Business Daily from THE HINDU group of publications
Friday, June 27, 2008
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Commodities (June 26)
Gold (per gram) Rs1,141
Silver (per gram) Rs25.60
Brent crude (per bbl) Rs5,573
Markets (June 26)
BSE Sensex14421.82 (+201.75)
S&P CNX Nifty4315.85 (+63.20)
US Dollar42.75 (-0.02)


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Corus lifts Tata Steel profit
Consolidated net nearly triples to Rs 12,321 cr; revamp of group cos planned More

SBI, Union Bank hike lending rate by 50 bps
Mumbai, June 26 Banks have started hiking lending and deposit rates. Two public sector banks – State Bank of India and Union Bank of India – have announced an increase in their prime lending rates by 50 basis points each. Union ... More

Fertiliser subsidy plan fine-tuned
New Delhi, June 26 The Centre has brought two fertilisers - triple super phosphate (TSP) and ammonium sulphate - under the concession (subsidy) scheme, fixing their maximum retail prices at Rs 7,450 and Rs 10,350 a tonne, ... More

Essar loses Esmark bid to Severstal
Mumbai, June 26 Essar Group has lost out to the Russian steel maker Severstal in its bid to acquire the US steel company, Esmark.According to information, Severstal offered Esmark a price of $19.25 per share, outbidding Essar’s ... More

AP farmers reap tobacco bonanza
TELL-TALE CARS More

Sun Pharma to push bid for Taro
Files suit in New York More

LIC Housing Fin sets up financial services arm
Plans to launch a venture capital fund this year More

Tea Board to invite fresh bids to open closed gardens
Norms being relaxed for bidders More

ICICI Bank’s high networth individuals segment to grow 50%
Kolkata, June 26 ICICI Bank’s ‘high networth individuals’ segment — comprising both global private clients and wealth management — is set to witness a growth of 50 per cent in 2008-09, according to Mr Vivek ... More

Lanco plans wind energy foray
Targets establishing 1,000 MW installed capacity More

ITC exits greeting cards biz
To focus on notebooks, office stationery; plans pens, pencils foray More

Is sell-out the cure?
Is the Ranbaxy sale a healthy development or the symptom of a deeper malaise in the pharma sector? More

Why farmers bank on the ‘arhatiyas’
Forty-year-old Kewal Krishan is a ‘commission agent’ or an ‘arhatiya’ at the Moga grain mandi in Punjab. As farmers like Sukhdev Singh from nearby Dagru village bring their wheat to the mandi, it is Kewal Krishan who has ... More

‘Oil is not yet fully priced in stock market’
Large-caps look a better choice: Mitesh Mehta, Enam Securities More

‘India can grow at over 7% despite economic slowdown’
Chennai, June 26 Central banks all over the world had kept their interest rates too low for too long, according to Mr Gerard Lyons, Chief Economist and Group Head of Research, Standard Chartered Bank. And so when the reversal happens, ... More

TODAY'S PICK (Latest Audio: English/Tamil)
Godawari Power & Ispat (Rs 211.95): Buy
We recommend a buy in Godawari Power and Ispat from a short-term perspective. We see that the stock has been on a medium-term up trend since its March 2008 trough of Rs 150 (a key support level). On June 26, the stock jumped up more than 4 ... More

Day Trading Guide
The stock is pausing at around Rs 700 levels. Avoid initiating buy or sell position in this counter for the session. Infosys Sell the stock in rallies with tight stop-loss at Rs 1,800. More

Idea Cellular dips on fears of short-term margins pressure
Equity dilution also to impact, say analysts More

Oil and gas stocks gain on short covering
News of RIL starting production in Sept buoys the stock More

IMPACT
Good times continue for Aban Offshore
Firm day rates highlight strong demand for jack-up rigs More

Rains to spread as Bay circulation persists
Thiruvananthapuram, June 26 Wednesday’s upper air cyclonic circulation over North Bay of Bengal off the north Orissa and West Bengal coasts persisted on Thursday amid indications that the winds might pick up in strength during the next ... More


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