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Buzzing Stocks
· Jyoti Structures plans to set up new facility in USA for manufacture of lattice steel towers and for this purpose to invest up to $12mn,
· SBI and BOI raise deposit rates. BoI has hiked fixed deposit rates by up to 1% on select maturities while SBI has raised deposit rates in various maturities by as much as 150 basis points, effective Dec 06.
· Religare Enterprises is close to buying 85% of the Ajay Piramal Group promoted real estate fund Indiareit Fund Advisors, valuing the entire fund at around `250Cr.
· Bank of Baroda plans to open 900 branches and another nine overseas branches by the end of fiscal 2011-12.
· Suzlon Energy would merge its infrastructure and tower business divisions with itself.
· Bharat Forge is making big plans for its power equipment business. The company is going to invest `1900Cr in its joint venture with India’s largest power company NTPC. And its joint with French energy giant Areva will also begin construction for nuclear forgings plant this month.
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