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Sterlite may up ante,FIs watch for best exit
Sterlite Industries is likely to revise upward its Rs 90 per share bid for 20 per cent of Indian Aluminium's stake, and financial institutions appear to be waiting to see whether its bidding match with Canadian major Alcan, which has already made a counter-offer at Rs 105 per share, ups the stakes.
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Raasi's counter-offer to ICL bid likely
The much-awaited counter offer from Raasi group did not materialise yesterday, despite the prolonged board meeting that stretched till the evening. The Raasi Cement board met yesterday, for the first time following the open offer from the Chennai-based India Cements.
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Carrier Aircon aims big, targets Rs 1,000-crore turnover by 2001
Carrier Aircon Ltd, the 51% subsidiary of the $6- billion Carrier Corporation of the US, is targeting a turnover of Rs 1,000 crore by 2001 from the Rs 350 crore it hopes to achieve in 1997-98. The company plans to reach its target by introducing new products to its existing range and by increasing its manufacturing capacity.
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Volkswagen, centre to thrash out localisation nitty-gritty
Representatives of German car-maker Volkswagen will meet central-government officials on Friday to thrash out the localisation issue for its proposed Rs 1,100-crore car-project in Maharashtra. The meeting has been scheduled to reiterate that the five-year localisation schedule stipulated in the new automobile policy be extended to seven years.
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