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Unit Trust to urge Nomura to focus on mergers, acquisitions
The Unit Trust of India will urge Nomura of Japan, the joint venture partner of UTI Securities, to immediately focus on mergers and acquisitions. UTI Securities, a subsidiary of UTI, took Nomura as its 40 per cent partner on March 5.
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Dunlop, Tamil Nadu speak in two voices on financial support
The Dunlop managment has approached the Tamil Nadu and West Bengal governments for assistance to begin operations, said managing director PJ Rao. He further stated that the governments have promised to extend their full support.
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JP Morgan, I-Sec to scout about for RPG Dholpur unit overseas equity
The JP Morgan and ICICI Securities combine has been selected for arranging overseas equity for RPG group's 702 mw power project in Dholpur, Rajasthan. The project, which received the final techno-economic clearance from Central Electricity Authority last month, will attain financial closure by July.
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Kotak Mahindra sells 2.8% Raasi stake to ICL
India Cements Ltd (ICL) has picked a further 2.8 per cent stake in its takeover target, Raasi Cement, taking its total stake in the company to 23 per cent. ICL acquired the 2.8 per cent stake from Kotak Mahindra for Rs 300 per share and this acquisition is outside its open offer to the public shareholders of Raasi.
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