Parekh Panel For 100% FDI In Telecom; Finally, Bajaj Discover Overtakes Hero Splendor; Talks Between Kingfisher Mgmt, Staff Fail; Himachal Poll On Nov 4, Gujarat On Dec 13 & 17; Sensex Up 45 Pts

Wednesday, Oct 03, 2012 PAREKH PANEL FOR 100% FDI IN TELECOM SECTOR   Suggesting big-ticket reforms to attract investment in the infrastructure sector, a high-level committee headed by HDFC Chairman Deepak Parekh, recommended increasing electricity charges and rail fares. The high-level committee on financing of infrastructure, also pitched for 100% FDI in the telecom sector. The limit at present is 74%. The panel also suggested raising prices of natural gas. These recommendations are aimed at attracting Rs 51.46 lakh crore for funding infrastructure sector during the 12th Five Year Plan (2012-17), said the report which was presented to Prime Minister Manmohan Singh earlier in the day. read more   LEAD STORIES SENSEX RISES FOR 3RD DAY, UP 45 PTS; HUL, DR REDDY'S SHINE   Though trading remained lacklustre, Markets rose on buying in oil & gas, PSU & healthcare stocks amid weak global trend. Nifty up 12.45 at 5,731.25. read more FINALLY, BAJAJ DISCOVER OVERTAKES HERO SPLENDOR   Bajaj Discover brought to an end the 12-year long reign of rival Hero MotoCorp's largest selling motorcylce brand Splendor. read more TALKS BETWEEN KINGFISHER MANAGEMENT, EMPLOYEES FAIL   "The talks have failed as the management does not have money to pay salaries. Hence, our agitation will continue," said KFA pilot. read more HIMACHAL POLLS ON NOV 4; GUJARAT VOTES ON DEC 13, 17   Assembly elections in Gujarat will be held in two phases on December 13 and 17, while polls in Himachal Pradesh will take place on November 4. read more TOP STORIES • Big-ticket reform bills on cabinet agenda tomorrow   • GSPC to pay Rs 2,463.8 cr for 65% stake in Gujarat Gas   • Re over 5-mth high, gains 24 paise to end at 52.16/$   • 2G: EGoM ratifies foreign telcos' participation   • Multi-brand retail FDI good for India: RBI   • Delhi HC stays government ban on 3G roaming pacts   • Mutual fund assets gain 8% to Rs 7,53,703 cr in Q2   • IRDA to bar arbitrary hike in health premium renewal   • Severe penal action for refusal of 3rd party motor ins   • SEBI order against Jaypee grp's Manoj Gaur dismissed   • Medical drugs price rise: SC stops govt   • Maruti Suzuki hikes vehicle prices by up to 5,200   • Gujarat Samachar, Sandesh to launch news channels   • Virgin to resume Mumbai flights after a 3-year hiatus   • Audi to exceed target of selling 8,000 cars in 2012   • China firm sues Obama over blocked wind farm deal   • Pearson CEO's departure could lead to FT sale   • Nokia mulls selling its Finland headquarters   • Einstein's 'God Letter' to be auctioned online   • Butler stole papers Pope wanted destroyed   more stories TOP VIDEOS June Current Account Deficit Still Outside The Comfort Zone; GDP Momentum Is Still Weak: Subir Gokarn, Deputy Governor, Reserve Bank   India Mismanaging Its Monetary & Fiscal Policies: Ajay Shah, Senior Fellow, NIPFP   Rationalisation Of Service Tax To Help Boost Insurance Sector: SB Mathur, Former Chairman, LIC   AT A GLANCE BSE 18869.69 +45.78 NSE 5731.25 +12.45 TURNOVER Rs. 120,102 cr BSE CASH Rs. 2,561 cr NSE CASH Rs. 13,854 cr NSE F&O Rs. 88,083 cr BULLION GOLD 31050 +17 SILVER 62649 -285 CRUDE NYMEX 89.63 -2.26 BRENT 108.65 -2.92 FOREX $ / Re 52.16 -0.24 £ / Re 83.923 -0.65 € / Re 67.343 -0.38 EVENTS TO WATCH 4 October IndiaChem 2012 On Emerging India-Sustainable growth of the Chemical industry, NSE Complex, Mumbai DGCA To Submit Report On Kingfisher Airlines 5 October PMO To Meet Coal, Power Secretaries, New Delhi Pharma Legal & Compliance Summit 2012, Holiday Inn, Mumbai 8 October EGoM On Telecom To Discuss Levying One-Time Spectrum Fee On Existing Telecom Operators, New Delhi

(Kicking off election campaign in Gujarat) "Corruption is like poison, which has spread in our political system, society and administration. Therefore to fight this we were the first to frame Right to Information Act. On the issue of corruption, the double standard of the party (BJP) in thoughts and deeds is clearly visible." Sonia Gandhi President, Congress "Falling global demand and a delayed monsoon curtailing agricultural growth have exacerbated India's recent economic slowdown. Tight monetary policy to counter persistently high inflation and a high deficit leave little room for policy to stimulate growth. However, restoring investor confidence can help jumpstart critical infrastructure projects that could get the economy moving." Changyong Rhee Chief Economist, ADB "We just cannot let the world fall apart. So private business can work very hard, they can do that there, governments need to use their firepower to make sure that one or two of the weaker countries are looked after through this difficult time. They can set a new set of rules to make sure that Europe is really strong in the future. I think it is up to Germany and one or two leaders to make sure it does." Richard Branson Founder & Chairman, Virgin Group

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