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India Inc eyes Sri Lanka for projects
A host of Indian companies are planning to develop projects across sectors in the island nation of Sri Lanka.

Nirupam calls for political solution to Singur deadlock
The West Bengal government will not be able to bring any new investor for Singur unless a political solution is achieved.

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Mamata eyes Jharkhand votes
Buoyed by the Trinamool Congress’ success in the just-concluded Arunachal Pradesh elections in which it won five seats, party chief Mamata Banerjee has decided to field candidates in the upcoming Jharkhand elections as well. Even as the Congress is irked by Banerjee’s zeal as her party eats into its votebank, Banerjee is determined to make the Trinamool a registered national party by increasing its vote share in other states. The two parties are partners in the United Progressive Alliance but Banerjee is yet to decide if the Trinamool will support the Congress government in Arunachal Pradesh or sit in the opposition. Banerjee is also looking at constituencies in the East Singhbhum area — with a considerable Bengali population — as her target constituencies in Jharkhand.
Management

Murugappa group to invest Rs 586 cr in group firms

The Chennai-based Murugappa grorup, which crossed Rs 15,500 crore in turnover, is planning to invest Rs Rs 586 crore in 2009-10 through its group companies. Speaking to reporters today at Chennai A Vellayan, vice chairman, Murugappa Group said that the the company had invested Rs 850 crore in 2008-09 and planning to invest Rs 586 crore in 2009-10. Commenting about the group"s result Vellayan said company"s net profit increased to Rs 1,482 crore in 2008-09 as compared to Rs 585 crore, a year ago. He noted, 2008-09 profit include Rs 750 crore revenue by selling group company"s 47 per cent stake in Parryware Roca Pvt Ltd last year. The Group"s turnover increased by 63.3 per cent to Rs 15, 646 crore as compared to Rs 9,582 crore, a year ago. Vellayan added, in 2009-10 the company would look at strengthening its agri-business by acquiring new Tea estates in North East and will increase its sugar business. He added, the group"s diversification, through TI Metal Forming is a significant strategy considering that more than 30 per cent of the sales for this division is estimated to come from the Railways vertical in 2009-10.


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