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Quantitative cap on MF investments needed: Union Bank
Union Bank of India had restricted investments into mutual funds (MFs) but has not yet exited them, and was in favour of quantitative restrictions on investments by banks, said Executive Director S Raman today.

Investors give thumbs-down to Power Grid's overseas plans
Power Grid ended at Rs 113, lower by Rs 1 or 1.2%, on the BSE.

News of the day

Web Excl - Dividend distribution tax: An anomaly unresolved
Over the past two decades, India is being viewed as one of the premier destinations for the global foreign direct investments. These investments have been the major supplement of the growth story of the country, particularly in the areas of infrastructure, information technology and power.
Small Business

S Kumars Nationwide FY'09 net at Rs 60 cr

Textile company S Kumars Nationwide today said its net profit stood at Rs 60.09 crore for the year ended March 31, 2009, while it had a net profit of Rs 178.13 crore in the same period previous fiscal. - J K Cotton Mill ready for competition after 19 yrs of closure - Lodha Group top bidder for NTC prime land in Mumbai - Maran to visit Japan for promoting textiles industry - Textile industry attracts 50% more investments in FY"09 - Maran to led trade delegation to Japan - Raymond re-appoints Gautam Hari Singhania as CMD "The financial results of the company for the year ended March 31, 2009 are not comparable with the results for the year ended March 31, 2008 on account of the subsidiarisation of "Reid & Taylor" with effect from January 1, 2008," S Kumars Nationwide said in a filing to the Bombay Stock Exchange (BSE). Net sales stood at Rs 1,550.23 crore in the latest quarter, however, it had a net sales of Rs 1,605.72 crore in the same quarter previous fiscal. S Kumars Nationwide was trading at Rs 39.75 on the BSE, up 2.45 per cent from previous close.


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