Anil Ambani-promoted Reliance Infrastructure (Rel Infra) violated the country’s overseas borrowing and foreign exchange rules by investing funds raised abroad in the domestic capital market, said Minister of State for Finance Pawan Kumar Bansal in the Parliament today. …

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The Securities and Exchange Board of India (Sebi) has received complaints of insider trading by Mukesh Ambani-owned Reliance Petroleum (RPL) and 18 other companies in the last three years, Finance Minister Pranab Mukherjee told the Lok Sabha today. …

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Washington: US president Barack Obama has signed into law the $787 billion economic stimulus package, which according to him would rejuvenate the American economy and create as many as three to four million jobs in the next two years. …

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MUMBAI: Geojit Financial Services sees resistance for the 30-share Sensex at 9084 and 9128. On the higher side, it has resistance at 9161, 9214 and 9277. Support is at 9000 and 8972. If the index falls further, it has support at 8856 and 8789. …

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Macquarie Research: The Indian retail sector is currently going through a rough patch. While falling real estate costs provide some relief, slowing same store sales growth and a capital crunch have impacted growth prospects and profitability. …

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MUMBAI: Despite weak cues from the global markets, Indian stocks managed to trim most of their early losses in a choppy trade Wednesday. National Stock Exchange’s 50-share Nifty closed the day 0.20 per cent higher at 2776.15 while BSE Sensex slipped 0.22 per cent to close at 9015.18. …

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MUMBAI: Crude oil prices were lower in Asian trade Wednesday. New York’s main futures contract, light sweet crude for delivery in March, eased to $34.92 per barrel. Brent North Sea crude for April delivery fell to $40.73. …

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The sentiment remains weak amid apprehensions that government efforts to combat the recession won`t be sufficient. US President signs stimulus bill into law US stocks tumbled on Tuesday, extending the current bad run in global equities amid mounting concerns that the worldwide recession i…

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Macquarie Research: In light of recent news on the renegotiation of coking coal contracts, we have reviewed Indian steel stocks’ positioning within the region and believe that a competitive advantage is returning to Indian companies. Steel prices dipped again in December by around $100/…

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Angel Broking: Hindalco proposes to use its share premium reserves to write off expenses incurred by the company on its international acquisition and domestic expansion. The company’s board has approved a proposal to this effect. …

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