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Raasi shares already transferred to India Cements: AP state body cheif
Chairman of the Andhra Pradesh Industrial Development Corporation (APIDC) has confirmed the physical handing over of 3,45,766 Raasi shares to India Cements as against the consideration of Rs 10.37 crore paid through a demand draft. Keeping in view the financial interest of APIDC and considering that RCL had not responded despite repeated efforts, the board had decided to disinvest Rassi shares to ICL at a price of Rs 300 per share.
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McKinsey in talks with ONGC board to centralise drilling wing
International consultant McKinsey has kicked off the process of developing a structure and strategy for Oil and Natural Gas Corporation's (ONGC) drilling operations. These are currently being discussed with the corporation's board. A significant recommendation by McKinsey is that drilling be organised as a centralised group that will adopt its own accounts.
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Tata arm to manage group's international operations
The Tata group has decided to gradually shift the management of overseas facilities of different group companies to Tata International, formerly Tata Exports, which is the international trading arm of the group. Several group companies have extensive international operations and the management of these facilities will be transferred to Tata International for a fee.
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Cielo drives home the value equation
On April 30, 1997, Daewoo made auto-marketing history: it offered 200 free Cielos for customers, to sample for a year. March 1998 is pay-back time: teams of Daewoo managers from marketing, R&D and regional offices have begun fanning out across the country in a hectic direct marketing exercise.
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