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Promoters
eye over 50 per cent RIL pie, creeping route to be pursued
Mumbai: The promoter group of Reliance Industries
Ltd, the Ambani family, plans to increase its shareholding
in the company to over 50 per cent eventually, as against
their current holding of about 35 per cent.
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Reliance
Infocomm planning to invest Rs 1,500 crore this fiscal
Mumbai: Reliance Infocomm, the mega convergence project
from the Reliance group, will invest Rs 1,500 crore during
the current financial year. Overall, the investment for
the group on the project will be a massive Rs 25,000 crore.
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Cummins
to launch new product range
New Delhi: Cummins India Ltd will be launching a new
range of C series engines in the 150 to 300 HP category
from its new production facility.
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LG
plans second plant at Rs 500 crore
New Delhi: LG Electro-nics India Pvt Ltd is eyeing
either Pune or Hyderabad for setting up its second Rs
500-crore manufacturing plant which will cater to the
requirements in South India.
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Reliance
Q4 net rises to Rs 1,101 cr — Market
unimpressed
Mumbai: Reliance Industries Ltd, said its net profit
for the fourth quarter ended March 31, 2003, rose 41 per
cent to Rs 1,101 crore. During the same period last year,
the company had made a profit of Rs 835 crore.
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Bharti
Tele posts Q4 profit; annual losses up
New Delhi: Bharti Tele-Ventures Ltd. has swung into
profit in the fourth quarter of fiscal 2002-03, registering
a net profit of Rs 25.57 crore, as against a loss of Rs
63.92 crore in the corresponding period in the previous
year.
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M&M
plans to provide engineering knowhow
Mumbai: Mahindra & Mahindra Ltd (M&M), basking
in the success of its indigenously designed sports utility
vehicle (SUV), the Scorpio, has put together an engineering
services division from its research and development (R&D)
assets.
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Tata
Steel bags award
Mumbai: Tata Steel has been conferred the Prime Minister's
Trophy for the best integrated steel plant. This award
has been conferred on Tata Steel for the fourth time and
three times in a row.
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BILT:
Staying behind its peers
New Delhi: For yet another quarter, Ballarpur Industries
Ltd (BILT) has turned in earnings numbers that are modest
in comparison to other players in the industry. A combination
of flat revenue growth (1.5 per cent) and a sharp spurt
in tax outgo has ensured that BILT closed out the January-March
2003 quarter with a growth in post-tax earnings of 3.5
per cent.
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Marriott
opens GSO office
Mumbai: Marriott International, the global hospitality
chain, which recorded 39 per cent growth in India last
year, has opened a global sales organisation (GSO) office.
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Hero
Motors to export to Turkey, Algeria
New Delhi: Hero Motors, a Hero Group company, has
said it has signed agreements with Turkish and Algerian
companies to export its range of mopeds and scooteretts.
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