Sun Pharma is Nifty's top gainer as Taro inks drug pact

Aug 30, 2013, 01.58 PM IST The stock movement is on the back of news that its subsidiary Taro Pharmaceutical has entered an exclusive licensing and co-development agreement with Novabiotics for its investigational new drug. ...

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May hike rates in Oct; margins will be hit on Re fall: VIP

The rupee depreciation has affected companies like VIP Industries  adversely, considering it imports a lot of raw material from China and a couple of other countries, says company chairman Dilip Piramal. However, Piramal refuses to take any knee-jerk measure...

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Barclays downgrades state-run financial shares

Aug 30, 2013, 01.26 PM IST The brokerage expects asset quality to remain problematic as the stress in economy is seen extending beyond the SME and mid-corporate segments to the large corporate segment. Like this story,...

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Land Acquisition Bill will lead to land shortage: DLF

The Land Acquisition Bill passed by Parliament on Thursday will lead to a shortage of land, thereby impeding the process of urbanisation, says Rajeev Talwar, group executive director, DLF . "We need to think about this in a very clear manner as...

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Buyback price of Rs 261 best offer in current set-up: JSPL

Ravi Uppal, MD & CEO, Jindal Steel and Power (JSPL), says since the aggregate buyback amount would not exceed Rs 1000 crore they would be able to fund it through cash in their balance sheet.The board of directors of the company approved the buy back...

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Mining can contribute up to Rs 11.25 lakh cr to GDP by 2025

Mining sector has the potential to contribute up to Rs 11.25 lakh crore to the GDP and create up to 1.5 crore jobs by 2025, Mines Minister Dinsha Patel said in the Parliament today.    "The government has prepared a strategic plan...

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Lodha Developers' realty with green touch pays off

In late 2012, Mumbai-based Lodha Developers shocked the street by buying a 17.5 acre land parcel in Worli from DLF for a jaw dropping Rs 2,700 crore. And in January this year, the company decided to monetize that land parcel by launching towers code...

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Tata Motors’s 3-day block closure begins in Jamshedpur unit

Aug 29, 2013, 06.29 PM IST A three-day block closure in Tata Motors Jamshedpur plant here has begun from today. The closure, which will be observed from August 29-31, was aimed to prevent unnecessary build up of inventory in the company...

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Rupee fall pinches home-owners; HDFC, ICICI Bk hike rates

The rupee free fall has forced HDFC and ICICI Bank , that together enjoy more than 40 percent of the home loan market, to hike their interest rates by 25 basis points. For HDFC 's customers home loan upto Rs 30 lakh will increase to 10.4 percent while...

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Lower price, outdated technology hit SAIL's profit: Verma

Sharp decline in steel prices, high operation cost and old and outdated technology are the primary reasons for lower profit of SAIL , Steel Minister Beni Prasad Verma said today.Profit after tax of Steel Authority of India (SAIL) came down to Rs 2,170...

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India picks seven banks for 5% stake sale in Coal India

India has selected seven banks including Goldman Sachs and Deutsche Bank to manage a five percent government stake divestment in state miner Coal India Ltd, two sources with direct knowledge of the situation said.At the current market price, the Coal...

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Adani Ports seeks fresh approval for SEZ at Mundra

Adani Ports and SEZ has sought fresh approval from the government for 1,856 hectares multi-product special economic zone at Gujarat's Mundra, which was denotified in October last year due to non-conformity with SEZ rules.    Company...

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Tax-cut plan set to revive India's iron ore exports

India's potential tax cut on iron ore exports could double its shipments of the steelmaking ingredient in the current year compared with industry estimates. India's potential tax cut on iron ore exports could double its shipments of the steelmaking...

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AirAsia India appoints director of flight ops, engg head

Low cost carrier AirAsia, which is expected to launch its domestic operations by year end, today announced two more key appointments - director of flight operations and head of engineering - for AirAsia India."We are proud to have Amit Singh as director...

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Godrej mulls moving plants from Vikhroli to cut cost

Godrej & Boyce Mfg Co today said it is looking at shifting some of its manufacturing plants from Vikhroli in Mumbai to other locations to cut costs as it stares at a sales growth of less than 5 percent this fiscal due to the economic slowdown.It...

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Airtel appoints Faria as new CEO of Africa; Kohli to return

Aug 28, 2013, 08.50 PM IST In a senior level rejig, Bharti Airtel today appointed Christian de Faria as the new CEO for African operations while Manoj Kohli, MD and CEO (International) will relocate to India. Like this...

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GoDaddy's customer base in India up 86%

US-based web hosting services provider and domain name registrar GoDaddy.com today said its customer base in India has increased 86 percent since launching operations in the country last year."GoDaddy selected India as a priority market last year and...

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Two more Financial Technologies' directors resign

Aug 28, 2013, 08.52 PM IST As its subsidiary NSEL struggles to meet payment obligations, two more directors on Jignesh Shah-promoted Financial Technologies (India) quit today. Like this story, share it with millions of...

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Sluggish hiring activities, layoffs on the anvil: Survey

Amid continuing economic uncertainties, less number of companies plan to create new jobs in the coming months, while some employers also expect layoffs, says a survey by job portal Naukri.com.Just about 54 percent of employers predict fresh job creation...

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RComm talks in progress on unit stake sale: Anil Ambani

Aug 27, 2013, 03.48 PM IST Reliance Communications, India's third-biggest mobile phone operator by customers, said in April it was in talks with a private equity consortium that included Samena Capital for the stake sale, after talks with...

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ONGC eyes foreign co for stake sale in Guj petchem project

Oil and Natural Gas Corp aims to sell at least a 25 percent stake in its USD 3.24 billion petrochemical project in Gujarat and is looking at foreign buyers, including Saudi Aramco, a company official said.Also Read: ONGC slips 4% as OVL plans to buy...

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Reliance Cap to invest Rs 100 cr in wind power proj: Ambani

Financial services major Reliance Capital is investing Rs 100 crore in a wind energy joint venture in the country, partnering with China's Ming Yang Wind Power Group.Ming Yang entered into an agreement with Reliance Capital last year to establish a joint...

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Power sector to get gas, but quantum a worry: GVK Power

"From March onwards, we have not been getting gas for our power projects," says A Issac George, Director & CFO, GVK Power and Infrastructure . One of the reasons why this has happened is because all the gas was diverted to fertiliser plants, he adds.Also...

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RIL cooperating unconditionally with CAG

Aug 27, 2013, 05.01 PM IST Reliance Industries has agreed to provide access to all records and cooperate unconditionally with the CAG for audit on its spending in the flagging KG-D6 gas fields, the Oil Ministry said today. ...

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NSEL board Chairman Shankarlal Guru quits

Aug 26, 2013, 04.02 PM IST Citing reasons of 'bad people' entering the crisis ridden National Spot Exchange (NSEL), Shankarlal Guru, its non-executive chairman resigned from his post on Monday. Like this story, share it...

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Seek one-time hike in diesel price: IOC

With rupee depreciating 12 percent against the US dollar and making imports costlier, state-owned oil firms have demanded a one-time steep increase in diesel rates to make up for the widening losses.PK Goyal,  IOC Director - Finance, spoke to CNBC-TV18...

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FMC to be transferred from consumer affairs to FinMin soon

The Forward Markets Commission (FMC) which is the regulatory authority of the commodity exchanges in India is likely to come under the Finance Ministry very soon. CNBC-TV18 learns that this transfer is in the final stages.The department of consumer affairs...

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Shell tax case: Bombay HC seeks reply from I-T in 4 weeks

The Bombay High Court on Monday heard the high profile tax battle involving Shell. The hearing saw Harish Salve launch the offensive questioning the income tax department seeking tax on capital receipts. He argued that there had been no revenue...

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New Companies Bill to make doing business easier: Govt

The new Companies Bill has certain provisions like faster registration through fully electronic MCA-21 and allowing firms to hold meetings through e-governance mode, that would "facilitate ease of doing business in India", the Parliament was informed...

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IPAMA seeks ban on import of old machines

Industry body Indian Printing Packaging and Allied Machinery Manufacturers' Association today said it wants the government to impose a ban on import of old  machines saying domestic firms are facing stiff challenges from such cheap low quality imports.Stating...

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ITC mulls merger of Wimco non-engineering biz with itself

Aug 24, 2013, 01.21 PM IST "A meeting of the board of directors of the company will be held on August 28 to consider a proposal for demerger of the non-engineering business comprising safety matches business and agri ( forestry) business...

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NSEL investors raise concerns with Finance Ministry

Investors stuck with the crisis-hit NSEL today met Economic Affairs Secretary Arvind Mayaram and sought that investigative agencies should take stringent action against those members who are not making payments."NSEL investors today met me and shared...

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DoT seeks Trai's views on spectrum trading

The Department of Telecom (DoT) has sought Telecom Regulatory Authority of India's (Trai) recommendations on spectrum trading, as had been reported by CNBC-TV18 in July. This will enable telecom companies to sell spectrum like any other asset for a price....

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RBI ups FII investment limit in Mahindra Lifespace to 49%

Aug 24, 2013, 04.12 PM IST Reserve Bank of India has increased foreign investment limit in Mahindra Lifespace Developers (erstwhile Mahindra Gesco Developers) to 49 percent from 30 percent. Like this story, share it with...

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Infosys loses another senior executive in Sudhir Chaturvedi

Infosys vice president and financial services head for the Americas, Sudhir Chaturvedi, has put in his papers, marking another high-profile exit at the country's second-largest software services firm."Sudhir Chaturvedi has resigned from the company,"...

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Govt asks TRAI to reconsider cap on ads on channels

Information and Broadcasting Minister Manish Tewari today asked TRAI reconsider the issue of imposing the 12- minute advertisement cap on news channels suggesting the implementation could be made synchronous withthe government's digitisation drive."For...

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ITC mulls merger of Wimco non-engineering biz with itself

Aug 24, 2013, 01.21 PM IST "A meeting of the board of directors of the company will be held on August 28 to consider a proposal for demerger of the non-engineering business comprising safety matches business and agri ( forestry) business...

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NSEL investors raise concerns with Finance Ministry

Investors stuck with the crisis-hit NSEL today met Economic Affairs Secretary Arvind Mayaram and sought that investigative agencies should take stringent action against those members who are not making payments."NSEL investors today met me and shared...

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DoT seeks Trai's views on spectrum trading

The Department of Telecom (DoT) has sought Telecom Regulatory Authority of India's (Trai) recommendations on spectrum trading, as had been reported by CNBC-TV18 in July. This will enable telecom companies to sell spectrum like any other asset for a price....

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RBI ups FII investment limit in Mahindra Lifespace to 49%

Aug 24, 2013, 04.12 PM IST Reserve Bank of India has increased foreign investment limit in Mahindra Lifespace Developers (erstwhile Mahindra Gesco Developers) to 49 percent from 30 percent. Like this story, share it with...

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