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Friday, May 9, 2008
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Economic Indicators (May 9)
GDP8.70%
Inflation7.61% (April 26)
Call money6.00/6.05%
Rupee Ref rate41.38($) 63.89(€)
Markets (May 09 at close)
BSE Sensex16737.07(-345.58)
S&P CNX Nifty4982.20(-99.10)
US Dollar (Buy/Sell)41.7150/7250
  


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NEWS UPDATE
Monday to Saturday

Story of the Day
Bank depositors to earn negative interest if inflation stays

Markets
RIL falls, Bharti gains
Markets lack support at higher levels; Sensex slips below 17K  Updated
Cement shares turn weak on ACC's plan to hold price
Forex Rates
Call rate at 6.00-6.05 per cent
Rupee recovers against US dollar  Updated

Corporate
Andrew Yule turns around
NTPC eyes coal mines overseas
MIC Electronics plans stock split
Nissan appoints Hover Automotive as Indian service partner
Tata Power fixes floor for warrants conversion at Rs 1,351
Pizza chain Papa John's to open 100 outlets
Essar Power gets CCEA approval for Rs 8000-cr FDI
Hindalco issues 20 lakh securities to Indal shareholders
ACC decides to hold cement prices
Texmaco board to consider results, stock split
Board meetings today
Board meetings tomorrow

Book Closures/Dividends
Surana Corporation recommends 12% dividend
Premier to pay 25% dividend
Birla Corp board recommends Rs 4 dividend
NMDC Board to consider results, dividend

Macro Economy
Price rise... FM promises more administrative steps
Inflation rises further to 7.61%  Updated

Industry
Retail prices of food items stable, oils prices decline
Revised APDRP soon
Pressure mounted on cement producers to cut prices

Agri-Business
Vegetable prices in Chennai

Commodities
Gold regains Rs 12,000 level as funds shift from equities
PEC invites bids to import soyabean oil
Mjunction ties up with NCDEX for spot steel price index
Crude trades above $125  Updated

Logistics
British Airways takes beef off its menu

Global News / Markets
World equity markets bounce back in April: S&P
US markets jump
Asian markets slide

General
Japan commits Rs 8,582 crore for 9 infra projects
Reliance ready to offer market value for land use
Germany looks to India
No fresh communication from Tatas: Orient-Express
India, US narrowing gap on Doha Round, says Nath
France plans to double trade with India
Political consensus necessary on Indo-US nuclear deal: Nath

Info-Tech
"Foreign 3G players not suited for India"
Infotech Enterprises bags data management contract

Banking & Finance
BoR appoints K K Sharma as Executive Director
Kotak Mahindra Bank consolidated PAT up 84% for FY'08

Variety
Hip fat is 'good'; potbellies are 'bad'

Marketing
Spencer's Retail to pump in Rs 1,500 crore for expansion

Govt/States
Industrialists in MP enjoy benefits of MoU signed with Govt

Legal
APTEL reserves order on Reliance Fuel plea


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