SENSEX LOSE EARLY GAINS ON RATE HIKE FEARS, UP 153 PTS

Monday, Oct 24, 2011 CNBC TV18 POLL: RBI TO HIKE REPO RATES BY 25 BPS   Reserve Bank Governor D Subbarao's Diwali gift this year is likely to be another round of rate hike. CNBC TV18 Poll shows 80% of the street expects a 25 basis point hike in repo rates and 60% feel that the Reserve Bank is likely to revise its FY12 inflation target to below 8%. read more   RBI SURVEY LOWERS GDP GROWTH TO 7.6% VS 7.9%   The RBI today released the Macroeconomic and Monetary Developments Second Quarter Review 2011-12. The Survey lowered FY12 GDP growth to 7.6% vs 7.9%. The document serves as a background to the Monetary Policy Statement that will be announced tomorrow. read more   LEAD STORIES SENSEX LOSE EARLY GAINS ON RATE HIKE FEARS, UP 153 PTS   Inspite of a good start, the markets lost its early gains on rate hike fears. Nifty closed 5,098.35 up by 48.40 points. Sensex closed at 16,939.28. read more INDIA TO GROW FASTER THAN CHINA: E&Y   India is projected to grow at a faster clip than China with a 9% economic expansion in 2013, says a report by global consultancy firm Ernst & Young. read more ZENITH INFOTECH SUED BY BONDHOLDERS OVER DEFAULTS   Bondholders of Zenith Infotech have sued the company over defaults of foreign currency convertible bonds. The case comes up for hearing on October 26. read more TOP STORIES • Fujitsu emerges sole bidder for L&T Infotech • Cabinet may discuss manufacturing policy tomorrow   • Debt sales to rise to unprecedented level in '12: KPMG   • Rupee recovers 19 paise to 49.82-83/dollar   • Steel output up 5.3% vs world's 8.2% during Jan-Sept   • One F1 team burns 2 lakh litres of fuel in a season   • Shiney Ahuja's legal notice to Micromax for 'Bai ad'   • ITC Q2 net up 21% at Rs 1,514cr on strong FMCG sales   • Union Bank disappoints, Q2 net up 16% at Rs 353 cr   • GAIL Q2 net up 19% to Rs 1,094 cr   • Cash-for-votes scam: Amar Singh gets bail   • 2G: Kanimozhi, 6 others to spend Diwali in jail   • 2G case: Hearing on plea against Chidu deferred   • 2G case: Reliance Telecom moves Delhi HC   • UAE's Etisalat Indian unit to fight 2G charges   • Ohio State University to open office in Mumbai   • Kiran Bedi offers to return overcharged money   • Turkey quake death toll exceeds 200, set to rise   • Oracle to buy RightNow for $1.5 bn   • RK Laxman: 'The Common Man' creator turns 90   more stories TOP VIDEOS Expect RBI To Hike Rates By 25 Basis Points: Prabhat Awasthi, Head Of Equity Research & MD, Nomura Financial Advisory & Securities   Markets Are Headed For Disappointment During Eurozone Summit: Arjuna Mahendran, MD, Head Investment Strategy Asia, HSBC Private Bank   We Would Be A Billion Dollar Company This Year, Very Near To Rs 5,000 Crore Mark: Sanjay Lalbhai, CMD, Arvind Ltd   If Euro Zone Meeting Shows Good Resolve, The Rupee May See Some Bounce Back: Soumyo Dutta, MD & Head Fxlm Trading And Risk Treasury, Citibank   AT A GLANCE BSE 16939.28 +153.64 NSE 5098.35 +48.4 TURNOVER Rs. 163,142 cr BSE CASH Rs. 1,954 cr NSE CASH Rs. 8,907 cr NSE F&O Rs. 152,281 cr BULLION GOLD 26825 +57 SILVER 53350 +316 CRUDE NYMEX 89.38 +1.98 BRENT 110.18 +0.62 FOREX $ / Re 49.82 -0.2 £ / Re 79.493 +0.03 € / Re 69.15 +0.06 EVENTS 25 October Second Quarter Review Of Monetary Policy 2011-12 Cabinet To Take Up Wage Board Issue For Journalists And Non-journalists Employees 26 October Petition Against Zenith Infotech By Bondholders Comes Up For Hearing At Bombay High Court Muhurat Trading Session Eurozone Summit, Brussels 28 October Land Scam: Bail Plea Of Katta Subramanya Naidu, Bangalore Former Karnataka Chief Minister B S Yeddyurappa's Bail Plea, Bangalore 30 October Formula One India Grand Prix, Buddh International Circuit, Greater Noida EXPERT VIEWS "On inflation, it (rate hike by RBI) will not have much impact in the short-term. Rate hikes are aimed at bringing down inflationary pressures in the long-term. I am hopeful of 8% plus economic growth this fiscal." Pronab Sen Principal Adviser, Planning Commission "As far as the differences between France and Germany are concerned, I can assure you after numerous meetings... that we are working in a spirit of compromise, in a spirit of having the ambitious package to reassure the rest of the world of our determination to safeguard the financial stability of the euro zone." Herman Van Rompuy President, European Council "In order to ensure our future survival, WikiLeaks is now forced to temporarily suspend its publishing operations and aggressively fundraise in order to fight back against this blockade and its proponents. This 'unlawful financial blockade' has destroyed 95% of its revenues, leaving the website near-broke." Julian Assange Founder, Wikileaks WATCH OUT   Rules of the M&A Game: 2011   14 years after it first came into effect and 23 amendments later, India's Takeover Code is about to change. On October 23rd, a new Takeover Code will determine the business of buying and selling companies in India. Starting this weekend 'The Firm' presents a special series 'Rules Of The M&A Game: 2011' to examine the impact of the new Takeover Code on Promoters, Acquirers & Public Shareholders. SHOW TIMINGS Tue 5:30 pm