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Moneylife Digital Team 23 October 2010
Mumbai: Union minister of state for corporate affairs, Salman Khurshid has said that the government would resolve the 'technical issues' pertaining to the SKS Microfinance case, reports PTI. "The Andhra Pradesh High Court has given its decision on the matter (sacking of the company's CEO Suresh...

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Moneylife Digital Team 23 October 2010
Hyderabad: SKS Microfinance has reported a profit after tax of Rs80.54 crore in the second quarter ended 30 September 2010, a jump of 116% from the Rs37.35 crore in the corresponding period last year, reports PTI. Revenues of the country's largest microfinance institution increased by 76% to...

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Moneylife Digital Team 23 October 2010
New Delhi: The Supreme Court on Friday stayed the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) order upholding a hike in second generation (2G) telecom spectrum (radio waves) usage charges, but asked telecom firms Bharti Airtel, Vodafone, Idea and Bharti Hexacom to deposit with it...

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Except for the ‘secondary corrections’, which may happen in the future, the market appears to be on the rise   There are five major factors which affect stock markets: economic, monetary, fundamental, technical and psychological. Let's look at the current market condition based on...

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Moneylife Digital Team 22 October 2010
New Delhi: The government today asked Vodafone to pay about Rs11,218 crore in taxes for the purchase of Hutchison Whampoa Ltd's mobile business in the country in 2007. The payment is to be made within a month, PTI reports. "The I-T department today issued an order raising a tax demand of...

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Munira Dongre 22 October 2010
BAJAJ AUTO (Q2) Net sales: Rs43.42 billion (expected range Rs41.20 billion-Rs43.22 billion) Net profit: Rs6.82 billion (expected range Rs6.32 billion-Rs7 billion) Highlights: Both sales and net profit were at the higher end of the estimated range. As expected, realisations...

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Moneylife Digital Team 22 October 2010
Investors resorted to profit taking after yesterday's gains resulted in the market ending lower amid a highly volatile session. Cautiousness about the outcome of the two-day Group of Twenty (G20) meeting also added to the worries. The market opened in the green on positive global cues. A high...

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Moneylife Digital Team 22 October 2010
State-run lender Central Bank of India and Bajaj Finance Ltd said it signed an alliance to co-finance retail and small and medium enterprises (SME) loans. Bajaj Finserv has estimated the co-financing could go up to Rs1,000 crore over the next 18 months. As per the tie-up, the assets would be...

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Moneylife Digital Team 22 October 2010
IT training services provider NIIT Ltd reported about 9% growth in its consolidated net profit at Rs28.5 crore for the quarter ended 30 September. The company had registered a net profit of Rs26.2 crore during the same quarter in the previous fiscal. However, its revenue dipped by 4% to...

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Moneylife Digital Team 22 October 2010
South Indian Bank Ltd said it has recorded net profit of Rs77 crore in the second quarter ended September 2010, as against Rs72.6 crore in the year-ago period. During the second quarter to end-September, the lender's total revenues increased to  Rs624.4 crore from Rs534.4 crore last year.

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Moneylife Digital Team 22 October 2010
Biotechnology company Biocon Ltd reported 20.3% increase in net profit for the quarter ended 30 September 2010 to Rs89.2 crore on the back of strong sales in the biopharmaceuticals segment. The company had registered net profit of Rs74.2 crore in the same quarter a year ago, Biocon said in a...

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Moneylife Digital Team 22 October 2010
Vijaya Bank Ltd said its standalone net profit for the quarter ended September 2010 increased to Rs144.3 crore from Rs108.4 crore in the same quarter last year. During the September 2010 quarter, the bank's total revenues increased to Rs1,520.9 crore, a rise of 4.3%, from Rs1,457.6 crore.

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Moneylife Digital Team 22 October 2010
Tata Mutual Fund floats Tata Fixed Maturity Fund Series 29 Scheme A; Kotak Mahindra MF launches Kotak FMP 370 Days Series 10; HDFC Mutual Fund unveils HDFC FMP 100D October 2010 (3); Sharekhan ties up with US-based academy to offer stock market courses Tata Mutual Fund floats Tata Fixed Maturity...

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Moneylife Digital Team 22 October 2010
Mumbai: Tata Consultancy Services (TCS), the country's largest software services exporter, climbed to a new high in early trade today after the company's profit growth outpaced that of Infosys Technologies Ltd and Wipro Ltd. The stock price gained 5.8% to Rs1,043, the highest since the shares...

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Moneylife Digital Team 22 October 2010
The Indian market is likely to open higher tracking the global markets. Wall Street ended with marginal gains in the midst of a volatile session on a stronger dollar and positive earnings reports. Markets in Asia were trading mixed in early trade on strong earnings figures posted by US companies...

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In Coal India’s prospectus, two figures have got altered. SEBI, whose decisions are often biased and whimsical, has insisted that investors must be allowed to withdraw their bids on such a negligible mistake The Securities and Exchange Board of India (SEBI), whose decision-making has always...

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Moneylife Digital Team 21 October 2010
In the past, companies have left out significant information like pending litigation against them from their red herring prospectuses. Coal India, however, was pulled up just for a typographical error Has the Securities and Exchange Board of India (SEBI) been unduly harsh with Coal India Ltd...

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Moneylife Digital Team 21 October 2010
Brokerage firm Aditya Birla Money’s fancy scheme for the rich incurred heavy losses amid wrong bets. It has required intervention from the very top to set things right  In the high stakes game of wealth management, where revenue generation usually takes precedence over client welfare, all it...

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Moneylife Digital Team 21 October 2010
Hydro-mechanical equipment supplier, OM Metals Infraprojects Ltd in joint venture (JV) with SEW Ltd has won a contract worth Rs144  crore from Madhya Pradesh Water Resource Department. The scope of work includes over flow and non-over flow construction of concrete dam including HM components...

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Moneylife Digital Team 21 October 2010
Commercial and residential property developer, Mahindra Lifespace Developers Ltd (MLDL), said its net profit for the second quarter ended 30 September 2010 increased to Rs24.7 crore, a rise of 42%, from Rs17.3 crore. Net sales stood at Rs89 crore, an increase of 40%, against Rs63.5 crore for...

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