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Moneylife Digital Team 18 October 2010
Mumbai: State-owned exploration and production (E&P) major Oil and Natural Gas Corporation's (ONGC) fuel subsidy bill will increase by nearly 15% to Rs3,019 crore in the second quarter this fiscal, reports PTI. PSU fuel retailers Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation...

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Moneylife Digital Team 18 October 2010
The Indian market is likely to open on a cautious note today on the back of mixed cues from the global arena. The US markets closed mixed on Friday with the financial sector leading the losses. Markets in Asia were also trading mixed in the absence of any supportive triggers from the US. The SGX...

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Moneylife Digital Team 16 October 2010
The market ended lower for the week ended 15th October - the second week in a row - mainly on profit taking by institutional investors, unsupportive global cues and tardy economic triggers on the domestic front. The indices ended with modest gains on Monday amid jittery and range-bound trade. A...

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Low US interest rates, carry trades, decoupling and even mortgage fraud. No, we are not talking of 2007, but 2010 The US dollar is collapsing; commodities are going through the roof; foreign institutional investors (FIIs) cannot have enough of Indian equities because decoupling is once again...

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Moneylife Digital Team 15 October 2010
Unsupportive cues from across the globe led to a soft opening this morning. Weak wholesale price index (WPI) and weekly inflation data and all-round selling pressure resulted in a steep slide in the market, ending nearly 2% lower. The market opened on a subdued note this morning on tepid global...

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Moneylife Digital Team 15 October 2010
The stock market is nervous about the microfinance sector, particularly SKS Microfinance—the country’s largest MFI—which is suffering for its deeds Recent incidents are taking a toll on the share price of SKS Microfinance Ltd, probably the country's largest microfinance company. The SKS stock,...

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Moneylife Digital Team 15 October 2010
New Delhi: The textile industry has sought the prime minister's intervention for ensuring availability of cotton for domestic firms considering that exporters registered 55 lakh bales cotton for exports within 10 days of the government initiating the process, reports PTI. The government has...

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Moneylife Digital Team 15 October 2010
Chandigarh: Keeping a watch on the record $22 billion foreign institutional investor (FII) investments in the booming Indian stock markets this year, the Reserve Bank of India (RBI) today said it will "intervene if the inflows are lumpy and volatile", reports PTI. "We are watching the situation...

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Moneylife Digital Team 15 October 2010
New Delhi: Reliance Industries (RIL) today said it has raised $1.5 billion from its first benchmark sale of bonds denominated in US dollars, reports PTI. Billionaire Mukesh Ambani-run firm sold $1 billion of 10-year notes and $500 million of 30-year bonds, the company said in a press statement...

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Moneylife Digital Team 15 October 2010
Drug company Lupin Ltd said it settled its patent dispute regarding two oral contraceptives Loestrin 24 Fe and Femcon Fe, with Ireland-based Warner Chilcott. According to the settlement accord, Lupin has agreed not to sell a generic version of Loestrin 24 Fe before the patent expiry on July...

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Moneylife Digital Team 15 October 2010
Eros International Media Ltd said it signed a multi-film content licensing deal worth Rs64 crore for exclusive broadcasting of some of its movies across Zee Entertainment's television network. This would take the company's cumulative revenue visibility to Rs240 crore from presales of music...

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Moneylife Digital Team 15 October 2010
Infrastructure company Sadbhav Engineering Ltd said it won road projects worth Rs1,411.4 crore from the National Highways Authority of India (NHAI) for widening and maintenance of roads in Madhya Pradesh and Maharashtra. Sadbhav Engineering said it received a project for widening of...

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Moneylife Digital Team 15 October 2010
Tata Motors Ltd said its global sales increased 19% in September to 86,996 units on robust demand for both commercial and passenger vehicles. Sales of luxury brands from Jaguar Land Rover were at 19,528 units during September up 16% from the same month last year, Tata Motors said in a...

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Moneylife Digital Team 15 October 2010
New Delhi: India today offered 34 oil and gas blocks for exploration in the 9th round of New Exploration Licensing Policy (NELP), reports PTI. "The government is offering 34 blocks covering an area of 88,807 sq km," petroleum minister Murli Deora said. "The last date for bidding for the blocks...

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Moneylife Digital Team 15 October 2010
IDFC Mutual Fund floats IDFC Savings Scheme-Series I; Kotak Mahindra MF introduces Kotak FMP 370 Days Series 9; Pramerica MF files offer document with SEBI to launch Pramerica Short Term Floating Rate Fund IDFC Mutual Fund floats IDFC Savings Scheme-Series I IDFC Mutual Fund has launched IDFC...

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Munira Dongre 15 October 2010
Net sales above expectations; profit at the higher end; dollar guidance raised, but rupee guidance stagnant at the upper end due to appreciation INFOSYS Q2 Net sales (INR): Rs69.5 billion (expected range Rs66.1 billion-Rs68.4 billion) Net sales ($): $1.5 billion (expected range $1.44...

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Munira Dongre 15 October 2010
Axis NII at upper end of estimates but slippages rise; LICHF's NIMs hold AXIS BANK Q2 NII: Rs16.15 billion (estimated range Rs15.1 billion-Rs16.5 billion) Net profit: Rs7.3 billion (estimated range Rs6.7 billion-Rs7.5 billion) (NII and profits were both at the higher end of estimates)...

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Moneylife Digital Team 15 October 2010
The Indian market is likely to witness a soft-to-positive opening today on tepid global cues. US markets closed lower following a possible probe into foreclosure practices that spooked the banking sector. The Asian pack was seen taking a pause after the recent gains and concerns about a rise in...

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The government will have to be unusually quick to exploit the current window of opportunity by divesting stakes in fundamentally strong public sector firms and channel money into large infrastructure and development projects With the markets on fire, many investors seem to think that the...

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Moneylife Digital Team 14 October 2010
New Delhi: SpiceJet's new promoters SunTV chief Kalanithi Maran and his company KAL Airways will launch an open offer to acquire an additional 20% stake in the low-cost carrier on 18th October, reports PTI quoting Enam Securities, the manager of the offer. "The open offer will open on 18th...

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