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Moneylife Digital Team 20 November 2010
Global cues and institutional outflows were responsible for the Indian market ending lower for the second week in a row. The 2G spectrum allocation scandal, which has rocked the government, was responsible for the sharp plunge on Friday. Monthly inflation data for September, along with buying...

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Moneylife Digital Team 19 November 2010
New Delhi: Hindustan Construction Company (HCC) today said its subsidiary, Lavasa Corporation, has been given the green signal for a Rs2,000 crore initial public offer (IPO) by the Securities and Exchange Board of India (SEBI), reports PTI. "... Lavasa Corporation Ltd, subsidiary company of...

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Moneylife Digital Team 19 November 2010
New York: Reliance Industries (RIL) chairman Mukesh Ambani has said that his group is in the process of finalising partnerships with many US universities for establishing a world-class varsity in India, reports PTI. Billionaire Mr Ambani's wife Nita Ambani is leading the efforts for setting up...

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Moneylife Digital Team 19 November 2010
Company plans to acquire manganese reserves in South Africa, but poor infrastructure could increase costs significantly, says an official Manganese Ore India Limited's (MOIL ) plans to acquire vast reserves of manganese in South Africa could prove costly for the company as the country lacks...

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Moneylife Digital Team 19 November 2010
New Delhi: India's sugar output in the 2010-11 season is estimated at 24.5 million tonnes (MT) against the annual domestic demand of 22.5-23 MT, the government today informed Rajya Sabha, reports PTI. "The production of sugar during current sugar season (October-September) 2010-11 is...

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Moneylife Digital Team 19 November 2010
Hyderabad: The Insurance Regulatory Authority of India (IRDA) today gave a clean chit to Life Insurance Corporation of India (LIC), the largest insurance company in India, in the case of alleged violation of rules pertaining to transfer of profits among its various schemes, reports PTI. The...

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Moneylife Digital Team 19 November 2010
Triveni Engineering & Industries Ltd, engaged in the manufacture of sugar and engineered-to-order mechanical equipment, said its net profit for the fourth quarter ended 30 September 2010, declined to Rs17.25 crore from Rs68.22 crore in the corresponding quarter last year. During the Q4...

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Moneylife Digital Team 19 November 2010
New Delhi: Handicrafts exports grew by a robust 58.55% year-on-year to $41.73 million in October, 2010, on the back of increasing demand from the US and European markets, reports PTI. Handicraft exports stood at $26.32 million in October, 2009, according to data provided by the Export Promotion...

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Moneylife Digital Team 19 November 2010
The Indian market was in sync with its Asian peers for a major portion of the trading session today. However, while the former ended mixed, the local bourses saw a major correction on institutional sell-off in the late session causing the market to close sharply lower. The domestic market...

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Moneylife Digital Team 19 November 2010
Auto major Hindustan Motors Ltd said that it aims to double the sales of its Ambassador car to 24,000 units per annum in the next 15-18 months through launch of new variants. The company plans to launch six new variants in both passenger and commercial vehicle segments in the next 12-15...

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Moneylife Digital Team 19 November 2010
APL Apollo Tubes Ltd said it has acquired Lloyds Line Pipes, a Maharashtra-based manufacturer of steel tubes and pipes. The acquisition, worth Rs40 crore, has been completed in an all-cash deal. The Lloyds Line Pipes facilities will help APL Apollo manufacture up to 14-inch tubes. Located...

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Moneylife Digital Team 19 November 2010
State-run Indian Oil Corporation Ltd (IOC) said it will invest about Rs900 crore to pick up a 26% stake in Nuclear Power Corporation of India Ltd's (NPCIL) 1,400MW atomic power project at Kota, in Rajasthan. NPCIL is setting up a 1,400MW (2x700MW) power plant, which is scheduled for...

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Moneylife Digital Team 19 November 2010
IT major Patni Computer Systems Ltd said it has won a five-year contract, worth more than £20 million (more than Rs145 crore) from UK-based IT services provider 2e2. The contract will provide a range of support services for 2e2's end-user clients and the delivery of in-house support services.

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Moneylife Digital Team 19 November 2010
New Delhi: India Inc's shopping spree for October remained unabated with 46 merger and acquisition transactions (M&A) worth over $530 million taking place during the period and the year-to-date deal touching a whopping $42.76 billion in value terms, reports PTI. According to global consultancy...

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Moneylife Digital Team 19 November 2010
Chandigarh: The Wool and Woollens Export Promotion Council (WWEPC) has urged the textiles ministry to restore the old rates of duty drawback on wool products to reduce exporters' losses due to forex rate fluctuation, reports PTI. With exporters unlikely to achieve the $630 million target for...

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Moneylife Digital Team 19 November 2010
Sundaram MF launches Sundaram Fixed Term Plan-AQ; Fidelity MF unveils Short Term Income Fund; Sundaram MF floats Sundaram Fixed Term Plan-AR; HDFC Life launches single premium ULIP ProGrowth Maximiser; IndiaFirst Life Insurance introduces 'Ask Apply Get' service Sundaram MF launches Sundaram...

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Moneylife Digital Team 19 November 2010
New Delhi: The oil ministry was today firm that it will consider approval for the $8.48 billion Cairn-Vedanta deal only after UK-based Cairn Energy makes a formal application for transfer of control in all its 10 properties in the country, reports PTI. Cairn's current application seeking...

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It was one of its kind, backed by savvy private equity investors and the seal of approval from Narayana Murthy, no less. But SKS has landed investors in a soup. Glamour stocks like SKS usually disappoint. Here’s why SKS Microfinance was supposed to be one of its kind—the only listed stock...

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Moneylife Digital Team 19 November 2010
The bulls, riding on a wave of emerging market mania, are on the rampage again. While there are worries about overvaluation, the fact is that Indian markets have been much more overvalued in the past, especially back in 1994. It was the foreigners who caused that bubble and also the two...

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Moneylife Digital Team 19 November 2010
The Indian market is likely to open in the green tracking positive global cues. The telecom sector that is in the news on account of the spectrum scam will be closely tracked by investors. Wall Street closed higher on Thursday with major indices clocking their biggest gains in two weeks. Markets...

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