INDIA BUSINESS UPDATE - Sensex Down 295 Pts; Lilavati Hospital`s Black Money Trail Exposed

Friday, Feb 18, 2011 Click here for India Business Update Mobile Version LEAD STORIES SENSEX FALLS 295 PTS ON CORRUPTION PROBE WORRIES Sensex closed at 18,211.52 points, with realty and auto stocks leading the fall as investors booked profits. Nifty shut at 5,458.95 down 87.50 points. read more LILAVATI HOSPITAL'S BLACK MONEY TRAIL EXPOSED Over the last 9 years, the Mehta's have siphoned hundreds of crores of money out of the hospital into foreign accounts via the hawala route. read more TOP STORIES • Shahid Balwa sent to Tihar Jail till March 3 • 2G scam: CBI raids DMK's Kalaignar TV office • Cabinet proposes new phone tapping norms • Hasan Ali Khan appears before I-T authorities • Reliance Infra seeks IB probe in hammering of stocks • Decision on JPC by Feb 23; but only for 2G • Silver shines to new record high at Rs 47,450 • 11 AMCs in race to manage EPFO's 3lk cr funds • IDFC sees slowdown in lending in FY12 • New CPI series pegs retail inflation at 6% in Jan • Marico acquires Vietnam's Int'l Consumer Products • UK Sinha takes office as 8th SEBI chairman • EXL's Vikram Talwar, PE players to offload stake • Govt not to stick to any Cairn approval deadline • Banks should not invest in zero coupon bonds: RBI • Babri case: CBI moves SC against Advani, others • Advani apologises to Sonia on Swiss bank a/c issue • China raises RRR by 50 bps; more tightening ahead • G-20 meet kicks off in Paris • Mike Jagger's daughter to design Lodha residences more stories TOP VIDEOS I Am Expecting A Mixed Budget, Maybe Marginally Positive: Suresh Mahadevan, Head - India Research, UBS Securities Domestic Prices Of Steel Are At Lowest Level Today Relatively To What Is Happening In The International Markets: Seshagiri Rao, Joint MD & Group CFO, JSW Steel Imbalance In Demand-Supply Along With Consumption Of Copper In Chinese Economy Is Adding To Rise In Copper Prices: Shakeel Ahmed, CMD, Hindustan Copper Hope For G20 Meeting Is Everyone Will Have General Interests Of The Group And Not Personal Interests: Christine Lagarde, French Finance Minister AT A GLANCE BSE 18211.52 -295.3 NSE 5458.95 -87.5 TURNOVER Rs. 209,235 cr BSE CASH Rs. 3,564 cr NSE CASH Rs. 13,879 cr NSE F&O Rs. 191,792 cr BULLION GOLD 20541 +25 SILVER 47600 +421 CRUDE WTI 87.22 +0.86 BRENT 4572.79 -92.28 FOREX $ / Re 45.13 -0.39 £ / Re 73.251 +0.33 € / Re 61.422 +0.1 EVENTS 21-22 February 2nd Annual Conference On Project Management In Infrastructure Sectors, Hyatt Regency, New Delhi 21-23 February Indian Business Aviation Expo, Shangrila, New Delhi 21 February 4th Summit On "Sustainable Mining To Green Steel Making", TajManSingh, New Delhi 21 February AIMA's 55th Foundation Day, Le Meridien, Mumbai 21 February Vedanta Case Hearing 23-26 February Chemtech World Expo, Bombay Exhibition Centre, Mumbai 23-26 February BuildArch 2011, Building The Future, Bangalore International Exhibition Centre, Bengaluru 24-27 February Agri Food Technology Meet 2011, Lulu International Convention Center, Thrissur, Kerala 25 February Railway Budget & Economic Survey 25 February Seminar On Sustainable Business Growth Focusing SME's, Panaji, Goa EXPERT VIEWS "The recovery process from the international financial crisis is still fragile. There is strong recovery in North America, particularly the USA, but it is still fragile, particularly in four countries where sovereign debt is very high (and ) are causing problems. These countries are Ireland, Portugal, Spain and Italy... I don't think it (currency war) is going to be that prominent in this meeting of the G-20." Pranab Mukherjee Finance Minister "It (whether Government has decided to go in for a JPC) is a premature question at the moment. We are still in the process of discussing with other political parties.....A decision will be taken by Wednesday (Feb 23)." PK Bansal Parliamentary Affairs Minister "The allegations regarding medicine purchases are baseless. The medicines have been purchased from manufacturers and authorized distributors. We have documents to corroborate. The allegations against Vesta and Mayfair are not true. The Trust has filed a case in the Bombay High Court to recover the advance money. Vesta and Mayfair had transferred immovable properties to the Trust to extinguish their liability." Lilavati Hospital Statement WATCH OUT Budget 2011: Priceline On Priceline this week Latha Venkatesh speaks to top India experts from 3 different continents: Lord Meghnad Desai, formerly professor at London school, Chetan Ahya MD, Morgan Stanley Asia and Eswar Prasad, Professor of economics at Cornell University USA on what the macroeconomic priorities of this budget should be: Inflation, deficit control or keeping the growth tempo. SHOW TIMINGS Sat 11:30 am, 10:30 pm CNBC-TV18 PROGRAMME SCHEDULE STOCKS & INVESTING INDIA EARNINGS PORTFOLIO