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Moneylife Digital Team 03 May 2011
US markets closed marginally lower on Monday while the Asian pack was in the red in early trade today as investors focussed on economic recovery The Indian market is likely to open lower on unsupportive global cues and cautiousness ahead of the Reserve Bank of India’s announcement of the...

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Moneylife Digital Team 02 May 2011
A move above Monday’s high may signal a change in trend. Or else… As expected the market fell today for a sixth consecutive day. Both the Nifty and the Sensex have fallen for six days in a row. In the last six days, the Sensex declined 604 points and the Nifty lost 183 points. In the...

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Moneylife Digital Team 02 May 2011
In January this year, the Malegam Committee had suggested a cap on the interest rates charged by micro finance institutions (MFIs) at 24% and also limiting the total loan cap to an individual at Rs25,000 New Delhi, May 2: The Reserve Bank of India (RBI) is likely to set different credit limit...

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Moneylife Digital Team 02 May 2011
During the quarter, the company acquired 85% stake in Vietnamese firm International Consumer Products Corporation. It also divested its edible oil brand ‘Sweekar’ to Cargill India for a consideration of Rs50 crore Mumbai: Fast Moving Consumer Goods major Marico, which sells hair oil brands like...

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Moneylife Digital Team 02 May 2011
On a standalone basis, the company suffered a loss Rs11.86 crore in the January-March quarter, as against a profit of Rs15.33 crore in the corresponding three-month period a year ago New Delhi: Tyre major Ceat today reported an 83.71% decline in consolidated net profit for the year ended 31...

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Moneylife Digital Team 02 May 2011
Meanwhile, the Delhi High Court earlier today asked striking Air India pilots to take a decision on resuming work, saying "this strike will not see another day" New Delhi: Civil aviation regulator Directorate General of Civil Aviation (DGCA) today asked private airlines not to charge...

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Moneylife Digital Team 02 May 2011
Legal e-mag reports how much law firms made from IPO, QIP rush last year. Amarchand & Mangaldas, Luthra, Crawford Bayley top the list 2010-2011 saw quite a few memorable IPOs (initial public offers) and QIPs (qualified institutional placements) last year. Whatever followed afterwards-with...

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Moneylife Digital Team 02 May 2011
According to analysts, FIIs have been pumping funds into India because of its strong growth potential. They feel that in the coming days too, foreign fund houses are likely to infuse money in the Indian bourses Mumbai: Betting big on the Indian market, foreign fund houses invested $1.61...

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Moneylife Digital Team 02 May 2011
Posco Pratirodh Sangram Samiti, which had been opposing the project since the South Korean steel major inked MoU with the state government in 2005, however, said it would democratically oppose the steel plant as earlier and that locals are ‘unhappy’ over final approval of forest diversion for...

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Moneylife Digital Team 02 May 2011
According to Dr BK Modi, chairman, Spice Mobility, mobile Internet can enable India to achieve double digit GDP growth rate by capitalising on the young population of the country Spice Mobility has announced the switch to being a technology company focused on the Mobile Internet space. The...

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Munira Dongre 02 May 2011
All airlines are facing cost pressures due to a rise in ATF prices. But with fares recovering and Air India pilots on strike, the summer may prove to be better than expected for private airlines Air India triggered an aggressive pricing war in the fourth quarter of FY11. Since April,...

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Moneylife Digital Team 02 May 2011
According to IRDA, the overall premium of the industry rose 22% to Rs42,568 crore against Rs34,984 crore during the previous financial year The premium income of general insurance companies, except for Reliance General, rose last fiscal on higher auto sales, increase in health insurance...

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Moneylife Digital Team 02 May 2011
Royal Sundaram recorded a growth of 24.92% to Rs1,143.70 crore during April 2010-March 2011 against Rs915.56 crore during 2009-10 Royal Sundaram Insurance's premium collection rose by 21.02 % to Rs115.10 crore in March 2011 against Rs95.11 crore in the corresponding period last year. The...

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Moneylife Digital Team 02 May 2011
Sanghvi Forging IPO closes for subscription on 9 May 2011 Sanghvi Forging & Engineering is entering the capital markets with an initial public offering (IPO) of Rs36.90 crore. The price band for the issue has been fixed at Rs80 at lower level and Rs85 at upper level. The issue opens on 4 May...

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Moneylife Digital Team 02 May 2011
SBI Mutual Fund new issue closes on 4th May SBI Mutual Fund has launched SBI Debt Fund Series-90 Days-43, a close-ended income scheme. The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising...

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Moneylife Digital Team 02 May 2011
DSP BlackRock Mutual Fund new issue closes on 5th May DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-12M-Series 19, a close-ended income scheme. The investment objective of the scheme is to seek capital appreciation by investing in a portfolio of debt and money market securities....

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Moneylife Digital Team 02 May 2011
The ministerial panel was to deliberate on whether Vedanta, with no experience in oil and gas sector, should be given unconditional approval for buying Cairn India that owns the nation's largest onland oil fields or be given clearance after attaching reasonable conditions New Delhi: The...

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Russia like China, India and Brazil has had enormous problems escaping the heavy hand of a command economy. But the political establishment that has run companies and ministries as personal fiefdoms, handing out patronage and ignoring corruption, may be changing due to the power of the...

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Moneylife Digital Team 02 May 2011
The country’s largest car-maker Maruti Suzuki India (MSI) reported a 4.40% jump in April sales to 97,155 units. Sales for the same month last year stood at 93,058 units, MSI said in a statement. The national capital-based company recorded sales of 87,144 units in the domestic market last...

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Moneylife Digital Team 02 May 2011
Retail chain Shopper’s Stop reported consolidated net profit of Rs7.71 crore for the fourth quarter ended 31 March 2011. The firm, which runs specialty stores like ‘Mothercare’, ‘Crossword’ and large format outlets like ‘HyperCity’, had reported a consolidated net profit of Rs12.57 crore in...

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