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Moneylife Digital Team 08 October 2010
New Delhi: JSW Steel has registered an 8% growth in crude steel production in the first half of the FY11at 3.14 million tonnes (mt) as compared to the corresponding period last year, reports PTI. The company said in a statement today that production of flat steel products-used primarily by the...

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Moneylife Digital Team 08 October 2010
Global economic concerns and pressures from institutional investors led the Indian market lower for the second day in a row. The recent rally was due for a correction and investors made use of the opportunity to book profits. The market opened sideways in the absence of supportive global cues....

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Moneylife Digital Team 08 October 2010
New Delhi: Mahindra & Mahindra (M&M) said today that it has advanced the period for redeeming the outstanding Foreign Currency Convertible Bonds (FCCBs) worth $141.2 million to this year from the earlier 14 April 2011, reports PTI. "M&M today issued a notice for early redemption of its...

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Moneylife Digital Team 08 October 2010
Pesticides manufacturer Nagarjuna Agrichem Ltd said it installed three wind turbine generators of 2.1 MW each in Tirunelveli District, Tamil Nadu. The project cost is about Rs34 crore. The company said it expects to generate around 46 lakh kWh/PA per wind turbine generator. On Friday,...

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Moneylife Digital Team 08 October 2010
Construction and engineering company Punj Lloyd said it won a contract worth Rs539 crore from state-owned gas utility GAIL India for laying a natural gas pipeline from Dabhol to Bangalore. Punj Lloyd will be laying seven spreads (sections) comprising 820 km of the pipeline, the company said in...

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Moneylife Digital Team 08 October 2010
Construction and engineering company Larsen & Toubro Ltd (L&T) said its buildings and factories division won orders worth Rs1,585 crore in the second quarter for construction of residential projects, factories, office space and hotel. L&T received new orders aggregating Rs435crore for the...

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Moneylife Digital Team 08 October 2010
Tata Steel Ltd said its sales increased 14% to 1.66 million tonnes (mt) in July-September quarter due to rise in demand for its products. "Tata Steel sold 1.46 mt in the second quarter of the last fiscal. For the half-year ended 30 September 2010, it sold 6% more steel products at 3.06 mt...

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Moneylife Digital Team 08 October 2010
ONGC Teri Biotech Ltd (OTBL) said it is competing with 12 companies for a contract worth about Rs13,300 crore from Kuwait Oil Corp. The project includes cleaning up a desert oil slick created in the Gulf war that followed Iraq's invasion of Kuwait in 1990. OTBL is a joint venture between Oil...

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Munira Dongre 08 October 2010
Citi says supply & demand for fertilisers continues to shift east, urea prices are correcting, DAP prices could slow down in the near term, and capacity is expected to exceed demand. For a net importer of fertiliser such as India, this could be good news Citi attended the Gulf Petrochemicals &...

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Moneylife Digital Team 08 October 2010
Mumbai: Global financial services firm Barclays Bank has acquired a 12.75% equity stake in BPO company Intelenet Global Services, reports PTI. "Barclays Bank has acquired 12.75% fresh equity issue in SKR BPO Services, the holding company of Intelenet Global Services," Intelenet managing...

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Moneylife Digital Team 08 October 2010
Here is what analysts are expecting from these sectors Yesterday (http://www.moneylife.in/article/8/9771.html) we had written on how analysts are expecting the metals, financials, petrochemicals, engineering and retail sectors to come out with good numbers. Sectors like cement, telecom and real...

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What’s in a colour, you may ask. But why are the authorities trying to tinker with the iconic Mumbai taxi? It has been reported that Mumbai's trademark black-and-yellow Premier Padmini/Fiat 1100 taxis will soon be totally replaced by other makes and models that will don new colours - beige and...

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The markets are rising on hopes of uninterrupted profit. But they could turn treacherous soon Some people seem to think there's no trouble just because it hasn't happened yet. If you jump out of the window at the 42nd floor and you're still doing fine as you pass the 27th floor, that doesn't...

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Moneylife Digital Team 08 October 2010
Birla Sun Life files offer document with SEBI to launch Birla Sun Life Gold ETF; JM Financial Mutual Fund files offer document with SEBI to float JM Fixed Maturity Fund-Series XIX; Canara Robeco MF files offer document with SEBI to introduce Canara Suraksha Fund-Series 1; IDFC Mutual Fund files...

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Munira Dongre 08 October 2010
Indiabulls Finanical: The buzz seems to be around Anil Dhirubhai Ambani Group's buying 26% stake from Indiabulls Financial Services in the Indian Commodity Exchange, which was jointly founded by Indiabulls and trading giant MMTC. Since Indiabulls has said it will completely exit the exchange...

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Moneylife Digital Team 08 October 2010
New Delhi: Domestic passenger car sales jumped by 30.38% to 1,69,082 units in September, compared to 1,29,684 units in the corresponding month last year, reports PTI. This was the best performance by any category in the auto sector last month. According to numbers from the Society of Indian...

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While on the ambiguous governance standards at SEBI, most people have forgotten Dr Mohan Gopal, the SEBI director who was part of the two-member bench (former RBI deputy governor Leeladhar was the other member), whose order was discarded, discredited and declared ‘null and void’ by the SEBI...

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Moneylife Digital Team 08 October 2010
Mumbai: Ramky Infrastructure, the flagship company of the Ramky Group, had a mixed debut on the stock exchanges today. The stock opened flat on the Bombay Stock Exchange, against its issue price of Rs450, then slipped over 12% to Rs393.75 in the first hour of trade. It did better on the...

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Moneylife Digital Team 08 October 2010
Mumbai: Electrosteel Steels today made a handsome debut on the Bombay Stock Exchange, opening at Rs12.35, or over 12% up from its issue price of Rs 11, reports PTI. On the National Stock Exchange, however, the opening was quite different at Rs11.15, or just 1.36%. In terms of volume about 14.60...

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Moneylife Digital Team 08 October 2010
The Indian market is likely to open on a flat-to-positive note on tepid cues from the global markets. Wall Street settled lower overnight on speculations that earnings reports and the monthly jobs data, due later today, might not match expectations. The Asian markets were mixed this morning on...

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