ECONOMY & NATION


Moneylife Digital Team 03 June 2013
The forum’s order came on the complaint by Delhi resident Pulastya Pramachala who had alleged that he had filed the refund request in April 2010, but it was not processed for over two years and then was rejected in May last year on the ground that he had filed the claim late Pulling up...

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Debashis Basu  and   Moneylife Digital Team 01 June 2013
Yesterday, when the Sensex was down 455 points, Infosys an index stock was up 3.32% while TCS and HCL Technologies were flat. On Saturday, Infosys announced that NR Narayana Murthy would come back as the executive chairman. A case of insider trading? We will never know because Infosys is a...

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Moneylife Digital Team 01 June 2013
The reshuffle also marks the entry of the next generation of Infosys founder with Murthy's son, Rohan, joining the over $7 billion firm as his father’s executive assistant In a major top management reshuffle, Infosys on Friday said it has re-appointed N R Narayana Murthy as executive...

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Moneylife Digital Team 01 June 2013
The increase in petrol price is the first in three months, the last hike being on 1st March. For diesel, this is the fifth increase in rates this year The government on Friday raised the price of petrol by 75 paisa per litre and diesel by 50 paisa a litre as the rupee hit 11-month low...

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Moneylife Digital Team 31 May 2013
KG-D6 fields, which began gas production in April 2009, had hit a peak of 69.43 mmscmd in March 2010 before water and sand ingress shut down well after well Reliance Industries (RIL) has reported that natural gas production at its eastern offshore KG-D6 fields dropped to less than 15...

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While auto recalls are making headlines, the fact remains that it is only voluntary. Not only European, Japanese or American markets, even China has a vehicle recall policy in place along with a penalty provision and criminal proceedings, if required Following the “voluntary code on...

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Moneylife Digital Team 31 May 2013
Accumulated losses as of 31 March 2013 stood at Rs16,023.46 crore and its networth on that date was a negative Rs12,919.81 crore Kingfisher Airlines, grounded since 1st October last year, today reported net loss at Rs2,141.80 crore for the quarter ended March 2013 compared to a loss of...

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Moneylife Digital Team 31 May 2013
The Economic Times reported that Warburg Pincus made 2.2 times on its investment in Havells. What was the compounded return in dollar-adjusted terms? A simple calculation shows that Warburg Pincus actually made only 55% returns in dollar terms over seven year or 6.4% compounded

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Moneylife Digital Team 31 May 2013
The applicants had sold shares comprising over 32% share capital of Wellman’s Homeopathic Laboratories between 30 December 2009 and 2 February 2010 in five tranches. However, disclosures were made in September 2010 with several weeks of delays The Securities and Exchange Board of India...

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Moneylife Digital Team 31 May 2013
The JD Power study said dealers felt an attractive range of vehicles was critical for them and the automakers to succeed in Indian markets Market research organization JD Power said, due to the increasing number of automobile dealers in India, one in five dealers expect to be in the red...

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Moneylife Digital Team 31 May 2013
In the backdrop of police action against Amway, corporate affairs minister Sachin Pilot had stated yesterday that the government is looking to remove the legal ambiguities to differentiate between fraudulent Ponzi schemes and genuine businesses run by “reputed and law-abiding”...

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Moneylife Digital Team 31 May 2013
Economic growth slowed down to 4.8% in the January-March quarter of 2012-13 compared to 5.1% in the same period previous fiscal   India’s economic growth slowed to 4.8% per cent in the January-March quarter and fell to a decade's low of 5% for the entire 2012-13 fiscal on poor...

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The oil ministry should return surrendered CBM blocks to the coal ministry so that it can allocate these to power generators as captive coal sources to meet their fuel needs. However, the coal ministry should lay strict time frames within which the allottees must start mining operations

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Moneylife Digital Team 30 May 2013
According to a report by the Expert Appraisal Committee under the MoEF, the petroleum major has also to get the Environmental Impact Assessment report and Environment Management Plan for the 9 MMTPA (million metric tonnes per annum) Complex The ministry of environment and forests (MoEF)...

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Moneylife Digital Team 30 May 2013
The company said the original intent of the draft shale gas policy to give right of first refusal to all operators, irrespective of where the blocks were awarded pre-NELP or in NELP, should be restored as it was “fair and reasonable” Oil and gas exploration major Cairn India has asked...

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Moneylife Digital Team 30 May 2013
For the fiscal 2012-13, the company said its standalone net profit was at Rs3,352.82 crore as compared to Rs2,878.89 crore in 2011-12   Leading SUV and tractor major Mahindra & Mahindra (M&M) today reported a marginal increase in its standalone net profit for the fourth quarter ended...

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Moneylife Digital Team 30 May 2013
With this upgrade, RIL is now rated higher than some of its global emerging market peers demonstrating the strength and competitive position of Reliance in the refining and petrochemicals sector Ratings agency Standard & Poor's (S&P) has raised the long-term corporate credit rating on...

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Moneylife Digital Team 30 May 2013
A complaint has been filed against two persons for allegedly duping Maharashtra State Electricity Distribution Co Ltd of Rs12.95 lakh A magistrate’s court in Mumbai has asked the police to register a case of criminal offence against two employees of a private agency collecting payment...

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Moneylife Digital Team 30 May 2013
Telecom minister Kapil Sibal has approved the recommendations of a DoT committee which stated that the maximum permissible financial penalty of Rs50 crore each for 13 circles where the violations took place may be imposed on Bharti Airtel   The Department of Telecom (DoT) is likely to...

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Moneylife Digital Team 29 May 2013
Fitch Ratings expect Indian telecom industry's average revenue per minute- ARPU to improve from the current level of 43 paise per minute in 2013 as competition abates Indian telecom companies' (telcos) gradual increase in voice tariffs demonstrates the restoration of some pricing power,...

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