CCEA Clears Cairn-Vedanta Deal With Riders; Sensex Up 152 Pts; Corporate Donations Rise 5-Fold Since 2006

Thursday, Jun 30, 2011

BREAKING NEWS
CAIRN-VEDANTA DEAL CLEARED WITH RIDERS
The Cabinet Committee on Economic Affairs (CCEA) has given a conditional approval to the $9-billion Cairn-Vedanta deal. The government's approval has come with stringent pre-conditions that include royalty being cost recoverable for the Barmer field in Rajasthan. That means Cairn India will have to pay 20% royalty on Rajasthan crude. Cairn India will also have to withdraw the arbitration suit it had filed against cess payment. That means the company will have to pay Rs 2,500 per tonne cess on its 70% share in Rajasthan. read more

LEAD STORIES
SENSEX UP 152 PTS ON EASING INFLATION
Sensex closed at 18,845.87 amid sharp dip in food inflation. Nifty advanced 46.95 points to end at 5,647.40. read more
CORPORATE DONATIONS AT $1.5 BN, UP 5-FOLD SINCE 2006
A Bain & Company study estimates corporate giving in India at $1.5 billion, a five-fold increase since 2006. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 18845.87 +152.01
NSE 5647.4 +46.95
TURNOVER
Rs. 200,116 cr
BSE CASH
Rs. 2,639 cr
NSE CASH
Rs. 15,418 cr
NSE F&O
Rs. 182,059 cr
BULLION
GOLD 21960 -177
SILVER 51262 -659
CRUDE
NYMEX 102.25 -0.08
BRENT 112.06 -0.34
FOREX
$ / Re 44.68 -0.17
£ / Re 71.667 -0.25
€ / Re 64.75 +0.03
EVENTS

30 June
Deadline For Drafting Lokpal Bill


1 July
ICAI Foundation Day, Vigyan Bhavan, New Delhi
India-Malaysia Free Trade Agreement To Be Effective
NSE Board To Discuss CCI Penalty Issue


2 July
Sonia Gandhi To Meet Anna Hazare


3 July
All-Party Meet On Drafts Of Lokpal Bill


4 July
Supreme Court To Hear Vedanta Case


5 July
2G Scam: Karim Morani's Bail Plea Hearing


EXPERT VIEWS

"Having come from the White House and Washington DC recently, I would like to say the White House and Obama administration strongly and vehemently support the clean waiver for India."

Timothy J Roemer
Outgoing U.S. Ambassador
"(On Lokpal Bill) Let the government tell us what is its view. Why two drafts are being sent to states for views. First, the government should make its stand clear on what it wants. Then only we can comment on it."

Nitish Kumar
Chief Minister, Bihar
"We are looking at a structured regime where India Inc may execute certain measures and be considered compliant with CSR activities. The information they need to provide include money spent on CSR, details on vocational training provided, institutions and NGOs engaged for extending training, number of people trained and/ or absorbed, or self employed."

Official
Government

WATCH OUT
Storyboard Talks To Unilever's Keith Weed & P&G's Marc Pritchard
The world's biggest marketers had different stories to tell at the Cannes Lions festival this year. Anuradha SenGupta caught up with Unilever CMO Keith Weed and Procter & Gamble's Global Marketing & Brand Building Officer Marc Pritchard and got them talking on the importance of the corporate brand, changing consumer habits, and their views on traditional media in a digital world.
SHOW TIMINGS
Sat 9 am
Sun 6:30 pm

IBU Mobile version India Business Update

Infra sectors growth slows down to 5.3 pc in May

Dated:June 30,2011
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Market Round-up
SENSEX 18845.87 152.01
NIFTY 5647.40 46.95
NASDAQ 2141.54 17.78
DJIA 10060.06 19.61
RS/$ 46.79 -0.14

NSE Gainers
Scrip Price(Rs.) %Change
Polar Industries Ltd.
5.05 + 20.24
Gyscoal Alloys Ltd.
16.35 + 20.22
Deep Industries Ltd.
67.90 + 20.07
Bhagyanagar India Ltd.
20.95 + 20.06
Indus Fila Ltd.
20.15 + 18.18

NSE Losers
Scrip Price(Rs.) %Change
Timbor Home Ltd.
68.60 -19.34
SPL Industries Ltd.
4.00 -12.09
Infomedia 18 Ltd.
15.50 -9.88
Sambhaav Media Ltd.
1.55 -8.82
Kandagiri Spinning Mills
88.10 -8.23



Top Headlines

Dell earmarks $1 billion for 'mid-market' opportunities

Dell said it was increasing focus on the mid-market as it looks to offer services like cloud computing, security and data management services to customers.


Cafe Coffee Day's V G Siddhartha picks up Soota's stake in Mindtree

The stock touched a high of Rs 426.60 on the BSE and touched Rs 430 at the NSE. According to one estimate, the stake was sold at about Rs 411/share.


Purulia arms drop: Danish court rejects Kim Davy's extradition to India

A Danish High Court rejected a plea for the extradition of Niels Holck alias Kim Davy to India in the 1995 Purulia arms drop case, a CBI official said.



Most Read Story
For his new 13,350-sq-ft bungalow in Colaba, Tata Group chairman chooses elegance over extravagance

Most E-mailed Story
According to a global survey by Heidrick and Struggles, 82% NRIs and PIOs are willing to shift base to India if a suitable opportunity turns up.


Most Commented Story
The head of India's national carrier has told his employees that the airline was in dire straits and would find it difficult to pay salaries.


Latest Updates



Fertiliser stocks up ahead of cabinet meet

Dated:30 June,2011
Market Round-up
SENSEX 18845.87 152.01
NIFTY 5647.40 46.95
NASDAQ 2141.54 17.78
DJIA 10060.06 19.61
RS/$ 46.79 -0.14

NSE Gainers
Scrip Price(Rs.) %Change
Polar Industries Ltd.
5.05 + 20.24
Gyscoal Alloys Ltd.
16.35 + 20.22
Deep Industries Ltd.
67.90 + 20.07
Bhagyanagar India Ltd.
20.95 + 20.06
Indus Fila Ltd.
20.15 + 18.18

NSE Losers
Scrip Price(Rs.) %Change
Timbor Home Ltd.
68.60 -19.34
SPL Industries Ltd.
4.00 -12.09
Infomedia 18 Ltd.
15.50 -9.88
Sambhaav Media Ltd.
1.55 -8.82
Kandagiri Spinning Mills
88.10 -8.23


Top Headlines

Nifty ends above 5630; JP Associates, Kotak Bank, Cairn up

Indian markets ended higher for sixth straight session on the back of sustained buying activity from institutional investors.


Market could surprise on the upside: Atul Suri

In an interview with ET Now, Atul Suri, trader, talks about the Indian market and shares his outlook for various sectors.


Investors flock to debt-set Crop Funds; Expect rich harvest

Credit opportunities funds or crop funds are structured to deliver higher returns by taking exposure to relatively low-rated but high-yield bonds.



Views on Stocks/Markets

IPO/Global Markets

Rupee / Gold

More 'Market' News



Nifty ends above 5600; FMCG, metals, banks up

Dated:29 June,2011
Market Round-up
SENSEX 18693.86 201.41
NIFTY 5600.45 55.15
NASDAQ 2141.54 17.78
DJIA 10060.06 19.61
RS/$ 46.79 -0.14

NSE Gainers
Scrip Price(Rs.) %Change
Nuchem Ltd.
5.30 + 20.45
Excel Infoways Ltd.
30.00 + 20.00
K S Oils Ltd.
21.90 + 16.49
Kandagiri Spinning Mills
96.00 + 16.01
Hanung Toys & Textiles Lt
143.35 + 14.22

NSE Losers
Scrip Price(Rs.) %Change
Indus Fila Ltd.
17.05 -12.56
Mudra Lifestyle Ltd.
46.00 -10.68
EL Forge Ltd.
13.30 -8.59
Shree Ashtavinayak Cine V
5.20 -7.14
Avanti Feeds Ltd.
34.60 -6.36


Top Headlines

Nifty ends above 5600; FMCG, metals, banks up

Benchmarks ended on a firm note above psychological resistance levels, ahead of June series F&O expiry, taking cues from positive global peers.


Expect sharp rally in Sept for Indian markets: Ambit Capital

September is where you will see fresh money come for India if global growth remains weak, says Andrew Holland of Ambit Capital.


Markets now looking much more stable: Reliance MF

In an interview with ET Now, Sunil Singhania, Head Equities, Reliance Mutual Fund, talks about the market. Excerpts:



Views on Stocks/Markets

IPO/Global Markets

Rupee / Gold

More 'Market' News




I Am No Lameduck Says PM; Sensex Jumps 201 Pts To 2-Mth High

Wednesday, Jun 29, 2011

LEAD STORIES
MKTS END AT 2-MTH HIGH, SENSEX UP 201 PTS
Sensex closed at 18,693.86 points ahead of F&O expiry tomorrow backed by strong FII inflows. Nifty rose 55.15 points to end at 5,600.45. read more
I AM NO LAMEDUCK SAYS PM
On views that UPA was 'comatose' and he was 'lameduck', PM said it was Opposition's propaganda, assured 'truth will prevail' and his work will speak. read more
TATA'S RETIREMENT HOME: ELEGANCE OVER EXTRAVAGANCE
An elegant 13,350 sq ft sea-facing house at Colaba is getting ready to welcome Ratan Tata, as he prepares to hand over the reigns to his successor. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 18693.86 +201.41
NSE 5600.45 +55.15
TURNOVER
Rs. 180,149 cr
BSE CASH
Rs. 3,043 cr
NSE CASH
Rs. 11,422 cr
NSE F&O
Rs. 165,684 cr
BULLION
GOLD 22099 -5
SILVER 51110 +460
CRUDE
NYMEX 102.25 -0.08
BRENT 110.07 +1.29
FOREX
$ / Re 44.85 -0.14
£ / Re 71.814 +0.11
€ / Re 64.494 +0.17
EVENTS

30 June
Deadline For Drafting Lokpal Bill


1 July
ICAI Foundation Day, Vigyan Bhavan, New Delhi


3 July
All-Party Meet On Drafts Of Lokpal Bill


4 July
Supreme Court To Hear Vedanta Case


5 July
2G Scam: Karim Morani's Bail Plea Hearing


6 July
GoM To Meet For Clearance On Coal Blocks


7 July
Bank Employees To Go On Countrywide Strike

EXPERT VIEWS

"India's democracy, slow and cumbersome as it is, provides an assurance that the business environment will not be hostage to unanticipated upheavals."

Lord Swraj Paul
Ex-Deputy Speaker, House Of Lords
"If India is besieged with constant sniping between the government and the opposition, or an atmosphere of cynicism is created all around, the growth impulses and entrepreneurial impulses of the people would not have full play. That worries me the most."

Manmohan Singh
Prime Minister
"My belief is that commerce or banking for the poor is always more viable than commerce or banking for the rich. That's why corporates get money at 7-8% and the poor MFI borrowers get it at a 60% interest rate. It is viable provided you have the ability to do business with the poor."

KC Chakrabarty
Deputy Governor, RBI

WATCH OUT
Ministers of Change
This week on the Ministers of Change we highlight some of the Bihar government's most basic yet forward-looking reforms: public private partnerships to make delivery of social sector schemes more effective and a biometric smart card initiative on the lines of UID to weed out leakages in NREGA. We talk to Nandan Nilekani, Roberto Zagha of the World Bank and social scientist Yogendra Yadav to deconstruct Nitish Kumar's efforts at a New Deal for Bihar.
SHOW TIMINGS
Thur 7:30pm

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