Now, Arvind Kejriwal Targets Mukesh Ambani; How Sahara Q`s Equity Cap Rose To Rs 2,000 Cr In A Year; Sept Infra Output Doubles To 5.1%; Sensex Up 74 Pts

Wednesday, Oct 31, 2012 NOW, ARVIND KEJRIWAL TARGETS MUKESH AMBANI Jaipal Reddy was removed as petroleum minister for refusing a proposal of Mukesh Ambani-led Reliance Industries to hike the charges of the gas it was supplying to state-owned power plants, said India Against Corruption member Arvind Kejriwal. He demanded that the Krishna Godavri basin allotted to the company be cancelled. According to Kejriwal, RIL, in 2000, agreed to supply gas to NTPC for the next 17 years at $2.5 per unit. But, this was revised to $4.25 in 2007. Now it wants to hike the rate further to $14.25 per unit, said Kejriwal at the Press Conference. read more   LEAD STORIES HOW SAHARA Q'S EQUITY CAP ROSE TO RS 2,000 CR IN A YEAR   SEBI's discomfort with Sahara Q stems from the fact that in less than a year, the company's equity capital has shot up to over Rs 2,000 cr. read more SEPT INFRA OUTPUT DOUBLES TO 5.1%   Infrastructure sector output grew 5.1% in September from a year earlier, higher than an upwardly revised annual growth of 2.3% in August. read more METAL, AUTO STOCKS HELP MKTS RECOVER; SENSEX UP 74 PTS   Sensex rebounded on emergence of value-buying in metal, auto & pharma amid firming global cues. Sensex closed 18,505.38. Nifty up 21.8 pts at 5,619.7. read more CYCLONE NILAM HITS TN COAST WITH STRONG WINDS   Cyclone 'Nilam' made landfall over North coastal TN & Puducherry even as MET dept warned of extensive damage to huts, standing crops & power lines. read more TOP STORIES • Sandy aftermath: U.S. stocks rise after 2-day shutdown   • Rupee rebounds from 6-wk lows, up 18 paise at 53.80/$   • RIL's KG-D6: Oil Ministry postpones CAG meeting   • 'I'm clean', probe Robert Vadra for 'taint': Gadkari   • FIIs net investment in India crosses $150 bn mark   • MCX-SX to kickstart trading in equities on Nov 18   • Haldia port cargo handler firm ABG pulls out of WB   • Fraport to exit Delhi airport JV by June   • Videocon D2H plans $150-200 mn IPO   • GE Cap picks stake in Biocon subsidiary for Rs 125 cr   • Fidelity Growth invests Rs 400 cr in Trivitron   • Portman to invest $300 mn in Indian real estate   • Biocon Q2 net up 4.6% at Rs 89.94 cr, beats street   • Titan Q2 net up 21% at Rs 180 cr   • ArcelorMittal logs $709 mn Q3 loss   • Cairn India declares maiden dividend of Rs 5/share   • Tata Motors mktcap can touch $30 bn by 2017   • Used car retailers on expansion spree   • Barclays hit by fresh U.S. probe into corrupt practices   • Disney buys George Lucas's firm for $4.05 bn   more stories TOP VIDEOS INDIANOMICS: Govt Is Sensitive About The Need To Expedite Projects. There Is Scope For Further Easing In Rates In Q4: D Subbarao, Governor, RBI   BIOCON Q2 BOARDROOM: Biopharma Biz Gaining Traction In EMs, U.S. Market. Good Opportunity For Insulin Biz In Emerging Markets: Kiran Mazumdar Shaw, CMD, Biocon   GLENMARK Q2 BOARDROOM: May Not See 35% Growth In H1 Sustaining In H2: Glenn Saldanha, MD & CEO, Glenmark   AT A GLANCE BSE 18505.38 +74.53 NSE 5619.7 +21.8 TURNOVER Rs. 118,974 cr BSE CASH Rs. 1,889 cr NSE CASH Rs. 9,992 cr NSE F&O Rs. 86,844 cr BULLION GOLD 31116 +27 SILVER 59808 +410 CRUDE NYMEX 86.38 +0.7 BRENT 109.19 +0.11 FOREX $ / Re 53.8 -0.16 £ / Re 86.596 -0.15 € / Re 69.779 -0.15 EVENTS TO WATCH 2 November CNBC-TV18's India Business Leader Awards 2012, NCPA, Mumbai 2-3 November CII: 20th National Quality Summit, Vivanta By Taj, Bangalore 6 November U.S. Presidential Election 8 November SC To Hear Matter Regaring Cancellation Of Tata Tele Spectrum 18th National Congress Of The Chinese Communist Party, Beijing 12 November 2G Auction For Spectrum Allocation Begins

"If gas was charged at $14.25/unit, then the cost of electricity would rise to Rs 7/unit from the current Rs 3. Jaipal Reddy wrote a note stating that if the price of gas were made $14.25/unit, then the country would suffer a loss of Rs 45,000 cr & RIL would make a profit of Rs 45,000 cr...It seems Mukhesh Ambani runs the government. Not Manmohan Singh. Both the Congress and the BJP are in Ambani's pocket." Arvind Kejriwal India Against Corruption "IAC statements are devoid of any truth or substance. The deep water exploration project in the KG-D6 basin has added great economic value to the country and by all accounts is a project of which India can be justly proud. Irresponsible allegations made by IAC at the behest of vested interests without basic understanding of the complexities of a project of this nature do not merit a response." Reliance Industries Press Statement "I have no business links with Ajay Sancheti or Sharad Pawar. Kejriwal's allegation that I grabbed farmers' land is false. Farmers' land that I am accused of usurping is on the dais with me. I worked for the welfare of Vidharba farmers. I am a social entrepreneur." Nitin Gadkari President, BJP

Reserve Bank of india left key interest rate unchanged but reduced CRR by 0.25%; Sensex Tanks 204 Pts; Hurricane Sandy Pounds U.S. East Coast

Tuesday, Oct 30, 2012 Reserve Bank left key interest rate unchanged but reduced CRR by 0.25% RBI CUTS CRR BY 25 BPS, REPO RATE UNCHANGED   Showing concerns over hardening inflation, the Reserve Bank left key interest rate unchanged but reduced CRR by 0.25% to infuse additional liquidity of Rs 17,500 cr into the system. With today's changes CRR now stands at 4.25% while repo rate and reverse repo remain unchanged at 8% and 7% respectively.(SEE TOP VIDEOS) read more   CHIDAMBARAM SLAMS DEFIANT RBI ON RATES   The Finance Minister P Chidambaram was apparently upset over RBI's decision to leave interest rates unchanged on inflation concerns despite the government unveiling a five-year fiscal consolidation road map ahead of the policy. read more   RBI DISAPPOINTS MARKETS; SENSEX TANKS 204 PTS   Sensex today shed 204 points to close at over five-week low of 18,430.85 on selling in banks and other rate-sensitive stocks after RBI dashed hopes of a rate cut. Sensex rose by over 80 points in early trade on the back of hopes of a rate cut after the government yesterday announced a fiscal consolidation plan. Nifty was down 67.70 points to end 5,597.90. read more   LEAD STORIES HURRICANE SANDY: NY FLOODS, MILLIONS WITHOUT POWER   Prez Obama declared "major disaster" in New York state after storm Sandy smashed into East Coast, leaving at least 11 dead & over 6 mn without power. read more COASTAL TN, AP BRACE FOR CYCLONE 'NILAM' TOMORROW   Coastal districts of Tamil Nadu & Andhra Pradesh brace for a cyclonic storm that is to hit tomorrow, as incessant rains hit normal life in Chennai. read more TOP STORIES • India Inc disappointed, expects repo cut in Q3   • RBI ups March-end inflation projection to 7.5%   • RBI steeply hikes banks provisioning for CDR assets   • I-T probes alleged shell cos in Gadkari-promoted Purti   • Rupee belies expectations, gains 10 paise at 53.98/$   • HC dismisses Mumbai builder's petition against VAT   • Indian consumer confidence tops world   • Maruti Suzuki Q2 net drops 5.4% to Rs 227 cr   • Dr Reddy's Lab Q2 net up 32% at Rs 407 cr; beats street   • Mahindra Satyam Q2 net falls 21% to Rs 277 cr Q-o-Q   • Tata Teleservices reports Rs.183.71 cr loss   • LIC trims holding in 15 Sensex cos by $1 bn   • Section of Hyundai workers on strike   • Kingfisher revival plan: Mallya meets Aviation Secy   • All Nippon Airways launches Delhi-Tokyo daily service   • UBS India i-banking head Ashok Mittal resigns   • Govt clears India-Pak series; 1st ODI on Dec 25   • Pesky messages bothering Telecom Minister as well   • Mamata backs Anna, says Parl must be dissolved   • "Skyfall" breaks Bond's UK box office record   more stories TOP VIDEOS RBI Has Relaxed Stance, But Tried To Contain Expectations. RBI Will Have To Tweak Interest Rates In Q1CY13: Pronab Sen, Member, Planning Commission   RBI Has Taken A Cautious Stance Given Inflation. Growth Rate For FY13 Likely To Be Closer To 6%: C Rangarajan, Chairman, PMEAC   AT A GLANCE BSE 18430.85 -204.97 NSE 5597.9 -67.7 TURNOVER Rs. 168,656 cr BSE CASH Rs. 2,114 cr NSE CASH Rs. 10,357 cr NSE F&O Rs. 136,151 cr BULLION GOLD 31061 -33 SILVER 59556 +164 CRUDE NYMEX 85.89 +0.35 BRENT 108.79 -0.65 FOREX $ / Re 53.96 -0.12 £ / Re 86.773 +0.09 € / Re 69.943 +0.17 EVENTS TO WATCH 31 October Oil Ministry, RIL Meet On KGD6 Audit 1-2 November Morningstar Investment Conference 2012, Grand Hyatt, Mumbai 2 November CNBC-TV 18's India Business Leader Awards 2012, NCPA, Mumbai 2-3 November CII Institute Of Quality's 20th National Quality Summit, Vivanta By Taj, Bangalore 6 November U.S. Presidential Election

(Defending RBI's stance)"I think both the government and the RBI share concerns about growth and inflation. We are as much concerned about growth as inflation, only our balance will be shifting. And about the finance, if you are asking, about the ministers statement, then you should ask him." D Subbarao Governor, RBI (Slamming RBI's stance)"If the government has to walk alone to face the challenge of growth, we will walk alone. Government is doing its best to send a clear message that we are on the path of fiscal consolidation. It is my hope that everyone will read and understand government's commitment to fiscal consolidation." P Chidambaram Finance Minister "I still hold CRR is a waste for the economy. But anyway, it has been cut by 25 bps...But I do not think the 10 rate cuts that happened over the last few quarters helped in lowering inflation because today's inflation is largely cost pushed. It is not so much due to demand-pull. So, to try to address that with rate of interest as an instrument may not be very helpful." Pratip Chaudhuri Chairman, SBI

United Spirits tanks 17% on Diageo deal uncertainty

	Dated:29 October,2012

Top Headlines Sensex erases gains, ends 10 pts up ahead of RBI policy meet

Sensex erased most of its early gains to close 10 points up amid the government unveiling a five-year road map for fiscal consolidation.

India will dominate, no other market can compete: Shankar Sharma

I do not see any other country competing with India forget the stock market. The big call is that India will dominate, says Sharma.

United Spirits tanks 17% on Diageo deal uncertainty

United Spirits dropped over 17% in trade today after media reports quoting Mallya stated that he has not reached a deal to sell a stake to Diageo.


Views on Stocks/Markets

• Brokerages maintain 'buy' on ICICI Bank

• Bullish on RIL, Moily's entry a big positive: Microsec

• Credit Suisse upgrades Wipro ahead of Q2 earnings

IPO/Global Markets World stocks down

• China shares at 1 mth-low

• Demands rise for US junk bonds

Rupee / Gold

• Rupee falls, ends at 54.08

• Gold futures rise by Rs 51

• Gold gains Rs 125

More 'Market' News

• United Breweries bounces back from lows, hits 52-week high

United Breweries bounced back from its lows to hit its 52-week high of Rs 792 after Citigroup said it could be the next to get added in the MSCI India index.

• Jefferies downgrades Hindustan Unilever

Jefferies downgrades HUL to 'underperform' from 'hold' saying the recent growth in revenue would prove "unsustainable".

• BHEL tanks 6% on order book concerns, analysts turn cautious

Shares BHEL came under pressure and dropped over 6 per cent after it reported below-estimates net profit for the September quarter.

Market Round-up SENSEX 18635.82 10.48 NIFTY 5665.60 1.30 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change Eurotex Industries & Expo 19.60 + 18.79 Keynote Corporate Service 38.50 + 17.02 BPL Ltd. 21.40 + 13.23 Vinati Organics Ltd. 126.45 + 11.75 Bartronics India Ltd. 25.80 + 11.21 NSE Losers Scrip Price(Rs.) %Change Orissa Minerals Developme 4,450.80 -90.41 Talwalkars Better Value F 193.05 -11.53 Venky's (India) Ltd. 522.40 -10.53 Geometric Ltd. 101.20 -10.40 Impex Ferro Tech Ltd. 5.60 -9.68

Sensex Ends Flat; Hurricane Fear Shuts Down NYSE

Hurricane Fear Shuts Down NYSE                                                 Monday, Oct 29, 2012 BANKS' FINANCIALS A PACK OF LIES, RBI MUM: AMBIT   Brokerage house Ambit feels that Indian banks' financial numbers are not "worth the paper they are written on" and is of the view that the Reserve Bank of India is turning a blind eye to the rampant cooking of books by both private and public sector banks. read more   RBI CUTS FY13 GDP FORECAST TO 5.7% VS 6.5%   The RBI, in its review of macroeconomic development, felt reform efforts are a move in the right direction but warned that inflation remains a risk. Still, the RBI's language was less hawkish than in the recent past, as it said inflation pressure is likely to moderate starting in the January-March quarter, a sign it may soon be ready to ease policy interest rates after leaving them unchanged since April. read more   LEAD STORIES FM UNVEILS 5-YR FISCAL PLAN; SIGNALS RBI TO CUT RATES   Finance Minister P Chidambaram said that the govt will continue efforts to restrict fiscal deficit in FY13 to 5.3% and reduce it to 3% by 2016-17. read more CNBC-TV18 CREDIT POLICY POLL: 80% EXPECT CUT IN CRR   There is almost a war cry out there for a rate cut. 20% expect a 50 bps CRR cut. Importantly, 40% of those polled expect CRR and Repo rate to be cut. read more SENSEX ENDS FLAT ON WEAK EARNINGS, GLOBAL MKTS   Markets showed resilience despite weak earnings, trading on hope of a rate cut by RBI tom. Sensex closed up at 18,635.82. Nifty at 5,665.60. read more HURRICANE FEAR SHUTS DOWN NYSE; 3,000 FLIGHTS HIT   Hurricane Sandy, the monster storm bearing down on the East Coast saw public transport and the U.S. stockmarkets shut down, its first in 27 years. read more TOP STORIES • Rupee falls to over 1-mth low; down 52 paise at 54.08   • ONGC well in K-G block leaking gas for over 2 mths   • Post-reshuffle, UPA-2 becomes a Congress government   • New Rail Min Pawan Bansal may hike passenger fares   • Media "defaming" me, plan legal action: Gadkari   • No plans to sell SUUTI stake as of now: FM   • Indore industrialist Akanksha Rathi found dead   • FII holdings close to record high: Morgan Stanley   • Idea Cellular may be most aggressive 2G bidder   • Govt awaiting operators reply on 3G roaming pacts   • BOI Q2 net down 38.5% on higher provisioning   • BHEL misses forecast; Q2 net down 10% at Rs 1,274 cr   • UB stock fall 10% as Mallya doubtful about Diageo deal   • Oil slips to $109 as Sandy shuts U.S. refineries   • SEBI seeks clarifications on Bharti Infratel IPO   • Sanjay Jayavarthanavelu appointed CMD of LMW   • Hyundai Motor hikes prices up to Rs 5,000 from Nov   • Modi calls Tharoor's wife 'Rs 50 cr girlfriend'   • Toyota headed to record global sales   • Penguin, Random merging in 2.4 bn pound deal   more stories TOP VIDEOS Part Of My Job Is To Tell The Truth As I See It. 5.1% Is Challenging, But 5.3% Is Doable: Finance Minister P Chidambaram   Take Some Positions Off The Table Ahead Of Elections (U.S.) Because The Implications Of This Poll Are Substantial For Markets: John Woods, MD, Citi Private Bank   DEVIL'S ADVOCATE: Probe Digvijaya's Claim Against BJP Leaders: Former Chief Justice JS Verma   AT A GLANCE BSE 18635.82 +10.48 NSE 5665.6 +1.3 TURNOVER Rs. 104,123 cr BSE CASH Rs. 1,962 cr NSE CASH Rs. 9,165 cr NSE F&O Rs. 77,230 cr BULLION GOLD 31110 +88 SILVER 59554 -149 CRUDE NYMEX 85.88 -0.4 BRENT 109.94 +0.39 FOREX $ / Re 54.08 +0.52 £ / Re 86.744 +0.52 € / Re 69.774 +0.48 EVENTS TO WATCH 29-30 October CII Media & Entertainment Summit 2012 On 'India - The Big Picture', Leela Palace, New Delhi 30 October RBI Credit Policy 31 October Oil Ministry, RIL Meet On KGD6 Audit 1-2 November Morningstar Investment Conference 2012, Grand Hyatt, Mumbai 2 November CNBC-TV 18's India Business Leader Awards 2012, NCPA, Mumbai 6 November U.S. Presidential Election

"As fiscal consolidation takes place and investors' confidence increases, it is expected that the economy will return to the path of high investment, higher growth, lower inflation and long-term sustainability." P Chidambaram Finance Minister "Certain media groups are acting as 'dalals' (agents) of Congress party. Two English TV channels and one English national daily are behind the vicious campaign against me and are playing into the hands of Congress." Nitin Gadkari BJP Chief This is a serious and big storm (Hurricane Sandy). We don't yet know where it's going to hit, where we're going to see the biggest impacts. Barack Obama President of America