INDIA BUSINESS UPDATE - PAC Summons Tata, Niira Radia, Anil Ambani; Tepid Response To NELP-IX; Sensex Up 127 Pts

Monday, Mar 28, 2011 Click here for India Business Update Mobile Version LEAD STORIES PAC SUMMONS RATAN TATA, NIIRA RADIA, ANIL AMBANI The Public Accounts Committee has summoned Ratan Tata, Niira Radia, Anil Ambani, Vivek Goenka and Siva Sankaran to appear before it on April 4 and 5. read more NELP IX: TEPID RESPONSE, GLOBAL MAJORS STAY AWAY Government received 74 bids for 33 oil and gas exploration blocks on offer. Most global majors continued to shun the country's energy sector. read more SENSEX UP 127 PTS ON EASING OIL PRICES Sensex climbed to 18,943.14 points, on buying in blue-chips led by banking and a drop in crude oil prices. Nifty rose 33 points to end at 5,687.25. read more TOP STORIES • SC flays govt for not probing black money abroad • DB Realty director Sundaram Rajagopal quits • Fake pilot scam: Lookout notice issued against 4 • Military cooperation key to Indo-U.S. ties: Wikileaks • SEBI approves iGate's $1.22 bn Patni takeover deal • Rupee snaps 6-day winning streak, falls 16 paise • R-Infra announces Rs 1,000 cr share buyback offer • ICICI Bank may sell its stake in Firstsource by Dec • Don't list in U.S., UK: BK Modi to India Inc • Sibal seeks assistance of PM, FM for loans to telcos • Final decision on 2G spectrum pricing within 3 mths • Private FM radio allowed to 'AIR' news • Employees stall Ambalal Sarabhai AGM • Bhaskar Pramanik is Microsoft India's new chairman • Banking licence draft guideline in the next few days • Domestic wine industry seen at Rs 2.7K cr: Assocham • Audi India launches Q5 2.0 TDI quattro at Rs 39 lakh • Tiger population rises to 1,706 from 1,411 • Pfizer recalls two drugs in US on labelling error • Radiation leak found outside Japan nuclear reactor more stories TOP VIDEOS Innovation Of The Private Sector Combined With A Little Bit Catalytic Philanthropy And Reasonable Governance Is A Great Formula For The Next Step Towards Healthcare: Bill & Melinda Gates Good Dictatorship Is Better Than Bad Democracy: Pervez Musharraf, Former Pakistan President We Developed A System Which Was Delinked From Collateral, Which Was Separating Vast Majority Of People From The Banking System: Muhammad Yunus, Founder, Grameen Bank Inflation, Asset Bubble Key Concerns In Emerging Markets: Russell Napier, Strategist, CLSA AT A GLANCE BSE 18943.14 +127.5 NSE 5687.25 +33 TURNOVER Rs. 175,054 cr BSE CASH Rs. 3,123 cr NSE CASH Rs. 12,317 cr NSE F&O Rs. 159,613 cr BULLION GOLD 20684 -145 SILVER 55042 -436 CRUDE NYMEX 102.25 -0.08 BRENT 115.22 -0.37 FOREX $ / Re 44.81 +0.13 £ / Re 71.736 +0.35 € / Re 63.146 +0.45 EVENTS 30 March FICCI's Interactive Session 31March- 1April 11th CII Annual Marketing Summit 2011, Intercontinental The Lalit, Mumbai 1 April 4th International Conference On Cyber & Network Security, The Oberoi, New Delhi 5 April FSLRC Panel To Meet 14-16 April 9th Conference & Interactive Workshop On Sucessful EPC Contracting In India: Addressing Fiscal & Challenges 18-19 April 2nd Annual Conference On Data Centres For Infrastructure Sectors, Hyatt Regency, New Delhi EXPERT VIEWS "Today, we still have corporations looking for listing on New York and the United Kingdom, but it is an opportunity missed by Asian exchanges such as Singapore...Economic colonialisation should not take place." BK Modi Founder & Chairman, Spice Group "No further information is coming out (from black money case). Only one individual (Hasan Ali) is there. What about others? It is very difficult to be calm and quiet after seeing the status report. Why all these agencies were sleeping since 2008? Why it moved when we stepped in? If writ petition had not been filed, nothing would have happened." Justices B Sudershan Reddy & SS Nijjar Supreme Court "In a short time private FM (radio) channels will be able to carry news as these channels will be allowed to broadcast news bulletins of the All India Radio, unaltered...AIR will monetise this initiative." Rajiv Takru Additional Secretary, I & B Ministry WATCH OUT Storyboard On Storyboard this week, the 12th FICCI Frames summit showcases a resurgent Media & Entertainment industry, as it is set to touch Rs. 1275 bn by 2015. Nine Indian companies make it to Brand Finance's global 500 list and why global cookie brands have Indian biscuit manufacturers in a tizzy? SHOW TIMINGS Tue 7:30 pm