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S Rodrigues 24 August 2010
The IFA (Independent/Individual Financial Advisor) is on life support — suspected dead — and the prime suspect is the Securities and Exchange Board of India (SEBI). The acronym is alternatively called in a parallel world, the Systematic Elimination of Brokers and Intermediaries Now the...

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Moneylife Digital Team 24 August 2010
New Delhi: In a big blow to Vedanta Resources, the government today rejected environment clearance to its $1.7 billion bauxite mining project in Orissa after accepting recommendations of its key panel clearing such ventures, reports PTI. Giving reasons for the denial of clearance, environment...

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R Balakrishnan on saving  and   investing prudently 23 August 2010
It is the distributor who expands the market, as was proved again when a foreign bank raised Rs1,000 crore for its PMS when MFs are losing assets There is a lot of discussion over the fact that mutual funds are not able to increase their assets under management. The reason for this is simple....

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Moneylife Digital Team 23 August 2010
New Delhi: Indian GSM operators added 11.52 million new subscribers in July, taking the total base to 468.11 million, reports PTI. According to data released by Cellular Operators Association of India (COAI), the subscriber base of four metros - Delhi, Mumbai, Chennai and Kolkata - stood at...

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Moneylife Digital Team 23 August 2010
New Delhi: State-owned Oil & Natural Gas Corporation (ONGC), Oil India Ltd (OIL) and Gas Authority of India Ltd (GAIL) may make a joint bid to counter Vedanta Resources' $8.48 billion offer for majority stake in Cairn India, and have already got $10 billion in loan commitments from international...

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Ravi Samalad 23 August 2010
AMFI committee has asked fund houses to implement KYC norms for all investments below Rs50,000 who invest via channel distributors from 1st October. The Association of Mutual Funds in India (AMFI) committee on know your customer (KYC) has asked mutual fund houses to initiate KYC procedure for...

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Moneylife Digital Team 23 August 2010
Astec Lifesciences Ltd, a producer of agrochemicals and pharmaceutical intermediates, has acquired 10 acres of land in Maharashtra Industrial Development Corporation (MIDC) at Mahad to set up additional manufacturing facilities. This site is located a few kilometres from the company's...

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Moneylife Digital Team 23 August 2010
Beckons Industries Ltd said it is undertaking measurement, monitor and validation (MMV) process in Goa and has produced 125 times more algae with its newly developed photo bio reactor (PBR) than the existing PBR's developed across the globe. BIL said it completed the validation of scientific...

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Moneylife Digital Team 23 August 2010
Engineering, construction and procurement (EPC) company, Jaihind Projects Ltd, said its net profit for the June 2010 quarter rose 22.5% to Rs6 crore from Rs4.9 crore in the same quarter last year. In the June 2010 quarter, its total revenues increased to Rs72.4 crore from Rs64.3 crore....

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Moneylife Digital Team 23 August 2010
Sturdy Industries Ltd said it will set up a project worth Rs111 crore at Chaygaun, near Guwahati in Assam, to manufacture ABC cables and conductors, aluminium profiles and other aluminium products. The company has already taken land on lease from Assam Industrial Development Corporation to...

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Moneylife Digital Team 23 August 2010
ARSS Infrastructure Projects Ltd said it has won an order worth Rs103.7 crore from National Highways, Orissa. On Monday, ARSS Infra shares ended 1.3% up at Rs1,319 on the Bombay Stock Exchange, while the benchmark Sensex closed flat at 18,409 points.

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Moneylife Digital Team 23 August 2010
Construction and engineering company Larsen & Toubro Ltd (L&T) said it has won two projects worth Rs1,195 crore from ONGC Ltd to set up additional processing units (APUs) at Hazira in Gujarat and Uran near Mumbai. The APU project in Uran shall increase the gas processing capacity of ONGC by...

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Moneylife Digital Team 23 August 2010
All parents dream of offering their children the best education. As the child progresses through the years, they realise (often too late) that this dream comes at a sizeable cost. The result is that parents are faced with a crisis situation when the child needs their support the most. Very...

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Munira Dongre 23 August 2010
Union minister for environment Jairam Ramesh comes down hard on projects that violate environment norms Stocks of several companies may get trampled under the charge of the environment ministry with maverick minister Jairam Ramesh at the helm as he comes down hard on projects that are in...

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Moneylife Digital Team 23 August 2010
Deutsche MF launches DWS Hybrid Fixed Term Fund-Series 1; L&T Mutual Fund introduces new fixed maturity plan; DSP BlackRock MF unveils DSP BlackRock FMP-3M-Series 19; HSBC Mutual Fund revises exit load structure under two schemes; Birla Sun Life MF declares dividend under two schemes; ICICI...

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Moneylife Digital Team 23 August 2010
By 2013-15, India will outpace China’s growth, predicts Morgan Stanley, basing its arguments on the same old demographic facts. A Morgan Stanley (MS) report dated 13th August makes a bold statement: By 2013-15, India will start outpacing China’s gross domestic product (GDP) growth. Author...

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Moneylife Digital Team 23 August 2010
New Delhi: The government today extended sops worth Rs1,052 crore to exporters, particularly for the labour-intensive textile, handicrafts and leather sectors, to help them see through the fragile economic recovery globally, reports PTI. "We are not yet out of the woods," commerce and industry...

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Moneylife Digital Team 23 August 2010
Mumbai: Auto and utility vehicles major Mahindra & Mahindra (M&M) today said it has entered into an agreement to acquire a majority stake in beleaguered South Korean vehicle maker Ssangyong Motor Company, reports PTI. In a filing to the Bombay Stock Exchange (BSE), M&M said that it has...

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Moneylife Digital Team 21 August 2010
The market started the week on a dull note, on the back of unsupportive global cues. It managed to pull itself together with a flat close on Tuesday. The benchmarks ended with splendid gains for the next two days on institutional support. The Sensex added 406 points and the Nifty gained 126...

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Moneylife Digital Team 20 August 2010
New Delhi: The Insurance Regulatory & Development Authority (IRDA) has imposed a penalty of Rs5 lakh each on two life insurers — state-run Life Insurance Corporation (LIC) and HDFC Life Insurance — for failing to meet rural and social sector obligation in 2008-09, reports PTI. IRDA has...

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