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Air India focussing on cutting cost and increasing revenue
Cash-strapped Air India is focussing on cost reduction of Rs 1,500 crore and revenue enhancement of Rs 1,200 crore as per its turnaround plan and the government would infuse equity into the airline in the next few years, the Rajya Sabha was informed today.

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SAIL, ONGC, IOC, NTPC may get Maharatna tag
Four public sector giants — ONGC, Steel Authority of India Ltd (SAIL), Indian Oil Corp (IOC) and National Thermal Power Corp (NTPC) — were likely to get in next ten days the Maharatna status, which would empower these Public Sector Undertakings (PSUs) with greater autonomy, a top government official said today.

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Slowdown hits remittances, says Western Union
With the impact of global slowdown still persisting across countries, there may be a dip in remittances inflow into the country in 2009, according to Rajesh Mehta, director marketing – South and South East Asia, Western Union Services India.
Corporate

Century Textiles, TTML, Glenmark Pharma, MRF Q1 result

Century Textiles - Century Textiles gains on land development plan - Century Textiles to spend Rs 625 cr to develop mill land at Worli - TTML FY09 net loss at Rs 159.60 cr - Century Textiles FY09 net dips 15% at Rs 236cr - Tata Tele: A mountain to climb - Slowdown: Century stops tyre yarn ops in Kalyan Century Textiles and Industries has posted a rise of 126.59 per cent in its net profit for the quarter ended June 30 at Rs 141.62 crore, compared with Rs 62.50 crore last year. TTML Tata Teleservices (Maharashtra) Ltd"s (TTML) net loss remained flat at Rs 34.26 crore in the first quarter ended June 30, 2009, compared with Rs 34.72 crore recorded during the same period of previous financial year. Glenmark Pharma Glenmark Pharmaceuticals recorded a net profit of Rs 53.45 crore for the first quarter, a sharp drop of 53 per cent as compared with Rs 115.37 crore during the corresponding period the previous year. MRF Despite MRF facing labour problems at of its six plants, one near Chennai and at Puducherry, the company"s net profit during the first quarter rose to Rs 125 crore, compared with Rs 31 crore in the quarter a year earlier. Total sales was Rs 1,438 crore, compared with Rs 1,274 crore in the quarter a last year.


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