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Envoy urges US firms to build partnership with India
Asking the US corporate sector to build a lasting partnership with India in high technology including the defence sector, new Indian envoy Meera Shankar has said that New Delhi is looking at optimising its ability to procure the best equipment from anywhere in the world.

Philips plans buyback at Rs 242 a share
Consumer electronics major Philips Electronics India has decided to float an buyback offer of Rs 242 per share, to enable minority shareholders make an exit.

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Natco Pharma, Apollo Hospitals, Sundram Fasteners & Emami Q2 result
Natco Pharma net up 13%
Small Business

UTI Mutual Fund to sell 26% stake by August

The country"s oldest fund house, UTI Asset Management Company (AMC), today said it will divest 26 per cent stake to a strategic partner by August this year. "It (process of stake sale) is on the track. We are awaiting clearnace from the stakeholders," UTI AMC Chairman and Managing Director U K Sinha told PTI. Even the pre-IPO placement that was intended to offload about 11 per cent of the post diluted shares was also been put on hold. About 1.2 crore shares were proposed to be offloaded through pre-IPO placements to strategic partners. In April, UTI AMC"s average asset under management increased by Rs 4,616.77 crore to Rs 54,489.99 crore.


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