Business Ideas
Anil Ambani group firm Reliance Capital Asset Management today announced appointment of Ian Lancaster as the CEO of its Malaysian subsidiary, which has been set up to tap the fast-growing market for products complying with Islamic law.
Two stores to open in Chennai, hiring begins.
Swiss banks may have turned over client details to the US, but they have said India is not welcome there on a name-fishing expedition.
Korean consumer durables maker LG Electronics today said it will hire around 4,000 people in India in next three months to enhance its after-sales services in the air conditioner segment.
Usha Martin Education and Solutions has forayed into providing standardized end to end solutions and school management services to enable the creation of a national network of high quality english medium K-12 schools with a focus on non-metro towns and cities of India.
The jobless rate in the Organisation for Economic Co-operation and Development (OECD) region -- a grouping of developed and developing nations -- rose marginally to 9.8 per cent in October, indicating that the labour market is yet to shrug off recession blues.
China presents four major opportunities to the IT industry in India, including servicing the north Asian market, Som Mittal, Chairperson of NASSCOM (National Association of Software and Services Companies), said here today.
India and the US have signed an MoU on counter-terrorism and five other agreements as they agreed to chart their ties as "one of the defining relations" in the 21st century in which New Delhi will have a leadership role in the region and the world.
Most of the business leaders surveyed across the world sounded optimistic about growth prospects and are planning to raise headcounts this year, indicating that fears of world financial meltdown have receded, said a survey.
PricewaterhouseCoopers (PwC) has suggested strengthening of connectivity framework in North-East to provide an impetus for economic development of the region. In its survey report, PwC has suggested that North-East empowers people through inclusive governance. Grassroots plans that are prepared and implemented at the grassroots levels and are consolidated at the district level, could help in the provision of public services according to the needs of people.
Anil Dhirubhai Ambani Group company Reliance Infrastructure (R-Infra) will soon be the official owner of the second phase of the Mumbai Metro project. The state government and the company would sign a concession agreement for the Rs 11,000-crore project on Thursday, according to sources.
Sales of commercial vehicles (CVs), which were on a decline for over a year, are showing signs of a recovery. Two out of the three CV makers reported an increase in sales last month.
As the world tries to get over the economic slump, commercial vehicle (CV) manufacturers like Tata Motors, Ashok Leyland, Eicher, Volvo, Daimler and Mahindra-Navistar are preparing for a flurry of launches to cash in on the increased economic activity in the country.
The country"s largest sugar producer Bajaj Hindusthan today posted a net profit of Rs 69.08 crore for the quarter ended September 30, and has announced 70 per cent dividend for the fiscal year 2009.
Slamming claims that it poses a threat to oil and gas sector regulator V K Sibal’s life, the Anil Dhirubhai Ambani group today said it would file criminal proceedings against the Director General of Hydrocarbons (DGH) for “defamation and character assassination”.
German carmaker Volkswagen AG said it would unveil several new models at the Frankfurt Auto Show, including an electric car called the E-Up.
Swimming in the Yangtze is not easy, or so web-giant Google is discovering. Bitten by the censorship shark, Google is threatening to withdraw from China over orchestrated cyber-attacks targeting e-mail accounts of human rights activists and dissidents, users of google.cn and systematic hacking of valuable corporate secrets of major financial, defence and technology companies based in the United States from its computer systems. Google discussed and aligned with the US government before making this dramatic announcement. The US government has made a formal protest to Beijing.
Yahoo! News has emerged as the top destination for news in India on the web and Times of India the most engaging local brand news site with maximum visitors, reveals a study.
India"s inflation is likely to touch 8 per cent by the end of this fiscal, with an increasing risk that it may even reach double digits due to soaring food prices.
India"s exports grew over 18 per cent to touch $13.2 billion in November, reversing the downtrend seen in the past 13 months in a row due to shrinking in demand in major western markets.
GHCL promoter Sanjay Dalmia appears to be in control of the country’s largest soda ash maker, and is believed to have increased his shareholding significantly above the 18.5 per cent he held till recently when a battle for control of the company raged.
He described how India had negotiations with US for almost 36 hours over the words of the Accord.
Business Standard / New Delhi January 22, 2010, 0:58 IST
Asian stocks fell for the fourth straight day as China’s fastest quarterly economic growth since 2007 and Indian food inflation raised concern about government action to control price increases.
Digital imaging company Canon India is targetting a turnover of Rs 1,100 crore during 2010, a growth of 25 per cent compared to last year, a top official today said.
Engineering services provider Defiance Tech, part of the multi-billion dollar Hinduja Group, today announced expanding its services to the areas of manufacturing and enterprise solutions, eyeing the markets of India, US, Europe and Middle-East nations.
India-specific hatchbacks took centrestage at the 10th AUTO EXPO, currently on in New Delhi. But BIJOY KUMAR Y took a detour and was seduced
Government today informed Rajya Sabha that it has issued a show cause notice to "Colors" television channel for telecasting obscene visuals in the ongoing reality show "Big Boss 3".
OPEC oil producers gathered in poverty-stricken Angola today said they would hold output firm amid comfortably high prices at their first ever meeting hosted by Africa"s new crude-pumping giant.
Online marketplace eBay India, in association with television channel Star Plus, has started a charity auction of celebrity memorabilia.
The United Nations plans to reduce about 40 per cent of its staff in Pakistan by realigning their deployment due to growing security concerns in the wake of a wave of terrorist attacks across the country.
Linking the Kashmir problem with the Middle East conflict, President Asif Ali Zardari has asked the US to demonstrate "neutrality" and step up efforts to "mediate" on the issue between India and Pakistan.
Exit strategy for stimulus after Q3/Q4 assessment
Nigeria, where Indian companies are exploring possibilities of participating in exploration and production of hydrocarbons, expects its oil production could reach 2.506 million barrels per day next year.
Allaying apprehension about its disinvestment, aluminium giant National Aluminium Company (Nalco) is all set to invest over Rs 25,000 crore to launch new projects and undertake major expansion despite decline in profit due to global recession.
The Tamil Nadu government"s proposed Financial City, aimed at wooing private financial players, is expected to come up on 180-acres at suburban Sholinganallur and Perumbakkam and would initially attract companies involved in banking and insurance accounting operations, Deputy Chief Minister M K Stalin said today.
Economy is likely to grow by 7 per cent or a "little more" in the current fiscal returning to a fast expansion pace after a sluggish 2008 due to the global economic crisis, Prime Minister Manmohan Singh said today.
OPEC oil producers gathered in poverty-stricken Angola today said they would hold output firm amid comfortably high prices at their first ever meeting hosted by Africa"s new crude-pumping giant.
South Korean consumer durables major LG today said it plans to give a push to its LED TV sales by launching more advanced versions of it in 2010 and expects to sell up to 3 lakh units by the end of next year.
Consumer durables major LG Electronics today reported a robust third-quarter performance, with global sales soaring 16 per cent to 13.9 trillion Korean won (about $11.2 billion) as compared to year-ago period.
To win without risk is to triumph without glory.
Shobhana Subramanian & Shyamal Majumdar / Mumbai November 24, 2009, 0:00 IST
Kanika Datta / New Delhi December 1, 2009, 20:41 IST
Global rating agency Moody"s today said large stimulus package provided by the government to perk up the economy and the consequent recovery has set the stage for it to roll back the measures.
ALL ABOUT STOCKS
Upbeat on demand for electric cars, Bangalore-based Reva Electric Car Company will launch two new models globally by early 2011.
Indian banks might meet the Reserve Bank of India’s projection of an 18 per cent growth in credit, K V Kamath, chairman of the country’s second largest lender ICICI Bank said in Mumbai today.
Pharma companies in Andhra Pradesh say they are losing heavily due to the Telengana unrest in the State.
Terming as "most immature and irresponsible" the UPA government"s handling of the Telangana problem, BJP today said the Centre "should apply its mind" to solve the problem.
Base metal prices have gone up by 10-15 per cent in the past one month. Risk taking was low, after the Dubai World crisis and it is now again going up with liquidity flowing towards these metals.
Business Standard / New Delhi December 1, 2009, 0:11 IST
Andhra Pradesh chief minister K Roasiah said the central and state governments had a task to strike a balance between growth and inflation. The three fiscal stimulus packages announced by the central government infused liquidity for maintaining economic growth.
After months of clamouring for help, exporters today said they are happy with the Foreign Trade Policy that has offered them, among others, subsidised credit and help to diversify to new markets.
Less than three months after UK’s luxury automotive brands, Jaguar and Land Rover, introduced their models in India, the company is gearing up to launch its cheapest product, Freelander 2, here on Tuesday.
Tata Motors has entered into an understanding with the Union Bank of India (UBI) to provide an added facility to Tata Motors" dealers for funding of their purchases of the company"s cars and utility vehicles.
After decades of hunt for fortune abroad, India’s pharmaceutical companies now plan to strike gold in their own backyard. Large players from Ranbaxy to Dr Reddy’s and Piramal Healthcare are all headed to rural India to boost their revenues.
Telecom services provider Neotel, which is majority owned by Indian conglomerate Tatas, is expanding its network across South Africa.
The boundary between a television set and a computer is blurring. Consider Zenith Computer-promoted Vu Technologies’ offering, the Intelligent TV, which is a television-cum-PC with a Microsoft Windows operating system (OS).
The Rs 380-crore tender is part of the Accelerated Power Development and Reform Programme of the central govt.
Dell Services, the new entrant into the information technology (IT) services segment (after its acquiring Perot Systems), is gearing its focus on the growing small and medium enterprises (SMEs) market.
Customs duty cut from 7.5% to 2.5%.
India with experience in special economic zones is keen to help Sri Lanka in setting up industrial parks and investment zones at Kilinochchi and Trincomalee in the north and the east, freed from Liberation of Tamil Tigers Elem (LTTE) in May.
Low demand due to high prices will make a dent in India"s gold imports this month which will be down to 10-15 tonnes, experts have said.
Gold prices are likely to surge further this week to rule over Rs 15,000 per 10 grams level amidst a weakening dollar and rising demand ahead of the festival season.
Tata Consultancy Services, a leading IT services, business solutions and outsourcing firm, announced the opening of a new Global Delivery Centre in Buenos Aires, Argentina - the first company to officially inaugurate its facilities in the new Technology District of the city of Buenos Aires.
Tata Group today said the British government has not yet contacted it on the possible options to avoid closure of Corus steel plants in Teeside that could result in 1,700 jobs losses.
Making a strong case for safeguard duty on vital steel imports, the Safeguards Directorate has maintained that cheap inflows from China and other countries is hurting the domestic industry.
Business Standard / New Delhi November 27, 2009, 0:14 IST
The global downturn has taken the wind out of the sails of India"s exports, which fell the most in 14 years in April, by 33.2 per cent, over the same month last year, while domestic slowdown led to imports dropping by 36.6 per cent in the same period.
Tata Consultancy Services (TCS), the country’s largest IT services provider, will use the new data centre — which was set up by the Software Technology Parks of India (STPI) — in Chennai as a disaster recovery for its e-passport service.
Business Standard / New Delhi December 03, 2009, 1:32 IST
The rise of China is India’s only important diplomatic challenge. Relations with Pakistan is in many ways, and for both countries, an extension of domestic politics. Relations with the United States is increasingly mediated by business and civil society interests that circumscribe the role of diplomacy. Relations with the rest of the world, big powers and small, can be handled without too much trouble if the Indian economy continues to grow and offers new opportunities for the flow of goods, services and people.
Car market leader Maruti Suzuki India Limited is testing its cars on the CNG platform before launching them commercially in the next 2-3 years.
Drug maker Glenmark Pharmaceuticals today said its subsidiary Glenmark Generics has filed the draft prospectus with marker regulator Securities and Exchange Board of India (SebiI) for an initial public offer (IPO).
Carnation, the multi-brand car servicing major, today announced plans to roll out its own brand of auto spare parts by mid-2010. “We’ll be launching our own brand of genuine car spare parts,” said Jagdish Khattar, CMD of Carnation, at the formal launch of nine service outlets today.
Ohio Governor Ted Strickland is quick to admit that he doesn’t “particularly enjoy heights”. So why would he climb into a cherry picker to be lifted 40 feet in the air?
The retail sector in Kolkata has adopted a wait and watch situation with retailers still wary of what lies ahead. What started as a big set-back for the retail industry in end-2008 with several malls and retailers shutting shop, the year 2009 was particularly bad for the industry with several cancellations of booked spaces and deferment of sanctioned projects.
Barely a day after Force India’s historic podium finish at the Belgian Grand Prix, a war of words broke out between Sports Minister M S Gill and Vijay Mallya on the government’s refusal to acknowledge Formula One as a sport.
Business Standard / New Delhi September 4, 2009, 0:00 IST
India and Pakistan"s decision to carry on with the dialogue process drew mixed response in Kashmir today with mainstream parties welcoming it and separatists insisting that the Sharm-el-Sheikh meeting was "inconclusive" without the participation of Kashmiris.
In an apparent climbdown, India today agreed with Pakistan"s contention that terrorism should not be linked to the composite dialogue process as Prime Minister Manmohan Singh and his counterpart Yousuf Raza Gilani met here to chart the "way forward" in bilateral ties.
State-run Bharat Sanchar Nigam (BSNL) today said it is in talks with new telecom operators, including Unitech, for sharing its infrastructure with them and a separate division will be created within the firm to oversee its infrastructure sharing business.
The state-owned telecom service provider Bharat Sanchar Nigam Ltd (BSNL) is planning to seek exemption from paying licence fees, stating a clause under the National Telecom Policy of 1999 (NTP ‘99). At present, the company pays around Rs 3,000 crore per annum as licence fee to the exchequer.
The Sensex is exhibiting firmness and is now at 17,708, up 149 points. The NSE Nifty is at 5,280, up 48 points.
The Sensex is exhibiting firmness and is now at 17,708, up 149 points. The NSE Nifty is at 5,280, up 48 points.
Jewellery makers and gold retailers are pulling out all the stops to bring back customers. The sharp rise in gold prices has meant dwindling sales and so discount offers have gone through the roof.
The yellow metal rose Rs 155 on the announcement of RBI’s asset purchase, weak dollar.
Major Russian aircraft manufacturer famous for its fighters, Sukhoi has been listed amongst the most rapidly growing companies of Russia by the Economic News Agency rating.
Anil Ambani group firm Reliance Communications (RCom) today said its telecom tower subsidiary Reliance Infratel has filed the draft prospectus for its initial public offer with market regulator Securities and Exchange Board of India (Sebi).
Anil Dhirubhai Ambani Group (ADAG) company, Reliance Communications, today said its capex would decline significantly starting this year and continue on a downward trend in the future.
Sanjaya Baru / New Delhi October 7, 2009, 0:25 IST
Telecom service provider Tata Communications today said it has launched its new mobile video telephony service for mobile operators and international carrier customers.
Fred Bergsten & Arvind Subramanian / August 22, 2009, 0:01 IST
Godrej Properties Ltd"s public offer, through which the realty developer expects to raise up to Rs 500 crore, got over-subscribed 1.13 times on the first day of issue today.
With seven of the 16 initial public offers (IPOs) launched this year trading below their issue prices, 2009 has been a mixed year for primary market investors.
Global private equity funds Temasek and Sequoia are understood to be advanced stages of finalising a combined investment of close to Rs 200 crore in Bangalore-based realty developer Prestige Estates Projects. This will be part of the pre-IPO placement, which Prestige will be executing ahead of its proposed public offer.
India Inc lines up Rs 1,50,000 crore equity sales
The Committee of Secretaries formed to monitor the turnaround plan of Air India today asked the civil aviation ministry to move a proposal on the financial restructuring of the airline to the Cabinet in consultation with the finance ministry.
After the Bombay Stock Exchange (BSE) Brokers Forum, the Association of National Stock Exchange Members of India (ANMI) has decided to approach the government and the Securities and Exchange Board of India (Sebi) on extension of trading hours from January 4.
Siemens, the German engineering giant, says it plans to expand its green energy portfolio to enable ¤25 billion (approximately Rs 1,74,339 crore) savings globally by 2011, with significant carbon dioxide (CO2) reduction from its products and processes in key markets, including India.
In the last one year, Dubai has lost much of its lustre. The global credit crunch already hit inflows into the emirate, leading to job losses and delayed real estate projects.
Global commodities experienced a steep fall today, as investors and hedge funds across regions unwound their long positions after the news of Dubai’s debt crisis. Most commodities were down today between three and five per cent as the dollar strengthened. In late afternoon trade, however, prices recovered.
Internet company AOL today said it is planning to reduce one-third of its workforce, as part of its cost cutting initiative.
Nasdaq-listed information technology firm Cognizant is set to acquire UBS India Service Centre (UBS ISC), a captive (offshoring centre) of the world’s leading financial firm, UBS, for $75 million (around Rs 350 crore).
The white paper (official position statement) on organisational, operational and financial performance of the railways, presented in Parliament today, busted former railway minister Lalu Prasad’s claims of raking in record profits during his 2004-09 stint.
Lok Sabha was today adjourned minutes after it met for the day as TDP members from coastal Andhra and Rayalseema disrupted proceedings protesting against the announcement for a separate Telangana.
GAIL
Ahmedabad-based Adani Group is looking at increasing the area of its multi-product SEZ at Mundra in Kutch.
Facing complaints from container operators, Indian Railways has decided to come up with a time table, the first of its kind, for freight trains, giving an assured transit time.
The railway ministry is contemplating new policies for land acquisition, including job offers, for the displaced landowners, Railway Minister and Trinamool Congress chief Mamata Banerjee said in the Lok Sabha.
Contrary to expectations of the Trinamool Congress, the Central team today avoided going to violence-hit areas in West Bengal as it had demanded, but submitted a "suggestion" to the government. The "suggestion" handed over to the government by the team despatched by Union Home Minister P Chidambaram at the insistence of the Trinamool Congress, a major ally of the UPA, "might be related to better maintenance of law and order in affected areas", officials said.
The Mayawati government’s decision to ban import of raw sugar into Uttar Pradesh has sent sugar prices soaring. Ex-mill sugar price in the state is at a record high of Rs 3,700 a quintal, up 7-8 per cent from a month ago, though crushing season is on.
Both Nifty and Sensex on Thursday closed in the red on profit-booking and weak global markets. Automobiles, information technology, realty, healthcare and FMCG (fast moving consumer goods) stocks led the fall. The Nifty, as expected, moved in a narrow range, faced resistance above 5,300, and closed at 5,263, down 19 points.
The Department of Telecom (DoT) is considering the Defence Ministry"s demand for an exclusive band of spectrum that will not be put to civilian use like mobile telephony and broadcasting.
Business Standard / New Delhi August 26, 2009, 0:43 IST
The market is in a short-term downtrend and should find support between 5,000 and 5,050.
The benchmark indices in Asia, Europe and the US closed in a Doji pattern last week, signifying indecision among market players. The Nifty closed at 5,117.30 as against its last week’s close of 5,108. The BSE Sensex closed at 17,119 compared to 17,101 a week ago. A Doji pattern is often found at the bottom and top of a trendline and is considered as a sign of possible reversal of direction. In a Doji pattern, the market explores its options either way.
The stock market was volatile and moved in a narrow range during the week. Global cues were mostly subdued, and news flows were largely positive, resulting in limited downsides on weak days. However, the indices failed to give a clear breakout on the upside as well.
Business Standard / July 07, 2009, 3:14 IST
Tata group company, Indian Hotels Company, today posted a 76.56 per cent decline in profit after tax (PAT) at Rs 11.87 crore for the quarter ended September 30, 2009 on account of slowdown in travel trade.
Irda nod to policies with flexible premium, sum assured and tenure.
Quick service restaurant chain Domino"s Pizza is now aiming to tap ready-to-eat pasta market to increase footprints in the estimated Rs 2,500 crore Indian organised food business.
Corporate Affairs Minister Salman Khurshid today opined that India Inc should focus on CSR activities in their own interest.
India Inc today cautiously welcomed the RBI"s move to modify the ECB guidelines and said this also indicates a gradual withdrawal of stimulus measures announced to help the industry tide over the global credit crunch last year.
Business Standard / New Delhi December 06, 2009, 0:44 IST
India Inc has started recognising the risks associated with climate change, with the software and services sector taking the lead in monitoring their emissions and formulating plans for reducing carbon footprint, according to a survey released today.
I am 59 years old and wish to retire in February 2010. I want to create a pension fund and also seek regular tax-free returns from mutual funds. I own a house and don"t have any liabilities.
Despite being the fourth largest economy, India"s per capita emission levels are 70 per cent below world average and 93 per cent lower than those in the US, says a latest report on climate change.
Union Bank of India had restricted investments into mutual funds (MFs) but has not yet exited them, and was in favour of quantitative restrictions on investments by banks, said Executive Director S Raman today.
Vietnam is expected to implement the Indo-ASEAN free trade agreement in the first quarter of 2010, liberalising the $2.13-billion trade with India, a commerce ministry official said.
German firm REpower, in which Suzlon Energy holds 91 per cent stake, has signed an agreement with US-based enXco to supply 70 turbines for a wind farm project by 2011.
A V Rajwade / New Delhi December 07, 2009, 0:32 IST
Move aimed at expediting projects undertaken in collaboration with foreign technology providers
Prices collapsed in settlement week with the Nifty dropping 5.7 per cent to close at 4,711.7 points. The Sensex was down 5.5 per cent, closing at 15,896 points. The Defty was down 6.8 per cent with the dollar bouncing from over-sold levels.
Police notice to Baldotas stayed.
‘Clear the proposal for laying of optical fibre network before Dec 7’.
I had invested in ELSS (equity linked savings scheme) funds one year before, but I have not claimed this investment while filing for return. Can I withdraw from the ELSS, though the three-year lock-in is not complete?
- Policy momentum required - A practical strategy - Rs 11,088 cr floating via chit funds in 3 southern states - Reacting to rumours - MS launches Windows 7, pre-loaded PCs start at Rs 15k - Back on the farm
Amid fears of a debt crisis in Dubai, ICICI Bank today said it does not have any significant exposure to Dubai corporates.
Funds will have to launch products tailor-made for semi-urban, rural markets.
When he took over as the chairman of Union Bank, M V Nair was one of the youngest entrants to the corner office of a public sector bank. So it’s natural that Nair didn’t think twice before rewriting the rules of the recruitment game for his bank.
A local court posted the petition filed by the Central Bureau of Investigation (CBI) asking it to start the hearing in the Satyam case to December 23. The CBI said it was ready to handover the documents to the accused so that the court could begin the hearing of framing of charges.
Mahindra Satyam today said it has selected Malaysia to kick off a new international expansion drive, especially into the Asia-Pacific markets.
By contrast, the fraud enabled Raju’s kin and aides to make hundreds of crores, charges CBI.
Mahindra Satyam, the new brand identity of Satyam Computer Services, has embarked on international expansion and as part of this, is expanding its global solution centre (GSC) operations at its 15-acre campus in Cyberjaya, Malaysia.
JMM chief Shibu Soren was today sworn in as chief minister of Jharkhand for the third time at a ceremony which was skipped by top leaders of coalition partner BJP, and will take a floor test in the Assembly on January 7.
It will be for the third time that Jharkhand will have two deputy chief ministers in its nine-year long political history.
The shareholders of the country"s most valued company Reliance Industries (RIL) today approved the 1:1 bonus issue for which the company fixed November 27, 2009 as the record date.
Auto major General Motors India today said it will commercially launch electric car Spark in October this year which could be priced at around Rs 7 lakh.
A K Bhattacharya / New Delhi December 30, 2009, 0:02 IST
JMM chief Shibu Soren is all set to take oath as chief minister heading a five-party coalition in Jharkhand tomorrow, which will be the seventh dispensation in nine years since it became a separate state.
Encouraged by the outcome of earlier initiatives, the Centre is preparing a roadmap to take the disinvestment process forward over the next two years.
Aditi Phadnis / New Delhi December 06, 2009, 0:23 IST
India’s nuclear power generator, Nuclear Power Corporation (NPCIL) has projected an investment of Rs 1 lakh crore for nuclear capacity addition of 10,000 Mw by 2020. The cumulative funding for these projects would be on a 70:30 debt equity ratio.
Essar Oil has bagged three more coal bed methane (CBM) blocks after a panel of secretaries rejected the bids put in by a consortium led by Deep Industries.
China vs. Iron ore oligopoly: China could fracture the world’s iron ore oligopoly. Three miners – Vale, BHP Billiton and Rio Tinto – control two thirds of international trade. The big producers are consolidating, most notably with a joint production venture between BHP and Rio. China, the world’s largest customer, would like to keep its costs down and its supply assured.
The Fast Moving Consumer Goods (FMCG) sector has emerged as the industry of choice for this year’s management graduates.
The Nifty traded in the positive territory for most part of the day. The index made an intra-day high of 5,167 but closed at 5,103, indicating caution at higher levels. This means the 5,182 level has acted as a strong resistance for the last four days with crucial support remaining at 5,080. It is difficult to predict when the market will move out of the current trading band as indecisiveness has now spread to stocks futures — most traded Nifty components, such as Tata Steel, Reliance Industries, Unitech, DLF, Tata Motors and Suzlon Energy, closed in a Doji pattern today.
The Nifty traded in the positive territory for most part of the day. The index made an intra-day high of 5,167 but closed at 5,103, indicating caution at higher levels. This means the 5,182 level has acted as a strong resistance for the last four days with crucial support remaining at 5,080. It is difficult to predict when the market will move out of the current trading band as indecisiveness has now spread to stocks futures — most traded Nifty components, such as Tata Steel, Reliance Industries, Unitech, DLF, Tata Motors and Suzlon Energy, closed in a Doji pattern today.
- Mastering money making - Don't be bold on gold - Getting rid of government controls - For the risk-takers - High on expectations - Commodity to the rescue
The US Administration will bring a Bill in the Congress to remove the federal cap on intake of medical students, a move that will benefit international students, including those from India, a body of Indian-origin physicians in America has claimed.
Ratan Tata’s recent revelation that his successor could be a foreigner may have been too much for other Indian businessmen to swallow. Few, after all, are ready to turn their business over to a professional to run, let apart a foreigner. Yet, many of them have begun to appoint foreigners in key leadership positions.
Manmohan Singh / January 3, 2010, 0:41 IST
Sunil Jain / New Delhi December 7, 2009, 0:29 IST