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Bank charges may be capped
Banks may soon have to cap the charges on basic services such as issuing a draft, remittances or for stop-payment instructions.

India urges SEC not to fine on Satyam
India has urged the US Securities Exchange Commission (SEC) not to impose fine on Satyam, now Mahindra Satyam, in view of irregularities as the company was also listed there.

News of the day

GST will reduce tax burden by 25-30%: FinMin
While the finance ministry today admitted to Rs 20,000-22,000-crore shortfall in the indirect tax collections during the current year, it went on to assure the industry that the tax burden on people would come down by 25-30 per cent with the introduction of the proposed goods and services tax (GST).
Online Business

Panacea hits 5% upper circuit on Unicef order

Panacea Biotec settled up 5% at its upper circuit limit of Rs 183. The counter clocked a volume of 11,424 shares as against its two-week average trades of 19,885 shares. __________________________________________________________________ Negative view on state-run oil cos: Fitch Jan cement sales in high double-digit Panacea Biotech has soared to its 5% upper circuit on a Rs 1,000 crore order from Unicef. The stock opened at its 5% upper circuit of Rs 183 and is currently locked at this level. Over 10,072 shares have been traded on the counter so far, with 20,822 buy orders pending. The stock has soared 17% in the past week itself. The company has bagged a three-year contract from Unicef for supplying its Easy-Five vaccine. The order is worth Rs 1,000 crore. The vaccine is used for immunising children against five diseases - Diptheria, Tetanus, Pertussis, Hepatitis B and Hemophilus Influenza.


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