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Moneylife Digital Team 26 November 2010
State-owned telecom firm Bharat Sanchar Nigam Ltd (BSNL) recorded its first loss since inception, totalling over Rs1,800 crore in 2009-10. It garnered Rs18,427.18 crore in revenue during the financial year from landline and mobile services. BSNL received Rs8,885.67 crore in revenue during...

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Moneylife Digital Team 26 November 2010
Wind turbine maker Suzlon Energy Ltd said its subsidiary REpower Systems AG has signed a contract with Belgium's C-Power for delivery of 48 wind energy turbines. The contract with the Belgian offshore project company is for a total rated power of about 295 megawatts, REpower said in a...

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Moneylife Digital Team 26 November 2010
Auto giant Mahindra & Mahindra (M&M) Ltd said it has agreed to acquire 5.5% of IT firm Tech Mahindra's stake from UK-based British Telecommunications Plc (BT). UK’s largest fixed-line phone company BT holds 30% stake in Tech Mahindra. "Pursuant to a proposal received from BT, the company has...

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Moneylife Digital Team 26 November 2010
Tyre manufacturer MRF Ltd reported a 39% jump in its net profit at Rs353.98 crore for the year ended September 2010, over the corresponding period a year ago. For the year ended September 2009, the company had reported a net profit of Rs253.03 crore, the company said in a statement. The...

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Moneylife Digital Team 26 November 2010
The housing loan scam continued to haunt the market for the second day in a row. While the market opened firm, news reports about the developments saw the indices drifting lower in post-noon trade. The market opened with modest gains but slipped into the red as tainted stocks in the recent...

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Moneylife Digital Team 26 November 2010
New Delhi: Pune’s Lavasa Lake City has run into rough weather with the environment ministry slapping a show-cause notice on Lavasa Corporation for carrying out construction activities without its approval in 25,000 hectares, reports PTI. The ministry has given 15 days time to the Corporation...

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Moneylife Digital Team 26 November 2010
Principal MF unveils Smart Equity Fund; Religare MF launches Fixed Maturity Plan-Series IV-Plan D (13 Months); SBI Mutual Fund floats Debt Fund Series-18 Months Fund-4; One97 Communications to launch IPO on 1st December Principal MF unveils Smart Equity Fund Principal Mutual Fund has launched...

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Moneylife Digital Team 26 November 2010
New Delhi: The Supreme Court (SC) today allowed the request of British telecom giant Vodafone to deposit Rs2,500 crore, as directed by it earlier, through banking wire transfer instead of bank draft, reports PTI. The apex has court also postponed the date of hearing to 19 July 2011, from the...

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Munira Dongre 26 November 2010
Realty stocks have taken a huge beating. Some experts say, this may be the right time to pick up stocks with low debt. We hear FIIs may start buying. Stocks are sharply off their intraday lows The BSE's Realty Index is down 17% over a week; 31% over a month and 27% over a year at the time of...

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Moneylife Digital Team 26 November 2010
New Delhi: The Insurance Regulatory and Development Authority (IRDA) has imposed a fine of Rs5 lakh on Tata AIG Life Insurance for violation of regulatory guidelines, reports PTI. The company has been directed to pay a penalty of Rs5 lakh within 10 days for violating IRDA directions. Tata AIG...

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Moneylife Digital Team 26 November 2010
Mumbai: Market watchdog Securities and Exchange Board of India (SEBI) has initiated a probe into possible front-running and insider trading in shares of over two dozen companies, including some blue chips, by entities and persons involved in the housing finance scam unearthed by Central Bureau...

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Moneylife Digital Team 26 November 2010
Hyderabad: Compounding its woes, SKS Microfinance has now come under the Insurance Regulatory and Development Authority’s (IRDA) scanner for violating norms in selling insurance policies to its borrowers, reports PTI. Sources said the country's only listed microfinance company SKS...

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The Bimal Jalan committee on stock exchanges has delivered a set of ridiculous recommendations that is devoid of any vision. It does one thing well: shut out any new exchange and kill NSE's competitors  The Bimal Jalan Committee was appointed in February 2010 to deliberate on governance,...

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The report of the Jalan committee, packed with regulatory officials, is a throwback to the days of licence-control raj. The hidden agenda: put off new entrants and favour the current monopolist The Bimal Jalan committee set up to 'Review Ownership and Governance of Market Infrastructure...

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Moneylife Digital Team 26 November 2010
The local market is likely to witness a cautious opening on unimpressive cues from the Asian region and in the absence of triggers from the US markets, which were closed for the Thanksgiving Day holiday. The Asian pack was mostly lower in early trade today on reports that the South Korean...

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Moneylife Digital Team 25 November 2010
Rohtak (Haryana): India today ushered in Mobile Number Portability (MNP) that will allow cellphone users to switch operators without changing numbers, with telecom minister Kapil Sibal launching the service in Haryana, reports PTI. The rest of India would get to use MNP from 20th January,...

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Munira Dongre 25 November 2010
India Infoline, which arranged to transfer Rs446 crores from four hapless foreign institutional investors (FIIs) to Money Matters Financial Service, clearly did not do the due diligence on the company while pocketing fat fees Yesterday, Moneylife was the first to report that the Central...

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Moneylife Digital Team 25 November 2010
Private equity firms and foreign institutional investors attract a lot of admiration. Of late, several big boys from the institutional world have suffered heavy losses in their multi-million dollar investments A relatively obscure firm, Money Matters Financial Services, is now a household name...

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Moneylife Digital Team 25 November 2010
MIC Electronics Ltd said that it has signed a definitive agreement with the Uttar Pradesh New and Renewable Energy Development Agency for supplying LED solar street lighting systems worth Rs6.63 crore. The company won orders worth Rs5.87 crore from Indian Railways to supply a gamut of true...

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Moneylife Digital Team 25 November 2010
Larsen & Toubro (L&T) Ltd has said that its construction division has won orders worth Rs1,030 crore for the construction of commercial and residential buildings including metro depot facilities. It has won new orders worth Rs385crore for the construction of residential buildings from...

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