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Ranbaxy
Q4 net up 323 per cent
Mumbai: Ranbaxy Laboratories has posted a whopping
323 per cent growth in profit after tax to Rs 212.70 crore
for the fourth quarter ended December 2002 from Rs 50.30
crore in the corresponding quarter of 2001.
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Indo
Rama profit zooms 160 per cent to Rs 39 crore in Q3
New
Delhi: Indo Rama has recorded 160 per cent growth
in net profit at Rs 38.93 crore for the third quarter
ended December 31, 2002 compared to Rs 14.97 crore in
the corresponding period last year.
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GE
Shipping posts 32 per cent lower third quarter net at
Rs 48 crore
Mumbai: Great Eastern Shipping Co Ltd has reported
a decline of 32.3 per cent in net profit at Rs 47.74 crore
for the third quarter ended December 31, 2002, compared
to Rs 70.51 crore in the same period of the previous fiscal.
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Iffco
Board okays confidentiality pact, MoU on KG gas supply
New Delhi: The board of leading fertiliser co-operative
Iffco on Thursday approved the signing of a memorandum
of understanding and confidentiality agreement on supply
of gas from Reliance’s Krishna-Godavari basin, and
its foray into domestic gas retailing business in various
cities across the country.
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JBCPL
files maiden ANDA with USFDA
Mumbai: JB Chemicals & Pharmaceuticals Ltd
has announced the filing of its first Abbreviated New
Drug Application with the US Food and Drug Administration,
the company has informed in a notice to The Stock Exchange,
Mumbai.
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Govt
may allow 2-way flow of unsold shares
New
Delhi: The draft norms for simultaneous equity issues
in local and international markets provide a flowback
of shares from one market to another in case of under-subscription.
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Cell
operators to move TDSAT
New Delhi: Private cellular operators have decided
to move the Telecom Dispute Settlement Appellate Tribunal
against the Telecom Regulatory Authority of India for
issuing show-cause notices to them.
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SSI
to pick up Nishar's 30 per cent stake in Aptech
Chennai: SSI is just inches away from buying-out
Aptech, one of the biggest players in the Indian IT education
sector, through a major deal for which the definitive
share purchase agreement is to be inked next week.
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Sify
reports $6.7 mn loss in Q3
Chennai: Sify has reported a net loss of $6.7m
for the third quarter ended December 31, '02, as against
the net loss of $7.8m in the corresponding period last
year. This despite a 24 per cent growth in total revenue
at $10.8m ($8.7m).
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Sify
plans to convert ADRs into local shares
Chennai: Sify plans to convert its ADRs into local
equity shares. The company has made a filing with the
US Securities Exchange Commission seeking permission for
such a conversion.
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Soft
drink companies to grow 14 per cent in '03 on 15 per cent
price-cuts
Mumbai: The soft drink industry is expected to
post a 14 per cent growth in value terms in '03, partly
because of increased consumption due to price cuts by
soft drink companies at an average of 15 per cent across
all brands.
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Boston
to advise Zurich on sale of 75 per cent AMC stake
New Delhi: Zurich Financial Services has appointed
Boston Consultancy Group (BCG), a management consultancy,
to advise it on the sale of its 75 per cent stake in Zurich
Asset Management Company (India), which runs its mutual
fund business in India, according to sources familiar
with the matter.
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Civil
court attaches BPL promoters' properties
Bangalore: The properties of the BPL group promoters
- TPG Nambiar and his son Ajit Nambiar - have been attached
through a conditional interim order passed by the city
civil judge, Bangalore.
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Bates
to bring marketing brand '141' to India
Kolkata: Bates India is bringing its global brand
'141' the marketing services company from parent Cordiant
Communications Group into India. The brand will be developed
out of Kolkata.
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DCM
plans new unit for polymer products
Mumbai: DCM Shriram Consolidated (DSCL), is setting
up a new division, DSCL Building Products. The division
will introduce the concept of new generation polymer-based
window systems to India.
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Pepsi,
HLL join hands for distribution
New Delhi: Pepsico India has forged a distribution
alliance with FMCG market leader Hindustan Lever, and
has firmed up plans to enter the bulk water segment in
the current year. The cola major is also closely looking
at the launch of its global sports drink, Gatorade, in
India.
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L&T
appoints consultant to evaluate
CDC term sheet
Mumbai: Larsen & Toubro has appointed an independent
consultant to evaluate equity investor CDC's proposal
for 6.8 per cent stake in its cement division which is
planned to be demerged.
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Nagarjuna
Power may move court on financial closure row
Bangalore: The Nagarjuna Power Corporation Ltd
(NPCL) has threatened to seek legal intervention once
more to ensure the financial closure of the 1,000 MW power
project proposed to be set up near Mangalore.
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Parryware:
From bathroom products to solutions
New Delhi: Parryware, the Rs 140-crore sanitaryware
division of EID Parry (India) Ltd, has shifted its focus
from selling mere products, to offering complete bathroom
solutions.
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GM
unveils 2003 Corsa, Swing
Bangalore: General Motors India yesterday launched
the upgraded Corsa, its C segment car, and the station
wagon, Swing. The company hopes to sell 8,000 units of
the Corsa in 2003 against the 7,000 it sold in 2002, company
officials told a press conference held here.
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