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RIL: Fishing downstream
Reliance Industries, which had declared an intention to seek inorganic growth opportunities, confirmed a preliminary offer for a controlling interest in global petrochem major, LyondellBassel. The timing is prime for acquisitions in the space as there has been a steep decline in replacement cost and asset value given the plummeting of margins in the petrochemical space.

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Business Standard / New Delhi July 16, 2009, 0:41 IST
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Cipla rises 4.3%

The stock gained 4.3 per cent to close at an all-time high of Rs 345.30, on reports that the company is in talks with Pfizer, world’s largest drug maker, to supply generic products for their drugs. As an ongoing business strategy, the company is seeking alliance with other companies for developing products. - Sunny re-rating of pharma companies - Cipla shares jump on Pfizer talk - Cipla in talks with Pfizer, others for alliance - Pharma world discovers Bharat - F&O Outlook: Nifty may test new high before expiry - Nifty may test new high before expiry The company, which does not market its formulations directly in major markets like the US, follows a business partnership model of supplying products to about 14 drug companies around the world.


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