1 Lakh MW Power Target Ecologically Unsustainable Says Jairam Ramesh; Hindalco FY11 Sales At All-Time High; Sensex Slips 34 Pts

Monday, May 30, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version ANOTHER CRISIS AROUND THE CORNER SAYS MOBIUS Mark Mobius, executive chairman of Templeton Asset Management's emerging markets group, said another financial crisis is inevitable because the causes of the previous one haven't been resolved. read more LEAD STORIES 1 LAKH MW POWER TARGET ECOLOGICALLY UNSUSTAINABLE The government's 12th Plan target of creating 1 lakh MW is "ecologically unsustainable" says Environment Minister Jairam Ramesh. read more HINDALCO FY11 SALES AT ALL-TIME HIGH BUT NET DIPS Net sales rose 19% to Rs 72,078 cr, but net profit dipped 37.4% to Rs 2,456 cr on increased raw material expenses and higher interest outgo. read more SENSEX SLIPS 34 PTS ON PROFIT BOOKING, INFLATION FEARS Sensex closed at 18,232.06 points on profit booking amid concerns over high inflation. Nifty was down 3 points to close at 5,473.10. read more TOP STORIES • Govt opposes inclusion of PM under Lokpal Bill • CMs Mamata, Raman, Munda skip Plan Panel meet • I-T dept to publish and expose names of defaulters • Govt forms panel to probe tax-related crimes • 2G case: Plea against Ambani, Tata, Radia withdrawn • 2G scam: Bollywood honcho Karim Morani jailed • 2G scam: CAG Vinod Rai appears before JPC • NSE moves Delhi high court on CCI order • HC cancels land acquisition in Greater Noida • Europe's RTL, Reliance Broadcast to form JV • Koyuko to acquire 50.3% stake in Camlin for Rs 360 cr • Chidambaram for more taxes on luxury items • ONGC Q4 net dips 26% to Rs 2,791 cr as subsidy weighs • IOC Q4 net up 30% to Rs 3,905 cr • M&M Q4 net up 6.5% at Rs 607 cr, divided 230% • RComm FY11 net plunges 71% to Rs 1,345 cr • MTS offers half-paisa-per-sec call plan • Daewoo Electronics sale collapses, Electrolux eyed • Samsonite sets price range for $1.5 bn HK IPO • China's external assets goes up to $4.126 tn more stories TOP VIDEOS Operating Profit Margin Is Under Pressure And We Are Not Being Able To Pass High Raw Material Prices: Anand Mahindra, VC & MD, Mahindra & Mahindra Sluggish Fund Flows Is Nothing To Worry About, It's A Generalised Emerging Market Phenomenon: PJ Nayak, MD & Country Head, Morgan Stanley India There Are Chances That RBI Might Move In For 50 Bps Hike: Anant Narayan, MD & Regional Head Fixed Income & Currency Trading, Standard Chartered Bank AT A GLANCE BSE 18232.06 -34.04 NSE 5473.1 -3 TURNOVER Rs. 71,152 cr BSE CASH Rs. 2,447 cr NSE CASH Rs. 9,614 cr NSE F&O Rs. 59,090 cr BULLION GOLD 22487 -33 SILVER 57661 +156 CRUDE NYMEX 102.25 -0.08 BRENT 114.67 -0.36 FOREX $ / Re 45.07 -0.1 £ / Re 74.233 +0.09 € / Re 64.316 +0.04 EVENTS 31 May 46th Meeting Of Board Of Approval For Setting Up New Special Economic Zones 2 June Prime Minister To Take Final Call On Manufacturing Policy 2-3 June 26th Skoch Summit, Hyatt Regency, Mumbai 6 June Government To Meet To Review Coal Allocation Policy 9 June EGoM To Meet On Allocation Of Natural Gas To Power Plants EXPERT VIEWS "There is definitely going to be another financial crisis around the corner because we haven't solved any of the things that caused the previous crisis. Are the derivatives regulated? No. Are you still getting growth in derivatives? Yes." Mark Mobius Executive Chairman, Templeton Asset Management "Oil price should be somewhere between $70 and $80 a barrel, rather than the current level of over $100 a barrel. We don't want the West to go and find alternatives, because, clearly, the higher the price of oil goes, the more they have incentives to go and find alternatives." Al-Waleed Bin Talal Saudi Prince "We are really underestimating our capacity to raise resources, especially tax resources. Since non-plan expenditure is difficult to contain, the tax-GDP ratio must be raised especially by taxing conspicuous consumption and imposing inheritance tax." P Chidambaram Home Minister WATCH OUT Storyboard Turns 10! This week, Storyboard turns back the lens on its 10 year long journey on CNBC-TV18. Be it reliving favourite moments on the show, to chronicling how the Storyboard decade changed their lives, marketing, media and advertising stalwarts get candid with their views. And take a rare look at the effort and all the people it takes to churn out Storyboard week after week after week. SHOW TIMINGS Tue 7:30 pm