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Syndicate Bank net drops 32% to Rs 177 cr
Public sector Syndicate Bank today reported a 32 per cent drop in net profit to Rs 177.8 crore for the second quarter ended September 30 as compared with the corresponding quarter of last year. Its operating profit for the second quarter declined 5.2 per cent to Rs 443.3 crore compared to the year-ago period.

Small car maker, but big energy saver
Vinay Varshney, as he predicts the end of CFL lamps in a few years, points to the ceiling of the conference room at Maruti Suzuki’s factory in Gurgaon. It is then that we notice that the two holders, right above the two ends of the long table, have slots for three lamps, but only two are glowing.

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King Connectivity
Media/content: Connectivity is king. As painful as that admission would be for empire-building media moguls, it also looks to be true. Content may be sexy - it’s the driving force behind deals like Comcast’s possible purchase of NBC Universal, for example. But a simple look at market values or the willingness of wireless customers to pay for data services, suggests connectivity is worth more than content.
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Govt mulls preferential shares to BSNL staff

Government today said it was mulling to give preferential shares for employees of BSNL as and when the consensus is reached on the Initial Public Offer from the state-run telecom operator. - India loses crops of Rs 50,000 cr to poor post-harvest handling - Country faces shortage of 15,000 Mw, says minister - BSNL mobile service draws flak in LS - Sunil Jain: Don"t dial this merger">Sunil Jain: Don"t dial this merger - Govt to ban all wheat, non-Basmati rice exports - Govt hints nexus between private, state-owned vaccine units "I assure you it is not a question of disninvestment or privatisation. If it is possible, we can go in for 10-20 per cent IPO", Telecom Minister A Raja said in the Rajya Sabha. He said discussions are on with trade unions on the issue but no decision on IPO has yet been taken. "Preferential shares can be given to workers", Raja said. He admitted that BSNL profit has come down to Rs 500 crores citing reasons as delay in expansion plans owing to court cases on tenders for new equipment floated by the PSU. "Because of the court cases we are not able to build up the expansion", he said adding in Delhi even Urban Development and Home Ministry do not allow the companies to put up more towers. However, BSNL will soon place Advanced Purchase Order for equipment to roll out 93 million connections. Responding to complaints on call drops, he said "it is not common as the quality of service is being monitored by TRAI". BSNL and MTNL have to live with fierce competition while facing regular impediments of PSUs. Besides, negotiations for procurement of equipment take time in the absence of Chinese vendors which can not be used in the border areas.


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