Sensex Zooms 434 Pts; 2G Scam: CBI Court To Hear Corporate Honchos Bail Plea On Apr 15

Wednesday, Apr 13, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version SENSEX GAINS 434 PTS, CAPITAL GOODS, AUTO RALLY It was a spectacular pullback rally for equity benchmarks, as they recovered losses shed in previous four sessions as well as today's initial sell-off. The rally was supported by inflow of funds from foreign institutional investors. IT bellwether Infosys gained 2% ahead of results on April 15, but TCS and Wipro outperformed Infosys, gaining close to 3%. Hero Honda surged nearly 6% after announcement of dividend. Tata Motors, Maruti and M&M moved up 2.5-3%. ITC and HUL jumped nearly 3%. HDFC Bank, ICICI Bank, Kotak Mahindra Bank, IDFC and Axis Bank rallied 2-4%. Nifty gained 125.80 points to settle at 5,911.50 points. Sensex ended at 19,696.86 points. read more LEAD STORIES 2G SCAM: CBI COURT TO HEAR BAIL PLEA ON APR 15 The CBI court will decide on April 15 if the accused Vinod Goenka, Sanjay Chandra, Gautam Doshi, Surrendra Pipara, Hari Nair need to be granted bail. read more IN THIS WESTSIDE STORY, HINT OF NEXT TATA HELMSMAN Noel Tata's presence at the inauguration of the new Westside store, along with the Tata top brass, sent signs of him stepping into Ratan Tata's shoes. read more TOP STORIES • Elections: Over 70% turnout in Tamil Nadu, Kerala • Virgin may exit Indian ops, Tata may buy out JV • SingTel raises stake in Airtel to 32.25% • DoT finalises notices to terminate Loop licenses • Hero Honda declares 3,500% interim, Rs 70/share • Rupee down 12 paise, closes at 1-wk low of 44.50/$ • Govt not to roll back excise duty on garments • Under-performer lease in coal sector to be cancelled • Takeover Code: SEBI to take a call later this month • Muthoot Finance IPO price band at Rs 160-175/share • SC asks GSK to pay Rs 71 cr to govt • BRICS vows to oppose trade protectionism • 95-yr-old director to face trial in tax evasion case • ING buying Indian stocks first time since mid-2010 • Rajat Gupta judge expresses 'concern' over SEC courts • Unilever, P&G fined $456 mn for price fixing • Toyota to halt production at 5 European plants • Yuan hits record high against dollar • Russian partner to sue BP for $10 bn • Mubarak, sons Gamal, Alaa detained for investigation more stories TOP VIDEOS Investors Are Pulling Out Money From The Indian Market Looking At The Kind Of Scams Taking Place In The Country: Mark Mobius, Executive Chairman, Templeton Asset Management If Anything Could Boost The Food Index Upwards Again, It Would Probably Come From Oil Seeds And Cereals: Abdolrezan Abbassian, FAO Secretary, Inter-Governmental Group On Grains AT A GLANCE BSE 19696.86 +434.32 NSE 5911.5 +125.8 TURNOVER Rs. 149,578 cr BSE CASH Rs. 3,317 cr NSE CASH Rs. 13,049 cr NSE F&O Rs. 133,212 cr BULLION GOLD 21282 +23 SILVER 59681 +313 CRUDE NYMEX 102.25 -0.08 BRENT 121.91 +0.99 FOREX $ / Re 44.45 +0.27 £ / Re 72.293 +0.47 € / Re 64.377 +0.43 EVENTS 14 April WPI Inflation For March To Be Detailed By Commerce & Industry Ministry 14-15 April MEDC's International Conference On "Use Of Land Resources In Economic Development Of Maharashtra", Mumbai 15 April Infosys To Announce Q4 Results 4th Hydro Vision India 2011, The Park, New Delhi 18-19 April 2nd Annual Conference On Data Centres For Infrastructure Sectors, Hyatt Regency, New Delhi EXPERT VIEWS "The status of a person changes in law after filing of the chargesheet. They are not entitled to release on bail ipso facto (by default) on appearance before the court. From being suspects, they have now become accused and hence, will have to justify their bail plea." UU Lalit Senior Advocate "It was shocking to find that Anna Hazareji...publicly appreciated the rule as well as rural development work by the CM of Gujarat, Mr Narendra Modi...Modi's response to the initiative to bring in a strong enactment or to wipe out corruption is, to say the least, only politically motivated. If only he was committed to an institution like the Jan Lokpal, how could the Lokpal's post be vacant in Gujarat since 2005." Medha Patkar Social Activist "The readymade garments industry is indisciplined and has been enjoying tax exemption from Independence till now. It is time to discipline the sector and the duty imposed will not be rolled back." Sunil Mitra Revenue Secretary WATCH OUT Tech Toyz This week on Tech Toyz Suresh and Ankit drive the ultimate CEO accessory the Audi A8L! Also on the show we get you the funkiest acessories for your Phone, Laptop, iPad and needs you never knew existed! Watch the accessory special of Tech Toyz. SHOW TIMINGS Fri 6:30 pm Sat 8:30 pm Sun 1 pm