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Moneylife Digital Team 20 September 2010
While Kazi Aviation is claiming non-payment as the reason, Concurrent is saying that the company's name was not included in various licenses by Kazi Aviation as per an agreement Concurrent (India) Infrastructure Ltd's game of moving what seems to be false information with the stock exchanges...

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Moneylife Digital Team 20 September 2010
Compucom Software Ltd said it won an order worth around Rs10.4 crore from the Rajasthan Council of Elementary Education. The company will provide computer aided learning programme (CALP) in 836 government schools of Rajasthan. On Monday, Compucom Software shares ended 6.3% down at Rs37 on...

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Moneylife Digital Team 20 September 2010
Nexxoft Infotel Ltd said it won an order worth Rs15.5 crore from an international hotel chain for providing security solutions. The company will use its state-of-the-art security solution package for its properties mainly based in the Middle East. The order will be executed in phases over 15...

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Moneylife Digital Team 20 September 2010
Octant Interactive Technologies Ltd said it has received export orders worth $1.02 million to supply castor derivatives to Canada, US, Saudi Arabia and Tunisia. On Monday, Octant Interactive shares ended 1.1% up at Rs12 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.6% to...

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Moneylife Digital Team 20 September 2010
Sujana Universal Industries Ltd (SUIL) said it will soon initiate the process to merge EBC Bearings Ltd (EBC) with itself.  SUIL bought EBC, which owns a facility in Hyderabad that can manufacture medium and large sized bearings. Sujana Universal's light engineering components division has...

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Moneylife Digital Team 20 September 2010
IVRCL Infrastructures & Projects Ltd said its consortium with  Kakade Infrastructure won an order worth Rs1,500 crore for construction-related works. The scope of work includes extension of the Pune-Mumbai Expressway, widening of flyovers and underpasses and establishment of foot over-bridges...

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Moneylife Digital Team 20 September 2010
Piramal Life Sciences said it has started phase-II clinical trials of a molecule, aimed at treating diabetes, in Europe and India. The company initiated the phase-II study of 'P1736-05', an insulin sensitising compound, which is being developed for the treatment of type-2 diabetes in India...

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Moneylife Digital Team 20 September 2010
New Delhi: Betting big on the Indian equity markets, foreign fund houses have invested over Rs71,000 crore ($15.6 billion) so far this year and analysts believe that it will soon breach the record-figure achieved in 2009, reports PTI. In the last fortnight alone (1st-17th September), foreign...

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Moneylife Digital Team 20 September 2010
New Delhi: Preliminary findings of the Comptroller and Auditor General (CAG) show discrepancies in award of contracts related to Panna/Mukta and Tapti oil and gas fields by a consortium-led by the UK's BG Group, reports PTI. The Audit and Accounts Department of CAG sent its preliminary...

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Moneylife Digital Team 20 September 2010
Franklin Templeton MF launches Franklin Templeton Fixed Tenure Fund-Series XIV Plan B; ICICI Prudential MF floats ICICI Prudential Fixed Maturity Plan-Series 53-1 Year Plan A; IDFC Mutual Fund unveils IDFC Fixed Maturity Plan-Quarterly Series 60; LIC launches LIC's Endowment Plus Policy  Franklin...

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Moneylife Digital Team 20 September 2010
New Delhi: State-run Rural Electrification Corporation (REC) today said the Reserve Bank of India (RBI) has granted it the infrastructure finance company status which would allow the firm to lend more to power projects, reports PTI. The RBI has now categorised REC as an Infrastructure...

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Moneylife Digital Team 20 September 2010
Mumbai: The United Stock Exchange of India (USE), a new bourse for currency derivatives, began operations today and witnessed good volumes in the first hour of trade, reports PTI. After the National Stock Exchange (NSE) and Multi Commodity Exchange (MCX), USE is the third bourse offering...

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Moneylife Digital Team 20 September 2010
Kolkata: State-run Coal India Ltd (CIL) may scrap allotment under anchor investor plan of its mega initial public offering (IPO) as the government feels the selection of such investors — in case their demand for the issue exceeds the limit — may not be transparent, reports PTI. The government...

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The Indian capital market is narrow, shallow, illiquid and concentrated in the hands of a few individuals. Here is the evidence Whenever I point out that India’s investor population has plummeted from 20 million in 1992, when we embarked on our economic liberalisation programme, to eight...

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Gainers: Canara Bank (up 13%) has revised its benchmark prime lending rate (BPLR) upwards by 50 basis points (bps) to 12.5%, from 12% effective 12th August. State Bank of India (SBI) (up 7%) posted growth of 6% and 67%, respectively, in revenue and operating profit in the June quarter over the...

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Gainers: Petronet LNG (up 10%) plans to set up a 750MW gas-based power station at Dahej. State Bank of India (up 7%) posted growth of 6% and 67% in revenue and operating profit, respectively, in the June quarter over the year-ago period on high net interest income and decline in the cost of...

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Gainers: Yes Bank (up 16%) raised Rs665 crore through bonds and debt. Wipro (up 12%) has set up the first Bluetooth testing facility in India. The company is the first to be recognised as the Bluetooth Qualification Test Facility (BQTF) by the Bluetooth Special Interest Group (SIG), the trade...

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Moneylife Digital Team 18 September 2010
A year on, some beleaguered investors in Osian Art Fund still await the first tranche of payment! When wealth managers (mostly of foreign banks) sell alternative investment products like art funds to their ‘clients’, they surely do not expect a situation where even the return of the principal...

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Foreigners: Foreign institutional investors continued buying shares in large volumes registering a net inflow of Rs3,604 crore during the fortnight. Indians: Domestic institutional investors chose to dump shares in the market and registered a net outflow of Rs1,918 crore.

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Most global indices ended in negative territory over the fortnight. The Nasdaq Composite and the Nikkei shrunk the most (5% each) while the Dow Jones Industrial Average fell by 4%.

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