COMPANIES & SECTORS


Moneylife Digital Team 21 April 2014
Workers on rolls of all mining firms will be paid 50% of the wage during the period for which they were out of work due to the stay on mining activity by the apex court The Supreme Court on Monday while setting an annual cap of 20 million tonnes (mt) per annum allowed Goa to extract iron...

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Moneylife Digital Team 21 April 2014
While sovereign wealth funds from Abu Dhabi, Qatar and Malaysia may pick up 74% interest in the hived-off entities for about Rs1,850 crore, Leelaventure will retain 26% stake Hotel Leelaventure Ltd is in talks with sovereign wealth funds from Abu Dhabi, Qatar and Malaysia to sell its...

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Sugar exporters are reluctant to continue to export due to delay in getting the export subsidy of Rs3,333 per tonne. In fact, there are unconfirmed reports that some exporters, who have taken delivery, have diverted the goods to domestic market The sugar industry is at cross-roads today....

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Moneylife Digital Team 18 April 2014
A day after its launch in New Delhi, Reliance Industries Limited (RIL) has served a notice on the authors of "Gas Wars - Crony Capitalism and the Ambanis" as well as his co authors and distributors and even an individual from a media foundation who sent out invites to the launch function.

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Moneylife Digital Team 17 April 2014
For FY14, Wipro reported 17% higher net profit on better margins in its IT services business Wipro Ltd, India's third largest IT company, in FY14 posted 17% higher  consolidated net profit of Rs7,797 crore from Rs6,639 crore, its total revenues grew 16% to Rs43,755 crore from Rs37,685...

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Cairn India is positive that its gas find would be commercially viable and that they would be able to supply piped gas to the Gujarat market by laying an additional pipeline In the eighth round  of NELP (New Exploration Licensing Policy) Cairn India won 1988 sqkm block in 2010...

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Moneylife Digital Team 17 April 2014
Piramal Enterprises to acquire 20% stake in Shriram Capital for Rs2,014 crore Piramal Enterprises Ltd. (Piramal) today announced that it will acquire 20% equity stake in Shriram Capital Ltd (Shriram Capital), a financial service company for Rs2,014 crore to enhance its presence in the...

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Moneylife Digital Team 17 April 2014
During FY14, TCS profitability grew 37.7%, helped by growth in European markets and investments in digital technologies Tata Consultancy Services (TCS), India's largest IT company, in FY14 posted 37.7% higher net profit despite the fact that its revenues grew 29.9% due to growth in its...

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Moneylife Digital Team 16 April 2014
In an unusual plea, Prithvi Catalytic, one of the subsidiaries of crisis-hit Prithvi Info Solutions, sought to alienate itself by changing name Prithvi Information Solutions Ltd and its founders Madhavi Vuppalapati and her brother Satish Vuppalapati are trying every trick from the book...

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Moneylife Digital Team 16 April 2014
After going through the flying records of GMR Aviation, the DGCA found evidence of 'false' pre-flight medical checks of pilots and cabin crew Swinging into action the Directorate General of Civil Aviation (DGCA) on Wednesday grounded 11 pilots of GMR Aviation for failing to carry out...

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India must try and play the important role of being the intermediary between Iran and the US in forging some kind of business alliance, particularly in areas like petroleum industry Since 2012, India has been paying for Iranian oil imports both in rupees and Euros, by a special...

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Moneylife Digital Team 15 April 2014
For FY14, Infosys reported a 13% increase net profit to Rs10,648 crore even as its revenues grew 24.2% to Rs50,133 crore. The company declared a final dividend of Rs43 per share Infosys Ltd, India's second largest software company reported a 25% jump in its fourth quarter net profit on...

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Moneylife Digital Team 15 April 2014
The US Bankruptcy Court has ordered examination of Madhavi Vuppalapati, founder of the once high flying Prithvi Info Solutions, saying, as President and CEO, she is certainly a person with knowledge of the company’s financial condition A Bankruptcy Court in the US has directed Madhavi...

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Moneylife Digital Team 14 April 2014
During FY14, Indag Rubber posted a net profit of Rs27.54 crore despite its flat sales. The company declared a final dividend of 65% or Rs6.5 per share Indag Rubber Ltd reported a 10.3% higher net profit during the 12 months that ended on 31 March 2014. The tyre retreading and...

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Moneylife Digital Team 14 April 2014
While FIIs are increasing their shareholding in Infosys, domestic institutional investors including LIC, are reducing their stake in the country's second largest IT company State-run Life Insurance Corporation of India (LIC) sold 0.46% of its stake in Infosys Ltd for about Rs850 crore...

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Moneylife Digital Team 12 April 2014
Financial Technologies is shortlisting bidders for selling its 24% stake in Multi-Commodity Exchange-MCX, following directions from FMC Jignesh Shah-led Financial Technologies (India) Ltd (FTIL) on Saturday said it received non-binding bids from nine top corporates for buying its 24%...

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Moneylife Digital Team 11 April 2014
Birla Power Solutions has submitted a proposal to Bombay High Court offering to repay money to its creditors of past eight years. However the Yash Birla group company will not pay interest to its fixed deposit holders The debt-ridden Yash Birla Group unit Birla Power Solutions Ltd (BPSL)...

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Moneylife Digital Team 11 April 2014
Nomura is optimistic on HCL, TCS, Tech Mahindra Global Outsourcing ACV of $5.7bn was up by 14% on year-on-year (y-o-y) basis, according to a Nomura Report. The IT sector also reported a better y-o-y traction of Europe, Middle East and Africa (EMEA) and Asia Pacific (APAC), while USA...

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Moneylife Digital Team 11 April 2014
Maruti Suzuki is recalling over 1 lakh units of Swift, DZire and Ertiga for replacing a faulty fuel filler neck that may cause fuel smell and leakages Maruti Suzuki India Ltd (MSIL), the country's largest car maker on Friday said it will replace the ‘fuel filler neck’ of 1.03 lakh units...

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Moneylife Digital Team 11 April 2014
Nomura Research expects a stable earnings performance of the consumer sector and the volume growth to remain subdued in the first half. It is bearish on Hindustan Unilever, Colgate Palmolive and Jubilant Foodworks, while it remains optimistic about ITC and Godrej Consumer. Nomura...

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