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Wal-Mart Q3 profit rises 3.2%; sales up 1.1%
The world"s largest retailer, Wal-Mart Stores Inc, today reported a 3.2 per cent rise in profit at $3.25 billion for the quarter ended October this year, with rise in productivity and improved inventory management supporting its profitability.

IAG pays SBI Rs 500 cr premium for non-life JV
Insurance Australia Group (IAG) will pay Rs 542 crore for a 26 per cent stake in its general insurance venture, SBI General Insurance Co.

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F&O OUTLOOK: Nifty likely to trade above 5,100 this week
The Nifty convincingly closed above the 61.8 per cent retracement levels of 4,940 on short-covering. The V-shape recovery is expected to continue with the Nifty likely to complete 100 per cent retracement this week of its recent fall from 5,181 to 4,538. Options data suggest the index has strong support at 4,900 and is building fresh support at 5,000.
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Mukesh, Tata praise Das' contribution to India Inc

Two of the country"s top corporate stalwarts, Ratan Tata and Mukesh Ambani, today showered rich praises on Tarun Das, a day after he demitted office as Chief Mentor of business chamber CII, and described him as the face of modern Indian industry. - Amend petition against NTPC in two weeks: HC asks RIL - Gas row: RIL, RNRL oppose shareholder plea in SC - Tata Motors mulls letting assemblers brand Nano">Tata Motors mulls letting assemblers brand Nano - Latha Jishnu: Hole in the gas pipeline">Latha Jishnu: Hole in the gas pipeline - "We cannot regulate gas prices" - RIL Q2 net down 6.4% at Rs 3,852 cr "Tarun Das is one of the those rare people of considerable ability who has dedicated his life to public good," diversified conglomerate Tata Group"s chief said in a statement. At the same time, Reliance Industries Chairman and MD Mukesh Ambani described Das as "pillar of strength for all, and CII in particular" and said that "his tremendous leadership qualities, foresight and humility will continue to guide and inspire young Indians in industry and elsewhere". "Tarun Das is a man ahead of his time for he reflected the dauntless entrepreneurial spirit that has come to represent modern Indian industry. He dreamt of a place for Indian industry at the global high table and collectively we have achieved it," Ambani added. The chief of the country"s largest private sector enterprise said that Das "so ably reflected the belief of modern India and countless Indians – that nothing is impossible to achieve." Das who was associated with the apex chamber for the past 35 years, assumed the role of the Chief Mentor of the Confederation of Indian Industry in 2004 after steering it for 26 years as its Director General. Tata said that Tarun"s vision for Indian industry would continue to inspire entrepreneurs, business managers, officials, civil society and youth. "Indian industry owes him a debt of gratitude, for his leadership has been instrumental in driving its development and global emergence." Das was known for his pro-active role in influencing the government policies on a host of issues. Das would now spend most of his time on international relationship building and matters related to domestic development, a CII statement said.


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