ECONOMY & NATION


MDT/PTI 16 August 2012
Following the transactions, LIC's shareholding in ACC, in which Swiss major Holicm has the majority stake, has now come down to 7.82% Mumbai: State-run Life Insurance Corporation of India (LIC) has sold 2.68% stake in cement maker ACC for Rs187.75 crore through open market operations,...

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The recent imbroglio at the Maruti Suzuki’s Manesar plant may have serious ramifications for the future of Gurgaon and the National Capital Region   The waiting list for procuring the Maruti D’Zire is now said to be about nine months or so; it may well be true, due to the situation at...

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If Reliance was aware of the steep fall in gas production; it ought to have taken alternative steps to obtain the gas to cover the shortfall, and ensure its subsidiaries lay the pipelines on schedule, so that the country does not suffer The supply position of gas from the D-6 block is...

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This is a subject Moneylife has written on many times in the past. It now appears that RBI has finally taken some steps. It is now up to you as a consumer to ensure that your bank/branch/ATM is subscribing to those RBI directives The Reserve Bank of India (RBI), to its credit, has one of...

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MDT/PTI 14 August 2012
Ramdev has now succumbed to the pressure of BJP and also the NDA partners and to that extent he has completely lost his credibility, says M Veerappa Moily   New Delhi: Slamming yoga guru Baba Ramdev for using his agitation as a 'license' to take on those in authority, the union...

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Moneylife Digital Team 14 August 2012
Aluminium contributed Rs1,248 crore to the total income of NALCO during the first quarter while  chemicals and electricity contributed Rs760 crore and Rs515 crore, respectively   State-run National Aluminium Co Ltd (Nalco) reported a 41% fall in net profit to Rs223 crore for the...

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Moneylife Digital Team 14 August 2012
SML Isuzu’s net sales in the June quarter rose 10% to Rs261.2 crore   SML Isuzu has announced an increase of 23.5% in net profit to Rs12.24 crore for the quarter ended June 2012. Net sales in the quarter ended June 2012 were Rs261.24 crore, up 10%.    The company will be...

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Moneylife Digital Team 14 August 2012
Reliance Power’s total revenues during the June quarter rose 82% to Rs1,252 crore      Reliance Power (R-Power) announced a 22% increase in net profit at Rs240 crore for the quarter ended June 2012 against Rs196 crore in the same quarter in the previous year.    The total...

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MDT/PTI 14 August 2012
In food articles category in July, potatoes turned expensive by 73%, rice by 10.12%, cereals by 8.29% and pulses by 28.26% on annual basis New Delhi: Inflation declined to 6.87% in July as the rate of price rise of the food articles category eased a little, although pressure remained on...

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MDT/PTI 14 August 2012
Reflecting slowdown in the Indian economy, imports too declined by 7.6% to $37.9 billion in July, leaving a trade deficit of $15.5 billion New Delhi: Hit hard by demand slowdown in the US and Europe, India's exports in July contracted 14.8% - steepest fall in three years - to $22.4...

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Moneylife Digital Team 14 August 2012
The sharp drop in exports and higher oil prices in India are offsetting the improvement in the country’s trade deficit, says Nomura Economic Research   Nomura Economic Research believes that India's balance of payments position is on a razor's edge. This is predominantly due to the...

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MDT/PTI 14 August 2012
Spread over 23 acres, the ‘New Cuffe Parade' project will entail an investment of around Rs10,000 crore from the Lodhas over the next five to seven years   Mumbai: L&T Construction on Tuesday said it has won a contract from Lodha Developers to construct the iconic residential project...

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MDT/PTI 14 August 2012
Suzlon Energy plunged as much as 9% to a record low in the morning trade due to its poor first quarter results Mumbai: Shares of wind turbine maker Suzlon Energy on Tuesday plunged as much as 9% to a record low as the company reported standalone net loss of Rs696.64 crore for the first...

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MDT/PTI 14 August 2012
Finance Ministry has asked Corporate Affairs Ministry to exempt ailing insurance and banking firms from the scope of Competition Act New Delhi: The Finance Ministry has asked Corporate Affairs Ministry to exempt ailing insurance and banking firms from the scope of Competition Act,...

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The country needs power urgently and in a large scale but if the indigenous equipment makers cannot meet the requirements, the government will have to relax the rules for greater imports   In the last few years, China has made great strides into the Indian electrical equipment market at...

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MDT/PTI 13 August 2012
  Lodha Developers would pay Rs1,200 crore to DLF and take over liabilities of around Rs1500 crore incurred by DLF unit Jwala at the NTC Mill property in Worli since 2005   New Delhi: In a big-ticket land deal, realty company DLF has sold 17 acres of prime land in Mumbai to Lodha...

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RBI has just come out with guidelines for issuance of “Payable at par/Multi-city” cheques to all eligible customers in a standard format. But the RBI should have thought of many other possibilities of offering a wide variety of services using CBS. Here is a list of benefits it could have...

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Moneylife Digital Team 13 August 2012
Poor returns, a weak government with no appetite for reforms have scared off many investors, including foreign investors from the stocks of PSUs. In the mid-90s, many savvy investors had met with the same fate and swore not to invest in government company stocks. This only shows how and why...

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MDT/PTI 13 August 2012
L&T's buildings and factories segment has secured orders worth Rs674 crore, while power transmission and distribution received orders of Rs607 crore during the two months   Mumbai: L&T Construction on Monday said it has received orders worth Rs2,008 crore across various business...

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MDT/PTI 13 August 2012
India Cements' total income, which also includes revenue from IPL franchise, Chennai Super Kings, rose to Rs1,205.03 crore from Rs1,061.19 crore during the June quarter   New Delhi: India Cements on Monday reported a 39% drop in net profit for the April-June quarter at Rs62.07 crore...

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