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Business Briefs

Green signal for SEZs

New Delhi, Sept. 5: The government today approved the proposals of Reliance Industries, Wipro, Hewlett-Packard and Biocon to set up special economic zones ' a move that is expected to generate at least 67,000 jobs by March 2006. The board of approval's meeting, chaired by department of commerce additional secretary G.K. Pillai, has cleared various SEZ proposals, including Reliance's 10,000-hectare SEZ at Jamnagar in Gujarat. It also cleared Wipro's proposal to set up SEZs in Bangalore, Chennai, Hyderabad, Noida and Pune.

Colgate move

Mumbai, Sept. 5: Colgate-Palmolive Co, New York has sold off 10.94 per cent stake in its Indian subsidiary to its Singapore-based unit Colgate Palmolive (Asia) Pte Ltd with effect from September 1, Colgate Palmolive, India informed the National Stock Exchange today.

Videocon

Mumbai, Sept. 5: Videocon Industries has allotted 12.57 crore shares to Petrocon shareholders following the merger of Petrocon India with itself.

Four Soft

Mumbai, Sept. 5: Four Soft Ltd has acquired the transport and logistics division of the UK-based DCS Group for $19 million.

M&M dividend

Mumbai, Sept. 5: Mahindra & Mahindra Ltd (M&M) has declared a 130 per cent dividend, including a 30 per cent special dividend, for 2004-05.


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