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Moneylife Digital Team 12 October 2010
IDFC extends closing date for bonds issue by 4 days; HDFC Bank increases rates on fixed deposits by 50 basis points; Principal MF floats Principal Pnb Fixed Maturity Plan-91 Days-Series XXIV; Karur Vysya Bank to launch point of sale services; IDFC extends closing date for bonds issue by 4...

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Moneylife Digital Team 12 October 2010
New Delhi: The Insurance Regulatory and Development Authority (IRDA) today said the guidelines for insurance companies to tap the capital market for funds were awaiting the Securities and Exchange Board of India's (SEBI) nod and would be out soon, reports PTI. "Initial public offer (IPO)...

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V Ananthakrishnan 12 October 2010
Borrowing against gold is becoming more popular as the yellow metal’s price reaches for the stratosphere and Indians lose their inhibitions over pledging their family heirlooms as collateral. Is it safe to do business with these gold-loan companies?  In the previous part of this two-part...

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Munira Dongre 12 October 2010
Here are the earnings that can be expected from these companies CASTROL INDIA (Q3) Net sales: Rs6.4 billion-Rs7.2 billion Net profit: Rs1.1 billion-Rs1.5 billion Operating margins are expected to be about 500bps lower due to higher raw material prices and a weaker rupee. The quarter is...

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Munira Dongre 12 October 2010
Reports of production cuts in aluminium in China may tempt investors into thinking that aluminium prices are set for a rise again and that Hindalco might make a good bet at this level. This may not be the case While aluminium prices are down today (in line with the global correction in...

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Moneylife Digital Team 12 October 2010
The Indian market is likely to open on a cautious note today. The US markets closed with marginal gains amid low volumes on Monday on worries of the third quarter corporate earnings. The Asian pack was trading lower on a decline in oil and commodity prices and on concerns about the global...

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Moneylife Digital Team 11 October 2010
New Delhi: Contrary to UK-based Cairn Energy Plc's claim that it does not need government approval for the sale of a stake in its India unit to Vedanta Resources, the country's top law officer has ruled that specific approvals are required for all 10 oil and gas properties changing hands,...

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Moneylife Digital Team 11 October 2010
Mumbai: Leading domestic rating agency Crisil today said banks are likely to sharply hike their deposit rates in the second half (H2) as the lenders are expecting a strong revival in credit growth during the rest of the year, reports PTI. Noting that the bankers' response to the steady monetary...

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Moneylife Digital Team 11 October 2010
New Delhi: Coal miner major Gujarat NRE Coke today said it would invest $450 million in its coal mines in Australia to take its total annual production capacity to six million tonnes in the next five years, besides creating 150 new jobs, reports PTI. "The company has an expansion plan to ramp...

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Munira Dongre 11 October 2010
What’s buzzing in these stocks right now NTPC: The story doing the rounds is that the company has sought permission from the government to sell some of its land bank. However, the company is quite cash-rich and it is difficult to believe that it would need to raise money by selling its land....

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Moneylife Digital Team 11 October 2010
New Delhi: India's highways development project, the largest public private partnership programme in the world, is likely to attract a whopping investment of $41 billion, including FDI, from private sector, reports PTI quoting highways minister Kamal Nath. "Over the next few years, of the total...

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Moneylife Digital Team 11 October 2010
The market ended in the positive zone for the second day in a row. Although the indices got an early boost from the global markets this morning, the gains could not be sustained and the jittery market ended a tad higher. The market, which touched its intraday high soon after the opening bell on...

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Moneylife Digital Team 11 October 2010
Mumbai: Vedanta Resources today said the long-drawn arbitration process for buying government's remaining 49% stake in Bharat Aluminium Company (Balco) is over and the group expects to complete the acquisition by the end of this fiscal, reports PTI. "Arbitration process is concluded. Award is...

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Moneylife Digital Team 11 October 2010
The quarter ending September has been full of exciting developments for both the economy as well as corporate India. The BSE Sensex has crossed 20,000 and the markets are eagerly waiting to see the Q2 numbers before taking fresh direction. Here is what analysts are expecting in the metal, oil &...

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Moneylife Digital Team 11 October 2010
Education management systems provider, CORE Projects & Technologies Ltd has signed a memorandum of understanding (MoU) with Gujarat Knowledge Society, to impart job-oriented skill upgradation courses to students from various disciplines in colleges across Ahmedabad and Surat districts. With...

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Moneylife Digital Team 11 October 2010
MIC Electronics Ltd said it signed a memorandum of understanding (MoU) to buy 51% stake in LED lightening system manufacture Avni Energy Solutions Pvt Ltd. No financial details were provided. With this acquisition, MIC said its manufacturing capacity as well as its customer base and people...

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Moneylife Digital Team 11 October 2010
Mumbai-based Supreme Infrastructure India Ltd said it won two orders worth Rs85.4 crore for civil works. The first order worth Rs20 crore is from Rolta India Ltd for civil related works at Rolta Tower I, in Andheri. The second order worth Rs65.4 crore is from RNA Corp Ltd for construction of...

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Moneylife Digital Team 11 October 2010
Jaihind Projects Ltd said it won orders worth Rs94.3 crore from Brahmaputra Cracker and Polymer for carrying out piping works at Lepetkata in Assam. On Monday, Jaihind Projects shares rose 2.4% to Rs235 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.4% to 20,339 points.

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Moneylife Digital Team 11 October 2010
Plastics and textile company Sintex Industries Ltd registered a net profit of Rs100 crore for the quarter, ended 30 September compared to Rs57.2 crore for the corresponding quarter last year. During the second quarter, the company's total revenues increased to Rs950.2 crore from Rs720.2...

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Moneylife Digital Team 11 October 2010
Glenmark Pharmaceuticals Ltd said its unit Glenmark Generics received approval from the US Food and Drug Administration (USFDA) for its pramipexole dihydrochloride tablets, used in the treatment of Parkinson's disease. The company has started the marketing and distribution of all approved...

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