| News Central |
Sep 2, 2010 |
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BUSINESS STANDARD
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FII-TO-FII TRADES: PNB traded at 9% premium
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Trades between FIIs generated a volume of Rs 86 crore on the BSE Thursday-an decrease of 17.82% from Rs 104 crore clocked on Wednesday. As many as nine stocks witnessed trades of 16 lakh shares on Thursday.
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Gulf oil rig explodes off US coast
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An offshore oil rig exploded in the Gulf of Mexico today, west of the site of the April blast that caused the massive oil spill.
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NLC contract workers defer Sept 8 strike plan
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Around 13,000 contract workers of public sector Neyveli Lignite Corporation (NLC) today deferred their indefinite strike called on September 8, after the management requested for more time to examine an eight-point charter of demands.
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Group not pushing me out, my desire to quit: Tata
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Asserting that he was not being pushed out as chairman of the $71 billion conglomerate Tata Group, Ratan Tata said that he opted out of the selection committee to avoid giving the impression that he is influencing the succession plan.
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Mahindra Satyam to tap new opportunities in US health sector
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Mahindra Satyam today said it is looking to tap upcoming opportunities brought about by the recent reforms in the US healthcare sector.
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Independent directors' quality matters the most: Irani
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Tata Sons Director Jamshed Irani today said the quality of independent directors matters the most to a company, rather than their numbers or qualifications.
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Pitroda slams BSNL for losing first-mover advantage on 3G
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Advisor to the Prime Minister and telecom czar Sam Pitroda today slammed state-run Bharat Sanchar Nigam (BSNL) for losing its competitive edge over other operators by not starting 3G services earlier.
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RBI study doubts efficacy of price data for monetary policy
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Even as the Reserve Bank of India (RBI) has been tightening monetary policy to attack inflation, a study by the central bank says various measurements of the rate of price rise in India make it difficult to frame policies, as all of them are volatile in nature.
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Mahindra & Mahindra to launch passenger vehicle variant
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Auto major Mahindra and Mahindra would launch a passenger vehicle variant under the Maxximo platform over the next 12 months, a top company official said here today.
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Organic industry targets Rs 4,000 cr by 2012
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The Indian organic industry is aiming to up its total turnover, including exports, from Rs 675 crore to Rs 4,000 crore by 2012, a senior ICCOA official said today.
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Kotak Life launches 2 new Ulips
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Kotak Life Insurance today launched two new unit-linked insurance plans (Ulips) -- Kotak Secure Invest Insurance and Kotak Wealth Insurance-meeting the new Irda guidelines.
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Cibil launches Mortgage Check to level out home loan market
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Fraudulent home loan seekers and habitual defaulters will have a tough time now as lenders have a ready pool of information available on them, with the launch of the country's first electronic centralised database of mortgage information called Cibil Mortgage Check.
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Bank of America Merrill Lynch ropes in Sanjiv Malhotra
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Bank of America Merrill Lynch today said that it has appointed Sanjiv Malhotra as the country risk manager.
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SC rap: Govt to allot 2.5 MT foodgrains for BPL families
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Acting on the directive of the Supreme Court, government today decided to release an extra 2.5 million tonnes of foodgrains to states for distribution among the poor but it will not not be free.
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Lehman preps bank units for sale or shutdown
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Lehman Brothers Holdings Inc, the bankrupt US investment bank, needs at least $550 million to keep its two bank units going as it prepares to sell them or shut them down in 18 months, court documents show.
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Bajaj Finserv enters infra finance
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Bajaj FinServ, the financial services arm of the Bajaj Group, today announced its entry into the infrastructure finance sector and appointed Anand K Gore as its chief executive.
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HP wins 3PAR for $2.4 bn, Dell bows out
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Hewlett-Packard Co won the bidding war to buy data storage company 3PAR Inc for $2.4 billion, after rival Dell Inc bowed out from a drawn-out bidding war on Thursday.
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RBI clears debt restructuring for aviation sector
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The Reserve Bank of India (RBI) has allowed banks to restructure the debt of the cash-strapped aviation sector to help the beleaguered industry come out of financial turmoil, sources said today.
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Gems, jewellery export growth pace may slow to 15% in FY11
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Gems and jewellery exporters have expressed fear that they may clock only 15 per cent export growth in 2010-11 due to uncertainty in the global markets even as the shipments grew 67.5 per cent in April-June.
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HPCL plans to set up Rs 15,000-cr refinery on west coast
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State-run Hindustan Petroleum Corporation (HPCL) plans to invest about Rs 15,000 crore in setting up a 9 million tonnes-a-year refinery on the west coast. The new refinery, which may be in Raigad district of Maharashtra, is being mulled to make up for space constraint that its Mumbai refinery faces at present.
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