Sensex Up 48 Pts

Thursday, Oct 25, 2012

I HAVE LOST MY REPUTATION, SAYS RAJAT GUPTA  
A devastated India-born former Goldman Sachs director Rajat Gupta, who was sentenced for insider trading crimes, said he has lost his reputation built over a lifetime and apologised to his family and colleagues. Gupta has been ordered to pay a $5 mn fine and would have to surrender in prison on January 8, 2013. He will also have to undergo a year of supervised release after his 2-year prison term ends. read more  
LEAD STORIES
ANIL AMBANI TO PM: ONE-TIME FEE FAVOURS 'GSM COTERIE'  
Reliance Communication chairman Anil Ambani has written to the Prime Minister pointing out that the EGoM on telecom has taken "biased" decision. read more
SENSEX UP 48 PTS ON STEADY Q2 EARNINGS, GLOBAL MKTS  
Sensex rose supported by Q2 earnings, firm trend in global markets & funds settling this month's derivatives contracts. Nifty up 13.9 pts at 5,705.3. read more
A TATA COALGATE? 999-YR MINE LEASE AT 25P A BIGHA!  
Another coal scam seems to be emerging. This one relates to captive mine allotted to the Tatas for a meagre rent of Rs 3,250 pa for 999-year lease. read more
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AT A GLANCE
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NSE 5705.3 +13.9
TURNOVER
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BSE CASH
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NSE CASH
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NSE F&O
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BULLION
GOLD 30960 +115
SILVER 59509 +509
CRUDE
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BRENT 108.08 +0.23
FOREX
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EVENTS TO WATCH
26-28 October
F1 Grand Prix, Buddh International Circuit, Greater Noida
29-30 October
CII Media & Entertainment Summit 2012 On 'India - The Big Picture', Hotel 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
"When I look at the completely biased and partisan approach adopted by the DoT against new players like Reliance and Tatas, to the staggering financial advantage of the older coterie of GSM operators led by Bharti Airtel, I am left wondering whether all this can be attributed just to poor judgment, or there is something more than meets the eye."

Anil Ambani
In His Letter To PM
"The last 18 months have been the most challenging period of my life since I lost my parents as a teenager. I have lost my reputation that I have built over a lifetime. Much of the first year seemed surreal to me, however, since the trial, I have come to accept the reality of my life going forward. I want to say here that I regret terribly the impact of this matter on my family, my friends and the institutions that are dear to me."

Rajat Gupta
Former Director, Goldman Sachs
(On Rajat Gupta's sentence)"Best thing I can say is heights of stupidity; he has finished his career, his wife and 3 lovely daughters, what about them? We knew he would go to jail, however unfortunate, we people who have known him for years feel about it. We do feel very sad, very unhappy, for anyone especially an Indian who is a well-known American going to jail. However unfortunate it is, 2 years, I think judge Rakoff has been good."

Rahul Bajaj
Chairman, Bajaj Auto




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