ECONOMY & NATION


Moneylife Digital Team 15 May 2014
ONGC has alleged that at least three wells drilled by RIL on the boundary of KG-D6 block in Bay of Bengal are within few hundred metres of its gas fields The Delhi High Court on Thursday issued notices to the union government, Directorate General of Hydrocarbon (DGH) and Reliance...

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Moneylife Digital Team 15 May 2014
Strong IT headcount addition (6% quarter-on-quarter) in Tech Mahindra to sustain growth in revenues and new opportunities, points out Nomura in its research note Mahindra & Mahindra (M&M) group company Tech Mahindra would find its stock performance driven by revenue growth and...

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Moneylife Digital Team 15 May 2014
Continued sustenance of strong realisations in the domestic business and improving demand outlook for international business shall provide further positive triggers for Tata Steel, says Nomura Tata Steel reported improvement in its March quarter results that was led by its domestic...

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The Nayak Panel report is yet another opportunity for the Indian government to dispose of its holdings on state-run banks and make them practically free of its control. This is also a golden opportunity for RBI to consider if applicants for the new bank licence can be offered first direct...

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Moneylife Digital Team 15 May 2014
Counting of votes will take place on Friday at 8am, which would decide the fate of nearly 8,000 candidates from 543 constituencies. By 11am trends would be available for the next Lok Sabha Votes polled in the nine-phased Lok Sabha elections will be counted on Friday to decide who will...

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Moneylife Digital Team 15 May 2014
For the March quarter, the Bajaj group financial unit reported a net profit of Rs182 crore, as its net interest income grew 25%   Bajaj Finance Ltd reported a higher fourth quarter net profit mainly on robust revenues, including interest income.    For the quarter to end-March,...

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Present case in Maharashtra where voter's name were deleted is not as genuine as it is being made out to be. This shows mistrust on citizens and totally absolves the district election officer or election registrations officers who have acted irresponsibly. This should call for citizen...

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Moneylife Digital Team 14 May 2014
Geodesic recently held its annual general meeting. Shockingly, the shareholders found a dozen bouncers at the AGM Geodesic Ltd, the internet software and service provider, which has run up more than Rs1,200 crore of liabilities, defaulted in repaying its foreign currency convertible bond...

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Moneylife Digital Team 14 May 2014
China’s 'Big Four' banks, which include ICBC, have long been criticised for high charges, poor service and their reluctance to lend to private companies A Chinese brokerage has fined its chairman two months pay — nearly one million yuan ($161,000) — after he publicly blasted the...

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Moneylife Digital Team 14 May 2014
Last week's book launch of former CEC Dr SY Quraishi witnessed a volley of questions, arguments about the working of the Election Commission. HDFC chief Deepak Parekh and Social activist Medha Patkar, who contested the elections from Mumbai North East for AAP, raised several issues at the...

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Moneylife Digital Team 14 May 2014
For FY14, La Opala reported a higher net profit at Rs29.95 crore on robust sales and lower raw material costs. Its shares hits a 52-week high  La Opala RG Ltd (La Opala), the Kolkata-based opal glass tableware manufacturer, hit a new 52-week high on Wednesday following a jump in the...

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Moneylife Digital Team 14 May 2014
For the March quarter, Nestle India reported lower net profit of Rs259 crore due to higher costs, lower demand and exports Nestle India Ltd (Nestle) reported a lower first quarter net profit mainly on higher raw material costs, subdued demand and lower exports. For the quarter to...

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Moneylife Digital Team 14 May 2014
For FY14,  Bank of Baroda reported marginal increase in its net profit at Rs4,541 crore affected by higher expenses and tax provisions Bank of Baroda (BOB), the public sector lender reported a marginal increase in its full year net profit even as its expenses and tax provisions...

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Moneylife Digital Team 13 May 2014
The social media was abuzz on Tuesday following reports of trademark violation in the TimesNow-ORG exit polls. In fact, the name 'ORG' used in this survey belongs to and is trademark of Operations Research Group (ORG) Pvt Ltd. On the other hand, the Times of India group channel clarified that...

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Moneylife Digital Team 13 May 2014
If NDA gets between 240-271, the markets would be disappointed, if it gets between 271-292 it would be broadly neutral to positive for markets and if NDA gets more than 291, then it would be seen as  significantly positive by markets Exit polls released by several media predict a clear...

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Moneylife Digital Team 13 May 2014
Frauds are increasing due to collective failure of the regulatory oversight mechanisms like statutory auditors, independent directors, the board, the shareholders and other regulators, says CBI director Sinha The Central Bureau of Investigation (CBI) has blamed 'collective failure' of...

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Moneylife Digital Team 13 May 2014
According to the CAG, industries vulnerable to abuses of capitalism based on rent seeking, include banking, mines, telecom spectrum, utilities, oil and gas and public infrastructure Regretting that economic progress has thrown up a class of 'rent seekers', Comptroller and Auditor General...

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Moneylife Digital Team 13 May 2014
For the March Quarter, Castrol India reported a lower net profit due to subdued demand and higher costs Castrol India Ltd, (Castrol) the manufacturer of automotive and industrial lubricants, reported a lower first quarter net profit mainly on subdued demand and higher costs.   For...

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But there is no sign of investors getting their money back It was the least known entity in the entire MCX group which saw meteoric growth over the past decade. Yet, on 8th May, it was the National Spot Exchange Limited (NSEL) and its Rs5,600-crore scam that probably drove the final nail...

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The full cost of the Southern industrial corridor is estimated to be between Rs10,000 crore and Rs12,000 crore and would be shared by stakeholders The Japanese International Cooperation Agency (JICA), in consultation with the Department of Industrial Policy and Promotion (DIPP), have...

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