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Pharmaceutical companies reduce FCCB burden by 60%
Indian drug companies have reduced their cumulative foreign currency convertible bond (FCCB) burden by over 60 per cent. This has helped the companies improve their financial health and look for further fund-raising for expansions.

IL&FS open offer for 20% in Matyas Infra tomorrow
Infrastructure firm IL&FS"s open offer for acquiring an additional 20 per cent stake in crisis hit Maytas Infra will open tomorrow.

News of the day

Eight of top-10 firms lose Rs 85,000 cr in m-cap
Eight out of the 10-most valued firms saw their market capitalisation (m-cap) tumble by as much as Rs 85,000 crore till date in 2010, as the stock markets witnessed a down-slide.
International Business

Pyramid Saimira suffers Rs 100-cr loss

Chennai-based Pyramid Saimira Theatre Ltd (PSTL) said the company suffered a business loss of over Rs 100 crore last year which resulted in an erosion of working capital. Meanwhile, N Narayanan, one of the promoters of the company, took over as the new chairman from P S Saminathan, who will continue to remain managing director. Sensex flat; Metal, IT stocks gain However, in an announcement to the BSE on January 30, 2009, the company had said the group had lost Rs 40.32 crore on account of a Tamil film titled Kuselan; Rs 26.57 crore towards I-T due and Rs 76.32 crore was provided for as an external loss towards foreign exchange.


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