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IndusInd Bank gains 1.5% on Motilal Oswal buy report

Written By Unknown on Senin, 31 Desember 2012 | 14.02

Private sector lender IndusInd Bank gained as much as 1.5 percent to touch an intraday high of rs 421 on Monday as Motilal Oswal has recommended a buy rating on the stock with a target price of Rs 500 .

According to the research report, strong capitalisation, healthy business growth, margin expansion and healthy asset quality outlook are the key positives for the stock.

Motilal Oswal has upgraded the bank's earnings per share for FY14 by 8 percent to factor in higher margins.

"IndusInd continues to enjoy strong growth (35 percent+ CAGR over last three years) and superior asset quality (gross non-performing asset of 0.8 percent) in CV loans (24 percent of total book), despite sector slowdown. The underlying success factors are: (1) strong credit appraisal, (2) high repeat business, and (3) focus on the lower-stress SRTO segment (small road transport operators). In corporate loans segment, IIB's asset quality is helped by (1) diversified loan book, and (2) low proportion of term/unsecured loans. Management is confident of maintaining healthy loan growth of 25-30% and superior asset quality (which would keep credit cost under control)," the report says.
 
At 11:59 hours IST, the stock rose 0.81 percent to Rs 418.25 on the Bombay Stock Exchange.



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Foursquare will display full names, share more data with businesses

Mon, Dec 31, 2012 at 12:23

A cautious Foursquare is making changes to its Privacy Policy and has begun notifying its users that more of their information and data will be made public

Source: Tech2.com

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Foursquare will display full names, share more data with businesses

A cautious Foursquare is making changes to its Privacy Policy and has begun notifying its users that more of their information and data will be made public

Like this story, share it with millions of investors on M3

Foursquare will display full names, share more data with businesses

A cautious Foursquare is making changes to its Privacy Policy and has begun notifying its users that more of their information and data will be made public

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A cautious Foursquare is making changes to its Privacy Policy and has begun notifying its users that more of their information and data will be made public starting next month. Foursquare detalied the changes it proposes to make to the app and the Privacy Policy on its blog.

Click here for full story

Smart Tools Review

The Smart Tools set of measurement apps for Android includes tools for...


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Gati looks positive: Astromoneyguru

As per Col Ajay Jain, CEO of Astromoneyguru.com, 31st day of December 2012 is represented by planet known as Rahu and year 2012 is represented by Mercury. Today Rahu is with Saturn and Sun and mercury both are in close conjunction in Jupiter's sign Dhanu Rashi. This is unique combination for push banking, metal, steel and oil and gas sector's stocks in Indian stock market.

Today being last trading day for calendar year 2012. Therefore highest volatility is expected in Indian stock market. Under volatility only selected sector and stocks specific trading is strongly advised Short term traders may keep eyes on given levels for targets and stop loss for short term term trading. Levels are the soul for intraday trading .It is advised to go for selected sectors and stocks rather than looking at Nifty levels. Timely profit booking is mandatory in short term trading.

Following stocks should be kept under observations for short term trading in stock market
Daily recommendations
Buy Sterlite Industries (CMP Rs 116.90) with stop loss Rs 114, targets 118-120
Buy Gati (CMP Rs 35.50) with stop loss Rs 35, targets Rs 37-38.10



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MARKET EYE WEEKAHEAD - Focus on current account for Indian stocks

Written By Unknown on Minggu, 30 Desember 2012 | 14.02

Reuters Market Eye - India's current account data for July-September due on Monday is emerging as the biggest domestic factor amid concerns it will show a record high deficit, leading to a negative balance of payments.

Traders are also eyeing any official announcement on a hike in diesel prices, after local media reported plans to gradually raise fuel prices.

Developments over the U.S. "fiscal cliff" also loom large, with failure to clinch a deal seen hurting global equities.

Among individual stocks, investors also continue to wait for a decision from Gulf carrier Etihad Airways, which has been in talks to buy a partial stake of either Jet Airways or Kingfisher Airlines .

Monday: July-Sept current account deficit, BOP

November infrastructure data, fiscal deficit Wednesday: December manufacturing PMI Friday: December services PMI

(Reporting by Manoj Dharra)



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Arab officials visit cash-strapped Palestinian territory

RAMALLAH, West Bank (Reuters) - Top Arab officials paid a rare visit to the Israeli-occupied West Bank on Saturday to discuss a Palestinian financial crisis that President Mahmoud Abbas hopes will be eased by Arab donations.

Arab League Chief Nabil Elaraby and Egyptian Foreign Minister Mohamed Kamel Amr congratulated the Palestinians on a successful United Nations status upgrade last month, but stopped short of promising the badly-needed funds.

"Palestine is in need of material and political support," Elaraby told a news conference in the Palestinians' de facto capital of Ramallah.

"Arab countries agreed at their Baghdad summit (in March) for an Arab safety net of $100 million dollars each month, but unfortunately none of this has been achieved yet," he said.

Palestinian were cheered by a strong majority in the United Nations recognising them as an "observer state" on November 29 but have struggled to get Arab support to make up $100 million in shortfalls left by Israeli sanctions following the U.N. move.

Elaraby is the first Arab League Chief to visit Ramallah, but he and other prominent Arab and Islamic leaders, including the Egyptian prime minister, met Abbas's Palestinian Hamas rivals in Gaza during their brief war with Israel last month.

QATARI LEADER

Hamas, which split from the West Bank after it seized control of the Gaza Strip in 2007, also won a diplomatic coup by receiving Emir Hamad bin Khalifa al-Thani, ruler of the oil-rich Gulf state of Qatar, who pledged $400 million in aid for the impoverished territory in October.

The emir postponed a visit to Ramallah he had announced this month, disappointing West Bank officials who had hoped he would arrive bearing gifts of cash.

The Gaza visits broke years of diplomatic quarantine for the Islamist Hamas group, which refuses to recognise Israel or relinquish its arms, and increased the isolation of the dovish, Western-backed Ramallah government.

West Bank officials have watched with worry as uprisings in the Arab world divert attention from their diplomatic strategy, which has failed to achieve an independent Palestinian state.

Hamas militants, by contrast, have been heartened as fellow-Islamists rise to power in Egypt and elsewhere.

Abbas has accused Israel of "piracy" after it withheld customs revenues it collects on the Palestinians' behalf, citing months of utilities bills Ramallah owes Israeli companies.

The financial crisis has forced the Palestinian Authority to delay salary payments to West Bank employees, who have gone on strike in protest. Abbas has responded by saying he might give up power and compel Israel to take on the Palestinians' affairs.

"Sit in the chair here instead of me, take the keys, and you will be responsible for the Palestinian Authority," Abbas warned Israeli Prime Minister Benjamin Netanyahu, in an interview with the Israeli Haaretz newspaper this week.

"I won't do anything as long as there are diplomatic negotiations," he said. "But if the stalemate continues...what's left for us to do?"

(Reporting By Noah Browning and Ali Sawafta; Editing by Alistair Lyon)



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Major fire in oil tank at Ropar thermal plant

Sat, Dec 29, 2012 at 23:36

Major fire in oil tank at Ropar thermal plant

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Major fire in oil tank at Ropar thermal plant

Major fire in oil tank at Ropar thermal plant

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Major fire in oil tank at Ropar thermal plant

Major fire in oil tank at Ropar thermal plant

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Rupnagar (Punjab), Dec 29 (PTI) A major fire tonight broke out at the oil tank at Ropar thermal plant but all its units are running normally. A heavy fuel oil tank no 2 caught fire at 8pm reportedly after a blast, official sources said. HFO tank is away from the plant's main building and there is no danger to plant and machinery of units. Fire tenders have rushed to site and efforts are being made to control the fire. All the senior plant officials have reached the site, the sources said. PTI COR AKA PAL


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Experts debate on growth movement in 2013

Written By Unknown on Sabtu, 29 Desember 2012 | 14.02

The year 2012 may have been the year with the slowest growth in a decade, with GDP likely to have clocked an average of 5.3 percent. A CNBC-TV18 poll indicates that 50 percent of the economists expect growth to have troughed in the second quarter, while 50 percent expect it to trough in the third quarter.

Around 50 percent of those polled see current year growth at 5.2 percent to 5.4 percent while 50 percent see it between 5.5 percent and 5.8 percent. As for next year, 80 percent of those polled see growth a good one percentage point higher between 6.2 percent and 6.5 percent; while 20 percent see it at 6 percent and below.

If growth will snake up what will inflation do that's the happiest part of the forecasts. Around 70 percent of those polled expect inflation to be at 7 percent or lower by March end. Around 30 percent see it above 7 percent in March.

As for FY14, 40 percent see inflation averaging between 6 percent and 6.5 percent; 50 percent see it averaging between 6.5-7 percent, only 10 percent see it above 7 percent in FY14. With inflation down to 6.5 percent, all those polled expect a slew of rate cuts. Around 40 percent expect repo rate to by cut by 75 bps in 2013; 40 percent see a 100 bps cut next year.

A minor, 20 percent see only a 50 bps cut on the external front all of them see the rupee stable between 53-54 by March 2013; in the remaining three quarters, 60 percent continue to see the currency stable between 52-55 to the dollar while 40 percent see a depreciation towards 57.

As for the current account deficit 50 percent believe it will be at 4 percent of GDP or higher in FY13; while 50 percent say it will be lower than 4 percent; every one sees the cad lower in 2014 by at least 40 bps as for the fiscal deficit, 20 percent see the deficit at 5.5 percent this year i.e FY13; 40 percent see it at 5.6 percent of GDP and 40 percent see it between 5.6 percent and 5.8 percent of GDP, importantly no one expects it to at the finance minister's forecast of 5.3 percent.

For the next year everyone see the deficit lower by at least half percentage point. 40 percent see it at 5 percent or lower; 40 percent see it between 5.1 percent and 5.3 percent and 20 percent see it between 5.4 percent and 5.5 percent.

The poll indicated that inflation rate and GDP rate will probably be at 6.5 percent or thereabouts in 2013. Also the two deficits, fiscal deficit and current account deficit will be about 0.5 percentage lower in FY14 than it was in FY13. To discus the implications of these developments, Saumitra Chaudhuri, member, Planning Commission, SS Mundra, executive director, Union Bank and A  Prasanna, chief economist ICICI Securities discuss their view on the topic.

Below is the edited transcript of the interview.

Q: For the past three years inflation has been a good one to two percentage points higher than the GDP growth rate. We understand from the poll is that in 2013 calendar both may converge at about 6.5 percent. What will be the macro economic implications of this development? Would that be a positive development?

Chaudhuri: Easing off of inflation is a positive development. Inflation has been extremely recalcitrant and difficult to handle especially since it has come from primary commodities in the first part of the inflationary period. We have now covered three years.

It is extremely destabilising and has been a disincentive for any economic activity whether it is consumption or investment. Inflation has also led to significant amount of monetary tightening. A relief from inflation would be a true relief. I agree that inflation seems to be coming off, if it stays around 6-6.5 percent next year then it would be positive for the economy as a whole.

Q: The fact that inflation might be below or at the same rate as GDP growth. Does it per se have any significance and separately are you also confident that inflation will be able to mellow down in FY14?

Prasanna: I am not sure numerically if inflation is below, above or at the same level as growth rate as it has any implication. In terms of investment allocation, high inflation does affect investment choices between financial assets and fiscal assets. So, from this perspective inflation moving down is good news for investment allocation.

On inflation per se, I also expect it to come down but I still see some upside risks because of administered prices in India, Budget pressures and other issues one can see some prices going up during the year. So, these are some upside risks to a sanguine view on inflation.

Watch for more….



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Would-be adoptive parents look beyond Russia

Russia's new ban on US adoptions is the latest setback for hopeful American parents as countries increasingly impose restrictions.

Other countries, including China and Guatemala, have erected hurdles for adoptive families as they create their own domestic adoption programs. The signing of the Hague Convention on adoption in 2008 drastically improved regulation of the process, which had been rife with corruption. But it has also led to a slowdown in adoptions or shutdowns in some countries. Internal politics and abuse concerns are additional reasons why countries have tightened controls.

In 2004, US citizens adopted 22,991 children who had been born abroad, an all-time high, according to Adoptive Families magazine. By 2011, that number had fallen to 9,319.

There are still other options for Americans wanting to adopt an international child. Bulgaria, Columbia and many African nations are some of the new, go-to countries for US adoptions.

But even that's not a sure thing. For would-be adoptive parents the best bet is to widen their search to include special needs kids, sibling groups and older children.

Africa's adoption explosion

Africa, which represented 22 percent of adoptions in 2009, is expected to be a bigger player in the future. "A decade ago, there were very few adoptions (in Africa)," according to Susan Soonkeum Cox, vice president policy and external affairs at Holt International, a Christian adoption organization. "Now, there's an explosion."

African countries seeing an increase in adoptions include South Africa, the Democratic Republic of the Congo, Ghana, Kenya and Ivory Coast.
Adoptions in Ethiopia, meanwhile, have declined from a peak of 2,511 in 2010 as the country overhauled its oversight process. But it is still a viable option, Cox said.

Cox advises working with an adoption agency that has staff on the ground in Africa and other countries to handle paperwork and advocate for US families.

Other countries that still welcome American adoptions include Bulgaria and Colombia, said Megan Montgomery, international adoption coordinator for Adoption Star, based in Amherst, New York. Adoption Star primarily deals with adoptions from Bulgaria, a country that has gone from five placements in 2008 to 75 adoptions in 2011.

Placements from Vietnam and Cambodia, which shuttered their US adoption programs, should resume soon, adoption experts say.

Families can't flip a switch

Adoptions of Russian children peaked in 2004, according to Dale Eldridge, coordinator of adoptive services at Jewish Family Services' Adoption Choices, a non-profit adoption program based in Framingham, Massachusetts. Right now, fewer than 50 US adoptions of Russian children are formally in the works while another 250 US families have identified kids they would like to adopt, adoption experts said.

Unfortunately, families that already have started an adoption in Russia can't just flip a switch and redirect their efforts to another country. "I wish it was as simple as taking some families who have been waiting (for Russian children) to just move over to another country," said David Nish, chief program officer at Spence-Chapin, a US-based adoption agency that finds homes for children in the United States and around the world. "But it's a whole other process."

That's because every country has its own eligibility requirements. Criteria can include parents' marital status, age of the parents, employment, financial status, medical issues, and even the age difference between the adoptive parents and adoptee child. The adoption process remains restrictive for single-sex couples.

And the cost can be prohibitive. For example, the median fee in 2011 was USD 8,000 for the Dominican Republic, USD 15,355 in Panama and USD 26,063 in South Africa, according to the US State Department's Intercountry Adoption Annual Report. Adoption fees for many of the 30-plus countries on the State Department's list are in the range of USD20,000. That's not including travel costs.

Even so, international adoptions are often cheaper than domestic ones for newborn babies, which can cost USD 40,000 or more.

Older Children

To speed up the process, would-be adoptive parents should consider a school-age child, experts say.

According to the State Department, 233,934 international adoptions were made by Americans from 1999 to 2011. Nearly 94,000 of those adoptions involved children under the age of one. Just about 20,000 children aged three or four were adopted during that period. And for kids aged 5 to 12, it was 29,712.

The benefit of adopting a school-age child is that it is easier to identify developmental and emotional problems ahead of time. "There's more you can do to prepare and put resources in place to support what they need," Spence-Chapin's Nish said.

School-aged children can be challenging if pre-adoptive experiences affect their development, he said.

A special needs child is also a possibility. One way to fast-track an international adoption may be to apply for a child with known medical or special needs, said Adoption Star's Montgomery. "For families with resources, it can be great option," Montgomery said. "Of course, you really have to find the right family to take on that kind of known medical need."
Special needs can range from a baby born with a minor medical problem, such as a cleft palate, to more serious issues, such as a heart condition, blindness or spina bifida. "It's not about families getting a child quicker," Nish said. "It's about a family accepting a child into their household that they can provide for and love and nurture."

China's Waiting Child program, which includes children who have special needs or correctable medical conditions or are part of sibling groups, has wait times that are typically much shorter than the traditional program, according to Adoptive Families magazine. In 2011, more than half of adoptions from China were through this program.

Would-be parents must be prepared to wait. The Associated Services for International Adoption, a non-profit adoption group, says the wait time for an adoption referral in China is 73 months as the country has clamped down on US adoptions. "If the wait time is becoming impractical, it's better to close the intake process" and start again, advised Holt's Cox.

Tracy Downey and her husband, Jason, who live in suburban Des Moines, Iowa, tried to go the traditional international Chinese adoption route in 2006. But after waiting for 18 months to bring home a baby from China, Tracy switched gears and started combing the official Chinese list of children with special needs along with additional lists from adoption agencies and orphanages.

The Downeys have since adopted a daughter, Angel, along with two sons - Corban and Tegan - from China, all with large, potentially disfiguring moles known as a giant congenital nevi. They started the process to bring home the two boys, now aged 3-1/2, last January. It took about 10 months.
Aside from their large moles - which are on two of the children's faces and on the other's lower body - all three kids are healthy and thriving, Tracy said.

"If we wanted a non-special needs child, we'd still be waiting," Tracy said.


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Test defeats, retirements make it a tough year for India

A string of heavy Test defeats, some of the biggest superstars walking into the sunset of their glorious careers and 'Captain Cool' Mahendra Singh Dhoni turning into 'Captain Circumspect' are how things panned out for Indian cricket in 2012.

Amid the number of disappointing results outweighing the success stories which were few and far between, Sachin Tendulkar and Yuvraj Singh hogged the limelight albeit for different reasons.

In March this year, Tendulkar completed a historic feat of 100 international centuries, when he reached the three-figure mark in an ODI against Bangladesh but within nine months, announced his retirement from the 50-over format, leaving a lot of questions unanswered.

In February this year, Yuvraj Singh was diagnosed with a rare germ-cell cancer and had to undergo chemotherapy sessions in the US before stunning one and all to make a comeback in international cricket within six months.

For Tendulkar, who has been worshipped for the past 23 years for for his delightful strokes, the 'timing' of his ODI retirement became a subject of debate as to what prompted the legend to take such a decision, especially with a high-profile series against Pakistan round the corner.

Tendulkar's scratchy form against New Zealand and England has again prompted the Doubting Thomases to wag their tongues and getting bowled time and again to incoming deliveries hasn't helped his cause one bit.

While Tendulkar would still be seen in white flannels, Rahul Dravid and VVS Laxman decided to call time on their international careers to signal the beginning of the rebuilding process in Indian cricket.

Ironically enough, the two, who wrote one of the finest chapters in Indian cricket with their great recovery act against the mighty Australians at the Eden Gardens in 2001, played their last Test together in Adelaide earlier this year.



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Nucent Finance EGM on Jan 19, 2013

Written By Unknown on Jumat, 28 Desember 2012 | 14.02

Fri, Dec 28, 2012 at 12:23

Nucent Finance Extra-ordinary General Meeting of shareholders will be held on January 19, 2013 to consider the amalgamation of Pressman Advertising Limited - a well established Advertising and PR Agency with the Company in terms of the order of the Hon�ble High Court at Calcutta.

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Nucent Finance EGM on Jan 19, 2013

Nucent Finance Extra-ordinary General Meeting of shareholders will be held on January 19, 2013 to consider the amalgamation of Pressman Advertising Limited - a well established Advertising and PR Agency with the Company in terms of the order of the Hon�ble High Court at Calcutta.

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Nucent Finance EGM on Jan 19, 2013

Nucent Finance Extra-ordinary General Meeting of shareholders will be held on January 19, 2013 to consider the amalgamation of Pressman Advertising Limited - a well established Advertising and PR Agency with the Company in terms of the order of the Hon�ble High Court at Calcutta.

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Nucent Finance Ltd has informed BSE that an Extra-ordinary General Meeting of shareholders will be held on January 19, 2013 to consider the amalgamation of Pressman Advertising Limited - a well established Advertising and PR Agency with the Company in terms of the order of the Hon'ble High Court at Calcutta.Source : BSE

Read all announcements in Nucent Finance

From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

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Optiemus Infra director resigns

Fri, Dec 28, 2012 at 12:24

Optiemus Infracom director Mr. Manoj Kumar Jain has resigned from the directorship of the Company w.e.f. December 28, 2012.

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Watson to miss third test against Sri Lanka in Sydney

By Ian Ransom

MELBOURNE (Reuters) - Australia vice captain Shane Watson will miss the third test in Sydney after sustaining a calf strain during his team's series-winning rout of Sri Lanka in the second test in Melbourne.

Watson pulled up sore after bowling on day one at the Melbourne Cricket Ground and although he went on to score 83 with the bat, the all-rounder was spared from bowling duties during Sri Lanka's brief second innings on Friday.

Australia wrapped up an innings and 201-run victory against the injury-ravaged Sri Lankans to take an unassailable 2-0 lead in the three-match series.

Glenn Maxwell comes into a 13-man squad named by Australia captain Michael Clarke following the match at the Melbourne Cricket Ground, with the skipper himself still under a cloud with a hamstring strain.

"Shane's out of the Sydney test match and Glenn Maxwell comes in the squad as a replacement for Watto as the all-rounder," Clarke told reporters.

"The other player is Usman Khawaja on standby for me again. Obviously, I have a bit more extra time now winning this game in three days to give myself every chance of being right for Sydney and I'm really confident I'll be fit for Sydney, but Usman's on standby just in case."

Clarke sustained his injury in Australia's victory in the first test in Hobart, but was cleared to play on the morning of the Boxing Day test and scored a sparkling 106 to cap his brilliant year.

Clarke said seamer Mitchell Johnson, who was named man-of-the-match after taking six wickets and making an unbeaten 92 with the bat, would also be considered as an all-rounder for the dead rubber test, depending on the Sydney wicket.

"I think the other all-rounder sits besides me right here as he showed with the bat in this game," Clarke said, gesturing at 31-year-old left-armer Johnson sitting next to him at the media conference.

"So we've got options if we think the wicket's going to spin we have the option of Maxwell, if you think there will be enough in there to play four fast bowlers and a spinner, you have Johnson."

Clarke also said seamer Mitchell Starc, who was controversially dropped for the Melbourne test despite being fit and taking a five-wicket haul to help Australia win in Hobart, would be a certain starter for the New Year's test.

Team: Michael Clarke (captain), David Warner, Ed Cowan, Phil Hughes, Glenn Maxwell, Mike Hussey, Matthew Wade, Peter Siddle, Mitchell Starc, Mitchell Johnson, Nathan Lyon, Jackson Bird, Usman Khawaja (Editing by John O'Brien)



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Corporation Bank to issue Tier - I bonds worth Rs 200cr

Written By Unknown on Kamis, 27 Desember 2012 | 14.02

Thu, Dec 27, 2012 at 12:27

Corporation Bank has proposed to issued unsecured innovative perpetual non-convertible Tier - I bonds in the nature of promissory notes for Rs 200 crore, on private placement basis.

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Corporation Bank to issue Tier - I bonds worth Rs 200cr

Corporation Bank has proposed to issued unsecured innovative perpetual non-convertible Tier - I bonds in the nature of promissory notes for Rs 200 crore, on private placement basis.

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Corporation Bank to issue Tier - I bonds worth Rs 200cr

Corporation Bank has proposed to issued unsecured innovative perpetual non-convertible Tier - I bonds in the nature of promissory notes for Rs 200 crore, on private placement basis.

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Corporation Bank has informed BSE that the Bank now proposes to issued Unsecured Innovative Perpetual Non-Convertible Tier - I Bonds in the nature of Promissory Notes for Rs. 200 Crore, on Private Placement Basis.Source : BSE

Read all announcements in Corporation Ban

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From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

The latest earning numbers FIRST on CNBC-TV18


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R Systems approves revised recommendations in open offer

Thu, Dec 27, 2012 at 12:27

R Systems International's committee of independent directors for open offer at its meeting held on December 26, 2012, discussed, analysed and approved updation in the reasoned recommendations on the open offer given by Mr. Bhavook Tripathi for acquisition of 26% equity shares of the company.

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R Systems approves revised recommendations in open offer

R Systems International's committee of independent directors for open offer at its meeting held on December 26, 2012, discussed, analysed and approved updation in the reasoned recommendations on the open offer given by Mr. Bhavook Tripathi for acquisition of 26% equity shares of the company.

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R Systems approves revised recommendations in open offer

R Systems International's committee of independent directors for open offer at its meeting held on December 26, 2012, discussed, analysed and approved updation in the reasoned recommendations on the open offer given by Mr. Bhavook Tripathi for acquisition of 26% equity shares of the company.

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R Systems International Ltd has informed BSE that the Committee of Independent Directors for Open Offer at its meeting held on December 26, 2012, discussed, analysed and approved updation in the reasoned recommendations on the Open Offer given by Mr. Bhavook Tripathi for acquisition of 26% Equity Shares of R Systems International Limited pursuant to Public Announcement dated December 15, 2011, Detailed Public Statement dated December 22, 2011, Draft Letter of Offer and also Supplemental Public Announcement dated March 13, 2012 and August 04, 2012 in accordance with the provisions of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The recommendations of the Committee of Independent Directors on Open Offer shall be published in the newspapers and a copy thereof shall be furnished to the Securities & Exchange Board of India, the Stock Exchanges and the Manager to the Open Offer in due course, in accordance with Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.Source : BSE

Read all announcements in R Systems Intl

From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

The latest earning numbers FIRST on CNBC-TV18


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Aurobindo Pharma receives final approvals for Nafcillin Injections

Thu, Dec 27, 2012 at 12:27

Aurobindo Pharma has received final approvals from the US Food & Drug Administration (USFDA) to manufacture and market Nafcillin for Injection USP, packaged in 1g and 2g vials (ANDA 091613) and Nafcillin for Injection USP 10g/Vial Pharmacy Bulk Package (ANDA 091614). The products are ready for launch.

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Aurobindo Pharma receives final approvals for Nafcillin Injections

Aurobindo Pharma has received final approvals from the US Food & Drug Administration (USFDA) to manufacture and market Nafcillin for Injection USP, packaged in 1g and 2g vials (ANDA 091613) and Nafcillin for Injection USP 10g/Vial Pharmacy Bulk Package (ANDA 091614). The products are ready for launch.

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Aurobindo Pharma receives final approvals for Nafcillin Injections

Aurobindo Pharma has received final approvals from the US Food & Drug Administration (USFDA) to manufacture and market Nafcillin for Injection USP, packaged in 1g and 2g vials (ANDA 091613) and Nafcillin for Injection USP 10g/Vial Pharmacy Bulk Package (ANDA 091614). The products are ready for launch.

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From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

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CSS Technergy approves to issue 10.23 lakh equity shares/ share warrants

Written By Unknown on Rabu, 26 Desember 2012 | 14.02

Wed, Dec 26, 2012 at 12:23

CSS Technergy at its EGM held on December 22, 2012 has approved to issue and allot 1023460 equity shares/ share warrants at a price of Rs 21.50 per warrant to be compulsorily converted into equivalent equity shares.

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CSS Technergy approves to issue 10.23 lakh equity shares/ share warrants

CSS Technergy at its EGM held on December 22, 2012 has approved to issue and allot 1023460 equity shares/ share warrants at a price of Rs 21.50 per warrant to be compulsorily converted into equivalent equity shares.

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CSS Technergy approves to issue 10.23 lakh equity shares/ share warrants

CSS Technergy at its EGM held on December 22, 2012 has approved to issue and allot 1023460 equity shares/ share warrants at a price of Rs 21.50 per warrant to be compulsorily converted into equivalent equity shares.

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CSS Technergy at its EGM held on December 22, 2012 has approved to issue and allot 1023460 equity shares/ share warrants at a price of Rs 21.50 per warrant to be compulsorily converted into equivalent equity shares.Source : BSE

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Lifeline Drugs EGM on Jan 18, 2013

Wed, Dec 26, 2012 at 12:25

The EOGM of the Members of Lifeline Drugs will be held on January 18, 2013 to issue and allot up to 8,88,000 equity shares of Rs 10 each on preferential basis to Non-Promoters group subject to approval of appropriate authorities.

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Lifeline Drugs EGM on Jan 18, 2013

The EOGM of the Members of Lifeline Drugs will be held on January 18, 2013 to issue and allot up to 8,88,000 equity shares of Rs 10 each on preferential basis to Non-Promoters group subject to approval of appropriate authorities.

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Lifeline Drugs EGM on Jan 18, 2013

The EOGM of the Members of Lifeline Drugs will be held on January 18, 2013 to issue and allot up to 8,88,000 equity shares of Rs 10 each on preferential basis to Non-Promoters group subject to approval of appropriate authorities.

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India rejects MM's proposal for defence JV with Rafael

India has rejected a proposal by autos-to-software conglomerate Mahindra & Mahindra to set up a joint venture with Israel's Rafael Advanced Defense Systems Ltd, a government statement said on Wednesday.

According to media reports, the companies were to invest about 1 billion rupees to develop and manufacture naval systems.

The Foreign Investment Promotion Board of the Finance Ministry also approved 12 proposals of foreign direct investment amounting to about 8.02 billion rupees.



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Normalcy returns to Manipur valley

Written By Unknown on Selasa, 25 Desember 2012 | 14.02

Imphal, Dec 25 (PTI) Normalcy returned to Manipur valley today following suspension of ongoing 'indefinite general strike' till December 26 midnight, called against the alleged molestation of a film actress by a Naga militant and lifting of indefinite curfew in view of the Christmas festival. Markets opened and transporters resumed their services as people in large number turned out to purchase essentials at various markets across the four valley districts of Imphal East, Imphal West, Bishenpur and Thoubal. The curfew was lifted at 6 AM this morning and general strike suspended from midnight of December 24 to midnight December 26 in view of the Christmas festival, official sources said. Large scale violence was reported yesterday in view of the confusion among some of the strike enforcers with a section maintaining the shutdown was on despite the President of the Film Forum Manipur (FFM) and some other artists associations announcing the relaxation of the strike in view of the Christmas, the sources said. FFM sources threatened to resume the general strike from midnight of December 26 till the arrest of the Naga militant of NSCN-IM, who had allegedly molested film actress Momoko during a musical concert on December 18 at Chandel and fired at two artists who tried to save her. (MORE) PTI TP SUS SG


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BANDH-NORMALCY 2 LAST

Tue, Dec 25, 2012 at 12:06

BANDH-NORMALCY 2 LAST

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BANDH-NORMALCY 2 LAST

BANDH-NORMALCY 2 LAST

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BANDH-NORMALCY 2 LAST

BANDH-NORMALCY 2 LAST

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The curfew had been imposed in four valley districts since The curfew had been imposed in four valley districts since 11 AM yesterday following widespread violence as people protested the killing of a photojournalist Thangjam Dwijamani alias Nanao Singh in police firing when he was covering the general strike on Sunday. The sources said an understanding has been reached between the government and joint action committee (JAC) formed by local residents of the locality of the photojournalist under which the government would order a proper enquiry to find out the culprits and punish them, compensate the victims and take steps to stop recurrence such incidents in future. The photojournalist, an active member of the All Manipur Working Journalists Union was earlier working for Guwahati-based 'Prime News' Channel, besides contributing pictures and stories to Doordarshan from time to time. Meanwhile, hill-based United Naga Council (UNC) said in a statement that it has called a 72-hour bandh in 'Naga areas' of the state from the December 26 midnight. They alleged some tribals were attacked by supporters of the general strike during relaxation of the strike yesterday. The statement did not cite any specific incident. PTI TP SUS SG

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Two killed as passenger plane lands in Myanmar rice field

YANGON (Reuters) - Two people were killed and 10 wounded in northeast Myanmar on Tuesday when a passenger plane missed an airport runway in heavy fog and landed in a rice paddy, state television said.

The pilot of the Air Bagan plane touched down beyond Heho airport in Shan state, killing an 11-year-old passenger and a motorcyclist on the ground, MRTV said.

Four foreigners and the pilot were among the injured. The plane was carrying 63 passengers, 51 of whom were foreigners. MRTV said.

Air Bagan is one of five airlines operating domestic routes in Myanmar.

Owned by Tay Za, a local tycoon blacklisted by the United States for his alleged links to former military regime, Air Bagan was the country's first privately run carrier when it was established in 2004.

(Reporting by Aung Hla Tun; Editing by Martin Petty)



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Raj Rayon Industries board meets rescheduled on Jan 03

Written By Unknown on Senin, 24 Desember 2012 | 14.02

Mon, Dec 24, 2012 at 12:27

With reference to the earlier announcement dated December 21, 2012 for meeting of the Board of Directors being scheduled on December 29, 2012, Raj Rayon Industries Ltd has now informed BSE that the said meeting is reschedule to be held on January 03, 2013, to sub divide/split the face value of equity shares from Rs 10 to Re 1 per share.

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Raj Rayon Industries board meets rescheduled on Jan 03

With reference to the earlier announcement dated December 21, 2012 for meeting of the Board of Directors being scheduled on December 29, 2012, Raj Rayon Industries Ltd has now informed BSE that the said meeting is reschedule to be held on January 03, 2013, to sub divide/split the face value of equity shares from Rs 10 to Re 1 per share.

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Raj Rayon Industries board meets rescheduled on Jan 03

With reference to the earlier announcement dated December 21, 2012 for meeting of the Board of Directors being scheduled on December 29, 2012, Raj Rayon Industries Ltd has now informed BSE that the said meeting is reschedule to be held on January 03, 2013, to sub divide/split the face value of equity shares from Rs 10 to Re 1 per share.

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With reference to the earlier announcement dated December 21, 2012 for meeting of the Board of Directors being scheduled on December 29, 2012, Raj Rayon Industries Ltd has now informed BSE that the said meeting is reschedule to be held on January 03, 2013, to transact the following business:1. To sub divide/split the face value of Equity Shares of the Company from Rs. 10/- to Rs. 1/- per share.2. To reclassify authorised share capital of the Company.3. To consider raising of funds through issue of Redeemable Preference Shares to selected entities on preferential basis.Source : BSE

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KIC Metaliks board meeting on Dec 31, 2012

Mon, Dec 24, 2012 at 12:27

KIC Metaliks board meeting will be held on December 31, 2012 to consider and finalise, allotment of Redeemable Preference Shares to various Non-Promoter Investors.

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KIC Metaliks board meeting on Dec 31, 2012

KIC Metaliks board meeting will be held on December 31, 2012 to consider and finalise, allotment of Redeemable Preference Shares to various Non-Promoter Investors.

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KIC Metaliks board meeting on Dec 31, 2012

KIC Metaliks board meeting will be held on December 31, 2012 to consider and finalise, allotment of Redeemable Preference Shares to various Non-Promoter Investors.

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KIC Metaliks Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on December 31, 2012, inter alia, to consider and finalise, allotment of Redeemable Preference Shares to various Non-Promoter Investors.Source : BSE

Read all announcements in KIC Metaliks

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Radford Global board approves stock split

Radford Global Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 22, 2012, inter alia, has approved the following business subject to the approval of the Shareholders of the Company:1. Split/ Sub-division of Equity shares of the Company of the face value of Rs. 10/- (Rupees Ten Only) to face value of Rs. 2/- (Rupees Two Only) each.2. Alter capital clause of Memorandum and Articles of Association to give effect in the face value of Equity Shares of the Company.3. Increase in tenure of Mr. Suresh Kumar Saini as the Executive Director of the Company.4. Calling of the Extra Ordinary General Meeting of the shareholders of the Company on January 17, 2013 to approve the matters stated above.Source : BSE

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Pascal seeks police intervention to enable him meet children

Written By Unknown on Minggu, 23 Desember 2012 | 14.02

Bangalore, Dec 22 (PTI): French consulate official Pascal Mazurier,recently granted bail in connection with alleged rape of his minor daughter, today requested police to take steps to enable him meet his children for Christmas. Police said Pascal and his 70-year-old mother met the Additional Commissioner of Police (law and order) T Sunil Kumar with this request, saying they wanted to give the children gifts and alleged his wife was preventing them from seeing the kids. The ACP assured them he would do his best to try and see they are able to meet the children. Pascal had filed a petition in High Court, seeking quashing of the case, contending it was solely dependent on circumstantial evidence,though the hospital's medical report, which allegedly indicated sexual abuse, had not linked him. Mazurier, Consular Attache to Consulate General of France here, was arrested on June 19 on a complaint by his wife, a native of Kerala, alleging he had raped their three-and-a-half year old daughter. He was chargesheeted on September 17. On October 17, the Karnataka High Court had granted conditional bail to Pascal, arrested for allegedly raping his minor daughter, observing that the circumstantial evidence did not "specify" he had committed the offence. PTI BH APR MAV


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RPF rescues Rajasthan woman from traffickers

Jalgaon, Dec 22 (PTI) The Railway Protection Force (RPF) today arrested a man and his wife, who hailed from Rajasthan, for allegedly trying to force a woman, also from the same state, into flesh trade. Pappu Karnawat and his wife Leela, both residents of Bundi, allegedly tricked the woman (25) who hailed from Shamgarh (Rajasthan) into accompanying them for a tour around Maharashtra, an RPF officer posted at Bhusawal railway station said. However, the accused duo dumped the woman at Vaitagwadi, a notorious red light area on the city outskirts, he said. According to RPF sources, the woman managed to escape from the area and rushed to the railway station today morning and narrated her plight to RPF staff following which they laid a trap and nabbed Lata when she arrived on one of the platforms in search of the victim. They later apprehended her husband Pappu from the area. The RPF has handed over the accused to Bhusawal police who are investigating the case. PTI CORR NSK HU SNK


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Spurned lover attacks girl, stabs himself to death

Mumbai, Dec 22 (PTI) A 22-year-old spurned lover stabbed himself to death after badly injuring his college mate in suburban Bandra today. The 19-year-old victim and the accused Nikhil (22) were studying management at a college here and recently had a break-up. According to police, Nikhil accosted the girl and her three friends while they were on their way to the classroom this morning. During a heated argument between the two, Nikhil whipped out a knife from his bag and slashed her several times. Nikhil then stabbed himself around 4-5 times and also slashed his neck. "Both were rushed to Guru Nanak hospital where Nikhil died during admission. The girl is critical but out of danger," said Deputy Police Commissioner N Chavan. PTI VM ABC HU SRE


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MLA, Councillor booked in MP for abducting Mandi member

Written By Unknown on Sabtu, 22 Desember 2012 | 14.02

Sat, Dec 22, 2012 at 12:06

MLA, Councillor booked in MP for abducting Mandi member

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MLA, Councillor booked in MP for abducting Mandi member

MLA, Councillor booked in MP for abducting Mandi member

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MLA, Councillor booked in MP for abducting Mandi member

MLA, Councillor booked in MP for abducting Mandi member

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Katni (MP), Dec 22 (PTI) Congress MLA from Vijay Raghogarh Sanjay Pathak and a former councillor were booked here for allegedly kidnapping a newly elected Mandi member, police said today. According to complainant, Ayodhya Prasad, his son Rajju Nishad, elected as a Mandi member was abducted yesterday by Pathak and Councillor Jai Narayan Nishad, who came to his house. Pathak is also Madhya Pradesh Congress General Secretary. Raju was elected as Hammal member in Krishi Upaj Mandi election and had got his certificate around three in the afternoon, Prasad said in his complaint. Police have registered a case under 452 and 365 of IPC in the Kuthla police station of the district and further investigations are on. No arrests have been made so far in this connection so far, police added. PTI COR AS DK DK

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Yesteryear heroines turn emotional,nostalgic on cinema century

Sat, Dec 22, 2012 at 12:06

Yesteryear heroines turn emotional,nostalgic on cinema century

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Yesteryear heroines turn emotional,nostalgic on cinema century

Yesteryear heroines turn emotional,nostalgic on cinema century

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Yesteryear heroines turn emotional,nostalgic on cinema century

Yesteryear heroines turn emotional,nostalgic on cinema century

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Bangalore, Dec 22 (PTI) Yesteryear super heroines – Vaijayanthimala Bali, Sahukar Janaki and B Saroja Devi – were overwhelmed and turned emotional and nostalgic as they shared their journey thoughts on being a part of 100 years of Indian cinema. "It was very nice working and serving the film industry in my own small way", Vaijayanthimala said at a ceremony to mark the milestone, hosted by Karnataka Chalanachitra Academy coinciding with the ongoing Bengaluru International Film Festival here. "And the appreciation, admiration and the warmth shown by the people all over India....that is something I cannot explain in words. It's given me so much joy in my heart", she added, saying, she was fortunate that she could work in wonderful films and with well-known directors, co-stars, and technicians. Janaki did not lose an opportunity to put on record her difference with former Prime Minister Jawaharlal Nehru who, she quoted as having said: "We seem to be paying too much attention to cinema. It's undoubtedly an excellent medium for many good things but unfortunately it has not proved to be particularly inspiring". She remarked: "I wonder if the opinion, this statement was relevant in those days". Janaki, who made her debut in 1949 and shared screen space with the likes of veterans Rajkumar, MGR and N T Ramarao, said cinema has become an integral part of people's lives. "Cinema is like air, water and food for man", she commented. She bemoaned that "today we see a lot of ugly films" but acknowledged that commercial movies are essential for the survival of the film industry. Janaki wants to see more of films with meaningful and purposeful themes which convey a message to the betterment of mankind. MORE PTI RS RC BS

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Janaki said she was proud and elated that she occupied a

"sizeable part" – 64 years – of Indian cinema's century. "I enjoyed every bit of this make-believe world, a world of fantasy", she said. "I had a wish that before I end my career, I should be seen at least in one frame or two with my most favourite heroine Vyajayanthimala. It never happened". But Janaki said he acted with Saroja Devi in a number of films and all of them were "super duper hits". For Saroja Devi, the occasion was one of happinenss and pain. "Many of those I worked with are no more. When I remember them, my mind fills with pain", she said. Acclaimed cinematographer, V K Murthy, who is winner of Dadasaheb Phalke award, and P K Nair, former Director of National Film Archives of India, were among those honoured at the ceremony. Murthy said: "100 years is not a short time. It shows how much popularity Indian cinema has gained. It has become an integral part of people's lives", while Nair made a passionate appeal to make concerted and collective efforts to preserve films. PTI RS RC BS


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ICICI Mutual Fund declares dividend under various schemes

Written By Unknown on Jumat, 21 Desember 2012 | 14.02

ICICI Mutual Fund declares dividend under various schemes
ICICI Prudential Mutual Fund has declared dividend under following schemes, the record date for which has been fixed on December 24, 2012. The quantum of dividend will be on the face value of Rs 10 per unit.

ICICI Prudential Long Term Plan:

Regular Quarterly Dividend option: Rs 0.0252 per unit

Premium Quarterly Dividend option: Rs 0.0253 per unit

Quarterly Dividend option: Rs 0.0372 per unit

ICICI Prudential Ultra Short Term Plan:

Regular Quarterly Dividend option: Rs 0.0251 per unit

Premium Quarterly Dividend option: Rs 0.0250 per unit

Quarterly Dividend option: Rs 0.0496 per unit

ICICI Prudential Dynamic Bond Fund (QD): Rs 0.1749 per unit

ICICI Prudential Regular Savings Fund (QD): Rs 0.2034 per unit



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IMA to hold two-day conclave on leadership in January

Indore, Dec 21 (PTI) The Indore Management Association (IMA) will be hosting a two-day management conclave titled "Transforming Leadership: Getting Future Ready" from January 19, which will witness several icons from the management and corporate world participating in the event. As a forward-looking management association, IMA was well aware of the urgent need to be Future-Ready in ideation, planning, execution, adaptation and diversification of management processes, IMA President Shamit Dave told reporters IMA National Business Icon Award 2013 will be presented to noted industrialist Kumar Mangalam Birla, Dave said. Infosys founder Narayan Murthy will be delivering a special lecture. Other speakers include Suhel Seth, actor cum businessman, and prominent economist Alok Kejriwal, he said. Conclave Co-Chairman Vijay Goyal said, this was IMA's annual flagship management event for Central India which attracts large pan-India participation from more than 1,000 entrepreneurs, CEOs, Thinkers, Corporate Captains, academicians and more than 3,000 management students, necessitating the organisation of the event in an indoor sports stadium. About conclave theme, Goyal said the future-readiness can be ushered in by transformational leaders, who will have to be visionary, inspiring, daring, risk-takers and high performers. They will have to innovate and create business opportunities with out-of-the box thinking. City-based Prestige Institute of Management & Research, IPS Academy, Shri Vaishnav Institute of Management & Technology, Medi Caps Institute, GSIMR, Gujrati College, Sanghavi Institute and many more such institutes are participating in the conclave. PTI GG DK
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Fifth accused in gang-rape case arrested

New Delhi, Dec 21 (PTI) The fifth accused in the brutal gang-rape of a young paramedical student here was arrested from Uttar Pradesh, police said today. "The fifth accused has been arrested in the rape case. His age is being verified before giving details. If minor, we have to hold back his particulars as per law," Delhi Police Commissioner Neeraj Kumar said on Twitter. With this, four persons have been arrested in the Sunday night incident which sparked widespread outrage across the country. Sources said the fifth accused was arrested from Badaun in Uttar Pradesh even as there were reports that the sixth accused has been picked from Bareilly. However, police is yet to confirm it. Yesterday, one of the four accused in the case was "identified" by the victim's friend during a Test Identification Parade (TIP) at Tihar Jail here. The 23-year-old victim's male friend, an engineer in a software company, identified Mukesh during TIP, a senior police official said. Out of the four accused, only Mukesh had agreed to TIP when he was produced before a court here yesterday. Other accused -- Ram Singh, Pawan and Vinay -- had refused to undergo TIP. According to the official, the positive identification of Mukesh by the friend, who was also beaten up by the gang before the men allegedly raped the girl, is a shot in the arm of the prosecution as it would help them nail the other culprits. Police have invoked the stringent charges of attempt to murder and destruction of evidence against the accused. Investigators had earlier pressed charges against them under sections 365 (kidnapping or abducting), 376 (2)(g) (gang rape), 377 (unnatural offences), 394 (hurting in committing robbery) and 34 (common intention) of IPC. PTI SJY DV
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Don't expect any generous tax exemptions in Budget 2013

Written By Unknown on Kamis, 20 Desember 2012 | 14.02

Moneycontrol Bureau

Finance minister P Chidambaram on Thursday said there was a need to avoid large-scale tax exemptions, as the government is now on the path of fiscal consolidation. But in the same breath, he said there was need to give some subsidy for food, fuel and fertiliser.

Also read: Govt lowers growth forecast, says on track for deficit

Chidambaram said the extent of subsidy would be determined by the state of the economy. The finance ministry had a couple of months ago revised fiscal deficit target 2012-13 to 5.3%.

Dismissing skepticism that the government was likely to overshoot this target, Chidambaram said the figure was 'doable.' The government is looking to narrow the fiscal deficit to a combination of spending cuts and increasing revenues.

Must read: Bitter medicine needed to get back to high growth path, says FM



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Persistent Systems up 3.5% on fund based buying

Persistent Systems gained as much as 3.5 percent intraday on Thursday as HDFC Balanced Fund bought 3 lakh shares and Saif India IV FII Holdings purchased 11.2 lakh shares of the company at Rs 490 each via bulk deals yesterday.

However, Norwest Venture Partners FVCI Mauritius sold 18.45 lakh shares via two bulk deals at same price yesterday.

At 12:04 hours IST, the stock gained 1.67 percent to Rs 501 on the National Stock Exchange. It rallied more than 22 percent in last three months and 66 percent in a year.

Also Read
Editor's Pick : How listed Gujarat firms fared under Narendra Modi's rule
Houseviews: Trading tips on 4 stocks



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Karvy expects marginal pull back in USDINR

Karvy Stock Broking has come out with its report on USIDNR. According to the research firm, if USDINR manages to sustain above 50% retracement level of 54.50, then one could see a marginal pull back coming in the pair.

On Wednesday, Indian rupee weighed up by 0.54 percent to close at 54.5575 against US Dollar following Asian indices and euro which edged above 1.33 in the late night trading session.  Asian stock market closed with higher note of more than two percent along with Indian stock market weighed up as optimism in the market with the intention of government would take more measures to boost the economic growth. SENSEX rose 111.25 points to close at 19476.00 and NIFTY advanced 32.80 points to 5929.60.  German IFO numbers have improved except the current assessment. The euro zone current account surplus has also improved from 0.8B to 7.2B which was supported European stock market to moved up whereas euro close on weaker note of 1.3227.  The US housing start data declined from 894K to 861K and going on concern over fiscal cliff made US stock market to climbed down while Dollar index surged 0.11% to 79.355.

Outlook: 

This morning Asian stock market as well as the shared currency Euro is trading on a weaker note of 1.3220, down by 0.05%. This weakness may extend to Indian rupee which is likely to open down. However, economic releases across the globe may put some impact on Indian rupee. From Europe, euro-zone will release consumer Confidence and Germany will release producer price which are likely to be slightly positive and support the shared currency to move up and extending gains rupee. While lots of data expectation from US which are expected to have mix impact on US Dollar is likely to cap gains. Overall we expect the opening of Indian rupee could be a weak note while as the day progress it could remain mixed.

USDINR Spot-

As expected, USDINR remained on weaker note on Wednesday after opening with a gap down at 54.90 and finally settled at 54.52 losing 0.58%. Pair has declined till the supports of 50% Fibonacci retracement level for move ranging from (54.01-55.05). Momentum indicator RSI-14 has declined from the high of 0.54 to 0.48 levels and is indication further weakness in the pair in coming days. For today, we expect USDINR to open marginally higher and if it manages to sustain above 50% retracement level of 54.50, we could see a marginal pull back coming in the pair.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


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Soybean has intraday resistance around Rs 3462: Fortune Fin

Written By Unknown on Rabu, 19 Desember 2012 | 14.02

Fortune Financial Services has come out with its report on Soybean, Soy Oil, CPO and Mustard. According to the research firm, Ncdex Soybean future contract is expected to remain positive on chart, traders are advised to create long position. Intraday resistance is seen near Rs 3382-3412-3462. Intraday support is seen near Rs 3333-3303-3253.

Soybean and soyoil futures contracts ignored positive local cues today and ended down over 2% on the National Commodity and Derivatives Exchange due to profit sales tracking the bearish global market.  In the domestic market, soybean arrivals fell by 25,000 bags (1 bag=100 kg) for the second day to 300,000 bags as farmers are hoarding the produce awaiting a further rally once arrivals shrink in the next four to six weeks.  spot prices of soybean remained steady, supported by lower arrivals even as prices fell in the futures market. Soybean was auctioned at 3,275-3,325 rupees per 100 kg in Indore, while plant-delivery soybean traded at 3,375-3,400 rupees.

On the Chicago Board of Trade, benchmark (January soybean) contract could not sustain above the crucial resistance of $15-a-bushel level on Monday. This has triggered profit sales on the US bourse and impacted domestic futures prices.  Demand for soybean and soyoil in the spot market is good due to the ongoing wedding season. Weak rupee and rising soymeal exports have also cushioned soybean against any fall in prices in the spot markets.  Soyoil spot prices in Indore were unchanged at 722-733 rupees per 10kg.

Crude palm oil futures on MCX ended down tracking the trend in benchmark Malaysian contract as weak exports and likely cut in export tax by competitor Indonesia dragged prices lower in a volatile session.  On Monday, Malaysia lowered export tax to 0% for January as the country wants to cut its record high stocks by raising exports. The benchmark March crude palm oil on Bursa Malaysia ended at 2,342 ringgits (2,043.92 rupees) per tn, down 9 ringgits from Monday's settlement price, according to exchange data.

Mustard futures contracts ended mixed on divergence in near-term and long term fundamentals.  December and January contracts ended up on short covering tracking the firm spot market as falling stocks of the oilseed supported recovery in prices as harvest of new crop is still two to three months away.  April and May mustard futures ended down on expectation of at least 10-12% rise in output as rabi acreage so far has touched 6.36 mln ha compared with 6.16 mln ha a year ago. Favourable weather is likely to increase yield of the crop. 

Ncdex Soy Oil future contract is expected to remain positive on chart, traders are advised to create long position. Intraday resistance is seen near 708.37 , 712.73 & 720.22 . Intraday support is seen near 700.88 696.52 & 689.03.  

Ncdex Soy bean future contract is expected to remain positive on chart, traders are advised to create long position. Intraday resistance is seen near 3382 , 3412 and 3462 . Intraday support is seen near 3333-3303-3253.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


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S Inderchand re-appointed as Director of Indsil Hydro Power

Wed, Dec 19, 2012 at 12:15

S Inderchand re-appointed as Director of Indsil Hydro Power and Manganese.

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S Inderchand re-appointed as Director of Indsil Hydro Power

S Inderchand re-appointed as Director of Indsil Hydro Power and Manganese.

Like this story, share it with millions of investors on M3

S Inderchand re-appointed as Director of Indsil Hydro Power

S Inderchand re-appointed as Director of Indsil Hydro Power and Manganese.

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Indsil Hydro Power and Manganese Ltd has submitted to BSE a copy of the 22nd Annual General Meeting of the Company held on December 17, 2012.Source : BSE

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Sri Lanka look to Herath's spin to save Australia series

By Nick Mulvenney

HOBART (Reuters) - Sri Lanka will be hoping for help from wickets more suitable for spin bowling in the second two tests against Australia after losing the opener by 137 runs on a Hobart track described as a "minefield" by coach Graham Ford.

Spin has always been a key weapon in Sri Lanka's bowling armoury since they achieved test status in 1981, not least when wrist-spinner Muttiah Muralitharan was taking his 800 test wickets from 1992 to 2010.

Since Muralitharan's retirement, Rangana Herath has emerged as the team's main spin threat and the 34-year-old left arm orthodox bowler has had a stellar year.

Even in defeat in Hobart, Herath took a five-wicket haul, which gave him 60 wickets for the year and ensured he would win his personal battle with England's Graeme Swann for the title of the most prolific wicket-taker of 2012.

"In Melbourne and Sydney, from what I've heard, it looks like it's some help for the spinners so that's a good start," he said after taking 5-95 in Australia's second innings.

"Taking five wickets from here, that's a good achievement. This is my first game playing in a test match in Australia so I'm really happy with the way I bowled."

Coach Ford also thought conditions in the last two tests would suit the tourists better.

"History suggests that the MCG and Sydney would help us a little bit more," he said on Tuesday.

"Although this is a new surface here, spinners haven't done so well whereas at the other venues, spinners have had match-winning performances.

"We'd like to think we are better equipped at those two grounds."

Ford was forced to concede that his pace bowling unit lacked the fire-power to "blow batsmen away" after the Australians had plundered runs off them before declaring at 450-5 in their first innings.

The South African was encouraged, however, by the improved performance by all his bowlers in the second Australian innings, where the hosts were bowled out for 278.

He was also confident that the big names in his batting line-up - Mahela Jayawardene, Tillakaratne Dilshan and Kumar Sangakkara - were starting to find their feet.

"It's always hard at the beginning of a tour and these days without a lot of time to prepare, you're straight in," he said.

"It can go one way or the other, things can go downhill or they can improve and I think over the five days all our players started to compete and started to improve."

HUSSEY THREAT

One man they will have to shut down if they are to fight their way back into the series is middle order batsman Mike Hussey, who in the first innings scored his third century in his last four matches and a fifth in six tests against Sri Lanka.

The 37-year-old now boasts 908 career runs at an impressive average of 129.71 against the Sri Lankans.

"He is an outstanding player," Ford said. "Over the years I guess he's been able to neutralise our main strength - spin bowling - and we haven't been able to get into him with seam bowling, so that's possibly the reason why he's done well, but he is a good player and has a good record, full stop."

Despite the defeat, which came in the final hour of the fifth day on Tuesday after six wickets fell in the last session, Ford was encouraged by the character the Sri Lankans showed to hold off the Australians for so long.

"During the five days there were areas we need to improve on, but if you just look at today, I'm unbelievably proud of the effort the boys put in," he said.

"That surface really became a minefield, it was very difficult, the Australians got the ball to reverse swing considerably. If I look at every delivery, it took a really special effort to get the batsmen out.

"As a coach, you can't really ask for more from your troops than that. Disappointed but at the same time proud of the effort."

(Editing by Ian Ransom)



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Jaiprakash Power shares fall; promoters sell

Written By Unknown on Selasa, 18 Desember 2012 | 14.02

Shares of Jaiprakash Power Ventures fell as much as 10.22 percent on Tuesday after the company's promoters sold 49.7 million shares, or about 2 percent of its equity, at an average price of Rs 39 a share.

The block deal was at a 6.14 percent discount to Monday's closing price Rs 41.55, according to Thomson Reuters data.

The company raised about Rs 1.94 billion (Rs 194 crore) in a series of block deals on the Bombay Stock Exchange, the data showed.

Bank of America Merrill Lynch was the sole manager to the transaction, according to two sources with direct knowledge of the deal.

Jaiprakash Power and Bank of America Merrill officials were not immediately available to comment.



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Highlights of RBI policy review

MUMBAI (Reuters) - The RBI left its key interest rates unchanged as expected on Tuesday but said policy focus was shifting towards growth, reiterating its October guidance of further easing in the first quarter of 2013 as inflation was seen cooling.

"In view of inflation pressures ebbing, monetary policy has to increasingly shift focus and respond to the threats to growth from this point onwards," the Reserve Bank of India wrote in its mid-quarter monetary policy review.

The RBI kept its policy repo rate at 8 percent and also held the cash reserve ratio, or the amount of deposits that banks must keep with the central bank, at 4.25 percent.

Following are highlights from the monetary policy statement:

POLICY MEASURES

* Keeps repo rate unchanged at 8 percent.

* Reverse repo stays at 7 percent.

* Cash reserve ratio stays at 4.25 percent.

(Read main story, click http://in.reuters.com/article/2012/12/18/india-rbi-rates-inflation-idINDEE8BG0F820121218)

POLICY STANCE

* Monetary policy has to increasingly shift focus and respond to threats to growth from this point onwards.

* Recent inflation pattern reinforces October guidance for policy easing in Jan-March.

* Liquidity conditions will be managed to support growth.

* Even as policy emphasis shifts towards growth, it will remain sensitive to inflation risks.

INFLATION STANCE

* Emerging patterns reinforce the likelihood of steady moderation in inflation going into 2013/14.

* Inflation may edge higher over next two months.

* Though consumer price inflation remains stubborn, the pace of moderation in wholesale price inflation has been faster than anticipated.

* Excess capacity in some sectors is working towards moderating core inflation.

* Headline inflation has been below RBI projections for past two months.

* Decline in core inflation has been comforting.

* Elevated food and commodity prices remain contingent risks, especially for emerging and developing economies facing domestic supply constraints.

GROWTH, ECONOMY

* GDP growth is evolving along the baseline projection of 5.8 percent for 2012/13.

* There are some incipient signs of pick-up though growth remains significantly below its recent trend.

* Recent government policy initiatives, further reforms should help improve investment climate.

* Biggest risk to the global outlook stems from political economy considerations that could impede, delay or erode resolute policy action.

* Some indications of a modest firming up of activity in Q3 (October-December).

* Rabi (winter) sowing coverage is expanding steadily, improving the prospects of agricultural growth.

(Compiled by Neha Dasgupta; Editing by Ranjit Gangadharan)



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Tube Investments acquires 22.87% stake in Financiere C10 SAS

Tue, Dec 18, 2012 at 12:18

Tube Investments of India Ltd has informed BSE that the Company has, on December 17, 2012, acquired 51,208 shares of its overseas subsidiary viz., Financiere C10 SAS, France (

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Tube Investments acquires 22.87% stake in Financiere C10 SAS

Tube Investments of India Ltd has informed BSE that the Company has, on December 17, 2012, acquired 51,208 shares of its overseas subsidiary viz., Financiere C10 SAS, France (

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Tube Investments acquires 22.87% stake in Financiere C10 SAS

Tube Investments of India Ltd has informed BSE that the Company has, on December 17, 2012, acquired 51,208 shares of its overseas subsidiary viz., Financiere C10 SAS, France (

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Tube Investments of India Ltd has informed BSE that the Company has, on December 17, 2012, acquired 51,208 shares of its overseas subsidiary viz., Financiere C10 SAS, France ("FC10") from the existing shareholders, representing 22.87% of FC10's share capital. FC10 is the holding company of Sedis SAS & Societe de Commercialisation de Composants Industriels, both in France and Sedis Company Ltd, UK.With acquisition on December 17, 2012, of the balance shares, FC10 has become a Wholly-Owned Subsidiary of the Company.Source : BSE

Read all announcements in Tube Investment

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Future Ventures subsidiary allots 50000 CCDs

Written By Unknown on Senin, 17 Desember 2012 | 14.02

Mon, Dec 17, 2012 at 12:27

Future Ventures India's subsidiary - Indus Tree Crafts Private Limited has issued and allotted 50,000 Compulsory Convertible Debentures (CCDs) of Rs 100 each to GBI Master Fund I, L.P. on Nov 19, 2012.

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Future Ventures subsidiary allots 50000 CCDs

Future Ventures India's subsidiary - Indus Tree Crafts Private Limited has issued and allotted 50,000 Compulsory Convertible Debentures (CCDs) of Rs 100 each to GBI Master Fund I, L.P. on Nov 19, 2012.

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Future Ventures subsidiary allots 50000 CCDs

Future Ventures India's subsidiary - Indus Tree Crafts Private Limited has issued and allotted 50,000 Compulsory Convertible Debentures (CCDs) of Rs 100 each to GBI Master Fund I, L.P. on Nov 19, 2012.

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Future Ventures India Ltd has informed BSE that the Company's subsidiary - Indus Tree Crafts Private Limited ("Indus Tree"), has issued and allotted 50,000 Compulsory Convertible Debentures ("CCDs") of Rs. 100 each to GBI Master Fund I, L.P. on November 19, 2012.GBI Master Fund I, L.P. is a limited partnership organized under the laws of the State of Delaware, United States of America.Source : BSE

Read all announcements in Future Ventures

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International Combustion enters into MOU with Allgaier Werke GmbH

International Combustion India Ltd has informed BSE that the Company has entered into a Memorandum of Understanding (MOU) with Allgaier Werke GmbH (Allgaier), Germany, for formation of a Joint Venture Company, which shall be engaged in the marketing, commissioning and servicing of Motor Type Dryer and its accessories, to be manufactured by the Company under License from Allgaier Process Technology GmbH, Germany.Source : BSE

Read all announcements in Int Combustion


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State Bank of Bikaner appoints Rajeev Mehra as director

State Bank of Bikaner and Jaipur has informed BSE about the change of directorate has taken place as under:-1. State Bank of India has nominated Shri. Rajeev N. Mehra, CGM (A&S) State Bank of India as Director on the Board in terms of Section 25(1)(c) of the SBl (SB) Act, 1959 w.e.f. December 01, 2012 in place of Shri. A. K. Deb.2. Central Government has nominated Shri Mihir Kumar, Director Department of Financial Services, Ministry of Finance as Government Nominee Director on the Board w.e.f. December 12, 2012 and until further orders vice Shri Amrik Singh.3. Shri Shyamal Acharya, SBI Nominee Director tendered his resignation consequent to his transfer from A&S Group, Corporate Center, SBI, Mumbai.Source : BSE

Read all announcements in State B Bikaner


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Ekka and Rai released from jail

Written By Unknown on Minggu, 16 Desember 2012 | 14.02

Ranchi, Dec 15 (PTI) Former Jharkhand ministers Enos Ekka and Harinarain Rai were today released from the Birsa Munda Central jail here, two days after getting provisional bail from the Supreme Court. "Both of them were released during the day," a senior official of the jail told PTI here. The two, arrested in 2009 for allegedly possessing assets disproportionate to their known sources of income, were ministers when Madhu Koda was the Chief Minister in the UPA government between 2006 and 2008. Rai and Ekka were arrested on August 17, 2009, after a social activist filed a PIL before the Jharkhand High Court accusing them of amassing wealth more than their known source of income during their ministerial tenures. Another ex-minister Kamlesh Singh got bail earlier. Koda and another of his former cabinet colleague Bhanu Pratap Sahi are still in judicial custody. PTI PVR NIK AVT

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Govt asks SC collegium to reconsider names of 3 judges for

Sat, Dec 15, 2012 at 23:36

Govt asks SC collegium to reconsider names of 3 judges for

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Govt asks SC collegium to reconsider names of 3 judges for

Govt asks SC collegium to reconsider names of 3 judges for

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Govt asks SC collegium to reconsider names of 3 judges for

Govt asks SC collegium to reconsider names of 3 judges for

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elevation New Delhi, Dec 15 (PTI) Government is learnt to have requested the Supreme Court collegium to reconsider the names of three senior judges it had recommended for elevation to the apex court. Sources said government had written to the collegium headed by the Chief Justice of India Altamas Kabir to once again consider its recommendation to elevate Chief Justices of three High Courts as judges of the Supreme Court. Under the present system, the if collegium sents back the names to the government again, then it is bound to consider them for elevation. PTI NAB SKU VMN

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Check misuse of social networking sites, Gehlot to police

Jaipur, Dec 15 (PTI) Rajasthan Chief Minister Ashok Gehlot today said that to check misuse of social networking websites, police should effectively use the concerned laws. Gehlot was speaking after reviewing a parade here during the 150th anniversary celebrations of Indian Police Service. He said he was in favour of freedom of speech on social media, but it should not be misused. "The police should use laws to tighten the noose around unsocial elements to stop them from uploading communal and seditious content on social sites," Gehlot said. On this occasion, he also announced to open a police training centre in Bharatpur district. The Police Act of 1861 is acknowledged to have marked the start of formal policing in India. PTI Corr SHS/AGL AGL

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