The Telegraph
Since 1st March, 1999
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Corporate Briefs

UBI, DSP Merrill in alliance

Union Bank of India (UBI) has tied up with DSP Merrill Lynch Mutual Fund for distribution of the latter’s mutual fund products through the bank’s network in the country. “We have formed an alliance with DSP Merill Lynch to increase our fee-based income and have set a target to distribute their MF products of Rs 100 crore for the next 12 months,” UBI chairman and managing director V. Leeladhar said. Initially, the state-owned bank would distribute MF products through 23 branches in Mumbai and later expand the network in phases, Leeladhar said.

PSL Holdings

PSL Holdings Limited, manufacturers of steel pipe, has bagged orders worth Rs 400 crore. It has bagged the New Tirupur Area Development project, the Chennai Water Supply Augmentation project and the Narmada Main Canal to Dharoi Reservoir pipeline project.

BPL cordless

BPL Telecom has unveiled cordless caller ID phones CLT (8001). The model is priced at Rs 2,750, a release said.

LIC Housing

Targeting to meet the growing needs of senior citizens, LIC Housing Finance has launched Care Homes. Residential complexes would be built for senior citizens under the scheme, a press release said.

Sterling order

Sterling Biotech has bagged a Rs 5.5-crore order from US-based Cardinal Health Inc for supply of gelatin, a company release said.

ICRA rating

Icra has reaffirmed the highest short-term safety A1 rating to the Rs 15-crore commercial paper programme of Biological E. The company’s fixed deposit programme has also been revised to MA from MA+ indicating adequate safety in medium terms.

Hindalco NCD

Crisil has reaffirmed Hindalco Industries Ltd and Indian Aluminium Co Ltd’s (Indal) non-convertible debenture (NCD), commercial paper, fixed deposits and short-term debt to highest safety.

Vijaya Bank

Vijaya Bank has tied up with Life Insurance Corporation to offer life insurance cover to all its existing as well as new savings/current/term/ deposit customers, a release said.

Vocaltec pact

Vocaltec Communications and Data Access have finalised an agreement under which Data Access has committed to place purchase orders for Vocaltec equipment and related services in the estimated amount of $ 8 million.

Bank network

State Bank of Patiala has achieved 100 per cent computerisation with its Dehar Tiwana branch going online, a press release said.

Goodcare feat

Goodcare Pharma (P) Ltd has received GMP certification for its Gurgaon unit.

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