CORPORATE
ANNOUNCEMENTS
SAIL to hold prices at pre-raw material surcharge levels
New Delhi, April 25 Steel Authority of India will hold prices at the present levels without levying the raw material surcharge of Rs 5,000 to Rs 6,000 a tonne imposed by other primary steel producers.This will make SAIL products ...
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Ranbaxy gets US nod for respiratory allergy drug
New Delhi, April 25 Ranbaxy Laboratories Limited (RLL) has received the final approval from the US Food and Drug Administration to manufacture and market a respiratory allegery drug, cetirizine hydrochloride oral solution (allergy) and ...
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BUYBACK
SRF posts Rs 139-cr PAT; to pay 20% final
New Delhi, April 25 SRF Ltd today reported a profit after tax (PAT) of Rs 139 crore on a revenue of Rs 1,615 crore for 2007-08. The company’s revenues declined 10.4 per cent from Rs 1,802 crore and net profit by 52 per cent from ...
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DIVIDEND ANNOUNCEMENT
Cosmo Films to pay 50% dividend
New Delhi, April 25 Cosmo Films on Thursday declared 50 per cent dividend for the financial year 2007-08. The company reported a net profit of Rs 44.50 crore, up 79 per cent compared with Rs 24.82 crore in 2006-07.The company’s ...
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NEW BUSINESS
Gayatri Projects gets 6 orders
Gayatri Projects Ltd has secured six new orders aggregating Rs 96.79 crore pertaining to civil engineering works for steel plants and mining companies in Andhra Pradesh, Karnataka and Bihar. The orders were executable within a period ranging from ...
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RESTRUCTURING
Iris Manufacturing hives off design unit as subsidiary
Chennai, April 25 The Chennai-based Iris Manufacturing Ltd (IML), part of the Rs 6,000-crore Shriram Group, has hived off its design division as a wholly owned subsidiary, Iris Engg Design Private Ltd (IEDPL). The Managing Director of ...
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MERGERS & ACQUISITIONS
Bharat Refractories merger with SAIL approved
New Delhi, April 25 The merger of Bharat Refractories Ltd (BRL) with Steel Authority of India Ltd (SAIL) was approved by the Union Cabinet here on Thursday.The merger will follow cleaning up of the books of Bharat Refractories that ...
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Nod for Shaw Wallace merger with United Spirits
The iconic corporate entity by the name of Shaw Wallace & Company Ltd faded into history on Friday with shareholders of the company approving a scheme of amalgamation that sought to merge Shaw Wallace & Company with UB Group company ...
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NEW PROJECTS
NMDC going solo on Chhattisgarh steel project
SAIL out of joint venture
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OVERSEAS INVESTMENTS
Jindal Steel gets exploration licence from Bolivia
Kolkata, April 25 The Bolivian Government has given Jindal Steel & Power Ltd (JSPL) an exploration licence for the El Mutun iron ore facility. Mining operations will begin on a small scale by the end of 2008 and steel production in ...
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ALLIANCES & JOINT VENTURES
Avesthagen inks pact to co-develp novel vaccines
Bangalore, April 25 Avesthagen Ltd said it has signed a letter of intent with ShigaMediX SAS, Paris, to co-develop novel vaccines against cervical cancer-causing human papilloma virus and tuberculosis.The cancer vaccine will be based on ...
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BONUS ANNOUNCEMENTS
Reliance Power closes above Rs 400 mark
Announces June 2 as record date for bonus issue
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OUTLOOK
Mahindra-Renault plans to export Logan
New Delhi, April 25 After Logan completes one year in the domestic market, Mahindra-Renault is set to drive the sedan into the overseas market. “We are exploring right-hand drive markets like South Asia, and Africa amongst others ...
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United Spirits to improve distilling capacity
Will be able to produce spirits from molasses, grains
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Cobra Beer arm seeks FIPB nod for change in status
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Merck to launch diabetic drug Januvia soon
Bangalore, April 25 Pharma major Merck & Co, Inc is improving its operations, visibility and market presence in India and is focusing on the launch of Januvia, its drug for insulin-independent diabetics, according to Dr Richard Tillyer, ...
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BMW aims to sell 2,000 vehicles this year
Drops plan to launch ‘Mini’ next year; says market not yet ready
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Eastern Silks shifts focus to domestic market
Eastern Silk Industries Ltd, in a major initiative, has decided to shift focus to domestic market instead of relying wholly on exports. Mr G. Venkatesh, President of the company, told Business Line that the tricky global ...
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Pennar Ind upbeat on growth prospects
Riding on the surge in steel prices and consistent growth of around 15 per cent, Pennar Industries Ltd, expects to touch the Rs 1,000-crore turnover mark during the fiscal year 2008-09. The hike in steel prices alone would contribute ...
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PERFORMANCE
Hassan-Mangalore rail company breaks even
Handles 4.6 mt of freight traffic in 2007-08
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