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Friday, April 04, 2008

MARKET UPDATES

Russian economic growth was 6.2 per cent in year-on-year terms in March, unchanged from the previous month, VTB bank's GDP indicator showed on Friday.

Asian markets declined in the initial session of trade on Friday (Apr. 04, 2008) first time in three days. The fall was led by technology companies and automakers, after a US jobs report showed that the growth is slowing down.

Reliance Energy buys-back shares worth Rs 1.74 bn

BSE to launch Sensex futures on US bourse today.

Bharti Airtel, Reliance Communications (RCom), Tata Communications and BSNL will invest over USD 4 billion, in total, over the next two years to build new undersea links.

Colgate Palmolive India acquired 75% shareholding in CC Health Care Products, Hyderabad which is engaged in the manufacture of toothpowder.

Government is likely to discontinue the 10% levy mechanism on sugar.

The government will not be reducing its stake from the level of 51% in the public sector banks.

The government buys 10% of the total production from millers at lower price and distributes it to poor at a subsided rate. The government may discontinue 10% levy mechanism because of which the millers will able to sell entire quantity in domestic market as well as in international market.

DLF signed management agreements with Hilton Hotels Corporation involving seven new hotel developments in the pipeline.

NABARD estimates Rs 134.97 bn loan waiver in Maharashtra.

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