CORPORATE
ANNOUNCEMENTS
Maybach deliveries by September
DAIMLERCHRYSLER India is planning to commence deliveries of the Rs 5-crore luxury car Maybach by September. According to Mr Suhas Kadlaskar, Director (corporate affairs and finance), Daimler Chrysler India, the company has already received ...
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GAIL to raise polymer output capacity
GAIL (India) Ltd is nearly doubling its polymer production capacity from 2.60 lakh tonnes per annum (TPA) to 4.40 lakh TPA at an investment cost of Rs 725 crore. According to a GAIL statement here, the first phase of the investment plan has ...
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FINANCIAL PERFORMANCE
Graphite net up at Rs 51 cr, to pay Rs 4
THE board of directors of Graphite India Ltd (GIL), here on Friday recommended a dividend of Rs 4 per equity share of Rs 10 each for the fiscal ended March 31, 2004. During the year under review, the company earned a net profit of Rs 51.32 crore ...
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MERGERS & ACQUISITIONS
Indian pharma cos' shopping spree timely, say analysts
INDIAN pharma companies are out with their shopping bags in the European market, but Wockhardt Ltd's acquisition of German pharma company esparma GmbH could not have come at a better time, observe analysts. And here's why. "The German generic ...
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Templeton Strategic buys 2.9 pc stake in Aurobindo Pharma
TEMPLETON Strategic Emerging Markets LDC has acquired 13,05,460 equity shares amounting to 2.9 per cent of the total paid-up capital of Aurobindo Pharma Ltd (APL). The mode of acquisition of the shares was through the open market and was ...
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NEW PROJECTS
Fleetguard setting up air intake system unit in Bangalore soon — Exclusively for Ashok Leyland
THE Pune-based Fleetguard Filters Pvt Ltd, had set up an air housing plant exclusively for Tata Engineering and now it is in the process of putting up an exclusive plant for Ashok Leyland for air intake system. Talking to Business Line, ...
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ALLIANCES & JOINT VENTURES
Bio-diesel project enters phase-II; talks on for tie-ups
AFTER an encouraging response to the first phase of the bio-diesel extraction project, the Council for Scientific and Industrial Research (CSIR) is looking to tie-up with a number of players for the second phase. It is in talks with companies ...
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Canara Bank signs MoU with Bajaj for auto finance
CANARA Bank has announced that it has signed a memorandum of understanding (MoU) with Bajaj Auto Ltd to finance Bajaj two-wheelers. In a press release here, the bank said as per the MoU, Canara Bank would offer loans for purchase of Bajaj ...
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DIVERSIFICATION
Reebok to diversify into fitness equipment
COME August, Reebok India expects to diversify into retailing of fitness equipment in the country. Mr Subhinder Singh Prem, Managing Director, Reebok India, sees this diversification as a "natural fit" for the company in India. "It's too early ...
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SICK UNITS
Saregama plans to sell land in revival bid
SAREGAMA India Ltd, the ailing entertainment company in the RPG group fold, is planning to sell of the majority of its land housing its factory premises here, as part of its turnaround bid, sources said. Confirming this development, top RPG ...
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OUTLOOK
Hyundai India's Mexican exports on despite possible break-up with Daimler
HYUNDAI Motor India's exports of the small car Atoz to Mexican market is unlikely to face rough weather even if the equity partnership between the company's Korean parent — Hyundai Motor Company (HMC) and DaimlerChrysler AG is snapped. ...
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Godfrey Phillips bets on exports
CIGARETTE manufacturer Godfrey Phillips India (GPI) wants to grow its export business as large as its domestic business. To this end the company has re-aligned itself into two main divisions — domestic and international. It hopes the ...
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PERFORMANCE
Six Sigma has spelt success for Ford India, says Friedman
IT will be worthwhile for the auto component sector in India to adopt Six Sigma — a data-driven management tool that helps eliminate waste and improve processes — especially when the sector is increasingly looking at exports and is ...
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PEOPLE
Ramesh Kumar to head NMDC
MR B. Ramesh Kumar has been appointed as the Chairman-cum-Managing Director of the National Mineral Development Corporation Ltd. (NMDC), a Government of India Enterprise under the Union Ministry of Steel. Mr Kumar, Director (Technical), is a ...
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