2. HDFC hikes PLR by 50 basis points Leading home providing HDFC raised its prime lending rate(PLR) by 50 basis points from existing 13.75% to 14.25% from sept 1, 2010. The rates for the existing customer and new customer
3. Barclays relieved of SEBI ban Market regulator SEBI has lifted the ban on British bank Barclays for issuing off share derivative instrument. It will help to lender to facilitate investment by unregistered entities into Indian stock markets
4. Cipla to decide on medpro stake buy in oct.. Cipla decide to buy stake of up to 25% in a unit of South Africa based CiplaMedpro. CiplaMedpro is partner of Indian firm and is third biggest drug maker in South Africa. Indian firm exports arround 35% of it’s production. 15% export revenues are through CiplaMedpro.
5. Rise In Yen’s Create Tough Situation For Toyota Motor The world’s largest auto maker will consider moving its factories overseas to build models to sold in Japan. Because did not rise sale of cars. Friday , dollerrollied against the yen 83.58 to 84.39 yen
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8. Decision on reinstating Hyundai Workers deferred to Sep13 A decision on reinstating 35 dismissed workers of Hyundai Motor India was deferred for the third time Friday to Sept 13 with Tamil Nadu Labour Minister T M Anbarason seeking more time to report the issue.
