MUMBAI: The rupee fell on Friday to end the week down 2 percent against the dollar, its worst performance in nearly two months, as a grim global economic outlook triggered concerns of capital outflows from local shares. The partially convertible rupee ended at 49.72/74 per dollar on Frida…

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Mumbai: Larsen and Toubro on Friday said it would soon take a decision on bidding for Satyam Computer Services after studying the CLB order. “(The) CLB order has come only at night, we are studying it. We hope to complete it (the study) by tonight and we will take a decision over th…

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Mumbai: The scale as well as speed of debt accumulation of the government is mind-boggling. Before the current fiscal runs out, the Centre would have contracted public debt at the rate of Rs 591 crore per day. This will gallop to a daily rate of Rs 746 crore during 2009-10, going by the p…

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New Delhi: Bharat Heavy Electricals Ltd (BHEL) may soon enter into a joint venture with the General Electric (GE) Company to make 1,000 locomotive engines for the Indian Railways. BHEL will have a minority stake of 23%, with GE being the majority partner with 51% equity stake. …

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MUMBAI: Indian equities ended sharply lower on Friday but off lows as traders covered shorts at crucial support levels. Banks, IT and metals ended with maximum losses. National Stock Exchange’s Nifty closed at 2745.40, down 43.95 points or 1.58 per cent. The index held on to its major s…

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IIFL has maintained its add rating on Glaxo Smithkline Pharma with a price target to Rs 1265 in its February 19, 2009 research report. “Glaxo’s 4QCY08 results were marginally below our expectations, mainly on lower EBIDTA margin, which declined 175 bps YoY and 869 bps QoQ to 28.4%…

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Indiabulls Securities Research has maintained its buy rating on Tech Mahindra with a target price of Rs 309 in its February 19, 2009 research report. “Tech Mahindra (TM) reported a disappointing performance for the quarter ended December 2008 as revenues went down 2.8% qoq to Rs 11….

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Normal operations, including payment and settlement activities in the Reserve Bank of India (RBI), are likely to be affected tomorrow with its employee unions going on one-day strike to press their demands on pension. Unions are going on a ‘mass casual leave’ demanding the re…

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Islamabad: The US has not paid Pakistan a penny for the last nine months for rendering its military services to fight the Taliban and Al Qaeda in the restive tribal areas bordering Afghanistan, a Pakistani official said Thursday. …

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Electrical equipment maker Areva T&D India today said it has bagged an order for equipment for the 765 kV substation of Lanco Infratech at Uttar Pradesh for an undisclosed amount.In a filing to the Bombay Stock Exchange, the company said it has bagged the first private sector 765 kV …

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