Gold, Silver prices rise on the first day of Samvat 2066

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Gold and silver prices rose on the first day of Samvat Year 2066, the Hindu New Year in the traditional lunar Hindu calendar, with gold gaining Rs 50 to touch Rs 16,070 per ten grams on the bullion market in Delhi on Saturday. Token purchases by traders on the first day of the Hindu New Year aided the gains.

Standard gold and ornaments traded Rs 50 higher at Rs 16,070 and Rs 15,920 per ten gram respectively, while sovereign held unchanged at Rs 12,950 per piece of eight gram.

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Ultratech Cement Results – Review

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Ultratech Cement Ltd (UTCL) Q2FY10 net profit at Rs2.51 bn (up 53% yoy) is below our expectation (Rs2.75 bn), primarily on account of higher than freight & fuel cost. Revenues for the quarter increased by 8.7% yoy to Rs15.41 bn on the back of volumes (+by 3.9%) increase to 4.16 mt and realizations (+4.7% yoy) to Rs3704/ton. Though on sequential basis, domestic cement realization per tonne seems to have increased by Rs 70 per tonne, the net plant realization (excluding freight) seems to have declined by Rs 45/tonne, in lne with expectations. EBITDA for the quarter at Rs 4.7bn grew by 48.1% on y-o-y was below our expectation (Rs 4.9 bn), mainly on account of higher than expected power and coal cost as well as higher freight cost due to increased lead distance.

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Auto Rickshaws Cause 40% Pollution in Bangalore

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The Karantaka Pollution Board [Government Body] took the opportunity given by Striking Arrogant and Reckless Auto Drivers of Bangalore who went off the road on Oct-12th to study the pollution levels across city. Pollution level came down by as much as 40% in some pockets of  the Bangalore City. The following chart gives complete idea on the reduction level of various hazardous chemicals on October-12th.

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Mediaone Global expands its chain of theatres

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Mediaone Global Entertainment has added one more theatre to its existing Mediaone’s chain of theatres, which will launched on the Diwali day. The company recently acquired Meenakshi theatre, which is located at Manali in Chennai. This theatre will exhibit the brand new blockbuster Tamil film ‘Peraanmai’ at launch. In April this year, the company had … Read more Mediaone Global expands its chain of theatres

India post-Office now Cross Selling Mobile REcharge Vouchers

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Sistema Shyam TeleServices Ltd., the company that owns the MTS India Mobile brand, has tied-up with India Post to make available recharge vouchers across all post offices in Chennai. Initially, these vouchers will be available at 50 post offices, and the scheme will later be expanded to cover all post offices in the city.

India Post has a very vast and widespread network of post-offices that are located at prominent places. Several of them are landmarks in themselves.

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Welspun-Gujarat’s order book touches a record Rs 10,000 crore

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Welspun-Gujarat Stahl Rohren (Welspun), the flagship company of the $2,000 million Welspun Group and the second largest line pipe company in the world, announced that its order book has touched Rs 10,000 crore, including orders executed during in second quarter of FY 2009-10.

This order book of Rs 10,000 crore from international and domestic market has reinforced company’s premium position in the oil & gas segment.

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