Cairn India declares maiden dividend

Cairn India , majority owned by billionaire Anil Agarwal's Vedanta Group, today declared its maiden dividend of Rs 5 per share. The interim cash dividend of Rs 5 on a face value of Rs 10 per share "is proposed to be paid on or before November 15, 2012,...

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BoB to keep Rs 120cr for provisioning restructured assets

The Reserve Bank of India raised the provisioning on restructured assets to 2.75 percent from 2 percent earlier. The central bank also cut cash reserve ratio (CRR) by 25 basis points to 4.25 percent. RK Bakshi, ED of Bank of Baroda said their total restructured...

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Airtel launches network experience centre at Manesar

Bharti Airtel today launched a network experience centre (NEC) at Manesar to monitor its various services across India and South Asia from a single location.    The earthquake proof facility, which is the first of its kind in India,...

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Airports Authority looking at options to recover KFA dues

Moneycontrol BureauThe Airports Authority of India (AAI) is looking at options of recovering Rs 300 crore which Kingfisher Airlines owes it for using airport infrastructure. V.P. Agrawal, chairman, AAI said he may even look at exploring legal action...

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Call for hike in telecom tariffs: Bharti Airtel

Bharti Airtel CEO Sanjay Kapoor has called for a hike in telecom tarriffs and says it is imperative for prices to be hiked if the industry were to be kept up and running. On the issue of DOT's possible imposition of a fine on the company for under-reporting...

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Maruti exec says new wage settlement to impact margins

Maruti Suzuki , India's biggest carmaker, will see its margins impacted by 15-30 basis points over the next two years as a result of the new wage settlement with its workers, its CFO Ajay Seth said on Tuesday.Maruti, controlled by Japan's Suzuki Motor...

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UBS India investment banking head resigns

Swiss bank UBS's head of India investment banking, Ashok Mittal, has resigned, a spokesman for the bank said on Tuesday.The departure of Mittal, who was named the head of India investment banking at UBS in June of last year, was an isolated incident...

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Muthoot Finance aims at Rs 7k crore worth biz transactions

Kerala based Muthoot Finance today said it hoped to double its business transactions to Rs 7,000 crore in value terms by the end of this fiscal.The company made transactions valued at about Rs 3,500 crore in 2011-12, Muthoot Group Executive Director...

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CCI finds no cartelisation among tyre manufacturers

In a relief to tyre makers, the Competition Commission today said it has not found any evidence of cartelisation among the country's tyre manufacturers including Apollo , MRF and Ceat .In its order, the Commission said there is "no sufficient evidence...

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Builders unhappy with RBI policy; seek interest rate cut

Realty firms and property consultants today expressed disappointment over RBI's decision to keep key policy rate unchanged and said it was the right time to bring down the borrowing cost for home buyers as well as developers."CREDAI has expressed strong...

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Bhartiya Group launches 125-acre real estate project

Bhartiya Group today announced the launch of real estate project, "Bhartiya City", a 125-acre integrated city near Hebbal here.    The eight "districts" of Bhartiya City bring together homes in different formats, work spaces including...

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Hyundai Motor to hike prices by up to Rs 5,000 from Nov

Hyundai Motor India Ltd (HMIL)today said prices of its vehicles across models will go up by up to Rs 5,000 from November 1."The price increase has been necessitated by a variety of input costs," HMIL Vice-President (National Sales and Marketing) Rakesh...

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ONGC well in K-G block leaking gas

A deepwater well in a Krishna Godavari basin block operated by state-run Oil and Natural Gas Corp ( ONGC ) has been leaking gas for two months and there are now fears of environment damage due to the uncontrolled flow.The well G-1-9 in Bay of Bengal...

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PE investment in realty sector drops by 15% in Jan-Sept '12

Private equity investment in the real estate sector declined by 15 percent in the first three quarters of 2012 calendar year to Rs 3,500 crore compared with the year-ago period, according to global property consultant Cushman and Wakefield.The consultant...

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Zensar wins over USD 21m of new deals in October

Zensar Technologies , a leading global software services company, today announced a surge in its manufacturing and BFSI verticals, winning new deals worth over USD 21 million in October.Infrastructure and enterprise application services have been key...

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United Spirits chief Mallya not sure of Diageo deal

Liquor baron Vijay Mallya does not know whether a deal for UK drinks giant Diageo Plc to take a stake in his United Spirits Ltd will be struck or not, he said on Saturday.Mallya has been scrambling to raise funds for his ailing Kingfisher Airlines Ltd...

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Indian companies created 50,000 jobs in US: Burns

At a time when unemployment is a major issue in the US due to its poor economic status, Indian companies through its massive investments in America have created 50,000 jobs in the country, a top US diplomat said."Our economic relationship is very much...

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Zee, JSPL trade defamation charges against each other

Zee News  today said it has sent a Rs 150 crore defamation notice to Congress MP and industrialist Naveen Jindal, who too had filed a Rs 200 crore case against the media conglomerate claiming the TV channel had tried to extort money from his company."Zee...

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Reebok eyes sales rebound in 2013

Sat, Oct 27, 2012 at 15:36 German sporting goods maker Adidas AG's struggling Reebok brand expects sales to rebound next year, German magazine Wirtschaftswoche reported on Saturday, citing Chief Marketing Officer...

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Sebi asks investors not to yield to pressure from Saharas

Sebi today advised investors against yielding to any pressure from "Saharas or their agents" for switching over their investments in two Sahara companies -- SIRECL and SHICL -- to other group companies. In August, the Supreme Court had directed SIRECL...

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Reebok eyes sales rebound in 2013

Sat, Oct 27, 2012 at 15:36 German sporting goods maker Adidas AG's struggling Reebok brand expects sales to rebound next year, German magazine Wirtschaftswoche reported on Saturday, citing Chief Marketing Officer Matt O'Toole. ...

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United Spirits chief Mallya not sure of Diageo deal

Liquor baron Vijay Mallya does not know whether a deal for UK drinks giant Diageo Plc to take a stake in his United Spirits Ltd will be struck or not, he said on Saturday.Mallya has been scrambling to raise funds for his ailing Kingfisher Airlines Ltd...

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Indian companies created 50,000 jobs in US: Burns

At a time when unemployment is a major issue in the US due to its poor economic status, Indian companies through its massive investments in America have created 50,000 jobs in the country, a top US diplomat said."Our economic relationship is very much...

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Zee, JSPL trade defamation charges against each other

Zee News  today said it has sent a Rs 150 crore defamation notice to Congress MP and industrialist Naveen Jindal, who too had filed a Rs 200 crore case against the media conglomerate claiming the TV channel had tried to extort money from his company."Zee...

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Sebi asks investors not to yield to pressure from Saharas

Sebi today advised investors against yielding to any pressure from "Saharas or their agents" for switching over their investments in two Sahara companies -- SIRECL and SHICL -- to other group companies. In August, the Supreme Court had directed SIRECL...

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DoT to request for EGoM meeting in early Nov

The Department of Telecom will seek time from Empowered Group of Ministers, headed by Finance Minister P Chidambaram, for a meeting in early November to consider the issue of reallocation of spectrum to mobile operators.    "We will...

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Healthcare IT sector gets $194m VC funding in Sept quarter

The global venture capital (VC) funding for the healthcare IT sector continued to be strong as deals worth USD 194 million were announced during the July- September quarter of 2012, says a report. According to a report by Mercom Capital Group, a global...

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SBI hit by sector's asset quality worries

Shares in State Bank of India fall 1.2 percent on concerns of a potential increase in bad loans in the July-September quarter, after other state-run banks such as Punjab National Bank and Indian Overseas Bank posted a surge in non-performing assets.Punjab...

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Virgin resumes Mumbai-London flights, to invest ­­£300m

Moneycontrol BureauVirgin Atlantic has resumed its London-Mumbai flights after discontinuing it for three years. The airline would be investing 300 million pounds for its India operations.The British airline had withdrawn services from Mumbai...

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One or two Indian airlines may disappear: Richard Branson

How do you introduce a man who has started his first business venture when he was just 16, create over 400 different companies and tried to travel the world in a hot air balloon? I won't even bother attempting to introduce him because anything that I...

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MP Naveen Jindal accuses Zee TV of extortion, shows video

Congress MP Naveen Jindal has filed a criminal case against Zee TV for a sting operation about his company's alleged involvement in the scam-tainted coal block allocations. Jindal alleged that he was asked for cash to stop the negative story on him.In...

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Kotak Mahindra says retail credit quality may deteriorate

Private-sector lender Kotak Mahindra Bank could see a deterioration in the credit quality of its retail loan book, going forward, its chief financial officer said.Indian private sector banks have posted robust growth in recent quarters, although worsening...

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CESC to acquire 49.5% equity in FirstSource: Sanjiv Goenka

Sanjiv Goenka of CESC told CNBC-TV18 the company will acquire 49.5% equity in FirstSource Solutions for Rs 280 crore. FirstSource in turn would utilise the amount for the repayment of outstanding FCCBs, informed Goenka. CESC is scheduled to buy 5 percent each...

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Cabinet approves 10% stake sale in NMDC: Praful Patel

The cabinet approved a proposal on Thursday to sell a 10 percent stake in the state-run NMDC Ltd via a share sale, Heavy Industries Minister Praful Patel told reporters.The government is looking to raise Rs 30,000 crore selling shares in state-run firms...

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Cognizant to invest $25m for data centres in US, Europe

As part of measures to expand its presence in North American and European markets, IT major Cognizant would initially invest USD 25 million to open additional data centres, the company said today."As part of the strategy, the company will initially invest...

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BPCL imposes over Rs 87 lakh fine on gas agency

Bharat Petroleum Corporation Limited (BPCL) has imposed a fine of over Rs 87 lakh on a gas agency in the district for alleged irregularities in supply of cylinders.The gas agency at Chandkhuri village was allegedly involved in black marketing of domestic...

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Kingfisher succumbs to pressure, to pay Oct salary to staff

Apparently succumbing to pressure from its employees demanding clearance of salary dues, Kingfisher management on Wednesday said it would expedite payment of October salary ahead of Christmas and claimed that "most" of them had agreed to resume work...

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'Airtel, Infosys, TCS among most sought after employers'

Six major Indian companies, including Bharti Airtel , Infosys and Tata Consultancy Services , have made the cut in list of 20 'Most In Demand Employers' compiled by professional network LinkedIn.Besides, Wipro Technologies, HCL Technologies and Mahindra...

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Cairn India is the fastest growing energy company: Platts

Seventy Asian oil and gas companies, including those from India and China, were ranked in the 2012 Platts Top 250 Global Energy Company Rankings based on their financial performance in 2011.While ExxonMobil maintained its number one position in the list,...

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PMO asks CIL, CEA to work on price-pooling of coal

With impasse over the price pooling mechanism of imported coal remaining unresolved, the Prime Minister's Office (PMO) has asked both Coal India and Central Electricity Authority to work on the issue."The PMO has recently asked both CIL and CEA to sit...

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Nissan Motor to hike Micra, Sunny prices from Nov 1

Moneycontrol BureauPassenger car maker Nissan Motor India on Tuesday said it will increase prices of its Micra hatchback and mid-size Sunny sedan from November 1, to counter a sharp increase in logistics and transportation costs, apart from rising input...

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Lupin eyes 15 new drug launches in US by March 2013

Indian drugmaker Lupin plans to launch at least 15 new generic products in the United States in the current fiscal year ending March 2013, as it looks to push up sales in the world's biggest drug market, a top executive said on Tuesday."About eight to...

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Kingfisher: Pilots, engineers reject 3-month salary offer

The Delhi, Bangalore and Chennai pilots and engineers have rejected Kingfisher Airlines' three-month salary offer, according to sources. However, a majority of Mumbai pilots and engineers have accepted the salary offer.Meanwhile, Civil Aviation Minister...

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Yes Bank gets board nod for mutual funds foray

Mid-sized private lender Yes Bank has received board approval to foray into the mutual funds business, Chief Executive Officer Rana Kapoor told reporters on Tuesday.Last month, the bank had received a retail equities broking licence from the Reserve...

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US prosecutors consider 8-10 yr jail term for Rajat Gupta

US prosecutors are considering a 8 to 10 year prison term for former Goldman Sachs Group board member Rajat Gupta. But, Gupta convicted of insider trading in June has the whos who of the developing and developed world to his side. So far, more than two...

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Posco-India seeks further extension of its SEZ validity

Unable to get required land for its proposed multi-product SEZ within the stipulated time, Posco-India has sought the Odisha government's recommendation for further extension of the in-principle approval for thepurpose.".... We are afraid that we may...

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TRAI allows telcos to provide combo recharge coupons

Telecom regulator TRAI today allowed operators to provide a new type of recharge coupon for pre-paid connections that will provide dual benefit toconsumers.The new "Combo vouchers" will enable customers to add value in their mobile phone account as well...

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Ginger Hotels to treble presence in 4 years

Nachiket KelkarMoneycontrol.comIndian Hotels' subsidiary Roots Corporation plans to treble the number of Ginger Hotels in next four years, Prabhat Pani, CEO, said Monday. The number of foreign tourist arrivals in India is expected to double to...

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Kingfisher crisis continues as staff demands 4 months

The impasse in the crisis-hit Kingfisher Airlines continued on Monday after a section of its employees rejected its offer of three months' salary before Diwali and demanded that their four months salaries be paid within a day or two. Satish Chandra Mishra,...

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Hope KFA submit credible plan to DGCA

Kapil Kaul of CAPA, says that if the employees don't come into the game then there will be no future at all. I believe the employees were insisting for four months salaries, but if the management has agreed to three months salaries then they will be...

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Fares may go up with KFA's suspension: Ajay Prasad

Ajay Prasad, former aviation aecretary, says that in this situation is very difficult for Kingfisher to make a comeback. They do not have a winter schedule; it will be difficult to retain their employees. Kingfisher haven't yet been able to give any...

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Kingfisher Airlines revival possibility dim: Kapil Kaul

Kapil Kaul, head of Center of Asia Pacific Aviation (CAPA), says that it is not a cancellation but a suspension. There was suspension earlier, this is basically legally and formalising the suspension.Below is the edited transcript of the interview Q:...

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KFA need more credible plan to stay afloat: KPMG

Amber Dubey, head aviation, KPMG shares his views after DGCA suspended KFA licence.Below is the edited transcript of his interview to CNBC-TV18. Q: What is your initial reaction to the cancellation of this licence? Do you think that things have come...

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'Decision may help Kingfisher arrange funds'

Aviation regulator DGCA today suspended the flying licence of Kingfisher Airlines  after the beleaguered airline failed to come up with an adequate reply to the showcause notice. Kingfisher also could not provide a viable plan for its financial...

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Indian Bank confident to lower its NPAs

In this quarter, Indian Bank posted rise in NPAs and worsening of asset quality, However, the management is confident that the bank is geared up to make more cash recoveries and going forward the NPAs will reduce. TM Bhasin, CMD, Indian Bank, says...

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Kingfisher Airlines revival possibility dim: Kapil Kaul

Kapil Kaul, head of Center of Asia Pacific Aviation (CAPA), says that it is not a cancellation but a suspension. There was suspension earlier, this is basically legally and formalising the suspension.Below is the edited transcript of the interview Q:...

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