INDIA BUSINESS UPDATE - Shivraj Patil Report Names A Raja For Lapses In 2G Spectrum Allocation; Conditional Clearance For Posco`s $12 Bn Orissa Plant; Sensex Falls 68 Pts

Monday, Jan 31, 2011 Click here for India Business Update Mobile Version LEAD STORIES 2G SCAM: PATIL REPORT NAMES A RAJA FOR LAPSES The committee of Justice Shivraj Patil names A Raja, Sidhartha Behura, RK Chandolia for procedural lapses along with other DoT officers. read more CONDITIONAL GREEN CLEARANCE FOR POSCO'S $12 BN PLANT After 5 years, the environment ministry has cleared the steel and captive power plant with 28 conditions and the port with 32 conditions. read more SENSEX FALLS 68 PTS; PARES INTRA-DAY LOSSES Sensex recovered 300 points to end at 18327.76 as global markets remained depressed over the Egyptian crisis. Nifty ended at 5505.9, down 6.25 points. read more TOP STORIES • Govt revises FY10 GDP growth to 8% from 7.4% • India's per capita income up 14.5% to Rs 46,492 • Egypt unrest: Oil hits 28-mth high, stocks fall • 2G scam: CBI seeks details of telcos' bank a/c • HC refuses to revoke order against Tirupur unit closure • Outlook opposes Tata petition on Radia tapes • CBI suspects bank fraud in Zoom Developers • Core infrastructure output up 6.6% in Dec • Rupee tumbles to 2-month low of 45.90/$ • Oil PSUs hike jet fuel prices by 4.5% • Govt grants addl Rs 8,000 cr subsidy for fuel retailers • Deadline for checking pesky calls pushed to March 1 • Govt can get Rs 90,000 cr from addl 2G spectrum sale • Siemens AG plans to raise stake in Indian arm to 75% • Would have offered just Rs 310 per Cairn share: ONGC • Shree Cement Q3 net dips 83.5% to Rs 27.5 cr • Aditya Birla to buy Columbian Chemicals for $875 mn • Hazarika interim chief of ONGC, Narasimhan of IOC • Extra security layer for phone banking from Feb 1 • Bharti, Google join hands to promote rural education more stories TOP VIDEOS There Were Fears That There Might Be A Double Dip And Those Fears Are Now Receding: YC Deveshwar, Chairman, ITC India Is The Second Worst Performing Market In January After Egypt: Atul Suri, Technical Analyst & Trader < /td> Inflation Will Continue To Be An Issue As Long As There Are Supply Side Bottlenecks And Infrastructure Development Is Slow: Punita Kumar Sinha, Senior MD, Blackstone Group Strong Dollar To Limit FII Flows To India: Clive McDonnell, Head - Equity Strategy, BNP Paribas AT A GLANCE BSE 18327.76 -68.21 NSE 5505.9 -6.25 TURNOVER Rs. 138,156 cr BSE CASH Rs. 3,541 cr NSE CASH Rs. 14,294 cr NSE F&O Rs. 120,321 cr BULLION GOLD 19799 -128 SILVER 42969 -30 CRUDE WTI 88.59 -0.75 BRENT 4546.63 -23.17 FOREX $ / Re 45.85 -0.05 £ / Re 72.984 +0.49 € / Re 62.815 +0.64 EVENTS 1-2 February 8th Annual Conference On Ports In India, Grand Hyatt, Mumbai 2 February CII National Retail Summit 2011 " Modern Retail: Driving Inclusive & profitable Growth", Taj Lands End, Mumbai 3 February Assocham 2nd International Coal Conference- Securing Future Needs, The Park, New Delhi 3 February Conference On Excellence In Diagonostic Care "Creating A Value Chain To Deliver An Excellent Customer Experience", India Habitat Centre, New Delhi 3 February 2nd Coal Conference, The Park, New Delhi 4 February Foreign Investment Promotion Board Meet 3-4 February Conference On Infrastructure: The Global Growth Driver, Taj Bengal, Kolkata 8-9 February 4th Annual Conference On Renewable Energy In India, The Imperial, New Delhi EXPERT VIEWS "Environmental clearance for the steel-cum-captive power plant is being accorded with 28 additional conditions over and above stipulated in the original environmental clearance of July 19, 2007. The environmental clearance for the captive port is being accorded with 32 additional conditions over and above stipulated in the original environmental clearance of May 15, 2007." Jairam Ramesh Union Environment Minister "I have stuck to my mandate and terms of reference. The terms were to look at procedures and lapses in procedures." Justice Shivraj Patil Retired SC Judge "The growth rate of 8% in the GDP during 2009-10 has been achieved due to high growth in manufacturing (8.8%), financing, insurance, real estate & business services (9.2%), transport, storage and communication (15%), community, social and personal services (11.8%)." Government Data WATCH OUT Overdrive This week, we have action on 2 & 4 wheels as resident biker Shubhabrata Marmar rides Ducati's Monster 796 & Multistrada at the Chennai racetrack & we roadtest the Thar, Mahindra's latest lifestyle offroader. Also catch auto selector with Overdrive Editor Sirish Chandran & all the latest news & happenings from the auto world. SHOW TIMINGS Tuesday 6:30 pm CNBC-TV18 PROGRAMME SCHEDULE STOCKS & INVESTING INDIA EARNINGS PORTFOLIO

The Economic Times Markets Watch Newsletter

	Dated:31 January,2011

Top Headlines Sensex ends above 18300; capital goods, power up Benchmarks pulled back sharply, aided by short coverings, in the last half and hour of trade and ended modestly lower. Are there really no buyers in the stock market? What people actually mean by there being no buyers is that sellers are unable to find buyers at prices they'd want and that prices are led by sellers 7 buyers. FII stocks, bond investments at Rs 79,000 cr in 2011 so far Overseas investors have been gross sellers of equities worth Rs 4,220.80 cr in 2011, but were bullish about debt mkt, making a net investment of Rs 10,730.40 cr. Views on Stocks/Markets Buy blue chips like Maruti: Rajat Bose Jain Irrigation plunges over 10% on weak results What to buy now amongst large-caps IPO/Global Markets FTSE down 1 per cent Egypt to impact world markets Nikkei hits 1-month closing low Rupee / Gold Gold eases on Egypt report Rupee hovers near 2-month low Gold recovers from 13-wk low More 'Market' News Markets to correct more: Barclays Wealth Manpreet Gill, Asia Strategist, Barclays Wealth, analyses the factors playing up the volatility in India & emerging markets. What should RPower's millions of investors do Oversubscription of 73%, prospects of 100% listing gains...the hype over Reliance Power IPO drew in a record number of investors, only to book losses. Auto, cement sectors to reflect rate hike impact A lot of small- and mid-cap stocks have dipped more than 50% from their peaks and even at these low levels there is no buying support.

Market Round-up SENSEX 18327.76 -68.21 NIFTY 5505.90 -6.25 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change C Mahendra Exports Ltd. 160.30 + 18.65 Shrenuj & Company Ltd. 46.00 + 17.35 Sandesh Ltd. 299.85 + 17.31 Siemens Ltd. 853.95 + 17.30 R S Software (India) Ltd. 43.45 + 12.86 NSE Losers Scrip Price(Rs.) %Change Keynote Corporate Service 56.30 -20.93 Bell Ceramics Ltd. 19.00 -11.63 Simplex Projects Ltd. 190.10 -11.42 Jain Irrigation Systems L 191.25 -10.96 Transwarranty Finance Ltd 17.60 -9.97

The Economic Times Daily Newsletter

	Dated:January 31,2011

Top Headlines MindTree Exec Chairman Soota resigns; to start new venture Soota, who co-founded MindTree in August 1999, cited personal reasons for his resignation from the company and its Board. 2G spectrum: CBI seeks details of telcos' banking transactions Carrying forward its probe into the 2G spectrum scam, the CBI has asked the DoT to provide on "top priority" information about the financial transactions. Employee retention a key challenge for IT, BPO companies: Expert Fidelity National Financial India Country Head Sameer Dhanarajani says IT companies and BPOs are witnessing a major talent crunch. Most Read Story IBM to offer $1,000 Esops to India staff Nearly 100,000 IBM employees are set to receive $1,000 stock bonus each before June 16 - when the company celebrates its 100 years of existence. Most E-mailed Story IBM to offer $1,000 Esops to India staff Nearly 100,000 IBM employees are set to receive $1,000 stock bonus each before June 16 - when the company celebrates its 100 years of existence. Most Commented Story IBM to offer $1,000 Esops to India staff Nearly 100,000 IBM employees are set to receive $1,000 stock bonus each before June 16 - when the company celebrates its 100 years of existence. Latest Updates Bond yields flat-to-higher; supply, cash weigh Infrastructure industries output up 6.6% in Dec Google plans to hire mobile-app experts: Report Siemens to pay 1 bn euro to up stake in Indian arm		Market Round-up SENSEX 18327.76 -68.21 NIFTY 5505.90 -6.25 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change C Mahendra Exports Ltd. 160.30 + 18.65 Shrenuj & Company Ltd. 46.00 + 17.35 Sandesh Ltd. 299.85 + 17.31 Siemens Ltd. 853.95 + 17.30 R S Software (India) Ltd. 43.45 + 12.86 NSE Losers Scrip Price(Rs.) %Change Keynote Corporate Service 56.30 -20.93 Bell Ceramics Ltd. 19.00 -11.63 Simplex Projects Ltd. 190.10 -11.42 Jain Irrigation Systems L 191.25 -10.96 Transwarranty Finance Ltd 17.60 -9.97

The Economic Times Daily Newsletter

	Dated:January 30,2011

Top Headlines India mulls import duty cuts to curb inflation India will consider cutting import duties on more food products if needed to curb high food inflation gripping Asia's third-largest economy, its trade minister said. Repeat customers outnumber Maruti's first-time buyers The first time car buyers may have been driving the growth of Indian car market, but it is the repeat customers who are increasingly adding to the sales numbers. Indian Embassy launches email helpline for duped students in US Indian students, affected by immigration scam of TVU in California, may be allowed in normal course to reapply for studies in US at authorised universities. Most Read Story Sachin Tendulkar strikes Rs 40 cr, two villas in new endorsement deals It must be the greatest start Sachin ever had: earning Rs 1.5 cr a day! In the first 27 days of 2011, he has won Rs 40 cr and two villas in new ad deals. Most E-mailed Story Eight tax saving secrets you should know The Income Tax Act 1961 is a voluminous piece of legislation. Hidden away are clauses that can benefit ordinary taxpayers-provided they know how to claim those benefit. Most Commented Story Indian students in US radio-tagged; angry govt says remove it Students said officials told them the devices, fitted with GPS, were meant track of their movement while the administration examined their cases. Latest Updates Dubai stocks drop over 6% on Egypt concerns India mulls import duty cuts to curb inflation New Google service solves sudoku Carrefour fined for overcharging in China		Market Round-up SENSEX 18395.97 -288.46 NIFTY 5512.15 -92.15 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change Talwalkars Better Value F 232.80 + 9.88 Surana Industries Ltd. 275.00 + 7.00 Bell Ceramics Ltd. 21.50 + 6.17 Genus Power Infrastructur 18.15 + 5.83 I G Petrochemicals Ltd. 33.35 + 5.53 NSE Losers Scrip Price(Rs.) %Change AML Steel Ltd. 23.05 -14.62 Nelcast Ltd. 86.55 -14.22 Logix Microsystems Ltd. 20.60 -12.89 Blue Star Ltd. 346.00 -12.85 Shreyans Industries Ltd. 26.05 -12.58

The Economic Times Daily Newsletter

	Dated:January 29,2011

Top Headlines New telecom policy: Mobile tariffs may go upward Operators like Bharti, Vodafone and Idea, who are holding spectrum beyond 6.2 Mhz, they would have to pay market driven price for the extra airwaves. US Immigration Dept establishes hot line for Tri Valley students Some students who approached us have been placed under ISAP (Intense Supervision and Appearance Program) by ICE and put in removal proceedings. PayPal to restrict e-payment to Indian merchants Starting Mar 1, all balance, future payments in PayPal accounts will have to be transferred to a bank account in India within seven days from the receipt of confirmation from the buyer in respect of goods, services. Most Read Story Sachin Tendulkar strikes Rs 40 cr, two villas in new endorsement deals It must be the greatest start Sachin ever had: earning Rs 1.5 cr a day! In the first 27 days of 2011, he has won Rs 40 cr and two villas in new ad deals. Most E-mailed Story Eight tax saving secrets you should know The Income Tax Act 1961 is a voluminous piece of legislation. Hidden away are clauses that can benefit ordinary taxpayers-provided they know how to claim those benefit. Most Commented Story Panel gives clean chit to BJP, Sangh Parivar in church attacks The Justice Somasekhara Commission of Inquiry into a series of attacks on churches in parts of Karnataka in 2008 has given a "clean chit" to the ruling BJP and Sangh Parivar outfits. Latest Updates Gold, silver spurt on firm global cues Govt pays higher interest on Q3 borrowings BlackBerry knocked out of Top-5 sellers by ZTE Etisalat sees Zain due diligence done by end Feb		Market Round-up SENSEX 18395.97 -288.46 NIFTY 5512.15 -92.15 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change Talwalkars Better Value F 232.80 + 9.88 Surana Industries Ltd. 275.00 + 7.00 Bell Ceramics Ltd. 21.50 + 6.17 Genus Power Infrastructur 18.15 + 5.83 I G Petrochemicals Ltd. 33.35 + 5.53 NSE Losers Scrip Price(Rs.) %Change AML Steel Ltd. 23.05 -14.62 Nelcast Ltd. 86.55 -14.22 Logix Microsystems Ltd. 20.60 -12.89 Blue Star Ltd. 346.00 -12.85 Shreyans Industries Ltd. 26.05 -12.58