Business Daily from THE HINDU group of publications
Saturday, June 28, 2008
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Commodities (June 27)
Gold (per gram) Rs1,173
Silver (per gram) Rs26.25
Brent crude (per bbl) Rs5,978
Markets (June 27)
BSE Sensex13802.22 (-619.60)
S&P CNX Nifty4136.65 (-179.20)
US Dollar42.88 (+0.13)


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Heavy selling pulls stocks down
Sensex slides 620 points; negative global signals keep sentiment weak More

Inflation rises to 11.42%
New Delhi, June 27 The Wholesale Price Index-based inflation shot up further to 11.42 per cent during the week ended June 14, up from the previous week’s annual rise of 11.05 per cent. The latest rise in the year-on-year inflation ... More

India, Pakistan agree on stand on pipeline talks
New Delhi, June 27 India and Pakistan propose to adopt a common position on the pending trilateral issues between the three countries – Iran, Pakistan, and India – on the about $ 7.4-billion gas pipeline project. After resolving ... More

Unitech Q4 net down 50%
To dilute stake in telecom arm More

DoT scraps plan to auction 3G for CDMA players
New Delhi, June 27 Seventy one million CDMA mobile subscribers face an uncertain future with regard to the availability of third generation mobile services. Even as the Government is close to finalising the policy for 3G services for ... More

Three banks to hike prime lending rates by 50 bps
Punjab National Bank (PNB) on Friday announced an upward revision in its benchmark prime lending rate (BPLR) as well as its home loan and auto loan rates by 50 basis points each. The bank has also decided to increase the deposit rates ... More

Gates logs out of day-to-day role at Microsoft
ANOTHER CALLING More

Demand for cement seen softening
Mumbai, June 27 The hike in Cash Reserve Ratio and Repo Rate is likely to have a cascading effect on the cement industry, which is reeling under high input cost and Government measures keeping retail prices under check. An expected ... More

‘Banks’ foreclosure charges liable for service tax’
Pre-closure or foreclosure charges collected by banks and other companies, as part of their lending and financial services activities, would attract service tax, the Finance Ministry has clarified. This would imply that customers paying ... More

Step-up in kharif sowing augurs hope on inflation
Monsoon rains, remunerative prices prompt farmers to plant more More

General insurers under solvency pressure as investment value dips
Private players feel the heat; no immediate impact on PSU sector More

Checking job-hop: IT cos insist on service agreements
Freshers asked to pay deposit or sign a bond More

Output from Panna-Mukta to resume in 15 days
Temporary shutdown after explosion More

Is ban on non-basmati rice exports being flouted?
Signs of containers being shipped out from Mumbai, Kakinada More

Raymond buys bale of finest wool for Rs 1 cr
Mumbai, June 27 Raymond Ltd has won the bid to acquire the world’s first bale of wool of 11.6 micron, the finest ever to be offered at auction in Australia. By winning this bid, the textile company is all set to redefine the ... More

Will windfall profits tax ease the oil price burden?
More

India’s first electricity bourse starts operations
New Delhi, June 27 The country’s first electricity bourse — the Indian Energy Exchange Ltd (IEX) — commenced operations on Friday. IEX is jointly promoted by Financial Technologies (India) Ltd and PTC India Ltd. The ... More

Bears keep their date with Fridays
Markets have fallen in 6 out of last 8 Fridays More

Housing finance cos feel the inflation heat
Fears of further monetary tightening lead selling More

Airline stocks fall under fears of another hike in ATF prices
Mumbai, June 27 Stock prices of airline companies fell on Friday amidst fears of the latest hike in oil prices likely to impact cost of aviation turbine fuel or ATF, yet again. The stocks of three listed companies Jet Airways, Spicejet and ... More

Centre to spend Rs 1,346 cr on Dandi Heritage Route
Ahmedabad, June 27 The Union Government will spend a total of Rs1,346 crore on the construction of the 385-km-long Dandi Heritage Route between Ahmedabad and Dandi in Surat district where Mahatma Gandhi had defied the British Salt Law after a ... More

Markets this week
Continuing its losing streak from where it left off, on Monday too the Sensex fell by 150 points from the previous close of 14,570. The record double digit inflation body blow, the somewhat unproductive Jeddah meet on oil, the continuing ... More

Rain surplus depletes to 26%
Rainfall surplus for the country as a whole has depleted to 26 per cent as on Wednesday from a 19-day-high of 45 per cent a week ago, as the monsoon withered along the west coast during the intervening period. Lack of a trigger mechanism in ... More


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