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Posted: February 28th, 2012, 5:53pm EST
Unitech Ltd MD Sanjay Chandra, an accused in the 2G scam, was a director in some of the alleged Unitech group firms, which were later merged to form Unitech Wireless (Tamil Nadu) Pvt Ltd.
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Posted: February 28th, 2012, 5:50pm EST
State Bank of India's general insurance arm has decided to pioneer profile-based pricing of motor insurance. What this means is that the cost of insurance will depend on the individual as much as the age of the vehicle.
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Posted: February 28th, 2012, 5:48pm EST
State-owned ONGC and GAIL India have confirmed their interest in bidding for UK-based Cove Energy, sending its shares to a new high of 245 pence in London market on Tuesday.
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Posted: February 28th, 2012, 5:43pm EST
Oil minister Jaipal Reddy on Tuesday announced the government's plans to sell 5% equity in ONGC by March 1. He said the floor price would be conveyed to the stock exchanges soon to enable them to start the process.
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Posted: February 28th, 2012, 5:40pm EST
Be ready to shell out 15% more on diesel and cooking fuel as the government is likely to hike the prices of these sensitive petroleum products soon, according to Crisil Research.
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Posted: February 28th, 2012, 5:38pm EST
His father was in the West Bengal civil service, his mother an employee of the Food Corporation of India. Nonetheless, Angshujyoti Das seems to have been born with an entrepreneurial gene.
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Posted: February 28th, 2012, 5:36pm EST
Increasing the 2G headache for the government, Russian conglomerate Sistema JSFC, majority shareholder in Sistema Shyam Teleservices (SSTL).
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Posted: February 28th, 2012, 5:33pm EST
C Sivasankaran, who scripted a rags-to-riches story riding the telecom wave, is calling it quits.
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Posted: February 28th, 2012, 5:03pm EST
Price Waterhouse (PW) Bangalore, the tainted auditor of scam-hit Satyam, utilized over 95% of a $60-million (Rs 280 crore approximately) insurance cover available to all Price Waterhouse entities in India to meet post-fraud litigation expenses.
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Posted: February 28th, 2012, 5:01pm EST
A strong rally in banking stocks helped the sensex reverse its four-session losing streak to close 285 points higher at 17,731 on Tuesday.
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Posted: February 28th, 2012, 4:59pm EST
Kingfisher Airline is now unable to pay the daily cash-and-carry amount to the Airports Authority of India (AAI) and has accumulated dues of Rs 5 crore in past week, government officials said.
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Posted: February 28th, 2012, 4:58pm EST
Growth in the eight key core industries slowed to 0.5% in January, dragged down by a decline in natural gas, crude oil, steel and petroleum refinery products.
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Posted: February 28th, 2012, 4:56pm EST
When the government approves a project, it is to be awarded in one go. But the Tuticorin Port Trust (TPT) decided to go against the established norm and split a contract.
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Posted: February 28th, 2012, 4:56pm EST
NTPC on Tuesday signed a long-term agreement to supply 250 mw to Bangladesh Power Development Board, making it the first Indian generation utility to ink a deal for exporting electricity to a neighbouring country.
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Posted: February 28th, 2012, 4:54pm EST
Private power producers have petitioned PM Manmohan Singh against imposing customs duty on power equipment, saying the move would push up electricity costs and hurt the government's efforts to quickly ramp up generation capacity.
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Posted: February 28th, 2012, 4:53pm EST
Under a year after launching the Fiesta sedan, Ford India on Tuesday hinted it might go in for a price cut on the model through introduction of a lower-spec variant.
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Posted: February 28th, 2012, 4:21pm EST
Tuesday’s trade union strike affected loading and despatch of petrol, diesel and cooking gas refills to dealers, but state-run fuel retailers assured there would be no shortage.
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Posted: February 28th, 2012, 10:56am EST
A group of ministers today approved the sale of 5% equity in Oil and Natural Gas Corporation through the auction method to institutional investors.
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Posted: February 28th, 2012, 10:46am EST
India's economy likely grew at its slowest pace in more than two years during the final months of 2011 as high interest rates and booming input costs hampered manufacturing activity, a Reuters poll predicted.
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Posted: February 28th, 2012, 10:43am EST
Indian gold futures, which struck a two-month high last week, could extend gains to top 29,000 rupees, a level keenly watched by the market, due to higher crude oil prices and weakness in the dollar versus the euro, analysts said.
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Posted: February 28th, 2012, 9:16am EST
The rupee today gained 15 paise to close at 49.07/08 against the US currency on fresh dollar selling by exporters amid smart rebound in local stocks.
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Posted: February 28th, 2012, 9:01am EST
IT services provider Mahindra Satyam today said that it has inducted M Rajyalakshmi Rao as an additional director on the board of the company.
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Posted: February 28th, 2012, 7:33am EST
Increasing the 2G headache for the government, Russian conglomerate Sistema JSFC, majority shareholder in Sistema Shyam TeleServices (SSTL), has invoked provisions of the India-Russia Bilateral Investment Treaty to "protect its investment" following the cancellation of its 21 telecom licences by the Supreme Court.
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Posted: February 28th, 2012, 6:09am EST
Snapping a four-day falling streak, the BSE benchmark index Sensex today recovered by 285 points on funds buying in bluechips, led by Reliance Industries, amid firming global trends as oil prices declined.
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Posted: February 28th, 2012, 5:42am EST
India and Italy on Tuesday discussed easing of the business visa regime, with Rome stating it has already started working towards streamlining the process.
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Posted: February 28th, 2012, 1:29am EST
The BSE benchmark index Sensex recovered 265 points in late morning trade in view of fresh buying mainly in realty, consumer durable, metal, power and banking stocks on the back of firm Asian cues.
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Posted: February 28th, 2012, 1:15am EST
FMCG player Karnataka Soaps and Detergents Limited (KSDL), manufacturers of Mysore Sandal Soap and sandalwood oils, are all set to foray into the Maharasthra and Gujarat regions.
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Posted: February 28th, 2012, 12:21am EST
My idea is to make Mysore sandal soap as an India-international brand, Karnataka Soaps and Detergents Ltd general manager (marketing) D N Vasanthakumar said.
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Posted: February 27th, 2012, 11:36pm EST
Snapping a three-session gaining streak, the rupee today lost 29 paise to close at 49.22/23 against the dollar on fresh demand for the US currency from importers.
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Posted: February 27th, 2012, 11:18pm EST
The 30-share Sensex, which had lost over 977 points in the past four sessions, recovered by 174.27 points, or 1 per cent, to 17,620.02.
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Posted: February 27th, 2012, 5:32pm EST
Ruias-owned Essar Energy Plc has decided to put $3.1 billion worth of power projects, totalling 2,970 mega watts (MW), on hold as it struggles to get various approvals related to coal sourcing, environment and land acquisition.
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Posted: February 27th, 2012, 5:26pm EST
BP Plc, formerly British Petroleum, said that gas it produces jointly with Reliance Industries from the Andhra offshore field be priced three times its present rate that was set by the government in 2007 for five years.
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Posted: February 27th, 2012, 5:23pm EST
A panel has suggested that the railways should impose a modernization fee on passengers and sell off its stake in rail PSUs to raise part of the Rs 8.39 lakh crore needed to upgrade its infrastructure.
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Posted: February 27th, 2012, 5:21pm EST
The World Bank has warned China of an economic crisis if it did not complete its transition to market economy.
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Posted: February 27th, 2012, 5:12pm EST
Even as the government asked its embassy in Italy for a detailed report on allegations of possible kickbacks in the purchase of VVIP helicopters by the IAF, AgustaWestland, which sold the helicopters, has come out with a categorical denial of any wrongdoing.
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Posted: February 27th, 2012, 5:09pm EST
Oil minister S Jaipal Reddy on Monday joined issue with Barack Obama to debunk the US president’s argument that demand from India and China was pushing up world oil prices, even as he denied any pressure to stop buying crude from Iran.
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Posted: February 27th, 2012, 5:06pm EST
As crisis-ridden Kingfisher witnesses an exodus of employees, especially pilots, airline chief Vijay Mallya on Sunday claimed in a mail to employees that he had arranged for funds to pay their salaries.
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Posted: February 23rd, 2012, 7:39pm EST
The Adani family, promoters of the Adani Group, will take over the real estate business of Adani Enterprises.
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Posted: February 23rd, 2012, 7:39pm EST
The Adani family, promoters of the Adani Group, will take over the real estate business of Adani Enterprises.
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Posted: February 23rd, 2012, 7:36pm EST
Minutes before the SBI executives spoke, the finance ministry denied any knowledge of the development and said there was no move from the government to push any loan decision to a company.
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Posted: February 23rd, 2012, 7:36pm EST
Minutes before the SBI executives spoke, the finance ministry denied any knowledge of the development and said there was no move from the government to push any loan decision to a company.
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Posted: February 23rd, 2012, 7:32pm EST
In a letter addressed to NHAI, IDFC has said the lenders have received the termination notice from DGSCL, the concessionaire, instead of the highway authority.
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Posted: February 23rd, 2012, 7:32pm EST
In a letter addressed to NHAI, IDFC has said the lenders have received the termination notice from DGSCL, the concessionaire, instead of the highway authority.
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Posted: February 23rd, 2012, 7:29pm EST
Thursday was the sixth straight day on which a large number of the airlines flights remained cancelled.
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Posted: February 23rd, 2012, 7:29pm EST
Thursday was the sixth straight day on which a large number of the airlines flights remained cancelled.
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Posted: February 23rd, 2012, 7:25pm EST
Emirates Telecommunications Corp (Etisalat) has filed a lawsuit against its local partner DB Realty, alleging fraud and misrepresentation of facts to induce Etisalat to invest in the joint venture Etisalat DB for providing mobile phone services in India.
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Posted: February 23rd, 2012, 7:25pm EST
Emirates Telecommunications Corp (Etisalat) has filed a lawsuit against its local partner DB Realty, alleging fraud and misrepresentation of facts to induce Etisalat to invest in the joint venture Etisalat DB for providing mobile phone services in India.
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Posted: February 23rd, 2012, 7:21pm EST
Andhra Pradesh CM Kiran Kumar Reddy has mounted pressure on Centre to divert gas being supplied to nonpriority sector from fields of state-run firms or JVs to private power producers in the state.
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Posted: February 23rd, 2012, 7:21pm EST
Andhra Pradesh CM Kiran Kumar Reddy has mounted pressure on Centre to divert gas being supplied to nonpriority sector from fields of state-run firms or JVs to private power producers in the state.
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Posted: February 23rd, 2012, 6:46pm EST
The Kingfisher Airlines crisis coupled with inflated rates cast a gloom on the travel plans of the price-sensitive flyer as air fares on domestic routes shot up by 18% in the quarter between October to December 2011.
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Posted: February 23rd, 2012, 6:46pm EST
The Kingfisher Airlines crisis coupled with inflated rates cast a gloom on the travel plans of the price-sensitive flyer as air fares on domestic routes shot up by 18% in the quarter between October to December 2011.
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Posted: February 23rd, 2012, 2:17pm EST
The study covered 87 top Indian and MNC CEOs. It found that some 50% of them are now in the Rs 2 crore per annum category and 12% in the Rs 7 crore category.
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Posted: February 23rd, 2012, 2:17pm EST
The study covered 87 top Indian and MNC CEOs. It found that some 50% of them are now in the Rs 2 crore per annum category and 12% in the Rs 7 crore category.
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Posted: February 23rd, 2012, 9:43am EST
Public-sector insurance company New India Assurance is on a drive to tap the reinsurance market in the Gulf region.
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Posted: February 23rd, 2012, 9:43am EST
Public-sector insurance company New India Assurance is on a drive to tap the reinsurance market in the Gulf region.
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Posted: February 23rd, 2012, 9:00am EST
Several banks said on condition of anonymity that it makes no sense for a banker to get fingers burnt again by lending to a borrower that is losing huge sums of money every month.
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Posted: February 23rd, 2012, 9:00am EST
Several banks said on condition of anonymity that it makes no sense for a banker to get fingers burnt again by lending to a borrower that is losing huge sums of money every month.
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Posted: February 23rd, 2012, 8:57am EST
Gold prices surged further at the bullion market here today on consistent demand from stockists and investors following rising international trend.
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Posted: February 23rd, 2012, 8:57am EST
Gold prices surged further at the bullion market here today on consistent demand from stockists and investors following rising international trend.
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Posted: February 23rd, 2012, 8:11am EST
The rupee today closed the day flat at 49.19/20 as late dollar selling by exporters and some corporates helped the local currency recover early losses.
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Posted: February 23rd, 2012, 8:11am EST
The rupee today closed the day flat at 49.19/20 as late dollar selling by exporters and some corporates helped the local currency recover early losses.
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Posted: February 23rd, 2012, 7:57am EST
"We do not have any plans to cancel Kingfisher's licence. An airline can operate until it has at least five planes in its fleet," Ajit Singh told reporters.
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Posted: February 23rd, 2012, 7:57am EST
"We do not have any plans to cancel Kingfisher's licence. An airline can operate until it has at least five planes in its fleet," Ajit Singh told reporters.
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Posted: February 23rd, 2012, 7:49am EST
Kingfisher's fleet has seen a drastic decline -- 64 in November to 28 now -- with several aircraft grounded for want of spare parts, some cannibalised and some others taken away for non-payment of lease rentals.
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Posted: February 23rd, 2012, 7:49am EST
Kingfisher's fleet has seen a drastic decline -- 64 in November to 28 now -- with several aircraft grounded for want of spare parts, some cannibalised and some others taken away for non-payment of lease rentals.
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Posted: February 23rd, 2012, 6:37am EST
Official at Citigroup said the US' banking giant has decided to sell its stake in one of the best performing housing loan companies in the country as part of its ongoing capital planning efforts.
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Posted: February 23rd, 2012, 6:37am EST
Official at Citigroup said the US' banking giant has decided to sell its stake in one of the best performing housing loan companies in the country as part of its ongoing capital planning efforts.
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Posted: February 23rd, 2012, 6:24am EST
The BSE benchmark index Sensex today fell by 67 points in a choppy trade due to profit selling in realty, metal and auto stocks amid weak global trends.
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Posted: February 23rd, 2012, 6:24am EST
The BSE benchmark index Sensex today fell by 67 points in a choppy trade due to profit selling in realty, metal and auto stocks amid weak global trends.
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Posted: February 23rd, 2012, 5:07am EST
Telecom tribunal TDSAT today issued a notice to Etisalat DB on Reliance Infratel's plea seeking to recover Rs 1,200 crore from the operator.
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Posted: February 23rd, 2012, 5:07am EST
Telecom tribunal TDSAT today issued a notice to Etisalat DB on Reliance Infratel's plea seeking to recover Rs 1,200 crore from the operator.
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Posted: February 23rd, 2012, 4:21am EST
Major losers of the index kitty were Hero MotoCorp, Larsen and Toubro, Maruti Suzuki, Mahindra and Mahindra, Sterlite Industries, Bajaj Auto and Bharti Airtel.
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Posted: February 23rd, 2012, 4:21am EST
Major losers of the index kitty were Hero MotoCorp, Larsen and Toubro, Maruti Suzuki, Mahindra and Mahindra, Sterlite Industries, Bajaj Auto and Bharti Airtel.
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Posted: February 23rd, 2012, 4:18am EST
Kingfisher Airlines on Thursday started truncated operations in accordance with its new flight schedule, as aviation regulator DGCA examined its operational details
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Posted: February 23rd, 2012, 4:18am EST
Kingfisher Airlines on Thursday started truncated operations in accordance with its new flight schedule, as aviation regulator DGCA examined its operational details
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Posted: February 23rd, 2012, 12:00am EST
The rupee fell marginally by 5 paise to 49.27 against the US dollar on the Interbank Foreign Exchange market in early trade today, following increased demand for the American currency from importers.
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Posted: February 22nd, 2012, 11:31pm EST
The BSE benchmark index Sensex recovered by nearly 57 points in early trade on Thursday on selective buying by funds.
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Posted: February 22nd, 2012, 5:28pm EST
The three Indian banks that are offloading part of their holdings in the maiden public offering of Multi Commodity Exchange (MCX), has witnessed their initial investments rise by nearly 125 times in about seven years.
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Posted: February 22nd, 2012, 5:18pm EST
Making a strong pitch for raising diesel prices, Prime Minister’s Economic Advisory Council chairman C Rangarajan on Wednesday said there was a need to revise prices to reduce the huge subsidy burden and bring down the fiscal deficit.
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Posted: February 22nd, 2012, 5:16pm EST
Maruti Suzuki has said it expects the new Dzire to generate a higher market share in the entry-level sedan market.
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Posted: February 22nd, 2012, 5:15pm EST
Led by banking major State Bank of India, the Indian market witnessed its first major correction in about four weeks, with the sensex falling 283 points to close at 18,145.
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Posted: February 22nd, 2012, 5:13pm EST
Promoters of private power projects, facing fuel shortage due to a drastic fall in output from Reliance Industries Ltd’s Andhra offshore field, on Wednesday asked the government to divert gas from other fields being supplied to non-priority sectors for generating electricity.
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Posted: February 22nd, 2012, 5:11pm EST
The government is changing the policy for future showpiece ultra-mega power projects (UMPP) that enjoy the benefit of assured domestic coal mines to make it mandatory for promoters to buy a certain percent of equipment from domestic manufacturers.
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Posted: February 22nd, 2012, 5:09pm EST
Former Infosys director T V Mohandas Pai has returned to what he does best—promoting shareholder activism.
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Posted: February 22nd, 2012, 5:00pm EST
The verdict is out. Men are rapidly converting to using products that were hitherto considered the domain of women.
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Posted: February 22nd, 2012, 4:57pm EST
Hero is fuelling up for a power ride on global roads and take on the likes of Ducati, Suzuki, Honda and Yamaha in the top-end of the bike market.
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Posted: February 22nd, 2012, 4:54pm EST
Dubai-based telecom major Etisalat on Wednesday decided to exit from India and will shut the operation of its Indian arm Etisalat DB.
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Posted: February 22nd, 2012, 4:51pm EST
The economy is expected to grow in the range of 7.5% to 8% in the fiscal year ending March 2013, the Prime Minister’s Economic Advisory Council said on Wednesday.
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Posted: February 22nd, 2012, 2:58pm EST
Lenders are firm on not providing fresh assistance to Vijay Mallya-promoted Kingfisher Airlines unless the company clears its dues to banks, a move which is expected to pile more pressure on the cash-strapped carrier to stay afloat.
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Posted: February 22nd, 2012, 11:58am EST
Indian Institute of Management, Calcutta kicks off its final placement with 108 offers during the first two days.
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Posted: February 22nd, 2012, 10:54am EST
Lenders to Kingfisher Airlines have not agreed to extend further loans to the debt-crippled carrier, three banking sources said on Wednesday after reports that State Bank of India (SBI) was close to offering a bailout loan package.
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Posted: February 22nd, 2012, 10:04am EST
Etisalat's Indian joint venture will shut down its mobile phone network after the country's top court ordered all telecoms licences issued under a scandal-tainted 2008 sale be revoked in four months, including those held by the UAE carrier's joint venture.
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Posted: February 22nd, 2012, 8:33am EST
The rupee today gained eight paise to close at one-week high of 49.22/23 against the US dollar on sustained capital inflows amid fresh selling of the American currency by exporters.
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Posted: February 22nd, 2012, 6:09am EST
The BSE benchmark index Sensex fell from seven-month high levels losing 283 points on profit-booking mainly in realty, banking and oil and gas stocks.
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Posted: February 19th, 2012, 12:28am EST
Khimji Poonja has been in the business of freight forwarding for more than 75 years and a host of world-renowned companies.
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Posted: February 16th, 2012, 6:14am EST
The BSE Sensex fell 0.3 percent on Thursday as investors locked in gains after a three-day rally had sent the benchmark to its highest close in more than six months.
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Posted: February 16th, 2012, 1:22am EST
Gold imports to India, the world's top consumer, slumped 44% to 157 tonnes in the December quarter on a record high prices.
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Posted: February 15th, 2012, 11:57pm EST
The BSE benchmark index sensex declined by 59 points in early trade today as funds and retail investors booked profits after recent gains amid weakening trend on other Asian bourses.
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Posted: February 15th, 2012, 11:35pm EST
The BSE sensex fell 0.3% early on Thursday, led by losses in Reliance Industries and ICICI Bank.
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Posted: February 15th, 2012, 10:53pm EST
Developed in partnership with GENWI, inventor of cloudbased mobile publishing, the application can be accessed via the iPad and will soon be launched for the iPhone and Android devices.
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Posted: February 15th, 2012, 10:38pm EST
Kingfisher Airlines' net loss has widened to Rs 444.26 crore for the quarter ended December 31, 2011, due to high fuel costs and weaker rupee.
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Posted: February 15th, 2012, 6:26pm EST
Starting today, The Times of India introduces an occasional series called 'Corporations & Cultures' that will look at how India Inc is changing in terms of ethnicity, demography, gender and other socio-anthropological markers.
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Posted: February 15th, 2012, 6:14pm EST
Buoyed by strong foreign institutional investment flows on the back of strong global cues, the sensex surged past the psychologically significant 18,000 mark on Wednesday.
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Posted: February 15th, 2012, 6:12pm EST
The fertilisers ministry has opposed the petroleum ministry’s move to snap supply of cheaper gas from RIL’s Andhra offshore field to units manufacturing potassic and phosphatic fertilisers, even as government is grappling with fall in production from India’s gas bowl.
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Posted: February 15th, 2012, 6:00pm EST
With time running out to mop up Rs 40,000 crore through disinvestment this fiscal, the government on Wednesday decided to auction 5% stake in ONGC to institutional investors to improve its financial position.
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Posted: February 15th, 2012, 5:59pm EST
The price of gas sold as automotive fuel and piped to kitchens are expected to rise periodically and several gas-fired power projects could be stranded as Mukesh Ambani’s Reliance Industries Ltd (RIL) has indicated to government that production from its Andhra offshore fields would go down almost a quarter of the target by 2013-14.
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Posted: February 15th, 2012, 5:55pm EST
Marico is acquiring the erstwhile Paras personal care business from Reckitt Benckiser (RB), leaving the latter to focus on the healthcare part of the business, which it had acquired last year.
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Posted: February 15th, 2012, 5:54pm EST
The Prime Minister’s Office has asked state-run Coal India to sign fuel supply agreements with power projects that were either ready by December or are expected to be commissioned by March 2015 and have long-term power purchase agreements in place.
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Posted: February 15th, 2012, 5:52pm EST
Pakistan on Wednesday agreed to liberalize trade with India and conceded to put in place a small negative list of goods by the end of the month where imports will be restricted.
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Posted: February 15th, 2012, 5:46pm EST
Norwegian telecom operator Telenor that holds a 67% stake in Unitech Wireless, issued a notice to its Indian partner seeking indemnity and compensation following the Supreme Court order canceling the joint venture’s 22 licences.
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Posted: February 15th, 2012, 5:24pm EST
Finance ministry has written to several public sector banks pointing out that they have overstated profits.
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Posted: February 15th, 2012, 5:08pm EST
Iran's tensions would make an increase in the prices of fuels inevitable after the polls as international crude hit a six-month high of near $120 a barrel on Wednesday.
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Posted: February 15th, 2012, 2:40pm EST
Pranab Mukherjee asked the states to encourage organized sector in supply management pending a decision on allowing foreign direct investment (FDI) in multi-brand retail.
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Posted: February 15th, 2012, 2:28pm EST
The guidelines announced by communications & IT minister Kapil Sibal at a press conference were, however, silent on how spectrum would be priced.
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Posted: February 15th, 2012, 11:18am EST
Telenor wants to drop its Indian joint-venture partner Unitech after the Indian Supreme Court revoked their mobile licenses in the country and is seeking a new local partner, the Norwegian telecoms firm said on Wednesday.
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Posted: February 15th, 2012, 6:26am EST
Sensex today regained the 18,000 level after over six months by adding 354 points on sustained buying by funds amid hopes that inflation will ease.
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Posted: February 15th, 2012, 5:38am EST
A panel of ministers on Wednesday failed to take a decision on stake sale of blue chip oil major ONGC and engineering giant BHEL and decided to meet again to take a final call.
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Posted: February 15th, 2012, 4:05am EST
According to latest data, barring Hyderabad and Kochi where there was a sharp decrease in the NHB Residex, the housing price index went up in most metros.
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Posted: February 15th, 2012, 1:53am EST
The BSE benchmark index Sensex regained 18,000 points level after over six months by adding 291 points at midsession on Wednesday on sustained buying by funds on easing inflation and a firming global trend.
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Posted: February 15th, 2012, 1:10am EST
Gold edged higher on Wednesday but remained in a tight range around $1,720 an ounce, with investors on the sidelines because Greece has yet to convince European leaders of its ability to stick to unpopular reforms needed to secure a bailout.
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Posted: February 15th, 2012, 12:21am EST
Indians with undisclosed foreign assets and offshore bank accounts will be in for a shock this Budget if the finance ministry clears a proposal empowering income tax authorities to reopen assessments up to 16 years as against 6 years now.
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Posted: February 15th, 2012, 12:11am EST
The Kolkata-based FMCG maker's Himani Navratna hair oil will have its place in front of the camera when the viral hit song is shown in Tamil film '3', its CEO Krishna Mohan said.
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Posted: February 14th, 2012, 11:59pm EST
The rupee gained 8 paise to trade at Rs 49.28 per dollar on the Interbank Foreign Exchange market in early trade on Wednesday amid firm stock markets.
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Posted: February 14th, 2012, 11:57pm EST
Growing at a compound annual growth rate (CAGR) of about 15%, the Indian footwear industry is likely to reach about Rs 38,700 crore by 2015 from the current level of about Rs 22,000 crore, according to industry chamber Assocham.
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Posted: February 14th, 2012, 7:30pm EST
The Indian currency’s depreciation last year helped bolster the rupee earnings of IT companies. With the currency now strengthening , along with moderation of demand for IT services due to the global slowdown, the revenues of IT companies in the near term could be negatively impacted.
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Posted: February 14th, 2012, 7:29pm EST
Inflation rate based on the wholesale price index fell to 6.55% in January , 2012, the lowest level in over two years, strengthening the argument for monetary policy easing by the Reserve Bank of India (RBI) amid a slowing economy. It was 7.47% in December, 2011, and 9.47% in January, 2011.
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Posted: February 14th, 2012, 7:27pm EST
The financial troubles of big boys of Indian aviation are spreading fast. After almost bankrupt Air India and Kingfisher, the country’s largest airline -Jet Airways - has sought government help in seeking additional working capital loans from banks and enhancing credit period with oil PSUs.
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Posted: February 14th, 2012, 7:21pm EST
A most favoured nation (MFN) tag from Pakistan will have to wait for now but New Delhi and Islamabad are set to sign three bilateral agreements on Wednesday, aimed at boosting trade relations between the two neighbours.
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Posted: February 14th, 2012, 7:18pm EST
The government is considering customs duty waiver on coal imports to reduce the impact of a steep rise in the fuel’s international price on mainstream power producers without raising electricity tariffs. The relief may come as part of the tax proposals in the Budget, officials said.
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Posted: February 14th, 2012, 7:13pm EST
Unitech on Tuesdsay reported 50% dip in consolidated net profit at Rs 55.22 crore for the third quarter ended December , on account of lower sales.
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Posted: February 14th, 2012, 7:09pm EST
Oil minister S Jaipal Reddy said government may have to send a notice to Reliance Industries to curtail cost-recovery at its KG-D 6 gas fields as the company drilled fewer number of wells than planned.
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Posted: February 14th, 2012, 6:23pm EST
In a move that may trigger a price war in competitive cola space, Coca-Cola has decided to reduce prices for its 200ml returnable glass bottle just before summer.
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Posted: February 14th, 2012, 6:16pm EST
Air India’s virtual monopoly among Indian carriers, to be the first to fly to foreign destinations, is finally over. For a long time, AI enjoyed exclusive privilege of “right of first refusal”, which ensured private Indian carriers are deprived of foreign routes even if the national carrier says it might do so at a later stage.
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Posted: February 14th, 2012, 6:14pm EST
With inflation easing to a two-year low boosting the prospects for an interest rate cut, the benchmark sensex rose 0.4% on Tuesday to end at 17,849 points, the highest closing in more than six months.
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Posted: February 14th, 2012, 8:34am EST
The rupee today lost 17 paise to close at 49.36/37 against the US dollar due to fresh demand for the American currency from importers, despite a firm trend in stock markets.
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Posted: February 14th, 2012, 8:30am EST
Cash-strapped airlines in India should raise fares by at least 15 per cent by achieve the break-even point, a senior official of Boeing said here today.
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Posted: February 14th, 2012, 7:11am EST
The BSE Sensex rose 0.4 percent on Tuesday to its highest close in more than six months, helped by a late bout of short-covering, although investors remained cautious after a recent rally in the market.
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Posted: February 14th, 2012, 6:09am EST
The BSE benchmark index Sensex today closed higher by 76 points on funds buying in bluechips as eased inflation bolstered hopes of policy rate cuts by RBI.
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Posted: February 14th, 2012, 5:40am EST
Air India would no longer enjoy exclusive privilege over all bilateral air traffic rights with foreign countries as the government has decided to allow all Indian carriers to use these rights.
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Posted: February 14th, 2012, 5:25am EST
Tata Motors on Tuesday reported 40.51 per cent jump in consolidated net profit to Rs 3,406 crore for the quarter ended December 31, 2011.
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Posted: February 14th, 2012, 4:15am EST
After a gap of nearly nine years, the Reserve Bank has increased the bank rate by 3.50 percentage points to 9.5 per cent with immediate effect.
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Posted: February 14th, 2012, 3:38am EST
Even as inflation dipped to a 25-month low of 6.55 per cent in January, finance minister Pranab Mukherjee said the rate of price rise is "still not at acceptable level" and hoped for further moderation.
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Posted: February 14th, 2012, 1:49am EST
India's inflation rate, based on wholesale price index, fell to 6.55% in January 2012, compared to 7.47% in December 2011, strengthening the argument for the easing of monetary policy amid slowing economy.
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Posted: February 14th, 2012, 1:32am EST
The rupee dropped by 23 paise to 49.42 against the US currency in late morning trade on fresh dollar demand from importers.
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Posted: February 14th, 2012, 1:09am EST
Gold futures prices declined by Rs 114 to Rs 28,005 per 10 grams on Tuesday largely due to a weakening trend overseas as strengthening dollar curbed the demand for the precious metal.
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Posted: February 14th, 2012, 12:06am EST
The government is investigating whether the Indian units of US internet giants Google Inc and Yahoo Inc may have violated the country's foreign exchange laws, the Wall Street Journal said in report.
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Posted: February 13th, 2012, 11:46pm EST
The rupee declined by 12 paise to Rs 49.31 per dollar on the Interbank Foreign Exchange in early trade on Tuesday amid weak equity markets.
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Posted: February 13th, 2012, 11:44pm EST
The BSE benchmark index Sensex fell by nearly 23 points in early trade on Tuesday largely in tandem with weak trend on other Asian bourses.
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Posted: February 13th, 2012, 11:21pm EST
According to industry executives, petrol prices are expected to rise by about Rs 3 per litre early next month after the crucial UP assembly elections.
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Posted: February 13th, 2012, 11:01pm EST
Nearly 18,000 employees of Jet Airways and Kingfisher have not received salaries for two months, a reflection of the deepening crisis in the aviation industry.
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Posted: February 13th, 2012, 8:07pm EST
The finance ministry is considering a proposal to increase excise duty from 10% to 12%, although still lower than the level before the 2008 financial crisis.
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Posted: February 13th, 2012, 8:02pm EST
Worried over rising bad loans in certain sectors, RBI today said it will discuss the issue with banks soon.
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Posted: February 13th, 2012, 7:57pm EST
With the promise of fund infusion into cash-strapped Air India remaining only on paper and not translating into any real money, the national carrier is planning to prune six long-haul international flights apart from taking a relook at its domestic network.
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Posted: February 13th, 2012, 7:55pm EST
Indian Oil Corporation on Monday reported a 52% rise in its net profit in the third quarter ended December 31, even as the company has asked the government to compensate revenue it has lost on petrol for not raising the fuel's price since January.
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Posted: February 13th, 2012, 11:31am EST
The international economic outlook is showing tentative signs of improvement, with the momentum shift spreading from the United States and Japan to other developed countries, the OECD's December survey of growth prospects showed on Monday.
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Posted: February 13th, 2012, 10:59am EST
India freed pricing of petrol in June 2010 but continues to subsidise prices of gasoil, kerosene and cooking gas to protect the poor from the impact of any inflation pressures.
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Posted: February 13th, 2012, 10:55am EST
If the World Bank is correct, 2012 will see the second slowest year of global economic growth in a decade, at a level consistent with a world recession that, like the 2008/2009 financial crisis, would not spare Asia.
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Posted: February 13th, 2012, 9:09am EST
The US dollar ended cheaper against the rupee at Rs 49.19/20 per dollar and the Pound Sterling also finished lower at Rs 77.76/78 per pound at the close of the Interbank Foreign Exchange market (Forex) here today.
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Posted: February 13th, 2012, 6:30am EST
Indian and Iranian governments have worked out Rupee trade mechanism for payment of India’s total crude imports from the latter in Rupees rather than convertible currency – the US Dollar normally used for such trade globally.
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Posted: February 13th, 2012, 6:22am EST
Hit by costlier raw material and forex loss, state-run SAIL on Monday reported 43 per cent dip at Rs 632 crore in profit in the third quarter of this fiscal.
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Posted: February 13th, 2012, 6:13am EST
In choppy trade, the Bombay Stock Exchange benchmark Sensex on Monday closed 24 points up led by metals and auto stocks on continuing FII inflows.
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Posted: February 13th, 2012, 5:50am EST
The government is moving ahead with plans of disinvestment in blue-chips ONGC and BHEL through the auction route to raise about Rs 14,500 crore within the current fiscal itself.
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Posted: February 13th, 2012, 4:45am EST
State Bank of India, the country's biggest lender, beat market expectations with a 15 percent rise in third-quarter net profit as interest income rose.
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Posted: February 13th, 2012, 1:41am EST
The Indian rupee advanced by 11 paise to 49.31/32 against the US currency in view of selling of dollars by banks and exporters.
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Posted: February 13th, 2012, 1:37am EST
The BSE benchmark index Sensex pared its early gains and declined by 30 points due to selling mainly in realty, capital goods, power and metal stocks in spite of firm Asian cues.
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Posted: February 13th, 2012, 12:22am EST
Reliance Industries and France's Dassault Aviation have signed a pact for partnering in the defence and homeland security sector in Asia's third-largest economy, a spokesman for the conglomerate said on Sunday.
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Posted: February 12th, 2012, 11:44pm EST
The rupee rose marginally by 2 paise to Rs 49.40 per dollar on the Interbank Foreign Exchange market in early trade on Monday amid firm equity markets.
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Posted: February 12th, 2012, 11:36pm EST
The BSE benchmark index Sensex recovered by almost 52 points in early trade on Monday on buying by funds and retail investors which took cues from firming trends on the other Asian bourses.
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Posted: February 12th, 2012, 7:58pm EST
FM Gold and Rainbow radio jockeys are up in arms against All India Radio management over a diktat demanding that they submit to a “re-audition’’, claiming that it is a retributive step for demanding better pay and work conditions.
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Posted: February 12th, 2012, 6:40pm EST
The little known Section 80CCD(2) provides tax benefits over and above those offered by Sections 80C and 80CCF
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Posted: February 12th, 2012, 6:37pm EST
It is important to question your notions about investing options in tandem with the altering financial scape
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Posted: February 12th, 2012, 6:33pm EST
A detailed health check-up will not only make the claims procedure easy, but also bring down the premium for you
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Posted: February 12th, 2012, 4:35pm EST
The annual health budget for 2012-13 has taken a beating, leaving the health ministry disappointed.
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Posted: February 12th, 2012, 2:06pm EST
African subsidiary of India's largest telecom firm Bharti Airtel and its two competitors have been penalised for not meeting quality of service standards by sector regulator ARCEP in west African country Burkina Faso.
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Posted: February 12th, 2012, 2:03pm EST
Those who oppose Valentine’s Day saying it’s a cultural import won’t like this. Such is the February 14 fervour that domestic business has become far more attractive than the export market for Indian floriculturists.
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Posted: February 12th, 2012, 1:57pm EST
French retail giant Auchan, touted as Wal-Mart’s most aggressive global rival, has held talks with Micky Jagtiani’s Landmark Group for a possible India entry.
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Posted: February 12th, 2012, 1:55pm EST
Fourth week into the results season, there were more signs of a slowdown in profit margins and dip in aggregate net profit of the top companies in India.
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Posted: February 12th, 2012, 1:51pm EST
A panel of the highways ministry has recommended that a flat 6% of sale price be levied as the one-time road tax on cars and taxis, unlike the present system where the quantum of tax varies from state to state.
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Posted: February 12th, 2012, 1:37pm EST
Maharashtra chief minister Prithviraj Chavan has indicated that the state government may share an “equitable burden” with the Centre to provide relief to the aviation sector by reducing sales tax on aviation turbine fuel (ATF), or jet fuel.
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Posted: February 12th, 2012, 1:33pm EST
The appeal of entry-level segment of the Indian passenger car market shrunk in 2011, perhaps for the first time in many years, and saw its market share dip below 50%.
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Posted: February 12th, 2012, 8:10am EST
The Securities and Exchange Board of India (Sebi) is hiring specialist IT officers, whose role would include keeping track of social media platforms like Twitter and blogs for all market-related information, comments and discussions.
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Posted: February 11th, 2012, 11:47am EST
Public sector lender Bank of Baroda (BoB) is planning to expand its network in Africa for its incremental business growth by opening ten new branches in the next four to five months.
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Posted: February 11th, 2012, 10:24am EST
Indian industrial production growth slowed sharply in December as capital investment remained weak, adding to pressure on the RBI to start cutting interest rates to help stimulate an economy that is headed for its slowest growth in three years.
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Posted: February 11th, 2012, 9:42am EST
Surging capital inflows, booming stock markets and a fast-appreciating currency suggest the India story is again shining after a dismal 2011.
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Posted: February 11th, 2012, 7:12am EST
DLF's consolidated net profit fell to Rs 2.58 billion for its fiscal third quarter ended December, from Rs 4.66 billion a year earlier.
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Posted: February 11th, 2012, 5:43am EST
Gold prices recovered modestly after a two-day slide at the bullion market on the back of renewed demand from local retailers and investors .
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Posted: February 11th, 2012, 4:33am EST
Reliance Industries' eastern offshore KG-D6 gas fields may see a further decline in output until new wells are brought to production.
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Posted: February 11th, 2012, 12:46am EST
Suspected dollar sales by the Reserve Bank of India helped the rupee recover all intraday losses on Friday but the currency still posted its biggest weekly fall in nine weeks.
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Posted: February 10th, 2012, 7:43pm EST
Trade ties between India and Pakistan are expected to get a boost as New Delhi reaches out to the business community across the border, starting Monday to assure them about the positive impact of normal trade ties.
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Posted: February 10th, 2012, 6:21pm EST
In a first of its kind move, Bangalore Metro Rail Corporation Limited (BMRCL) is set to issue tax-free 'Metro' bonds to raise money from the market to finance its expansion plan.
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Posted: February 10th, 2012, 4:13pm EST
The income tax department is seeking a review of the Supreme Court order quashing its demand for Rs 11,000 crore tax on the Hutch-Vodafone deal.
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Posted: February 10th, 2012, 2:37pm EST
Here's a new trend in realty shopping. Form a limited liability partnership (LLP), pool money, use that to buy land parcels and then partner with a developer to develop built-to-suit residential projects.
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Posted: February 10th, 2012, 2:34pm EST
The gap in the outsourcing revenues between India’s largest IT services provider TCS and global tech giant Accenture is fast narrowing.
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Posted: February 10th, 2012, 2:32pm EST
Dhanlaxmi Bank has denied that the lender is being taken over — a bid to quash rumours that have been rife after its chief executive quit on Thursday following differences with the board over expansion plans.
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Posted: February 10th, 2012, 2:29pm EST
The Supreme Court had rejected the income tax department's claim on Vodafone having to pay capital gains tax on the Hutch deal saying the acquisition was outside the jurisdiction of Indian authorities.
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Posted: February 10th, 2012, 2:27pm EST
With a view to keep retail investors away from the portfolio management schemes (PMS), Sebi on Friday raised the minimum investment amount of clients for such schemes to Rs 25 lakh from Rs 5 lakh.
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Posted: February 10th, 2012, 2:25pm EST
Uninor on Friday said it has proposed to the telecom regulator Trai that the reserve price for spectrum for 2G mobile services be fixed at Rs 1,658 crore for start-up 4.4 Mhz airwaves.
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Posted: February 10th, 2012, 2:22pm EST
A Greenpeace report finds they are improving. In its latest report – called Cool IT – the environment activist group identifies 21 global IT giants that meet their basic criteria, and then ranks them on the basis of how much they are doing to keep the planet clean and green.
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Posted: February 10th, 2012, 2:21pm EST
Concerned that insurance cover bundled with other products and services could lead to forced sales or misselling, the regulator has proposed to regulate tying and bundling of protection plans with other services and goods.
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Posted: February 10th, 2012, 2:11pm EST
Vodafone India, the local arm of global telecom major Vodafone Plc, is eyeing an India listing, said Analjit Singh, the newly-appointed non-executive chairman of the company.
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Posted: February 10th, 2012, 2:09pm EST
The Enforcement Directorate on Friday issued a notice to Google for alleged irregularities in transfer of funds to its foreign entities.
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Posted: February 10th, 2012, 2:07pm EST
Harrissons Malayalam, the South India-based agri business firm of the group being looked after by R P Goenka himself, will be split between two sons — Harsh and Sanjiv Goenka.
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Posted: February 10th, 2012, 2:04pm EST
French Group Legrand has acquired a unit of Chennai-based Numeric Power Systems for Rs 828 crore. Legrand will pay the promoters of Numeric a non-compete fee of Rs 8 crore.
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Posted: February 10th, 2012, 2:00pm EST
Rahul Dhir, managing director and chief executive officer (CEO) of Cairn India, is expected to get his final lot of 22.38 lakh of company’s shares soon, making him richer by Rs 85 crore.
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Posted: February 10th, 2012, 1:22am EST
Shares of Hindustan Petroleum Corp Ltd (HPCL) surged over 9% in early trade on Friday on frenzied buying buoyed by an over 12-fold jump in net profit for the third quarter ended December 31.
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Posted: February 10th, 2012, 1:01am EST
Industrial output rose by a slower-than-expected 1.8 per cent in December compared with a year earlier, government data showed on Friday.
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Posted: February 10th, 2012, 12:21am EST
Mahindra & Mahindra (M&M), India's leading SUV manufacturer, on Thursday launched the new Xylo in Kerala market.
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Posted: February 9th, 2012, 11:48pm EST
When in love, old is always gold. We list out the tried and tested things that you can gift your valentine this year and make it an exciting and memorable one for her.
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Posted: February 9th, 2012, 11:38pm EST
Now, it's Emami's turn to sing "Why this kolaveri di". The Kolkata-based FMCG maker's Himani Navratna hair oil will have its place in front of the camera when the viral hit song is shown in Tamil film '3', its CEO Krishna Mohan said.
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Posted: February 9th, 2012, 11:36pm EST
The rupee on Friday fell by 17 paise to 49.67 against the US dollar in early trade on the Interbank Foreign Exchange market, following increased demand for the American currency from importers.
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Posted: February 9th, 2012, 11:35pm EST
The BSE benchmark Sensex on Friday extended gains for the third straight session by adding another 44 points in early trade, on sustained buying by funds and retail investors.
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Posted: February 9th, 2012, 11:01pm EST
In 2007, 27-year-old Kaushalendra from Bihar shunned the placement frenzy, which would see many of his colleagues earn fat salaries, in favour of a more homespun alternative: Selling fresh vegetables on a push cart to residents of his hometown Nalanda.
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Posted: February 9th, 2012, 7:46pm EST
Giving a big push to the Dedicated Freight Corridor project, Prime Minister Manmohan Singh has directed central ministries and state governments to accord highest priority to the 3,300 km project aimed to ensure hassle-free transport of goods.
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Posted: February 9th, 2012, 7:45pm EST
Sahara India, US-based Turner Construction Company and Acropolis Capital group have together formed a construction company that plans to build realty projects undertaken by the Sahara India group worth $2.5 billion over the next five years in India, the companies said on Thursday.
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Posted: February 9th, 2012, 7:43pm EST
Reserve Bank of India on Thursday notified guidelines under the new Foreign Contribution Regulation rules (2011) which include political parties, media organizations and journalists among persons debarred from receiving donations from abroad.
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Posted: February 9th, 2012, 7:41pm EST
The country’s exports in January rose 10.1% to $25.4 billion, thanks to step up in shipments of engineering goods, gems and jewellery, drugs and pharmaceuticals and leather, and the trend is likely to help the government reach the $300 billion target.
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Posted: February 9th, 2012, 7:34pm EST
The government wants exporters to exploit the opportunity of increasing exports to Iran after the sanctions imposed by the US and Europe on Tehran. A large business delegation is expected to visit Iran later this month to assess the situation. Senior government officials are also expected to be part of the delegation.
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Posted: February 9th, 2012, 7:32pm EST
After making a grand foray into real estate and taking up several township projects, industrialist Gautam Adani’s flagship company Adani Enterprises (AEL) has decided to exit the real estate sector and focus on its core infrastructure business — mainly ports and power.
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Posted: February 9th, 2012, 7:31pm EST
Helped by an increased customer base, British telecom giant Vodafone Group posted on Thursday a 6.3% growth in its India business revenue to 1.02 billion pounds (nearly Rs 8,000 crore) for the third fiscal quarter.
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Posted: February 9th, 2012, 7:23pm EST
In a big consolidation move for the burgeoning Indian e-commerce market, the poster boy of Indian online retail — Flipkart.com — has bought out electronics retailer Letsbuy.com for an estimated $25 million. Both sites are backed by common investors — Tiger Global Management and Accel Partners.
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Posted: February 9th, 2012, 7:19pm EST
The European Union’s insistence on guaranteed access for all government and public sector contracts is proving to be a deal breaker for the free trade agreement (FTA) with India.
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Posted: February 9th, 2012, 7:17pm EST
French drinks giant Groupe Pernod Ricard’s Indian whisky Royal Stag is now the largest selling brand in its global portfolio of alcoholic beverages. It dislodged the iconic Absolut vodka to lead the volume chart in 2011, making it possibly the only local consumer brand topping a MNC business globally.
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Posted: February 9th, 2012, 7:13pm EST
Emirates Telecommunication Corp, or Etisalat, booked the biggest loss among global telecom majors when it wrote off investments worth $827 million in India, a week after the Supreme Court cancelled 121 licences in connection with the 2G controversy.
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Posted: February 9th, 2012, 11:14am EST
Global food and beverages major PepsiCo, which today announced 8,700 job cuts worldwide, did not provide country specific details - including impact on employees in India - but said its business was "fantastic" in the country.
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Posted: February 9th, 2012, 10:07am EST
Two major Gulf Arab carriers said they have no interest in taking a stake in struggling Kingfisher Airlines, which is on the hunt for fresh equity.
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Posted: February 9th, 2012, 9:54am EST
Maruti Suzuki on Thursday said it has evolved to meet the demands of a changing India and crossed the 10 million cumulative domestic sales mark.
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Posted: February 9th, 2012, 9:52am EST
Britain-based telecom firm Vodafone group reported a 6.3 percent rise in its India revenue at 1.02 billion pounds for the quarter ended December 31.
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Posted: February 9th, 2012, 9:34am EST
Tata Steel reported consolidated net loss of Rs 602.67 crore today for the third quarter ended December 31, on account of higher raw material costs and lower profits from domestic operations.
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Posted: February 9th, 2012, 8:05am EST
Fresh dollar demand from banks and importers in view of uncertainty in the currency market mainly affected the rupee value against the dollar.
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Posted: February 9th, 2012, 8:05am EST
Fresh dollar demand from banks and importers in view of uncertainty in the currency market mainly affected the rupee value against the dollar.
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Posted: February 9th, 2012, 6:32am EST
Sensex closes 160 points higher
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Posted: February 9th, 2012, 6:32am EST
Sensex closes 160 points higher
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Posted: February 9th, 2012, 4:52am EST
Growing at a compounded annual growth rate of about 30%, India's floriculture industry is likely to cross Rs 8,000 crore mark by 2015, apex industry body ASSOCHAM said.
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Posted: February 9th, 2012, 4:39am EST
Snapping a three-day rising streak, both gold and silver fell on Thursday on profit-selling by stockists at existing higher levels amid a weak global trend.
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Posted: February 9th, 2012, 4:37am EST
Industry chamber Confederation of Indian Industry (CII) has said India and Pakistan can achieve bilateral trade of $10 billion by 2015 if barriers to trade and investment are dismantled.
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Posted: February 9th, 2012, 1:40am EST
Exports grew by 10.1 per cent year-on-year to USD 25.4 billion, while imports increased by 20.3 per cent in January, commerce secretary Rahul Khullar on Thursday said.
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Posted: February 9th, 2012, 12:38am EST
Standard Chartered Bank has lent Rs 250 crore of construction loan to DivyaSree Developers for developing a mixed used project in Bangalore, said more than one person with direct knowledge of the development.
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Posted: February 9th, 2012, 12:26am EST
Layoffs are inevitable, but companies that lead staff to the exit door gently are more likely to attract talent in the future.
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Posted: February 9th, 2012, 12:19am EST
: SUV major Mahindra & Mahindra on Wednesday launched a makeover version of its highly successful model Xlyo with a slew of added features, including the industry's first voice command system, and said the new car will soon enter the international markets.
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Posted: February 9th, 2012, 12:14am EST
Auto major Mahindra & Mahindra on Wednesday said it will introduce a smaller version of its multi-purpose vehicle Xylo by Diwali this year as it aims expand its customer base in the country.
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Posted: February 8th, 2012, 11:45pm EST
The rupee declined by 19 paise to Rs 49.34 per dollar in early trade on the Interbank Foreign Exchange market today, weighed down by dollar's gains against other currency rivals.
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Posted: February 8th, 2012, 11:42pm EST
The BSE benchmark index Sensex fell by over 78 points in early trade today on fresh selling by funds amid a weakening trend on other Asian bourses.
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Posted: February 8th, 2012, 6:06pm EST
While the media has been tracking the condition of AI staffers, the plight of employees in other PSUs defaulting on timely salaries has hardly received attention.
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Posted: February 8th, 2012, 5:53pm EST
Bahrain-based telecom company Batelco has become the first casualty of the Supreme Court judgment which cancelled 122 telecom licences on charges of irregularity last week.
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Posted: February 8th, 2012, 5:52pm EST
GMR Group-led Delhi International Airport Pvt Ltd (DIAL) posted a loss of Rs 229 crore in the quarter ended December 2011, due to suspension of collection of airport development fees from passengers for some months.
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Posted: February 8th, 2012, 5:49pm EST
Polyphonic and pluralistic, the world’s two most populous democracies, India and the European Union will hold their annual summit in New Delhi on February 10.
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Posted: February 8th, 2012, 5:46pm EST
Slowing economic growth and rising expenses have not been able to dent the confidence of Indian consumers.
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Posted: February 8th, 2012, 5:44pm EST
Car sales look headed for their first annual decline after more than a decade as poor demand throughout 2011-12 will see the industry end up the year in red, auto industry body Society of Indian Automobile Manufacturers (Siam) said.
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Posted: February 8th, 2012, 5:42pm EST
IT services firm Cognizant said on Wednesday it earned a net profit of $240 million for the quarter ended December 2011, up 5.7% sequentially and 16.44% compared with the same quarter last year.
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Posted: February 8th, 2012, 5:41pm EST
Flagship explorer Oil and Natural Gas Corporation on Wednesday reported its first decline in net profit in the last three quarters as a 197% rise in fuel subsidy outgo offset one-time gains it made from Cairn India's Rajasthan oilfields.
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Posted: February 8th, 2012, 5:40pm EST
Tax collections are expected to fall short of the budget target with corporation tax mop-up remaining low on account of slower profit growth.
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Posted: February 8th, 2012, 5:38pm EST
The information technology (IT) and IT-enabled services (ITeS) sector in India will cross the $100-billion (over Rs 4.9-lakh-crore) mark in revenue this fiscal year.
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Posted: February 8th, 2012, 12:28pm EST
Faced with subdued revenue mop-up and rising fiscal deficit, finance minister Pranab Mukherjee said he is "losing sleep" over mounting subsidy bill, which may cross Budget estimate by Rs 1 lakh crore in 2011-12.
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Posted: February 8th, 2012, 9:33am EST
Indirect tax collection jumped 15% in the April-January period to Rs 3.17 lakh crore and the revenue department has said it hopes to meet the Budget target.
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Posted: February 8th, 2012, 8:11am EST
The joint venture company -- Nippon TCS Solution Center Ltd -- will offer full service suite of IT, BPO and infrastructure services to Japanese corporations.
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Posted: February 8th, 2012, 7:56am EST
Oil prices rose above $99 a barrel Wednesday after an unexpected drop in U.S. crude supplies suggested demand is improving.
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Posted: February 8th, 2012, 6:19am EST
Erasing initial gains, the rupee closed 15 paise down at 49.20/21 against the dollar following late weakness in local stocks amid sustained dollar demand from importers.
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Posted: February 8th, 2012, 6:07am EST
Pranab Mukherjee today said he is "losing sleep" over skyrocketing subsidy bill which could exceed budget estimates by over Rs 1 lakh crore in 2011-12.
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Posted: February 8th, 2012, 5:59am EST
The BSE benchmark index Sensex recovered by 85 points on funds buying in bluechips, mainly in Reliance Industries and Infosys, amid a firming trend in the global markets.
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Posted: February 8th, 2012, 5:55am EST
Three years after the Xylo was launched, Mahindra has given the MPV its first major facelift.
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Posted: February 8th, 2012, 5:38am EST
Market regulator Sebi has decided to share with the Ministry of Corporate Affairs the names of over 500 companies, which have garnered money from investors in violation of its Collective Investment Scheme rules.
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Posted: February 8th, 2012, 5:05am EST
Gold demand stayed weak in India, the world's top buyer of the yellow metal, as prices touched a near two-month high.
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Posted: February 8th, 2012, 3:01am EST
Japanese imaging major Canon has said it expects healthy growth in the Indian market, buoyed by the growing middle class and rising incomes.
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Posted: February 8th, 2012, 12:36am EST
Passenger car sales in the domestic market rose by 7.19 per cent to 1,96,013 units in January, compared to 1,82,852 units in the same month last year.
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Posted: February 7th, 2012, 11:28pm EST
The rupee moved up by 18 paise to 49.02 against the dollar on the Interbank Foreign Exchange market in early trade today on increased foreign fund inflows.
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Posted: February 7th, 2012, 11:17pm EST
The BSE benchmark index Sensex recovered nearly 60 points in early trade today on fresh buying by funds and retailers amid a firming trend in Asian markets.
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Posted: February 7th, 2012, 11:06pm EST
Bharti Airtel, the world's fifth-biggest mobile phone carrier by subscribers, reported on Wednesday a 22 per cent fall in quarterly profit -- its eighth straight quarter of declining profits -- hit by higher interest costs.
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Posted: February 7th, 2012, 7:52pm EST
There's finally some hope for the beleaguered Maharaja. A group of ministers (GoM) on Tuesday cleared a Rs 21,000-crore debt restructuring plan for Air India.
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Posted: February 7th, 2012, 7:49pm EST
The ministerial panel on aviation on Tuesday recommended allowing carriers to import jet fuel but ground realities may not allow the move to take off in a big way as was the case in 1998.
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Posted: February 7th, 2012, 7:48pm EST
Aviation minister Ajit Singh on Tuesday gave a lifeline to Air India when he got its financial restructuring plan (FRP) cleared by the group of ministers. Admitting that "AI would not have been able to continue without this," Singh is now laying the roadmap for the airline's turnaround and said the Maharaja will get Boeing 787 Dreamliners.
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Posted: February 7th, 2012, 7:47pm EST
Amid concerns over Mauritius being used as a route for avoidance of taxes on investments by Indian companies , PM Manmohan Singh and his counterpart Navinchandra Ramgoolam on Tuesday agreed on early conclusion of an agreement . The two leaders reviewed the status of negotiations on the revised DTAA.
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Posted: February 7th, 2012, 7:46pm EST
R- Power appears to have exorcised the ghost of Dadri power plant, which was to be a global showcase, stuck over land and fuel row.
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Posted: February 7th, 2012, 7:41pm EST
The assembly polls in Punjab and Uttar Pradesh are being keenly followed not just by politicians , pollsters and political pundits but also by personal computer (PC) makers.
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Posted: February 7th, 2012, 7:40pm EST
From being the worst performer among emerging market currencies in 2011, the rupee has outperformed all emerging market currencies in 2012. Corporates will find dealing with this volatility a challenge as several forecasters are now changing their 2012 projections for the domestic currency.
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Posted: February 7th, 2012, 7:36pm EST
Marquee Belgian family office Verlinvest SA, an investment company of the founding families of the world's largest brewer Anheuser-Busch InBev, is partnering with Everstone Capital to build a portfolio of food and beverage (F&B ) assets in India.
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Posted: February 7th, 2012, 7:35pm EST
Microsoft has merged its interactive selfservice assets with 24/7 Inc (formerly 24/7 Customer) and in return has taken an undisclosed stake in the latter .
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Posted: February 7th, 2012, 7:33pm EST
PE majors New Silk Route and Bain Capital are holding talks for a $30-million minority investment in Barbeque Nation, a restaurant subsidiary of Sayaji Hotels, said sources familiar with the matter.
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Posted: February 7th, 2012, 7:31pm EST
The government is set to pump in around Rs 2,000 crore into IDBI Bank as part of the Rs 8,000-crore capital infusion plan being prepared by the finance ministry for the Budget.
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Posted: February 7th, 2012, 7:30pm EST
tility vehicle and tractor major Mahindra & Mahindra (M&M ) on Tuesday reported a 10% fall in third-quarter profit as rising commodity costs squeezed margins.
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Posted: February 7th, 2012, 7:28pm EST
Bank customers and heirs of accountholders who have lost records of their money lying in banks can now recover their forgotten deposits .
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Posted: February 7th, 2012, 7:27pm EST
The heads of stateowned oil marketing companies (OMCs) find themselves in fix when it comes to answering the minority shareholders and the federal auditor about $1 billion projected losses on sale of petrol below cost price.
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Posted: February 7th, 2012, 7:25pm EST
Nine months after losing the LIC chairmanship , T S Vijayan is back in the reckoning for the top job at the country's largest financial institution .
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Posted: February 7th, 2012, 7:25pm EST
Telenor, which holds a 67% stake in 2G scamscarred Unitech Wireless, and the Norwegian government seem to have got a sympathetic hearing from the Indian government.
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Posted: February 7th, 2012, 8:27am EST
The government forecast 6.9 percent annual growth for the fiscal year that ends in March, a tad below the 7 percent to 7.5 percent growth predicted by several government officials.
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Posted: February 7th, 2012, 8:16am EST
Mahindra & Mahindra (M&M) received over 25000 bookings for its SUV, XUV500, in the second phase that re-opened on January 25 across 19 cities.
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Posted: February 7th, 2012, 7:54am EST
India's cash-starved airlines will be allowed to import jet fuel directly under a plan approved by a government panel on Tuesday, a break that could help them cut fuel costs by up to 20 per cent but also require new spending.
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Posted: February 7th, 2012, 7:33am EST
Forex dealers said renewed dollar demand from importers and some banks on hopes of further rise in the US currency's value in near future also weighed against the rupee.
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Posted: February 7th, 2012, 7:29am EST
Dampening market sentiment, the government projected GDP growth to be lower at 6.9 per cent as against the Reserve Bank estimates of 7 per cent in 2011-12.
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Posted: February 7th, 2012, 6:04am EST
A benchmark index for Indian equities markets Tuesday provisionally closed 87 points lower as traders booked profits after five consecutive weeks of rallying.
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Posted: February 7th, 2012, 5:37am EST
Mahindra & Mahindra Ltd, India's biggest utility vehicle maker, reported a bigger-than-expected 9.9 percent fall in quarterly profit as rising commodity costs squeezed margins.
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Posted: February 7th, 2012, 4:31am EST
The world's largest steel maker ArcelorMittal's loss widened to USD 1 billion in October-December 2011 due to subdued European demand and an USD 1.3 billion outgo on deferred tax, impairments and restructuring charges.
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Posted: February 7th, 2012, 4:02am EST
The GoM, headed by finance minister Pranab Mukherjee, was also apprised of the decision to allow foreign airlines pick up 49 per cent stake in Indian carriers.
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Posted: February 7th, 2012, 3:49am EST
Finance minister Pranab Mukherjee will present the annual budget for 2012/13 on March 16, while the railways budget will be presented on March 14, Pawan Kumar Bansal said on Tuesday.
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Posted: February 7th, 2012, 3:20am EST
The rupee strengthened by 11 paise to Rs. 48.94 a dollar in early trade on the Interbank Foreign Exchange market on Tuesday on increased foreign capital inflows.
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Posted: February 7th, 2012, 3:11am EST
India's aviation ministry will soon move a note to the cabinet to allow foreign airlines to buy stakes of up to 49 percent in Indian carriers, civil aviation minister Ajit Singh said on Tuesday.
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Posted: February 7th, 2012, 1:41am EST
Small-sized private lender Dhanlaxmi Bank said its Managing Director and Chief Executive Amitabh Chaturvedi has resigned on Monday.
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Posted: February 7th, 2012, 1:33am EST
Manappuram Finance Ltd , which provides loans using gold as collateral, said on Tuesday its board will meet on Feb. 10 to discuss a Reserve of India notice that prohibited it from accepting or renewing deposits from the public.
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Posted: February 7th, 2012, 1:24am EST
India's farm output is expected to grow 2.5%, while manufacturing sector is seen growing an estimated 3.9% in the current fiscal year that ends in March.
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Posted: February 6th, 2012, 11:08pm EST
Goldman Sachs has upgraded India's Reliance Industries (RIL) to buy from neutral, citing a potential lift in margins on increased refining and recovering oil demand, sending the refiner's shares up in pre-open trade on Tuesday.
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Posted: February 6th, 2012, 11:01pm EST
Sensex rose 0.3 percent early on Tuesday, led by index heavyweight Reliance Industries, continuing a five-day rally ahead of the release of the government's GDP growth estimate for the current financial year.
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Posted: February 6th, 2012, 10:38pm EST
Rupee opened stronger on Tuesday in anticipation of dollar inflows, but concerns that Greece may fail to meet conditions to get its next bailout kept traders wary.
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Posted: February 6th, 2012, 7:40pm EST
The Directorate General of Central Excise Intelligence (DGCEI) office at Kochi has registered a case against NSE for violating service tax rules by not paying taxes for fees collected from candidates who took the NCFM (National Stock Exchange’s Certification in Financial Markets) exam.
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Posted: February 6th, 2012, 7:39pm EST
Private equity honcho Subbu Subramaniam , who split from Baring three years ago and founded MCap Fund Advisors in 2010, has struck his maiden pure-play PE deal in Southbased ReGen Powertech.
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Posted: February 6th, 2012, 11:12am EST
At stake is an agreement that would create one of the world's largest free-trade zones by population - covering 1.8bn, or more than a quarter, of the world's people.
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Posted: February 6th, 2012, 10:28am EST
Gold prices eased further at the bullion market on Monday on lack of local buying interest amidst subdued stockist and investor demand on the back of bearish European cues.
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Posted: February 6th, 2012, 9:40am EST
Tata Teleservices said it will file a review petition against the SC order as the company had applied for these licences more than 18 months before the 2008 licensing process began.
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Posted: February 6th, 2012, 9:29am EST
Global nutrition major Nestle sees potential growth for its food products that meet specific dietary needs not met through normal diets in India due to changing lifestyle.
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Posted: February 6th, 2012, 8:50am EST
Snapping four-session gaining spree, the rupee today lost 36 paise to close at 49.05/06 against the dollar due to fresh buying of the American currency by importers.
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Posted: February 6th, 2012, 7:57am EST
New operator Uninor, a joint venture between Telenor of Norway and Unitech, said the company will participate in 2G spectrum auction but did not rule out exit option from the Indian market.
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Posted: February 6th, 2012, 7:34am EST
The committee also proposes that the highest personal income tax rate of 30% should apply to annual income above Rs 10 lakh, as against Rs 8 lakh.
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Posted: February 6th, 2012, 6:37am EST
A court has directed Delhi Police to lodge an FIR on a complaint against a top executive of Germany-based Volkswagen, directors of its authorised car dealer and a official of transport department on the issue of illegal charges levied on buyers.
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Posted: February 6th, 2012, 6:24am EST
The Bombay Stock Exchange benchmark sensex registered gains for the fifth straight session, rising over 102 points as realty and capital goods stocks led the rally on continued buying by funds, amid firm trend in the Asian region.
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Posted: February 6th, 2012, 5:49am EST
A benchmark index for Indian equities markets gave up some of its intra-day gains to provisionally close 71 points higher.
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Posted: February 6th, 2012, 5:28am EST
Budget airline SpiceJet on Monday posted a loss of Rs 39.26 crore for the quarter ended December 31, 2011, due to escalating ATF prices and increase in the US dollar rates.
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Posted: February 6th, 2012, 4:45am EST
Union finance minister Pranab Mukherjee said on Monday headline inflation would continue around seven percent till March.
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Posted: February 6th, 2012, 4:17am EST
FMCG giant Hindustan Unilever Limited (HUL) on Monday said its net profit rose by 18.24 per cent to Rs 753.81 crore for the third quarter ended December 31, 2011, over the same period previous fiscal.
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Posted: February 6th, 2012, 2:43am EST
Indian drugmaker Piramal Healthcare raised 18 billion rupees through commercial papers with 30-day and 75-day maturities, to pay in part for raising its stake in Vodafone India unit, a company executive said on Monday.
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Posted: February 6th, 2012, 2:40am EST
Buoyed by a firming global trend, gold prices rose by Rs 124 to Rs 28,347 per ten grams in futures trade on Monday.
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Posted: February 5th, 2012, 11:57pm EST
The rupee moved up by 9 paise to trade at 48.60 against the dollar on the Interbank Foreign Exchange market in early trade today on increased foreign fund inflows.
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Posted: February 5th, 2012, 11:54pm EST
Iran has given a one-month ultimatum to an Indian consortium over the development of a gas field whose delay by India has been attributed to western pressure.
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Posted: February 5th, 2012, 11:38pm EST
The BSE benchmark index Sensex gained 218 points in early trade on Monday on sustained buying by funds and retailers amid a firming trend in Asian markets.
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Posted: February 5th, 2012, 7:18pm EST
Madura Fashion & Lifestyle, part of the $35-billion Aditya Birla Group, is holding talks with high-street names Giorgio Armani SpA and upmarket British clothier Hackett, besides striking a new deal with Esprit Holdings for the Indian market.
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Posted: February 5th, 2012, 7:14pm EST
Third week into the current results season, most of the top companies in India have surprised analysts and investors with better-than-expected results for the quarter ended December 2011.
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Posted: February 5th, 2012, 7:10pm EST
To protect investors from being taken for a ride, the government, along with the regulators in the financial sector, is working towards formulating a national policy on financial education. And a draft policy document has already been prepared.
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Posted: February 5th, 2012, 10:41am EST
Pranab Mukherjee said that inflationary pressures must be brought down to a tolerable & acceptable level before Indian economy can revert to high growth.
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Posted: February 5th, 2012, 1:20am EST
Family-controlled large business houses may be strong pillars of growth for India Inc, but experts warn that their internal feuds and succession issues also pose significant risks -- not only for the groups themselves, but for the entire economy as well.
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Posted: February 5th, 2012, 1:02am EST
Country's largest lender, State Bank of India, has decided to waive guarantees and annual service fees for loans to small and medium businesses guaranteed under the Credit Guarantee Fund Trust scheme.
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Posted: February 5th, 2012, 12:51am EST
Come next financial year, the PAN card is likely to become the most potent tool for the Income Tax Department to unearth black money, tax evasion and instances of criminal financing in the country
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Posted: February 5th, 2012, 12:39am EST
Multi-brand car service chain Carnation Auto, promoted by former Maruti Suzuki India chief Jagdish Khattar, is gearing up for an aggressive foray into the used-car market, with plans to open over 160 outlets across the country in the next three years.
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Posted: February 5th, 2012, 12:36am EST
As many as half a billion Indians would need new homes in the country's various cities over the next decade, a requirement equivalent to all of China, North America and Western Europe put together, a report today said.
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Posted: February 5th, 2012, 12:35am EST
Led by IT bellwether TCS, eight of the country's top ten valued companies added Rs 39,894.58 crore to their combined market capitalisation (mcap) in a strong market the last week.
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Posted: February 5th, 2012, 12:32am EST
Having ruled the milk and dairy products market in Delhi and NCR for long, Mother Dairy has now decided to expand presence in other parts of the country within the next 2-3 years.
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Posted: February 4th, 2012, 7:04pm EST
Piramal Healthcare, the flagship of billionaire Ajay Piramal, has doubled its shareholding in Vodafone India Ltd. Piramal paid $618 million to pick up an additional 5.5% stake.
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Posted: February 4th, 2012, 6:29pm EST
The CBI has also sought prosecution sanction against five serving NICL employees, according to a status report from the Central Vigilance Commission.
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Posted: February 4th, 2012, 9:04am EST
Riding high on the back of frantic buying by foreign funds, the benchmark Sensex posted gains for the fifth consecutive week and settled higher by almost 371 points at more than three-month high of 17,604.96.
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Posted: February 4th, 2012, 5:46am EST
Piramal Healthcare Saturday announced it would buy a 5.5% stake in Vodafone India for Rs.3,007 crore ($618 million), taking the total stake of the cash-rich drug manufacturer in the mobile telecom firm to 11%.
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Posted: February 4th, 2012, 5:07am EST
Prices of gold tumbled by Rs 600 while silver fell sharply by Rs 1,590 a kg on the bullion market due to heavy selling by stockists which took cues from weak global markets.
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Posted: February 4th, 2012, 5:00am EST
Ailing Kingfisher Airlines, which was suspended by IATA for non-payment of dues two days ago, would not join the global airlines' grouping 'oneworld'.
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Posted: February 3rd, 2012, 8:22pm EST
To the aggressive investor, the 76-year-old Rajapalayam, (south) Tamil Nadu-based cement-to-software Ramco group is an enigma.
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Posted: February 3rd, 2012, 4:13pm EST
SC verdict seeking fresh auctions for licences granted in 2008 might create two sets of telecom players in the 2G bracket with very unequal costs posing a fresh set of problems for the regulator and the government.
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Posted: February 3rd, 2012, 3:09pm EST
Paint maker Akzo Nobel India (formerly ICI) has said that it will consider a share buyback proposal from minority shareholders following opposition to its scheme of amalgamation of ulisted group companies with itself.
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Posted: February 3rd, 2012, 3:04pm EST
Shiv Nadar, 66, isn’t resting on his laurels. The founder-chairman of HCL Enterprises has continued to invest in the ideas he has believed in, even if it implies going beyond the means sometimes. TOI’s Ishan Srivastava and Rajesh Chandramouli catch up with the technology pioneer and philanthropist to know what drives him. Excerpts:
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Posted: February 3rd, 2012, 3:01pm EST
Infosys Technologies has effected a key leadership reshuffle wherein two of its “CEO-material” leaders, Ashok Vemuri and B G Srinivas, will interchange their current roles and swap their current operating domains.
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Posted: February 3rd, 2012, 3:00pm EST
Change in the regulatory environment, which has compelled insurers to cut distribution costs, is leading life companies to look at new low-cost channels for distribution.
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Posted: February 3rd, 2012, 2:56pm EST
The services sector grew at its fastest pace in five months in January, driven by improvement in domestic demand and new businesses, according to the HSBC (PMI) data released here today.
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Posted: February 3rd, 2012, 2:54pm EST
Five senior bureaucrats, who have served or are serving powerful political establishments, are among 15 candidates in race for the post of chairman of the world’s biggest coalminer, state-run Coal India Ltd .
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Posted: February 3rd, 2012, 2:52pm EST
The snapping of fuel supply to cash-strapped Air India by oil PSUs on Thursday may prove to be the final nail in the ailing Maharaja’s coffin.
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Posted: February 3rd, 2012, 2:50pm EST
Top Reliance Industries Ltd (RIL) officials told Parliament’s public accounts committee (PAC) that the company will return offshore areas at Krishna-Godavari gas fields to the government this year.
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Posted: February 3rd, 2012, 2:47pm EST
Following the Supreme Court order, telecom regulator Trai on Friday started the process of auction of 2G spectrum and issued a pre-consultation paper on the same seeking views of all stakeholders.
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Posted: February 3rd, 2012, 2:45pm EST
Reeling under the impact of global slowdown and a high interest rate regime, India Inc on Friday demanded that tax rates be retained at existing levels even as FM Pranab Mukherjee expressed concerns about challenges facing the economy.
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Posted: February 3rd, 2012, 2:42pm EST
Facebook’s initial public offering (IPO) may value Mark Zuckerberg’s stake at $28.4 billion, making him richer than Google’s co-founders and almost on par with Larry Ellison, who started Oracle 35 years ago.
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Posted: February 3rd, 2012, 2:38pm EST
Bank loans to the telecom sector shrank by 9.5% since the beginning of the financial year, even as the controversies surrounding the issue of telecom licences deepened.
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Posted: February 3rd, 2012, 2:33pm EST
Incumbent operators like Vodafone, Airtel and RCOM have upped the ante in an attempt to poach subscribers from operators whose licences were scrapped by the Supreme Court on Thursday.
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Posted: February 3rd, 2012, 2:29pm EST
The rally in the stock market continued for the fifth consecutive week on the back of strong foreign fund buying, and the sensex closed 173 points higher at 17,605 — its highest close in over three months.
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Posted: February 3rd, 2012, 2:26pm EST
Within 24 hours of the Supreme Court (SC) order cancelling 121 telecom licences awarded by A Raja in 2008, the affected companies seem to be getting their act together.
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Posted: February 3rd, 2012, 11:25am EST
The government today said public sector banks have a total exposure of over Rs 14,000 crore to telecom companies whose licences have been cancelled by the Supreme Court though a bulk of the amount is backed by securities.
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Posted: February 3rd, 2012, 9:55am EST
The foreign exchange reserves rose for the second consecutive week, increasing by $673.4 million to $293.93 billion on account of jump in foreign currency reserves.
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Posted: February 3rd, 2012, 9:47am EST
Silver prices recovered modestly at the bullion market Friday on fresh industrial as well as speculative demand, despite higher global cues.
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Posted: February 3rd, 2012, 9:35am EST
After the SC's cancelling 122 new telecom licences, India may see the end of low tariff regime that made call rates in the country among the lowest in the world, say experts.
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Posted: February 3rd, 2012, 9:13am EST
Trai today started the process of auction of 2G spectrum & issued a pre-consultation paper on the same seeking views of all stakeholders.
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Posted: February 3rd, 2012, 8:23am EST
The rupee posted its fifth straight weekly gain on Friday, aided by a gush of foreign funds as investors bet on a monetary easing to boost growth.
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Posted: February 3rd, 2012, 8:06am EST
With diesel variants now accounting for over a fourth of the country's passenger car sales, the auto major is currently looking at further ramping up production of the diesel versions.
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Posted: February 3rd, 2012, 7:41am EST
The rupee posted its fifth straight weekly gain on Friday, aided by a gush of foreign funds as investors bet on a monetary easing to boost growth in Asia's third-largest economy.
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Posted: February 3rd, 2012, 7:10am EST
Global ratings agency Fitch today said the Supreme Court's decision to cancel 122 telecom licences will hit the profitability of banks that had extended credit to these companies by up to 10%.
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Posted: February 3rd, 2012, 6:43am EST
Extending gains for the fourth day in a row, the BSE benchmark Sensex today rose by 173 points on sustained buying driven by expectations of a cut in interest rates by the Reserve Bank.
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Posted: February 3rd, 2012, 6:31am EST
Main indices of Indian equities markets rallied for the fifth straight week, with benchmark Sensex rising above 17,600 points on the back of continued buying support from overseas investors.
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Posted: February 3rd, 2012, 6:20am EST
Worried over the impact of global financial turmoil on the economy, India Inc today asked the finance ministry to retain tax rates at existing levels, but increase exemption limits to promote growth.
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Posted: February 3rd, 2012, 6:01am EST
A benchmark index for Indian equities witnessed choppy trade Friday afternoon, moving in a narrow range of less than 100 points even as Bharti Airtel rose sharply for the second day after the Supreme Court order cancel 122 licences of eight telecom firms.
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Posted: February 3rd, 2012, 5:36am EST
The country's largest car-maker Maruti Suzuki will launch more diesel models to maintain its market share, which has been under pressure for months now, a top company executive has said.
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Posted: February 3rd, 2012, 4:53am EST
At 3:02pm (0932 GMT), the rupee was at 48.73/74 to the dollar, close to the day's high of 48.72, a level not seen since Oct 31. It at 49.15/16 on Thursday.
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Posted: February 3rd, 2012, 4:42am EST
India's services sector grew at its fastest pace in six months during January as new business swelled, extending the previous couple of months' positive trend into the new calendar year, a survey showed.
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Posted: February 3rd, 2012, 2:27am EST
The BSE Sensex was subdued on Friday as some profit-taking emerged after the index rose more than 3 percent in the last three sessions, and as weak Asian markets ahead of key US jobs data dented investor sentiment.
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Posted: February 3rd, 2012, 12:22am EST
The rupee rose marginally by 6 paise to trade at a fresh three-month high of Rs 49.09 per a dollar on the Interbank Foreign Exchange market in early trade on Friday.
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Posted: February 3rd, 2012, 12:14am EST
Amazon.com is coming to India, with the Thursday launch of Junglee.com, a watered-down version of its global shopping portal.
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Posted: February 2nd, 2012, 11:25pm EST
The BSE benchmark Sensex on Friday moved up by another 37 points in early trade, on continued buying by funds and retailers even as trend on other Asian markets remained slightly subdued.
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Posted: February 2nd, 2012, 8:03pm EST
The government’s struggling finances are expected to get a leg up, thanks to the Supreme Court ordering fresh auction of 2G spectrum on Thursday.
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Posted: February 2nd, 2012, 7:59pm EST
The project envisages setting up of mega petrochemical units, a gasification plant and refinery off-gas cracker, among others.
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Posted: February 2nd, 2012, 7:54pm EST
India is Facebook’s second largest user base in the world with some 43 million users, edging past Indonesia this week, and whizzing past Brazil , Mexico, and UK in past year.
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Posted: February 2nd, 2012, 7:48pm EST
Korean major Samsung is aggressive on its growth plans in the portable PC market in India. After introducing its first Series 5 Ultrabook in India next week, Samsung is aiming to place its products at a premium level instead of waging a price war.
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Posted: February 2nd, 2012, 7:41pm EST
Foreign partners say they can’t be blamed for what happened before their entry
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Posted: February 2nd, 2012, 7:37pm EST
The Supreme Court order cancelling 121 licenses has thrown up unintended winners and losers in the telecom sector.
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Posted: February 2nd, 2012, 7:34pm EST
The Supreme Court order canceling 121 2Gspectrum licences is likely to impact around 10,000 jobs in the telecom sector.
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Posted: February 2nd, 2012, 7:27pm EST
Banks also say that the non-fund based guarantees (bank guarantees for revenue generation mandated by the government) will cease to be in force as the rollout itself has not taken place.
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Posted: February 2nd, 2012, 7:23pm EST
It is speculated that the Middle Eastern firms Etisalat and Bahrain Telecommunications, which entered the Indian market with DB Realty and C Sivasankaran’s S Tel, respectively, will exit the market.
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Posted: February 2nd, 2012, 7:04pm EST
The SC judgement of cancelling 122 2G licences granted during the tenure of A Raja paves the way for clear policies in the fast-growing sector, experts said.
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Posted: February 2nd, 2012, 7:01pm EST
The companies took the step after the carrier failed to clear a due of Rs 268 crore for fuel bought in last October even after its credit period expired on January 22.
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Posted: February 2nd, 2012, 6:57pm EST
The latest round of reiteration of the public trust doctrine would lend weight to the Chawla Committee recommendations that had clearly said that all national resources should be allocated through auction.
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Posted: February 2nd, 2012, 5:32pm EST
Arun Shourie on Thursday said the Supreme Court judgment cancelling 121 telecom licences issued during A Raja’s tenure had an important lesson for corporate houses.
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Posted: February 2nd, 2012, 5:26pm EST
Welcoming the order, Sibal said that the confusion has now been removed and clarity has been brought in the sector and this will help in getting investments in the important sector.
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Posted: February 2nd, 2012, 3:19pm EST
Telecom operators hit by the Supreme Court judgement cancelling 121 licences may seek a review.
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Posted: February 2nd, 2012, 11:00am EST
State-owned oil companies have resumed jet fuel supplies to Air India after the national carrier promised to pay Rs 268 crore in dues tomorrow.
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Posted: February 2nd, 2012, 10:12am EST
The finance ministry will be infusing Rs 18,000 crore in the current fiscal in 12 banks, including SBI, and will be seeking supplementary grants from Parliament in the budget session.
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Posted: February 2nd, 2012, 9:44am EST
Airtel and Vodafone look like winners. They may buy assets or spectrum selectively. Even if they don't, they should do well as the market consolidates around them.
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Posted: February 2nd, 2012, 7:55am EST
State-owned oil companies on Thursday snapped supplies of jet fuel to Air India for failing to honour payments even after 90-day credit period, but the ailing national carrier said it has paid Rs 180 crore and would pay another Rs 40 crore by tomorrow.
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Posted: February 2nd, 2012, 6:57am EST
Bringing the curtains down on the controversial allocation by Raja in 2008, the court strongly indicted him over the manner in which he manipulated the issue of licenses.
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Posted: February 2nd, 2012, 6:43am EST
The country's second largest two-wheeler maker Bajaj Auto today reported 6.83% increase in its motorcycle sales in January at 2,94,439 units, the highest ever for the month.
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Posted: February 2nd, 2012, 6:21am EST
"Customers will not be impacted from the cancellation of licences as around 95% market share is of those who got licences before Jan 2008," Trai said.
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Posted: February 2nd, 2012, 6:18am EST
The following are the 17 firms, some of which have since been sold out or merged, that were issued the 122 licences in 2008 all of which were ordered cancelled after four months by the Supreme Court on Thursday:
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Posted: February 2nd, 2012, 5:58am EST
The Bombay Stock Exchange benchmark sensex today made gains for the third straight day - up 131 points on sustained buying by funds, especially in IT and metal sectors amid strong gains in the Asian region on signs of growth in major global economies.
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Posted: February 2nd, 2012, 3:38am EST
Indian equities markets were trading higher backed by gains in established telecom scrips, which were expected to gain after the Supreme Court cancelled 122 licences issued in 2008
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Posted: February 2nd, 2012, 3:32am EST
"The current operators other than the ones whose licenses have been cancelled control more than 90 percent of the market so I don't think this will make a huge change," TRAI said.
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Posted: February 2nd, 2012, 2:36am EST
Stocks of firms that face cancellation of telecom licences after a Supreme Court order fell sharply on Indian stock markets Thursday, even as those of one established player registered hansome gains.
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Posted: February 2nd, 2012, 2:25am EST
Reliance Communications today said that licences to the company were issued in 2001 or prior to that and will not be affected by the Supreme Court judgement pronounced squashing all 122 licences alloted in January 2008.
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Posted: February 2nd, 2012, 1:24am EST
“We have been unfairly treated as we simply followed the Government process we were asked to. We are shocked to see that Uninor is being penalized for faults the court has found in the Government process.
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Posted: February 2nd, 2012, 12:52am EST
American online retail giant Amazon.com has made an entry into the Indian market with Junglee.com, an online shopping site powered by the $48 billion company.
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Posted: February 2nd, 2012, 12:45am EST
State-run metal producer National Aluminium Co Ltd (NALCO) has raised aluminium prices by Rs 2,000 ($40.8) per tonne across all products.
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Posted: February 2nd, 2012, 12:10am EST
The Indian airline industry may be in the red, but domestic demand posted strongest growth recorded by any country in 2011.
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Posted: February 2nd, 2012, 12:09am EST
Insurance agents will now have to find out prospective buyers' retirement and protection needs before selling them a policy.
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Posted: February 1st, 2012, 11:14pm EST
The BSE benchmark Sensex surged by nearly 172 points in early trade on Thursday on buying by funds and retail investors, driven by encouraging quarterly earnings by corporates and firming trend on the other Asian bourses.
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Posted: February 1st, 2012, 11:00pm EST
The rupee strengthened on Thursday to its highest level in three months as risk appetite improved after strong manufacturing data from China and India to Germany helped ease worries about the global economy.
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Posted: February 1st, 2012, 8:24pm EST
Shares of Indian Oil Corp (IOC) plunged 6% on Wednesday on reports that it will have to pay over Rs 979 crore in unpaid entry tax to the Uttar Pradesh government within two weeks.
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Posted: February 1st, 2012, 8:18pm EST
The panel of secretaries set up by Prime Minister Manmohan Singh to resolve power sector woes on Wednesday took up the issue of coal shortage but could not take a final call on the trigger level, or the supply level below which the supplier becomes liable to pay.
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Posted: February 1st, 2012, 8:16pm EST
Two global private equity majors-Carlyle Group and Warburg Pincus-offloaded substantial chunks of their holdings in two of India’s leading financial services firms - HDFC and Kotak Mahindra Bank, respectively - through block deals on Wednesday, jointly worth about Rs 2,200 crore ($440 million).
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Posted: February 1st, 2012, 8:12pm EST
Iconic Italian luxury brand Giorgio Armani is looking to bring its high-end homeware and furnishings retail stores to India in the next one year. A senior executive from the group told TOI that talks were ongoing with potential local partners even as the group scouts for retail spaces to open its Armani Casa outlets in India.
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Posted: February 1st, 2012, 8:11pm EST
Lenders to National Aviation Co Ltd (Nacil), which operates under the Air India brand, are softening their stance on debt restructuring and have suggested that they could consider subscribing to the public sector company’s non-convertible debentures (NCDs) that carry government guarantee.
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Posted: February 1st, 2012, 8:09pm EST
Car sales entered the new year on a cautious note as high interest rates and petrol prices continued to suppress demand and incremental volumes flowed in from new-year discounts.
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Posted: February 1st, 2012, 8:04pm EST
In a sudden management realignment at Anil Ambani's Reliance Communications (RCOM), Syed Safawi, president of its wireless business , has exited the company.
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Posted: February 1st, 2012, 8:01pm EST
Boosted by strong manufacturing data and auto sales numbers, the sensex rallied about 250 points from its intra-day low, to finally settle with a 107-point gain at 17,301, its best close in 12 weeks.
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Posted: February 1st, 2012, 7:59pm EST
Binani Industries, the holding company of Braj Binani group, has acquired a Belgian fibreglass company, 3B, for 275 million euros, which at Wednesday's exchange rate translates to Rs 1,781 crore. 3B is a Europebased major in fibreglass products and technologies.
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Posted: February 1st, 2012, 7:56pm EST
After bargaining with hospitals to reduce charges, general insurers have turned to the auto industry to bring down cost of repairs , most of which is paid for by the insurance sector.
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Posted: February 1st, 2012, 7:54pm EST
Private equity (PE) firm Baring Private Equity Partners (BPEP) is investing $100 million (Rs 500 crore) in South India’s largest office space builder RMZ Corp. The PE player will back RMZ Corp’s acquisition of an office space project of 6 million sq ft in the technology hub of Bangalore.
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Posted: February 1st, 2012, 7:54pm EST
The country's manufacturing sector expanded at its fastest pace in eight months in January on the back of a sharp increase in new orders, a survey showed on Wednesday.
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Posted: February 1st, 2012, 7:52pm EST
The finance ministry is keen to introduce a commodities transaction tax (CTT) in the Budget to check speculation in non-farm goods despite opposition by exchanges and industry chambers.
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Posted: February 1st, 2012, 12:20pm EST
The stock market barometer Sensex could rise to the 20,000 points-mark by June, up from the present 17,000-level, despite subdued business confidence, a survey by JP Morgan Asset Management has said.
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Posted: February 1st, 2012, 8:41am EST
Experts say that Brazil, Russia, India and China will be among top-perforoming markets in 2012 and the stocks are doing pretty well so far this year.
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Posted: February 1st, 2012, 7:07am EST
The rupee closed at 49.2650/2750 per dollar, rebounding from the day's low of 49.66, gaining 0.4 percent from Tuesday's close of 49.44/45.
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Posted: February 1st, 2012, 6:29am EST
Overseas investors poured in over Rs 26,000 crore ($5.08 billion) in Indian markets in January 2012, the highest one-month net inflow in 16 months, as sentiments got a boost from easing inflation concerns and attractive valuations.
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Posted: February 1st, 2012, 6:26am EST
The Sensex, which had gained 330 points on Tuesday, gained another 107.03 points, or 0.62 per cent to close at 17,300.58, after touching the day's low of 17,061.55.
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Posted: February 1st, 2012, 6:25am EST
Shares of Reliance Industries (RIL) rose nearly 3% on bourses today ahead of the opening of its Rs 10,440 crore share buyback scheduled for tomorrow.
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Posted: February 1st, 2012, 6:22am EST
Shares of ICICI Bank today jumped nearly 6 per cent, after the country's largest private-sector lender reported 20 per cent growth in net profit for the third quarter ended December.
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Posted: February 1st, 2012, 6:19am EST
The Reserve Bank said all private sector banks will now be eligible to handle central and state government business as agents of the central bank, at par with public sector banks.
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Posted: February 1st, 2012, 5:29am EST
Maruti Suzuki rolled out a shorter and cheaper version of its entry-level sedan, Swift DZire, at a price between Rs 4.79 lakh for petrol and Rs 5.8 lakh for diesel.
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Posted: February 1st, 2012, 5:04am EST
India's fiscal deficit is likely to be about one percentage point higher than the budgeted 4.6 percent of gross domestic product in the current fiscal year that ends in March.
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Posted: February 1st, 2012, 4:01am EST
The carmaker's sales are down 14.5 percent so far this financial year, he added.
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Posted: February 1st, 2012, 3:54am EST
Maruti Suzuki India today rolled out a shorter version of its entry-level sedan Swift DZire at an introductory price between Rs 4.79 lakh and Rs 7.09 lakh (ex-showroom, Delhi).
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Posted: February 1st, 2012, 2:21am EST
India's manufacturing sector in January hummed along at its fastest clip in eight months, fuelled by new order growth, according to a survey released on Wednesday.
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Posted: February 1st, 2012, 1:43am EST
The above are simple truths, observable to anyone who cares to think a bit about what the history of capitalism and governance tells us.
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Posted: February 1st, 2012, 12:22am EST
Rupee weakened by 18 paise to Rs 49.64 per dollar in early trade on the Interbank Foreign Exchange today amid weak equity markets.
