INDIA BUSINESS UPDATE - Planning Commission Panel For Slashing FDI In Pharma; Sensex Up 30 Pts In Choppy Trade

Wednesday, Mar 09, 2011 Click here for India Business Update Mobile Version LEAD STORIES PLANNING COMMISSION PANEL FOR SLASHING PHARMA FDI A panel chaired by K Srinath Reddy has recommended reducing FDI in the pharma sector to below 49% in order to bring down the cost of medicines. read more COURT PULLS UP ED IN HASAN ALI CASE, ADJOURNS HEARING A Mumbai court adjourned till tomorrow the hearing of Pune-based Hasan Ali Khan and pulled up ED for not making a proper case for his custody. read more SENSEX UP 30 PTS IN CHOPPY RIDE, RCOMM ZOOMS 9.36% RComm rose on news of its tower sale and loan deal with Chinese bank. Sensex ended at 18,469.95 points, Nifty rose 10.20 points to end at 5,531. read more TOP STORIES • MAT sparks SEZ war: Commerce Min won't amend Act • Orissa govt moves SC on Niyamgiri mining • Feb car sales up 22.6% to all-time high, bikes up 20.8% • FDI plunges 48% in Jan; April-Jan dip by 25% • HDFC mulls selling non-core invst of Rs 40,000 cr • Direct tax collections up 20.75% in Apr-Feb'11 • RComm inks $1.93 bn loan deal with Chinese bank • Bidders seek large discount for RComm tower arm • Gamesa to invest $110 mn; not to buy stake in Suzlon • NTPC moves SC against HC verdict on Ansaldo • Power Exchange to start trading in RECs from Mar 30 • SEBI brings uniformity on MF load a/c balance usage • Atlas Copco delisting offer gets big investors response • Micromax cuts IPO size by 30% to $104 mn • Dodsal acquires 100% stake in Chennai's AE&E IDEA • Air India earns Rs 36 cr a day, spends Rs 57 cr • Nation-wide MNP requests crossed 38 lakh in Feb • Somali pirates free ship with 11 Indians after 11 mths • Hyderabad braces for Telangana million march • Gaddafi surprises media with public appearance more stories TOP VIDEOS Commodity Prices Are Not Yet Something That Is Going To Be A Drag On Indian Growth: Michael Spencer, Chief Economist & Head Of Global Markets Research, Asia Pacific, Deutsche Bank I-T Department May Quiz Honda On Discounted Stake Sale: HP Ranina, Corporate Tax Lawyer AT A GLANCE BSE 18469.95 +30.3 NSE 5531 +10.2 TURNOVER Rs. 124,074 cr BSE CASH Rs. 3,406 cr NSE CASH Rs. 11,500 cr NSE F&O Rs. 109,168 cr BULLION GOLD 21091 +69 SILVER 54379 +816 CRUDE WTI 105.58 +0.56 BRENT 5216.81 +134.28 FOREX $ / Re 45 -0.08 £ / Re 72.824 +0.21 € / Re 62.559 +0.14 EVENTS 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 Information Technology Conference 2011 "Fostering Inclusive Growth Through IT", Indian Merchants Chamber, Mumbai 16 March Consumer Investment Summit 2011, Taj President, Mumbai EXPERT VIEWS "We want to see the international community support it (a no-fly zone in Libya). I think it's very important that this not be a U.S.-led effort." Hillary Clinton U.S. Secretary Of State "You people (ED) are not able to make out even a single case against him (Hasan Ali Khan), so what do you want his custody for? What do you want to investigate him for? You people show one offence against him and then we can talk of custody." ML Tahaliyani Principal Sessions Court Judge "If you look at futures market also, there is expectation that this (crude oil prices) is going to go down. So overall, my expectation is that this very high price regime is not going to last." Kaushik Basu Chief Economic Advisor WATCH OUT Lessons in Marketing Excellence Season 2 HUL and CNBC-TV18 present Lessons in Marketing Excellence Season 2, a case study challenge across India's top B-Schools. This week, from the top 12 semifinalists, catch ISB, IIM-Kozhikode & XLRI battle it out for a place in the finals with the Lakme case study. SHOW TIMINGS Sat 7 pm Sun 2 pm & 7 pm