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Wednesday, September 17, 2008
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Indian banks’ Lehman exposure negligible
ICICI Bank has provided $12 m against investments by UK subsidiary. Mumbai, Sept. 16 While the collapse of the US-based investment bank Lehman Brothers may not have a direct impact on Indian banks, some of them may face marginal losses due to ...

RBI slaps curbs on Lehman’s India arms
Mumbai, Sept. 16 The Reserve Bank of India has issued a notice placing restrictions on the activities of the Indian subsidiaries of Lehman ...



Bilateral ties: The Minis...
TODAY'S PICK (Latest Audio: English/Tamil)
Entertainment Network (Rs 276.15): Buy
We recommend a buy in Entertainment Network India from a short-term horizon. It is evident form the charts of Entertainment Network that it has been on a long-term down trend from a high of Rs 700, its 52-week high recorded in early ...

Day Trading Guide


Rupee crashes by 90 paise
Mumbai, Sept. 16 The turbulence in the global equity markets echoed not only in the domestic equity markets, but also in the currency market, with the rupee crashing by 90 paise in intra-day trade on ...

RBI moves in to ease pressure on markets
Aims to infuse liquidity, draw forex. Mumbai, Sept 16 As a response to the developments in the global financial markets, the Reserve Bank of India has announced a series of measures aimed at increasing liquidity and attracting foreign ...

Are LPG variant cars losing cost advantage?
LUKEWARM OFFTAKE. New Delhi, Sept. 16 Car makers’ efforts to boost the sale of liquefied petroleum gas (LPG) variants may just become more challenging, with the LPG price rising nearly in the same proportion as that of petrol. Auto ...

Wheat prices crash on poor offtake by mills
Talks of Centre’s open market sale hit sentiments. Chennai, Sept. 16 Wheat prices in primary markets of Uttar Pradesh, Punjab and Haryana have crashed on poor offtake by rolling flour mills and talks of the Centre selling wheat at Rs 1,000 ...

Mamata softens stand on ancillary units in Singur
Kolkata, Sept. 16 The future of the Tata Motors small car project in Singur continues to remain uncertain even as Trinamool Congress leader Ms Mamata Banerjee conceded on Tuesday that she would have no objection to ancillary units being set ...

When banks believed their lies
It seems to be occurring with monotonous regularity – crises and bailouts. It is high time Governments and central banks ask themselves how much longer and often they want economies and financial markets to be periodically held hostage ...

Reliance Infra hopes for EPC contracts in nuclear energy
Also explores opportunities in steel, cement, shipping sectors. Mumbai, Sept. 16 Reliance Infrastructure Ltd will pursue EPC contract opportunities in nuclear energy, as and when the sector opens up for private sector participation, said Mr ...

Wipro unfazed by exit of executives from tech biz
Intensified competition in outsourcing may pose challenge, say analysts. Bangalore, Sept. 16 Wipro Ltd is unfazed by the recent exit of its key executives from its technology business after the management restructuring ...

Reliance Capital to invest Rs 2,000 cr in insurance biz
Seeks approval to enter home loan sector, expand asset management. Mumbai, Sept. 16 Reliance Capital, part of the Reliance ADAG group, would invest up to Rs 2,000 crore over the next three to five years in its insurance business, and also enter ...

Rupee weakness to continue (Latest Audio: English/Tamil)
The Indian currency took five-and-half years to appreciate from 49 to 39 between May 2002 and January 2008. But it took just nine months to retrace 70 per cent of this move as the rupee closed near the 47-mark on Tuesday. The currency is down 20 ...

Value of AIG’s India mutual funds falls by 7%
‘No redemption pressure seen’. Kolkata, Sept. 16 AIG, which is facing liquidity crisis, has seen NAV of its two Indian mutual funds go down in September by around 7 per cent. It has two plans called AIG India Equity ...

250 stocks hit new year lows on NSE
Chennai, Sept. 16 With the market falling sharply, the number of stocks hitting year lows has been on the ...

Fall in industrial metal prices to help steel, construction industry
Base metals under pressure on Lehman collapse. Mumbai, Sept. 16 The fall in prices of industrial metals such as copper, zinc, aluminium, lead and nickel is likely to benefit steel, construction, electrical equipment, cable and battery ...

Marketing schemes of car makers don’t make the cut this year
High interest rates, inflation hit such initiatives. Car makers are finding that marketing schemes — the magic wand that could turn around their sales last year — are proving to be of limited benefit this ...

‘Low’ ramps up to just below cyclone strength
Thiruvananthapuram, Sept 16Monday’s ‘low’ over the north Bay of Bengal became well-marked the same evening, intensified into a depression on Tuesday morning and further into a deep depression (one notch below tropical ...


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Markets (Sept 16)
Nifty (at close)4074.90(+2.00)
US Dollar (Buy/Sell)46.53/54
Brent crude (a bbl) Rs4,126
Gold (a gram) Rs1,089
Silver (a kg) Rs18,440


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