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Godrej
Appliances plans foray into international markets
Mumbai: In a bid to expand its presence beyond
India, Godrej Appliances Ltd plans to make a foray into
countries in the Middle East, Africa and Europe by exporting
its products, mainly refrigerators.
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Visakhapatnam
Steel posts Rs 207-crore net
Vizag: Following an encouraging performance over
the last three years, public sector Visakhapatnam Steel
Plant of the Rashtriya Ispat Nigam Ltd has posted a net
profit of Rs 207 crore for the nine-month period ended
December 31, 2002.
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Lockheed
Martin in parleys to offer launch vehicle for ISRO satellites
New Delhi: The $24 billion US aerospace giant Lockheed
Martin is in talks with Indian Space Research Organisation
to launch ISRO satellites through LM’s launch vehicle
Proton.
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Boeing
for trade in option; set to buy back five old aircraft
New Delhi: The Boeing Company as part of its thrust
on bagging the Air India deal under consideration is willing
for a trade in option and has said that it will be willing
to buy back five old Boeing aircraft - three 747-200’s
and two 747-300’s - on the purchase of five new 777-200
ER aircraft.
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At
stake: A 1000 per cent pay hike
Mumbai: A comparison of remuneration in the balance
sheets of HPCL and Reliance Industries suggests that the
staff of HPCL could get salary increases of up to 1000
per cent if the company is privatised.
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Reliance
to pump $563m into 9 oil & gas blocks
Mumbai: Reliance Industries (RIL) will invest $563
million in oil & gas exploration in the nine blocks
it won in consortium with the UK-based Hardy Oil during
the third round of the New Exploration Licensing Policy
(Nelp).
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Cairn
seeks ONGC equity to develop Rajasthan block
New Delhi: Scottish explorer Cairn Energy has sought
equity participation from state-owned Oil and Natural
Gas Corporation (ONGC) to develop its latest find of about
20mt oil and gas reserves in Rajasthan.
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State
govt awards licences to set up five multiplexes
Mumbai: Five aspirants among the clutch of 230
applicants to set up multiplexs, have been awarded licences.
These include the Mumbai-based Runwal and Kanakiya groups,
the Jaipur-based Jains, Oberoi Developers and Manoj Desai
of Gaiety-Galaxy.
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After
Telco, it's Tata Steel's turn for a recast
Mumbai: The Tatas have announced a major financial
restructuring plan for Tata Steel, in line with the one
already implemented for Telco.
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ITC
to widen 'Kitchens of India' range
Kolkata: ITC's Food Division is adding another
3 products to its 'Kitchens of India' stable of foods.
To be introduced by the end of February, these products
are going to be a part of the gharana range, which basically
recreates age-old traditional food of various regions
in the country.
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Daimler
to shift gears, move into pre-owned cars
New Delhi: Daimlerchrysler India, which owns the
world’s most sought-after auto brand - Mercedes,
is set for a change of lanes - from new cars to pre-owned
ones. It also plans to do away with the traditional dealership
structure and get into partnerships to sell and service
cars.
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No
pink slips for Arvind's blue-collared staff
Mumbai: The manufacturers of the blue fabric, the
Arvind group, has decided to spare its blue-collared employees
the pink-slip blues. Instead, it has now decided to shift
as many as 140 workers based at its Indian facilities
to its blue-chip investment in Mauritius.
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TVS
Motor in expansion mode; plans heavy push on exports
Mumbai: Two-wheeler manufacturer TVS Motor Company
plans to invest about Rs 200 crore every year for three
years towards expansion of its plants, overseas explorations,
research & development and promotion.
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GM
to roll out Chevrolet brand in India this year
Bangalore: General Motors is all set to roll out
the Chevrolet brand in India and will badge its forthcoming
products this year under the brand.
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Siemens'
Indian unit to export mobile X-ray machines to China
New Delhi: The medical solutions division of Siemens
Ltd, a subsidiary of Siemens AG, will soon start exporting
mobile X-ray machines to China.
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Philips
Carbon shelves Kerala unit expansion - Steps down on exports
to service domestic market
Kolkata: Philips Carbon Black Ltd (PCBL) of the
RPG group seems to have shelved the expansion of its unit
in Kerala despite the upward trend in demand for carbon
black both in the domestic and foreign markets.
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Whirlpool
board to take up royalty payment issue
New Delhi: Whirlpool of India Ltd will take the
vital decision on the issue of royalty payment to its
parent company, Whirlpool Corporation. In 1998, it had
put off paying royalty to the parent company till 2003.
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Alstom
bags Jaiprakash Power deal
New Delhi: French-major equipment supplier Alstom
has bagged a Rs 250-crore contract from Jaiprakash Power
Ventures Ltd for supply of hydro-electric power plant
equipment for the latter's 400 MW Vishnuprayag project
located in Uttaranchal.
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HMT
enters golden jubilee year
Bangalore: HMT, the machine tool major, has entered
its golden jubilee year. The occasion was commemorated
by renaming the central road in its complex leading to
its factory to February 7 Marg.
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Matrix
completes pref allotment to promoters
Hyderabad: Matrix Laboratories Ltd (MLL), slated
to merge with itself the Ranbaxy-owned Vorin Laboratories
and the Chennai-based Shriram group owned Medicorp Technologies,
has completed the allotment of equity shares to the promoters
group on a preferential allotment basis, pending formal
approvals for the merger.
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Glenmark
divests stake in subsidiary
Mumbai: Glenmark Pharmaceuticals is divesting its
stake from its 100 per cent subsidiary Glenmark Laboratories,
for a consideration of Rs 35 crore in an all cash deal.
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Taj
GVK to buy ITDC's Punjab Hotels
Hyderabad: Taj GVK Hotels & Resorts Ltd, the
city-based hospitality joint venture between the Tatas
and GVK group, has emerged as the successful bidder for
acquiring a five-star hotel in Chandigarh belonging to
the India Tourism Development Corporation (ITDC).
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Indian
Rayon Japan's NGK float venture
Mumbai: Indian Rayon & Industries Ltd has launched
its insulator joint venture with Japan-based NGK Insulators
Ltd. The joint venture is named as Birla NGK Insulators
Private Ltd.
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