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Samtel Electron, Samtel Color merger ratio at 10:17
The swap ratio for the merger of Samtel Electron Devices with Samtel Color has been fixed at 10:17. The merger, which is subject to the approval of Delhi and Allahabad high courts and shareholders of both the companies, will be effective from April 1, 1997.
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GIC to revise third-party motor claim premium
The General Insurance Corporation (GIC) will be able to wipe out the entire loss of Rs 1,200 crore accrued on account of third-party motor claim by 2000, by revising the premium for this category. With the forthcoming hike -- pegged at a maximum of 490% for trucks and 224% for cars by the end of 1998-99 -- the industry can compensate about Rs 400-500 crore of loss.
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Goodricke posts 248% rise in net profit for 1997
Goodricke has posted a 248% growth in net profit for 1997. The turnover has jumped more than 21% to Rs 146 crore from Rs 120 crore in 1996. The tea major produced nearly 17.5 million kg of tea in 1997 from its 17 gardens spread over North Bengal and Assam.
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Columbia/HCA may lose $1 bn in Q4
Columbia/HCA Healthcare Corp, the target of a federal investigation, plans to lose between $1.25 billion and $1.35 billion in the fourth quarter, due mainly to charges for closing or selling hospitals and other assets. The anticipated loss was far worse than Wall Street had been expecting, and Columbia's stock plunged in heavy trading.
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