IOC to lift RIL petro goods
Kolkata: Indian Oil Corporation Ltd (IOC) has finalised a deal with Reliance Industries Ltd for offtake of diesel, motor spirits, kerosene and liquefied petroleum gas (LPG) from the latter. A formal, one-year agreement in this regard would soon be signed with Reliance Industries Ltd. IOC would take 4.3 million tonnes of diesel, 1.6 million tonnes of LPG, 0.33 million tonnes of motor spirits and 0.41 million tonnes of kerosene from Reliance Industries. IOC has said that Reliance would suffer a net loss of about Rs 1,800 per tonne if the company were to export the products, which IOC has agreed to buy. According to the IOC, Reliance has agreed to offer a discount on the price of these products but did not reveal the amount.
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Baxter's introduces ALYX blood collection system
New Delhi: Baxter Healthcare has brought its blood collection, processing and storage systems - ALYX Component Collection System - to India. This system extracts the red cells and returns all other components to the donor.
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Govt clears Tata Power's trading licence
New Delhi: The Union Government has cleared the Tata Power Company's trading licence. According to the company, as the country's largest private sector power company, it had no objection to supplying free power to farmers provided the state government allowed explicit subsidy.
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Voltas to exit joint venture with Sermo Montaigu
New Delhi: Voltas Ltd proposes has decided to sell its equity stake in Sermo PM India Ltd (SPMIL), formerly known as Prefect Moulds Ltd (PML), to the French joint venture partner for a consideration of Rs 5.21 crore. Voltas said that after re-aligning its business activities and due to commercial and other diverse reasons, it proposes to transfer its entire shareholding of 6.5 lakh (65,00,000) equity shares for the said consideration to Sermo. Voltas has also informed the BSE about its decision. Upon transfer of shares as stated SPMIL would cease to be a joint venture company of Voltas and become a wholly owned subsidiary of Sermo Montaigu, France.
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HC approves Tata Chem and Hind Lever Chem merger
New Delhi: The High Court of Punjab and Haryana has approved the proposed amalgamation of the Hindustan Lever Chemicals Ltd. with Tata Chemicals Ltd. on Wednesday. The two companies will now jointly move the Registrar of Companies for completing the formalities after which HLCL will cease to exist and the amalgamation will come into effect retrospectively from April 2002, thereby creating a more than Rs 3,000 crore chemical and fertiliser company.

The swap ratio for the merger has been fixed at 2.5:1 (2.5 shares of Tata Chemicals for every one share of Hind Lever Chemicals).
Post merger, the company will be able to offer a wider range of complementary products and support services to the current base of customers and also facilitate access to newer markets and customers in both the chemicals and fertiliser businesses, officials said.
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SRF board approves Kashipur plant purchase
Mumbai: SRF Ltd has informed the Bombay Stock Exchange that the company's board on Friday approved a proposal to make an offer to SRF Polymers Ltd to purchase its plant located at Kashipur, Uttaranchal, for the manufacture of polyester film for Rs 50 crore.
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Sundram Fasteners inaugurates Haiyan plant
Chennai: Sundram Fasteners Ltd has inaugurated its China plant to manufacture value added and special fasteners as well as standard fasteners. The plant has been set up in Haiyan county in China. Sundram Fasteners, has so far invested close to $5 million (around Rs 23 crore) in the plant and plans to invest a further $12.5 million (around Rs 57 crore), according to a press release issued by it. The release says that Sundram Fasteners was the first company in the engineering industry from India to set up a manufacturing unit in China.
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JP Mobile buys Asynchrony security product
Hyderabad: JP Mobile, an enterprise mobility software provider, has announced it has signed an agreement to acquire the PDA (personal digital assistant) defence product from Asynchrony Solutions, Inc, a security solutions provider, thereby adding an incremental differentiator to the JP Mobile's Sure Wave product line. JP Mobile will re-brand the product as Sure Wave Mobile Defence.

This acquisition positions the Sure Wave Mobile Defence product as the industry standard in mobile device data security. It also provides multi-layered security for Microsoft Windows Mobile, Palm, Symbian and Research In Motion (RIM) devices.
JP Mobile will be launching three new editions of the Sure Wave Mobile Defence product, all of which will have the core PDA Defence device security features.
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Zenith laptop for students
Bangalore: Zenith Computers has launched the Topper Desktop for Students. The product has been co-created by Intel, the world's largest chip manufacturer. Topper is offered at an affordable price of Rs 23,000, 10 per cent lower than market price. Zenith Topper Desktops are Multimedia PCs with a CD-Writer, Modem, Speakers, Free Internet and a Topper 18 CD pack.

The CDs include Career Launcher software (a subsidiary of Intel Corp) and a host of other softwares such as Vedic Mathematics, Learn to Speak English, Programming languages, Webster Encyclopedia, Chess, Hutchinson Library and many more. Zenith Topper has been carefully designed according to the taking into consideration the complete education curriculum of a student in India, including secondary, college and other competitive exams.
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New look Royal Challenge beer
Bangalore: Shaw Wallace Breweries Ltd has unveiled its mild beer, Royal Challenge Premium Lager. The new look launch is in tune with international packaging trends and increasing consumer expectations, the company said. Designed by a leading Bangalore-based design firm, the new look uses shades of royal blue, green and gold with a bolder motif and design that highlight the brand.
The new packaging is also complemented by the addition of a distinctive neck foil.
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