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Indian Overseas Bank cuts lending rate by 0.5%
Indian Overseas Bank (IOB) today slashed benchmark prime lending rate (PLR) by 0.5 per cent to 12 per cent in line with its peers.

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RIL accuses NTPC of going back on draft gas pact
Reliance Industries (RIL) has accused NTPC Chairman and Managing Director R S Sharma of going back on the terms of a draft gas sales and purchase agreement that provided for government approving its bid price of $2.34 per mmBtu.

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3G: Raise funds locally now, refinance via ECB later
The government today allowed prospective 3G bidders to raise funds from domestic markets, which could later be refinanced through debts raised abroad, giving a major boost for 3G spectrum auction.
Public Relations

Kalpataru Power declines despite bagging orders

Kalpataru Power Transmission closed at Rs 1151, weaker by Rs 19 or 1.64%, on the BSE. The scrip had opened at Rs 1,199 and zoomed to a high of Rs 1,209 and a low of Rs 1145 during the day. Jan cement sales in high double-digit The counter clocked total trades of 0.36 lakh shares as against he wo-wek average of 0.30 lakh shares. --------------------------------------------------------------------------------------------------------------(Updated at 1027am) Kalpataru Power Transmission has advanced after the company bagged two orders worth more than Rs 250 crore from Algeria and Tamil Nadu Electricity Board recently. The scrip opened at Rs 1,180 and zoomed to a high of Rs 1,216. The scrip is now trading at Rs 1,198, up 2.5% from its previous close. The counter has clocked 24,465 shares on the NSE.


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