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Moneylife Digital Team 09 September 2010
Piramal Healthcare Ltd said following the sale of its domestic formulations business it received Rs10,271 crore as initial payment from to US-based Abbott Healthcare Ltd. Piramal had entered a definitive agreement with Abbott in May this year for sale of its domestic formulations business,...

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Moneylife Digital Team 09 September 2010
Lanco Infratech Ltd said its 1,320 MW (2x660) thermal power project being developed by its unit Lanco Babandh Power Ltd in Orissa, has achieved financial closure. The project, estimated to cost Rs6,930 crore, would be financed with a debt of Rs5,544 crore and an equity of Rs1,386 crore. A...

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Moneylife Digital Team 09 September 2010
New Delhi: The Insurance Regulatory and Development Authority (IRDA) today said that by end-September it will finalise the initial public offer (IPO) guidelines for non-life insurance companies that will allow them to raise funds from the capital market, reports PTI. "As regards the IPO of...

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Moneylife Digital Team 09 September 2010
Benchmark MF floats Infra BeES; Reliance MF introduces Reliance Index Fund-Sensex Plan; IndiaFirst launches Smart Save and Young India; MetLife India unveils Met Smart Platinum Benchmark MF floats Infra BeES Benchmark Mutual Fund has launched Infrastructure Benchmark Exchange Traded Scheme...

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Moneylife Digital Team 09 September 2010
New Delhi: State-run BHEL is exploring the possibility of formation of a separate finance company as a joint venture with a strategic partner to finance power projects, reports PTI. "We have floated EOI (Expression of Interest) for consultation for appointment of a consultant to work on ideas...

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Moneylife Digital Team 09 September 2010
Boston: Mukesh Ambani-led Reliance Industries (RIL) has been ranked second in the list of world's 10 biggest 'sustainable value creators'-companies that have been successful in creating the most shareholder value over the last decade-prepared by Boston Consulting Group (BCG), reports PTI. The...

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Moneylife Digital Team 09 September 2010
Somany Ceramics earns a healthy RoE of 25% and the stock is reasonably priced Somany Ceramics manufactures ceramic tiles from two plants in Haryana and Gujarat with a production capacity of 56,000sq mtr/day. It outsources 25,000sq mtr/day of low-end tile products to contractors in Gujarat....

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Moneylife Digital Team 09 September 2010
Initial public offers are a risky investment route; the investor has no control over the price at which he buys the stock Until a few years ago, initial public offers (IPOs) of companies created quite a lot of excitement and enthusiasm among investors. IPOs carried the promise of making...

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Moneylife Digital Team 09 September 2010
New Delhi: Domestic automobile sales continue to break record numbers with the Society of Indian Automobile Manufacturers (SIAM) today stating that the total vehicles sold in the country during August at 12,63,293 units was the highest ever achieved in a month, bettering the mark set in July...

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Moneylife Digital Team 08 September 2010
Mumbai: The Reserve Bank of India (RBI) has asked banks to work out a special concessional package for the crisis-ridden aviation sector, in response to which the lenders said they will look into the problems on a case-to-case basis, reports PTI. "The RBI has allowed in the case of aviation...

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Moneylife Digital Team 08 September 2010
The market opened on a subdued note this morning on weak global cues but buying in select stocks in the morning and noon session saw the benchmarks moving above the neutral line. However, the negative of the influential European markets took the domestic market in the red once again. While the...

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Moneylife Digital Team 08 September 2010
Mumbai: The Bombay High Court today dismissed Vodafone International's petition challenging an Income Tax (I-T) department order that demanded Rs12,000 crore in liabilities arising out of the company's $11 billion takeover of Hutchison Telecom, reports PTI. A division bench held that the I-T...

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Moneylife Digital Team 08 September 2010
Bajaj Finserv, the financial services arm of the Bajaj Group, has picked up a further 4.37% stake in its group firm Bajaj Auto Finance for Rs111.33 crore through open market transactions. As per the bulk deal data available with the National Stock Exchange, Bajaj Finserv yesterday bought...

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Moneylife Digital Team 08 September 2010
India Inc's merger and acquisition activity seems to be fading as the month of August was the leanest since September 2009 with total deal volume of $4.2 billion. According to research firm VCCEdge, August saw the lowest deals in the last 11 months which could be much better if "Vedanta's...

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Moneylife Digital Team 08 September 2010
Power equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) said it will sign a joint venture agreement with the government of Kerala to acquire the Kasargod unit of Kerala Electricals Ltd. No financial details of the deal were provided. Kerala Electricals, a public sector undertaking,...

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Moneylife Digital Team 08 September 2010
Piramal Healthcare Ltd said it has signed a definitive agreement with Super Religare Laboratories Ltd (SRLL) to acquire Piramal Diagnostic Services Ltd (PDSL), a subsidiary of Piramal. This deal is valued at Rs600 crore. Piramal will receive Rs300 crore on closing and the balance amount over...

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Munira Dongre 08 September 2010
Sugar stocks have started rising on hopes of decontrol, higher ethanol supply at better prices, and a narrowing global surplus. The narrowing surplus and cheap valuation could be the best reason to buy into these stocks at the moment Stocks such as Shree Renuka Sugars, EID Parry, Triveni...

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Moneylife Digital Team 08 September 2010
HDFC Mutual Fund launches HDFC FMP 100D September 2010 (1); SBI Mutual Fund introduces SBI Debt Fund Series-90 Days-34; DSP BlackRock MF announces dividend under DSP BlackRock India Tiger Fund; Birla Sun Life MF announces dividend under two equity schemes; IndiaBulls Housing Finance launches new...

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Moneylife Digital Team 08 September 2010
As our regular readers know, we love paper companies, especially when the underlying economic growth is strong and stock prices have not already run up. Two of our recommendations—Tamil Nadu Newsprint & Papers, and Seshasayee Paper & Boards—are up 57% and 26%, respectively. Here are two more...

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Moneylife Digital Team 07 September 2010
New Delhi: The country's third largest software exporter Wipro today said it may increase the billing rates of clients to mitigate the extra cost arising due to the hike in visa fee by the US government, reports PTI. "We will speak to our customers and seek price adjustments for the extra...

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