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Moneylife Digital Team 05 August 2010
Kotak MF announces dividend under Kotak Quarterly Interval Plan Series 6 Kotak Mutual Fund has approved the declaration of dividend under the dividend option of Kotak Quarterly Interval Plan Series 6. The quantum of declaration will be 100% of distributable surplus as available under the...

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Moneylife Digital Team 05 August 2010
New Delhi: The government will soon unveil an investment policy for the urea sector, which would also help revive eight public sector urea factories now lying closed, reports PTI. "A new investment policy is being worked out. It will be unveiled within a month," minister of state for chemicals...

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Moneylife Digital Team 05 August 2010
New Delhi: Bharti Airtel, Vodafone, Reliance Communications (RCom) and other GSM telephone operators owe government over Rs451 crore in license fee and spectrum charges, reports PTI. "The total amount outstanding including interest against GSM operators as on 31 March, 2010 is Rs451.74 crore,"...

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Moneylife Digital Team 05 August 2010
Cement companies report fall in net sales and net profits due to sluggish demand and fall in prices Most cement companies - except for Ambuja Cements - have reported a fall in their net profits for the June quarter. Sluggish demand along with oversupply in the market has led the sector's...

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Did he pay the price for bringing in some order in the functioning of certain RBI departments? A section of the banking world, including central bankers are aghast at the extraordinary action of the Reserve Bank of India governor in stripping off Deputy Governor, Dr K C Chakrabarty of most of...

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Moneylife Digital Team 04 August 2010
Mumbai: Anil Dhirubhai Ambani Group (ADAG)-controlled Reliance Communications (RCom) expects to roll out third generation (3G) services by this year-end or early next year, reports PTI. "We expect that the government will allocate spectrum by September, following which we will start the roll...

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Moneylife Digital Team 04 August 2010
Hyderabad: The Andhra Pradesh government today decided to award the Rs12,132 crore Hyderabad Metro Rail Project to Larsen and Toubro Limited (L&T). The state Cabinet, which met here today under the chairmanship of chief minister K Rosaiah, approved the recommendations of a three-member...

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Moneylife Digital Team 04 August 2010
Telecom operator Reliance Communications Ltd (RCom) said it partnered with Universal Music to offer music-related services and content across its GSM, CDMA, 3G Mobile and Wireless Broadband platforms including Voice, WAP, Web, IVR, blog and through on-ground events. RCOM has got the license...

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Moneylife Digital Team 04 August 2010
Fully drawn yarn manufacturer Nakoda Ltd said its second quarter net profit increased 39% to Rs7.8 crore as against Rs5.6 crore in the corresponding period last fiscal. During the June 2010 quarter, the company's total revenues rose 23% to Rs309 crore, from Rs251 crore, same period last year.

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Moneylife Digital Team 04 August 2010
Welspun India Ltd said its net profit declined more than two fold to Rs15.6 crore in the April-June 2010 quarter from Rs33.3 crore in the same quarter last year. Its total revenues increased to Rs461.3 crore in the June 2010 quarter from Rs417.8 crore in the corresponding quarter last year.

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Moneylife Digital Team 04 August 2010
Ruchi Soya Industries Ltd said its first quarter net profit rose 4.5% to Rs52.4 crore from Rs50.2 crore in the same quarter a year ago. In the June 2010 quarter, the company's total revenues increased 11.5% to Rs3,469.1 crore from Rs3,112.1 crore a year ago. On Wednesday, Ruchi Soya Industries...

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Moneylife Digital Team 04 August 2010
New Delhi-based Fedders Lloyd Corp Ltd registered a net profit of Rs14 crore for the April-June 2010 quarter as compared to Rs6.9 crore in the same quarter a year ago. During the June 2010 quarter, the company's total revenue increased to Rs222.5 crore from Rs180.8 crore in June 2009 quarter, it...

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Moneylife Digital Team 04 August 2010
The Adani Group led Mundra Port and Special Economic Zone Ltd reported a net profit of Rs211.3 crore for the first quarter ended 30 June 2010 as compared to Rs170.8 crore for the same quarter last year. Its total revenue has increased to Rs416.4 crore for the April-June 2010 from Rs321.4...

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Moneylife Digital Team 04 August 2010
Engineering and construction company Larsen & Toubro Ltd (L&T) said its buildings and factories unit secured orders worth Rs1,025 crore for the construction of various projects. The projects include construction of two hospital buildings, residential projects in Mumbai and a cement plant for...

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Moneylife Digital Team 04 August 2010
SHCIL is new PoPs for pension system for all citizens Finance services company Stock Holding Corporation of India Ltd (SHCIL) has been appointed as Points of Presence (PoP) for collecting pension contributions from all citizens. PoPs are contact and collection points for customers wanting to be...

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Moneylife Digital Team 04 August 2010
New Delhi: The ministry of heavy industries and public enterprises today said it has sought imposition of up to 14% customs duty on import of power equipment to provide a cushion to domestic manufacturers like BHEL against cheaper imports, reports PTI. "That (import duty) recommendation my...

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Moneylife Digital Team 04 August 2010
New Delhi: The power ministry is considering setting up of a Rs50,000 crore fund for financing projects and may rope in state-run lenders Power Finance Corporation Ltd (PFC) and Rural Electrification Corporation Ltd (REC) for the same, reports PTI. "The concept is being thought about to...

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Amritha Pillay 04 August 2010
In yet another attempt to ensure more funding  for infrastructure, the RBI last month opened up the sector to the ‘takeout financing’ scheme. However, a few industry sources believe this move will help foreign lenders more The Reserve Bank of India (RBI) has issued banking guidelines for...

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RBI’s decision to strip Dr KC Chakrabarty of many important portfolios raises broader issues about transparency in the central bank’s functioning The Reserve Bank of India's (RBI) decision to strip deputy governor Dr KC Chakrabarty of many of his powers on 3rd August has caused a flutter in the...

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Moneylife Digital Team 04 August 2010
Mumbai: Having sold a record one lakh scooters in a span of just 10 months, auto major Mahindra & Mahindra (M&M) is now firming up plans to enter the domestic motorcycle market by end-this year, reports PTI. "We have achieved a milestone by selling one lakh scooters in just 10 months as...

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