INDIA BUSINESS UPDATE - Cabinet Reshuffle Tomorrow; Sensex Up 209 Pts; Lavasa Gets Conditional Clearance

Tuesday, Jan 18, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version CABINET RESHUFFLE AT 5 PM TOMORROW The two-hour meeting between Sonia Gandhi and the Prime Minister this morning was to give a final touch to the cabinet reshuffle which is expected to take place on Wednesday, January 19 around 5 pm. The PM, it is learnt, is keen to induct younger faces however his party is divided on the extent of change. read more UNSAVOURY QUESTIONS AWAIT INDIA INC AT DAVOS About 125 Indian CEOs and five senior ministers travelling next week to Davos for the World Economic Forum annual meet will have to answer some unsavoury questions about corruption and "governance deficit" in India. "I don't think we can hide anywhere...There will be a lot of questions on governance, which will be asked (at Davos)," CII President Hari Bhartia said. read more LEAD STORIES SENSEX GAINS FOR 2ND DAY; UP 209 PTS Sensex rose by 209.80 points to close at 19,092.05 after impressive Q3 results and firm global trend. Nifty gained 69.30 points to close at 5,724.05. read more ANAND SHARMA SIGNALS OPPOSITION TO RATE HIKE Commerce minister Anand Sharma, in a letter to the FM, has said that the monetary policy may not be the right tool to fight high food inflation. read more LAVASA GETS CONDITIONAL CLEARANCE Environment ministry said it could consider the Lavasa project on conditions that included a penalty payment and setting up of a restoration fund. read more TOP STORIES • RBI warns investors against Sahara India deposits • Vedanta applies afresh to MoEF for Orissa project • Swan Telecom, Anil Ambani given clean chit • Vodafone objects Essar Telecom's reverse listing • Infosys to appeal against tax demand on onshore work • Tata Steel FPO anchor book subscribed nearly 8 times • Essar Energy launches $500 mn convertible bond issue • Pearson buys 59% more in TutorVista for Rs 577 cr • RComm raises $255 mn to refinance 3G spectrum fee • Tatas to set up 3 projs in Aerospace SEZ for Rs 1,000 cr • Q3 nos will be hit if revenue loss not paid: IOC • GAIL posts Q3 net up 13% at Rs 967.6 cr • Citigroup posts $1.3 bn quarterly profit • Oil firms to give Rs 5,000 cr in retail discount • Domestic air traffic highest in Oct-Dec; IndiGo pips AI • Withdraw cash with ICICI card at merchant outlets • BJP demands declaration of Indian Swiss a/c holders • Facebook shares only for non-US investors: Goldman • Indians amongst top 10 Asian buyers in pricey London • Robert De Niro's Golden Globe trophy breaks more stories TOP VIDEOS For The Industry, 2011-12 Will Be A Better Year: N Chandrasekhar, MD & CEO, TCS Q1 Difficult For India, Flows Shifting From EMs: Adrian Mowat, Chief Asian & Emerging Equity Strategist, JP Morgan AT A GLANCE BSE 19092.05 +209.8 NSE 5724.05 +69.3 TURNOVER Rs. 137,386 cr BSE CASH Rs. 3,000 cr NSE CASH Rs. 11,436 cr NSE F&O Rs. 122,949 cr BULLION GOLD 20391 +99 SILVER 44325 +615 CRUDE WTI 90.71 -0.83 BRENT 4398.65 -42.33 FOREX $ / Re 45.42 -0.09 £ / Re 72.724 +0.54 € / Re 60.841 +0.46 EVENTS 19-20 January 5th Annual Conference On Airport Development & Modernisation, The Imperial, New Delhi 19-22 January India Rubber Expo 2011, Chennai 19 January Pranab Mukerjee, State Finance Ministers Meet To Discuss Inflation 20 January CII Session With South Korean Minister, Taj Mansingh, New Delhi 20 January All India Management Association's 51st Foundation Day, Hotel Le-Meridien, New Delhi 20-22 January Future Of Financial Markets 2011, Leadership Summit, Renaissance, Mumbai EXPERT VIEWS "UPA Government should, without any hesitation, make public names of all those who have stashed black money in Swiss Bank accounts." Nitin Gadkari BJP President "It is a practice of your (Finance) ministry that while preparing the union budget you consult with many organisations. What is the reason that the agricultural sector, which provides employment to more than 60% of the population, is not being consulted by you." Atul Kumar Anjan All India Kisan Sabha General Secretary "The high inflation in primary articles, particularly vegetables is more on account of supply side constraints and monetary policy may not be the most suitable intervention to deal with the situation." Anand Sharma Commerce And Industry Minister WATCH OUT Young Turks: Ideas Without Boundaries At the India Business Leader Awards this year, Virendra Mhaiskar, the young entrepreneur behind IRB infrastructure was awarded the Young Turk of the Year. Catch him as he shares his journey and his strategy to take his company forward. We also revisit our Young Turk from 2006, Vineet Bajpai as he prepares for the launch of his second book: The Street to the Highway. SHOW TIMINGS Wednesday 7 pm CNBC-TV18 PROGRAMME SCHEDULE STOCKS & INVESTING INDIA EARNINGS PORTFOLIO