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Sensex down 66 points in early trade

Sensex down 66 points in early trade

Mumbai: The BSE benchmark Sensex on Tuesday fell by over 66 points in early trade as investors booked profits after yesterday’s strong rally amid a mixed trend on other Asian bourses. The 30-share index fell by 66.06 points, or 0.32 percent, to 20,539.02, led by losses in stocks of FMCG, IT, banking, realty and oil and gas sectors. The Sensex ...

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Iran briefs India over landmark nuclear deal

Iran briefs India over landmark nuclear deal

Iran Monday briefed India about the landmark agreement — restricting its nuclear programme but providing relief from sanctions — that it signed Sunday with the US and five other global powers, said official sources here. According to the sources, Iran’s Deputy Foreign Minister Ebrahim Rahimpour briefed Foreign Secretary Sujatha Singh on the issue here Monday. Rahimpour also called on the ...

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Sensex gains over 223 points to snap three-day losing streak

Sensex gains over 223 points to snap three-day losing streak

Mumbai: Snapping its three-day losing streak, the BSE benchmark Sensex recovered over 223 points in early trade Monday on emergence of buying by funds amid a firming trend in other Asian markets. The 30-share index, which had lost nearly 674 points in the previous three sessions, recovered 223.26 points, or 1.10 percent, to 20,440.65, with stocks of banking, realty, oil ...

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Bengal’s index of industrial production higher: Mitra

Bengal’s index of industrial production higher: Mitra

The index of industrial production of West Bengal grew higher than the national figure, state Finance Minister Amit Mitra said Sunday. Index of industrial production is the index which details the growth of various sectors of industry. “These are the pillars of growth that the West Bengal government has been able to achieve, so it is a proud moment for ...

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Starting a business in India tough, says Canadian chef

Starting a business in India tough, says Canadian chef

New Delhi: The flavours of the Pita Pit food joint have been tasted in over 400 locations around the globe and its doors have now opened in Gurgaon too. Setting up the business here has however been a task which required “patience”, says founder Nelson Lang, a well-known chef from Canada, but says “India is the future in many respects.” He ...

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India’s states must drive its growth: Anand Mahindra

India’s states must drive its growth: Anand Mahindra

New Delhi: India can create its own unique model of growth and the country’s federal system holds the key to unlocking the potential, believes Anand Mahindra, chairman and managing director of global conglomerate Mahindra & Mahindra. The heady optimism about the India growth story following the high economic performance of the early 2000s has over the years given way to disappointment ...

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Pfizer, Wyeth to merge under single brand

Pfizer, Wyeth to merge under single brand

New Delhi: Drug majors Pfizer and Wyeth on Friday said they will merge their India operations under a single brand as part of efforts to boost business. The operations would be unified under ‘Pfizer brand’. The Board of Directors of Pfizer Ltd and Wyeth Ltd, in their respective meetings today, approved a proposal to merge Wyeth India with Pfizer India, ...

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Containing trade deficit at $150 bn will be good: Chidambaram

Containing trade deficit at $150 bn will be good: Chidambaram

Exhorting traders to push exports by cashing in on attractive Indian rupee exchange rate, Finance Minister P. Chidambaram today said imports cannot be “compressed” too much as they are the lifeline of many domestic industries. Speaking at an interactive session with exporters, Chidambaram said the trade deficit for the period April-October of this fiscal is around $90 billion and if this could ...

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Gold price plummets Rs 500 to to Rs 31,100 on sluggish demand

Gold price plummets Rs 500 to to Rs 31,100 on sluggish demand

New Delhi: Gold plunged Rs 500 to Rs 31,100 per ten grams in the national capital today on profit-selling by stockists at prevailing higher levels and sluggish local demand. Silver also nosedived by Rs 570 to Rs 45,300 per kg on reduced offtake by jewellers and industrial units. Traders said profit-selling by stockists at prevailing higher levels and sluggish local ...

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Govt to review FDI policy in pharma sector on Monday

Govt to review FDI policy in pharma sector on Monday

New Delhi: Government will take up on Monday the issue of tightening FDI in existing pharmaceutical companies in the wake of concerns over multinationals taking over domestic drug makers. “The Cabinet will review the FDI policy in pharmaceutical sector on Monday,” an official said. The Department of Industrial Policy and Promotion (DIPP) has proposed to reduce FDI cap from 100 ...

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2G spectrum base price hiked up to 25%

2G spectrum base price hiked up to 25%

New Delhi: Backing the Telecom Commission, the Empowered Group of Ministers (EGoM) on Friday accepted the panel’s recommendations on higher reserve price of 900 MHz and 1800 MHz spectrum and said it will refer the 800 MHz spectrum for pricing once again to the telecom regulator. The 900 MHz and 1800 MHz is for GSM while 800 MHz is for CDMA. ...

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NHPC to buy back Rs.2,368 crore worth of shares

NHPC to buy back Rs.2,368 crore worth of shares

Government-run NHPC Friday said it will buy back Rs.2,368 crore worth of shares. The buyback opens Nov 29 and will last till Dec 12, NHPC said in a statement. The company proposes to buy back up to 123,00,74,277 fully paid up equity shares of face value Rs.10 each. NHPC offers to buy back the shares at Rs.19.25 each. NHPC share ...

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Manufacturing share in India’s GDP at lowest in 10 years: report

Manufacturing share in India’s GDP at lowest in 10 years: report

Mumbai: Share of manufacturing in India’s gross domestic product (GDP) has declined to 15.1 percent this year, the lowest level in the past 10 years, a research report showed Friday. According to a survey conducted jointly by the Confederation of Indian Industry (CII) and the Boston Consulting Group, 83 percent executive directors of companies that participated in the survey feel that ...

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As China flattens out, IHG to focus on India market

As China flattens out, IHG to focus on India market

Kochi: International hotel chain InterContinental Hotels Group (IHG) will focus on India in the next decade with a target of 150 hotels, the majority of them in the mid-scale business hotels category in Tier-II cities across the country. With the hotel market flattening out in China after the initial boom, IHG is seeing aa huge potential in India among all the ...

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