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Monday, July 14, 2014

Gems and jewellery stocks extend fall post budget
Gems and jewellery stocks are continued under pressure third day in a row falling by up to 17% after the government kept gold import duty unchanged at a record 10% in the budget.

WPI inflation eases to 4-month low of 5.43% in June
WPI inflation eased to a four-month low of 5.43% in June from 6.01% last month. Food articles inflation at 8.14% vs 9.50% mom, Manufactured products inflation at 3.61% vs 3.55% mom, Fuel and power group inflation at 9.04% vs 10.53% mom, Primary articles inflation at 6.84 vs 8.58% mom.

Tata Power seeks shareholders nod to raise Rs70bn

Tata Power is seeking shareholders nod to raise up to Rs 7,000 crore through issue of non-convertible debentures. The company has proposed increasing its borrowing limit to Rs 27,000 crore.

Titan declines on buzz jewellery unit closes gold deposit schemes
Titan Company lost 2.54% on reports that the company's jewellery unit, Tanishq had closed two gold deposit schemes. Tanishq said it would close the deposit schemes due to changes to rules governing the sale of deposits under the Companies Act passed last year.

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