By Rajkumar Ray and V. Ramakrishnan NEW DELHI/MUMBAI (Reuters) – Indian manufacturing activity contracted at the start of 2009 and its exports shrank at the end of 2008, pointing to more pain for Asia’s third-largest economy as the sharp global slowdown bites. …

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MUMBAI: Indian equities ended with huge losses on Monday in line with its peers after concerns of deteriorating global economy took centrestage. Fall in shares of rate sensitive sectors coupled with profit booking after previous week’s gains pulled down indices further. Bombay Stock Exc…

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As prospective bidders for crisis-ridden Satyam Computer Services start lining up, industrialist BK Modi’s Spice Communication joined the fray to buy out the troubled IT firm. Modi, however, made it clear that the telecom group would be interested in buying out Satyam and that it was no…

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The Sensex is now down 357 points at 9,068.DLF has slumped nearly 13% to Rs 155, and Jaiprakash Associates has tumbled over 11% to Rs 68. Reliance Infrastructure has plunged over 8% to Rs 535. HDFC and ICICI Bank have shed nearly 7% each at Rs 1,431 and Rs 388, respectively. …

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Davos: NRI business leader Gopichand Hinduja has said scandals such as the one in Satyam Computer will continue to haunt developed and developing countries, although this particular scam may have happened because the IT firm’s founder Ramalinga Raju managed to outsmart the regulator…

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Mumbai: Amidst the hullabaloo over the affairs at Satyam Computer Services and reports of clients courting its rivals, the company’s sales team is learnt to have worked quietly to close about 15 deals. Around 80% of the deals are with new clients, a company source said. …

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Indiabulls Securities: Reliance Infrastructure Ltd. (RELI) recently reported that it has cash and cash equivalents of more than Rs98 billion, which comes as a pleasant surprise amid the ongoing liquidity crunch in the economy. This should help in the timely completion of the various EPC a…

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Educomp Solutions has won orders from the State Governments of Uttar Pradesh (UP) and Assam for a total of 2,042 schools and the total size of these orders stands at Rs120 crore. With these wins, Educomp has achieved its target of 12,000 schools in its ICT Business (government schools). …

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Davos, Switzerland: Wipro Ltd expects demand for new software and systems to stagnate for up to two years as a result of the global economic slowdown, a top executive said on Saturday. In response, Wipro plans to focus on providing operations services and helping clients cut costs, Wipro …

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MUMBAI: Troubles keep mounting for Satyam Computer Services. Four of its large clients, Citigroup, Merrill Lynch, Novartis and GlaxoSmithKline are in talks to move their business from the Hyderabad-based company to other Indian IT firms. These clients contribute over $200 million to Satya…

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