L&T hires Accenture to devise cost cuts
Mumbai: Irrespective of the fate of its joint initiative with Grasim Industries, Larsen & Toubro is independently pursuing an aggressive strategy of cost reduction in its cement business.
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SCI set to delink, transfer maritime training institute
Mumbai: Shipping Corporation of India will delink its maritime training institute located at Powai in Mumbai from itself, as per the decision of the inter-ministerial group.
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Jet Air forms executive panel to look after
day-to-day management
New Delhi: Jet Airways has set up an executive committee to look after the day-to-day management of the airline.
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Glaxo spins brand promos for Boost with Cricketers
Mumbai: GlaxoSmithkline Consumer Healthcare Ltd, the number one player in the Rs 1,350 crore health food drink industry, is expecting the energetic combination of its brand ambassadors Sachin Tendulkar and Virender Sehwag to boost the market share of its brand ‘Boost’.
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Infosys plans $100-mn ADR float on Nasdaq
Chennai: In a move that promises to give a big boost to Indian tech companies, and set a precedent for other IT majors to follow, Infosys is proposing a sponsored ADR programme that could be as large as $100 million.
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Shree Rama in talks to sell controlling stake to Hind Seals
Kolkata: Troubled packaging company, Shree Rama Multi Tech, is in the final stages of negotiation with Kolkata-based Manaksia group flagship company Hindustan Seals for selling off a controlling stake.
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SAB to buy out partners in Indian beer venture
Mumbai: In order to become a wholly-owned subsidiary in India, beer major South African Breweries (SAB) is buying out its existing partners in the Indian beer venture.
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Datamatics plans to sell hardware unit
Mumbai: Information technology group Datamatics is planning to sell Datamatics Information Technology (DITL), a hardware and networking business company.
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NTPC to chart out 5-year development plan
New Delhi: The government has asked National Thermal Power Corporation to prepare a five-year road map of its corporate plans and business development strategy in view of its plans to mobilise resources from the capital market.
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Sun 'n' Sand's on the prowl
Mumbai: The Mumbai-based Sun 'n' Sand hospitality group is looking at growth through acquisition of properties on the block, in the wake of the current downturn in the hospitality industry.
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Kawasaki to source small bikes from Bajaj Auto
Mumbai: Bajaj Auto Ltd (BAL) is likely to serve as a sourcing hub for "smaller'' bikes for its Japanese collaborator, Kawasaki Heavy Industries Ltd.
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Reliance to hike PSF capacity
Mumbai: Reliance Industries Ltd said on Tuesday that it is increasing its polyester staple fibre capacity by 40,000 tonnes. The company is building a new polyester staple fibre plant at Hazira.
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KNNL to raise Rs 125 crore through bonds
Bangalore: Karnataka Neeravari Nigam Ltd (KNNL) is in the process of raising Rs 125 crore through sale of bonds in the market. The bonds would be placed privately to banks and financial institutions.
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Consultant named for Air India, IA revamp
New Delhi: As part of a major revamp exercise, Air India and Indian Airlines have jointly appointed a consultant to formalise a long-term business plan for the two airlines.
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Gillette to sell Geep battery business
New Delhi: Gillette India Ltd has got approval from its shareholders to divest from its non-alkaline business. The company had sought the requisite consent of shareholders by postal ballot under Section 192A of the Companies Act for sale of its Geep battery business.
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Lafarge still eyeing L&T's cement biz
Kolkata: The Indian outfit of the French cement major, Lafarge, is quite keen to acquire the cement business of L&T once the management finalises the modus operandi of demerging it into a separate company.
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Aztec mandates ING to scout for buy-outs
Bangalore: Internet infrastructure software maker Aztec Software and Technology Services Ltd has mandated ING to scout for possible acquisitions. The company is currently in talks with a couple of such firms, according to its Chief Financial Officer, A.G. Muralikrishnan.
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NPIL proposes merger with Global Bulk Drugs
Mumbai: The board of directors of the pharma company, Nicholas Piramal India Ltd, will consider a proposal to merge Global Bulk Drugs & Fine Chemicals Pvt Ltd with itself in its meeting on November 29.
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Cabinet approves Bill on company tribunals
New Delhi: The setting up of the proposed National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) is in its final leg with the Union Cabinet giving its nod on Tuesday to the Companies (Amendment) Bill, 2001, which proposes to put in place the two bodies.
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Himalaya looks to double turnover in 2 years
Bangalore: The herbal healthcare company is expected to end the financial year 2002-03 with a sales figure of Rs 325 crore as compared with Rs 250 crore last fiscal.
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M&M bets on Bolero Sportz
Mumbai: Mahindra & Mahindra Ltd (M&M) expects its new utility vehicle Bolero Sportz to drive up sales and help it gain a market share of 25 per cent in nine-12 months from the current level of 18 per cent.
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