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Unitech to raise $575 mn through QIP route
Within less than three months of raising $325 million through Qualified Institutional Placement (QIP), Unitech Ltd, the second largest real estate company in the country, is raising $575 million (Rs 2,770 crore) through the same route. The fund would be used to repay part of the company’s debt, which is currently at Rs 7,500 crore.

RBI unveils timetable to implement norms
After ensuring successful implementation of basic Basel II norms by banks, Reserve Bank of India (RBI) today unveiled a timeframe to adopt advanced approaches to manage credit, market and operational risks.

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Textile firms renew demand for banning cotton exports
With the price of domestic cotton rising and a high level of export contracts, the Confederation of Indian Textile Industry (Citi) has renewed its demand for restricting the latter.
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Golden Tobacco surges 5%

The stock was locked at an upper circuit limit of 5 per cent to Rs 114 after the company said its board will meet on 1 December to consider a proposal from Pramod Jain to acquire 25 per cent stake in the company. - Golden Tobacco board to mull Jain"s open offer on Dec 1 - Sanjay Dalmia asked to appear before EOW - Dalmia-owned GHCL postpones board meeting - Pramod Jain sees huge value in Golden Tobacco property - Pramod Jain makes open offer for Golden Tobacco - Pramod Jain makes offer for 25% in Dalmia"s Golden Tobacco On 13 November, Pramod Jain, a minority shareholder with 6.47 per cent stakes, made an open offer to acquire 25 per cent stake in the Sanjay Dalmia-promoted company, a move that could possibly open a clash for management control. Jain made an open offer to acquire 44.02 lakh shares at Rs 101 each.


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