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Moneylife Digital Team 30 March 2011
Apollo Tyres will hike prices of its products by up to 6% from April to offset spiralling raw material costs Apollo Tyres said it will hike prices of its products by up to 6% from April to offset spiralling raw material costs. The market leader also cautioned that the tyre industry could be...

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Moneylife Digital Team 30 March 2011
The open offer was delayed as the Securities and Exchange Board of India had sought certain clarifications from Kotak Mahindra Capital Co, the lead merchant banker for the offer Mumbai: US-listed iGate's open offer for buying a little over 20% stake in Indian IT company Patni Computer Systems...

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Moneylife Digital Team 30 March 2011
Reiterating the RBI's stance that SBI's special home loans are similar to the sub-prime loans lent in the US in the run-up to the 2008 global financial meltdown, SBI chief OP Bhatt said this view is beyond logic Mumbai: Outgoing State Bank of India (SBI) chairman Om Prakash Bhatt continued...

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Moneylife Digital Team 30 March 2011
In January this year, the telecom regulator had sought views of mobile operators on growth opportunities in value-added services, including policy framework and support infrastructure to usher in inclusive growth New Delhi: The Telecom Regulatory Authority of India (TRAI) today said it will...

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Moneylife Digital Team 30 March 2011
State-owned oil marketing companies have put Air India on cash-and-carry since December. Air India buys jet fuel worth Rs18.5 crore per day from the three state oil firms, but it pays only Rs13.5 crore. However, Air India sought discounts similar to the ones given to private airlines

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Moneylife Digital Team 30 March 2011
Intas Pharmaceuticals has filed documents with SEBI for an initial public offer that includes sale of fresh equity worth Rs425 crore Drug maker Intas Pharmaceuticals said it has filed documents with the market regulator Securities and Exchange Board of India (SEBI) for an initial public offer...

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Moneylife Digital Team 30 March 2011
Shares of PTC India Financial Services made a weak debut on the bourses today, shedding 9.28% vis-a-vis its issue price of Rs28 in the early trade on the BSE Shares of PTC India Financial Services made a weak debut on the bourses today, shedding 9.28% vis-a-vis its issue price of Rs28 in the...

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Moneylife Digital Team 30 March 2011
National Stock Exchange has launched a new index series CNX Smallcap Index today National Stock Exchange (NSE) has launched a new index series CNX Smallcap Index today. The move is aimed at developing an index that would meet the requirements of market participants. The index is designed...

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Moneylife Digital Team 30 March 2011
ICICI Prudential Mutual Fund new issue closes on 5th April ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 54-1 Year Plan B, a close-ended scheme. The investment objective of the plan is to seek to generate regular returns by investing in a portfolio...

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Moneylife Digital Team 30 March 2011
EPFO turned down the proposal to give three month extension to its other existing fund managers-ICICI Pru, HSBC and Reliance Capital-as their term was to expire on 31st March, and in an interim arrangement decided that SBI would manage the funds for a further three-month period New Delhi:...

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Moneylife Digital Team 30 March 2011
FIMI secretary general RK Sharma stated that the ban on exports of iron ore by the Karnataka government last July has taken a toll on the industry. Exports during the April2010-February 2011 period declined by 17.98% to 85.43 MT New Delhi: Continuing its declining trend for the eighth...

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Moneylife Digital Team 30 March 2011
According to the RBI, customers will get alerts on their e-mails for all transactions done through their debit or credit cards from 30 June 2011. The move is aimed at checking fraudulent transactions and encouraging usage of cards by customers Mumbai: Customers will get alerts on their...

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Moneylife Digital Team 30 March 2011
International Paper will buy 53.5% of APPM from parent LN Bangur group for $257 million in cash and make a public offer for an additional 21.5% of APPM’s shares for $104 million. It has also agreed to a $62 million non-compete payment to the sellers, taking the deal’s potential value to $423...

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Moneylife Digital Team 30 March 2011
The steady global economic recovery despite various setbacks has boosted investor sentiment worldwide Global cues indicate a positive opening for the Indian stock market. The US markets closed with gains in the range of 0.5%-1% on Tuesday while the Asian pack is in the positive zone in early...

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Moneylife Digital Team 29 March 2011
The real test for the market will be after Thursday The Sensex opened at 18,950, up seven points from its previous close and the Nifty resumed trade this morning unchanged at 5,687. The benchmarks touched the day's lows soon after the opening bell, but resumed their upward move on...

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Moneylife Digital Team 29 March 2011
NSDL says smart investors choose the demat route for mutual fund. But the really smart investors would not want to waste their money, or get into unnecessary hassles which the demat system involves Two years after the regulator pushed mutual fund investors down the stockbroker-demat route,...

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Moneylife Digital Team 29 March 2011
Dewan Housing Finance has acquired Deutsche Postbank Home Finance Ltd for Rs1,079 crore Dewan Housing Finance said it has acquired Deutsche Postbank Home Finance Ltd (DPHFL) for Rs1,079 crore. Along with Wadhawan Housing Pvt Ltd, Caledonia Investment and Amber, Dewan Housing has acquired a...

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Moneylife Digital Team 29 March 2011
KMC Constructions has received Rs500-crore investment in the company flagship KMC Infratech from 3i India Infrastructure, an investment fund established by global private equity firm 3i Group Plc KMC Constructions said it has received Rs500-crore investment in the company flagship KMC Infratech...

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Moneylife Digital Team 29 March 2011
Ashok Leyland and Nissan Motor Company have rolled out their first light commercial vehicle under the brand, “Ashok Leyland-DOST” Hinduja Group flagship company Ashok Leyland and Japanese auto-maker Nissan Motor Company have rolled out their first light commercial vehicle under the brand,...

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Moneylife Digital Team 29 March 2011
Axis Bank plans to launch six additional branches in Mumbai, taking the total number of its branches in Maharashtra to 181 by 31st March Private sector lender Axis Bank said it plans to launch six additional branches in Mumbai, taking the total number of its branches in Maharashtra to 181 by...

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