The Hindu : Business News : Thursday, May 13, 2004

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Thursday, May 13, 2004

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IIP clocks higher growth at 6.9 p.c.
NEW DELHI, MAY 12.Indian industry managed a 6.9 per cent growth during 2003-04, up from 5.7 per cent in the previous year. The higher growth was achieved through a 7.2 per cent increase in manufacturing, 5.1 per cent in mining and 5 per cent in ...

SEBI panel to review market infrastructure
MUMBAI, MAY 12.The Securities and Exchange Board of India's high level taskforce, Securities Market Infrastructure Leveraging Expert (SMILE), would conduct discussions with intermediaries and investors to make comprehensive set of recommendations ...

LG Electronics India to invest Rs. 700 cr.
GREATER NOIDA, MAY 12. LG Electronics India today said it aimed over three-fold increase in turnover to Rs. 15,000 crores in the next three years due to increasing TV and mobile phone sales and would invest Rs. 700 crores for new products besides ...

Railways to study steel price rise
NEW DELHI, MAY 12. The Ministry of Railways today announced the constitution of a three-member Committee of Executive Directors in the Railway Board to study the recent abnormal hike in the prices of various steel products used in production of ...

Other Stories

Rupee stages mild rally

Tata AIG posts maiden profit

Daimler to divest stake in Hyundai Motor

Canara Bank net up, to pay 25 p.c. final

BPL Mobile subscriber base crosses 2 million

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Briefly
Avesthagen ties up with Cipla
MUMBAI, MAY 12. Avestha Gengraine Technologies Pvt. Ltd. (Avesthagen) and Cipla have embarked on a collaborative biopharmeceuticals development programme for a new generation of targeted therapies. The partnership is expected to widen with a ...

Tata Power to raise $500 m
MUMBAI, MAY 12. Tata Power Company today said the State government has nominated Sanjay Bhatia as the State Government Director on the Board of the company in place of Jayant Kawale. Mr. Bhatia was appointed as the nominee Director by the Board ...

ICICI Bank to raise $150 m
MUMBAI, MAY 12. ICICI Bank is in international market to raise up to $150 million through a syndicated loan of three year tenure. The syndication, with a greenshoe option for $50 million, opened last week and is expected to close in 4-6 weeks, ...

New FDI proposals
NEW DELHI, MAY 12. The Government today cleared 21 foreign direct investment proposals worth Rs. 18.46 crores. The FDI proposals approved by the Union Finance Minister, Jaswant Singh, on the recommendation of the Foreign Investment Promotion ...

TEA portal brochure released
COIMBATORE: The Secretary, Union Ministry of Textiles, S. B. Mohapatra, on Wednesday released the brochure of the portal of the Tirupur Exporters' Association (TEA) at the inauguration of the 18th edition of the India Knit Fair in Tirupur. The ...

1:4 bonus from Mid Day Multimedia
MUMBAI: Mid Day Multimedia has informed the Bombay Stock Exchange that the board has recommended an issue of bonus shares in the ratio one share for every four equity shares held. The board also decided not to recommend subdivision of shares and ...

Elder Pharma net up
CHENNAI: Elder Pharmaceuticals has reported a 20.8 per cent rise in its income from operations at Rs. 70.94 crores in the fourth quarter ended March 31, 2004 against Rs. 58.73 crores in the corresponding quarter of the previous year. The gross ...

Virtusa to expand Chennai operations
CHENNAI: The U.S. - based software development company, Virtusa, plans to invest $10-12 million to expand its Chennai operation. A new centre will be developed which will have a seating capacity of more than 1,500 software professionals, ...

Altech Star partners Actuate
CHENNAI: Altech Star Inc. (Altech) a global technology services company, has partnered Actuate Corporation to become an Actuate silver consulting partner. The partnership will equip Altech Star with the technology to deliver scalable enterprise ...

Union Bank ties up TAFE
MUMBAI: Union Bank of India has signed a memorandum of understanding with Tractors and Farm Equipment Ltd. for tractor financing. The bank has revised the interest rate also for the benefit of the farmers under farm mechanisation scheme whereby ...

Benchmark AMC launches new scheme
CHENNAI: Benchmark Asset Management Company has announced the launch of split capital fund a new scheme jointly conceptualised with JM Morgan Stanley Fixed Income Pvt. Ltd. The IPO for the fund is open from May 12 to 26. The split capital fund is ...

ADB study team visits APSFC
HYDERABAD: A study team from Asian Development Bank (ADB) visited Andhra Pardesh State Financial Corporation (APSFC) and held discussions on measures required to strengthen SFCs to enable them to play an increasing role in development of small ...

Four Soft gets Award of Excellence
HYDERABAD: The Global Institute of Logistics (GIL) has designated Four Soft (4S) as the recipient of its `Award of Excellence' accreditation. According to a release issued here on Thursday, the comprehensive study conducted by the research ...

Kinetic launches Zing
BANGALORE: Kinetic Motor Co. launched its new scooterette Zing 80 here on Wednesday, with a 71.5cc two-stroke engine. The General Manager (Marketing), Ajinkya Firodia, said, "the target is to sell 60,000 Zings this year. It has features such as a ...

New OTC products from Karnataka Bank
MANGALORE: Karnataka Bank has decided to launch two varieties of co-branded over the counter (OTC) products covering health and home insurance, during the current financial year, as an exclusive offering for the bank's customers, according to a ...

Other Stories

South Indian Bank net at Rs. 84.33 cr.

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