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Moneylife Digital Team 28 October 2010
Indian Hotels Co Ltd, which operates Taj brand of hotels and resorts, reported a net loss of Rs6.3 crore for the second quarter ended September 2010 compared with a net profit of Rs11.9 crore in the same quarter last year. During the three-month period, its net sales stood at Rs328.5 crore...

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Moneylife Digital Team 28 October 2010
Fabric and apparel manufacturer Bombay Rayon Fashions Ltd said it will buy 70.6% stake in Indore-based STI India Ltd for Rs70 crore. STI is a public listed firm and the transaction will trigger a mandatory open offer to acquire another 20% stake. Bombay Rayon's board has approved the...

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Moneylife Digital Team 28 October 2010
Hyderabad-based MIC Electronics Ltd said its net profit for the first quarter ended September 2010 rose 45% to Rs16.7 crore from Rs11.5 crore in the same quarter last year. During the second quarter, its total revenues jumped 49% to Rs67.4 crore from Rs45.3 crore, the company said in a...

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Moneylife Digital Team 28 October 2010
Software service provider Hexaware Technologies Ltd said its consolidated net profit inched marginally to Rs42 crore for the third quarter ended September 2010 compared with Rs41.3 crore for the same quarter last year. During the September 2010 quarter, its revenues increased to Rs281.7 crore...

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Moneylife Digital Team 28 October 2010
State-run Hindustan Copper Ltd (HCL) reported a nearly four-fold jump in its second quarter net profit to Rs56.2 crore from Rs15.1 crore a year ago, mainly on account of higher prices and sales volumes. The company, which is gearing up for a share sale in December said its net sales rose 31%...

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Moneylife Digital Team 28 October 2010
Gujarat State Petronet Ltd (GSPL) reported a 16.8% fall in its net profit for the second quarter ended September 2010, to Rs91.5 crore. The company had reported net profit of Rs110.1 crore in July-September quarter last year, GSPL said in a filing to the Bombay Stock Exchange (BSE). The...

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Moneylife Digital Team 28 October 2010
J&K Bank Ltd said its net profit rose 22% to Rs163.3 crore for the quarter ended September 2010 from Rs134.3 crore in the same quarter last year. During the September 2010 quarter, its total revenues, including interest income increased 14.9% to Rs973.4 crore from Rs847.5 crore, the lender...

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Moneylife Digital Team 28 October 2010
Asian Paints Ltd said its second quarter net profit declined 22.9% to Rs196.2 crore from Rs254.3 crore last year due to prolonged monsoons that affected its sales. During the quarter to end-September, the paint manufacturer said its net sales rose 6% to Rs1,469.5 crore against Rs1,386.5 crore...

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Moneylife Digital Team 28 October 2010
IDBI Bank Ltd said its net profit rose 69% to Rs429 crore for the quarter ended September 2010 from Rs254 crore in the same quarter last year. Its revenues for the September 2010 quarter zoomed 152% to Rs1,168 crore from Rs464 crore, said the IDBI Bank in a press release. IDBI Bank has...

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Moneylife Digital Team 28 October 2010
Bangalore: India's IT exports this fiscal would be higher than anticipated, given the strong second quarter numbers posted by some big companies, reports PTI quoting Infosys Technologies CEO S Gopalakrishnan. IT exports are estimated to grow between 13% and 15% in 2010-11, up from about 5% in...

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Moneylife Digital Team 28 October 2010
New Delhi: Sugar mills that do not have enough of the sweetener to meet export obligations can now source the commodity from a third party to undertake shipments and take advantage of high prices in the global market, reports PTI. Mills had imported 20.75 lakh tonnes of sugar in the 2004-05...

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Moneylife Digital Team 28 October 2010
Birla Sun Life MF floats Birla Sun Life Fixed Term Plan-Series CG; Reliance MF unveils Reliance Fixed Horizon Fund-XVI-Series 2; Gravita India IPO to launch IPO on 1st November; Power Grid FPO to hit market on 9th November; HDFC Bank offers special rates on personal loans; USE will start live...

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Moneylife Digital Team 28 October 2010
Section 80C of the Income Tax Act offers a maximum deduction of Rs1 lakh, for investments in national savings certificate (NSC), public provident fund (PPF), life insurance premiums, equity-linked savings schemes (ELSS) and pension plans. If you have already exhausted the limit of Rs1 lakh and...

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Moneylife Digital Team 28 October 2010
The market is expected to open sideways on mixed cues from the global arena and nervousness on the futures and options (F&O) expiry day. Wall Street closed lower on Wednesday as investors stayed on the fence on concerns about the outcome of the two-day Federal Reserve meeting next week. Markets...

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Moneylife Digital Team 27 October 2010
Vadodara: Public sector bank Central Bank of India is all set to start its first financial inclusion initiative in Gujarat's Khanpur village tomorrow, reports PTI quoting a top bank official. Financial inclusion consists of providing banking services at affordable costs to weaker sections of...

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Moneylife Digital Team 27 October 2010
BS TransComm which found no takers at Rs260, got listed today and ended the day at Rs381! Strange games are being played at ease in the Initial Public Offering (IPO) market even as the market regulator and the stock exchanges look on. BS TransComm got listed today. It had failed to receive...

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Moneylife Digital Team 27 October 2010
The Indian market ended with a cut of over a percent, tracking lacklustre global cues. Choppy trade along with broadbased selling sent the indices on a southward journey, but the ending was a tad above the crucial levels and above the day's lows. The market opened weak on unsupportive global...

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Moneylife Digital Team 27 October 2010
Canara HSBC Oriental Bank of Commerce Life Insurance, a joint venture between start-run lenders Canara Bank, Oriental Bank of Commerce and HSBC Insurance (Asia Pacific) Holdings, said it has started new services to serve group business. The company said after establishing in the retail...

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Moneylife Digital Team 27 October 2010
Nagarjuna Construction Company Ltd said it won orders worth Rs540 crore from various agencies for infrastructure-related works. The Hyderabad-based company has won an order worth Rs388 crore from Tamil Nadu Water Supply and Drainage Board for construction of Hogenakkal Water Supply and...

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Moneylife Digital Team 27 October 2010
Birla Corporation Ltd said its net profit fell 54.6% to Rs69 crore during the second quarter ended 30 September 2010 compared to Rs152.1 crore in the same quarter of last year due to shutdown of its plants for capacity expansion and maintenance. Turnover of the company during the September...

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