Suresh Kalmadi Sent To 8-Day Police Custody; Sensex Down 38 Pts

Tuesday, Apr 26, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version KALMADI IN DOCK: BAIL DENIED, SLIPPER HURLED Former CWG chief Suresh Kalmadi has been remanded to 8 days of police custody by the Patiala House Court on Tuesday. Two other senior officials of the CWG Organsing Committee, Surjeet Lal and ASV Prasad, have also been sent to police custody for 8 days. Earlier, there was huge drama outside the Patiala House Court when a 43-year-old Manoj Sharma from Gwalior tried to hit Kalmadi with a slipper. read more LEAD STORIES SENSEX RECOUPS 238 PTS TO END FLAT; BHARTI, SBI LEAD It was a volatile Tuesday. Sensex closed at 19,545.35 down 38.96 points on late buying in bluechip counters. Nifty was down 6.10 points to 5,868.40. read more 2G SCAM: DELHI HC TO RESUME BAIL HEARING ON APR 29 Delhi HC will resume on April 29 the hearing for bail applications of five corporate executives charged by the CBI in the 2G scam. read more RATE HIKE EXPECTATIONS GROW ON INFLATION WORRIES: POLL The RBI is seen raising rates by a quarter point on May 3 and analysts now expect it to raise rates by a total of 75 basis points. read more TOP STORIES • Apex court axes airport fee at Mumbai and Delhi • Indian names in Swiss bank data list: Assange • Govt launches negotiable warehouse receipts • Green signal for cos to send notices, docs by email • Rupee falls to over 3-week low, ends at 44.51/$ • Govt pushes through Jaitapur N-plant, assures safety • 'N-power option should not be based on emotion' • Cap inflation even if growth is hit: YV Reddy • SBI's Rs 20,000 cr rights issue this year: Chairman • Power Finance $1.2 bn share sale on May 10 • ACC Q1 consolidated net dips 10.87% to Rs 350 cr • Tata Motors cuts production by 15-20% in April • ITC, Ruchi Soya in world's 50 fastest growing FMCGs • Steel demand to grow by 10-11% in FY12: Muthuraman • Rising prices might push Indians into poverty: ADB • Dinakaran moves SC against impeachment action • Crucial third phase West Bengal polls tomorrow • Ford posts best Q1 profit in 13 yrs, net up 22% • Social media the new battleground in Singapore poll • Costliest Royal wedding ever on Apr 29; to cost $32 mn more stories TOP VIDEOS Just Because There Is A Crisis Today, The Japanese Manufacturers Will Not Replace Those Components By Indian Suppliers, They Will Never Do That: Jagdish Khattar, CMD, Carnation Auto RBI's Calibrated Move Hasn't Managed To Keep Inflationary Expectations Under Check Nor Has It Managed To Prevent Food Inflation From Passing On To Core Inflation And To Non-Food Manufacturing: Jahangir Aziz, Chief Economist, JPMorgan The Anxiety About What Bernanke Says Tomorrow, The Weakness In Commodity Is Leading To A Bout Of Weakness In Asia: Tim Condon, Head Of Research, Asia, ING Financial Markets AT A GLANCE BSE 19545.35 -38.96 NSE 5868.4 -6.1 TURNOVER Rs. 235,146 cr BSE CASH Rs. 3,073 cr NSE CASH Rs. 11,973 cr NSE F&O Rs. 220,100 cr BULLION GOLD 21843 -143 SILVER 66792 -3337 CRUDE NYMEX 102.25 -0.08 BRENT 123.85 +0.19 FOREX $ / Re 44.51 +0.03 £ / Re 73.259 +0.35 € / Re 65.047 +0.72 EVENTS 27 April CII Round Table On Promoting Investment Opportunity In Power Sector, The Lalit, New Delhi 26-27 April 5th Annual Conference On Telecom Infrastructure In India, Hyatt Regency, New Delhi 27-28 April India Pakistan Trade Secretaries To Meet, Islamabad 28 April National Advisory Council Meet 28April- 1May Golden Maharashtra Mega Exhibition 30 April Infosys Technologies Board To Finalise Company's Leadership Succession Plans EXPERT VIEWS "Tell me any single period when we had higher growth and higher inflation. It just does not happen that way and it is a wrong policy. What we need is low inflation and if it demands low growth, so be it." YV Reddy Former RBI Governor "To the extent that inflationary pressures are supply driven, higher interest rates may be less effective in controlling it. In India, Indonesia, and Malaysia, in particular, the adverse effects of the increase in global food prices in 2011 tend to take a larger toll on GDP growth in 2012 rather than in 2011." ADB Report Global Food Price Inflation And Developing Asia "Experts from all the countries should sit and share their experiences for the future choice of nuclear power scientifically. The failure of Fukushima -- we have to look at it scientifically and not emotionally." Akitaka Saiki Japanese Ambassador To India WATCH OUT Young Turks Dream Decade This week on Young Turks Dream Decade we go On The Road to meet serial entrepreneur Manu Agarwal of NaapTol, a virtual shopping network. On Young Turks Tutorial, catch the founder of CASHurDRIVE, an on vehicle advertising venture, in a master class with ad man Prathap Suthan of iYogi. And on YT Buzz we take you to HCL's youth leadership initiative - MAD, where the final 15 battle it out to become the CEO of MAD Ltd. SHOW TIMINGS Wed 7:30 pm