ECONOMY & NATION


Moneylife Digital Team 13 February 2014
PI Industries during December quarter reported 45% higher net profit as its sales grew 23% PI Industries, Rajasthan based agricultural chemicals and products manufacturing company said its third quarter net profit increased 45% on in its total sales growth of 29%.   For the quarter...

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Moneylife Digital Team 13 February 2014
During the December quarter, Sun Pharmaceuticals’ net profit surged to Rs1,531 crore on robust sales and higher exports Sun Pharmaceutical Industries Ltd (Sun Pharmaceutical), recorded a 74% jump in its third quarter net profit on robust sales in domestic and overseas markets.

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Moneylife Digital Team 13 February 2014
Decks were cleared for an end to the boycott imposed on Modi by the US in the aftermath of the 2002 post-Godhra riots when, Nancy Powell sought an appointment with the Gujarat chief minister   Ending a nine-year boycott, US ambassador Nancy Powell on Thursday met Gujarat chief...

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Moneylife Digital Team 13 February 2014
Those suspended include L Rajagopal, expelled Congress member who sprayed pepper gas from a canister in the House, causing chaos. TDP member M Venugopala Reddy, who broke the mike, was also among the 18 MPs suspended   Cracking the whip, Lok Sabha Speaker Meira Kumar on Thursday...

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Moneylife Digital Team 13 February 2014
During the December quarter, Cipla’s net profit fell to Rs284 crore despite growth in its sales and exports Cipla Ltd, a pharmaceutical company said, its third quarter net profit fell 17% on higher expenditure, especially on staff,  material costs, changes in product mix and research &...

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There is grim shale news from the US, due to water issues. India too needs to rethink on this new fuel source which requires large volume of water for hydraulic fracturing The US took the lead, a few years ago, in the discovery and the development of shale oil and gas resources which...

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Moneylife Digital Team 12 February 2014
Aditya Birla Chemicals shares hit its 52-week high on BSE due to strong December quarter results achieved on robust sales growth and new acquisitions Aditya Birla Chemicals (India) Ltd, Wednesday hit its 52-week high at Rs122 on the BSE following the company’s good third quarter results....

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Moneylife Digital Team 12 February 2014
The HC refused to defreeze bank accounts of Transview Enterprises owned by Suresh Thimiri, who is often touted as QNet India's CEO but had denied any relations with the MLM operator   The Bombay High Court on Wednesday rejected interim application filed by Suresh Thimiri, who is often...

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Moneylife’s online survey on tax compliance and issues shows that one out of ten respondents indulges in tax avoidance, which can land them in trouble. TDS credit mismatch is still an issue for 40% of respondents A survey conducted among Moneylife readers on tax compliance and issues...

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Moneylife Digital Team 12 February 2014
During the December quarter, Infinite Computer Solutions reported 46% fall in its net profit due to lower sales and higher forex loss   Infinite Computer Solutions (India) Ltd, an information technology (IT) service provider, reported a 46% fall in its third quarter net profit due...

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Moneylife Digital Team 12 February 2014
While there is no increase in passenger fares and freight rates, the railway minister has announced 73 new trains. Mumbai would also get its first AC local train in July 2014   Railway minister Mallikarjun Kharge, presenting the interim budget for the railways on Wednesday refrained...

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Moneylife Digital Team 12 February 2014
Kharge has introduced 73 new trains, which includes 17 Premium trains, 39 Express trains, 10 Passenger trains, 4 MEMU and 3 DEMU in this year’s Interim Railway Budget.   Railway minister Mallikarjun Kharge on Wednesday introduced 73 new trains, which includes 17 Premium trains, 39...

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Nidhi Bothra 12 February 2014
The only options left with NBFCs are issuance of compulsorily convertible debentures with no tenure limit on the conversion or contingently convertible debentures or a third instrument that the market may innovate The Companies Act, 2013 is turning out to be opening a pandora box for...

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ONGC has tremendous potential to serve the nation and reward its shareholders, both in dividends and value appreciation Recently, it may be recalled that when the government wanted to divest from Coal India Ltd by a buy-back arrangement, there was a huge public outcry, essentially from...

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Dr SD Israni 12 February 2014
Can all direct taxes be abolished in favour of a transaction tax? Seems like a pipe dream “We have long had death and taxes as the two standards of inevitability. But there are those who believe that death is the preferable of the two.” — Erwin N Griswold While the kite flying...

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If Chidambaram’s expectation comes from genuine concern for public sector units, then it should be demonstrated by not giving ‘informal’ directions to transfer surplus income or profit to government or declare dividends to meet budgeted ‘quota’ of receipts Finance Minister P...

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Moneylife Digital Team 11 February 2014
In a letter to the Principal Auditor General of Haryana, Dr Ashok Khemka, under attack for his pathbreaking effort to introduce better quality of roofing in food storage godowns, has openly identified two tainted senior officers as gunning for him because of personal reasons In response...

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Warren Buffett has become the world’s most successful investor by seeking out companies that make excellent capital allocation. How does this work?   We buy shares in specific companies because we use these companies as a means to participate in the business they do. For example, if I...

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Moneylife Digital Team 11 February 2014
During the current financial year, enforcement agencies seized 1,074kg of gold as against 326kg seized during the entire 2012-13 and arrested 514 people for smuggling of gold The Indian government on Tuesday said there has been a rise in cases of gold smuggling due to increase in customs...

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Moneylife Digital Team 11 February 2014
Kejriwal has reiterated what EAS Sarma, the former secretary to the GoI, has been saying over the years about Reliance Industries, its KG Basin operations, increase in gas prices and role played by the oil ministry Arvind Kejriwal-led Delhi government on Tuesday ordered filing of...

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