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UB
in contract manufacturing alliance with Balaji Breweries
Mumbai: The United Breweries Ltd has finally managed
to engage Balaji Breweries for exclusive contract manufacturing.
UB has advanced around Rs 30 crore for the half-a-million
hecto litre brewery in Tamil Nadu, which is expected to
be commissioned by March 2003.
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EoIs
invited for Central Inland Water Transport Selloff
New Delhi: The ministry of disinvestment has kicked
off the process of strategic sale of central government's
100 per cent stake in the Central Inland Water Transport
Corporation Ltd.
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Stewarts
& Lloyds to acquire Tata Korf Engg supply furnace
division
New Delhi: Stewarts & Lloyds of India Ltd has
executed an agreement with Tata Korf Engineering Services
Ltd to acquire the furnace division of supply activities
of Tata Korf as on February 18, 2003.
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Sebi
may move SC against SAT order on Colour Chem
Mumbai: The Sebi is planning to move the Supreme Court
against the Securities Appellate Tribunal order, which
allowed overseas acquirer of Colour-Chem Ltd -- Clariant
International-- to accept shares of only those shareholders
who held them at the time of completion of open offer.
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Ind-Swift
gets nod for anti-infective
New Delhi: Ind-Swift has received the Drug Controller
General of India's approval for manufacturing and marketing
of the anti-infective drug Clarithromycin.
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3M
to acquire rest 49 per cent in Pouyet
New Delhi: Minnesota Mining and Manufacturing, better
known as 3M Company, of the US plans to purchase 49 per
cent shares of Pouyet Communication India Pvt Ltd (PCIL).
The move would make PCIL a wholly-owned subsidiary of
3M Company.
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Zee
Tele may not get $40 mn from CSFB
Mumbai: Zee Telefilms' bid to raise $40 million loan
from Credit Suisse First Boston has gone sour. According
to sources, CSFB has refused to offer the loan to Zee
Tele, if the government doesn't give an advance nod to
transfer five crore shares of Zee Tele to CSFB after three
years.
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Coca-Cola
places 49 per cent stake with Indians
New Delhi: Hindustan Coca-Cola Holdings Private, the
Indian arm of Coca-Cola Company, completed the placement
of 49% of its equity in its bottling subsidiary, Hindustan
Coca-Cola Beverages Private Limited, in favour of Indian
shareholders. The divestment was made on a private placement
basis.
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FDI
has to cross security barriers
New Delhi: The GoM on FDI on Thursday voted to retain
the right to screen foreign investments in telecom and
civil aviation sectors. As per the decision, foreign investors
in the telecom sector will be required to get security
clearance from the telecom minister who will be free to
engage the services of agencies.
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Tata
Engg debt issues upgraded
New Delhi: Rating agencies Crisil and ICRA have upgraded
some of the ratings of automobile major Tata Engineering.
ICRA said it has upgraded Tata Engineering's debentures
programmes from `LAA-' to `LAA,' indicating high safety.
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Kinetic's
Aquila logs 50 bookings
Mumbai: The costliest two-wheeler in the country,
the Rs 1.45-lakh Aquila, has already found buyers with
bookings crossing the half-way mark within weeks of its
launch.
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Kopran
gets nod for ibuprofen tablets in S. Africa
New Delhi: Kopran has registered its ibuprofen product,`Bren-40',
in South Africa. The company has received an approval
from the Medicines Control Council (MCC) of South Africa
for the drug, according to a press release.
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DSCL
stake in Shriram Bioseeds increases to 51 per cent
Mumbai: DCM Shriram Consolidated Ltd (DSCL) has increased
its stake in Shriram Bioseeds Genetics India Ltd (SBGI)
to 51 per cent from 49 per cent through additional investments.
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GDR
Media board okays swap deal
Hyderabad: With GDR Multimedia Ltd offering its shares
on a preferential allotment basis to the shareholders
of Almond Softfin Pvt. Ltd as a part of all stock swap
deal, the company has ceased to be a subsidiary of GDR
Media.
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BSES
mortgage resolution passed
Mumbai: BSES Ltd, the city-based power generation
and distribution company, has informed the Bombay Stock
Exchange that a resolution for creation of mortgage has
been passed with 99.92 per cent valid votes polled in
postal ballot.
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HPCL
board okays ONGC's takeover of MRPL
New Delhi: The board of Hindustan Petroleum Corporation
Ltd (HPCL) on Thursday approved Oil and Natural Gas Corporation's
(ONGC) takeover of Mangalore Refinery and Petrochemicals
Ltd (MRPL), where HPCL will have a 16.9 per cent stake
after the takeover and recast.
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FACT
council plans picketing
Kochi: The Save FACT Action Council has demanded that
production at the public sector FACT be resumed immediately.
To press its demands, the Action Council will picket National
Highways for half an hour from 5 pm on March 3 at at Kalamassery
and Tripunithura.
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Playwin
targets Rs 2,500 cr
Mumbai: The online lottery business of the Rs 4,500-crore
Essel group is hopeful of generating revenue up to Rs
700 crore during the 12-month period ending March 31,
2003. In 2003-04, the group's revenue is expected to be
around Rs 2,500 crore.
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