INDIA BUSINESS UPDATE - ED Detains Hasan Ali; Sensex Skids 263 Pts; Silver, Gold, Oil Hit All-Time High On Libyan Crisis


Monday, Mar 07, 2011



SPECIAL LEAD
FINALLY, ED DETAINS HASAN ALI IN PUNE
Tax defaulter Hasan Ali, accused of stashing black money abroad, has been detained in Pune by Enforcement Directorate on Monday. A 14-member ED team visited Ali's house to ascertain his whereabouts. Ali accompanied ED officials in his own Mercedes Benz car along with his wife. Ali's lawyer RK Gaur, however, claimed that his client has not been detained. "We have answered ED's questions. There is no evidence that my client has $8 bn. ED officials have spoken to me and said that they are taking him away. But ED has not allowed me to talk to Hasan Ali," said Gaur. ED also conducted raids across the country on Ali's properties and associates including two of his closest aides Kashinath Tapuriah and Philip Anand Raj. read more
LEAD STORIES
SENSEX SKIDS 263 PTS ON POLITICAL WOES, OIL PRICES
Investors got jittery due to political instability and crude oil prices. Sensex ended at 18,222.67 points and Nifty at 5,463.15, down 75.60 points. read more
OIL PRICE HITS 30-MTH HIGH AT $106.45
Oil prices shot up on Libya turmoil. New York's main contract, light sweet crude for delivery in April, hit $106.45 - highest since September 2008. read more
SILVER HITS 31-YR HIGH; GOLD AT NEW PEAK OF RS 21,420
Silver rose by Rs 1,250 to Rs 54,450 per kg and gold surged Rs 200 to Rs 21,420 per 10 gm on heavy buying support as Libyan conflict deepens. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 18222.67 -263.78
NSE 5463.15 -75.6
TURNOVER
Rs. 129,223 cr
BSE CASH
Rs. 2,381 cr
NSE CASH
Rs. 9,537 cr
NSE F&O
Rs. 117,304 cr
BULLION
GOLD 21180 +82
SILVER 54345 +928
CRUDE
WTI 105.57 +1.15
BRENT 5267.24 +57.24
FOREX
$ / Re 45.045 +0.16
£ / Re 73.252 +0.45
€ / Re 63.049 +0.43
EVENTS

8 March
Kapil Sibal To Meet Top Operators On Spectrum Issues


9-10 March
Conference On Waste Management In India, The Imperial, New Delhi


11 March
SIM'ergence 2011, India- New Decade, New Horizon, New Challenges, BSE Hall, Mumbai


15-16 March
6th Annual Conference On City Gas Distribution In India, The Imperial, New Delhi


16-18 March
Water Expo, Chennai Trade & Convention Centre, Chennai

EXPERT VIEWS

"I have no hesitation in repeating what I said in Jammu. Obviously, there was an error of judgement (over CVC appointment). I accept full responsibility for it."

Manmohan Singh
Prime Minister
"A concerted campaign against India pharma industry has been launched by MNCs whose interests are getting adversely impacted due to increasing global presence of India pharma companies especially in the generic segment."

Jyotiraditya Scindia
Minister Of State For Commerce & Industry
"There is no abnormal global signals in the weather system to hint that there could be a drought this year."

D Sivananda Pai
Director, National Climate Center

WATCH OUT
Overdrive
This week, the iconic Mercedes G Wagen is put to the Overdrive test. Also on the show: how Budget 2011 affects the auto industry, Rolls Royce Global CEO Torsten Muller-Otvos on the company's electric plans & we go dune bashing at the Mahindra Great Escape.
SHOW TIMINGS
Tue 6:30 pm

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