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IOC
to raise $76 million for acquiring machinery
New Delhi: The Indian Oil Corporation Ltd is raising
$76 million through an external commercial borrowing to
procure machinery for the proposed integrated paraxylene
/ PTA project being set up in Panipat in Haryana.
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Resourcsat,
Cartosat to steer DoS data-diversity marketing
New Delhi: The $13-million Antrix Corporation,
the commercial wing of Department of Space, has decided
to weather the slump in its remote-sensing data products,
by moving up the value chain.
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Kerala
IT sector gears up for Bill Gates’ visit
Thiruvananthapuram: If investment is west-tilted,
quality-mania has a yen for the oriental. Just as Kerala
government’s IT top brass is set to meet Bill Gates
on Tuesday with a slew of projects showcasing its low-end
IT literacy spread advantage, the state’s high-end
IT player Network Systems & Technologies Private Ltd
is on a spell of eastward ho.
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Q2
net profit of 764 major companies up 49.5%
Mumbai: The second quarter net profit of 764 major
companies which announced their results so far increased
by 49.52 per cent to Rs 15,107 crore during July-September
2002 from Rs 10,104 crore during the corresponding period
of the year 2001.
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Sell-off
clause: Shell seeks waiver
New Delhi: After Coca-Cola, multinational energy
major Shell has now questioned the clause seeking divestment
of 26% equity in its Indian subsidiary.
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MTNL
to offer cable TV soon
Mumbai: MTNL will soon offer cable TV services
in Delhi and Mumbai. Five companies Dishnet, United Telecom,
Telexcel, Divinet and Microtech have submitted EoIs to
MTNL for providing broadband services on a franchisee
basis.
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Raffles
may pick 10% in Max Health
New Delhi: The Singapore-based hotels and healthcare
major, Raffles group, is in advanced stage of negotiations
with Max Healthcare, the Analjit Singh-promoted healthcare
company, for acquiring a 10% stake in the company.
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MTNL
doubles H1 card sales in Mumbai
Mumbai: In keeping with the consumer's increasing
preference for pre-paid cards, sales of virtual calling
cards, the pre-paid phone cards of Mahanagar Telephone
Nigam, have more than doubled during the first half of
this fiscal in Mumbai alone. It is estimated that sales
in Delhi may be marginally higher than in Mumbai.
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GE
Equity winding up, but to back existing ventures
New Delhi: GE Equity, the $3-bn private equity
investment arm of General Electric, has begun winding
up operations worldwide, as part of an overall group restructuring
exercise being undertaken by its parent. In India, GE
Equity currently has nine investments and employs a six-member
team working out of Gurgaon.
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Voltas
may hive off H'bad fridge unit, seeks ally
Mumbai: Voltas, the Tata group's diversified company,
may hive off its refrigerator unit in Hyderabad now manufacturing
products on contract for Korean chaebols, LG and Samsung
into a manufacturing JV with an overseas partner.
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Iffco
in talks with Reliance for gas supply tie-up
Mumbai: Reliance Industries' historic gas find
in the Krishna-Godavari basin has the country’s largest
fertiliser cooperative, Iffco, looking at possible alliances.
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Titan
may tap SE Asia for parts
Bangalore: Titan Industries may be looking at some
south east Asian countries as a sourcing base for watch
components. Sourcing components from these countries will
give competitive edge to Titan to take on competition
from cheap watches that are flooding in from south-east
Asian region.
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Ceejay
Health to unveil cure for smokers
Mumbai: Ceejay Healthcare, a JV between New York-based
Positive Healthcare and Mumbai-based Ceejay Group, will
launch a range of biopharmaceutical products in the area
of tobacco cessation, cholesterol and diabetes management
& weight control.
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HCL
arm close to bagging $20m call centre deal
Mumbai: Exult, a US-based BPO company focusing
on HR outsourcing, is close to awarding a $20m per year
contract to HCL Technologies’ subsidiary HCL Eserve
for outsourcing HR services.
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ITDC
plea on royalty rejected
New Delhi: The Airports Authority of India (AAI)
has rejected a request from India Tourism Development
Corporation (ITDC) for reduction in royalty to be paid
for duty-free outlets at major airports.
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Diageo
may offload IMFL biz for Rs 40 cr
New delhi: The global drinks giant, Diageo Plc,
is likely to offload its Indian-Made Foreign Liquor (IMFL)
interests, which it holds through UDV India Ltd, at close
to Rs 40 crore. Top Diageo officials are expected in the
country early next week for final decision.
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Keltron
bullish on free software resources
Kochi: Kerala State Electronics Development Corporation
(Keltron) has initiated steps to set up a resource centre
for the application of free software/open source solutions.
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