TCS, Infosys, Wipro and others planning to reduce onsite work by up to 5%

Dated:December 23,2011


Top Headlines
High Court said it can't allow "parallel canvassing" when Parliament is seized with debate on Lokpal Bill and questioned its decision to seek exemption.

India's plan to give foreign supermarkets access to its retail industry is still a government priority and has not been shelved.

FIC's recommendations would be tabled before EPFO apex decision making body, the CBT, headed by labour minister for taking a final call.

Market Round-up
SENSEX 15738.70 -74.66
NIFTY 4714.00 -19.85
NASDAQ 2141.54 17.78
DJIA 10060.06 19.61
RS/$ 46.79 -0.14

NSE Gainers
Scrip Price(Rs.) %Change
KDL Biotech Ltd.
4.55 + 22.97
OM Metals Infraprojects L
25.30 + 19.91
Kaushalya Infrastructure
6.10 + 19.61
Kamat Hotels (India) Ltd.
103.40 + 19.26
Lloyds Steel Industries L
8.20 + 18.84

NSE Losers
Scrip Price(Rs.) %Change
Piramal Life Sciences Ltd
7.55 -92.45
First Winner Industries L
13.55 -11.15
Creative Eye Ltd.
3.50 -10.26
Krishna Engineering Works
2.20 -10.20
Visu International Ltd.
1.35 -10.00

Most Read Story
India's top outsourcing firms plan to reduce the amount of work performed onsite by their staff travelling on temporary visas in the US.

Most E-mailed Story
While CTC is fixed by the employer, employees are given a free hand to decide on which components they would like to have as part of the salary.


Most Commented Story
Hazare on Wednesday criticized the Centre's move to ensure Lokpal did not have control over CBI, saying the govt was "cheating" people to protect "corrupt" ministers .


Latest Updates


Lokpal Bill Introduced In Parliament; Sensex Gains For The Second Day, Up 128 Pts; Food Inflation Falls To 4-Year Low At 1.81%

Thursday, Dec 22, 2011

NEW LOKPAL BILL INTRODUCED IN THE PARLIAMENT  
The Congress-led UPA government introduced the Lokpal Bill, 2011 in the Lok Sabha amidst uproar. The long discussed Bill envisages the setting up of an ombudsman to check corruption in the country and bring the Prime Minister under its ambit. But, the Leader of Opposition in LS and BJP MP Sushma Swaraj objected to the provision of providing reservation for the minority community in the anti-corruption legislation. Team Anna rejected the Lokpal Bill describing it as "anti-people and dangerous". Team Anna member Arvind Kejriwal said "It is worse than the Lokpal Bill introduced in August. We reject the (new) Bill, withdraw it and introduce it after redrafting it." They are now demanding that a new Bill be brought in Parliament that will make CBI independent and decentralise the proposed anti-corruption body. read more  
LEAD STORIES
SENSEX REBOUNDS 128 PTS ON SHORTCOVERING, EURO CUES  
After more than 200 points fall, the Sensex rebounded in the afternoon trade. The Nifty was up 40.70 points, to end at 4,733.85. read more
FOOD INFLATION PLUNGES TO 4-YEAR LOW OF 1.81%  
Food inflation fell sharply to a near four-year low of 1.81% for the week ended December 10 as prices of essential items declined. read more
GOVT TO BORROW 9.6 BN BY PLEDGING ASSETS  
Govt plans to borrow up to 500 billion rupees by pledging property and shares to bridge the government's budget deficit. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 15813.36 +128.15
NSE 4733.85 +40.7
TURNOVER
Rs. 165,632 cr
BSE CASH
Rs. 2,003 cr
NSE CASH
Rs. 9,672 cr
NSE F&O
Rs. 153,957 cr
BULLION
GOLD 27690 -119
SILVER 52953 -195
CRUDE
NYMEX 99.41 +0.74
BRENT 107.97 +0.26
FOREX
$ / Re 52.73 +0.23
£ / Re 82.383 +0.11
€ / Re 68.491 +0.01
EVENTS

23 December
The 106th Annual General Meeting By PHD Chamber, New Delhi


6 January
Veerappa Moily, Corporate Affairs Minister To Preside Over Interactive Session On "The Transformation From Greed To Good: Changing Dimensions Of Corporate Governance", Taj Mahal Hotel, New Delhi

EXPERT VIEWS

"Sonia Gandhi says the bill is strong. If it is so, let she come out and debate with us in front of media. Let people see it. Convince the people of the country that it is strong. We will explain how it is not strong"

Anna Hazare
Anti-Corruption Crusader
Challenges before the RBI is to balance growth and inflation. Previously (GDP) growth was at 9% and we hoped that it may cross 10 per cent previously. But due to various factors, RBI projected it will be 8%. But finally in the recent review it is projected to 7.6%."

Dr D Subbarao
RBI Governor
"How can five people (Team Anna) challenge the Parliament, which is supreme. CBI should not be given to Lokpal in any case. Not many have studied the bill. Why media is included in this bill. Country will not forgive us if we accept this bill in this format. The Prime Minister is leader of country. If many cases are running against him under Lokpal, world will not accept him with dignity."

Lalu Prasad Yadav
Chief, RJD

WATCH OUT  
The Firm - Companies Bill Special  
More 'INDEPENDENT' DIRECTORS? More 'SCEPTICAL' AUDITORS? More SHAREHOLDER 'DEMOCRACY'? The Companies Bill, 2011 goes a long way in trying to raise India Inc's corporate governance standards...but has it gone too far? Watch Nawshir Mirza, Mohandas Pai and Bharat Vasani in a spirited debate on this special edition of The Firm.
SHOW TIMINGS
Fri 10:30 pm
IBU Mobile version India Business Update

INDIA BUSINESS UPDATE - Market Falls For 5th Day, Sensex Down 204 Pts; PM Okays Draft Lokpal

Tuesday, Dec 20, 2011

MKT FALLS FOR 5TH DAY; NIFTY HITS 28-MTH LOW  
The market closed at 28-month low on Tuesday after it broke the important technical level of 4550. The fall in index heavyweights in the last hour of trade -- and even considering fall over 1000 points on Sensex since last week -- had investors running for cover. Moreover, today's fall was despite not-so-bad global markets. The Sensex fell 204.26 points, to close at 15,175.08. The Nifty touched an intra-day low of 4,531.15, before ending down 68.90 points at 4,544.20. Its August 21, 2009 closing level was 4,528.80. It was clear that bears have taken over the Street and have set up camp for good. read more  
PM OKAYS LOKPAL DRAFT, TEAM ANNA REJECTS IT  
Prime Minister Manmohan Singh cleared the draft of the Lokpal Bill on Tuesday according to which the anti-corruption body can supervise only those cases of corruption that are referred to it. The draft accessed by CNN-IBN reveals that the PM, Leader of Opposition and the Chief Justice of India will choose the Lokpal. The proceedings to remove the Lokpal can be initiated if 100 MPs back it. The Lokpal Bill will be tabled in Parliament on December 27, with the Winter Session being extended till December 29 to pass the anti-graft law. read more  
TOP STORIES
TOP VIDEOS
AT A GLANCE
BSE 15175.08 -204.26
NSE 4544.2 -68.9
TURNOVER
Rs. 148,464 cr
BSE CASH
Rs. 1,830 cr
NSE CASH
Rs. 9,450 cr
NSE F&O
Rs. 137,183 cr
BULLION
GOLD 27860 +168
SILVER 53416 +455
CRUDE
NYMEX 96.96 +2.91
BRENT 106.44 +2.8
FOREX
$ / Re 52.87 +0.07
£ / Re 82.696 +1.01
€ / Re 69.245 +0.75
EVENTS
21 December
'The Third M Visvesvaraya Memorial Lecture 2011' To Be Delivered By Dr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission At Cuffe Parade, Mumbai
'National Seminar on Energy Security' Organized By FICCI, New Delhi
Anand Sinha, Deputy Governor, RBI To Deliver Keynote Address On "Emerging Paradigm of Accountancy Profession", ICAI, Muscat
22 December
India Healthcare Awards, Taj Palace, New Delhi
23 December
The 106th Annual General Meeting By PHD Chamber, New Delhi

EXPERT VIEWS
"The slower-than-expected growth this year could be attributed to global slowdown, which has resulted in slowing down of growth rate in many countries, including India, as well as to tight monetary policy to control inflation."

Namo Narain Meena
Minister Of State For Finance
"Well, I think the very fact that we need a Lokpal is an indictment of our entire apparatus. It means that our institutions are failing. It means that our institutions are being pressurised. That is a serious issue. You do not need a Lokpal when equality under the law is the mandate. It is sad to see that we have to create new institutions to foster higher accountability."

Gopal Subramaniam
Former Solicitor General Of India
"I can only express satisfaction that the Dear Leader (King Jong IL) is joining the likes of Gaddafi, bin Laden, Hitler and Stalin in a warm corner of hell."

John McCain
U.S. Senator
WATCH OUT  
Young Turks Dream Decade  
We bring you the finale of special series on the F&B business in India. Catch Sanjay Mahtani of the JSM Corporation, master franchisee of the iconic HardRock brand in India. Also on the show catch the story of Chai Point and Tapri, as they cash in on India's love for chai. Also meet Gaurav Goenka, the MD of the 150 Cr venture, Mirah Hospitality that's brought the Manchester United Café Bar to India.
SHOW TIMINGS
Wed 7 pm


IBU Mobile version India Business Update

Sensex ends 112 points lower; L&T, BHEL, DLF, SBI down

Dated:19 December,2011

Top Headlines
Sensex bounced back and closed near psychological support levels as buying activity emerged at lower levels in frontline stocks.

No fundamental basis for rupee being at these levels, but it shows lack of confidence in economic management, says Jim Walker, Asianomics.

Even if the market recovers, a few things will drive financial services, higher capital adequacy and stronger govt regulation, etc.

Market Round-up
SENSEX 15379.34 -112.01
NIFTY 4613.10 -38.50
NASDAQ 2141.54 17.78
DJIA 10060.06 19.61
RS/$ 46.79 -0.14

NSE Gainers
Scrip Price(Rs.) %Change
J D Orgochem Ltd.
5.40 + 61.19
Andhra Cements Ltd.
11.35 + 24.73
Mangalam Timber Products
21.55 + 11.08
Aplab Ltd.
29.00 + 10.69
Arvind Remedies Ltd.
2.15 + 10.26

NSE Losers
Scrip Price(Rs.) %Change
GSS Infotech Ltd.
94.40 -20.00
STEL Holdings Ltd.
8.80 -20.00
Century Enka Ltd.
89.45 -18.72
Nicco Corporation Ltd.
1.60 -17.95
Coromandel Engineering Co
189.55 -17.55

Views on Stocks/Markets

IPO/Global Markets

Rupee / Gold

More 'Market' News




Bharti Ends Talks With RIL To Sell Insurance JVs Stake; Sensex Falls 163 Pts On EU Fears

Friday, Nov 25, 2011

LEAD STORIES
BHARTI ENDS TALKS WITH RIL TO SELL INSURANCE JVs STAKE  
Bharti Enterprises said it has mutually agreed to terminate negotiations with RIL to sell its stake in two insurance JVs that it has with France's AXA read more
SENSEX FALLS 163 PTS ON EUROPEAN UNION FEARS  
Weak investor confidence globally saw heavy selling in oil & gas, technology, auto and metals counters. Nifty fell 46.40 pts to 4710.05. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 15695.43 -163.06
NSE 4710.05 -46.4
TURNOVER
Rs. 97,718 cr
BSE CASH
Rs. 2,113 cr
NSE CASH
Rs. 9,896 cr
NSE F&O
Rs. 85,709 cr
BULLION
GOLD 28367 -182
SILVER 54415 -836
CRUDE
NYMEX 95.95 -0.22
BRENT 106.63 -1.15
FOREX
$ / Re 52.25 +0.19
£ / Re 80.862 +0.21
€ / Re 69.173 -0.31
EVENTS

26 November
Prime Minister M To Meet Airlines Chiefs, New Delhi
Symposium On International Commercial Arbitration, Marriott, Ahmedabad
International Business Conference On 'The Role Of Islamic Banking For Infrastrucural Growth Of India', Hotel Hyatt Regency, Mumbai


28 November
2G Case: Kanimozhi's Bail Plea To Be Heard At The Delhi High Court


3 December
CII CFO Summit 2011, Taj President-Vivanta, Mumbai


8-11 December
The INK Conference In Association With TED, Jaipur

EXPERT VIEWS

"Allowing foreign direct investment in multi-brand retail is important for India's overall economic growth and in controlling inflation."

D. Subbarao
Governor, Reserve Bank Of India
"The changes in the bidding guidelines sought by power producers include the fuel availability risk of domestic coal, the price risk due to change in prices of the fuel in coal-exporting countries, delay or denial in environment and forest clearance pertaining to coal blocks, etc."

KC Venugopal
Minister Of State For Power
"The fact remains that we are not insulated, whatever happens in euro zone affects us too. In the last few days, foreign institutional investors have been withdrawing and that's been having an effect on the rupee."

R. Gopalan
Secretary, Dept Of Economic Affairs

WATCH OUT  
Capitalism in Crisis  
This week we ask why the western model of capitalism is at a cross roads. Klaus Schwab of the World Economic Forum, billionaire investor Warren Buffett, Richard Levin, President, Yale University, Stuart Hart, Co-Author of Fortune at the Bottom of the Pyramid and Arun Maira of the Planning Commission, help us dissect the symptoms and understand the cause of the problem. We also ask business leaders Wim Elfrink of Cisco, B Muthuraman of Tata Steel, Adi Godrej and Anu Aga what conscious capitalism is all about.
SHOW TIMINGS
Sat 9:30 pm
Sun 9:00 pm
IBU Mobile version India Business Update