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

Wednesday, Jun 29, 2011 Click here for India Business Update Mobile Version 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 • Relief for Tatas, SC stalls return of land to farmers • SC refuses immediate hearing on Lokpal Bill petition • Pranab rules out rollback in prices of LPG, diesel • Welspun inks Rs 2,250-cr PE deal with Apollo • Rupee up 17 paise to 1-wk high of 44.86/$ • Silver snaps 5-day losing streak, up Rs 650 • MP's panel defers adopting report on FDI in insurance • Maharashtra reduces VAT on kerosene, diesel by 2% • Posco work remains stalled; villagers invited for talks • Pfizer files suit against Aurobindo on Lipitor generic • ONGC board approves papers for proposed FPO • Groupon's India subsidiary leaks 3 lk subscribers' data • Banking for the poor more viable than for the rich: RBI • Foreign fund flows to India weakest in emerging mkts • Rs 1 lakh cr investment subsidy for electronics sector • Indian govt ranks 3rd in snooping through Google • Greek Parliament votes in favour of austerity package • BofA nears $8.5 bn mortgage settlement • Coca-Cola FEMSA agrees merger in $790 mn deal • Google unveils social network to challenge Facebook more stories TOP VIDEOS If More Launches Are In The Pipeline, It Is Better For The Auto Industry; Instead Of Gloom You Will Have Some Excitement: Jagdish Khattar, Chairman & MD, Carnation Auto I Do Not Think Oil Will Collapse; I Think We May Go Down To $ 80-85 And Then Have Further Strengthening In The Years Ahead: Mark Faber, Editor & Publisher, The Gloom, Boom & Doom Report Is Crude Coming Down Going To Solve Inflation Problems In India? I Think It Will Be How The Monsoon Turns Out To Be: Arvind Sanger, MD, Geosphere Capital 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