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Asian Markets end up mixed on Wednesday

2009-11-12T10:04:00.001+05:30

Shanghai slips on melded economic data whereas Sensex surge in spite of cyclone alert Stock markets in Asian region witnessed a mixed trend on Wednesday, 11 November 2009, following a rather choppy session on Wall Street overnight. Some of the regional markets did get off to a bright start, but are seen struggling for support at higher levels finishing the day at par. With no significantly

Market soars on firm global stocks

2009-11-12T10:03:00.003+05:30

The key benchmark indices soared tracking firm global stocks after China reported continued strength in industrial production growth, keeping alive hopes of a recovery in the global economy. The market resumed its upmove after taking a pause on Tuesday, 10 November 2009, after a solid surge in the preceding four trading session. Equities shrugged off Cyclone Phyan which is expected to bring heavy

Bulls make a comeback; Nifty closes above 5k

2009-11-12T10:03:00.001+05:30

The bulls made a comeback today (November 11) at the bourses. The Bombay Stock Exchange benchmark 30-share index, Sensex leaped by 409 points today on the back of aggressive buying on the part of funds in blue-chip stocks, particularly software exporters. The index also got support from positive global cues reflecting signs of recovery in global economic growth. While the pevious session of

Bulls make a comeback; Nifty closes above 5k

2009-11-11T23:09:00.001+05:30

Market soars on firm global stocks

2009-11-11T23:08:00.001+05:30

Asian Markets end up mixed on Wednesday

2009-11-11T23:07:00.001+05:30

Sensex shoots up 409 points

2009-11-11T23:06:00.003+05:30

Today's major news Shree Renuka Sugars acquires Brazilian company; the stock ends 1.91% higher. HCL Technologies is looking for string of acquisitions; the stock closed the session 5.18% higher. Rural Electrification Corporation gets Power Ministry’s nod for follow on public offer; the stock closed 5.46% higher. Sun Pharmaceutical Industries sues Zydus Cadila for trademark violation;

Nifty November 2009 futures above 5,000

2009-11-11T23:06:00.001+05:30

Turnover rises Nifty November 2009 futures were at 5,013.95, at a premium of 10 points as compared to spot closing of 5,003.95. Turnover in NSE's futures & options (F&O) segment jumped to Rs 86,963.91 crore from Rs 81,008.35 crore on Tuesday, 10 November 2009. Tata Motors November 2009 futures were at discount at 616.75 compared to the spot closing of 620.80. Reliance Industries November

Cyclone terror is moving towards Gujarat

2009-11-11T14:14:00.001+05:30

The meteorological department in the city has warned of a cyclonic storm and rainfall at most places in Gujarat, including Ahmedabad, by Wednesday evening. The Met department's forecast comes in the wake of formation of deep depression over the Arabian Sea.At 11:30 am on Tuesday, the deep depression lay over central Arabian Sea 470 km west northwest of Mangalore (420 km southwest of Goa) and 670

Cyclone Phyan nears; schools, colleges shut in Mumbai

2009-11-11T13:11:00.001+05:30

A cyclone alert has been sounded across north Maharashtra and south Gujarat, besides coastal areas, by the Meteorological Department, in the wake of a deep depression over the Arabian Sea. The cyclonic storm, referred by the IMD as Phyan, was likely to intensify further and move towards south Gujarat and north Maharashtra coast, between Alibagh and Valsad, by late evening on Wednesday, warned

Cyclone (Phyan) to Hit West Coast (Mumbai) after 67 years

2009-11-11T13:09:00.001+05:30

The Met department issued cyclone alert for the coastal areas of south Gujarat, northern Maharashtrra and some parts of Goa and Konkan region. India’s western coast should start preparing itself for two days of rough weather and heavy rain as a cyclonic storm, called Phyan by the Met office is developing over the Arabian Sea off north Maharashtra and south Gujarat coasts. At danger level 6,

Nifty November 2009 futures at discount

2009-11-11T09:41:00.003+05:30

Turnover surges Nifty November 2009 futures were at 4,872.15, at a discount of 9.55 points as compared to spot closing of 4,881.70. Turnover in NSE's futures & options (F&O) segment surged to Rs 81,008.35 crore from Rs 73,802.20 crore on Monday, 9 November 2009. State Bank of India November 2009 futures were at discount at 2345.20 compared to the spot closing of 2365.10. Reliance

Sensex slips after morning surge

2009-11-11T09:41:00.001+05:30

Today's major news Alstom Projects secures contract from Hindalco Industries; the stock ends 1.42% higher. Reliance Industries discovers oil in Cambay basin; the stock closed the session 1.39% higher. Siemens receives order worth Rs608 crore; the stock closed 0.19% lower. Subhash Projects & Marketing wins orders of Rs277.71 crore; the stock ends the session 1.75% higher. Tata

Market takes a breather after sharp rally

2009-11-11T09:40:00.001+05:30

The key benchmark indices snapped last four days' gains, closing with small losses on profit taking. The BSE 30-share Sensex fell 58.16 points or 0.35%, off close to 240 points from the day's high and up close to 70 points from the day's low. Intraday volatility was high. FMCG, capital goods, telecom and realty stocks fell. The market breadth was negative in contrast to a strong breadth earlier

Why India is moving to monthly inflation figures

2009-11-11T08:55:00.001+05:30

Inflation is like a toothache. It grows slowly, inexorably, and in the end affects your efficiency. Just like for toothaches, tolerance levels vary for inflation too. Some countries can tolerate higher levels of it without growth slowing down. For others, the threshold is lower. Developed countries have lower inflation thresholds -- as usual the rich are softer -- and developing countries have

Haryana govt to impose licence-raj for cable TV

2009-11-10T10:14:00.003+05:30

The Haryana government will shortly do what the information and broadcasting ministry had tried to introduce for years by taking a decision to auction three-year licences to run cable operations in every city and town in the state. In effect, the move will bring all cable operators in the state under a licence regime, but will adversely impact around 1,000 cable operators and around 300 Multi

SET Max making another pile from IPL ad revenue

2009-11-10T10:14:00.001+05:30

SET Max, the official broadcasters of the Indian Premier League (IPL)cricket tournament, has already hit a sixer with the third edition of the twenty20 league. The channel is estimated to rake in over Rs 650 crore, 30 per cent higher than it got in IPL-2. "We have witnessed substantial growth in revenues. Brands have realised the potential of IPL and have come on board way in advance," confirms

The re-invention of the PSU bank

2009-11-10T10:12:00.001+05:30

When I moved into my own home at a Delhi suburb six years ago, the nearest bank branch was six kilometers away. I used to keep looking wistfully at two large barren pieces of land near my home earmarked for shopping malls. I used to hope that some day a bank branch with an ATM would come up. When the first mall came up last year, one of the first outfits that sprung up was indeed a bank branch

Mumbai a city of 'slum dwellers'?

2009-11-10T10:11:00.001+05:30

A recent Human Development Report compiled by Brihanmumbai Municipal Corporation and United Nations Development Programme stated one in two persons resides in a slum in India's financial capital. "Worldwide, one in three persons lives in a slum. But the figures are much higher for Mumbai where 54.1 per cent of the population are slum dwellers as per the 2001 Census." In 2006-07, the city had a

Tata may roll out 200 Nanos daily by March

2009-11-10T10:08:00.003+05:30

As Tata Motors gears up for test production, it is targeting 200 Nanos daily from its Sanand factory by March 2010, according to vendors. Local suppliers, who did not want to be identified, have said they had been asked by the company to supply components that would support production of 200 cars a day. The company plans test production of 50-60 cars per day from January. Currently, it is

How customers are exploited; what's the remedy?

2009-11-10T10:08:00.001+05:30

We buy a variety of goods and services in our day to day life and derive satisfaction from its consumption and use. Thus we all are consumers, and as a consumer, we expect a certain value for money, that is, right quality, right quantity, right prices, information about the product, etc. However, in the present day, we end up being harassed and cheated by market giants very often. In early days

The soothsayer of Mint Street

2009-11-10T10:07:00.001+05:30

"Fame followed by blame." This is how former Reserve Bank of India (RBI) governor and this year's recipient of the Hall of Fame Award reacted to his nomination for the most prestigious of the Outlook Money NDTV Profit Awards 2009. Reddy was conferred the award for strengthening the Indian financial system. In the last two years, up to 2008, of his tenure at the head of India's central bank,

Twist in tax regime

2009-11-10T10:05:00.001+05:30

India has followed the system of not taxing retirement savings (majority of long-term tax saving instruments) at any stage -- be it at the time of investment, accretion of income, or withdrawal -- subject to certain conditions. Accordingly, these tax-saving instruments came under the EEE or the Exempt-Exempt-Exempt system of taxation. The current year saw a change in this system by the

RIL eyeing overseas acquisition?

2009-11-10T10:02:00.001+05:30

Reliance Industries Limited is believed to have initiated discussions for possible acquisitions abroad, including the US and European assets of troubled global petrochemicals and crude oil refiner LyondellBasell. The foreign acquisitions are being looked at to strengthen RIL's core businesses like petrochemicals, polymers and refinery, sources said, adding that the company has found that the

Daily News Roundup - Nov 10 2009

2009-11-10T09:46:00.003+05:30

Kingfisher Airlines is planning to raise around US$600mn worth of funds in FY10 to pay off its debt and strengthen its bottom line. (BS) Blackstone Group plans to invest Rs3bn in GatewayRail Freight Ltd, a subsidiary of Gateway Distriparks Ltd (GDL). (BS) Hindalco starts roadshow for its Rs29bn QIP on 10th November. (BS) ICICI Bank plans to sell its 25% stake in back-office firm