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Business Briefs

Bhel in takeover mode

New Delhi, Dec. 17: Bhel is looking at a 100 per cent acquisition of Bharat Heavy Plates and Vessels (BHPV). The new facility will be used to boost its industrial boiler business. The government has asked it to manage and operate Bharat Pumps and Compressors Ltd (BPCL). The company said it will be interested in it also as and when the opportunity arises.

Idea plans

New Delhi, Dec. 17: Aditya Birla group company Idea Cellular, which is hitting the market with an IPO in February, is likely to invest up to Rs 6,000 crore over the next two-three years to become a pan-India mobile service provider. Idea has obtained letters of intent for Mumbai and Bihar circles.

Estilo booking

New Delhi, Dec. 17: The Zen Estilo has received over 10,000 bookings in the first 10 days of its launch. The Estilo, a new model of Marutiís earlier Zen, was launched on December 5.

Export growth

New Delhi, Dec. 17: Eighty five per cent of the respondents of a Ficci survey felt that the export target of $125 billion would be met in the current fiscal. The high export growth rates of the last few months are likely to be maintained during the remaining part of the year, the survey said.

HDFC Bank

Calcutta, Dec. 17: HDFC Bank is planning to set up a branch in Hong Kong and has already applied to the international authorities after receiving permission from the Reserve Bank of India.


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