Petrol Price Up By Rs 1.50, Diesel By 45 Paise; Unsuccessful Bidders In Nov 2G Auction To Cease Operations, Says SC; Sensex Falls To 2013 Low At 19,468

Friday, Feb 15, 2013 PETROL PRICE UP BY RS 1.50, DIESEL BY 45 PAISE   Effective midnight IOC country's largest fuel retailer by sales, has hiked petrol price by Rs 1.50 paise/litre and diesel prices by 45 paise/litre. Fuel retailers are currently suffering a revenue loss of Rs 1.23/litre on retail sales of petrol, while revenue loss on diesel sale will now fall to Rs 10.27/litre. read more   LEAD STORIES UNSUCCESSFUL BIDDERS IN NOV 2G AUCTION TO CEASE OPS: SC  SC said that all telecom spectrum that were quashed should be put to auction again & unsuccessful bidders in Nov 2G auction should stop ops forthwith. read more DIAGEO DEAL WILL PAY THE DEBTS: UB GROUP TO KFA LENDERS  UB Group said it has not received any formal communication from the banks but discussions are on to use Diageo proceeds to bring down banks exposure. read more SENSEX FALLS TO 2013 LOW; MIDCAPS HIT HARD  Sensex fell 29 pts, to end at 19,468.15, while Nifty closed at 5,887.40. Midcaps fell on disappointing earnings, Suzlon fell 8.6%, UB Hldgs fall 4.95% read more SHOCKING! GOVT ORDERS BLOCKING ANTI-IIPM URLs  Govt orders blocking of 70 URLs that contain controversial information on business school Indian Institute of Planning and Management. read more TOP STORIES • Govt initiates action to scrap VVIP chopper deal   • Orsi resigns as Finmeccanica's chairman   • Congress 'hand' seen in VVIP chopper scam   • Gold hits 6 month low at $1,625.44/ounce   • Jan gold imports surge 23%, hit 18-month top   • Rupee sees month low; falls 30 paise to 54.22   • AP high court quashes I-T dept's tax demand to Sanofi   • Services exports in Dec at $12.88 bn up 7.1% (MoM)   • SEBI extends pre-open call auction to all scrips   • In a leg-up for GST, states commit to a model law   • Guj HC stays ops of 12 units in Adani Port SEZ   • Mah Satyam buys 51% stake in Brazil's Complex IT   • GAIL Q3 net profit rises 18% to Rs 1,285 cr   • Now, Gold ETFs can invest in Gold Deposit Schemes   • Nuke issue: France wants India to convince Tehran   • Kanda case: Geetika Sharma's mom commits suicide   • U.S. govt won't stop Random House, Penguin deal   • Pakistan owns about 90-110 nuclear warheads: report   • Mattel goes local in India, Brazil   • IMF says currency war fears 'overblown'   more stories TOP VIDEOS Diesel Price Hike Will Reduce Losses By Rs 300 Cr. Govt's Interference Cannot Be Ruled Out; We Being A Government Entity We Have To Adhere To Their Guidelines: RK Singh, CMD, BPCL   PSU Banks To Have A Slightly Better Year In FY14; RBI's Easing Of Rates Will Bring In Marginal Relief With Respect To Asset Quality In CY13: Suresh Ganapathy, Associate Director, Macquarie   AT A GLANCE BSE 19468.15 -29.03 NSE 5887.4 -9.55 TURNOVER Rs. 143,519 cr BSE CASH Rs. 1,779 cr NSE CASH Rs. 10,078 cr NSE F&O Rs. 124,575 cr BULLION GOLD 30305 -158 SILVER 56474 -156 CRUDE NYMEX 95.77 -1.54 BRENT 116.62 -1.38 FOREX $ / Re 54.22 +0.3 £ / Re 84.14 +0.51 € / Re 72.508 +0.42 EVENTS TO WATCH 18 February U.K. Prime Minister David Cameron To Visit India Power Advisory Group Meet 20-21 February Bank Employees To Go On Strike 24 February The Academy Awards Ceremony 25 February 2G Case Hearing In Supreme Court 26 February Union Railway Budget To Be Presented 27 February Economic Survey

BIG ADVANTAGE INDIA BUSINESS UPDATE I look forward to 8 o'clock every evening. If I am travelling, CNBC-TV18 India Business Update is my feedback for what happened in India on that day. It is extremely important for me as it tells me what happened during the day in India and helps me think through the next day. Ashok Wadhwa, Group CEO, Ambit Holdings

"We have received no formal communication from the banks till date. We are in continuing discussions with them on ways to bring down their exposure, interalia, from the proceeds of the Diageo transaction. The banks explicitly support the transaction with Diageo and would work with us in finding an orderly method of disposal of some of the pledged shares to Diageo if appropriate." UB Group Statement "To give greater meaning to representative democracy, we must come out with electoral reforms. A candidate wins with just 25% of total votes polled in his constituency. He does not represent the majority. Hence it is essential to bring about three changes in the electoral system." Hamid Ansari Vice President of India "Though our economic growth has recently declined somewhat, I am confident that we will be able to bring the deceleration to a halt and revert to the 8% growth levels that we attained many times in the past." Pranab Mukherjee President