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Moneylife Digital Team 13 August 2010
New Delhi: Parliament on Thursday passed a bill allowing the government to reduce its stake in State Bank of India (SBI) to the bare minimum of 51%, reports PTI. The stipulation so far has been that the government can dilute its stake up to 55%. If the government chooses to dilute its stake,...

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Moneylife Digital Team 13 August 2010
The market is likely to see a flat opening today. Wall Street ended in the red for the third day in a row on a rise in jobless claims and Cisco forecasting lower-than-expected sales. Asian markets are trading mixed this morning. The SGX Nifty is down 1.5 points at 5,416.50 over its previous...

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Moneylife Digital Team 12 August 2010
New Delhi: Stepping up the pressure on BlackBerry mobile phone services, the government today asked the phone-makers Research In Motion (RIM) as well as telecom operators to provide a technical solution by 31st August or face ban, reports PTI. In a letter to the Department of Telecom (DoT)...

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Moneylife Digital Team 12 August 2010
New Delhi: Scottish oil explorer Cairn Energy Plc today said it is in talks to sell stake in its Indian unit, Cairn India, which owns the massive Rajasthan oilfields, reports PTI. Though Cairn Energy did not identify the suitor, speculation is rife that it could be India-focused miner Vedanta...

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Moneylife Digital Team 12 August 2010
New Delhi: Suspended since July, the cashless treatment facility by PSU insurers is likely to be restored fully in Delhi hospitals within a week, but the insured might have to pay higher premiums for treatment in super specialty medical centres, reports PTI. "I am hopeful that cashless...

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Ravi Samalad 12 August 2010
The industry body will tweak ARN registration and renewal norms from 1 September 2010 After announcing a sharp hike in AMFI Registration Number (ARN) renewal fees across the board in May this year, the Association of Mutual Funds in India is all set to tighten the noose on mutual fund...

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Moneylife Digital Team 12 August 2010
Since the market is headed nowhere, you have to dig deeper. Look at these stocks that are growing fast and are valued low, suggests Moneylife Research Desk On 6 January 2010, the Sensex was at around 17,700. At the time of writing this article, it was a shade higher. Seven months into the year,...

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Moneylife Digital Team 12 August 2010
Infrastructure and realty development company Marg Ltd said its net profit for the first quarter rose to Rs11.3 crore from Rs11.1 crore in the same quarter last year.  During the June 2010 quarter, its total revenues increased to Rs174.8 crore from Rs122.7 crore, the company said in a filing...

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Moneylife Digital Team 12 August 2010
Hyderabad-based Nagarjuna Construction Company Ltd has won orders worth Rs673 crore. The company received two orders worth Rs254 crore from the Commissionerate of Health, Ahmedabad, for construction of hospital buildings. The work is expected to be completed in 30 months. It has received...

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Moneylife Digital Team 12 August 2010
IT services company Mindteck (India) Ltd said its net profit for the first quarter increased to Rs2.2 crore from Rs0.7 crore for the same quarter last fiscal. In the June 2010 quarter, the Bengaluru-based company's total revenues increased to Rs13.8 crore from Rs12.5 crore. On Thursday,...

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Moneylife Digital Team 12 August 2010
Arshiya International Ltd, a supply chain and logistics infrastructure solutions company, said its consolidated net profit for the first quarter increased 40% to Rs16.5 crore from Rs11.8 crore in the corresponding quarter last fiscal. In the June 2010 quarter, its total revenues rose 76% to...

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Moneylife Digital Team 12 August 2010
Tips Industries Ltd registered a net loss of Rs12.3 crore for the first quarter as against the profit of Rs1.3 crore in the same quarter last year. In the June 2010 quarter, its total revenues increased to Rs19.5 crore from Rs5.7 crore, said the company in a filing to Bombay Stock Exchange...

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Moneylife Digital Team 12 August 2010
Parsvnath Developers Ltd said its first quarter net profit stood at Rs32 crore, a growth of 129%, from Rs14 crore in the same period last fiscal. For the June 2010 quarter, Parsvnath's total revenues increased to Rs259 crore, a rise of 118%, from Rs119 crore. On Thursday, Parsvnath...

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Moneylife Digital Team 12 August 2010
Polyester film producer Jindal Poly Films Ltd said its net profit for the first quarter declined to Rs83.5 crore from Rs84.8 crore in the same quarter last year. During the June 2010 quarter, its total revenues increased to Rs555.6 crore from Rs375 crore, said the company in a regulatory...

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Moneylife Digital Team 12 August 2010
Financial Technologies India Ltd (FinTech) registered net profit of Rs45.6 crore for the first quarter, a growth of more than two fold, as compared to Rs20.5 crore for the corresponding quarter last year. Its total revenues for the June 2010 quarter increased to Rs73.6 crore from Rs58.5...

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ETFs are a traded product. But trading volumes are pathetic. Why would you buy them? Exchange traded funds (ETFs) are hot. Very recently, a spate of gold ETFs were in the market. Then came a specialised index ETF by Motilal Oswal Mutual Fund. Benchmark Mutual Fund, which pioneered ETFs in...

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Moneylife Digital Team 12 August 2010
Telecom operator Sistema Shyam TeleServices Ltd (SSTL) said state-run lender State Bank of India has sanctioned it a loan of Rs1,300 crore and its parent Russia-based JFSC Sistema is the corporate guarantor for the same. SSTL said it plans to use the loan to fund expansion plans of its brand...

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SEBI and BSE continue to ignore market manipulation but the Cals Refineries case is too glaring Even as the Securities and Exchange Board of India (SEBI) ensures that there is no competition to the two existing stock exchanges, the market is rife with manipulation. Take the example of Cals...

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Moneylife Digital Team 12 August 2010
Mumbai: Mumbai harbour reopened for traffic today, five days after it was suspended following a collision between two cargo ships that led to an oil spill, with the Indian Navy escorting 12 freighters in and out of the port reports PTI. The traffic resumed after the Coast Guard and other...

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Moneylife Digital Team 12 August 2010
New Delhi: A Group of Ministers (GoM) is expected to soon clear the proposal that companies share 26% of profits from their mining projects with the displaced, reports PTI quoting a mines ministry official. The GoM is likely to meet this week to discuss the compensation scheme as laid out in...

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