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Moneylife Digital Team 13 August 2010
Patel Engineering Ltd reported a net profit of Rs40 crore for the quarter ended 30 June 2010 as compared to Rs36.3 crore a year ago. In the June 2010 quarter, its net sales increased to Rs702.3 crore from Rs643 crore. On Friday, Patel Engineering shares closed 0.5% up to Rs412 on the...

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Moneylife Digital Team 13 August 2010
Subex Ltd, a provider of operations and business support systems for communications service providers, along with key partner IBM India Pvt Ltd, won a multi-million dollar contract from Idea Cellular Ltd. Subex and IBM will implement Subex's ROC for interconnect billing for the telecom...

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Moneylife Digital Team 13 August 2010
Kotak MF declares dividend under Kotak Quarterly Interval Plan Series 3 Kotak Mutual Fund has announced the declaration of dividend under the dividend option of Kotak Quarterly Interval Plan Series 3. The record date is 17 August 2010. The quantum of declaration will be 100% of distributable...

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Even when analysts get all the facts right, their own prejudices and personal incentives get in the way of accurate forecasts. But enormous opportunity exists for those analysts who manage to read the tea leaves right, despite the constraints Information is the raw material of the financial...

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Moneylife Digital Team 13 August 2010
New Delhi: Global ratings agency Standard & Poor's (S&P) today raised Tata Motors' credit ratings to positive citing improved performance by auto maker's premium brands Jaguar Land Rover, reports PTI. The upgrade to 'B+' from 'B' comes few days after Tata Motors clocked a consolidated net...

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Ravi Samalad 13 August 2010
The regulator has asked fund houses to furnish all investor-related documents by 22nd November which were opened via online distribution channels Asset management companies (AMCs) will not be allowed to open any new accounts if they do not possess all investor-related documents with them. A...

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Munira Dongre 13 August 2010
Cairn India: The market was crawling with rumours that Vedanta is in talks to take a stake in Cairn India. Mining companies: The government is proposing to make it mandatory for mining companies to share 26% of profits with local communities or to provide 26% equity in mining entities to the...

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Moneylife Digital Team 13 August 2010
New Delhi: Udaipur-based Bank of Rajasthan (BoR) today became part of the country's largest private sector lender ICICI Bank following the Reserve Bank of India (RBI) approval to merger proposal of the two lenders, reports PTI. All 463 branches of BoR have started functioning as ICICI Bank's as...

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Moneylife Digital Team 13 August 2010
New Delhi: State-owned Coal India Ltd (CIL) today said it would become India's largest listed employer among the firms registered on the bourses, after completion of its public issue, reports PTI. "Post listing, Coal India will become the largest employer amongst listed entities in the...

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Moneylife Digital Team 13 August 2010
Another scheme — the Tata Natural Resources Fund — has entered this space, but there is nothing which this fund can deliver that existing equity funds cannot Three are three natural resources funds which were all launched in 2008 when the commodities boom was at its peak. Two of the three have...

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Moneylife Digital Team 13 August 2010
The Sensex valuation has factored in a 20% growth in operating profit for the entire fiscal year 2011; but Q1 has been a damper. What if the growth does not resume in the next two quarters? Till today 26 of the 30 companies that make up the Bombay Stock Exchange (BSE) Sensex have put out their...

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Moneylife Digital Team 13 August 2010
New Delhi: Cairn India today clarified that its UK-based parent Cairn Energy Plc is unlikely to exit completely from the company, reports PTI. "To me it looks like they (Cairn Energy Plc) are not exiting completely," Cairn India CEO Rahul Dhir said after a meeting with oil secretary S...

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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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