INDIA BUSINESS UPDATE -Dec IIP Slumps To 1.6% From 18% YoY; Sensex Soars 265 Pts

Friday, Feb 11, 2011 Click here for India Business Update Mobile Version LEAD STORIES DECEMBER IIP SLOWS TO 20-MTH LOW AT 1.6% IIP nosedived to a 20-month low of 1.6% in December from 18% a year ago and 3.6% in November largely on poor performance of the manufacturing sector. read more SENSEX SNAPS LOSING STREAK; REBOUNDS 265 PTS Sensex bounced back after 3 days of sharp decline, to end at 17,728.61 on buying in banking stocks. Nifty closed at 5,310, up 84.20 points. read more BJP-RULED STATES OPPOSE GST PROPOSALS AGAIN The latest draft on constitutional amendments to GST implementation has again hit roadblock, with BJP-ruled states voicing opposition. read more TOP STORIES • CBI arrests Suresh Kalmadi's PA in Pune • Mubarak leaves Cairo, army assures reforms • 2G favours rivals, govt to lose Rs 6.5k cr: RComm • Trai dismisses old GSM operators' loss concerns • 2G: Swamy writes to PM, Pawar denies Balwa link • 2G: DB Realty distances itself from Etisalat DB • Tata Motors Q3 net quadruples to Rs 2,424 cr • HPCL Q3 net up nearly 7-fold to Rs 211 cr • MTNL Q3 net loss declines 27% to Rs 670 cr • Anil Ambani stocks tank; identifies rogue brokers • Space panel meet on Feb 12 to discuss Antrix revamp • 15 CIL projects may get green clearance in 2 months • Permit export of iron ore stuck at ports: SC to K'taka • SKS MicroFin staff sell stock options • Govt losing Rs 2,200 cr a year on fake auto parts • Obama calls for winding down Fannie, Freddie • New US law to combat Chinese currency manipulation • Nokia, Microsoft to build rival to Google's Android • Google in talks to buy Next New Networks • Facebook mulls $1 bn employee share sale more stories TOP VIDEOS This Is Beginning Of The Slowdown, Unless We Do Any Drastically Surgical Process: A Subba Rao, Group CFO, GMR Infrastructure Restructuring Is A Part Of The Process, Otherwise It Will Mean That We Are Refusing To Adapt: Shiv Nadar, Chairman, HCL Technologies I Don't Think The FPO Will Go Through Successfully Without Clarity On The Subsidy Sharing Mechanism: RS Sharma, Former Chairman, ONGC India Inflation Fears Overdone, Worst Maybe Over: Alok Sama, President & Founder, Baer Capital AT A GLANCE BSE 17728.61 +265.57 NSE 5310 +84.2 TURNOVER Rs. 165,197 cr BSE CASH Rs. 3,417 cr NSE CASH Rs. 14,015 cr NSE F&O Rs. 147,765 cr BULLION GOLD 20432 +5 SILVER 45679 -58 CRUDE WTI 86.67 -0.06 BRENT 4654.93 +45.1 FOREX $ / Re 45.63 -0.09 £ / Re 72.926 -0.22 € / Re 61.692 -0.16 EVENTS 14-15 February 2nd Annual International Summit Coal Gas: 2011, Vigyan Bhawan, New Delhi 14-15 February 2nd Annual Conference On Coal Based Power Generation, Trends & Developments, Issues & Challenges, The Imperial, New Delhi 14-16 February 29th Annual National Conference On "Sustainable People Development: Strategic Issues & Challenges", The Ashok, New Delhi 15-18 February 6th Nutra India Summit 2011, World Trade Centre, Mumbai 17 February Emerging Trends In Healthcare, A Journey From Bench To Bedside, Le Meridien, New Delhi 17-19 February Electronics Expo 2011, Pragati Maidan, New Delhi 21-22 February 2nd Annual Conference On Project Management In Infrastructure Sectors, Issues & Challenges: Strategies & Solutions, Hyatt Regency, New Delhi EXPERT VIEWS "As per media reports I have read, he (Shahid Balwa) is 32 years old and I am 70. How can he be my friend... you should understand this." Sharad Pawar Agriculture Minister "First of all, I would like to clarify one thing that is DB Realty and Etisalat DB have no connection. There is no shareholding of DB Realty in Etisalat DB barring the investments (in Swan Telecom) which are made by Shahid and me in our personal capacity. There is no other connection between the two companies." Vinod Goenka MD, DB Realty "IIP numbers are very unfortunate and it is disappointing but it was on expected lines as it was on yearly basis. Monthly and weekly numbers do not reflect correct picture. Therefore you shall have to take the whole year into account. Let us see how it reflects in the annual picture." Pranab Mukherjee Finance Minister WATCH OUT Budget 2011: Priceline On Priceline this week Latha Venkatesh speaks to 3 top economists: Director of the NIPFP M Govinda Rao, Planning Commission Member Abhijit Sen and head of the committee to review petroleum product pricing Kirit Parikh on how Pranab Mukherjee can tackle the demons of a large fiscal deficit and looming inflation in Budget 2011. SHOW TIMINGS Saturday 11:30 am & 10:30 pm Sunday 8:30 am CNBC-TV18 PROGRAMME SCHEDULE STOCKS & INVESTING INDIA EARNINGS PORTFOLIO