INDIA BUSINESS UPDATE - Rupee, Gold & Silver Hit New Highs; Setback To Cairn-Vedanta Deal, Referred To GoM; Sensex Down 74 Pts

Wednesday, Apr 06, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version HAZARE WRITES TO PM, TELLS NOT TO MISLEAD NATION Anna Hazare has written an open letter to Prime Minister Manmohan Singh asking him not to mislead the nation. "You have said that the Government has initiated certain processes. Some of the people drafting the legislation should have been in jail. Should I have faith in these processes? If you were in my place, would you still have faith in these processes?" he asked. read more LEAD STORIES RUPEE, GOLD, SILVER HIT NEW HIGHS Rupee rose to a near 6-month high of 44.17/$. Silver hit another 31-year peak at $39.59 an ounce. Gold futures rallied above $1,460 an ounce. read more SETBACK TO CAIRN-VEDANTA DEAL, REFERRED TO GoM Jaipal Reddy said that government has referred the Cairn-Vedanta deal to a panel of ministers to be headed by the finance minister. read more SENSEX DOWN 74 PTS IN VOLATILE TRADE Sensex fell to 19,612.20 points on concerns that inflation and interest rates could hit Q4 results. Nifty closed at 5,891.75 down 18.30 points. read more TOP STORIES • Govt moots BSNL merger with MTNL, ITI • Genpact to buy Headstrong for $550 mn • SC notice to Centre in Lilavati money laundering case • New M&A regime will not derail plans: CCI to industry • India Inc for review of RBI's rate tightening policy • SC orders status quo on I-T demand from Satyam • Govt open to suggestions on Lokpal Bill: Law Min • SBI, ICICI Bank pick up about 11% stake in Kingfisher • NTPC Q4 net up 24% to Rs 2,505 cr • DoT termination notices to Aircel, Etisalat • Venkateshwara Hatcheries buys stake in music co • M&M opens 'First Choice 2S Superstore' • Maruti to recall 13,157 Swift, Ritz diesel models • Luxury car Maserati drives into India at Rs 1.2 cr • Fake pilot licence scam: 2 DGCA officials held • Cisco chief vows to restore "flawed" company • Rio Tinto reaches 47% holding target in Riversdale • Inflation a threat to sustained Asian recovery: ADB • Royal Mail's new postal stamp to honour Subrata Roy • India's rich to spend on yachts, jets, not philanthropy more stories TOP VIDEOS Growth Is Not Going Away In Any Emerging Markets Even With Higher Interest Rates: Emil Wolter, Head Of Regional Asian Equity Strategist, RBS Buffett Greatest PR Person Of Modern Times: Michael Steinhardt, Chairman, WisdomTree Investments Seeing Higher Prices, Also Growing Volumes And Margins...It Is A Nice Combination For The Financial Community: John Watson, CEO, Chevron AT A GLANCE BSE 19612.2 -74.62 NSE 5891.75 -18.3 TURNOVER Rs. 121,907 cr BSE CASH Rs. 3,882 cr NSE CASH Rs. 14,554 cr NSE F&O Rs. 103,471 cr BULLION GOLD 21205 +43 SILVER 58076 +549 CRUDE NYMEX 102.25 -0.08 BRENT 122.94 +0.72 FOREX $ / Re 44.08 -0.34 £ / Re 71.89 -0.23 € / Re 63.078 +0.11 EVENTS 8 April CII Conference - Securing The Future: Framework For Inclusive Growth, Taj Palace, New Delhi 8 April iGate Open Offer For Patni Shares 9 April 3rd Round Table On Luxury Business, Taj Mahal, Mumbai 11 April Sesa Goa's Open Offer For Cairn India Shares 15 April March WPI Inflation Data To Be Released 15 April Infosys To Announce Q4 Results EXPERT VIEWS "Instead of solving the issue of corruption, Government is more bothered about speculating on our movement. I am not a child...I take suggestion from my colleague, but make my own decision. We were not getting any response from the Prime Minister and Sonia Gandhi...that's why I decided to go on fast-unto-death." Anna Hazare Social Activist "...we cannot find a replacement for (Ratan) Tata...We may have to change and re-arrange the model in terms of what we are looking for. We are now considering people from within the group and outside, including expatriates who can fill the role we have in mind. There are challenges but we will soon come to a conclusion." RK Krishna Kumar Member Of Search Committee, Tata Group "I will be happy if you relieve me from all GoMs, including that GoM (on corruption)." Sharad Pawar Agriculture Minister WATCH OUT India Tonight Karan Thapar, India's leading commentator and columnists leads a power packed current affairs show. Focusing on the big story of the day, India Tonight cuts through the clamor and goes beyond the hype to the real story behind the headlines, from all perspectives. SHOW TIMINGS Mon - Thur 10:30 pm