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Moneylife Digital Team 16 August 2010
KGN and its related companies are running what looks like a pyramid scheme through a multi-level marketing chain in Pune under different names, ensnaring gullible small investors One of the most common ways people lose their hard-earned money is by investing in pyramid schemes. These companies...

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Moneylife Digital Team 16 August 2010
New Delhi: The government has asked mobile operators to give self certificates stating that radiations emitted by their towers are not harmful for human health, else face penalty as per prescribed norms, reports PTI. The Department of Telecom (DoT) met operators last week and informed that any...

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Moneylife Digital Team 16 August 2010
Mumbai: The shipping ministry will award 25 port projects under the Public Private Partnership (PPP) scheme during the current financial year, reports PTI quoting a senior government official. The ministry is also expecting investments from Singapore, Dubai and other Gulf countries, he...

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Moneylife Digital Team 16 August 2010
New Delhi: The commerce and industry ministry has said today that it is not in favour of restricting iron ore exports even as the ministry of steel and the Karnataka government want curbs on the mineral shipments, reports PTI. "...If iron ore exports are restricted, it would effect economic...

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Munira Dongre 16 August 2010
Deccan Chronicle: Rumours of a stake sale are resurfacing. Mid-July, the stock charged on talk that the Gujarat-based Adani Group was going to acquire the company for $280 million-$300 million. Patni: There is talk of a stake-sale to Fujitsu or NTT. On Friday, the stock surged after it declared...

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Moneylife Digital Team 16 August 2010
Onshore integrated seismic service provider Alphageo (India) Ltd said it has set-up a subsidiary, Alphageo International Ltd at Dubai in the UAE. On Monday, Alphageo India shares closed 1.8% down to Rs163 on the Bombay Stock Exchange, while the Sensex ended 0.6% down to 18,050 points.

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Moneylife Digital Team 16 August 2010
NIIT Technologies Ltd said it appointed Pratibha Advani as its chief financial officer (CFO). She takes over the responsibility from Amit Roy, the interim CFO, said the company in a filing to Bombay Stock Exchange. On Monday, NIIT Technologies shares closed 0.3% up to Rs182 on the Bombay...

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Moneylife Digital Team 16 August 2010
Sadbhav Engineering Ltd said its joint venture with GKC Projects Ltd, received an order worth Rs229.9 crore from the Road Construction Department of Jharkhand. The scope of work includes development of Govindpur-Sahibganj state road project (Govindpur-Jamtara Contract Package No. I), said the...

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Moneylife Digital Team 16 August 2010
Vivimed Labs Ltd said its standalone net profit for the first quarter stood at Rs6.3 crore as compared to Rs4.7 crore for the same quarter last fiscal. In the June 2010 quarter, the company's total revenues increased to Rs54.3 crore from Rs48.5 crore, while its net sales rose to Rs54.3 crore...

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Moneylife Digital Team 16 August 2010
Confidence Petroleum India Ltd said its net profit for the first quarter stood at Rs10.5 crore as compared to Rs6.1 crore for the same quarter last fiscal. In the June 2010 quarter, the company's total turnover increased to Rs192.1 crore from Rs100.1 crore, while its net sales increased to...

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Moneylife Digital Team 16 August 2010
Government-owned Orissa Minerals Development Co Ltd said its net profit for the first quarter fell to Rs13.7 crore from Rs22.4 crore in the same quarter last year. During the June 2010 quarter, its total revenues declined to Rs32.7 crore from Rs48 crore, the company said in a filing to Bombay...

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Moneylife Digital Team 16 August 2010
Simplex Infrastructures Ltd said its standalone net profit for the first quarter rose 41% to Rs36.2 crore from Rs25.7 crore as its turnover grew 6% to Rs1,175 crore from Rs1,108 crore in the same quarter last year. The order book at the end of June 2010 is Rs12,262 crore, growing 22% over...

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Moneylife Digital Team 16 August 2010
Construction and engineering company Gammon India Ltd said its consolidated net profit for the financial year 2009-10 fell to Rs45.7 crore from Rs56.3 crore last fiscal, despite increased revenues. During the period, Gammon India's total revenues increased to Rs7,069.9 crore as against...

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Moneylife Digital Team 16 August 2010
Geodesic Ltd, content provider for communication and collaboration solutions, said its net profit for the first quarter increased 34% to Rs79.1 crore compared to Rs59 crore in the corresponding quarter last year. Its total revenues for the first quarter increased 22% to Rs199 crore from...

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Moneylife Digital Team 16 August 2010
New Delhi: More than half of the Eleventh Plan target of 9,000 MW wind power installation has already been achieved, reports PTI quoting new and renewable energy minister Farooq Abdullah. 5035 MW has already achieved and the balance would be done during the remaining period of the Five Year...

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Moneylife Digital Team 16 August 2010
New Delhi: The government today cleared a proposal for setting up a commission in an effort to check illegal mining and it has been asked to submit its report within 18 months, reports PTI. The decision follows several meetings that the Prime Minister's Office (PMO) has held with senior mines...

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Moneylife Digital Team 16 August 2010
New Delhi: London-listed mining firm Vedanta Resources will acquire a majority stake of up to 60% in Cairn India, the owner of nation's largest onland oilfield, for $9.6 billion, reports PTI. Edinburgh-based Cairn Energy Plc, which holds 62.37% stake in Cairn India, will sell a maximum of 51%...

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Moneylife Digital Team 16 August 2010
New Delhi: The government today raised the price of ethanol for blending with fuel at Rs27 per litre from existing Rs21.50 per litre. "The Cabinet Committee on Economic Affairs (CCEA) has approved the hike in price of ethanol to Rs27 per litre from existing price of Rs21.50 per litre for 5%...

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Moneylife Digital Team 16 August 2010
New Delhi: State Bank of India (SBI), the country's largest lender, today raised benchmark lending rate (BPLR) by 50 basis points (bps) to 12.25%, making home, vehicle and other corporate loans linked with the rate costlier to existing borrowers, reports PTI. However, for new borrowers the base...

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Moneylife Digital Team 14 August 2010
The market started the week with modest gains despite a high degree of volatility. Selling pressure ahead of the US Federal Open Market Committee (FOMC) meeting resulted in a flat closing for the domestic market with a negative bias on Tuesday. Assertion by the Federal Reserve that it would take...

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