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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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Moneylife Digital Team 13 December 2010
Drug-maker Aventis Pharma Ltd said it will sell its 49% stake in Chiron Behring Vaccines Pvt Ltd (CBVPL) to its joint venture partner, Novartis Vaccines & Diagnostics Inc, for $22.4 million (nearly Rs100 crore). The two partners, that have been fighting a legal battle over marketing of...

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Moneylife Digital Team 13 December 2010
Confidence Petroleum India Ltd announced that two of its units have received orders worth Rs36.64 crore from Hindustan Petroleum Corporation Ltd (HPCL) for supply of LPG cylinders. Confidence Petroleum’s Khopoli Cylinder manufacturing unit and Andhra Cylinders, a unit of Envy Cylinders, have...

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Moneylife Digital Team 13 December 2010
Amara Raja Batteries Ltd has launched Amaron Volt TM, a specialised storage battery for the Indian telecom industry.   Amaron Volt TM, a 2V high integrity series product is the latest valve-regulated lead-acid battery (VRLA) offering from Amaron Hi Life range to meet the emerging demanding...

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Moneylife Digital Team 13 December 2010
New Delhi: As part of its money laundering prevention efforts, market watchdog Securities and Exchange Board of India (SEBI) will now keep a tab on mutual fund investments made by bureaucrats and politicians, including former and current state heads, reports PTI. Come 1 January, 2010, all the...

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Moneylife Digital Team 13 December 2010
IDBI Bank revises base rate, BPLR and interest rates on deposits; Bank of Baroda raises BPLR by 75 bps, base rate by 50 bps; IDFC Mutual Fund floats three months plan IDBI Bank revises base rate, BPLR and interest rates on deposits IDBI Bank announced a hike in deposit and lending rates by...

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Moneylife Digital Team 13 December 2010
New Delhi: Driven by increased availability of oilseeds in domestic market, the country’s vegetable oils import has declined by over 11% to 6.68 lakh tonnes in November, reports PTI quoting an industry body. “Last year, we had a drought that had reduced availability leading to higher imports...

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Moneylife Digital Team 13 December 2010
New Delhi: Third generation (3G) services can give public calling offices (PCOs) a facelift with its owners offering features like video calling at cheap rates to its customers, reports PTI quoting telecom equipment maker Ericsson. The Swedish firm has started a pilot project to demonstrate...

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Moneylife Digital Team 13 December 2010
Dubai: Oman could strengthen domestic availability of foodgrains by entering into “contract farming” with Indian farmers, reports PTI quoting Planning Commission deputy chairman Montek Singh Ahluwalia. He said that agriculture is an important area for Omani government to invest. “Indian...

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