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Ceat
returns to black with Rs 6 crore net profit in Q2
Kolakta: RPG Group flagship Ceat Ltd has returned
to black with a net profit of Rs 6.34 crore for the second
quarter ended September 2002 as against a loss of Rs 4.53
crore in the same period of the previous year.
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HLL
to recast Nepal srubsidiary, plans VRS
Mumbai: Hindustan Lever Ltd on Thursday said the
operations of its Nepal subsidiary had come under pressure
and it was undertaking a restructuring exercise including
a VRS package to make the unit viable.
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DPC
inspection team finds plant in good condition
Mumbai: Dabhol Power Project, which has closed
down power generation after MSEB suspended power purchase
since May 29, 2001, is in good health and properly maintained,
according to the inspection team’s prima facie observations.
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Parry
posts loss in Sept quarter
Mumbai: Parry Cofectionery Ltd has recorded a loss
of Rs 0.56 crore for the quarter ended September 30, 2002,
as against a profit of Rs 1.92 crore in corresponding
quarter of the previous year.
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Banks
to treat DPC phases as 1 project
Mumbai: Indian banks and term lending institutions
have decided to treat phase I and phase II of Dabhol as
a "single project" to prevent Dabhol Power Company
from becoming a non-performing asset.
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Indo-American
wins $10-mn case
New York: A US court has approved a $10 million
settlement in a lawsuit by an Indian American against
McDonald's Corporation for misleading customers who don't
eat meat by using beef extracts in its fries.
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Suprajit
buys Shah Concabs for Rs 5 cr
Mumbai: The city-based Suprajit Engineering, the
makers of automotive cables and instruments has bought
out Shah Concabs, a cable making company based in Vapi,
for Rs 5 crore.
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Torrent
licenses R&D product to Novartis
New Delhi: Torrent Pharmaceuticals said on Thursday
Novartis had `in-licensed’ a novel research compound
from its research stable, which has the potential to treat
heart disease and diabetes-related blood vessel complications.
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ACC's
Q2 net plummets 70%, sales rise 5%
Mumbai: ACC, the country’s second-largest
cement maker, posted a hefty 70% fall in second quarter
net profit at Rs 5.1 crore as cement prices dipped in
crucial southern and western markets.
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GSK
may sell Ankleshwar unit to Glenmark
Mumbai: Pharma market leader GlaxoSmithKline Pharmaceuticals
(GSK) is in advanced talks with medium-sized drugmaker
Glenmark Pharmaceuticals for the sale of its bulk drugs
manufacturing unit in Ankleshwar, Gujarat. Sources put
the offer price at around Rs 15 crore.
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Nestle
net falls 16% to Rs 44 cr in Q2
Mumbai: Nestle India on Thursday reported Rs 523.5
crore net sales for the quarter ending September 2002
while net profit declined 16.3 per cent to Rs 44.08 crore.
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Apollo
Tyres Q2 net zooms 800% to Rs 27 cr
New Delhi: Propelled by a near-50% reduction in
interest cost and an over 23% increase in net sales, Apollo
Tyres (ATL) reported around 800% growth net profit during
the quarter ended September 30, '02.
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Arvind
in the black with Rs 29-cr net in Q2
Mumbai: Denim major Arvind Mills has posted a net
profit of Rs 29.1 crore for the second quarter ended September
‘02, against a net loss of Rs 44.6 crore in the corresponding
period last year.
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Zee
TV clicks with blockbuster flicks
Mumbai: ZEE TV’s strategy to buy and air big
movie blockbusters seems to have paid off with the movie
‘Humraaz’ featuring high up at No 13 on the
Top 20 list of television programmes.
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Suprajit
to spend Rs 2-4 cr on Shah Concabs upgrade
Bangalore: Suprajit Engineering Ltd (SEL), a Bangalore-based
automotive cable company, plans to invest about Rs 2 to
Rs 4 crore on upgrading Shah Concabs Pvt Ltd, a recently
acquired company engaged in heavy duty automotive cables.
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UK
Govt offers R&D facility to Indian cos
New Delhi: The UK Government has urged Indian infotech
companies to explore research and development (R&D)
activities in the UK. It has offered help to set up such
facilities.
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100%
success rate in Godavari gas wells
Mumbai: Relaince Industries Ltd (RIL)yesterday
officially announced that it has discovered in excess
of seven trillion cubic feet of natural gas in the deep-water
block D6 in the Krishna Godavari basin off Andhra Pradesh
coast.
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BBUNL
bags African order
New Delhi: Bharat Bhari Udyog Nigam Ltd (BBUNL)
has bagged a $5.5-million order from Societe DEMBA et
Fils of Bamako, Mali, for supply of 350 four-wheeler units
of container flat and tank wagons.
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BEL
hands over invar filters to ISRO
Mumbai: Bharat Electronics Ltd (BEL) has handed
over the first batch of indigenously produced invar filters
to Indian Space Research Organisation.
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Reckitt
Benckiser to make final offer
Reckitt Benckiser plc along with its subsidiary Lancaster
Square Holdings SL is making a final cash offer to purchase
the outstanding public shareholding of Reckitt Benckiser
(India) Ltd comprising 25,44,522 shares, representing
7.73 per cent of the equity share capital.
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Nicholas
Piramal raises Rs 100 cr thru NCDs
Mumbai: Nicholas Piramal India Ltd (NPIL) has raised
Rs 100 crore by issue of secured non-convertible debentures
split into two and three year tranches.
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Jumbo
moves FIPB again to buy out Shaw Wallace
Kolkata: Jumbo World Holdings Ltd has moved the
Foreign Investment Promotion Board (FIPB) for the second
time seeking permission to acquire the entire 60.93 per
cent equity in Shaw Wallace & Company (SWC) currently
held by Indian shareholders.
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SSI
in talk-mode for acquisition
Chennai: SSI Ltd is looking at yet another acquisition.
The company is talking to about seven companies, mostly
overseas, and the size of the acquisition could range
between $6 million and $60 million. "There is no
time-frame for the acquisition.
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ONGC
Videsh to acquire 25 pc stake in Sudan field
New Delhi: ONGC Videsh Ltd (OVL) has agreed to
acquire 25 per cent stake in Greater Nile Oil Project,
a producing oil field in Sudan, from Talisman Energy Inc
of Canada, at a cost of Rs 3,600 crore ($720 million).
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Goodlass
Nerolac board approves merger scheme
Mumbai: Goodlass Nerolac Paints Ltd has informed
the Bombay Stock Exchange that the Company's board of
directors, at its meeting held on October 29, had approved
the scheme of amalgamation of GNP (Madras) Ltd, Perungudi,
Tamil Nadu and Saurashtra Paints Ltd, Vatva, Ahmedabad,
the company's wholly owned subsidiaries, with the company.
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Godrej
Agrovet shrimp feed unit in Chennai
Chennai: Godrej Agrovet Ltd has set up a shrimp
feed manufacturing facility at Chennai in technical collaboration
with Tai Aqua of Taiwan, according to a press release
from the company.
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TCS,
Access2future join hands
Hyderabad: Tata Consultancy Services (TCS) has
tied up with Access2future (A2f) to market its personal
finance management software, E.X. Personal Investment
Manager, in Andhra Pradesh. A2f is an IT retail company
based in Hyderabad.
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Emirates
Airline plans fresh investments of $15 billion
Dubai: Emirates Airline, the international airline
of the United Arab Emirates (UAE), is currently chalking
out new growth strategies to cash in on the major initiatives
of Dubai, the second largest of the seven emirates.
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Moser
Baer net profit drops; cuts forecast
New Delhi: Net profit of the company for the quarter
ended September 2002, stood at Rs 53.14 crore as compared
to Rs 54.13 crore in the corresponding quarter last year.
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