT (build-operate and transfer) basis for a period of 20 years.
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Bilt profit rises by 29% to Rs 20 crore 
New Delhi: Ballarpur Industries Limited has reported a 29 per cent rise in net profit to Rs 20 crore on a marginal drop in revenues to Rs 406 crore for the fourth quarter ended June 2002. 
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Birlas open new front for L&T takeover
Mumbai: The AV Birla Group is in talks with the Unit Trust of India to buy its 10.7 per cent stake in Larsen & Toubro, in a move that will push its stake in Indias second-largest cement company to close to 25 per cent from the existing level of 13 per cent.
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DCA examines consolidated accounts
New Delhi: DCA is examining the option of making it mandatory for corporate groups to prepare consolidated accounts of all associate companies, including subsidiaries, under the Companies Act.
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No China jump for Wipro yet
Bangalore: Ever since Infosys announced that it was looking at China for a potential development centre, most of the other software firms also made similar noises. The one exception happens to be Wipro.
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MoF scouts for new sponsors for UTI
New Delhi: The Finance Ministry is looking for new sponsors for UTI. The search began after Finance Minister Jaswant Singh said he was not keen on revamping UTI using original contributors LIC and GIC. 
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IBM's best-kept secret: it's huge in software too
There is more to IBM than the hardware boxes that it makes. Not many are aware of the Big Blue's strength in software and that it is the second largest software vendor in the world.
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Bombay HC orders Alpic Fin liquidation
Mumbai: The Bombay High Court has ordered the liquidation of Alpic Finance in response to a winding-up petition filed by the Small Industrial Development Bank of India (Sidbi). 
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SC Johnson to fully own SCJ Products
Ahmedabad: The US-based cleaning products major SC Johnson & Sons is buying out the 50 per cent stake of Indexport Ltd in the Indian joint venture, SCJ Products, thereby making it the groups wholly-owned subsidiary. 
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Total Fina to buy out Daja in Elf Lubricants
Ahmedabad: The French petroleum major and worlds fourth-largest oil company Total Fina Elf is planning to consolidate its lubricants business in India. As part of its international restructuring programme, Total Raffinage Distribution, part of Total Fina Elf, would acquire the entire equity holding in Elf Lubricants India from Daja 20 of France for 85 million francs. 
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MUL to focus on R&D for growth
New Delhi: In the first major strategic initiative after being taken over by Suzuki, Maruti Udyog is preparing a three-year road map for growth which will involve cutting costs by 30 per cent and increasing productivity by 50 per cent. 
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Zee promoters promise to repay Rs 155 cr
Mumbai: Promoters of Zee Telefilms are expected to pay back Rs 155 crore they owe to the company over the next two years. The money was borrowed through Buddha Films, the vehicle acquired and subsequently demerged by Zee Telefilms to act as a platform for its proposed foray in sports properties and telecast rights. 
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STARs airtime rates up 20% for prime time spots
Mumbai: In a season in which advertisers are looking to putting their money on World Cup Cricket, Star Plus has done a dare and hiked its prime airtime spot rates by 20 per cent pushing its two top Balaji soaps to a record-breaking Rs 15 lakh per 30 second spots.
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Metro Tyres to roll into 2-wheelers segment
New Delhi: After emerging as the largest maker and exporter of cycle tyres in the country Metro Tyres Ltd is now foraying into the two-wheeler tyres segment, starting with exports to Europe, North America and Japan. 
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Bajaj gearing up for `rural bike' launch
Mumbai: Two-wheeler manufacturer Bajaj Auto Ltd has developed a bike that will meet the utility and aspirational needs of the youth in semi-urban and rural India and be easy on their pockets too. 
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Godrej Ind buyback on schedule
Mumbai: Godrej Industries Ltd said its share buyback scheme will proceed as scheduled following the Supreme Court's decision not to grant any interim relief on an appeal filed by the Securities and Exchange Board of India (SEBI). 
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TCS can enjoy export tax benefit after demerger too
Mumbai: The tax benefit enjoyed by TCS, a division of Tata Sons, will not be withdrawn even after its demerger into a separate company, provided Tata Sons holds at least 51 per cent of the equity in the new corporate entity. 
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ONGC keen on HPCL, BPCL stake: Raha
New Delhi: Oil and Natural Gas Corporation (ONGC) is interested in bidding for Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), according to ONGC Chairman and Managing Director, Mr Subir Raha. 
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Tyco Electronics to set up assembly unit for switches
Bangalore: Tyco Electronics Corporation India Pvt Ltd's networking division is planning to set up a assembly unit for switches at its optical fibre facility in Bangalore. 
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Metro to invest Rs 20 cr to make 2-wheeler tyres
New Delhi: Metro Tyres Ltd (MTL) has announced that it will invest about Rs 20 crore at its new Ludhiana plant for setting up a manufacturing line for two-wheeler tyres catering to motorbike, scooter and mopeds. 
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BIFR withholds `sick' tag for Usha Ispat - Co asked to answer creditors' charge
New Delhi: The secured creditors also stated that the progress of the project was not abandoned because of recalling of the funds by the financial institutions in 2001. 
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Birla Jute Mills to reopen today
Kolkata: Birla Jute Mills of Birla Corporation Ltd is reopening today following an agreement reached at the office of the Additional Labour Commissioner, West Bengal, according to an official release by the company. 
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Sakthi Sugars unit in tie-up to supply vegoil to TN hotel body - Mulls crude palmolein import
Coimbatore: The soyas division of Sakthi Sugars Ltd has tied-up with the Tamil Nadu Hotel Association for supply of Sakthi Refined vegetable oil to the hospitality sector. 
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KSTDC, ITDC ink marketing pact
Bangalore: The Karnataka State Tourism Development Corporation (KSTDC) yesterday entered into a memorandum of understanding with the Ashok Reservation and Marketing Services (ARMS) and Ashok Travel and Tours (ATT), a subsidiary of the India Tourism Development Corporation for marketing the former's managed hotels and tourism packages.
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Tata Infotech ties up with Mumbai varsity
Mumbai: Tata Infotech has tied up with the University of Mumbai to offer a series of career-oriented courses in the field of information technology that will be focused on emerging market trends in the industry. 
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Pramati Tech in marketing pact with Epicentric
Hyderabad: Pramati Technologies (P) Ltd, a Hyderabad-based company which has developed Java 2 Enterprise Edition (J2EE) application technology, has entered into a strategic technology and marketing tie-up with Epicentric Inc, a leading provider of business portal solutions, to help the latter's customers use Pramati Server as a base platform.
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McAfee ties up with SecureSynergy
Bangalore: McAfee Security, a division of Network Associates, on Wednesday announced a strategic alliance with SecureSynergy, to offer managed anti-virus services, McAfee ASaP Managed Service, for its end-users across India. 
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Tata Steel embarks on Six Sigma
Mumbai: Tata Steel said it has initiated the Six Sigma Black Belt system, a methodology that focuses on moving every process, product and service towards near perfect quality. 
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Sub-panel to discuss Trayons revival
Kochi: The Cabinet Sub-Committee constituted recently by the State Government on revival of Travacore Rayons Ltd (Trayons), is expected to discuss meticulously all the demands made by the Coimbatore-based promoter, a senior official said.
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Congruent eyes 100 pc growth
Chennai: The city-based Congruent Solutions Pvt Ltd hopes to double its manpower to about 100 by the year ending March 31, 2003. The company also anticipates about 100 per cent growth in revenue from $1 million reported last fiscal year, the company's co-founder and CEO, Mr V. Chandrasekaran, told reporters here.
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TCS can enjoy export tax benefit after demerger too
Mumbai: The tax benefit enjoyed by TCS, a division of Tata Sons, will not be withdrawn even after its demerger into a separate company, provided Tata Sons holds at least 51 per cent of the equity in the new corporate entity. 
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National long distance interconnection - Bharti signs pact with BSNL
New Delhi: Bharti Telesonic Ltd, the long distance arm of the Bharti group, has finally signed an interconnect agreement with Bharat Sanchar Nigam Ltd (BSNL) enabling it to extend its services to over 40 million fixed line subscribers. 
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