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Parry buyback on cards

New Delhi, Jan. 17: New Ambadi Estate, one of the promoters of the Murugappa group, has drawn up plans to buy back a 20 per cent stake in Parry Agro. M. V. Subbiah, director, external relations and innovations of Murugappa group, disclosed this while speaking to newspersons here today. The company has already informed the Securities and Exchange Board of India (Sebi) about the move, he added.

The Murugappa group is expecting a lower turnover of Rs 3,150 crore for the period April-December 2002-03 compared with Rs 3,220 crore in the same period last year.

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