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Re
ends lower; gilts weak
Mumbai: THE rupee closed a tad weaker on Monday
at 48.20/21 against the dollar as compared to its previous
close of 48.1875/1975 in the forex market. The dollar
has been gaining strength against all international currencies
since Friday.
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U.S.
stocks up on housing, chip shares
New Delhi: Surprisingly strong housing data and
optimism about the outlook for corporate profits boosted
stocks on Monday, extending a rally that has sent the
blue-chip Dow average up for seven straight weeks.
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Bill
assures UTI-I tax benefits for five years
Mumbai: UTI-I, which is set to administer all the
assured return schemes, including US-64, launched in the
past by the UTI, will continue to enjoy tax exemptions
for a period of five years.
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Bulls
tighten grip further
Mumbai: Bulls exerted further pressure over Monday's
trading activity. Bears were unable to make any impact
during the day's trading. The sentiment reading of the
tradable counters stands strongly bullish.
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High
volumes worry L&T
Mumbai: Larsen & Toubro has said it is "concerned
with the volume of transactions in the company's equity
shares taking place during the last few days...''
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Hotel
stocks surge on vacation demand
Mumbai: The hotel stocks have been moving up in
the last three sessions on reports of rising occupancy
rates and good advance bookings for the Christmas and
New Year. The Indian Hotels stock, leader in the pack,
has improved from the closing level of around Rs 148 on
November 21 to Rs 174 yesterday.
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Acquisition
talks lift JCT
Mumbai: Nylun yarn manufacturer JCT Ltd stock price
has gained over 75 per cent in the last five trading sessions
on talks that the company is planning to acquire the nylon
yarn plant of Baroda Rayon in Surat.
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Bakery
news adds flavour to HLL
Mumbai: Even as most FMCG business segments of
Hindustan Lever Ltd (HLL) are facing sluggishness in the
last few quarters, it is learnt that the company is likely
to enter the bakery business soon.
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`Victor'
puts TVS into higher gear
Kochi: Buoyed by the surge in motorcycle demand,
the stock price of TVS Motor Company has been moving steadily
northwards. Market analysts are of the view that good
fundamentals and contributions from higher end models
such as Victor and Fiero are expected to benefit the company
with better price realisations in future.
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SEBI
empowered to call for probe records
New Delhi: The Government has proposed to empower
the Securities and Exchange Board of India (SEBI) to call
for information and records of any transaction in securities
which are under investigation, from any bank or authority,
or board or corporation, constituted by the Centre or
the State.
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Maruti
may file public issue draft prospectus next month
New Delhi: With the capital market showing signs
of improvement, it may be possible for Maruti to go ahead
and file its draft prospectus with the Securities and
Exchange Board of India (SEBI) within a month's time.
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