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Moneylife Digital Team 16 July 2010
The apex court dismissed the company’s plea for lifting the 7-year ban from accessing the market, which was imposed by SEBI last November following irregularities in the company's IPO in 2006 The Supreme Court (SC) today dismissed a petition by Madras-based entertainment company, Pyramid...

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Moneylife Digital Team 16 July 2010
The pension regulator has suddenly initiated a consultation process with market participants for the formation of new administrative guidelines for the New Pension Scheme. Does it set the stage for a makeover of the NPS? After the mutual fund and insurance regulators have done their bit for...

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Moneylife Digital Team 16 July 2010
The pension regulator has suddenly initiated a consultation process with market participants for the formation of new administrative guidelines for the New Pension Scheme. Does it set the stage for a makeover of the NPS? After the mutual fund and insurance regulators have done their bit for...

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Moneylife Digital Team 16 July 2010
Patients who were hoping to see the deadlock between hospitals and insurers along with TPAs be resolved will have to wait longer, as medical consultants and hospitals alike are not agreeing with their terms Patients who were hoping that the war between insurance companies, hospitals and Third...

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Moneylife Digital Team 16 July 2010
Citigroup clarified that it is very much in the home loan business and has just sold a small portion of its loan-book (5%) so that it can lend afresh Financial services firm Religare Enterprises today said it will acquire a part of Citigroup India's home loan portfolio for Rs500 crore,...

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Moneylife Digital Team 15 July 2010
Nova Medical Centers, a specialised day care surgery centre chain said it formed a joint venture with Max Healthcare Institute Ltd (MHC) to expand the reach of its day care surgery in the National Capital Region. MHC will hold a 31% stake in the joint venture, titled as Nova Medical Centres NCR...

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Moneylife Digital Team 15 July 2010
Mumbai-based IndiaFirst Life Insurance Co Ltd, a joint venture between Bank of Baroda and Andhra Bank with UK’s Legal & General, said it received the ISO 9001:2008 certification for its best-in-class business processes. IndiaFirst Life Insurance is the first life insurance company in the...

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Moneylife Digital Team 15 July 2010
Toyota Kirloskar Motor Pvt Ltd (TKM), a joint venture between Toyota Motor Corp and the Kirloskar Group, said it signed a memorandum of understanding (MoU) with Indian Bank to extend auto retail finance to their customers. TKM dealers will promote the schemes to provide various finance options...

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Moneylife Digital Team 15 July 2010
Hyderabad-based MIC Electronics Ltd said it will launch a set of five new light-emitting diode (LED) based products categories with 15 variants. The categories of LED include LED tube and bulb, LED angel, LED fittings for offices, LED fittings for hospitality and LED fittings for outdoor...

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Moneylife Digital Team 15 July 2010
LIC Housing Finance Ltd (LIC HF) reported a first quarter net profit of Rs212.01 crore compared with Rs123.83crore for the quarter ended June 2009. During the period its total revenues increased to Rs1,014.93 from Rs781.86 crore same quarter a year ago. On Thursday, LIC HF shares ended 7.2%...

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Moneylife Digital Team 15 July 2010
Chennai-based Polaris Software Lab Ltd said its first quarter net profit rose to Rs46.6 crore from Rs31.8 crore a year ago. During the first quarter to end-June, its total revenues increased to Rs368 crore from Rs312.2 crore, same period previous year, it said in a regulatory filing. On...

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Moneylife Digital Team 15 July 2010
In a regulatory filing to Bombay Stock Exchange (BSE), Axis Bank Ltd registered a net profit of Rs741.88 crore for the quarter ended 30 June 2010 as compared to Rs562.04 crore for the quarter ended 30 June 2009. The bank’s total revenues has increased to Rs4,326.37 crore for the quarter...

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Insurers will be going to IRDA for protesting against the new norms on ULIPs and seek a change, as many in the sector believe that these financial instruments will become less attractive after the proposed regulatory changes It has been nearly two weeks since the Insurance Regulatory and...

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Moneylife Digital Team 15 July 2010
Engineering and construction company Larsen & Toubro Ltd (L&T) said its joint venture with Mitsubishi Heavy Industries (MHI) and Mitsubishi Electric Corp (MELCO) started production of turbine generators and boilers at their new facility at Hazira in Gujarat. L&T-MHI joint ventures are the...

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Moneylife Digital Team 15 July 2010
State-run Bank of Maharashtra said it received Rs588 crore from the Government of India as capital infusion that will help the lender to expand its business. The instrument used is perpetual non cumulative preference shares (PNCPS) has an annual floating coupon to be benchmarked to repo rate...

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Moneylife Digital Team 15 July 2010
Wind turbine manufacturer Suzlon Energy Ltd said it won an order from Serum Institute of India Ltd to set up, operate and maintain a 37.8 MW project at Jaibhim in Dhule-Nandurbar wind park in Maharashtra. The project will comprise 18 units of Suzlon’s S88-2.1 MW wind turbines which are enough...

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Moneylife Digital Team 15 July 2010
Hyderabad-based Nagarjuna Construction Co Ltd said its subsidiary NCC Power Projects Ltd (NCCPPL) is developing a 1,320 MW thermal power plant at Sompeta in Srikakulam district of Andhra Pradesh. No financial details were disclosed. To set up the plant, NCCPPL acquired 972 acres of land by the...

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Moneylife Digital Team 15 July 2010
Tata Communications Ltd said it has partnered with Internet search services provider Google to offer web-based business connectivity tools to businesses across India. Google India have plans to combine their global resources to offer a portfolio of web-based, collaborative business connectivity...

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Moneylife Digital Team 15 July 2010
Mumbai-based Colgate Palmolive (India) Ltd registered a net profit of Rs122 crore for the quarter ended 30 June 2010 whereas the same was at Rs102.8 crore for the quarter ended 30 June 2009. The total revenues of the company increased to Rs555.11 crore for the quarter ended 30 June 2010 from...

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Moneylife Digital Team 15 July 2010
The approval would result in saving about a 1000 jobs in the US. Jobs are believed to have been behind Exim Bank's reversal of earlier decision of rejecting the arrangement Responding to green commitment from Reliance Anil Dhirubhai Ambani Group (R-ADAG), the US Export-Import (Exim) bank...

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