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Moneylife Digital Team 19 November 2010
APL Apollo Tubes Ltd said it has acquired Lloyds Line Pipes, a Maharashtra-based manufacturer of steel tubes and pipes. The acquisition, worth Rs40 crore, has been completed in an all-cash deal. The Lloyds Line Pipes facilities will help APL Apollo manufacture up to 14-inch tubes. Located...

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Moneylife Digital Team 19 November 2010
State-run Indian Oil Corporation Ltd (IOC) said it will invest about Rs900 crore to pick up a 26% stake in Nuclear Power Corporation of India Ltd's (NPCIL) 1,400MW atomic power project at Kota, in Rajasthan. NPCIL is setting up a 1,400MW (2x700MW) power plant, which is scheduled for...

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Moneylife Digital Team 19 November 2010
IT major Patni Computer Systems Ltd said it has won a five-year contract, worth more than £20 million (more than Rs145 crore) from UK-based IT services provider 2e2. The contract will provide a range of support services for 2e2's end-user clients and the delivery of in-house support services.

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Moneylife Digital Team 19 November 2010
New Delhi: India Inc's shopping spree for October remained unabated with 46 merger and acquisition transactions (M&A) worth over $530 million taking place during the period and the year-to-date deal touching a whopping $42.76 billion in value terms, reports PTI. According to global consultancy...

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Moneylife Digital Team 19 November 2010
Chandigarh: The Wool and Woollens Export Promotion Council (WWEPC) has urged the textiles ministry to restore the old rates of duty drawback on wool products to reduce exporters' losses due to forex rate fluctuation, reports PTI. With exporters unlikely to achieve the $630 million target for...

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Moneylife Digital Team 19 November 2010
Sundaram MF launches Sundaram Fixed Term Plan-AQ; Fidelity MF unveils Short Term Income Fund; Sundaram MF floats Sundaram Fixed Term Plan-AR; HDFC Life launches single premium ULIP ProGrowth Maximiser; IndiaFirst Life Insurance introduces 'Ask Apply Get' service Sundaram MF launches Sundaram...

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Moneylife Digital Team 19 November 2010
New Delhi: The oil ministry was today firm that it will consider approval for the $8.48 billion Cairn-Vedanta deal only after UK-based Cairn Energy makes a formal application for transfer of control in all its 10 properties in the country, reports PTI. Cairn's current application seeking...

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It was one of its kind, backed by savvy private equity investors and the seal of approval from Narayana Murthy, no less. But SKS has landed investors in a soup. Glamour stocks like SKS usually disappoint. Here’s why SKS Microfinance was supposed to be one of its kind—the only listed stock...

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Moneylife Digital Team 19 November 2010
The bulls, riding on a wave of emerging market mania, are on the rampage again. While there are worries about overvaluation, the fact is that Indian markets have been much more overvalued in the past, especially back in 1994. It was the foreigners who caused that bubble and also the two...

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Moneylife Digital Team 19 November 2010
The Indian market is likely to open in the green tracking positive global cues. The telecom sector that is in the news on account of the spectrum scam will be closely tracked by investors. Wall Street closed higher on Thursday with major indices clocking their biggest gains in two weeks. Markets...

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Moneylife Digital Team 18 November 2010
Only a few fund houses exhibit superior performance on a continuous basis. Moneylife had identified these in the Cover Story “Best Fund Houses” (25 February 2010). We had found that some fund houses performed consistently well across different strategies and emerged on top even on other...

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Moneylife Digital Team 18 November 2010
Nearly 87% of equity schemes fell short of their benchmarks in September, the best month for equities in one year Last month witnessed spectacular gains in the Indian stock markets as foreign institutional investors (FIIs) loosened their purse strings quite aggressively. Both the benchmark...

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Moneylife Digital Team 18 November 2010
New Delhi: In a swift action against new telecom players who were given licences in 2008, the Telecom Regulatory Authority of India (TRAI) today asked government to cancel 62 licences given to five companies including Etisalat (Swan), Uninor and Videocon, reports PTI. The recommendation for...

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Moneylife Digital Team 18 November 2010
New Delhi: Faced with the challenge to raise an estimated $1 trillion for developing the country's infrastructure, government today set up a high-level committee to evolve a strategy in this regard, reports PTI. The committee headed by former Reserve Bank of India (RBI) deputy governor Rakesh...

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Moneylife Digital Team 18 November 2010
Refreshed after a day's break, the local market opened in the green this morning tracking the regional bourses that were on a positive note. The indices managed to close with marginal gains amid a volatile session. The market opened on a positive note tracking supportive cues from the bourses...

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Moneylife Digital Team 18 November 2010
Bangalore: ONGC has acquired 2,300 acres of land for its Special Economic Zone (SEZ) in Mangalore, its chairman and managing director RS Sharma said today, asserting that the project was "definitely on track". But acquisition of "this much land" is not sufficient to announce the SEZ as a...

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Moneylife Digital Team 18 November 2010
Ramky Infrastructure today said its consolidated net profit surged about two-fold to Rs40.38 crore for the second quarter ended September 2010 on account of increased volumes. The company had a net profit (after minority interest) of Rs20.76 crore in the same period previous fiscal, the...

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Moneylife Digital Team 18 November 2010
Sun Pharmaceutical Industries today said it had received approval from US health regulator to market generic Clarinex tablets and Tiazac capsules, used in treating nasal allergies and hypertension respectively in the American market. The Mumbai-based firm has received approval from US Food...

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Moneylife Digital Team 18 November 2010
Water treatment player VA Tech Wabag has signed a contract with Indian Oil Corporation (IOC) for setting up an effluent treatment plant (ETP) at a cost of Rs250 crore, the company said today. The contract with IOC has been signed recently for setting up an ETP facility at IOC's Paradip...

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Moneylife Digital Team 18 November 2010
Auto major Mahindra & Mahindra (M&M) plans to enter the US market with its electric vehicles from group firm Reva's portfolio within next five years. At present, the US government provides various incentives to the tune of $7,500 on electric vehicles, Mahindra Reva Electric Vehicles chief of...

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