Sensex Up 176 Pts; SEBI Asks Sahara Group To Refund OFCD Money; EGoM On Fuel Price Hike Likely On Friday

Thursday, Jun 23, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version SEBI ASKS SAHARA TO REFUND MONEY RAISED VIA OFCDs In a strong order the market regulator SEBI has asked Subrata Roy promoted Sahara group companies to refund money raised via Optionally Fully Convertible Debentures (OFCDs). Besides restraining two Sahara companies from accessing capital markets, it has asked Roy to make OFCDs repayment through Demand Draft or Pay Order. SEBI order also restrains Subrata Roy, Vandana Bhargava, Ravi Shankar Dubey and Ashok Roy Choudhary from associating with any listed or public limited companies. LEAD STORIES MARKETS STAGE SMART PULLBACK, SENSEX UP 176 PTS Sensex closed at 17,727.49 points as oil ministry submitted a proposal for fuel price revision to the EGoM. Nifty rose 41.70 points to end at 5,320. read more EGoM ON FUEL PRICE HIKE LIKELY ON JUNE 24 The EGoM is likely to meet tomorrow to consider a hike in diesel and LPG prices, as well as a cut in duty rates to combat the high cost of crude oil. read more WE ARE READY TO FACE BULLETS FOR LOKPAL BILL: HAZARE Anna Hazare said today he was not afraid of death and dared the government to fire bullets in the event of his going on fast. read more TOP STORIES • Food inflation at two-and-half month high of 9.13% • AirAsia eclipses IndiGo with its $18 bn Airbus order • Hero Honda promoter firm revokes 17.33% stake • M&M hits out at Maharashtra govt for withdrawing sops • With 2.5 cr cases pending, justice put on fast track • Calcutta HC adjourns Singur bill hearing to June 24 • Activist Vandana Shiva joins anti-Posco movement • Air traffic up 17.6% in Jan-May to 24.5 mn, Jet leads • GTL hits yr-low, GTL Infra at all-time low • ICICI to refinance AI loans worth Rs 5,500 cr • Make public RBI advisory note issued to ICICI: CIC • Market-friendly stamp duty norms in two weeks • IRDA crackdown on misselling by banks • Force Motors to launch SUVs priced Rs 10 lk in July • General Motors shelves small car project in India • Yash Birla Grp to make silicon wafers, solar cells • Cabinet defers decision on freeing DAP prices • Govt plans Rs 2,500 cr overseas ports company • Govt to shelve proposed Express Highway Authority • Shiv Nadar, Azim Premji on Forbes 'Philanthropy List' more stories TOP VIDEOS I See Signs Of Consumer Demand Slowing Down And That's Not A Good Sign: B Muthuraman, President, CII I Have Not Seen Such Low Investor Sentiment On The Oil Sector Throughout My Time With ONGC: RS Sharma, Former Chairman, ONGC < /a> While The Visa Issue Continues We Are Finding Ways Of Doing Business Through Video Conferences, Onsite Recruitment: N Chandrasekaran, MD & CEO, TCS AT A GLANCE BSE 17727.49 +176.86 NSE 5320 +41.7 TURNOVER Rs. 126,257 cr BSE CASH Rs. 2,520 cr NSE CASH Rs. 9,039 cr NSE F&O Rs. 114,698 cr BULLION GOLD 22445 -291 SILVER 53051 -1587 CRUDE NYMEX 102.25 -0.08 BRENT 108 -6.21 FOREX $ / Re 44.95 +0.13 £ / Re 71.606 -0.03 € / Re 63.486 -0.41 EVENTS 23-26 June Auto World Expo, Chennai Trade & Convention Centre, Chennai 24 June Calcutta High Court To Adjourn Singur Bill Hearing The Real Estate Conclave, Taj Mahal Palace, Mumbai Conference On Mining, Opportunities & Challenges, Taj Deccan, Hyderabad 27-28 June 4th Annual Conference On Solar Power In India, ITC Maurya, New Delhi 30 June Deadline For Drafting Jan Lokpal Bill SEBI To Discuss On NSDL's Role In IPO Scam EXPERT VIEWS "Anna is not afraid of death. They can fire bullets and not just use lathis to repress our agitation and the people of this country will decide whether India has a democratic rule or a dictatorship. Congress seems determined to crush our agitation for a strong Lokpal." Anna Hazare Social Activist "Such reversal in policies (octroi concession) not only upsets the plans that the investing companies have put in place, it will also severely impact all new investments in the state by existing and new potential manufacturing companies." Pawan Goenka President, M&M "Land acquisition problem for projects like Posco is not confined to Orissa... We should try to avoid acquisition of agricultural land for setting up industries. Efforts should be to locate industrial units in barren areas. It will substantially reduce the scope for resistance." DS Rawat Secretary General, ASSOCHAM WATCH OUT Bazaar Morning Call Hosted by Udayan Mukherjee and Mitali Mukherjee, Bazaar is the benchmark market opening show in the country. Widely acclaimed and winner of leading industry awards, Bazaar sets the tone for the trading day for millions of Indian investors. SHOW TIMINGS Weekdays 8am