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 Derivatives expiry, higher food inflation and lower earnings also weigh on indices. - Steep hike in power tariff - Satyam rebounds, ends up 3% - Sensex ends down 381pts - FII-TO-FII TRADES: PNB traded at 7% premium - Sensex recovers, rises 68 points to 17,198 - A year after, hotel stocks back in flavour Indian stock indices tumbled as investors booked profit in banks, FMCG and real estate stocks today, the expiry day for November derivatives. The Bombay Stock Exchange (BSE) Sensitive Index, or Sensex, had a flat start at 17,199.05 on the back of weak global cues. The index exhibited lacklustre movement till late-morning trades. Then, taking cues from Asian markets, which were battered badly, the index began to extend losses. The Shanghai Composite Index slumped 3.62 per cent on fear of government intervention to arrest surging asset prices while the Jakarta Composite Index slipped 2.76 per cent.
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The Rajiv Gandhi Thermal Power Project (RGTPP) at Khedar in Hisar district of Haryana created history on Tuesday by breaking all previous records of project implementation, when its first 600 Mw unit was synchronised with the grid in a record period of 35 months, by Haryana Chief Minister Bhupinder Singh Hooda. - Assocham for reforms in Hry land laws - First unit of Hissar power project becomes operational - Hry power project to be synchronised with grid - Panchkula industrialists await review of industrial policy - Pvt players for Haryana power distribution - Haryana to appoint power distributor through open bidding While complimenting the engineers on this landmark achievement, the CM said Haryana was proud to synchronise the first sub-critical unit of 600 Mw capacity in the country. The unit shall be operated at a load of around 40 to 50 Mw for a few hours during which all the leakages and problem areas will be noted for corrective action.
As part of India"s efforts to reach out to people of Malawi, Vice President Hamid Ansari today announced an assistance of $55 million for the southern African country. - Ku Klux Klan cartoon in Indian paper angers Australia - US markets end flat; ADRs in green - Durable firms plan price rise by March - Jagdish Bhagwati: Diaspora impact on a changing India">Jagdish Bhagwati: Diaspora impact on a changing India - Global coffee exports dip 7.8% in Oct-Nov - Adityan group takes control of TMB Addressing a banquet held in his honour here, Ansari, who is on a week-long tri-nation visit to Africa, said India would like to extend a Line of Credit of $50 million for Malawi to support its development goals besides giving four million in grants for its agriculture, health and education sectors. The Indian Vice President also announced a grant of one million dollar as emergency relief for the country following a series of earthquakes that caused loss of lives and property there.
Though the Insurance Regulatory and Development Authority (Irda) is considering open architecture, the insurance industry is divided over the issue. - General insurers expect 10% growth in premium this year - ICICI Pru pips SBI Life to become largest private insurer - LIC grabs 67% of new biz in first 5 months - Irda asks insurers for info on commission paid to banks - Disclosure norms for insurance cos next week: Irda - Agents and their relevance to the insurance Industry The move, which would allow a bank to sell products of multiple insurance companies, is being opposed by most of the banks that have floated insurance ventures. State Bank of India, ICICI Bank, HDFC, Bank of India, Union Bank and ING are some of the banks, that have floated insurance underwriting ventures. Of the 22 life insurance companies, eight are promoted by banks while of the 21 general insurance companies, three are bank-promoted.