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Hyderabad
Ind to buy out KSIDC in Malabar Building
New Delhi: In a major consolidation move, Hyderabad
Industries Ltd, a CK Birla Group company, is planning
to buy out the entire stake of Kerala State Industrial
Development Corporation in their joint venture Malabar
Building Products Ltd.
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Gujarat
Court bars Ambalal Sarabhai from sale of assets
Ahmedabad: The Gujarat High Court at Ahmedabad
has directed Ambalal Sarabhai Enterprises Ltd not to dispose
of its capital assets without its prior permission.
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Allianz
Bajaj pumps in Rs 50 crore fresh capital
Mumbai: Allianz Bajaj Life Insurance Company Ltd,
a joint venture between Allianz AG of Germany and Bajaj
Auto, announced an infusion of fresh capital of Rs 50
crore to take the company’s total capital to Rs 200
crore.
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Dalmias
to now enter packaged consumer goods
Mumbai: The Rs 1,200-crore Dalmia Group, with interests
in chemicals, telecom and IT-enabled services, is diversifying
into packaged consumer goods market.
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Goenkas
to sell Cetex for Rs 25cr
Kolkata: The RP Goenka group has finalised a deal
to sell its chemicals business to a Chennai-based company
for Rs 20-25 crore, according to sources familiar with
the issue.
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Slowdown
forces Cemex to defer India investment
New Delhi: Hit by a slowdown in its key markets
of USA, Mexico and Venezuala, the $7-billion Mexican cement
giant Cemex is learnt to have deferred its investment
plans in India for the moment.
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SBI,
Maruti may forge car finance pact
New Delhi: State Bank of India and Maruti Ugyog
are understood to have agreed on a strategic alliance
for car financing. A formal announcement will follow the
signing of an MoU between the companies.
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Bajaj
Auto to start exports of Kawasaki bikes in April
Mumbai: The first Kawasaki motorcycle for the export
market will roll off the assembly lines of Bajaj Auto
in April.
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Suzuki
finalises two-wheeler plans for India
New Delhi: Japanese auto major Suzuki Motors has
finalised its two-wheeler plans for the domestic market.
According to sources in the auto industry, components
have been approved by the company's headquarters in Japan
for possibly a 115-cc and a 125-cc mobike as well as a
scooter with similar engine specs.
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Henkel
to relaunch Margo variants
Mumbai: Henkel Spic India swears by its prized
brand Margo. Despite the limited success from test-marketing
several line extensions under the Margo brand name, the
company is optimistic and plans a national relaunch of
Margo cream and Margo lotion by the year-end.
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Estee
Lauder puts off plan for subsidiary
New Delhi: The $3-bn US cosmetic products giant,
Estee Lauder's plans for setting up a wholly owned subsidiary
in India is yet to take shape. It is understood that the
firm has deferred its plans and is now looking at entering
the country by the end of next year.
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Award
for Bangalore company
Bangalore: Emmvee Solar Systems, a Bangalore-based
company, has been honoured with the SESI Young Entrepreneurship
Award for 2002, for its contribution in the field of alternative
source of energy.
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Madhucon
net, turnover up
Hyderabad: Madhucon Projects Ltd posted a turnover
of Rs 60.02 crore, other income of Rs 1.93 crore and a
net profit of Rs 4.02 crore during the third quarter of
current the fiscal. The company's turnover has increased
by 7.7 per cent and net profit rose by 129 per cent when
compared to the turnover of Rs 55.69 crore and profit
of Rs 1.75 crore registered during the corresponding period
in the previous year.
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Best
builder rating
Bangalore: Purvankara Projects Ltd, a Bangalore-based
realtor, has been awarded the best builder rating (DA2+)
by Crisil, making it the first developer company to get
such a rating in India.
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FIPB
spikes K.K. Birla group plan to transfer Chambal ownership
New Delhi: The K.K. Birla group plan to transfer
ownership of Chambal Agritech Ltd from India to Singapore
has been rejected by the Foreign Investment Promotion
Board.
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