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The latest news from India's most respected business daily.
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India, Russia to form JV for transport plane
A joint venture is being formed between state-owned Hindustan Aeronautics Ltd (HAL) and Russian partners United Aircraft Corporation and Rosoboronexport to co-develop and co-produce a Multirole Transport Aircraft (MTA).
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RIL agrees to sign gas supply deal with Essar Oil
Reliance Industries (RIL) has finally agreed to sign a gas supply contract with Essar Oil.
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Dr Reddy's plans to spend Rs 1,600 cr for capacity expansion in two years
Drug maker Dr Reddys Laboratories (DRL) has lined up investments worth around Rs 1,600 crore over the next two years for capacity expansion and building new capabilities.
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Gujarat NRE Mineral plans public issue
Gujarat NRE Mineral Resources Ltd (GNMRL) is set to offer 25 per cent of its equity to the public. The company is the controlling stake holder in Indias largest independent metallurgical coke producer, Gujarat NRE Coke Ltd (GNCL).
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Private retailers selling transport fuel at higher rates
After briefly maintaining prices at par with public sector oil marketing companies following the June 25 price hike, private fuel retailers Essar Oil and Reliance Industries are selling petrol and diesel at a premium of Rs 0.50 to 2.50 per litre in some states.
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IOC to rope in partner for project
The Indian Oil Corporation (IOC) has said it would rope in a strategic investor for its proposed Rs 10,000 crore project at Ennore, Tamil Nadu. The oil major recently signed a a memorandum of understanding (MoU) to set up a liquified gas terminal and a power plant in the state.
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Atul Auto sales rise 92% in August
Rajkot-based Atul Auto Ltd. (AAL), one of the largest three wheeler manufacturers in the country, has reported a jump of 92 per cent in its sales at 1728 units in August as against 901 units in the same month last year.
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Driving into the establishment
In the late 19th century, King Leopold II of Belgium became one of the richest men in the world, fed fat from the profits of his personal fiefdom in Africa, the Congo. It so happened that the monarch got his hands on the colony at the very time one of its most abundant resources, rubber, was becoming as precious as gold.
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Q: Rajendra Hinduja, MD, Gokaldas Exports
Indias largest apparel exporter, Bangalore-based Gokaldas Exports, controlled by global private equity player Blackstone, has been crossing one major hurdle after another in the past three years global slowdown, wrong bets on the rupee-dollar swing, a major fire disaster. Rajendra Hinduja, managing director and part of the promoter family, sees some silver lining ahead. In an interview with Raghuvir Badrinath & Debasis Mohapatra, he discusses a range of issues.
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Detergent war: Ghari gains at Nirma's expense
Ghari gains as HUL and P&G wage a pitched battle.
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York Winery eyes Rs 1.5 crore revenue in first year
Nashik-based York Winery, which produces a variety of wines, is eyeing revenues worth Rs 1.5 crore at the end of the first year of its launch. Introduced into the market nine months ago at an investment of Rs 6 crore, York Winery now plans to set up a specialised restaurant at their property along with accommodation to give wine enthusiasts a complete wine experience.
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Rise more, says Indian industry on yuan
The appreciation of the Chinese currency, the yuan or renminbi (RMB), augurs well for us and will not impact business with China in the near term, especially for companies in the chemical, pharmaceutical and power sectors, feel industry circles.
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