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TCS third quarter net up 33.9%
India’s largest IT services provider, Tata Consultancy Services, beat market expectations to post a 33.9 per cent jump in its net profit at Rs 1,824 crore for the quarter ended December 31, 2009 as compared to the same period a year ago. Its revenue, too, jumped 5.1 per cent on strong volumes of 6.6 per cent to touch Rs 7,649 crore year-on-year.

LG aims to sell 3 lakh units by 2010
South Korean consumer durables major LG today said it plans to give a push to its LED TV sales by launching more advanced versions of it in 2010 and expects to sell up to 3 lakh units by the end of next year.

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Haryana to seek higher funds under JNNURM
Haryana Finance Minister Capt Ajay Singh Yadav has directed the financial commissioner and principal secretary, urban local bodies, that the matter could be taken with the Government of India to increase the allocations under JNNURM and Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT). The finance minister was reviewing the progress of central sponsored schemes with the officers of finance, public health and urban local bodies department. These schemes were being launched in the state for the welfare of all sections of society.
Business Opportunities

Procter & Gamble in talks to buy Sara Lee brands

Procter & Gamble, the maker of Pampers diapers and Pantene shampoo, is in talks to buy part of Sara Lee Corp’s international household products unit, according to people familiar with the discussions. - P&G Hygiene: A good performance - P&G soars 4% on Q4 net rise - P&G to sell global pharma biz for $3.1 bn - Procter & Gamble Hygiene and Healthcare change in ownership - P&G to win more consumers in India, China: McDonald - Procter & Gamble's net up 27 per cent to Rs 35 crore P&G is mainly interested in the division’s air-care business, which makes Ambi Pur air fresheners, said the people, who declined to be identified because the talks are private. Sara Lee prefers to find one buyer for the entire unit, which also includes insecticide and Kiwi shoe polish, they said. Sara Lee is unloading units to focus on coffee and food, and agreed to sell body-care and European detergent units to Unilever for 1.28 billion euros ($1.9 billion) last month. Based on that multiple of 1.8 times sales, the air-care unit would be worth about $700 million. Sara Lee, based in Downers Grove, Illinois, said at the time the Unilever deal was announced that it has received “significant interest in the remainder of its household business and is continuing to pursue divestiture options.” Officials from P&G and Sara Lee declined to comment. P&G, based in Cincinnati, dropped 20 cents to $57.49 in New York Stock Exchange composite trading on Wednesday. Sara Lee shares rose 18 cents to $11.46. The air-care unit accounted for about 20 per cent of the household and body-care segment’s sales, according to a 2008 Sara Lee presentation to analysts. Total sales for the segment in the year ended in June were $2.03 billion. Unilever is buying a unit that includes brands such as Sanex shower gel and Duschdas and Radox soap. It generated 750 million euros in sales in the year ended in June. Sara Lee’s units may also draw interest from companies including Godrej Consumer Products, India’s second-biggest soap maker.


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