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L&T Q1 net up at Rs.80 crore
Mumbai:
Larsen
& Toubro Ltd (L&T) has posted a 26.12 per cent
rise in net profit at Rs.80.13 crore for the first quarter
ended June 30, 2004 as against Rs.63.53 crore in Q1 of
year 2003-04. The
net sales for the reporting quarter rose to Rs.2, 639.37
crore as against Rs.1, 564.93 crore in April-June 2004.
The
figures for the first quarter of 2003-04 exclude financials
of the cement business, which was demerged into UltraTech
Cement Ltd with effect from April 1, 2003.
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Intas
Pharma to launch new biotech drugs
Chennai: Intas Pharmaceuticals is all set to launch
new products at six-month intervals, according to its
officials. Intas is launching the company's first biotech
product, Neukine (Human Granulocyte Colony Stimulating
Factor), to be used in the treatment of cancer. Neukine
would be followed by the launch of Erythropoietin and
Interferon. Intas' products would largely centre on the
treatment of cancer. The company has invested about Rs.40-45
crore in developmental work.
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Tinplate
to ramp up capacity
Kolkata: The Tinplate Company of India Ltd (TCIL)
plans to set up a 2,00,000-tonne per annum greenfield
project in Jamshedpur at an estimated investment of Rs.100
crore. The company also plans to set up a downstream project
with a view to offer a "differentiated value proposition"
to customers. According to the company, plans in this
regard would be firmed up by mid-2005. The downstream
unit would basically produce food and beverage cans. The
company's plant's capacity in Jamshedpur will be ramped
up to 1,63,000 tonnes per annum by the last quarter of
the current fiscal. This would entail an investment of
Rs 39 crore. By October 2004, the plant would attain a
capacity of 1,45,000 tonnes per annum.
The TCIL has appointed the Boston Consulting Group to
"revalidate and redefine" the company's goals
and provide a "strategic direction in the race towards
growth." Besides focussed sales in the domestic market,
the company would continue to export to Europe, West Asia
and South-East Asia. In the current fiscal, exports would
account for 23 per cent to 25 per cent of overall sales.
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TCS
gets onboard ESRI's partner programme
New Delhi: ESRI India, an ESRI Inc and NIIT joint
venture, has announced that Tata Consultancy Services
has joined its ongoing Business Partner Programme aimed
at creating new verticals, service lines and expanding
the existing geographical information system (GIS) industry
segments. TCS has been providing geo spatial solutions
as part of its engineering services along with IT consulting
services, to its clients globally since the early 1990s.
The company, as part of its existing engineering services,
specialises in the usage of ESRI technology to implement
turnkey GIS solutions, customised software development,
digital database creation, and mobile/field GIS implementation.
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