Friday, April 4, 2008

Indian Business News – Selected Extracts (05/04/08)

1. Bombay Stock Exchange (BSC) sensex, the 30-share index ended 489 lower and closed the day at 15343 points. Banking stocks were among worst hit. Losers included RIL, Infosys and L&T. In bullion market, gold closed at Rs.11,740/10gm and silver closed at 23,265/kg.
2. BSC launched trading of sensex-based futures on the US Futures Exchange in Chicago today.
3. Inflation in India breaches 7% mark – 3-year high. Prices of food products, manufactured goods continue to rise, government warns against hoarding.
4. Market regulator, SEBI to issue guidelines on real estate mutual funds in the next 15 days.
5. Gujarat NRIs buy big into dirt-cheap US realty, thanks to the subprime mortgage crisis that has hammered property prices in the US.
6. Tatas to pick up 60% stake in a Spanish company, Comoplesa Lebrero SA, a construction equipment company.
7. Rupee closes below 40 rupees against US dollar on Friday.
8. India received US$20.13 billion as foreign direct investment (FDI) in the April-February 2007-08 period up by 70% that flowed in a year ago.

No comments: