Tata Motors: 500,000 Nano forms = Rs.15 crore

Posted on April 24, 2009
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Just days after Tata Motors began the booking process for the Tata Nano, the company has reaped a windfall of almost Rs.15 crore, purely by selling close to 500,000 application forms @ Rs.300 each. The sale of forms started on April 1, bookings began from April 9 and close on April 25. State Bank of India (SBI), which is offering loans at 10% now, has already sold over 100,000 forms. 

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Axis Bank – Shikha Sharma takes over as Nayak moves out

Posted on April 21, 2009
Filed Under Movers and Shakers | Leave a Comment

Shikha Sharma, CEO and MD of ICICI Prudential Life Insurance, has decided to move on.

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Morningstar starts India operations

Posted on April 16, 2009
Filed Under Company News, Mutual Fund | Leave a Comment

Morningstar Inc, a Chicago based independent investment research company has commenced operations in India. Aditya Agarwal has been appointed as the Managing Director of the company in India. Agarwal was one of the founders of MutualFundsIndia.com (later acquired by ICRA).

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SBI Chota SIP, a micro SIP from SBIMF

Posted on April 15, 2009
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SBI Mutual Fund has launched an equity–based micro SIP called SBI Chota SIP. 

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Hindalco shareholders approve financial restructuring plan

Posted on April 6, 2009
Filed Under Stocks | Leave a Comment

Hindalco informed the BSE that it’s shareholders have approved the financial restructuring to use a portion of its reserves to write off expenses incurred by the company on international acquisition and domestic expansion. As per the scheme, the balance lying in the Securities Premium Account would be transferred to the Business Reconstruction Reserve Account, which could also result in a reduction of capital.

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