Indian Business News – Selected Extracts (26/03/08)

1. Though, the undercurrent was cautious, at the close of trading, the sensex at Bombay Stock Exchange was up by 928 points, the second biggest single-day gain for the index. The sensex closed at 16,217 points. DLF, Reliance Energy and Infosys were the top gainers. The rise is mainly due to the favourable developments at US and bargain buying by FIIs.
2. Pranab Mukherjee tells Bush that the Indo-US nuclear deal will be through soon.
3. Reserve Bank of India sets stiff norms for loan recovery agents. The norms may include police verification of the agents.
4. Losses force Reliance Industries to shut 900 fuel outlets due to its inability to match the fuel price offered by the state-run retailers.
5. IIM-Bombay doubles the fees to 4 lakh / year for 2008-09. It will be raised to 5 lakh next year, it is reported.
6. Steel producers will exercise self-restraint on export of steel products with immediate effect to enhance domestic availability and to control the rising prices.
7. Per capita electricity consumption in India is 520.32 kWh, much less than the another Asian giant, China with 1886.74 kWh.
8. Indo-China bilateral trade to hit $100 billion by 2010? Chinese goods are already flooding the Indian markets.