Tuesday, Mar 06, 2012
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SP STORMS TO POWER IN UP; BLOW FOR BSP, CONG
It was a thumping majority for the Mulayam Singh-led Samajwadi Party in Uttar Pradesh Assembly polls. Rahul Gandhi failed spectacularly to deliver a promised comeback for his Congress party in crucial state elections, casting fresh doubt on his capacity to become the next member of a storied dynasty to lead the country. The Congress party flop in UP, India's most politically vital state, was also a blow to the already-tottering government of Prime Minister Manmohan Singh, reducing his scope to re-launch reforms and reverse a slowdown in economic growth. In Punjab, SAD-BJP combined created history by retaining power. In Goa BJP swept Congress out of power while in Uttarakhand BJP, Congress were neck-to-neck. It was only in Manipur Congress stormed back to power. (SEE CHART BELOW FOR RESULTS TALLY) read more |
CONG'S UP MISS MIFFS MKT, SENSEX SKIDS 189 PTS
Up, down and crash that in essence sums up the mood at the Dalal Street on Tuesday as results of 5 States poured in. The fear that the Assembly poll results, particularly UP, may cool reform hopes saw markets swinging swing from heavy buying to heavy selling with Sensex oscillating 500 points to finally the close the day in red. The big losers were ADAG and sugar stocks. Nifty lost 57.95 points at 5,222.40 while Sensex closed at 17,173.29 points. read more |
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| AT A GLANCE |
| BSE | 17173.29 | -189.58 |
| NSE | 5222.4 | -57.95 |
TURNOVER
Rs. 190,240 cr
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BSE CASH
Rs. 2,904 cr
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NSE CASH
Rs. 14,612 cr
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NSE F&O
Rs. 164,752 cr
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| BULLION |
| GOLD | 27780 | -168 |
| SILVER | 57520 | -910 |
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| CRUDE |
| NYMEX | 105.22 | -1.5 |
| BRENT | 122.06 | -1.74 |
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| FOREX |
| $ / Re | 50.36 | +0.52 |
| £ / Re | 79.347 | +0.33 |
| € / Re | 66.062 | +0.22 |
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| ASSEMBLY RESULTS : LEADS/WIN |
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| UTTAR PRADESH/403 SEATS |
 | SP - Leads: 8, Win: 216 |
| BSP - Leads: 5, Win: 75 |
| BJP - Leads: 4, Win: 43 |
| INC - Leads: 1, Win: 37 |
| OTH - Leads: 4, Win: 10 |
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| PUNJAB/117 SEATS |
| SAD+BJP - 68 |
| INC - 46 |
| OTH - 3 |
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| UTTARAKHAND/70 SEATS |
| BJP - Leads: 3, Win: 28 |
| INC - Leads: 3, Win: 29 |
| OTH - 10 |
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| MANIPUR/60 SEATS |
| INC - 42 |
| TMC - 7 |
| NPF - 4 |
| PDF - 1 |
| OTH - 6 |
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| GOA/40 SEATS |
| BJP - 24 |
| INC - 9 |
| UGDP - 2 |
| OTH - 5 |
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| EXPERT VIEWS |
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"We are very glad that the people of Uttar Pradesh have trusted us. We will improve the law and order situation in the state. I knew the results of Congress. They owed an answer for eight years of corruption."
Akhilesh Yadav
Leader, Samajwadi Party
"If a sugar incentive policy was put in place by the Samajwadi government, one should definitely see a revival of that. All of us had invested based on the policy. So, one is hopeful of that cash coming in."
Vivek Saraogi
Managing Director, Balrampur Chini
"This is a very serious issue. I was kept in dark on the issue and have requested the Prime Minister for revocation of the ban as our production is higher this year and farmers are complaining of falling prices."
Sharad Pawar
Agriculture Minister
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| WATCH OUT |
 Taxing Times - Service Tax: Negative? List!
India is a services led economy and over the past few years the government has been adding to the number of services covered by service tax. Now as we migrate (slowly!!!) to a GST it will be important to see how the services sector deals with issues like the proposed negative list, excise credits, place of supply, point of taxation and service tax disputes.
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SHOW TIMINGS
Tue 7 pm
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