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Moneylife Digital Team 11 January 2011
New Delhi: Domestic passenger car sales jumped by 28.91% to 1,48,681 units in December 2010, compared to 1,15,337 units in the same month in 2009, reports PTI. According to the figures released by the Society of Indian Automobile Manufacturers (SIAM), motorcycle sales in the country grew by...

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Moneylife Digital Team 11 January 2011
Mumbai: Patni Computer Systems today said that the US-based IT firm iGate has made an open offer for the 20.6% stake in the company, in accordance with the requirements of the market regulator Securities and Exchange Board of India (SEBI), reports PTI. Yesterday, after several rounds of...

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Moneylife Digital Team 11 January 2011
The local market is likely to witness a soft-to-flat opening today on mixed global cues, concerns about domestic quarterly earnings reports and inflationary pressures that may force the Reserve Bank of India to hike interest rates later this month. Wall Street closed mixed on Monday, recovering...

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Moneylife Digital Team 10 January 2011
Islamabad: The Pakistan government today appeared divided over resuming onion exports to India. While the agriculture ministry of that country is not averse to lifting the ban, the commerce ministry has some reservations, reports PTI. A meeting was held in the commerce ministry on the issue...

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Moneylife Digital Team 10 January 2011
Global woes and a huge sell-off by institutional investors plunged the key benchmarks sharply lower for a second day today, as the market fell for the fifth day in a row As suggested in our weekly report, the market continued to decline today. In fact, the market indices crashed heavily once...

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Moneylife Digital Team 10 January 2011
New Delhi: Anil Ambani-led Reliance Power is believed to have signed the power purchase agreement with the state-owned NTPC for its upcoming 100MW solar power project at Jaisalmer in Rajasthan, reports PTI. Reliance Power signed the power purchase agreement with NTPC Vidyut Vypar Nigam...

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Moneylife Digital Team 10 January 2011
New Delhi: If exports maintain an annual growth trend of 25%, Indian exports can cross $500 billion by 2014-15 from $220 billion expected in the current fiscal, reports PTI quoting the Federation of Indian Export Organisations (FIEO). India's apex exporters body Federation of Indian Export...

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Is there too much of optimism in the air? The year has opened well for the bulls. The Dow was up 100 points on the first trading day and the Indian markets have continued to rally since 10th December. The US bulls believe that they have a lot going for them: extended tax cuts and Fed chairman...

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Moneylife Digital Team 10 January 2011
Artson Engineering Ltd said it has won a contract worth around Rs32 crore from Cairn Energy India Pty Ltd for Bhagyam Field Development Project in Barmer, Rajasthan on-shore oil fields. The project consists of all mechanical works and piping for eight wellpads. The project is expected to be...

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Moneylife Digital Team 10 January 2011
Indraprastha Gas Ltd said its net profit stood at Rs67.19 crore, up 14.02% for the December 2010 quarter compared to Rs58.93 crore in the corresponding period last year. The company's net revenues jumped 59.76% to Rs454.70 crore in the December 2010 quarter from Rs284.61 crore, said the...

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Moneylife Digital Team 10 January 2011
Pune-based Sterlite Technologies Ltd said it has arranged Rs700 crore worth of funds for its mega transmission project connecting North-east with the Northern states India. The ultra mega power transmission project (UMTP) was won by East North Interconnection Company Ltd (ENICL), a...

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Moneylife Digital Team 10 January 2011
Birla Sun Life MF launches Capital Protection Oriented Fund-Series 3; BNP Paribas MF introduces Fixed Term Fund-Series 19 F; Fidelity MF floats Fidelity Fixed Maturity Plan Series IV-Plan F; IDFC Mutual Fund launches Fixed Maturity Plan-Thirty-Six Months Series 2; Kotak Mahindra MF floats 370 days...

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Moneylife Digital Team 10 January 2011
New Delhi: India's import of sensitive items, including pulses, vegetables and automobiles have risen by 14.1% to Rs40,499 crore during the April-October period of the current fiscal, reports PTI. The country had imported such items worth Rs35,487 crore in the same period of last fiscal,...

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Moneylife Digital Team 10 January 2011
New Delhi: In a move that could further push up onion prices, traders in Nashik and adjoining areas today went on two-day strike against income tax raids and disrupted supply to contracting traders from other states who are being forced to sell the vegetable at "below the cost price", reports...

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Moneylife Digital Team 10 January 2011
Bangalore: US-based iGate-led consortium today clinched a deal to buy nearly 63% stake in India's sixth largest IT firm Patni Computer for about $921 million (Rs4,188 crore) after several rounds of negotiations, reports PTI. "iGate subsidiaries will pay Rs503.50 per share for buying 63% stake...

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Moneylife Digital Team 10 January 2011
New Delhi: The Supreme Court on Monday issued notice to the Centre on the plea seeking cancellation of second generation (2G) spectrum licenses allocated during the tenure of former telecom minister A Raja, reports PTI. The apex court also issued notices to 11 companies which allegedly did...

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Economic growth requires more investment in infrastructure. But while more and more people buy more and more vehicles, governments are not spending enough to build or manage the transport system, simply because there are less opportunities in it for corruption All investors love growth for...

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Munira Dongre 10 January 2011
The brokerage suggests that telecom, cement and PSU oil & gas firms should see a decline in profits compared to the second quarter. Going ahead, seasonality, strong commodity prices and interest costs will hurt CLSA, an independent investment and brokerage institution, expects Sensex earnings...

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Moneylife Digital Team 08 January 2011
Jindal Poly Films Ltd's subsidiary Jindal Resources (Mozambique) Limitada has participated in the tenders issued by Ministry of Mineral Resources, Government of Mozambique for auction of coal blocks for geological prospecting and exploration of coal in Mozambique. The company has been...

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Moneylife Digital Team 08 January 2011
New Delhi: Wholesale prices of onion today declined by Rs3 to Rs40 per kg in Delhi due to increased arrival from key growing states, reports PTI. “Arrival of onions are increasing from Maharashtra, Gujarat, Madhya Pradesh and Rajasthan. As a result, prices have come down by Rs3 per kg from...

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