CORPORATE
ANNOUNCEMENTS
Skoda announces price cut; Hyundai plans to raise prices
Volume carmakers indicate plans to jack up prices
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TAXATION
Dividend distribution tax: It's better off being foreign branch office
Rise in dividend distribution tax
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IPR
US co to develop, sell Ranbaxy's statin
Pharmaceutical Product Development Inc (PPD) has acquired the rights to develop, manufacture and market Ranbaxy Laboratories' novel anti-cholesterol statin. PPD, the US-based contract research organisation, will conduct additional pre-clinical ...
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MERGERS & ACQUISITIONS
Himatsingka buys 70% stake in Italian co
Himatsingka Seide has completed the acquisition of a 70 per cent equity stake in Giuseppe Bellora SpA, Italy. This is consequent to the signing of definitive agreements in January. Mr Giuseppe Bellora will continue as the Managing Director and ...
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NEW PROJECTS
Kuwait group to set up 5-star hotel in Kochi
Partners with InterContinental group
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REGULATORY BODIES & RULINGS
Finnish nod for Aurobindo unit
Aurobindo Pharma Ltd has announced that NAM (National Agency for Medicines), Finland has given the go-ahead for the manufacture of Cefuroxime injectable 750 mg and 1,500 mg at its Unit-VI facility in Chitkul village of Medak ...
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ALLIANCES & JOINT VENTURES
Tie-up for new gas pipeline project
Numaligarh Refinery Ltd (NRL) and Assam Gas Company Ltd (AGCL) on Thursday entered into a joint venture agreement for formation of a new company to implement the 200-km gas pipeline from Dhuliajan to Numaligarh. The new company ...
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OUTLOOK
No change in RIL's petro prices
The proposed excise duty reduction will not bring about any revision in the pricing of petrol and diesel at Reliance Industries outlets. In other words, fuel sold by RIL outlets in the North-Eastern States, West Bengal, Bihar, Chattisgarh, ...
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Oil India IPO likely by Oct
Oil India Ltd (OIL) hopes to tap the capital market by October. OIL, Director (Finance), Mr T.K. Ananth Kumar, said the company has proposed a 10 per cent float to the Government and hoped to get the mandatory approvals by March-April this ...
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PERFORMANCE
Oil marketing firms losing Rs 100 cr a day
Oil marketing companies are losing about Rs 100 crore a day on sale of petrol, diesel, LPG and kerosene through the public distribution system (PDS). This continues even after the Finance Minister, Mr P Chidambaram, cut excise duty on auto fuels ...
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Tata Motor's UV range posts highest sales in February
The company reports total sale of 53,707 vehicles (including exports) for February 2007
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Hero Honda sales up 11.8% in Feb
Hero Honda today reported an 11.89 per cent increase in total sales during February at 2,80,515 units. The company had sold 2,50,695 units during the same month a year ago. Hero Honda had reported a 19.28 per cent jump in sales ...
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M&M Feb sales up 19.2%
For February, Mahindra & Mahindra's (M&M) auto sector has posted domestic and export sales of 13,746 vehicles (11,536 units), registering a growth of 19.2 per cent over February 2006. Domestic sales for February were up 17.6
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