1. Indian Telecom service provider, Spice Communications is open to all offers, including stake sale, needs fund for expansion. Waiting proposal from Telekom Malaysia, which holds 39.2% stake in the company.
2. General Motors is planning to close four truck plants and could sell Hummer brand to cut slow-selling trucks from its lineup in response to the higher gasoline prices.
3. The Indian stock market regulator, SEBI is going to allow exchange-traded currency futures to enable investors mange volatility in the currency markets.
4. Indian government’s reluctance to raise fuel prices in step with input cost will result in the three major state-owned oil companies losing Rs.246,000Cr in revenues this fiscal.
5. India lost its position to Vietnam as the most attractive emerging market destination for retail investment. India has been at the top of the global retail development index (GRDI) for the past few years due to steep and consistent rise in the income levels of Indian consumers.
6. India’s mining industry is projected to touch over US$30 billion accounting for about 2.5% of the GDP in the next four years.
7. The BSE ‘s 30-share sensex lost 101 points to close at 15,965. This was the lowest close for the sensex since April 11. Power and Capital goods stocks were worst hit. In bullion market, gold closed at Rs.12,315/10gm and silver at Rs.23,820/kg.
No comments:
Post a Comment