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Moneylife Digital Team 20 October 2010
Financial services firm Religare Enterprises Ltd today reported a consolidated net loss of Rs24.2 crore in the second quarter of the current fiscal, mainly on account of investments in its subsidiaries. The company had a net profit of Rs29.7 crore during the July-September quarter of the last...

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Moneylife Digital Team 20 October 2010
Wind turbines major Suzlon Energy Ltd said it has awarded a five-year contract to global IT company IBM for an undisclosed amount. IBM will provide business consulting services to Suzlon and manage its application development and maintenance requirements. The partnership is expected to help...

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Moneylife Digital Team 20 October 2010
IT firm HCL Technologies Ltd, today reported a 3.1% growth in consolidated net profit at Rs331.1 crore for its first quarter ending 30 September 2010, despite rising wage bill. The company said there was growth in all business verticals, and it also narrowed forex losses during first quarter...

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Moneylife Digital Team 20 October 2010
IndusInd Bank Ltd said it has signed a memorandum of understanding (MoU) with National Collateral Management Services Ltd for collateral management and warehousing services. No financial details were provided. NCMSL has been providing collateral management services to banks. These services...

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Moneylife Digital Team 20 October 2010
Everonn Education Ltd said its subsidiary Everonn Skill Development Ltd has signed a memorandum of understanding (MoU) with Future Human Development Ltd (FHDL) to jointly deliver retail programs across the country. FHDL is the HR arm of retail brand the Future Group.   The training programs, to...

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Moneylife Digital Team 20 October 2010
New Delhi: The government may consider infusing further equity of Rs2,000 crore in cash-starved Air India, after it is expected to grant the state-owned airline Rs1,200 crore by next month, reports PTI. "We can look at pumping another Rs2,000 crore later," civil aviation minister Praful Patel...

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Moneylife Digital Team 20 October 2010
Volatile trading continued to be the highlight for the third consecutive day. Sluggish global cues added to the woes, pulling the market down for the second day in a row. The market picked up momentum after a soft start this morning on the back of tardy global cues. The indices stepped into the...

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Munira Dongre 20 October 2010
Sesa lowers volume estimates; HDFC Bank retail loan growth very strong SESA GOA Q2 Net sales: Rs9.07 billion (expected range Rs6 billion-Rs10.2 billion) Net profit: Rs3.88 billion (expected range Rs2.6 billion-Rs4.8 billion) Highlights:  Realisations at $76/tonne were much lower...

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Moneylife Digital Team 20 October 2010
ICICI Bank launches NRI remittance service; L&T offers tax saving infrastructure bonds; Axis MF launches Axis Gold ETF; Birla Sun Life MF floats Birla Sun Life Short Term FMP-Series 1; SBI Mutual Fund unveils SBI Debt Fund Series-90 Days-35; LIC premium income rises more than Rs1,000 crore from two...

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Moneylife Digital Team 20 October 2010
New Delhi: Street vendors will now enjoy the benefits of cashless-based health insurance scheme, the proposal for which was approved by the government today, reports PTI. The insurance scheme under the Rashtriya Swasthya Bima Yojana (RSBY) presently covers below poverty line (BPL) families...

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Moneylife Digital Team 20 October 2010
New Delhi: The government today announced a marginal hike of Rs20 a quintal in the support price of wheat to Rs1,120, but prices of masoor and gram dals have been raised sharply by up to Rs380 a quintal to encourage farmers to grow more, reports PTI. The Cabinet Committee on Economic Affairs...

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Moneylife Digital Team 20 October 2010
Mumbai: The country's largest lender State Bank of India (SBI) today increased its base rate or the minimum lending rate for the new borrowers by 10 basis points (bps) to 7.6%, a move that would make all kinds of advances, including corporate loans, costlier, reports PTI. The bank has revised...

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Moneylife Digital Team 20 October 2010
Mumbai: Amid growing criticism over the use of coercive methods of microfinance institutions (MFIs) to recover loans, the Reserve Bank of India (RBI) on Tuesday said its sub-panel will look into the functioning of such lenders and submit its report in three months, reports PTI. "The...

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Munira Dongre 20 October 2010
L&T execution picks up; HDFC disbursements healthy LARSEN & TOUBRO Q2 Net sales: Rs93.4 billion (expected range Rs84.9 billion-Rs95.6 billion) Net profit: Rs6.94 billion (expected range Rs6.2 billion-Rs8.1 billion) Highlights: Sales were at the higher end of the expected range and...

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Moneylife Digital Team 20 October 2010
Global cues point out to a cautious opening for the local market today. Markets in the US ended with losses of around 1.5% on concerns that banks will have to buy back bad mortgages and on the sudden increase in interest rates announced by China yesterday. Markets in Asia were wary that the...

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Moneylife Digital Team 19 October 2010
New Delhi: The public offerings of three blue-chip navratna companies - Steel Authority of India (SAIL), Indian Oil Corporation (IOC) and Oil and Natural Gas Corporation (ONGC) - will hit Dalal Street in the first quarter of next year, reports PTI quoting a top government official. "During the...

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Moneylife Digital Team 19 October 2010
New Delhi: Coal India Ltd's (CIL) Rs15,000-crore mega initial public offer, the country's largest so far, got demands for 1.57 times of shares on offer hours before closure of the second day of the issue today. The issue attracted bids for 99.11 crore shares against 63.1 crore equities on...

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Moneylife Digital Team 19 October 2010
New Delhi: Led by Bharti Airtel, India Inc's outbound mergers and acquisition (M&A) deals tally rose to $20.76 billion in the first six months of the current fiscal from a meagre $527.8 million in the previous year, reports PTI quoting a study. "The rise in outbound deals provides clear...

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Moneylife Digital Team 19 October 2010
Fifteen of the 21 balanced funds available in the market have beaten the benchmark in the period since April 2002 When it comes to investing, experts keep harping on one very important facet - asset allocation. Simply put, it means deciding how much money goes into which assets, in such a way...

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Moneylife Digital Team 19 October 2010
New Delhi: The government today said it will take on board the concerns of the finance ministry and the Reserve Bank of India (RBI) before giving powers to competition watchdog Competition Commission of India (CCI) for vetting mergers of banks, reports PTI. The RBI has been seeking exemption of...

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