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SBM net drops 22.6% in Q3
Despite a 55.44 per cent rise in its net interest income, the Bangalore-based State Bank of Mysore (SBM), an associate bank of SBI, has posted a 22.6 per cent drop in its net profit to Rs 141.31 crore for the third quarter ended December 31, 2009 compared to the corresponding quarter last year. Its total income for the quarter stood at Rs 995.07 crore, a marginal drop of 5.3 per cent compared to the same quarter a year ago.

India adds 15 mn new wireless users in August
A record addition of 15 million wireless telephone users in August has catapulted the total subscriber base in the country to 494.07 million, closer to the government’s 2012 target.

News of the day

BMC to regularise water connections to pre-2000 slums
Municipal Corporation of Greater Mumbai (MCGM) would regularise water connections to slums in the city that came up before 2000. The decision comes in the wake of an announcement made by Chief Minister Ashok Chavan to regularise water connections to pre-2000 slums.
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Nalco's Q2 net erodes 64% at Rs 159 cr

The state-run aluminium major National Aluminium Company (Nalco) has posted 64 per cent erosion in net profit at 159.49 crore in the second quarter ending September 30, 2009 as compared to Rs 444.46 crore in the corresponding quarter last year. - Srivastava takes over as Nalco CMD - Nalco to invest Rs 25,000 crore - Nalco to foray into energy sector - Nalco to invest Rs 25,000 cr despite profit drop - Nalco granted bauxite mining lease in Andhra - Nalco eyes Rs 10,000 cr in five years Net sales of the company plunged 25.6 per cent to Rs 1,143.06 crore from Rs 1,536.42 crore during the period under consideration. Details awaited...


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