CORPORATE
ANNOUNCEMENTS
Volvo veers into used truck market
GLOBAL truck maker Volvo has made its foray into the lucrative used truck market in India and expects to sell around 100 units per year. "It is an extremely good opportunity because it allows more customers to use our trucks," the Volvo India ...
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The Park launches `Residence' floors
The hotel's General Manager, Mr V. V. Giri, told newspersons that these designer rooms, spread over the seventh and eighth floors, would offer personalised facilities to corporate travellers. The Residence, a self-contained section, is targeted ...
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COMPANY LAW
ICSI expert group to work on model Company Law
WITH the Minister for Company Affairs, Mr Premchand Gupta, clearly indicating that the Government would favour a trim Companies Act, the Institute of Companies Secretaries of India (ICSI) has constituted an expert group to work on a model Company ...
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MERGERS & ACQUISITIONS
Raymond's stake sale in EBG India
RAYMOND Ltd has informed the Bombay Stock Exchange that in terms of the Shareholder's Agreement dated September 9, 2000, entered into by the Company with EBG Gesellschaft Fur Elektromagnetische Werkstoffe GmbH (a ThyssenKrupp Company), Germany, ...
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Dewan Housing Finance scouting for acquisitions
DEWAN Housing Finance Corporation Ltd (DHFL), the second largest housing finance company in the private sector, is looking for acquisitions with healthy portfolios in the eastern region. According to Mr Kapil Wadhawan, Managing Director of ...
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IDEA completes Escotel buy
IDEA Cellular on Thursday announced the completion of its acquisition of Escotel Mobile Communications Ltd. The company has acquired hundred per cent shares from Escotel's promoters - Escorts Telecommunications Ltd and First Pacific. With ...
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NEW PROJECTS
Kanoria's new PAC facility to go on stream by month-end
KANORIA Chemicals and Industries Ltd (KCIL) is planning to put its new polyaluminium chloride (PAC) plant on stream by the end of this month. The plant was scheduled to go on stream last month but it has been delayed due to various reasons, ...
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SITRA to commission pineapple fibre plant in Agartala
THE South India Textile Research Association (SITRA) is to commission this month its first commercial model of a pineapple fibre extraction plant in Tripura on behalf of a tribal women's NGO there. Costing Rs 5 lakh, the five-unit extraction ...
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Ace Micromatic opens technology centre in Pune
ACE Micromatic Group, a player in the machine tool industry, has opened up a technology centre in Pune. Talking to presspersons, Mr Srinivas G. Shirgurkar, Director, said the latest technology centre would offer comprehensive training programme, ...
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Jatti Intl gets into manufacturing
ENCOURAGED by the response being received for its products, Jatti International Inc (JII), the Bangalore-based company into traffic management systems, is considering a proposal to set up its own manufacturing facility in the country. The ...
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ALLIANCES & JOINT VENTURES
Atlas outfit ties up with BSNL for broadband services
ATLAS Interactive India Pvt Ltd, a subsidiary of the $300 million (around Rs 1,348 crore) Atlas Group, has entered into an agreement with Bharat Sanchar Nigam Ltd (BSNL) to provide entertainment services over broadband. These include ...
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Kerala milk co-op Milma ends tie-up with Mother Dairy
HUGE operational losses have forced the Kerala Co-operative Milk Marketing Federation (Milma) to call off the joint venture marketing arrangement with Mother Dairy Foods Ltd, a subsidiary of the National Dairy Development Board (NDDB). A ...
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DIVERSIFICATION
MFL to sell insurance products
INSPIRED by its competitors, Madras Fertilizers Ltd (MFL) is getting into marketing insurance products, both life and non-life. According to MFL's Managing Director, Mr Sukumar N. Oommen, the company has entered into an agreement with ING ...
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PERFORMANCE
Manganese Ore turnover touches Rs 229 crore
MANGANESE Ore (India) Ltd (MOIL), the Nagpur-based public sector undertaking (PSU), has achieved its highest ever turnover and production of Rs 229 crore and 7.99 lakh tonnes during the financial year 2003-04. The record performance has earned ...
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Salem Steel Plant sales turnover up at Rs 557 cr
THE public sector Salem Steel Plant's (SSP) improved performance in the last fiscal has lifted up its gross margin and also helped it bring down its interest burden during the 2003-04 financial year. The special steel unit of Steel Authority of ...
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TRENDS
Slump in stock prices prompts promoters to pick up shares
THE recent fall in stock prices may have kept a large number of investors away from the market, but promoters and directors of several companies are using the slump to acquire their company's shares from the open market. In the last couple of ...
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