INDIA BUSINESS UPDATE - Sensex Rebounds 216 Pts; DMK-Congress Stalemate Over Seat-Sharing Ends; One Female Independent Director Mandatory In Cos

Tuesday, Mar 08, 2011 Click here for India Business Update Mobile Version LEAD STORIES SENSEX REBOUNDS 216 PTS; IT, BANKS UP Buying in fundamentally strong stocks amid easing crude oil prices helped Sensex end up at 18,439.65 points. Nifty ended at 5,520.80, up 57.65 points. read more DMK-CONGRESS STALEMATE OVER SEAT-SHARING ENDS DMK has agreed to allocate 61 seats, up 1 seat from what they previously agreed, while 2 more seats will be allocated from their other allied parties. read more ONE FEMALE INDEPENDENT DIRECTOR MANDATORY: DEORA Murli Deora said that it would be mandatory for companies having 5 or more independent directors to have at least 1 female independent director. read more TOP STORIES • Rebels reject talks, demand Gaddafi quits Libya • SC for invoking POTA against Hasan Ali • Hero to buy 26% Honda stake at half the market price • SEBI begins adjudication against RIL in 1994 case • Cairn-Vedanta deal now hinges on ONGC approval • Silver tumbles by Rs 950 on weak global cues • Hospitals, educational institutes now under infra sector • To add 15,000 MW in FY11, highest in a yr: Power Min • 'Production from Coal India's 46 projects delayed' • Rajat Gupta resigns from three corporate boards • I-T dept eyes realty sector in black money trail • Ispat may refinance Rs 7,500 cr debt under CDR • Insecticides India buys Monocil from Nocil • Mirae launches India-China consumption fund • After gold, funds plan silver ETFs • Women's Reservation Bill debated in Lok Sabha • Mumbai airport beats Delhi in overseas traffic • Brent drops below $113 as OPEC may increase output • Court upholds removing Yunus as Grameen Bank head • Charity costs Bill Gates richest-man title more stories TOP VIDEOS We Can Do Very Little About The Rising Crude Prices And Therefore, The Fuel Prices: RC Bhargava, Chairman, Maruti Suzuki We Think That Oil Prices Are Probably Going To Come Down From These Elevated Levels: Paul Sheard, Global Chief Economist, Nomura Crude May Rise Before Additional Production: Marc Faber, Publisher, Gloom, Boom & Doom Report China, India, Indonesia And Korea Are Beginning To Decelerate Whereas The Growth Indicators In The U.S. Are Accelerating Now: Ajay Kapur, Head - Equity Strategy For Asia, Deutsche Bank AT A GLANCE BSE 18439.65 +216.98 NSE 5520.8 +57.65 TURNOVER Rs. 103,841 cr BSE CASH Rs. 2,831 cr NSE CASH Rs. 9,991 cr NSE F&O Rs. 91,019 cr BULLION GOLD 21107 -22 SILVER 54155 +277 CRUDE WTI 105.51 +0.07 BRENT 5124.86 -64.73 FOREX $ / Re 45.03 -0.02 £ / Re 72.687 +0.01 € / Re 62.511 -0.2 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 15-16 March 6th Annual Conference On City Gas Distribution In India, The Imperial, New Delhi EXPERT VIEWS "I have urged the stakeholders that the captains of the (telecom) industry must get together and iron out the differences among themselves because no industry can be robust if it is fractious... Now these issues will be taken to the Telecom Commission and later the government will take a decision on them. I have a 100 day agenda and I keep my 100 day agenda." Kapil Sibal Telecom Minister "On the basis of the information collected by Enforcement Directorate it seems there is an angle of arms terrorism and national security. In fact why POTA cannot be invoked against Hasan Ali?" Supreme Court Statement "We have already added about 10,460 MW by now (April-February) and hope to exceed 15,000 MW by the end of this (fiscal) year. This will be the highest capacity addition in any year.. (But) I am little upset now... if I don't get coal and other fuel due to environmental restrictions, I will not be able to even meet out the revised capacity addition target of 62,000 MW during the 11th Plan." Sushil Kumar Shinde Power Minister WATCH OUT Young Turks Dream Decade This week we go On The Road to meet Atit Bhatia of Hindustan Tin Works, India's leading manufacturer of metal cans. Catch Karishma Daswani of Femmehire.com, a job portal exclusively for women, in a master class with Anirudh Singh of Canaan Partners on the Young Turks Tutorial. And on YT Buzz catch all the action from the 5th IIT Delhi entrepreneurial summit. SHOW TIMINGS Wed 7 pm