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REC to launch FPO by February
The follow-on public issue of the power sector financier, Rural Electrification Corporation (REC), is likely to hit the market by February next year.

Banks get 6 more mths to treat equity MF loans as mkt exposure
The Reserve Bank of India (RBI) today extended the transition period given to the banks to treat the advances to equity-oriented mutual funds as capital markets exposure by six more months.

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Ambuja Cements slips on poor nos
Ambuja Cements finally ended at Rs 95, down 2% from the previous close. Heavy volumes of 1.57 million shares were traded on the BSE as compared to the two-week daily average volumes of 916,782 shares.
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Tata Tele adds 3.3 mn mobile users in Nov

Telecom operator Tata Teleservices (TTSL) today said its subscriber addition in November at 3.3 million is the highest for the fourth time in a row among all service providers, including GSM operators. - Tata Teleservices eyes 100 mn users by 2011 - Tata Teleservices: TV on the move">Tata Teleservices: TV on the move - Tata DOCOMO to invest Rs 1,400 cr in K"taka - TTSL, RCom, others owe Rs 603 cr; Airtel pays highest revenue - DoT gives Bharti a week to comply with audit queries - DoT wants telcos to share info with auditors on time "Tata Teleservices has added 3,329,215 new subscribers in November 2009 from its CDMA (Tata Indicom) and GSM operations (Tata DOCOMO) put together. In October too, TTSL had added 3.8 million new subscribers," said the company. Reliance Communications (RCom) and Tata Tele are dual technology service providers. During the month, Bharti Airtel, which operates on GSM technology added 2.8 million mobile subscribers (as per COAI) while RCom added 2.2 million wireless users from both GSM and CDMA division (as per AUSPI). "It is gratifying to emerge as the top grosser in the industry in terms of new subscriber additions, for the fourth consecutive month. We have added close to 15 million new subscribers over the last four months. In the recent past, the company have announced offers such as "Pay-for-exactly-what-you-use’ pricing paradigm for roaming services as well on the Tata DOCOMO platform, he said adding, from the Tata Indicom stable, customers have access to the innovative "Pay-Per Call" offer, wherein a subscriber speaks for three minutes and the next three minutes are free. Also they have the unique per second plan, Sardana added. Competition is expected to become stiffer in India, which is also the fastest-growing mobile-telephone market, with more companies launching their services.


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