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Hyundai
to make Chennai facility a 'global hub'
Chennai: Hyundai Motor India is set to further
consolidate its position in the Indian passenger car market
with the company’s Irungattukottai plant near Chennai
emerging as a ‘global hub’ for exports.
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Dr
Reddy’s Pulls Out Paediatric Nimesulide
Mumbai: Dr Reddy’s Laboratories is believed
to have withdrawn its paediatric dosage of nimesulide
from the market. This follows a recent communication from
the Drug Controller General of India to various industry,
consumer and professional bodies to be part of the review
committee for nimesulide.
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Coke
India targets Southern States
New Delhi: Coca Cola India has allocated $46 million
for investment during the current year in the four southern
States of Andhra Pradesh, Karnataka, Tamil Nadu and Kerala.
Fresh investments were being pumped into the four States
to facilitate further development in infrastructure, capacity
expansion of the existing plants, expansion of the distribution
network and implementation of packaging innovations.
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Ford
hikes Mondeo price by Rs 55,000
The world’s second largest car maker, Ford, today
greeted the new year in India with a price hike of Rs
55,000 for its premium car Mondeo. Since its launch in
December ’01, this is the first price correction
done by Ford India for its D segment car. Over the next
ten days, Ford also has plans to launch a more trendy
variant of its josh machine, Ikon, with a new price tag.
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Tatas
Identify IT, Telecom As Growth Drivers For 2003
Mumbai: The Tata group has identified information
technology ( and telecom as the key growth drivers for
the year. It has also stated that its companies in the
hospitality, steel and automobiles sectors, namely Indian
Hotels Company Ltd, Tata Steel and Tata Engineering, would
also see a lot of activity during the year, with investments
and acquisitions continuing.
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Aban
bags order for GRP pipes
Chennai: Aban Constructions Pvt Ltd, part of the
Chennai-based Aban group, has bagged a contract to supply
and install 42 km of GRP (glass reinforced fibre) pipes
for effluent discharge in Gujarat.
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Sterling
Biotech bags Rs 5.5-cr order from US co
Mumbai: Sterling Biotech, one of the leading gelatin
makers in the country, has received a Rs 5.5-crore order
for supply of gelatin to Cardinal Health Inc, US. The
latter is the largest producer of healthcare products
and services in the world, with annual sales of $40 billion.
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Reliance
to enter coffee market
Mumbai: The Reliance group is set to make a foray
into coffee retailing business by launching a coffee brand
called Java Green, which will be sold in its over 700
web stores across the country. Reliance Infocomm, which
will market the brand through the coffee bars inside its
web stores, has also finalised plans to set up independent
Java Green coffee outlets shortly. Reliance Infocomm,
which is planning to launch its nationwide chain of web
stores on January 26, is exploring the option of setting
up standalone Java Green outlets in Mumbai and Chennai
shortly.
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Hudco
to pay Rs 23-cr dividend
NewDelhi: Housing and Urban Development Corporation
(Hudco) will pay a dividend of Rs 22.81 crore for the
financial year 2001-02 as against Rs 20.87 crore paid
during 2000-01. The company's annual general meeting on
Wednesday approved the dividend payout.
During 2001-02, the company recorded.
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Silverline
incurs Rs 7-cr net loss in July-Sept '02
Mumbai-based software services company Silverline Technologies
has finally announced results for the July-September quarter,
’02. The full results for the October-December quarter
are still not available.
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BPL,
AirTel to share TN infrastructure
Chennai: BPL Mobile and AirTel are coming together
to share infrastructure in the Tamil Nadu A circle (excluding
Chennai) for the first time. The move follows a successful
trial run of three sites for over three months.
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Bajaj
Auto to unveil new models in fourth quarter
Mumbai: Bajaj Auto Ltd (BAL) is planning to launch
two new motorcycles during the last quarter of the current
fiscal. The company is planning an all-new “executive
motorcycle” which is in final stages of testing.
BAL is planning initial volumes at around 30,000 units
per month for the model.
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Waterbase
to wipe losses with share premium amount
Hyderabad: Waterbase Ltd, the Thapar group aquaculture
company based at Nellore, has decided to cleanse its balance
sheet by adjusting its accumulated losses with the share
premium amount.
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TVS
Motor sales rise 39 Per cent in Dec
Chennai: TVS Motor Company Ltd’s (TVSMC) motorcycle
sales revved up 39 per cent to touch 59,619 units for
the month of December 2002, as against 43,220 units during
the corresponding month last year. Sales of TVS-Victor,
the 4-stroke 110 cc which hit the roads about a year ago,
crossed the 300,000-mark. The overall two wheeler sales
during the month grew by 21 per cent to 88,682 units (73,259
units), according to a company press release.
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HPL
signs R&D, IT pacts with GAIL
Kolkata: Haldia Petrochemicals Ltd (HPL) signed
commercial agreements with Gas Authority of India Ltd
(GAIL) late on Tuesday night in New Delhi after protracted
negotiations.
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