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Moneylife Digital Team 04 May 2011
For the entire fiscal 2010-11, Hero Honda’s net profit went down by 13.62% to Rs1,927.90 crore from Rs2,231.83 crore in FY09-10 New Delhi: Hero Honda, India’s largest two-wheeler maker today reported a 16.23% decline in its net profit for the quarter ended 31 March 2011 to Rs501.61 crore,...

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Moneylife Digital Team 04 May 2011
Shri Lakshmi Cotsyn total income rose to Rs442.99 crore for the quarter ended March 2011, compared to Rs389.10 crore in the same period last fiscal Textiles firm Shri Lakshmi Cotsyn said its net profit rose by 9.05% to Rs27.70 crore for the quarter ended 31 March 2011, over the same period...

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Moneylife Digital Team 04 May 2011
HDFC Life’s key financial highlights (2010-11) included robust growth of 29% in total premium income to Rs9,004 crore from Rs7,005 crore in 2009-10 HDFC Life, one of India's leading private life insurance companies, registered highest growth of 26% in individual new business (regular and...

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Moneylife Digital Team 04 May 2011
Reliance General reported a market share of 4.13% in February 2011 The premium collection of Reliance General Insurance increased by 2.32% to Rs140.60 crore in February 2011, from Rs137.41 crore in the corresponding month last year. The first year premium collection of Reliance General has...

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Moneylife Digital Team 04 May 2011
The duration of the project is six years, involving a total cost of Rs28.02 crore The Insurance Regulatory and Development Authority (IRDA) said it has selected L&T Infotech for implementation of a project aimed at providing data and information for analysing insurance companies and regulatory...

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Moneylife Digital Team 04 May 2011
Tata Mutual Fund new issue closes on 5th May Tata Mutual Fund has launched Tata Fixed Maturity Plan Series 33 Scheme A (92 days maturity), a close-ended income scheme. The investment objective of the schemes is to generate income and/or capital appreciation by investing in wide range of debt...

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Moneylife Digital Team 04 May 2011
Reliance Mutual Fund new issue closes on 5th May Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XIX-Series 4, a close-ended income scheme. The investment objective of the scheme is to generate regular returns and growth of capital by investing in a diversified portfolio of...

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Moneylife Digital Team 04 May 2011
IDFC Mutual Fund new issue closes on 5th May IDFC Mutual Fund has launched IDFC Fixed Maturity Plan-200 Days Series 1, a close-ended income scheme. The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or...

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Moneylife Digital Team 04 May 2011
Birla Sun Life Mutual Fund new issue closes on 11th May Birla Sun Life Mutual Fund has launched Birla Sun Life Fixed Term Plan-Series DA, a close-ended income scheme. The scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration...

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Moneylife Digital Team 04 May 2011
Private sector Yes Bank raised its base rate and benchmark prime lending rate by 0.5% to 9.50% and 19%, respectively A day after the Reserve Bank of India (RBI) hiked its key short-term lending and borrowing rates by 0.5% each, private sector Yes Bank on Wednesday raised its base rate and...

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Moneylife Digital Team 04 May 2011
Punjab National Bank’s total income rose 31.2% to Rs8,586 crore in the March 2011 quarter compared to Rs6,460.7 crore in the same period last year The country's second largest public sector lender Punjab National Bank (PNB) today posted a 5.8% increase in net profit at Rs1,201 crore for the...

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Moneylife Digital Team 04 May 2011
Sun Pharmaceutical subsidiary—Sun Pharma Advanced Research Company—has received abbreviated new drug approval from US Food and Drug Administration for Docefrez Sun Pharmaceutical Industries today said its unit has received US health regulator's approval for generic docetaxel injection, used...

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Moneylife Digital Team 04 May 2011
For all home loans sourced by IndusInd Bank, the processing, disbursement and servicing functions will rest with HDFC IndusInd Bank (IBL) has signed a memorandum of understanding (MoU) with HDFC. According to the tie-up, IBL's nation-wide branch offices spread across the country will source...

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Moneylife Digital Team 04 May 2011
Jet acquired Sahara Airlines in April 2007 for Rs1,450 crore after an arbitration award. It paid Rs900 crore and agreed to pay the balance in four instalments Mumbai: The Bombay High Court today asked Jet Airways to pay Sahara India Rs478 crore within two weeks on account of default in its...

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Moneylife Digital Team 04 May 2011
The pilots, who struck work from midnight last Tuesday, have been demanding pay parity with their colleagues of erstwhile Air India, better working conditions and CBI inquiry into alleged withdrawal of flights from profitable routes, aircraft purchase and other issues Mumbai: Air India (AI)...

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Moneylife Digital Team 04 May 2011
Wall Street closed mixed on Tuesday on fears of lower earnings estimates and tracking the decline in the US markets, the ones in Asia opened lower on Wednesday The local market is likely to see a lower opening today on lacklustre global cues. The market, which settled sharply lower yesterday...

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Moneylife Digital Team 03 May 2011
Sell the rallies. The next support for the Nifty lies at 5,300 Today, the Sensex and Nifty fell by 2.44% and 2.39%, taking a knocking from the larger-than-expected rate hike announced by the Reserve Bank of India (RBI) in its annual monetary policy. This is the biggest drop in the...

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Moneylife Digital Team 03 May 2011
A division bench headed by justice BD Ahmed, which heard the matter thrice during the day said, "These pilots do not understand the gravity of being prosecuted for the contempt of court" New Delhi: The Delhi High Court today issued contempt notices to nine sacked office bearers of the Indian...

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Moneylife Digital Team 03 May 2011
The New Fund Offer opens for subscription on 9th May and closes on 19th May. No entry and exit load is applicable Kotak Mutual Fund will open the New Fund Offer (NFO) Kotak FMP Series 46, a close ended debt scheme with the duration of 370 days from the date of allotment of units. The NFO...

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Moneylife Digital Team 03 May 2011
However, RBI’s move will raise the cost of borrowing for banks which leverage high on their CASA funds Interest rates on money lying in savings bank (SB) accounts will go up by half a percentage point, with the Reserve Bank of India deciding to hike rates to 4%. Deposit-holders in SB accounts...

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