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Grasim
Q3 net up 48 per cent to Rs 133 cr, sales up 11 per cent
Mumbai: Driven by improved realisations in its
viscose staple fibre (VSF) business, Grasim Industries,
part of the Aditya Birla group, has reported a 48 per
cent rise in net profit for the third quarter ended December
31, ’02 to Rs 133 crore, up from Rs 89.9 crore in
the corresponding period in the previous year.
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Birlas
to table proposal to split L&T at board meet
Mumbai: The Aditya Birla group is likely to seek
postponement of any final decision relating to the demerger
of Larsen & Toubro’s cement business at the latter’s
board meeting on Wednesday.
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Shreya
Life to buy Indore co's pharma unit
New Delhi: Closely-held drugmaker Shreya Life Sciences
has agreed to acquire the domestic pharmaceutical business
of Indore-based Plethico Pharmaceuticals for Rs 85 crore.
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Tips
Industries acquires sister firm in share swap
Mumbai: Tips Industries, promoted by the Taurani
family, is acquiring its unlisted sister company Tips
Films by issuing fresh shares. This follows a change in
business plan by the Tauranis wherein Tips Industries,
a music acquisition company, will now become primarily
a film production and distribution agency after acquiring
the creative and other assets of Tips Films.
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Fresh
cut: VSNL may go in for VRS next fiscal
Mumbai: The VSNL board is said to have discussed
the issue of introducing a voluntary retirement scheme
(VRS) for its staffers at a meeting called to discuss
the quarterly results on Friday last.
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Touched
up: HLL plans to revamp skincare brand
Mumbai: HLL, the country’s largest personal
products maker, is revamping and relaunching its direct
selling skin care and cosmetics brand Aviance as it is
not satisfied with the brand’s performance.
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Bottoms
up: Centre rejects proposals of 3 liquor MNCs
New Delhi: Liquor MNCs, including South African
Breweries (SAB) and Allied Domecq, have run into problems
while getting official sanction for new investment proposals
in the country.
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Orchid
Chemicals net rises to Rs 3.72 crore
Chennai: The Chennai-based Orchid Chemicals and
Pharmaceuticals Ltd on Monday reported a net profit of
Rs 3.72 crore for the quarter ended December 31, 2002
as against Rs 2.25 crore clocked during the same period
previous year, registering a growth of 65 per cent.
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HSPP
to launch LPG-run portable gensets in 3 months
New Delhi: Honda Siel Power Products Ltd, a joint
venture between Honda Motors of Japan and Siel, has plans
to launch LPG-run portable gensets in about two to three
months, according to vice president and director, HSPP,
RS Bidesi.
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Castrol
India clocks 33.3 per cent growth in net
Mumbai: Castrol India Ltd has registered a 33.3
per cent increase in net profit of Rs 40.01 crore for
the fourth quarter ended December 31, 2002 as compared
to Rs 30.02 crore in the corresponding period previous
fiscal.
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Ranbaxy
gets ready to plunge into US
New Delhi: The success story scripted by domestic
pharma major, Ranbaxy Laboratories Ltd, in the US market
is poised for a significant development, as the company
prepares to launch its branded products there by March.
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Escorts
turns around on buoyant sales
New Delhi: Escorts Ltd has reported a net profit
of Rs 26.14 crore for the quarter ended December 31, 2002,
compared to a net loss of Rs 21.06 crore in the corresponding
quarter in 2001.
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JB
Chemicals net rises 13 per cent
Mumbai: JB Chemicals & Pharmaceuticals Ltd
has registered a 13 per cent increase in net profit at
Rs 11.43 crore in the quarter ended December 31, 2002
against Rs 10.04 crore in the corresponding period last
year.
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Rain
Calcining net up 71 per cent
Hyderabad: Rain Calcining Ltd (RCL), the Visakhapatnam-based
calcined petroleum coke and power producer, has achieved
a growth of 31.78 per cent turnover and 70.65 per cent
in net profit for the third quarter of current fiscal
ended December 31, 2002.
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Samtel
Color net dips
New Deldi: Samtel Color Ltd, part of the Rs 1,200-crore
Samtel group and manufacturers of colour picture tubes
(CPT) in India, has posted a 29 per cent rise in its gross
turnover to Rs 254.07 crore for the quarter ended December
31, 2002.
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Titan
turnover up 10.5 pc in Q3
Bangalore: Titan Industries Ltd has reported 10.5
per cent rise in its turnover during the third quarter
of the current financial year compared to the corresponding
period last year.
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Ingersoll
Q3 net up
Mumbai: Ingersoll-rand (India) Ltd posted an improved
net profit of Rs 15.84 crore in the third quarter ended
December 31, 2002. This was 18.30 per cent more than the
Rs 13.39 crore recorded in the corresponding previous
period.
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SABMiller
to buy Deccan Breweries for Rs 8.5 crore
New Delhi: SABMiller has struck a deal with the
Balaji group to buy its brewing entity, Deccan Breweries,
in Andhra Pradesh for Rs 8.5 crore.
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Bristlecone
India centre takes off
New delhi: Bristlecone, a US-based company which
provides supply chain management solutions, has announced
the launch of its Indian operations.
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Farm
biz recruitment co opens office in Mumbai
Mumbai: Agri-Associates, an international recruitment
and consultancy firm with focus on agriculture and food-related
businesses has set shop in India with an office in Mumbai
to offer specialised services for the domestic food industry.
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Chennai
Container Terminal traffic goes up by 17 pc
Chennai: Chennai Container Terminal Private Ltd
(CCTL) registered a 17 per cent growth in container traffic
during January-December 2002 over the same period in the
previous year.
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