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Sensex fail to retain gains, ends 106 pts down
The market opened on a firm note this morning as blue chip stocks bounced back after recent losses thanks to a couple of positive triggers. In order to inject some liquidity into the system, the Reserve Bank of India had annoucned a 50 basis point cut in Cash Reserve Ratio yesterday and the market regulator SEBI decided to relax curbs on issuance of Participatory Notes by FIIs in both cash and derivative segments.
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ICICI Bank, Dish TV launch banking interactive service
ICICI Bank, India's largest private sector bank today announced the launch of their Interactive Banking Service 'ICICIATIVE' in association with Dishtv, India's No 1 Direct-To-Home (DTH) company.
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Tata`s pull out spoils the colour of festivities in Singur
Ratan Tata's pull-out announcement on the eve of Durga puja spoiled the colour of joy and entertainment among people here.
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Sensex down 155 pts, looks set for a weak close @ 15:57 hrs
The market, which opened on a buoyant note this morning following SEBI's decision to lift restriction on issue of participatory notes and the Reserve Bank of India's surprise steep 50 basis cut in the cash reserve ratio, has been struggling amid high volatility after suffering a sharp setback in mid morning trade.
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Citi sues Wachovia & Wells Fargo for $60 b
In the acquisition scramble for Wachovia bank, Citigroup on Monday sued rival Wells Fargo & Co and Wachovia for $60 billion in punitive and compensatory damages, Citigroup said.
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Sensex regains some lost ground; Rolta, GVK Power tumble
Stock prices continue to move in a volatile manner on the major Indian bourses this afternoon. Though the moves by the Apex bank and the market regulator triggered some strong buying in several blue chip stocks this morning, investors remain none too keen on holding positions due to negative global sentiment.
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UBS calls global recession in 2009
The world economy will slip into a recession in 2009 and, although Asian economic growth will be dragged down as a consequence, India will escape relatively unscathed, with only minor downside risk to growth, say economists at the leading Swiss bank UBS.
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Sensex slips after a good recovery @ 14:37 hrs
The Sensex, which had crashed to 11,501.85 and lost around 300 points about forty five minutes ago but recovered a significant portion of lost ground thanks to resumption of buying in select blue chip stocks, has declined sharply once again on a fresh bout of selling.
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Mesco to set up cargo airline
Mesco Group is evaluating a major re-entry into the aviation business. A senior official from the company said the large-scale revamp could include international air cargo operations.
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Sensex plunges by over 250 pts; Sterlite among major losers
Due to heavy selling capital goods, information technology, metal, pharma, bank and FMCG stocks, the market has plunged deep down into the red once again.
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Citigroup, Wells Fargo agree on truce
Citigroup Inc and Wells Fargo and Co agreed on Monday on a 44-hour truce in fight over acquiring Wachovia to give negotiators time to sort out the issues and reach a compromise.
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India can weather the global financial storm: Chidambaram
The global financial crisis will affect India indirectly and require industry and the regulators to remain ever so vigilant to weather the storm, Finance Minister P. Chidambaram has said.
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Sensex pares gains amid volatile trade; Nifty up 35 pts
With central banks and market regulators across the globe stepping in with some measures to tackle the financial crisis, markets are seen attracting some fresh buying today.
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300 likely to be shifted to make way for Nano
With the passing of every day, it is becoming clear that if Nano plant is shifted to Gujarat it will be in Northcote Pura near Sanand.
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World Bank seeks India's help to tackle economic crisis
World Bank Group President Robert B. Zoellick has suggested formation of a core group comprising seven emerging powers, including India, joining the Group of Seven to deal with the global economic crisis.
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Tata's Nano from Gujarat
Within days of exiting from West Bengal, Tatas have decided to relocate their Rs 1 lakh-Nano car project in Gujarat, after scouting many sites including Karnataka and Andhra Pradesh.
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Sensex rebounds into the positive zone; RIL, ONGC shine
The Sensex, which had tumbled to 11,591.58 a little past noon, has rallied smartly to 11,868.01, netting a modest gain of 66.31 points, thanks to some frenzied buying in select blue chips, including heavyweight Reliance Industries. The Nifty is up with an impressive gain of 58.30 points or 1.62% at 3660.65.
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Sensex crashes into the red after an upbeat start
After a strong start thanks to a couple of positive triggers, the Sensex slipped into the red this morning as the mood turned bearish once again due to extreme weakness in Asian markets.
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Sensex pares gains; ITC, L&T decline sharply @ 10:58 hrs
After a spectacular start and a subsequent move up north, the Sensex has pared a significant portion of its gains now due to stiff resistance encountered by a few blue chip stocks at higher levels.
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Pay hike for teachers
The UGC Pay Review Committee’s recommendation is significant on two counts: one, it recognises teachers’ contribution to the country’s future and, second, the revised pay scale is not related to IAS cadre salary.
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