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IDBI Bank to merge with IDBI — Trust to take over Rs 9,000-cr NPAs
IN separate meetings held on Thursday, the boards of IDBI and IDBI Bank in principle approved the proposal to merge IDBI Bank with IDBI, thereby enabling the combined entity - the Industrial Development Bank of India - to become a universal ...
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FIIs buy into IDBI; LIC bullish in IDBI Bank
IN the six months ended June 2004, LIC has turned out to be quite bullish on the IDBI Bank counter. The corporation, which held about 69 lakh shares or a stake of about 3.3 per cent at the end of December 2003, almost doubled it to about 6.4 ...
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Merger to create fast-growing, mid-size bank
THE merger of IDBI with its subsidiary, IDBI Bank, would create a bank with a deposits and borrowing base of about Rs 60,000 crore. The combined entity would still be smaller than banks such as Punjab National Bank, Canara Bank, Bank of Baroda ...
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We will take a re-look at free trade pact with Thailand: PM
INDIA will take a hard re-look at the free trade agreement with Thailand which the Vajpayee Government initiated last year. The Prime Minister, Dr Manmohan Singh, announced the changed position of the Indian Government on board the special ...
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TCS IPO opens with bids for 91 pc shares
THE initial public offer of Tata Consultancy Services opened on Thursday with bids for over 91 per cent of the shares on offer. Bids were received for 5.05 crore shares out of the 5.54 crore on offer. However, maximum number of bids has been ...
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Price cuts, ad spend shave HLL profit by 46 pc in Q2
INDIA'S largest FMCG company, Hindustan Lever Ltd (HLL), ended the June 2004 quarter with a 46 per cent decline in its net profit at Rs 244.49 crore as compared to Rs 450.93 crore in the year-ago period. The company reported a 4.7 per cent ...
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Data Access to offload 30-35% equity — Scraps IPO plans on objections from SEBI
INTERNATIONAL long distance telephony company Data Access is close to selling 30-35 per cent equity to a large global investment fund for about Rs 100-150 crore. The move comes in the wake of company's decision to scrap its plans to go for an ...
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Public debate likely on taxation of BPO units
THE Finance Ministry may seek the views of various stakeholders including industry before coming to a final decision on the taxation of BPO units in the country. Indications are that the Revenue Department may soon put up a draft version of a ...
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Uptrend in wheat prices: What's driving them?
MENTION drought and be rest assured that you would have speculators working overtime. This, even when very little may have changed as far as the underlying supply-demand position of a particular commodity is concerned. Take the case of wheat. ...
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Banking, oil stocks in the limelight
STOCK markets were swamped with news developments during the day with announcements such as the merger of IDBI with its subsidiary, launch of the initial public offer of TCS, decline in profits reported by Hindustan Lever Ltd (HLL), jostled for ...
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