Sensex closed at 18,722.30 up 286 Pts; Lokpal Bill Ready To Be Tabled In Parliament

Friday, Jul 22, 2011 Click here for India Business Update Mobile Version LEAD STORIES CABINET APPROVES $7.2-BN RELIANCE-BP DEAL After nearly five months wait, the government today cleared UK's BP Plc buying 30% stake in 21 RIL oil and gas blocks, instead of 23. read more GREECE BAILOUT HELPS SENSEX TO RALLY 286 PTS Sensex closed at 18,722.30 points as second bailout package of $157 bn was announced for Greece. Nifty rose 92.35 points to end at 5,633.95. read more LOKPAL BILL READY TO BE TABLED IN PARLIAMENT Government said that the Lokpal Bill is ready to be tabled in the Monsoon Session of Parliament and will be presented to the Cabinet next week. read more RAJA FORCED BSNL TO INK DEAL WITH SWAN: CBI The CBI today produced more evidence of corruption against former telecom minister A Raja in the 2G scam probe. read more TOP STORIES • Karnataka Guv promises action on Lokayukta report • Delhi cops grill Amar Singh in cash-for-vote scam • SC okays CBI probe into Jagan Reddy's wealth • Rupee gains 15 paise, closes at 2-wk high of Rs 44.35/$ • Govt to allow foreign invst in MFs from Aug 1 • RIL inks JV with UXA for uranium exploration • Bharti Airtel hikes call tariff by 20%; stock up 3.5% • Reliance Infra comes under RTI Act • Union Bank of California cancels Infosys deal • Vodafone Essar in race for Qualcomm's BWA spectrum • Deccan Chronicle in talks with Adani to sell T-20 team • Axis Bank Q1 net up 27% to Rs 942 cr • Godrej Properties Q1 net falls 55% to Rs 10 cr • High crude price push Jet Q1 loss to Rs 123 cr • CavinKare enters confectionery biz with Re 1 candy • Tata's Trent inks 2nd retail JV with Inditex Grp's Zara • Govt proposes national optical fibre network at $4.5 bn • Now, Prime Minister's Office in reshuffle mode • I-T raids Malayalam stars Mohanlal, Mammooty homes • 56 cricketers approached by bookies last year: Waugh more stories TOP VIDEOS Even At The Cost Of Going Wrong, I Would Say Markets Will Remain Range Bound Between 17,500 to 19,500 For A While: Nilesh Shah, President - Corporate Banking Division, Axis Bank India Is Becoming More Attractive Again But It Is Not As Attractive As China: Jim O'Neill, Head - Global Economic Research, Goldman Sachs The Greece Bailout Package Will Bode The Sentiment And Confidence Required To See Equities Rally: James Chirnside, MD, Asia Pacific Asset Management Looking At The High Level Of Greece Debt GDP, Another Bailout Cannot Be Ruled Out: Alastair Newton, Senior Political Analyst, Nomura International AT A GLANCE BSE 18722.3 +286.11 NSE 5633.95 +92.35 TURNOVER Rs. 169,365 cr BSE CASH Rs. 3,117 cr NSE CASH Rs. 11,658 cr NSE F&O Rs. 154,590 cr BULLION GOLD 23121 +228 SILVER 59464 +1389 CRUDE NYMEX 102.25 -0.08 BRENT 117.7 +0.19 FOREX $ / Re 44.35 -0.15 £ / Re 72.197 +0.01 € / Re 63.589 -0.09 EVENTS 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 28 July SEBI Meet On Achuthan Takeover Code Report SEBI Board Meet To Take Up NSDL Issue 1 August Monsoon Session Of Parliament Begins FM To Meet Corporate Honchos To Discuss Ways To Rejuvenate The Economy EXPERT VIEWS "The Lokpal Bill is now ready and it will be moved to the Cabinet...As promised by UPA-II, by this government, we shall introduce this Bill as soon as possible in the Monsoon session of Parliament." Kapil Sibal Telecom Minister "Telecom is probably the only industry where despite increasing inflation, tariffs have been falling unabatedly. Continuously declining margins, high 3G & BWA auction prices, constrained spectrum and rural roll out aspirations leave us with little choice but to make some price corrections." Bharti Airtel Press Statement "More than 90% of all the pensions are actually in the LIC. There is such a huge concentration in one institution. I think that is a recipe for high risk. Therefore, we must build up mechanisms which allow other companies also to participate actively in the pension market." J Hari Narayan Chairman, IRDA WATCH OUT BMW - A driving obsession CNBC goes inside BMW to discover the essence of one of the most successful brands where every dimension of the cars and company is engineered in search of perfection. This is the fascinating story behind a once small, struggling company that transformed itself into a global luxury car powerhouse, and is now going flat out to maintain its edge. SHOW TIMINGS Sat 4:30 pm, 11 pm Sun 5 pm