TVS Motor set to begin billing of Phoenix bikes from tomorrow: Media Reports

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Country’s leading 2-wheeler manufacturer TVS Motor Company would start billing for its 125cc Phoenix commuter motorcycle from tomorrow, said the media reports. Through Phoenix, the company is focusing on establishing a strong presence in the commuter segment that accounts for the largest share of India’s motorcycles sales estimated to be a

Ashapura Minechem’s arm plans to set up kaolin plant in Gujarat

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Ashapura Minechem’s subsidiary Ashapura International has announced intentions to establish a kaolin powder manufacturing plant in Gujarat, said the media reports. The new project is expected to be established near the mineral reserves in Kutch, Gujarat, from where the company has been mining, processing and supplying kaolin products, the report

Medpro’s acquisition likely to boost Cipla’s growth in Africa: Analysts

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Drug major Cipla’s intentions to buy the long-suffering South African firm Cipla Medpro is expected to help the company boost its growth in Africa, analysts told media. On Wednesday, Cipla announced that is in "preliminary discussions" to acquire 51 per cent stake in Cipla Medpro South Africa for a consideration of approximately USD 22

Govt investigating Cadbury local unit in tax case

By Rajesh Kumar Singh

NEW DELHI  - Authorities in India are investigating the local unit of chocolate maker Cadbury over allegations the company may have evaded as much as 2 billion rupees in taxes, a junior finance minister said on Thursday, as the country beefs up its efforts to increase revenues to contain a widening fiscal deficit.

Cipla appoints Subhanu Saxena as new CEO

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Drug manufacturing giant Cipla Ltd today said it has appointed Subhanu Saxena as the company’s new Chief Executive Officer with effect from February 01, 2013. Saxena has a rich work experience of over 25 years in various industries including FMCG, consulting, banking and pharmaceuticals.

During his career, he has worked with companies

Aurobindo Pharma appoints Arvind Vasudeva as new CEO (Formulations)

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Hyderabad-based Aurobindo Pharma Ltd today said the Arvind Vasudeva has been appointed as the company’s new Chief Executive Officer (Formulations) with effect from November 22, 2012. During his career, Vasudeva had worked with Glenmark Pharmaceuticals as its Chief Operating Officer. He had also worked with RPG Life Sciences as Managing Director,

Sensex turns positive for November; government reforms key

By Abhishek Vishnoi

MUMBAI  - The Sensex and the Nifty edged higher on Thursday, turning positive for the month, as a weaker rupee boosted IT shares such as Infosys, while banking stocks such as SBI rose on the first day of the winter session of parliament.

Sentiments also got a boost by the government's move to allow state-run Life

IGL launches new CNG concept in Delhi

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Delhi government owned Indraprastha Gas Limited (IGL) on Tuesday launched India’s first CNG station in Delhi. The first of its kind CNG station in India is modeled on the concept of having ‘Equipment on Canopy’. In this station, all CNG equipment will be installed on RCC canopy, which will lead to a 40 per cent savings in plot area.

No bidders for RGTIL over valuation concerns: Media Reports

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Mukesh Ambani’s pipeline company Reliance Gas Transportation Infrastructure Ltd (RGTIL) is not seeing any bidders due to concerns over the company’s valuations, said the media reports. State-run oil major Oil India has already withdrawn from the race, while GAIL India that had previously expressed interest in bidding for RGTIL has now put

Hindustan Copper jumps over 13% ahead of disinvestment

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Shares of the state-run Hindustan Copper Ltd (HCL) witnessed a surprise rally during the morning trade on Bombay Stock Exchange (BSE) as it rose over 13 per cent, after a negative opening, amid buzz that government will offload 4 per cent stake in the company on Friday. At 10:15 hours, shares of the company were quoting at Rs 271.75 a piece, up 13.61

Piramal Life hits upper circuit on promoters’ plan to acquire 33.08% stake from PHL Holdings

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Shares of Piramal Life Sciences gained 5 per cent, hitting the upper circuit, during the morning trade on Bombay Stock Exchange (BSE) after it announced that its promoters, through one of its trusts, will acquire 33.08 per cent shares from PHL Holdings, following which its stake will go up to 54.66 pe cent.

At 10:00 hours, shares of the com

Blue Dart Express rallies over 13% on promoters’ plan to prune stake

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Shares of Logistics service provider Blue Dart Express on Wednesday gained over 13 per cent during the morning trade on Bombay Stock Exchange (BSE) after it announced that its promoter plans to dilute 6.03 per cent stake, which at current prices would translate into inflows of Rs 245 crore for the promoter DHL Express (Singapore). DHL Express, as of S

SBI gains on hopes of capital infusion by Govt

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Shares of the country’s largest lender State Bank of India (SBI) gained over 1.6 per cent in the morning trade on Bombay Stock Exchange (BSE) on hopes of capital infusion by government soon which will increase its capital base and lending capacity. The Financial Services Secretary DK Mittal, on Wednesday, said that government will soon finalize

Govt not mulling over RIL’s KG-D6 gas price revision before 2014: Moily

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The oil minister Veerappa Moily said that the government is not considering any proposal for increasing price of natural gas produced from Reliance Industries-operated KG-D6 block before the year 2014. "It is reiterated that request of RIL regarding revision of price was rejected in October, 2010 itself and it was categorically stated that no re

Withdrawal of note opposing KG-D6 gas price hike ‘routine’: OilMin

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The oil ministry termed withdrawing of note opposing KG-D6 gas price hike as "routine" while adding that rate revision is not likely to be considered before 2014. The ministry clarified that any note for inter- ministerial consultation or for the consideration of the Cabinet or a group of ministers is returned to the ministry upon change of

ICICI Bank adds new credit card to its ‘Gemstone Collection’; launches Diamant

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India’s largest private sector lender ICICI Bank today announced the launch of Diamant, a super premium credit card for private banking customers. This card is yet another addition to the banks’s “Gemstone Collection” which already include cards like include the ICICI Bank Sapphiro, ICICI Bank Rubyx and ICICI Bank Coral Credit

SpiceJet to raise Rs 200-cr through preferential allotment

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In a bid to boost capital, SpiceJet has said that it plans to issue convertible debentures and/or warrants to its promoters. In its filing to BSE, SpiceJet said that the convertible debenture and or warrants could be converted to as many as 5.22 crore equity shares worth nearly Rs 200 crore at yesterday’s closing price of Rs 37.40. SpiceJet'

Force India to get investment boost

SAO PAULO - Force India will have a 50 million pound boost to help them move up the Formula One grid after a strong performance this year, the team's co-owner Vijay Mallya announced on Wednesday.

"We had a board meeting in India after the Abu Dhabi Grand Prix and the board has approved a 50 million pound capital investment programme for the team,&qu

Pepsi bags IPL sponsorship for Rs 396.8 cr

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It’s ‘Pepsi IPL’ now instead of ‘DLF IPL’. The world’s second largest soft-drink maker PepsiCo Inc has won the title sponsorship of much-hyped Indian Premier League (IPL) cricket championship by paying Rs 396.8 crore for five years. The amount paid by Pepsi was almost double of what DLF had paid. Real estate firm D

Crompton Greaves establishes new JIT manufacturing facility in Goa: Media Reports

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Avantha Group’s leading transformer maker Crompton Greaves (CG) today announced establishment of a just-in-time (JIT) manufacturing line at Goa for high-efficiency, low-voltage rotating machines, said the media reports. The integrated JIT plant, which is designed on the lean principle production output, has a TAKT time (the rate at which custome

Wipro Tech joins CCC to develop smartphone-based connected-car solutions

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Wipro’s IT business Wipro Technologies has joined the Car Connectivity Consortium (CCC) to develop smartphone-based connected-car solutions, said the media reports. CCC, which is a global body dedicated to developing standards and solutions for smartphone and in-vehicle connectivity, has formed a technology standard viz. MirrorLinkÔ that e

Inventories shrink with rise in demand: SAIL

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Narrating a twist in the tale, the state run Steel Authority of India (SAIL) said its inventories have started shrinking with the pick-up in demand. The situation is a complete opposite of scenario few months back when the inventories were over loaded with production due to lower demand from consumer goods.

"There has been a brisk dema

Honeywell Automation to comply with SEBI’s minimum public shareholding norms

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Automation and software solutions provider Honeywell Automation India Limited today said that its promoter Honeywell Asia Pacific Inc. has voiced intentions to reduce its shareholding in the company. At present, Honeywell Asia Pacific Inc. holds 18.76 per cent in Honeywell Automation. The company’s announcement is in compliance with the minimum

Maruti Suzuki aims to increase market share to 45% by 2015-16: COO

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Automobile giant Maruti Suzuki India, Chief Operating Officer, S.Y Siddiqui today said that the company is aiming to increase its market share from 40 per cent to 45 per cent, and to achieve an annual sales volume of 1.8 million cars by 2015-16. “We have a strong base in the country and in spite of stiff competition from other players we are con

Cipla in preliminary discussions to acquire 51% stake in Cipla Medpro South Africa

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Pharmaceutical major Cipla said it is in preliminary discussions to acquire 51 per cent equity stake in Cipla Medpro South Africa for USD 220 million. “Cipla is in preliminary discussions and has made an indicative proposal in relation to the acquisition of an approximately 51 per cent equity stake in Cipla Medpro South Africa,” said the c