LNJ Bhilwara mulls HEG textile unit merger with Rajasthan Spinning
New Delhi: In a restructuring exercise to bring sharper focus on its textile business, the Rs 1,682-crore LNJ Bhilwara Group is mulling to demerge the textile division of the Rs 563-crore HEG Ltd and merge it with the Rs 479-crore Rajasthan Spinning and Weaving Mills Ltd.
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FACT shuts down 2 Cochin units over fuel shortage
Kochi: Fertilisers and Chemicals Travancore has been forced to shut down two plants at its Cochin division owing to fuel shortage.
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Lapointe Int’l in talks for raising stake in Dagger Forst Tools
Mumbai: US-based Lapointe International Corporation has initiated talks with the Yash Birla group company Dagger Forst Tools Ltd for increasing its stake to around 26 per cent.
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Loratadine to fetch Rs 100 crore for Morepen from US
New Delhi: Morepen Laboratories is set to make about Rs 100 crore from the 180-day marketing exclusivity recently granted to Geneva Pharmaceuticals Limited for Loratadine in the United States.
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SEC for review of Infy ADR document
Hyderabad: Infosys Technologies' proposed $400-million sponsored ADR programme to convert 2-3m equity shares into ADRs has hit an unexpected roadblock. This could delay the issue to beyond the current fiscal.
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Telco, ALL submit bids for Daewoo India assets
Mumbai: Truck makers Tata Engineering (Telco) and Ashok Leyland on Tuesday submitted bids for acquiring the piecemeal assets of the ailing Daewoo Motors India. But two-wheeler major Hero Honda, which has not submitted its bid, is learnt to have sought an extension in the deadline for the bids, which expired on Tuesday.
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Novo Nordisk may not roll back human insulin prices
New Delhi: Amid speculation about the possibility of revoking the customs duty exemption for insulin imports - which may in turn lead to reversion in prices of human insulin products - global pharma major Novo Nordisk has said that it does not foresee a rollback in human insulin prices, because the imposition of duties would be against the larger interest of Indian diabetes patients.
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Discovery may drop regional language plan
New Delhi: Discovery Channel is likely to drop its plan to air programmes in regional languages as it finds English and Hindi more than adequate.
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Sun's Telugu FM on air, 2 Tamil stations from Mar
Chennai: Having successfully established itself as the market leader in satellite television business in all the four southern languages, Sun Network has now turned its focus on radio.
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A-I hikes agents' commission on US bookings
New Delhi: To push sales on its weekday flights to the US, Air-India (A-I) has decided to give an additional 7 per cent commission to travel agents.
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GMIL may source sheet metal from MUL
New Delhi: As part of its strategy to increase local content in some of its future products, General Motors India is talking to Maruti for sourcing sheet metal components from its press shop.
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Hitachi Life to hike stake in Amtrex
New Delhi: Hitachi Home & Life Systems is planning to raise equity holding in Amtrex Hitachi Appliances up to 74 per cent. Confirming the plans, Kunio Sebata, president & CEO of the appliance and electronics company, who is in India currently, also laid down growth plans for Hitachi in India.
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Indigo helps Telco ride on a 29 per cent sales jump in Jan
Mumbai: Tata Engineering and Locomotive Company has reported total sales of 23,316 vehicles in the domestic market for January 2003, an increase of 28.73 per cent over 18,112 units sold in same month of last year.
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Natco Pharma bags award for life-saving drug
Hyderabad: Natco Pharma Ltd, the city-based pharmaceutical manufacturer that launched the life saving drug in the cancer segment recently, has bagged the first prize for the drug in the best invention category.
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HM moves HC over sales tax claim
Chennai: Hindustan Motors Ltd, which is facing a sales tax claim of about Rs 80 crore from the Tamil Nadu Government, has gone on appeal to the Madras High Court seeking a stay of the Commercial Taxes Department notice to it. The company's petition in the Tamil Nadu Sales Tax Special Tribunal was dismissed, following which it has preferred an appeal in the High Court, according to reliable sources.
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McDowell ties up with Independent Liquor - Plans big push in ready-to-drink segment
Bangalore: McDowell & Co Ltd, the flagship spirits company of the UB group, has entered into a strategic tie-up with Independent Liquor of New Zealand to pursue an aggressive growth strategy in the ready-to-drink segment of the domestic alcoholic beverage market.
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BHEL tie-up with Anna varsity
Mumbai: BHEL Tiruchi and Anna University, Chennai, have signed a MoU for co-operation in research, technology development and training.
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Tube India exhibition in Hyderabad
Hyderabad: An international exhibition of tube and pipe materials, as well as machinery and technology is scheduled to be held in Hyderabad during February 21-23.
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GM to shift focus to Chevrolet
Bangalore: General Motors (GM) India is planning to develop Chevrolet as its mainstream brand in the country. The company expects the bulk of its revenues to come from the brand in a few year's time.
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Durgapur Steel sights profit after 2 decades
Kolkata: After a gap of nearly two decades, Durgapur Steel Plant (DSP), the sick child of Steel Authority of India Ltd, has sighted net profit. With only six weeks to go for the closure of the fiscal 2003, the mood at the steel town is celebratory.
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