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Archive for July, 2010

Insurers violating cashless mediclaim terms face fine

The Chairman of the insurance regulator Insurance Regulatory and Development Authority (IRDA), Mr J. Hari Narayan, said on Friday that action will be taken against insurance companies violating the terms of cashless health insurance policy for
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Satyam accounts restatement is Rs 50-cr windfall for audit firms

Mahindra Satyam may end up paying a huge fee for restatement of its book of accounts that were allegedly fudged by its former Chairman Mr B. Ramalinga
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PSU banks’ mutual fund investments jump 44%

State-owned banks are clearly getting more bullish on mutual funds going by their recent investment trend in such
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BPCL posts Rs 1,718-cr net loss on under-recoveries

Bharat Petroleum Corporation has reported a net loss of Rs 1,718.10 crore for the quarter ended June 30 compared to a profit of Rs 614.12 crore in the same period last year.
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Tata Chem net zooms to Rs 216 cr on higher sales

Tata Chemicals reported that its net profit has grown five times to Rs 216 crore in the quarter ended June 30, against Rs 43 crore logged in the same period last year. Sales were up six per cent at Rs 2,477 crore (Rs 2,345 crore) in the quarter
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Mining: GoM for profit-sharing with land losers

The Group of Ministers on the new mining legislation has suggested setting up an effective mechanism to ensure that profits are shared by companies with land losers. Besides, it also favoured giving more powers to the regulatory authority to
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Magnificent Mary enters the sponsorship ring

After pugilist Vijender Singh’s multi-crore endorsement deals, it’s the turn of women’s boxing sensation M.C. Mary Kom to step into the marketing arena, albeit on a modest scale.
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Inflation will come down to 6% by December, says Montek

The current inflation situation is not comfortable, but will get down to around 6 per cent by December, the Deputy Chairman, Planning Commission, Mr Montek Singh Ahluwalia, said at an interactive session organised by the Bangalore Chamber of
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