Sensex Tumbles 365 Pts; IIP Slumps To 21-Mth Low In July; Suzuki Seeks Divorce From Volkswagen Over Fiat Spat

Monday, Sep 12, 2011 SENSEX TANKS 365 PTS ON IIP NOS, GLOBAL TREMORS   Stock markets fell prey to falling industrial production growth, sliding rupee and rising European woes on the first day of trading week. Sensex dropped 365.23 points, to close at 16,501.74. Nifty managed to hold the 4900 mark amid sell-off, though it lost 112.65 points, to close at 4,946.80. read more   RELIEF FOR MODI, NO SC ORDER ON GUJ RIOTS CASE   In a relief to Gujarat chief minister Narendra Modi, the Supreme Court today refused to pass any order on his alleged inaction to contain the 2002 Gujarat riots after the Godhra carnage. A three-judge bench headed by Justice D K Jain directed the SIT, which is probing the riot cases, to submit its final report before the magistrate in Ahmedabad who was asked to decide whether to proceed against Modi and 63 others, which includes senior government officials. read more   LEAD STORIES INDUSTRIAL GROWTH SLUMPS TO 21-MTH LOW IN JULY   The 3.3% YoY increase in IIP in July is the lowest since the 2.3% in October 2009. The capital goods sector saw a big decline of 15.2%. read more RBI SEEN RAISING RATES ON FRIDAY BEFORE PAUSING: POLL   The RBI is widely seen delivering the last rate increase on Friday as inflation pressures continue to remain strong, say a Reuters poll. read more SUZUKI SEEKS DIVORCE FROM VOLKSWAGEN OVER FIAT SPAT   Suzuki Motor wants to end its two-year-old alliance with Volkswagen after the German carmaker accused it of violating their partnership pact. read more TOP STORIES • Euro zone debt fears send world stocks reeling   • SC has not given clean chit to Modi: Congress   • Industrial growth target may be revisited: Rangarajan   • 'Tight monetary policy reversal to combat slowdown'   • Rupee loses 66 paise, hits 14-mth low of 47.22/$   • Gold down by Rs 150, silver sheds Rs 300   • Let there be transparency in PPP projects: PM   • Plan panel against CAG scrutiny of PPP projs   • CAG seeks powers to evaluate SEBI, IRDA,TRAI   • Sibal approves National Frequency Allocation Plan'11   • Vodafone's Rs 1,500 cr IT deal may open by Sept 20   • Mazagaon Dock, Pipavav ink JV to build warships   • SEBI okays MCX's IPO; Co to sell 12.6% stake   • Bhansali Engg sued for mismanagement, move CLB   • Maruti's Manesar workers stage rally   • Tata Motors launches Vista variant at Rs 3.88 lk   • Blast at French Nuclear site; 1 killed, 4 injured   • Greece has cash until Oct: deputy fin min   • U.K. banks face costly overhaul   • Broadcom to buy NetLogic for $3.7 bn   more stories TOP VIDEOS Demand For Capital Goods Sector To Remain The Same Despite Order Retardations: MS Unnikrishnan, MD, Thermax   The Standard Industry Practices Do Not Mean That You Should Abuse Your Customers Or Consumers: R Prasad, Member, CCI   Acquisition Will Continue To Be A Strategy For The Company: Suresh Senapaty, CFO, Wipro   AT A GLANCE BSE 16501.74 -365.23 NSE 4946.8 -112.65 TURNOVER Rs. 141,396 cr BSE CASH Rs. 2,202 cr NSE CASH Rs. 9,669 cr NSE F&O Rs. 129,523 cr BULLION GOLD 28025 -127 SILVER 64960 -199 CRUDE NYMEX 87.64 +0.4 BRENT 112.13 -0.64 FOREX $ / Re 47.215 +0.74 £ / Re 74.793 +1.22 € / Re 64.425 +1.37 EVENTS 13 September Delhi Court To Decide Rajya Sabha MP Amar Singh's Bail For The 2008 Cash-For-Vote Case 14 September Results Of Cairn Shareholder Vote On Vedanta Deal E-Auction Of Iron Ore Stocks In Karnataka To Begin 15 September CBI To File 3rd Charge Sheet In 2G Scam CVC To Appear Before House Panel For Lokpal bill India Infrastructure Summit 2011, Achieving The Trillion Dollar Dream, The Imperial, New Delhi EXPERT VIEWS "It is necessary to demonstrate that the award, construction and operation of these (highways) projects is based on a fair and transparent approach which eliminates any suspicion of favouritism or what might be described as crony capitalism." Manmohan Singh, Prime Minister "The Supreme Court has said the SIT must put its report before the magistrate (in Ahmedabad)... All this is still to happen and the BJP are claiming they are in the clean and are acquitted. I want to know whether they are privy to inside records of the Supreme Court, the high court or the trial court." Salman Khurshid Law Minister "We have to seriously look at whether we should stick to the policy (monetary) we have used, which is the very standard policy or begin to think out of box." Kaushik Basu Chief Economic Advisor, Govt Of India WATCH OUT   Overdrive   On Overdrive this week, we drive the gorgeous Audi R8 V10 Spyder. Also on the show, a luxury drive through Himachal, auto selector and all this weeks motoring news. SHOW TIMINGS Tue 6:30 pm