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Recession-hit tourism sector looks up to CWG
Terror threat, swine flu scare and hike in air fares hit the tourism sector hard in 2009 with number of foreigners visiting the country dropping by over six per cent but the Tourism Ministry is now looking up to the Commonwealth Games (CWG) to reverse the trend.

FMC warns PXIL and its members
In what could hit trading on Power Exchange of India Ltd (PXIL), the Forward Markets Commission (FMC) has warned it to cease trading in contracts beyond 11 days of payment and delivery. The FMC has also advised traders to desist from trading such contracts on PXIL.

News of the day

AP seeks Rs 10,000 cr for drought relief
The Andhra Pradesh government has decided to seek Rs 10,000 crore from the Centre to undertake drought relief measures in the state. A memorandum will be submitted to the Union government shortly. A decision to this effect was taken at a review meeting held by chief minister, K Rosaiah, on Sunday.
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Bharat Forge seeks shareholders' nod to raise $150 mn

Auto component maker Bharat Forge today said it will seek shareholders" approval to raise $150 million (nearly Rs 720 crore) by issue of warrants or bonds. - Shriram Pistons to invest Rs 225 cr to set up plant - RICO targets Rs 1,000 cr turnover this fiscal - Bharat Forge: Only partly better - Bharat Forge up 8.5% on fund-raising plan - Bharat Forge declines on ICRA loan downgrade - Federal-Mogul Goetze June qtr net jumps two-folds at Rs 16 cr The shareholders would meet on October 1, to consider raising funds of $150 million by issue of warrants or bonds, with or without an option to raise an additional amount if the subscription is fully subscribed, Bharat Forge said in a filing to the Bombay Stock Exchange(BSE). The company would issue warrants or bonds to potential buyers, the filing added. Shares of Bharat Forge today closed at Rs 225.80 on the BSE, up 2.98 per cent from the previous close.


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