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Power situation improves in state

With power situation improving following good rains, Karnataka minister for energy K S Eshwarappa today said urban areas would get 22 hours of supply a day from August one, while load-shedding in rural ones would be to the extent of 14 hours. In Bangalore, the Bangalore Electricity Supply company (Bescom) has said it would make all efforts to provide 24-hour power supply, he told reporters here. Rural areas would get power supply for five hours in case of single-phase and five hours for irrigation purpose (IP sets) which means they would face load-shedding for 14 hours.

Banking at phone hubs soon

Outlets of telecom companies such as Airtel and Vodafone may soon double as bank kiosks for financial services like funds transfer or bill payment, especially in parts of the country where there are very few banks or none at all.

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HCL Infosystems Q2 net down 11% to Rs 59 cr

IT firm HCL Infosystems today reported a consolidated net profit of Rs 58.97 crore for the second quarter ended September 2009, a 10.77 per cent drop over the same period a year ago.

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Markets rebound

The markets have rebounded into the positive zone owing to fresh buying. The Sensex is now up eight points at 16,927. The Nifty is up two points at 5,045. _______________________________________________________ The market breadth is fairly positive, out of 2,701 shares traded, 1,566 have advanced and 1,039 have declined so far on the BSE.