INDIA BUSINESS UPDATE - Sensex Up 143 Pts; RBI Credit Policy Tomorrow, Poll Expects 25 Bps Rate Hike; RBI Warns On Sustained Inflation Risk

Monday, Jan 24, 2011 CNBC TV18 EXCLUSIVE Click here for India Business Update Mobile Version CREDIT POLICY POLL: RBI TO HIKE RATES BY 25 BPS According to a poll of bankers and economists, 94% expect RBI to hike repo and reverse repo rates by 25 basis points each. Only a minority 6% expect a larger hike of 50 basis points. 50% of those polled see RBI revising their inflation forecast to 6.5% from 5.5% currently, 25% see it revised to 6-6.5% and only 6% see the RBI's forecast to be above 6.5%. 19% expect no change in the forecast. read more LEAD STORIES RBI MACRO ECO REPORT WARNS ON SUSTAINED INFLATION RISK RBI said inflation may stay high for longer than anticipated due to a rise in global commodities prices and domestic supply side pressures. read more SENSEX ENDS 143 PTS UP ON HIGH Q3 EARNINGS BY BANKS Sensex closed at 19,151.28 points after SBI and ICICI posted strong Q3 results. Nifty rose 46.75 points to settle at 5,743.25. read more TOP STORIES • Average inflation during 2010-11 to jump up to 9%: FM • Court issues bailable warrant against Subrato Roy • Kalmadi sacked as head of CWG panel • Onion prices crash to Rs 13/kg in Maharashtra • Govt to unveil strategy on black money tomorrow • Lavasa execs meet Ramesh, seek 'negotiated solution' • Govt sets 11 preconditions for Vedanta-Cairn deal • Decision on Posco Orissa mill on Jan 31: Ramesh • Sterlite plant gets Tamil Nadu pollution board nod • SAIL FPO: Govt mulls removing 4 bankers • ICICI Bank Q3 net up 77.5% to Rs 2,039 cr • Godrej Ind Q3 cons net up 39% at Rs 60.8 cr • M&M buys stake in The East India Co • I-T raids at Katrina Kaif, Priyanka Chopra residences • FY11 tax collection to exceed target by Rs 37,000 cr • Iron ore exports down 24.64% to 9.69 mn tonnes in Dec • Power sector target revised downwards to 55,000 MW • Apple's App Store hits 10 bn downloads • World's highest restaurant opens for biz in Dubai • Legendary vocalist Pandit Bhimsen Joshi passes away more stories TOP VIDEOS It Would Be A Positive Surprise If RBI Hikes 50 Bps, That Would Mean They Are Not Worried About Growth: Anant Narayan, MD, South Asia, Standard Chartered Bank RBI Action To Move Markets, Budget Won't Alter Mood: Tarun Kataria, CEO, Religare Capital Our Budget Concern Continues In Things Like Implementation Of GST: Hari Bhartia, President, CII AT A GLANCE BSE 19151.28 +143.75 NSE 5743.25 +46.75 TURNOVER Rs. 147,954 cr BSE CASH Rs. 2,882 cr NSE CASH Rs. 11,572 cr NSE F&O Rs. 133,500 cr BULLION GOLD 20049 -20 SILVER 42413 -295 CRUDE WTI 88.78 -0.33 BRENT 4468.2 +14.65 FOREX $ / Re 45.67 +0.06 £ / Re 72.65 -0.27 € / Re 61.888 +1.23 EVENTS 25 January RBI To Release Third Quarter Review Of FY11 Monetary Policy 25 January IMC-Interactive Meet To Discuss The Difficulties Of The Stakeholders Of Corporate Sector, IMC Building, Mumbai 25 January CII-ASSOCHAM-FICCI Business Meeting, Taj Palace, New Delhi 26-30 January World Economic Forum Annual Meeting, Davos, Switzerland 27 January Primary Articles Inflation By Commerce & Industry Ministry For Week To January 15 27 January CII Partnership Summit, Grand Hyatt, Mumbai 27 January CII-MoP Interactive Session On National Mission On Enhanced Energy Efficiency, Taj Mahal, New Delhi 27-29 January Internet Retail Expo, The Grand, New Delhi EXPERT VIEWS "I think 62,000 MW (capacity addition target for the XIth Five-Year Plan) looks unlikely... Maybe we can do about 55,000 MW." Official Power Ministry "Manmohan Singh used to be honest but no more now because he is shielding corrupt people. A person doesn't become honest by merely refusing to be bribed. He has greater responsibilities as Prime Minister... Manmohan Singh should quit; the country would be better off without him as the Prime Minister." Ram Jethmalani BJP MP "Persistent high inflation could endanger the growth objective and also amplify risks to inclusive growth, containing inflation will have to be the predominant objective of monetary policy in the near-term." RBI Macroeconomic Review WATCH OUT Storyboard Over the past few months, some if India's key agencies have seen important structural changes. And this includes the appointment of new agency heads. This week , Storyboard meets the new bosses and finds out what their roadmaps are for 2011. Joseph George, CEO, Lowe Lintas; CVL Srinivas, Chairman Starcom mediaVest and D Rajappa, president, Rediffusion Y&R - get to know them better on Storyboard. SHOW TIMINGS Tuesday 7 pm CNBC-TV18 PROGRAMME SCHEDULE STOCKS & INVESTING INDIA EARNINGS PORTFOLIO