Indian shares are likely to open negative

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Indian markets are likely to open negative, taking cues from global markets. Asian stocks extended losses on Tuesday, as US stocks slumped to a 12-year low, with investors growing increasingly nervous about the health of the global financial system. The rupee is expected to fall on Tuesday as steep falls in global stock markets raise … Read more Indian shares are likely to open negative

Tata Communications / VSNL earnings above expectations – Will it Sustain ?

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On a consolidated basis, Tata Communications (TCOM) reported 3QFY09 revenues, EBITDA and net income of Rs26.1 bn (up 5% qoq), Rs3.8 bn (up 41% qoq) and Rs650 mn (up 83% qoq. EBITDA margin rose 360 bps qoq to 14.4% due to rising proportion of non-voice revenues. Excluding net income, reported financial are not comparable with … Read more Tata Communications / VSNL earnings above expectations – Will it Sustain ?

BHEL bags order worth Rs 3150 crore

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Bharat Heavy Electricals (BHEL) has bagged an order worth Rs 3150 crore from Madhya Pradesh Power Generating Company (MPPGCL). The order is for the main plant package at the upcoming Malwa Thermal Power Project (TPP) in Madhya Pradesh, involving two new-rating units of 600 megawatt each. The project is expected to significantly enhance the existing … Read more BHEL bags order worth Rs 3150 crore

Govt incurs Rs 2,500 cr telecom license fee loss

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The Department of Telecommunication (DoT) has probably incurred a loss of Rs 2,500 crore on account of violation of the terms and conditions of the telecom licenses held by private mobile operators. The main cause of concern was that DoT has slapped a milder penalty on erring private firms that offered services like push-to-talk and … Read more Govt incurs Rs 2,500 cr telecom license fee loss

FII net sellers of Rs 201 cr in cash market on Friday

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Foreign institutional investors (FIIs) were net sellers of Rs 201.17 crore (provisional) in the cash market on Friday, as per the information posted on the BSE website. While FIIs made gross purchases of Rs 956.27 crore, their gross sales amounted to Rs 1,157.44 crore. Domestic institutional investors (DIIs) were net buyers of Rs 167.18 crore … Read more FII net sellers of Rs 201 cr in cash market on Friday