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Moneylife Digital Team 15 December 2010
Hyderabad: The Andhra Pradesh assembly on Tuesday night passed a Bill seeking to protect women self-help groups from “exploitation” by microfinance institutions (MFIs), which have come under scrutiny for alleged strong-arm tactics in debt collection and steep interest rates, reports PTI. The...

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Moneylife Digital Team 15 December 2010
The local market is likely to witness a flat-to-positive opening on the back of mixed global cues. The US markets ended higher overnight on assertions that the Federal Reserve will continue with its plan to boost the economy and on good economic data. Markets in Asia turned negative after...

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Moneylife Digital Team 14 December 2010
New Delhi: The government has approved eight foreign investment proposals worth Rs883.16 crore, with L&T Finance accounting for the major inflow, but deferred decision on those of Hindalco, Intel Capital and Reliance Broadcast Network, along with 11 others, reports PTI. The government also...

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Moneylife Digital Team 14 December 2010
Mumbai: The Bombay Stock Exchange (BSE) today said it has decided to suspend trading in 12 companies, including Vishal Exports, for varying periods with effect from 13 January, 2011, on non-compliance with the Listing Agreement, reports PTI. “... a company listed on BSE is required to comply...

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Moneylife Digital Team 14 December 2010
New Delhi: A hike of about Rs2 per litre in petrol prices is on cards this week following international crude oil prices touching $90 per barrel mark, reports PTI. “We would have raised petrol price yesterday ... We had the oil ministry consent to hike prices by Rs1.90-Rs1.95 per litre...

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Munira Dongre 14 December 2010
New York-headquartered full-service investment company says the Indian equity market is among very few around the world that looks poised to advance on a long-term bull phase over the next 5-10 years Oppenheimer & Co has in a report dated 7th December made out a very positive case for...

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Moneylife Digital Team 14 December 2010
The market, which witnessed a fair deal of volatility today, ended in positive territory for the third day in a row, tracking global cues and on better-than-expected domestic inflation numbers for November. Trading opened on a positive note on good cues from the global arena. Along with support...

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Moneylife Digital Team 14 December 2010
Dhanlaxmi Bank Ltd announced a 75 to 175 basis points (bps) increase on its domestic term deposit rates, across select maturities. The new rates, effective 15 December 2010 are applicable for domestic term deposits up to and including Rs50 lakh for various maturities. The Bank has...

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Moneylife Digital Team 14 December 2010
Country’s largest power producer NTPC Ltd said it would pick up 76% equity each in two thermal power projects in Jharkhand. “We are in talks with Jharkhand government to pick up stakes in Patratu and Tenughat,” NTPC CMD Arup Roy Choudhary said. He said the undertaking would pick up 76%...

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Moneylife Digital Team 14 December 2010
Country’s second largest two-wheeler manufacturer TVS Motor Company Ltd plans to ramp up its manufacturing facility at Hosur in Tamil Nadu as part of meeting “huge” demand for its scooterette Wego. The company had showcased the scooterette in November 2009. Now backed by huge demand, the...

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Moneylife Digital Team 14 December 2010
JSW Steel Ltd said it will raise Rs462 crore through the issuance of securities to Japan’s JFE Steel Corporation. The Japanese firm currently has 14.61% stake in the Sajjan Jindal-led firm. “The finance committee, a sub-committee of the board of directors of the company, at its meeting......

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Moneylife Digital Team 14 December 2010
Mumbai: Cotton output in India this year is expected to be around 325 lakh bales, reports PTI quoting a senior government official. “I am sure that it will not be less than 325-lakh bales,” textile commissioner, AB Joshi, said at a FICCI-organised event on sports textiles here. Concerns have...

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Moneylife Digital Team 14 December 2010
Fidelity MF unveils 370 days plan; Principal MF floats new 91 days plan; Religare MF launches Medium Term Bond Fund   Fidelity MF unveils 370 days plan Fidelity Mutual Fund has launched Fidelity Fixed Maturity Plan Series IV–Plan E, a close-ended income scheme. The investment objective of...

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Moneylife Digital Team 14 December 2010
New Delhi: The Enforcement Directorate (ED) will soon issue Letters Rogatory (LRs) to ten countries as part of its probe in the multi-crore second generation (2G) spectrum scam, reports PTI. Official sources said the directorate, which has already contacted its counterparts in 10 countries,...

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Moneylife Digital Team 14 December 2010
Global cues point out to a cautious opening for the local market today. Wall Street closed almost unchanged overnight on concerns about growth prospects in China played on investors’ minds and on profit-booking after the recent market rise. Markets in Asia were mostly higher in early trade on...

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Moneylife Digital Team 13 December 2010
New Delhi: An Empowered Group of Ministers (EGoM) headed by finance minister Pranab Mukherjee may meet on 22nd December to decide on raising diesel prices by Re1-Rs2 a litre in the backdrop of global crude rates climbing to near $90 a barrel, reports PTI. “The meeting of EGoM has been...

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Moneylife Digital Team 13 December 2010
Kochi: Turning down Kerala's plea for uniform pricing policy for natural gas throughout the country, Petroleum and Natural Gas Regulatory Board (PNGRB) chairman, Lalit Mansingh, today said there was no provision for determining the price of gas to the consumers either by the government or...

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Moneylife Digital Team 13 December 2010
New Delhi: The telecom ministry today started issuing show-cause notices to telecom companies which allegedly suppressed information to bag licences or failed to roll out services in stipulated time, reports PTI. “Show-cause notices to some firms have gone today and we expect to complete the...

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Moneylife Digital Team 13 December 2010
Mumbai: HDFC chairman Deepak Parekh today said that the proposal in the new Companies Bill, which seeks to restrict the tenure of independent directors, needs to be reconsidered, reports PTI. “The government is working to put a limit on the tenure of independent directors to a set number of...

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The Indian market is undergoing a secondary correction, after which it will be headed much higher   The markets have been correcting over the past few weeks and lot of traders and investors are asking themselves the question whether the bull market is over or if it is just a temporary...

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