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