Gold Hits 15-Mth Low At Rs 27,600 | Sensex Recovers 115 Pts

Monday, Apr 15, 2013 GOLD HITS 15-MTH LOW AT RS 27,600; SILVER ALSO DIPS   Gold prices on Monday tumbled by Rs 750 to Rs 27,600/10 gm to hit an over 15-month low, Silver prices followed suit on poor offtake by industrial units & coin makers, dropping further by Rs 2,100 to Rs 48,000/kg. Gold imports fell nearly 24% in the Jan-Mar period. Selling in gold gathered momentum on the global front on speculation that some central banks were selling gold and on expectations of economic recovery. read more   LEAD STORIES SENSEX RECOVERS 115 PTS ON RATE CUT HOPES  Markets recovered after lower inflation data & falling crude & gold prices cemented hopes of rate cut. Sensex closed at 18,357.80, Nifty at 5,568.40. read more MARCH INFLATION EASES TO 5.96%; LOWEST IN 3 YEARS  Inflation slowed to the lowest rate in more than 3 years in March, hardening expectations that the RBI will cut policy interest rates next month. read more CRISIL CUTS FY14 GDP GROWTH FORECAST TO 6%  Crisil lowered growth forecast from 6.4% due to weaker-than-anticipated pick-up in consumption demand, which will act as a drag on mfg sec recovery. read more TOP STORIES • Petrol price cut by Re 1/ltr wef from midnight   • Infy hits 8-month low, stock tanks 24% in 2 days   • Rupee at 54.62/$ down 10 paise; hits 1 week low   • RIL, BP meet govt; seek clarity on natural gas pricing   • SC defers Sunil Mittal's summons to 22 April   • CERC offers 'compensatory package' to Tata Power   • 6,000 MW of thermal power projs may turn into NPAs   • Services exports up 9% at $12.28 bn in Feb   • NGO alleges govt interference in CBI coal scam probe   • SSTL to invest $200 mn in rolling out 4G services   • Infosys slashes debt MF exposure by $1 bn   • India, Malta renegotiate DTAA   • PE deals plunge 39% in Jan-Mar quarter: Thornton   • Warburg Pincus buys stake in India's Avtec   • CIL signs fuel supply pacts with 60 power plants   • Lehman Bros offer to surrender NSE membership   • Single-window panel to facilitate film production   • China's Q1 GDP growth slips to 7.7% (YoY)   • Dish Network offers to buy Sprint for $25.5 bn   • Google clears another step in EU antitrust case   more stories TOP VIDEOS Market Could Be Under Pressure Near Term, But Will Recover Going Forward As Global liquidity Favours India: Ridham Desai, MD & Head of India Research ,Morgan Stanley   JSPL Has Increased Steel Product Prices By Rs 500-1500 In April, Following Hike In Raw Material Cost & Some Duties, Ravi Uppal, MD, JSPL   BJP Is The Most Secular Party, Modi Is The Most Popular Leader: Rajnath Singh, President, BJP   AT A GLANCE BSE 18357.8 +115.24 NSE 5568.4 +39.85 TURNOVER Rs. 184,381 cr BSE CASH Rs. 1,833 cr NSE CASH Rs. 11,471 cr NSE F&O Rs. 158,663 cr BULLION GOLD 26216 -1709 SILVER 44410 -4491 CRUDE NYMEX 88.74 -2.55 BRENT 100.48 -2.63 FOREX $ / Re 54.625 +0.1 £ / Re 83.491 -0.12 € / Re 71.314 -0.15 EVENTS TO WATCH 16 April RIL Q4 Earnings G-20 Energy Ministers To Meet CCEA Meet On Coal Price Pooling IPL 6 - 20th Match - Kings XI Punjab Vs Kolkata Knight Riders, Mohali 17 April Delhi HC To Hear Nokia's I-T Notice Plea HCL Tech Q4 Earnings 18 April Foreign Trade Policy To Be Announced, New Delhi 22 April SC To Hear Sunil Mittal's Plea Challenging 2G Court Summons

"The fact that this is the first time (in over 3 years that inflation) is below 6%, is very important and I hope that we will continue to see that often, I have to say that monthly numbers can jump around but it has been our view that in a gradual way inflationary pressure is coming down." Montek Singh Ahluwalia Deputy Chairman, Planning Commission "Although we continue to believe that GDP growth in 2013-14 will be greater than last year's 5%, the recovery is fragile and hinges critically on a normal monsoon. If the monsoons were to fail this year, resulting in no growth in agriculture, then GDP may grow by only around 5.1%. Economic recovery beyond 2013-14 depends on revival of private corporate investment." Crisil Report On India's FY14 GDP Growth Forecast "All 4 officers investigating this case unanimously said that there is more than enough evidence to show that Sunil Mittal was involved in this because Pramod Mahajan and Shyamal Ghosh, the then Telecom Secretary, together at break neck hurry without consulting or allowing the other officers of the telecom commission or the TRAI to give their report on this matter gave excess spectrum to Sunil Mittal's company." Prashant Bhushan Petitioner, 2G Case