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Rupee slips on dollar buys by importers
The rupee fell, reversing earlier gains, on speculation importers used the currency’s rise to a week’s high today to buy cheaper foreign exchange.

Balrampur, Bajaj Hind deal off
Balrampur Chini has called off the deal it was looking to enter into with Bajaj Hindusthan after initial talks. In a communication to the stock exchanges, Balrampur Chini said “some discussions were held with Bajaj Hindusthan on future business strategies”. It said the promoters had not entered into any agreement with any party for sale of their stake.

News of the day

BCCI finds no Sahara for India
With no takers for the sponsorship of the Indian cricket team, the Board of Control for Cricket in India (BCCI) is now looking at alternatives — either to go for re-tendering with a lower base price or renegotiate a contract with the Sahara group, which currently holds sponsorship till December.
Small Business

India's demand for sugar led to higher global India"s demand for sugar led to higher global Press trust of India / New Delhi July 14, 2009, 15:08 IST

Cox & Kings Q3 net jumps 88% to Rs 19 cr UCO Bank seeks shareholders" nod for fund raising However, in the domestic wholesale market sugar prices have jumped by over 45 per cent to Rs 2,475 a quintal in June 2009 from Rs 1,700 a quintal in July 2008. Consumers say they have seen a rise of nearly 59 per cent in retail prices during past one year. The retail prices of sugar were in the range of Rs 25-27 a kg in June this year as against Rs 17-19 per kg in July 2008. Pointing that the country"s estimated sugar production in the current season is 10.8-11.3 million tonnes less than the last season"s, Thomas said the lower production has put pressure on prices of sugar in the market. The sugar production in 2008-09 (October-September) is estimated to be in the range of 15-15.5 million tonnes compared to 26.3 million tonnes in 2007-08, he added.


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