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