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Indian Hotels to launch Taj Wellington Mews
New
Delhi: The
Indian Hotels Company Ltd is to open its first serviced
luxury apartments in Mumbai this September. The 80 luxury
apartments, called the 'Taj Wellington Mews,' is to open
at Colaba in South Mumbai.
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MECON completes multipurpose berth
project at Mormugao
Kolkata:
MECON
has successfully completed, on a turnkey basis, the detail
design, engineering, construction, supervision and project
management for two multipurpose berths - 5A and 6A - at
the Mormugao port (Goa) for South West Port Ltd (formerly
ABG Goa Port Ltd).
The berths have been constructed about 120 metres away
from the face of the two old berths (5 and 6) of the port.
The area between the new and old berths will be reclaimed
to create a stockpile area.
South
West Port Ltd has given the phase II consultancy work,
covering detail engineering for the material handling
system with auxiliary facilities for the berths to handle
seven million tonnes of traffic annually, to MECON. The
job also includes designer's supervision and project management
services.
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IndusInd Telecom to get 5.11 pc
stake in Hutch-Essar
Mumbai:
IndusInd
Telecom Network (ITNL), a subsidiary of Hinduja TMT Ltd,
will be allotted 5.11 per cent stake in the consolidated
Hutchison Essar entity, said a notice to the stock exchanges
sent by HTMT on Tuesday.
The
Hinduja group is a joint venture partner with Hutch in
Fascel, which runs GSM mobility services in the Gujarat
circle. ITNL will also participate in the acquisition
of Sterling Infotech's Aircel operations by the Hutch
group. This would be done to retain its stake of 5.11
per cent in the Hutch group.
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Indal hydel plant proposal gets clearances
Kolkata:
Indian
Aluminium Company Ltd (Indal) has completed all formalities
to set up mini hydel power plants in Maharashtra. The
proposed plants, with a combined generation capacity of
about 4 MW, are meant for captive consumption at the company's
sheet and foil plants at Taloja and Kalwa (in Maharashtra)
respectively.
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Patni ESOP plan gets nod
Mumbai:
At
the annual general meeting held on Tuesday, members of
Patni Computer Systems Ltd ratified and approved the employee
stock option plan (Patni ESOP 2003) and declared a final
dividend of Re 1 per share 50 per cent on equity share
of par value of Rs 2. According to a company notification
to the BSE, other resolutions approved at the Patni AGM
included alteration of AoA with regard to further issue
of shares.
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Archimedes launched
Chennai:
Archimedes Tech Law Private Ltd, a Chennai-based company,
has released Archimedes, a software for use by companies,
chartered accountants, company secretaries and lawyers.
Archimedes will be of help to all those who had to comply
with various provisions of the Indian Companies Act, 1956.
The software is priced at a pre-launch one-time licence
fee of Rs 5,000 an installation.
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Mascon Global to come out with rights
issue
Chennai:
Mascon Global has said that the board has approved the
issue of 2.48 crore shares on rights basis at a price
band of Rs 11 and Rs 14 per share. It has also approved
the issue of the same number of detachable warrants to
be converted within 15 months at Rs 15 per warrant (where
one warrant will be converted into one equity share).
The board has also considered and recommended two more
issues for approval: one, issue of shares to ISC Holdings
Inc on a preferential basis, to the extent of $ 5.423
million, towards the part payment of acquisition cost;
and two, the issue of further shares by way of GDR / ADR
to the extent of $ 150 million.
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Bullet Sixty-5 gets a launch in the
US
Chennai:
Royal
Enfield has launched the Bullet Sixty-5 in the US. The
bike comes with a 500-cc engine and a five-speed gearbox,
according to a company press release. The Sixty-5 will
be available in four metallic colours - Purplish Blue,
Silver Ash, Rivera Red and Magic Black. The motorcycle
will have a four-stroke, single cylinder push rod engine.
Royal Enfield also sells the US Classic (350-cc and 500-cc)
and Military (500 cc) motorcycles in the US. At present,
the company sells 400-500 motorcycles a year in the US.
The Bullet Sixty-5 will retail at about $4,500 in the
US.
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