Sensex Up 86 Pts | Narendra Modi Launches Campaign For Gujarat Assembly Poll

Tuesday, Sep 11, 2012 LEAD STORIES SENSEX REBOUNDS ON FUEL PRICE HIKE HOPE; UP 86 PTS   Sensex opened in red at 17,711.80 on weak Asian cues but recouped losses on fuel price hike hopes to close at 17,852.95. Nifty up 26.55 pts at 5,390.0 read more CABINET MEET DEFERRED; BUT FUEL PRICE HIKE UNAVOIDABLE   While Oil minister maintained that fuel price hike is unavoidable, political pressure from within the UPA forced the postponement of CCPA meeting. read more GUJARAT POLL: NARENDRA MODI SEEKS 4TH TERM   Seeking 4th term in office Gujarat CM Narendra Modi accused Cong of "misusing" CBI to target him & demanded that PM face SIT probe in coal block scam. read more TOP STORIES • Steps to check deficit, boost growth on anvil: FinMin   • Rs 2,410 cr FDI cleared including Pfzer's Rs 800 cr   • Novartis argues for Glivec patent at Supreme Court   • IVRCL wakes up to hostile takeover threat   • RIL to exit almost all overseas oil & gas blocks   • RIL signs deal with Cisco for core tech 4G framework   • Govt considers liberalising ECB norms   • Moody's to cut U.S. rating if debt-to-GDP not reduced   • 'Bankers exposure to Deccan Chronicle is Rs 5,000 cr'   • 321 mn users opted for number portability in 2012   • TN: Kudankulam protesters start 48 hrs fasting   • NIIT, Microsoft partner to offer cloud computing   • Asia's copper usage down except in China: Hindalco   • Telecom tariff war to end in three years: TRAI   • SC lays down new media coverage doctrine   • File revised lawsuit against TAM: NY court tells NDTV   • Cybercrime cost India $8 bn in 2011: Norton   • Cartoonist Trivedi granted bail; refuses to take it   • Murray wins U.S. Open, ends 76-yr British wait   • Jeet Thayil on Man Booker shortlist   more stories TOP VIDEOS Oil Price Hike Is Unavoidable; Can't Say To What Extent Prices Will Be Hiked: Jaipal Reddy, Oil Minister   Confident That Austerity Will Gradually Subside. Expect To Return To Growth In 2013: Mario Monti, Prime Minister, Italy   AT A GLANCE BSE 17852.95 +86.17 NSE 5390 +26.55 TURNOVER Rs. 121,121 cr BSE CASH Rs. 1,732 cr NSE CASH Rs. 8,119 cr NSE F&O Rs. 99,198 cr BULLION GOLD 31917 -7 SILVER 64100 +76 CRUDE NYMEX 96.98 +0.44 BRENT 114.91 +0.1 FOREX $ / Re 55.34 -0.1 £ / Re 88.854 +0.23 € / Re 71.029 +0.29 EVENTS TO WATCH 12 September July Industrial Output Data Inter-Ministerial Panel To Review Captive Coal Mines Finance Minister P Chidambaram To Chart Out Investment Plans With Heads Of 9 PSUs, New Delhi Infrastructure Today Leadership Summit 2012, Hotel Lalit, New Delhi Inspiring Confidence In Indian Business Organised By IICA, Hotel Le Meridien, New Delhi 14 September August Headline Inflation

"We have circulated a note to all CCPA members on under recoveries which will exceed Rs 188,000 cr. I had a meeting with Finance Minister on the same. Increase in oil is prices unavoidable. We will have to perform the unpleasant job of hiking prices." Jaipal Reddy Oil Minister "Projects in road and petroleum awaiting clearances amount to more than Rs 1.5 lakh crore. These projects will be taken up in Cabinet meeting. We are also planning to allow Indian companies convert Indian loans into foreign loans. Food inflation needs to be tackled so that it gives RBI comfort to relook at monetary policy." Arvind Mayaram Secretary, Economic Affairs "I have faced multiple probes, now let the Prime Minister face a SIT probe on coal block allocations. To corner me, they form an SIT whenever they want to." Narendra Modi Chief Minister, Gujarat

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