CBI Says Swan A Reliance ADAG Front Co; Sensex Down 66 Pts

Thursday, Jul 21, 2011 Click here for India Business Update Mobile Version LEAD STORIES 2G SCAM: CBI SAYS SWAN A RELIANCE ADAG FRONT CO The CBI claimed that Swan Telecom is a front company of Reliance ADAG. It also allowed the I-T dept to interrogate A Raja and the six accused. read more SENSEX DOWN 66 PTS ON WEAK GLOBAL CUES Sensex closed at 18,436.19 points due to marginal fall in European markets ahead of EU Summit. Nifty fell 25.45 points to end at 5,541.60. read more TOP STORIES • Monsoon picks up, 7% above normal in past week • Food inflation slips to 3-wk low of 7.58% • I-T dept raids IRB Infra, IVRCL offices • 'Substantive, voluminous evidence against K'taka CM' • Team Anna initiates referendum on Lokpal Bill • Banks' exposure to Noida realty close to Rs 1,200 cr • Cabinet defers decision on RIL-BP deal • Hero Honda Q1 net up 13% at Rs 557.89 cr • Kotak Mahindra Bank Q1 net up 27% to Rs 416 cr • L&T Finance sets IPO price band at Rs 51-59/sh • REpower starts squeeze out of minority shareholders • Philips recalls 95,000 hair dryer units over safety issue • Cabinet approves bill to deal with benami transactions • Cabinet OKs 50% reservation for women in Panchayats • IPL case: Ravi Shastri summoned by ED • Euro Zone agrees on Greece aid, to allow for default • Express Scripts to buy Medco for $29 bn • China factory sector shrinks in July, first time in a yr • Nokia posts $521 mn loss in Q1, first in 1.5 yrs • Atlantis makes last journey home, shuttle era ends more stories TOP VIDEOS What Worries Me Most In The Present Situation Is Governance, Administrative Decisions And Inflation: Bimal Jalan, Former Governor, RBI As Long As Atal Bihari Vajpayee Was In Active Politics, I Thought Here Is A Person We Should Work For: Arun Shourie, Former BJP Leader Despite Our Opposition Foreign Direct Investment Was Permitted In Single Brand Retail: Yashwant Sinha, Chairman, Parliamentary Standing Committee On Finance The Government Should Not Act As An Intermediary Or Even As A Facilitator In The Acquisition Of Land By Private Parties: Saugata Roy, Trinamool Congress Minister Of State For Urban Affairs AT A GLANCE BSE 18436.19 -66.19 NSE 5541.6 -25.45 TURNOVER Rs. 121,228 cr BSE CASH Rs. 2,683 cr NSE CASH Rs. 9,986 cr NSE F&O Rs. 108,558 cr BULLION GOLD 23030 -79 SILVER 58975 -204 CRUDE NYMEX 102.25 -0.08 BRENT 118.85 +0.7 FOREX $ / Re 44.5 +0.05 £ / Re 72.526 +0.92 € / Re 64.04 +0.88 EVENTS 22 July FDI In Multi-Brand Retail Secretaries Meet Board Of Approval To Decide On Setting Up New SEZs Amar Singh To Be Questioned By Delhi Police In Cash-For-Vote Scam 26 July RBI's Credit Policy Review 5th India Steel Summit, Le Meridien, New Delhi 27 July EPFO's Central Board Of Trustees Meet To Appoint A Separate Custodian For Its Securities L&T Finance's IPO To Open Foreign Ministers Of India & Pakistan Meet To Discuss All Aspects Of Bilateral Relations 7th International Special Economic Zones Convention, Le Meridien, New Delhi EXPERT VIEWS "The Chief Minister of Karnataka has had a long inning of defending himself against charges of corruption... Now Lokayukta in his report seems to have made a very clinching set of charges against him... If in such an atmosphere so serious charges have been levelled against anybody in public life, he should obviously think over it whether he can walk proudly even after all this." Ambika Soni Information And Broadcasting Minister "We will be approaching around seven lakh house-holds in Chandni Chowk constituency from where Sibal had won. He is the government's face of Lokpal. So we decided to hold the referendum in his constituency. We will visit houses, leave questionnaire and collect it two days later." Arvind Kejriwal Social Activist "The demand to prevent a selective default (of Greece) has been removed. You can never exclude such a possibility, but everything should be done to avoid it." Jan Kees de Jager Dutch Finance Minister WATCH OUT High Wired Tata Aria and CNBC-TV18 present High Wired, a special series that profiles the highest achievers in Indian business, their inspiration, their motivation and how they manage to switch roles and achieve the objectives of the two roles they play. This week we speak to Mahesh Mathai renowned filmmaker with a foot in the music business. Find out how he straddles both worlds successfully. SHOW TIMINGS Sat 6:30 pm Sun 10 am