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Moneylife Digital Team 10 June 2010
National Fertilizers Ltd (NFL) has appointed Rajesh Aggarwal as the director (technical) of the company. Before this, he was functioning as executive director, Rashtriya Chemicals & Fertilizers Ltd (RCF) at Thal unit in Alibag, Maharashtra. Mr Aggarwal has vast experience in operations of...

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Moneylife Digital Team 10 June 2010
Mumbai-based Larsen & Toubro's (L&T) Metallurgical, Material Handling & Water Operating Company, part of its construction division, has secured orders aggregating Rs747 crore from Coal India Ltd, Indiabulls Power Ltd and Hindalco Industries Ltd. In material handling sector, L&T has secured a...

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Moneylife Digital Team 10 June 2010
Gurgaon-based Ranbaxy Laboratories Ltd has launched a generic version of Prasugrel in India. The product called Prasita is an antiplatelet agent for prevention of atherothrombotic events in patients with acute coronary syndrome undergoing percutaneous coronary intervention. Prasita is solely...

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Moneylife Digital Team 10 June 2010
The Chennai-based generic pharma major, Orchid Chemicals & Pharmaceuticals Ltd has entered an agreement to acquire Karalex Pharma, a US-based generic marketing and sales service company, through an all-cash deal for an undisclosed amount. The transaction is expected to close by this month...

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The holy cows of our corporate world do not want the proposed minimum 25% public float norms to be enacted. Further, can the market absorb the additional shareholding, if the law is ever passed? In the 1990s, finance ministry mandarins proudly declared that they didn't understand capital...

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Pallabika Ganguly 10 June 2010
The funds will be utilised to reduce debt IL&FS Milestone Fund has bought 74% stake in Hindustan Construction Co Ltd's (HCC) '247 Park' project for Rs575crore. The deal was signed on Wednesday. HCC has already received Rs121crore as token amount when signing the deal. The property is...

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Moneylife Digital Team 10 June 2010
Brokerage firm India Infoline has flashed the ‘Chinese wall’ concept to explain its contrasting calls on the same scrip on the same day. But is it credible? Moneylife had earlier reported on how India Infoline had come out with two different reports on Punj Lloyd Ltd exactly on the same day but...

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Moneylife Digital Team 09 June 2010
As mentioned earlier, the market is making a laboured attempt to rally The market was volatile with trading being range bound. The Sensex ended at 16,657, higher by 41 points (0.2%) and the Nifty ended at 5,000, higher by 13 points (0.2%). The benchmarks were up in the early trading session....

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Moneylife Digital Team 09 June 2010
For the first time in many months, equity mutual funds have recorded net inflows After months of recording outflows, equity funds recorded net inflows to the tune of Rs1,256 crore in May 2010. In April 2010, equity redemption had reached Rs1,133 crore. In May 2010, income funds recorded...

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Pallabika Ganguly 09 June 2010
The Maharashtra government had ruled in August 2006 that developers have no right to charge transfer charges on a flat till a cooperative society is formed. However, this notification is being openly flouted The housing department of the Maharashtra government had passed an opinion in August...

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Amritha Pillay 09 June 2010
The Nikhil Gandhi-promoted entity has planned investments of around Rs5,000 crore in the logistics segment in the next five years SKIL Infrastructure Ltd (SKIL Infra), which plans to come out with a public issue soon, is looking at investments of up to Rs5,000 crore in the logistics segment in...

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Moneylife Digital Team 09 June 2010
Occupancy rates are going up, but average revenues per room seem to be witnessing a fall Declining room rates have been a concern for hoteliers across the country. Though occupancy rates are going up, this is not having a direct impact on the average revenues per room in the major metros and...

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Moneylife Digital Team 09 June 2010
Mold-Tek Packaging Ltd has received orders from Berger Paints India Ltd for supply of packaging pails. With this company expects additional annual sales of around Rs25 crore from Berger Paints India Ltd. Mold-Tek, formerly Mold-Tek Plastics Ltd, is the manufacturer of plastic packaging...

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Moneylife Digital Team 09 June 2010
Hyderabad-based MIC Electronics has won an order for supply of light-emitting diode (LED) screens for Commonwealth Games 2010, which are to be held from 3rd October to 14th October at New Delhi. The company was awarded the contract by Pico, one of the world's major marketing service providers,...

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Moneylife Digital Team 09 June 2010
Bhubaneswar-based ARSS Infrastructure Projects Ltd has received an order from RITES Ltd, Nagpur worth Rs114.49 crore. The company is engaged in the business of construction activities in India. It undertakes construction of railway infrastructure, roads, highways, bridges and irrigation...

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Moneylife Digital Team 09 June 2010
Aurionpro Solutions Ltd, through its wholly owned subsidiary E2E Infotech Ltd, has entered a global partner agreement with CameronTec. Headquartered in Mumbai, Aurionpro Solutions is a leading banking products and services company and CameronTec is the financial industry's leading provider...

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Moneylife Digital Team 09 June 2010
The insurance regulator says that commissions will facilitate the smooth distribution of insurance The Insurance Regulatory and Development Authority (IRDA) chairman, J Hari Narayan, has come out in support of insurance agents and the commission given to them as he feels that it would bring...

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Moneylife Digital Team 08 June 2010
The market ended lower, taking cues from European markets. The Sensex settled at 16,617, down 163 points (1%) while the Nifty ended at 4,987, down 47 points (1%). The indices were range-bound in the positive zone in the morning session.   However, a sell-off was triggered in the afternoon...

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Moneylife Digital Team 08 June 2010
Consolidated Construction Consortium Ltd (CCCL) said it won the Goa Airport project worth Rs200 crore from Airport Authority of India (AAI). The scope of work includes construction of the new integrated terminal building at Civil Enclave, Goa. On Tuesday, CCCL shares ended 5.4% up at Rs83...

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Moneylife Digital Team 08 June 2010
Tata Steel Ltd said its subsidiary Tata Steel Global Mineral Holdings has increased its stake to 27.4% from 19.9% in Canada's iron ore explorer New Millennium Capital Corp. After increasing its stake in New Millennium Capital, Tata Steel is planning to expedite the direct shipping ore (DSO)...

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