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LIC hikes stake in HDFC Bank

Posted on: Friday, December 26th 2008 and is filed under Press Releases.

LIC picked up 160,000 shares of HDFC Bank from the open market, hiking its stake in the company to 5.01% from 4.97% earlier. The equity holding of the insurer has increased by 0.04% in the HDFC Bank. Life Insurance Corporation of India (LIC), has reportedly increased its stake in HDFC Ba...

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FIIs net sellers of Rs 345cr in cash mkt on 26-12-08

Posted on: Friday, December 26th 2008 and is filed under Market News.

Foreign institutional investors (FIIs) were net sellers of Rs 344.91 crore (provisional) today, according to data released by BSE.While FIIs made gross purchases of Rs 207.09 crore, gross sales totalled Rs 552 crore. Domestic institutional investors (DIIs) were net sellers of Rs 6.95 cro...

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BHEL bags Rs 5,040 cr contract from Jindal Power

Posted on: Friday, December 26th 2008 and is filed under Press Releases.

State run Bharat Heavy Electricals (BHEL) today said it has bagged a Rs 5,040 crore contract from Jindal Power for setting up 2,400 Mw power plant in Chhattisgarh. BHEL would install four units of 600 Mw each in O P Jindal super thermal power plant at Raigarh in Chhattisgarh. ...

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Govt approves Suzlon’s Rs1,800 cr Rights Issue

Posted on: Friday, December 26th 2008 and is filed under Stock News.

New Delhi: The government on Friday said that it has approved Suzlon Energy’s plan to raise Rs1,800 crore via allotment of shares to the existing shareholders including non-resident Indians through a rights issue, which the wind power major has apparently suspended. The Cabinet Committ...

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Nikkei hits 6-week high as risk appetite improves

Posted on: Friday, December 26th 2008 and is filed under Market News.

Hong Kong: Asia stocks edged up on Friday and Japan’s Nikkei average posted its highest close in six weeks as investors bet a raft of government measures will help the global economy recover next year. The dollar and yen slipped as portfolio managers shifted some funds into riskier ass...

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MFs get poorer by Rs150,000 cr in 2008

Posted on: Friday, December 26th 2008 and is filed under Press Releases.

New Delhi: They used to be an avenue of mutual gains for investors in both good and bad times for years, but incurred heavy losses in 2008, when mutual funds (MFs) became poorer by about Rs150,000 crore or about one-third of their total size. Such has been the impact of these losses, whi...

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PE investments in listed firms suffer $2.24 bn loss in ’08

Posted on: Friday, December 26th 2008 and is filed under Press Releases.

Private equity investments in public firms have tanked as much as $2.24 billion so far this year, thanks to the massive erosion in equity markets as well as the present economic downturn, a latest study says. “Due to continuous downfall and rough market conditions of 2008, the over...

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Indo-Pak tension hits D-Street

Posted on: Friday, December 26th 2008 and is filed under Market News.

The BSE Sensex ended at 9,328 losing 239 points and the NSE Nifty ended at 2,857 losing 59 points. Indian stock market ended the Christmas week with losses on account of the growing tension between India and Pakistan. Markets also witnessed Trading volumes were low not only in India but ...

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World Bank rejects Satyam’s demand for apology

Posted on: Friday, December 26th 2008 and is filed under Press Releases.

New Delhi: The World Bank has rejected Satyam Computer Service’s demand to withdraw a statement by which the organisation imposed an eight-year ban on any business with the IT major. Satyam Computers had earlier asked the international lender for an apology for its statement ...

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Man in Santa suit kills 8, self on Christmas Eve

Posted on: Friday, December 26th 2008 and is filed under Press Releases.

COVINA, Calif. – The Los Angeles County Coroner’s office says eight bodies have been found in the rubble of a home set ablaze after a Christmas Eve shooting massacre. Investigators ended their search Thursday night for other possible ...

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