Financial reforms not driven by Obama's visit, says finance minister!Coal India to raise Rs 15,000 cr from largest ever Indian IPO

India Inc poised to raise record funds via issues in 2010

Troubled Galaxy Destroyed Dreams- 563

Palash Biswas

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Financial reforms not driven by Obama's visit, says finance minister!

We should be convinced! Why the Brahamin Tantra Guru from brahaminical bengal has to clarify at all?This is the question unanswered.

Karnataka CM agrees to floor test again Oct 14

BS Yeddyurappa has agreed to take the trust vote again on Thursday as advised by Governor Bhardwaj. More

Take trust vote again, Bhardwaj tells Yeddyurappa

India and the European Union will jointly host a brainstorming session of the Group of 23 countries on Wednesday to explore how the stalled Doha trade negotiations could be re-energized, sources said.

Union Finance Minister Pranab Mukherjee on Sunday said India has taken up with the US the issue of export control in high-technology trade, and pressed for a number of Indian units to be removed from its restricted Entity List.

The government will raise up to $3.5 billion from a price band of Rs 225 to Rs 245 for state-run Coal India's initial public offering, the largest in the country's corporate history. The government is selling 631.6 million shares, or 10 percent stake in the world's largest coal miner.

The share sale is part of the country's plan to divest its stakes in roughly 60 companies over the next few years. "I think the pricing is much better than what we were expecting. We were expecting it to be Rs 260 at the upper end," said Ambareesh Baliga, vice president of Karvy Stock Broking in Mumbai.

"The response from institutional investors is expected to be very good," he added. Priced at the top end of the band, the company would be valued at $35 billion, placing it among the top Indian firms by market value. It is the seventh-largest IPO in Asia this year.

Speaking to reporters on Tuesday, the country's coal minister said the IPO would raise more than Rs 15,000.

Sources said the EGoM fixed the price band at Rs 225- Rs 245 a share to garner maximum from the four-day initial public offering (IPO), billed as the biggest ever to hit the Indian capital market on October 18.

The four-member EGoM includes Home Minister P Chidambaram, Coal Minister Sriprakash Jaiswal and Planning Commission Secretary Sudha Pillai.

Among other factors, EGoM considered the share prices of major global coal companies including China Shenhua Energy Company, the world's most valuable coal producer, to arrive at a figure, sources added.

CIL filed the prospectus (Red Herring Prospectus) for the issue with SEBI, after being cleared by the Registrar of Companies, in the last week of September. Its board cleared the revised papers incorporating 78 changes suggested by the market regulator.

With over 63 billion tonnes of coal reserves under its fold, CIL is targeting an output of 461.5 million tonnes in the current financial year.

The biggest IPO in India till date is that of Anil Ambani Group company Reliance Power . In January, 2008, it raised Rs 11,500 crore.

Coal India, based in Kolkata, holds a dominant position in the fast-growing Indian market. The state monopoly produced 431 million tonnes in 2009/10 and accounts for nearly 80 percent of coal output in Asia's third-largest economy.

Coal powers 75 percent of India's electricity output, and annual demand is expected to swell at 11 percent. The country, which faces a peak-hour power deficit of nearly 14 percent, plans to triple its generation capacity over the next decade. It reported earnings per share of Rs 15.60 for the fiscal ended March 2010. China's Shenhua Energy, the Indian miner's closest rival, trades at 16 times earnings, while smaller Indonesian peer Adaro Energy has a price-to-earnings ratio of 20 times.

U.S. miner Peabody Energy trades at 25 times earnings. The IPO opens on October 18 and closes on October 21. The listing on the Bombay Stock Exchange is expected by Nov 4. Morgan Stanley, Citigroup, Kotak Mahindra Capital, Enam Securities, Deutsche Bank, and Bank of America-Merrill Lynch are the managers for the offer.

Speaking to media persons at the conclusion of his three-day trip to Washington where he attended the bi-annual meetings of the IMF and the World Bank , Mukherjee expressed satisfaction over the overall progress in Indo-US defence ties.

But, he pointed out, that the issue of export control was an area where more movement is needed. "... it is one area where we do feel that a number of Indian units which are in their entity list should be removed from the list, we are talking export control also, we are in the process of dialogue," Mukherjee said.

The Finance Minister said India and the US had come "much closer" both economically and politically as well as in the field of defence in the last few years.

"... some major instruments which have been signed during this period, take the case of defence, which we never contemplated of having any cooperation in the defence sector, but when I was defence minister, we signed defence framework co-operation, on the basis of which now on Government to government FMS route defence exchanges are taking place, we are talking...," he said.

The US Department of Commerce's Entity List contains a list of foreign end users which might have proliferation concerns. The list is aimed at assisting exporters in determining whether an entity poses proliferation concerns.

Several trade envoys met in small groups last week exchanging ideas on Doha agriculture, industrial goods, services, among other issues.

These meetings, however, failed to bring about any convergence on numerous gaps between the industrialised countries, particularly the United States , and key developing countries like China, India, Brazil, South Africa and Argentina.

"Though these meetings are useful, there is no progress in the market access pillar [that includes agriculture, industrial goods and services]," said one participant, who preferred to remain anonymous.

In an attempt to chalk out the way-forward in the Doha negotiating process, India and the EU are convening a meeting of trade envoys of the G-23 group that includes United States, Japan, Canada, Australia, Switzerland, China, Brazil, Argentina, South Africa, Indonesia, South Korea, Mexico, Egypt, Burkina Faso, Zambia, Mauritius, Barbados, Turkey, Venezuela, Chile, Norway Malaysia, Colombia, and Pakistan.

The G-23 is a larger forum and it is important to decide the way-forward, said the participant, suggesting it is a "transparency" meeting.

After nine years of marathon negotiations, the Doha deal is nowhere in sight as there is no consensus on key agriculture and market access issue

President Barak Obama had said at the last G-20 meeting in Toronto that emerging countries will corner all the benefits from the Doha agreement while the US' concerns continue to remain unanswered.

The World Trade Organization's remaining 152 members who seem tired and exhausted with the Doha negotiations are ready to finalize a deal on the basis of what is on the table at this moment with some minor changes, sources said.

Part of the problem for the stalemate in the Doha negotiations is what is called the "payment" that would largely determine what ought to be the magnitude of trade concessions that a country would take in return for the market access it offers.

With US President Barack Obama's visit due in the month of November this year, India stated that the reforms in their finance sector are not to appease the US president.
After the IMF World Bank annual meeting that was held in Washington, Finance Minister Pranab Mukherjee stated "We have not made the reforms in meeting with anybody. We felt that these reforms and changes were necessary for the betterment of our national economy and was undertaken by our own understanding. This has nothing to do in relation to anyone's visit."
The Monsoon session of parliament witnessed introduction of a bill that overhauled direct tax where as legislation of liberalization of pension and insurance is still in pending situation. It was explained by Pranab Mukherjee that the reform was held up as the UPA government didn't have the needed majority in the parliament.
"The fact that Congress does not enjoy a clear majority makes the reason why many of the legislations on financial sector reforms are getting held up. To implement legislation, only intention will not do. We need the required number too- we do not have the winning 272 votes." said Mukherjee. He also feels that lack of majority votes is also the main cause that is holding back the pension reforms and insurance bills.

India Inc poised to raise record funds via issues in 2010

In the current year so far, Indian cos have raised over Rs 50,000 crore through domestic issues. This is close to the record figure of Rs 52,900 crore raised in the whole of 2007.

With the Indian stock market near all-time peaks, the euphoria is also spreading to the primary markets and 2010 is likely to be remembered as the year in which India Inc raised record funds through IPOs and rights issues.

In the current year so far, Indian corporates have raised over 50,000 crore through domestic issues. This is close to the record figure of 52,900 crore raised by domestic firms through equity issues in the whole of 2007, a report by brokerage firm Motilal Oswal said.

"Given the pipeline of capital raising from both public and private sectors in the fourth quarter of CY10, we expect total capital rising this year to significantly surpass the previous high of 2007," the brokerage house said.

IPO subscription money is also an interesting indicator of the level of investor participation and the level of euphoria. For instance, in September alone, public offers were oversubscribed 11 times on average, with IPOs worth 3,400 crore attracting demand worth 37,000 crore from investors.

Last month, Eros International Media's 350-crore IPO was over-subscribed 27 times, while Tecpro Systems 268 crore offer saw 24 times more demand. Similarly, Career Point Infosystems' 115 crore IPO was oversubscribed 47 times, Va Tech Wabag's 125 crore offer 36 times, Ashoka Buildcon's 225 crore offer 16 times and Microsec Financial's 147.5 crore offer 12 times.

Going forward, the issuance of fresh paper is likely to continue, given the nearly $10 billion disinvestment programme of the government and the private sector's requirement to raise equity to fund projects in sectors such as utilities, real estate and infrastructure. State-run Coal India is coming out with its IPO later this month, through which the government expects to garner up to 16,000 crore. Coal India's IPO is billed as the biggest ever public issue in the country till date. So far, Reliance Power's 11,500 crore IPO was the biggest one.

"Indian markets are in euphoric times. This is evident in the strong performance of benchmark indices, above average valuations, unprecedented FII flows, large IPO subscriptions, increased traded volumes and so on," the report said.

India is one of the best performing markets globally and is poised to be one of the earliest to scale its previous peak and create new highs. Last month, the NSE Nifty crossed the 6,000 points landmark, while the Sensex breached 20,000 points, levels last seen 32 months ago in January, 2008. In today's session, the Sensex was quoting at 20,475, about 730 points short of the record high of 21,206.77 achieved on January 10, 2008.

The key factor driving the rally in Indian markets has been inflows from FIIs (foreign institutional investors). So far in 2010, FII inflows stand at nearly $20 billion, the highest ever so far.

Indian warship INS Shakti launched in Italy

A new warship built for the Indian Navy has been launched at an Italian shipyard in a ceremony that included the recitation of Vedic hymns and the breaking of a coconut.

Italian shipbuilder Fincantieri launched the INS Shakti tanker at the Sestri Ponente yard in Genoa Monday, an Indian Navy officer said.

This is the second of the two tankers built at the Italian shipyard.

INS Deepak was the first to be designed and built in Italy and is in an advanced stage of trials before being delivered to the Indian Navy by year-end.

Fincantieri had signed a 300 million euro contract in April 2008 to build the two vessels.

INS Shakti was launched by Homai Saha, the wife of India's Ambassador to Italy Debabrata Saha, with the "recitation of Vedic hymns and the breaking of a coconut", the official said.

The christening ceremony also included smashing a bottle of champagne against the ship's bow.

Vice Admiral N.N. Kumar, controller (Warship Production and Acquisition), and other senior officers of the Indian Navy and the defence ministry, as also senior Italian Navy officers were present at the launching ceremony.

INS Shakti is expected to be commissioned within two years. Trials will start in December.

Both the INS Shakti and the INS Deepak have been built with double hulls to provide greater safety and prevent oil spillage.
12 Oct, 2010, 03.42AM IST,ET Bureau

Collapse of Karnataka's BJP govt to hit economy

12 Oct, 2010, 03.42AM IST,ET Bureau

Collapse of Karnataka's BJP govt to hit economy

BANGALORE: The imminent collapse of Karnataka's BJP government is likely to further damage the state's economy , scare away corporate investors and dampen efforts to spur infrastructure spending, experts and industry leaders said on Monday.

Over the past decade, Karnataka has developed into a mega hub for IT and technology companies, but has lagged other states, especially its southern neighbours, in attracting manufacturing investments or in infrastructure spending. The BJP government had the power and the majority needed to do that. But teetering on the edge, just 28 months after being elected, is a pointer to a chronic problem affecting the state's polity.

If it falls, this will be the fourth government to do so without completing its full term in the past six years. T V Mohandas Pai, director, Infosys Technologies , sees a three-fold impact of this political instability: a) lack of confidence among corporates in the state towards expansion, b) delayed investments into the state and c) slower job creation

"After GIM, the confidence level was high with investment potential in tier-2 & 3 cities, but now, the corporates might look at other states," J Crasta, former president of FKCCI, an industry body, said.

GIM or the Global Investors Meet, held in June this year, was a showpiece of the BS Yeddyurappa government. It brought together investors from across the world, who promised to spend more than Rs 3 lakh crore on setting up steel mills and power plants.

The state was desperately seeking certain mega investments to provide that investor confidence and was pushing quite heavily for the six million tonne steel plant of ArcelorMittal with an estimated investment of Rs 30,000 crore. It wanted to make this a showpiece investment, but the BJP government's inability to take on the illegal mining lobby only hampered its efforts.

During GIM, the steel sector alone attracted investments over Rs 2 lakh crore and there was hope that some of the industries will come up in the often-neglected districts of north Karnataka. A senior bureaucrat with the state government agrees that the image of Karnataka as an investor-friendly destination has taken a hit and any new regime will have to take urgent steps to erase this perception.

A cross-section of industry bodies say that no political party was against new investments, but lacked a clear economic vision along with implementation bottlenecks. In fact, an industry body official said that during the early days of Mr Yeddyurappa's government, the chief minister did not show the inclination towards attracting investments but it was only later that he changed his stance.

However, the different measures undertaken by the government have only been bogged down by various corruption charges, with one of the ministers in the state cabinet being accused of receiving illegal land compensation from the government.

TODAY - 12 October, 2010

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Coal India to raise Rs 15,000 cr from largest ever Indian IPO

2 Hours ago
AGENCIES
Coal India IPO price band at Rs 225-245/share. IPO values firm at $35 bn at top end of band. IPO largest ever by Indian firm, No. 7 in Asia this year.

Longer stay in India to increase NRIs' tax liability. Check out2 Hours ago
Under DTC, if an NRI's stay in India exceeds 60 days during a year and 365 days for the past four tax years, then they may be considered as residents of India.

Are you dressed right for an appraisal?44 Minutes ago
An employee's adherence to the company dress code is also considered during appraisals.

Skoda relaunches Fabia priced at Rs 4.19 - 6.49 lakhs

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Best Asian finance minister of the year honour for Pranab

Times of India - ‎17 hours ago‎
NEW DELHI: India's fast recovery -- when half of the world was still reeling under slowdown -- was duly acknowledged when finance minister Pranab Mukherjee ...

FM promises action on capital inflows when it is needed

Business Standard - Indira Kannan - ‎19 hours ago‎
Finance Minister Pranab Mukherjee said here on Monday that rising capital flows into India had not yet reached an alarming level, but appropriate action ...

Finance Minister of Asia award for Pranab

The Hindu - ‎20 hours ago‎
PTI Union Finance Minister Pranab Mukherjee Finance Minister Pranab Mukherjee has won this year's 'Finance Minister of the Year for Asia' award. ...

"This is an area where constant watch and evaluation of the situation (is being made) and thereafter appropriate steps will have to be done. My own assessment is that the annualised rate of inflation would be around six per cent," he said.
more by Pranab Mukherjee - Oct 11, 2010 - Economic Times (6 occurrences)

IMF legitimacy will be questioned if it does not change: Pranab

Hindustan Times - ‎22 hours ago‎
PTI Making a strong case for minimum 5 per cent rise in voting power in IMF for emerging economies, Finance Minister Pranab Mukherjee on Saturday said ...

Mukherjee seeks more financial sector reforms

Economic Times - ‎Oct 11, 2010‎
WASHINGTON: Finance Minister Pranab Mukherjee indicated here that the Government of India was wanting to implement more reforms in the financial sector, ...

Pranab on why Congress can't push through economic reforms

Rediff - Aziz Haniffa - ‎Oct 10, 2010‎
Finance Minister Pranab Mukherjee has asserted there's been no pressure by the United States for India to enact financial sector reforms, particularly in ...

For Pranab, Puja back home more important than LA

Rediff - ‎Oct 10, 2010‎
Like his boss Prime Minister Manmohan Singh [ Images ], Finance Minister Pranab Mukherjee [ Images ], the government's chief trouble-shooter, is deprived of ...

G-20 assuming importance over World Bank, IMF, says Pranab

The Hindu - Narayan Lakshman - ‎Oct 10, 2010‎
Washington: The Group of 20 major economies is assuming more importance than the World Bank and the International Monetary Fund (IMF) "in matters of money ...

No solution yet for more voice to emerging markets: Pranab

Sify - ‎Oct 10, 2010‎
Washington, Oct 10 (IANS) No solution has yet been found on how to give a greater say to emerging markets in the global economic governance structure to ...

No link between Obama trip and passage of fin sector bills: FM

Times of India - ‎Oct 10, 2010‎
WASHINGTON: Asserting that financial sector reforms are necessary for the country's growth, finance minister Pranab Mukherjee on Sunday categorically said ...
All 23 related articles »

12 Oct, 2010, 04.20AM IST, Kuldip Kumar,

Longer stay in India to increase NRIs' tax liability

Domestic households savings contribute significantly to India's overall domestic savings rate. The credit goes to the Indian tax laws to a certain extent, as they provide tax incentives to individuals to invest in some specified tax-saving instruments. Section 80C of the Income Tax Act (Act) provides for a deduction of `1 lakh in certain investments (tax saving instruments)/payments made during the year.

The various investments which are eligible for deductions under Section 80C are equity-linked savings schemes (ELSS) offered by LIC and mutual funds, unit-linked insurance plans (Ulips) for self and/or spouse, children, life insurance policies for self, and/or spouse, children, employees' contribution to recognised provident funds (PF), approved super-annuation fund, contribution to public provident fund (PPF); deposits in post office schemes such as National Savings Certificate (NSC), Senior Citizen Savings Scheme (SCSS), if it applies and the post office five-year time deposits, term deposit with a scheduled bank for a period of at least five years, investments made in bonds issued by the National Bank for Agriculture and Rural Development (Nabard) and debentures issued by specified companies.

In addition to the above investments, the following payments also qualify for deduction under Section 80C: payment of tuition fees for full-time education in any Indian university, college, school, educational institution (available for any two children), and repayment of the principal portion of a housing loan.

Besides Section 80C, one can also make an investment up to `20,000 in specified infrastructure bonds to save tax. Further, an individual gets a deduction of up to `15,000 (`20,000 where the individual is a senior citizen) for the health insurance of self and his family. There is an additional deduction of `15,000 where the health insurance is taken for the parents (`20,000 where any of the parents is a senior citizen).

However, the situation may undergo dramatic changes after the Direct Taxes Code (DTC) comes into play. DTC, 2010, proposes to restrict the deduction of `1 lakh only to some approved fund(s)— such as an approved provident fund, pension fund, super-annuation fund, PPF among others. However, an additional deduction of `50,000 has been proposed to cover payments such as life insurance premiums (premium not to exceed 5% of sum insured), health insurance premiums and the tuition fee. That means an individual won't get any tax incentives for existing tax-saving instruments other than those covered in the DTC.

Non-resident Indians (NRIs) visiting India, will need to be more vigilant, post the DTC regime. Under DTC, if their stay in India exceeds 60 days during a year and 365 days for the past four tax years, then they may be considered as residents of India. Currently, they become residents only when their stay exceeds 182 days. Once they become a resident, they may have to pay tax on their global income, if their stay in India for the past seven tax years exceeds 729 days and if they are residents in two out of the past 10 tax years. In a nutshell, NRIs run the risk of triggering worldwide taxation soon if they spend a significant time in India.

The DTC proposals relating to individual taxation have undergone significant change since the DTC was proposed in August 2009. One will really need to wait for the final bill, which will become operational from April 1, 2012.

By Kuldip Kumar, ED, Tax and Regulatory Services | PricewaterhouseCoopers
http://economictimes.indiatimes.com/personal-finance/tax-savers/tax-news/Longer-stay-in-India-to-increase-NRIs-tax-liability/articleshow/6733168.cms

India competes with China, Europe for growing African market

With the help of the government, Indian industry is implementing a strategy to compete with China and European countries for capturing markets in growing African economies , particularly in East Africa.

As part of the game plan, Commerce and Industry Minister Anand Sharma will be leaving for Nairobi tonight, leading a business delegation of the Federation of Indian Chambers of Commerce and Industry.

Senior officials from 187 Indian companies would be participating in the 'Namaskar Africa' and 'India-East Africa Business Forum' events at Nairobi, opening on October 14.

FICCI President and Bharti Enterprises Vice Chairman Rajan Bharati Mittal, with a strong interest in the telecom business in Africa, is the leading member of the delegation.

Sharma will be addressing a meeting of the India-Kenya Joint Trade Committee, according to a Commerce Ministry statement here.

He is also scheduled to meet Kenyan President Mwai Kibaki and Prime Minister Raila Odinga.

While India has bilateral trade of USD 30 billion (2009- 10) with Africa, business with East African nations, mainly Kenya, Rwanda, Seychelles, Ethiopia and Uganda, amounts to just USD 4 billion.

According to a FICCI study, "India has many commercial rivals in the region, particularly European countries like UK and China... The Chinese companies, which are government- owned, have far more capital for investment than the Indian private owned companies."

The European countries may exercise pressure on the African nations to counter China and India, it said, adding, "This is harmful to India's commercial and political relations with East African countries."

India, on its part, is trying to counter the commercial threat from China and European nations by offering lines of credit to African firms. "That will help source capital goods from India," FICCI Secretary General Amit Mitra said.

With a decade of growth at the rate of 5.4 per cent, the economic outlook for Africa is improving.

"For the first time in over three decades, a large number of African countries have begun to show sustained economic growth at the rates that are similar to the rest of the developing world and exceed that of most of the developed countries," FICCI said.

Healthcare and pharmaceuticals, power, construction, information technology, roads and railways and minerals are the areas of opportunity for Indian companies, the study said.

12 Oct, 2010, 04.42PM IST,ET Now

Retail investor should go with known business models: Rajesh Jain, Market Strategist

Rajesh Jain, Market Strategist, in a chat with ET Now gives his views on IPOs.

Are there any IPOs that you have tracked fairly closely?

Let me confess that I am not a regular fan of the IPOs. I believe that a retail investor should be going with known managements and known business models. IPO is a time for window dressing and it is very difficult even for a seasoned investment banking professional to tell you whether the pricing is right. Certainly the retail textile segment is in a sector which is still trying to come back into a roaring business and if an investor has stuck in it, it is because he has made a bad choice. He should bail himself out immediately.
11 Oct, 2010, 04.44PM IST,ET Now

Pricing will do the trick for Coal India IPO: Avinash Gorakshekar, Anagram Capital Ltd

Avinash Gorakshekar, Head of Research, Anagram Capital Ltd , in a chat with ET Now talks about Coal India IPO .

What's the call on Coal India? How bullish are you?

From a business point of view, definitely it is one of those premier frontline IPOs which an investor should not miss out. But the key issue would be that what is the kind of pricing the government does because one would not like to see a fiasco like an NMDC.

If the government wants to get a very large retail base, which it has clearly indicated, they should offer a reasonable amount of profit upside for the new incoming investors as this will be the first IPO from a PSU which is a Navratna in that sense If they give a reasonable opportunity for the retail investors to actually make profits at this point of time where the markets are really at peak levels, then definitely going forward the perception towards the management because as of now, building a perception in the minds of the retail investor is very important.

So finally pricing will do the trick and if they do price it at a reasonable price, you will probably see a big kind of qeue even post listing, once the stock gets listed.
9 Oct, 2010, 06.40AM IST,ET Bureau

IPOs feel the Oct heat, slip on debut

MUMBAI: Investors lost money in two of the three initial public offers that listed on Friday, and had meagre gains in the third, possibly making it tough for future issues if bankers and companies seek high valuation. Orient Green Power , a clean-energy company, and Ramky Infrastructure, a builder of roads and bridges, fell as much as 14% from their sale prices. Electrosteel Steels, which sold shares at Rs 11, gained 2.2% to Rs 11.25.

"There is always a risk of an IPO not fetching good premium, if it is priced aggressively in the bullish market," said Devesh

Kumar, joint managing director and Group CEO, Fortune Financial Services . The market has been in correction mode for past two days, and this affected sentiment towards the new listings on Friday.

In a related development, BS Transcomm, a provider of telecom and power infrastructure, has lowered its IPO price band to Rs 248-257 from Rs 257-266 and also extended the issue by three working days. The move could have been prompted by tepid investor response to the offer that had received only 60% subscription till Friday evening. The offer will now close on October 13. At the upper end of the revised price band, the company is expected to raise around Rs 200 crore.

Companies and investment bankers have been exploiting the dream run in the secondary market by pricing IPOs at a steep valuation, inviting a rare criticism from the market regulator. While some believe that it is investor greed that is leading to disproportionate demand, others say some losses would make it difficult for even good issues to go through. Many companies such as Jindal Power, Reliance Infratel, Sterlite Energy and Lodha Developers may raise funds in initial share sale amounting to more than Rs 30,000 crore, analysts estimate. Apart from these companies, state-owned Coal India plans a listing that may make it the biggest ever in the country, with the IPO size estimated at Rs 12,000-13,000 crore.

Although some issues have led to erosion of investor wealth, demand at this point of time remains strong. Oberoi Realty's Rs 840-crore IPO ended with over 12 times subscription on Friday. Career Point, a company that trains students for engineering and medical entrance tests, doubled on listing.

"The latest is not an indication of the easing of euphoria for IPOs in the secondary market, as there is enough liquidity," says Mr Kumar.

ED to disclose black money stashed in banks abroad: CIC
In a major development towards bringing transparency in the probe into black money stashed in Swiss banks, the Central Information Commission has directed the Enforcement Directorate to make public an estimate of the total amount of such money involved in its investigations. Rejecting the contention of the Directorate that it has been exempted from making disclosures under the RTI Act, the Commission has held all such matters now investigated by the Enforcement Directorate come within the definition of allegations of corruption and, hence, should be disclosed.
"The Enforcement Directorate can let the country know as to how much is the total sum of such money they are dealing with in their current investigations. This figure can be arrived at through the simple contrivance of aggregating the sums of money in all such investigations currently underway," the Commission held in a recent order.
The Bench headed by the then Chief Information Commissioner Wajahat Habibullah comprising of present CIC A N Tiwari and Information Commissioners Shailesh Gandhi and M L Sharma, however, exempted the Directorate from disclosing the nature of such investigations and names of parties involved. "While the Enforcement Directorate may take the position that they have no way of assessing the total volume of illegally held money by Indians in foreign banks, they can surely provide an estimate of the total volume of such money involved in the investigations they are presently conducting," the transparency panel said in its order.
In response to an RTI application filed by V Chandran, the Directorate has taken a position that it could not confirm or deny media reports about the likely volume of black money stashed away in foreign banks by Indian nationals. "This position is, doubtless, defensible, it leaves unanswered the perennial question as to what resources the country has lost to the evil of money laundering.
We would like this matter to be taken beyond technicalities and to address the larger issue related to transparency in this vital field, about which the citizens of our country are keen for answers," the Commission said.

Musharraf 'gives full marks' to 'sincere' Manmohan for peace efforts

Indian Prime Minister Manmohan Singh deserves 'full marks' for his 'sincere' efforts to resolve the Kashmir issue and have peace with Pakistan, but is held back from taking a bold step over fears of domestic political backlash, former Pakistan President Pervez Musharraf has said.
In a TV interview, Musharraf disclosed that it was Manmohan, and not his predecessor Atal Bihari Vajpayee, who deserved the credit for a breakthrough in Indo-Pak relations, the 'Dawn' reported.
"It was with Manmohan Singh that we moved forward towards an agreement, not with Mr Vajpayee," he said.
"I give full marks to Manmohan Singh," he said, but added that the Indian premier lacked 'courage' in giving any concession on Kashmir, fearing domestic pressures.
"In any agreement, there is give and take... and it is the 'give' part that creates problems," the APML founder noted.
Manmohan had a "very good sense" about Indo-Pak relations, he acknowledged, adding, "I respect him very much."
Musharraf said that India and Pakistan were very close to an agreement before he lost power. "We were as close as drafting a final agreement."
"The draft was being formulated, that is the good thing, and it was being formulated in good spirit," he added.
But the former general insisted that there was "nothing in the Lahore Declaration" signed by the then Indian Premier, Vajpayee, and his Pakistani counterpart Nawaz Sharif in February 1999, which could form the basis for a settlement of the Kashmir dispute.
Musharraf revealed that he was surprised to see "no mention" of Kashmir in the declaration's draft, adding that a few sentences were drafted when he told Nawaz that it otherwise made no sense.
"But he (Nawaz) removed them from the final declaration. In a way, he bluffed me," he rued.
When asked about the 'Agra Agreement' of 2001, the former president claimed that there was no agreement, adding that it was only when the Congress returned to power in 2004 with Manmohan as the Indian prime minister that the two countries "moved forward towards an agreement".
Musharraf, however, said that he had "no regrets" over Kargil, describing it as a result of the history of "confrontation" between the two countries.

Spotlight : Common Wealth Games 2010

The 2010 Common wealth Games will be the nineteenth Commonwealth Games, and the ninth to be held under that name. The Games are scheduled to be held in New Delhi, India between 3 October and 14 October 2010. The games will be the largest multi-sport event conducted to date in Delhi and India, which has previously hosted the Asian Games in 1951 and 1982. The opening ceremony is scheduled to take place at the Jawaharlal Nehru Stadium, the main stadium, in Delhi. It will also be the first time the Commonwealth Games is held in India and the second time the event has been held in Asia (after 1998 in Kuala Lumpur, Malaysia).

New Zealand win Rugby Sevens gold, India finish in bottom four

PTI - 08:13 PM
Sabi Hussain New Delhi, Oct 12 (PTI) Egged on by a capacity crowd at the Delhi University stadium, the 'All Black' New Zealand produced a come-from-behind performance against Australia to win their fourth Commonwealth Games Rugby Sevens gold medal here today. More »

News Stories

India win bronze in men''s and women''s 4x100m relay racesPTI - 08:07 PM
CWG Badminton: Kashyap loses in singles semisIANS - 08:07 PM
INTERVIEW - Sport must leave comfort zone to inspire - CoeReuters - 07:34 PM
Games closing ceremony tickets yet to be sold outIANS - 07:32 PM
Poonia gets emotional recounting her sacrifices to win a goldPTI - 07:18 PM

100 pickets set up at Metro stations for CWG securityIANS - 07:10 PM
CWG: TT federation still waits for complimentary ticketsIANS - 06:51 PM
Wah Taj, say foreign journalistsIANS - 06:42 PM
Somdev in 2nd round of Tashkent OpenPTI - 06:33 PM
Pistol shooting pair Heena and Annu help India to new highPTI - 06:25 PM
Sharpshooting Narang's golden run ended by sick partnerReuters - 06:23 PM
Shooting pair fire India to best Commonwealth gold tallyReuters - 06:21 PM
CWG Shooting: Overcaution cost Tejaswini the goldIANS - 06:16 PM
CWG: India win 31st gold, tally highest in GamesIANS - 06:16 PM
Delhi Metro geared up for CWG closing ceremonyIANS - 06:06 PM
Athletes not game for movie screenings at VillageIANS - 06:02 PM
Athletes start bidding good byePTI - 05:59 PM
Gold-winner Harpreet eyes encore at Asian Games, OlympicsPTI - 05:56 PM
61 challans issued against vehicles entering Games laneIANS - 05:51 PM
Krishna Poonia criticises athletes for Games boycottReuters - 05:42 PM
10-men Pakistan lose 2-3 to SA on golden goal, finish sixthPTI - 05:35 PM
Over 100 fortified pickets at sensitive Metro stationsPTI - 05:24 PM
India had home ground advantage: Pakistan Hockey FederationIANS - 05:19 PM
Games Village better than in Olympics: Milkha SinghPTI - 05:10 PM
Former triple-jumper Gill criticises MilkhaPTI - 05:08 PM
CWG women's hockey: Australia to face New Zealand in finalIANS - 05:02 PM
CWG men's hockey: Oz thrash Kiwis to reach finalIANS - 05:01 PM
England paddler's mother wishes an India cap for himIANS - 05:01 PM
CWG men's hockey: South Africa pip Pakistan to finish fifthIANS - 04:51 PM
CWG Village gives opportunities to small-time businessmenPTI - 04:35 PM
Another Nigerian sprinter fails dope test at CWGANI - 04:35 PM
Camping sites empty with no CWG visitors checking inPTI - 04:28 PM
CWG medals tallyIANS - 04:28 PM
Entry passes to Commonwealth culture show in short supplyIANS - 04:28 PM
Best-ever medal haul assured, boxers target gold at CWGPTI - 04:18 PM
Shooters bag one gold, two silver; Gagan disappointsPTI - 04:03 PM
Indian challenge ends in Commonwealth Games squash eventsPTI - 04:03 PM
AMU congratulates Anurag Singh for gold medal in CWGPTI - 03:33 PM
Lessing, Shakespeare, Blake in dance-theatre on Commonwealth stageIANS - 03:33 PM
Scotland all praise for India at CWGIANS - 03:23 PM
This gold-digger balances shooting with dental surgeryIANS - 03:03 PM
Hoteliers look life beyond CWG, expect rising occupancyPTI - 02:50 PM
CGF concerned over crowd response for marathonPTI - 02:46 PM
Cheap mobile call rates for athletes at CWG VillageIANS - 02:34 PM

CWG hockey: Arch-rivals Oz, Kiwis to square off for women's goldIANS - 02:30 PM

National News Slideshows

PM turns 78!
It was a quiet birthday for Prime Minister Manmohan Singh who turned 78 today. (PTI)

CWG: Top athletes who pulled out
CWG stadiums at a glance
Swanky Games Village ready to welcome athletes

» More National News Photos

Add to My Yahoo!/RSS
National News: General
Politics News
Features News
Crime News
Common Wealth Games 2010

» More News Feeds

Spotlight : Kashmir unrest

Curfew, unrest and impasse - Kashmir is burning again. Will the all party delegation be able to resolve it?

India seals off Kashmir to fend off fresh protest

Reuters - 03:22 PM
Police on Tuesday sealed off residential areas and reimposed a round-the-clock curfew in the Kashmir valley to pre-empt the first anti-India rally since authorities announced concessions to end violent protests. More »

News Stories

Curfew imposed in Kashmir valley to prevent separatist marchANI - 01:00 PM
Valley wide curfew to scuttle separatist march in SrinagarIANS - 11:05 AM
No curfew in Srinagar despite separatist shutdownIANS - Sun, Oct 10
BJP youth wing demands Omar Abdullah's resignationANI - Fri, Oct 8
Oppn BJP and NPP protest Omar''s remarksPTI - Fri, Oct 8

BJP MLAs stage protest in Srinagar against Abdullah's speechANI - Fri, Oct 8
JKNPP sponsored bandh evoked little response in JammuPTI - Fri, Oct 8
BJP and NPP MLAs protest Omar's remarks outside AssemblyIE - Fri, Oct 8
Omar's remarks: Protest sit-in staged outside assemblyIANS - Fri, Oct 8
Day after, uproar in J&K HouseIE - Fri, Oct 8
Four MLAs injured as ruckus erupts over Omar''s remarksPTI - Thu, Oct 7
BJP holds rally against Abdullah's remarksIANS - Thu, Oct 7
Ruckus in J-K Assembly as Opposition protest Omar's remarksIE - Thu, Oct 7
JKNPP announces Jammu bandh tomorrowPTI - Thu, Oct 7
Ruckus in J&K Assembly as Opposition protest Omar''s remarksPTI - Thu, Oct 7
Ruckus over Omar speech in assembly, BJP MLA injuredIANS - Thu, Oct 7
Lawmakers scuffle with officials in Indian Kashmir, ASAP - Thu, Oct 7
Students hold protests over KAS exam resultsPTI - Wed, Oct 6
Another Jammu group joins protest against Kashmir formulaIANS - Tue, Oct 5
Curfew reimposed in some parts of Kashmir ValleyIE - Tue, Oct 5
Curfew reimposed in some parts of Kashmir ValleyPTI - Tue, Oct 5
Four injured in Shopian, curfew clamped in SrinagarIE - Sun, Oct 3
Four injured in Shopian, curfew clamped in SrinagarPTI - Sun, Oct 3
- Sat, Oct 2
Iran slams India over J&K protests, India hits back, issues demarcheIE - Sat, Oct 2
BJP calls Jammu shutdown ThursdayIANS - Wed, Sep 29
Kashmiri Pandits protest delegation visit, 114 heldPTI - Tue, Sep 21
Several injured in police action in JammuIANS - Tue, Sep 21
BJYM protests against revocation of AFSPAPTI - Sun, Sep 19
APMCC chairman resigns from Apex Committee for MigrantsPTI - Sun, Sep 19
Hurriyat shelves plan to hold protest outside army campsPTI - Sat, Sep 18
PDP dist youth chief injured while leading a stone-pelting mobPTI - Sat, Sep 18
Two killed in fresh clashes in KashmirReuters - Fri, Sep 17
J-K BJP holds demonstration on law and order issuePTI - Thu, Sep 16
Three killed during protest in Indian KashmirReuters - Wed, Sep 15
Hardline Hurriyat issues 11-day protest schedulePTI - Tue, Sep 14
Agitated over alleged desecration of Quran in U.S., mob sets missionary school on fire in KashmirANI - Mon, Sep 13
Protests over Centre''s proposal to dilute AFSPA in JKPTI - Mon, Sep 13
One killed during Koran protest in KashmirReuters - Mon, Sep 13
Curfew imposed in more areas of Kashmir ValleyPTI - Mon, Sep 13
Case registered against Mirwaiz Umar FarooqIE - Sun, Sep 12
Case registered against Mirwaiz Umar FarooqPTI - Sun, Sep 12
BJP holds dharnas in J&K to ptotest against autonomyPTI - Wed, Sep 8
Curfew clamped in Srinagar, restrictions imposed in the ValleyPTI - Tue, Sep 7
BJP to protest against autonomy demand for J-KPTI - Mon, Sep 6

Spotlight : Ayodhya Verdict

As the nation gets a breather from Ayodhya verdict, everyone is waiting for September 28 when the verdict will be announced. From cancelling leaves of the policemen, to liquor ban to ban on group SMSes - the state was geared up in everyway. Among the questions before the court are whether a temple existed at the site before 1528 when the Babri Masjid was built; whether the site is the birthplace of Ram. The timing of the decision may become even more crictical with the forthcoming Commonwealth Games.

In Babri verdict noise, a death passes silently

IE - 06:13 AM
Aslam Bhure's 1991 plea led to status quo on Ayodhya site Aslam Bhure, 54, died on the morning of October 3. He was a pious Muslim of modest means who ran a cycle-rickshaw repair workshop in the basti behind Mata Sundri College in Old Delhi. More »

News Stories

Ayodhya case: Hindu Mahasabha files caveat in Supreme CourtIANS - Mon, Oct 11
Temple-mosque issue matter of community: LitigantPTI - Sat, Oct 9
Ayodhya verdict: Akhil Bharat Hindu Mahasabha to move SCPTI - Sat, Oct 9
Three key parties in Babri mosque title suit meet to discuss solutionANI - Sat, Oct 9
ABHM, Nirmohi Akhara disagree on out-of-court settlementPTI - Sat, Oct 9

RSS prefers out of court settlement on Ayodhya: SpokespersonIANS - Fri, Oct 8
Ayodhya title suit verdict best possible judgement: DigvijayPTI - Fri, Oct 8
Three years in Ayodhya historyIE - Fri, Oct 8
Ayodhya litigant Ansari gets death threatsANI - Thu, Oct 7
Pune solution to Ayodhya dispute: a world humanity hallIE - Thu, Oct 7
'Congress respects judicial process for Ayodhya verdict'ANI - Wed, Oct 6
Cong plays safe, will wait for SC rulingIE - Wed, Oct 6
Near-economic collapse may have been trigger: Justice KhanIE - Wed, Oct 6
Verdict may be cited for justifying demolition: CPMIE - Wed, Oct 6
Ayodhya verdict does not condone Babri razing: CongressIANS - Tue, Oct 5
Parties joust over Ayodhya verdictPTI - Tue, Oct 5
No link between Ayodhya verdict, Babri demolition: BJPIANS - Tue, Oct 5
No need to link Ayodhya verdict with Babri demolition case:BJPPTI - Tue, Oct 5
Court ruling doesn't condone Babri demolition: CongressIANS - Tue, Oct 5
Congress Working Committee to discuss Ayodhya VerdictANI - Tue, Oct 5
Cong to discuss Ayodhya verdict todayIE - Tue, Oct 5
Ayodhya dispute: Ansari's move for talks welcomedIANS - Mon, Oct 4
Shiv Sena praises Judge Khan, Ayodhya petitioner AnsariIANS - Mon, Oct 4
Why didn't Tulsidas mention Ram temple demolition?IANS - Mon, Oct 4
Ayodhya Muslim litigant visits seer to urge negotiated settlementIANS - Sun, Oct 3
Finding grounds for appeal, Board takes hard look at all 3 rulings on Ayodhya suitsIE - Sun, Oct 3
Life back to normal in AyodhyaPTI - Sun, Oct 3
Is disputed Ayodhya site the exact birthplace of Ram?IANS - Sun, Oct 3
Special screening of Ghosh''s movie on Ayodhya held in B''deshPTI - Sun, Oct 3
BJP slams Chidambaram for remarks on Babri demolitionIE - Sat, Oct 2
Ayodha ruling a triumph for Hindus, says Pakistani paperIANS - Sat, Oct 2
Post-verdict, focus on two other Babri casesIE - Sat, Oct 2
Focus shifts to Babri demolition casesIE - Sat, Oct 2
Ayodhya verdict website gets 38,000 hits in 8 hoursIE - Sat, Oct 2
Order does not make demolition right: PCIE - Sat, Oct 2
Day after, Congress Muslim MPs step out to back verdictIE - Sat, Oct 2
1940 verdict in Lahore gurdwara case may play key role in deciding Ayodhya disputeIE - Sat, Oct 2
Ayodhya verdict only tenable solution: Pakistani editorialIANS - Fri, Oct 1
Status quo on Ayodhya to stay, government 'pleased' with peaceIANS - Fri, Oct 1
Indian Muslims divided over Ayodhya rulingIANS - Fri, Oct 1
Call for burying Ayodhya dispute, fresh startPTI - Fri, Oct 1
Ayodhya verdict has disappointed minority community: PaswanPTI - Fri, Oct 1
Compromise, judicial mediation - experts react to Ayodhya verdictIANS - Fri, Oct 1
People across Uttar Pradesh cautiously welcome mosque verdictANI - Fri, Oct 1
Status quo in Ayodhya to be maintained: ChidambaramANI - Fri, Oct 1
*

National News Slideshows

PM turns 78!
It was a quiet birthday for Prime Minister Manmohan Singh who turned 78 today. (PTI)

CWG: Top athletes who pulled out
CWG stadiums at a glance
Swanky Games Village ready to welcome athletes

» More National News Photos

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Indian Markets Closed.Tue, Oct 12, 2010, 8:42PM IST

Markets

Asia

BSE Sensex	20,203.34	-136.55	-0.67%
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Nifty 50	6,090.90	-44.95	-0.73%
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Dow	10,981.80	-28.54	-0.26%
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Nasdaq	2,406.86	+4.53	+0.19%
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FTSE 100	5,673.22	+0.82	+0.01%
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DAX	6,313.40	+3.89	+0.06%
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Nikkei 225	9,388.64	-200.24	-2.09%
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Hang Seng	23,121.70	-85.61	-0.37%
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Market Update

Tue, Oct 12 - 2:53PM IST
The Indian bourses were struggling to recover losses during the afternoon session as the market was unable to get any support from the global and the domestic arena. The stocks were marking huge losse...
» Read more

Market Movers

NSE

Company	Price	Change	% Change
Most Active			more
TECPRO.BO	407.85	-17.15	-4.04%	* 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert
CANTABIL.B	104.75	-24.45	-18.92%	* 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert
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ELGIRUB.BO	12.06	+2.01	+20.00%	ELGI RUB 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert
BLB.BO	14.40	+2.40	+20.00%	BLB LIMITED 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert
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JCOPOCRPS2	458.25	-114.56	-20.00%	JCOP OCCRPS2 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert
CANTABIL.B	104.75	-24.45	-18.92%	* 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert

Company	Price	Change	% Change
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IFCI.NS	75.50	+1.45	+1.96%	IFCI LTD 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert
TECPRO.NS	405.70	+50.70	+14.28%	TECPRO SYSTEMS LTD 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert
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BINANII_a.	222.00	+105.00	+89.74%	BINANI INDUSTRIES LTD 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert
CUBEXTU_a.	33.25	+11.35	+51.83%	CUBEX TUBINGS LTD 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert
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CANTABIL.N	105.00	-30.00	-22.22%	Cantabil Retail Ltd 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert
GALLISPAT.	66.20	-14.85	-18.32%	Gallantt Ispat Ltd 1d 5d 3m 6m 1y 2y 5y max News Profile Key Stats Add to Portfolios Set Alert

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Currencies

	EUR	GBP	USD
INR	61.7079	70.4213	44.5850

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As of 3 hours ago

August factory output growth disappointing: FM

- Reuters
The slower growth in India's industrial output in August was disappointing, Finance Minister Pranab Mukherjee said on Tuesday....

Tecpro Systems debuts up 20% on BSE- Reuters
'Festive demand to boost real estate launches'- IE Finance
IT cos to hire non-techies for managing infrastructure- IE Finance
Coal India IPO set to ride bull market- IE Finance
Asia stiffens resolve over capital inflows- Reuters

» View more top stories

Featured

Key commodities cross 2008 peaks on demand, liquidity
Prices of major commodities, including gold, iron ore, silver and farm goods like cotton recently crossed their peaks of 2008 ahead of the Lehman Brothers bankruptcy, thanks to a surge in demand and excess liquidity maintained by the Fed Reserve.

LIVE BUSINESS NEWS

INTERVIEW - Oilex sees India gas production by mid-2011- Reuters
Rupee hits 1-week low on weak euro, shares- Reuters
Govt to raise $3.5 bln from Coal India IPO- Reuters
Coal India IPO priced at 225-245 rupees/shr- Reuters
Google Inc. working with less known handset makers to target middle class Indians- ANI
BSE Sensex provisionally closes down 0.7 pct- Reuters
INTERVIEW - Embassy expects to launch IPO in Nov- Reuters
SKS chief: former CEO fired due to interpersonal issues- Reuters
India solar power plans over-subscribed- Reuters
India-Kenya Joint Trade Committee meeting in Nairobi- ANI

Market summary

11:13AM EDT
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World markets

Shanghai	2,841.41	+34.47 (1.23%)
Nikkei 225	9,388.64	-200.24 (-2.09%)
Hang Seng Index	23,121.70	-85.61 (-0.37%)
TSEC	8,090.22	-86.54 (-1.06%)
FTSE 100	5,669.40	-3.00 (-0.05%)

CAC 40	3,750.26	-18.23 (-0.48%)
S&P TSX	12,536.50	+0.91 (0.01%)
S&P/ASX 200	4,618.20	-79.30 (-1.69%)
BSE Sensex	20,203.34	-136.55 (-0.67%)

Currencies

EUR/USD	1.3813	-0.0071 (-0.51%)
USD/JPY	81.8200	-0.2500 (-0.30%)
GBP/USD	1.5810	-0.0086 (-0.54%)
CAD/USD	0.9858	-0.0013 (-0.13%)
USD/HKD	7.7602	+0.0016 (0.02%)
USD/CNY	6.6734	+0.0055 (0.08%)
AUD/USD	0.9811	-0.0030 (-0.30%)

Bonds

3 Month	0.10%	0.00 (0.00%)
6 Month	0.15%	0.00 (0.00%)

2 Year	0.27%	0.00 (0.00%)
5 Year	1.10%	+0.01 (0.92%)
10 Year	2.38%	+0.01 (0.42%)
30 Year	3.74%	+0.01 (0.27%)

US Stocks Slip Ahead Of Fed Minutes; China Worries Weigh
Wall Street Journal - 30 minutes ago
By Donna Kardos Yesalavich NEW YORK (Dow Jones)--US stocks fell Tuesday as investors grew apprehensive about Federal Reserve minutes due in the afternoon while renewed worries over China's efforts to cool its economy also weighed. The Dow Jones Industrial Average shed 65 points, or 0.6%, to ...
US stocks dip ahead of Fed clues on new stimulus Economic Times
Wall Street opens lower ahead of Fed minutes Trading Markets

Dow Jones	10,979.00	-31.34	(-0.28%)
S&P 500	1,163.21	-2.11	(-0.18%)
Nasdaq	2,405.77	+3.44	(0.14%)

Trends

Popular
Price
Mkt Cap
Vol

Gainers	Change	Mkt Cap
KG	King Pharmaceuticals, Inc.	-0.10%	2.53B
MYGN	Myriad Genetics, Inc.	-0.54%	1.55B
OMX	OfficeMax Incorporated	1.17%	1.17B
GMCR	Green Mountain Coffee Roasters Inc.	-1.43%	3.73B
SHI	Sinopec Shanghai Petrochemical Co. (ADR)	0.40%	3.05B

Losers	Change	Mkt Cap
MY	China Ming Yang Wind Power Group Limited American Depositary Shares, each representing one ordinary share $0.001 par value	-3.58%	1.72B
GPN	Global Payments Inc.	-0.14%	3.31B
CLR	Continental Resources, Inc.	-0.55%	8.24B
EDMC	Education Management Corp	-2.08%	2.01B
KNM	KONAMI CORPORATION (ADR)	-0.76%	2.43B

Excludes stocks with mkt cap less than $1B. Learn more

Gainers	Change	Mkt Cap
GE	General Electric Company	1.47%	184.00B
GOOG	Google Inc.	1.03%	173.50B
SNP	China Petroleum & Chemical Corp. (ADR)	2.09%	79.15B
BAC	Bank of America Corporation	1.14%	133.45B
AAPL	Apple Inc.	0.55%	271.31B

Losers	Change	Mkt Cap
BHP	BHP Billiton Limited (ADR)	-1.71%	221.66B
VALE	Vale (ADR)	-1.97%	168.43B
VALE.P	Vale (ADR)	-1.98%	166.10B
BBL	BHP Billiton plc (ADR)	-1.72%	187.13B
CHL	China Mobile Ltd. (ADR)	-1.41%	210.38B

Excludes stocks with mkt cap less than $1B. Learn more

Leaders	Volume	Mkt Cap
KG	King Pharmaceuticals, Inc.	175.83M	3.54B
C	Citigroup Inc.	131.00M	121.25B
SPY	SPDR S&P 500 ETF	56.33M	76.65B
BAC	Bank of America Corporation	46.98M	133.45B
QQQQ	PowerShares QQQ Trust, Series 1 (ETF)	35.22M	20.17B
IWM	iShares Russell 2000 Index (ETF)	24.92M	13.76B
MGM	MGM Resorts International.	22.58M	6.17B
XLF	Financial Select Sector SPDR (ETF)	21.09M	5.90B
INTC	Intel Corporation	20.61M	108.80B
F	Ford Motor Company	20.46M	47.20B

Excludes stocks with mkt cap less than $1B. Learn more

Popular searches on Google	Change	Mkt Cap
KG	King Pharmaceuticals, Inc.	39.51%	3.54B
AVP	Avon Products, Inc.	2.74%	14.61B
ACTI	ActivIdentity Corp.	42.04%	151.73M
TXIC	Tongxin International Ltd	-20.54%	39.56M
FAST	Fastenal Company	-3.74%	7.77B
ININ	Interactive Intelligence	20.74%	384.37M
BMRN	BioMarin Pharmaceutical Inc.	0.78%	2.24B
SYNA	Synaptics, Incorporated	-2.59%	867.15M
PTIE	Pain Therapeutics, Inc.	16.45%	310.74M
GPN	Global Payments Inc.	-9.80%	3.03B

Sector summary

Sector

Change

% down / up

-0.81%

-0.64%

+0.22%

-0.53%

+0.02%

-0.70%

-0.09%

+0.10%

-0.30%

+0.22%

-0.61%

-0.50%

Karnataka CM BS Yeddyurappa to face take fresh confidence vote on Thursday

Daily News & Analysis - ‎1 hour ago‎
Place: New Delhi | Agency: PTI Karnataka chief minister BS Yeddyurappa today accepted Governor's offer to take a confidence vote in the Karnataka Assembly on Oct 14.
Video: K'taka Gov asks Yeddyurappa to prove majority
Karnataka: BJP ready for second trust vote on Thursday Times of India
IBNLive.com - Deccan Herald - Sify - Oneindia
all 1,586 news articles »
हिंदी मेंEmail this story
Reuters India

Live update - CWG, Day 9 (3 pm till close)

The Hindu - Anand Venkateswaran - ‎4 hours ago‎
PTI India's gold medallist Heena Sidhu and Annu Raj Singh flanked by Australian pair (silver) and Canadian pair (bronze) at the the victory stand after the women's 10m air pistol (pairs) event at Dr Karni Singh Shooting Range in New Delhi on Tuesday.
Shooting pair fire India to best Commonwealth gold tally Reuters India
India crosses manchester Games tally Times Now.tv
Hindustan Times - Sydney Morning Herald - Economic Times - Sify
all 2,103 news articles »Email this story
The Hindu

Modi's big day: BJP sweeps municipal elections

NDTV.com - ‎1 hour ago‎
PTI, Updated: October 12, 2010 19:00 IST Ahmedabad: Ruling BJP has swept the polls to six municipal corporations in Gujarat retaining power with two-thirds majority in all but one of them, in a big victory for Chief Minister Narendra Modi who put all ...
Guj polls: Clean sweep for BJP Oneindia
BJP wins Jamnagar Municipal Corporation IBNLive.com
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Liu's wife wants to go to Norway to receive Nobel

AFP - ‎44 minutes ago‎
PARIS - The wife of jailed Chinese dissident Liu Xiaobo said on Tuesday that he had asked her to travel to Norway in his stead to receive his Nobel Peace Prize, while admitting that this would be "complicated".
Video: Wife of Nobel Peace Prize winner placed under house arrest
Liu Xiaobo's wife fears China may prevent Nobel prize collection The Guardian
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Students join strike against Nicolas Sarkozy

The Australian - ‎40 minutes ago‎
"Sarko, you're screwed, the young are on the streets," chanted students in the southwestern town of Toulouse as they marched beside workers on the fourth nationwide demonstration against pension reform in just over a month.
Factbox: European workers stage anti-austerity protests Reuters
France braced for strike disruption The Guardian
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Ukraine train and bus collision kills 40

BBC News - ‎3 hours ago‎
At least 40 people have been killed and 10 hurt in a collision between a train and a small bus in eastern Ukraine, officials say. The incident happened near the town of Marhanets, south of the main regional city of Dnipropetrovsk.
40 feared dead after train and bus collide ABC Online
40 killed as Ukraine's train hits bus Oneindia
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India seals off Kashmir to fend off fresh protest

Moneycontrol.com - ‎3 hours ago‎
Police on Tuesday sealed off residential areas and reimposed a round-the-clock curfew in the Kashmir valley to pre-empt the first anti-India rally since authorities announced concessions to end violent protests.
Separatists reject Deoband clerics' stand Hindustan Times
Separatists slam Deoband's JK stand Indian Express
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Oneindia

Indian warship INS Shakti launched in Italy

Economic Times - ‎1 hour ago‎
NEW DELHI: A new warship built for the Indian Navy has been launched at an Italian shipyard in a ceremony that included the recitation of Vedic hymns and the breaking of a coconut.
New Indian warship launched in Italy Hindustan Times
INS Shakti launched at Italian shipyard MSN India
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The Guardian

Sri Lankan president guest of honour at Games close

NDTV.com - ‎2 hours ago‎
New Delhi: Sri Lankan President Mahinda Rajapakse will be the guest of honour at Thursday's closing ceremony of the Delhi Commonwealth Games, where participants include nations deeply critical of his rights record.
Rajapaksa to grace CWG closing Chandigarh Tribune
Rajapaksa to be sworn in for second term next month Times of India
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Moneycontrol.com

CIL IPO price band Rs 225-245; may raise over Rs 15000 cr

Hindustan Times - ‎32 minutes ago‎
PTI Aiming to garner over Rs 15000 crore through the largest ever public offering in India, the government on Tuesday decided to price Coal India's IPO in the range of Rs 225-245 a share for divesting its 10 per cent stake.
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Coal India IPO: Price band Rs 225-245 Rediff
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Disappointing IIP data: Will RBI hike rates on Nov 2?

Moneycontrol.com - ‎4 hours ago‎
Industrial output growth in August has come in at 5.6% as compared to 10.6% in the year-ago period. Key sector, capital goods growth, has fallen as low as 2.6% (YoY) in the month.
IIP fall hurts Capital goods stocks Indian Express
India's August industrial output growth plummets to 5.6 per cent domain-B
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Sensex ends at 20200 due to weak IIP, global cues

Economic Times - ‎2 hours ago‎
MUMBAI: Equities ended on a weak note Tuesday as investors pressed sales after lower-than-expected IIP data and negative cues from European markets spooked sentiments.
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Windows Phone 7 has a quick learning curve, says Stephen Fry

Telegraph.co.uk - Hunter Skipworth - ‎1 hour ago‎
Stephen Fry, who has become known in technology circles as a fan of Apple products, made a surprise appearance at the launch of Microsoft's Windows Phone 7 in London yesterday.
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Nokia launches N8 smartphone

Economic Times - ‎3 hours ago‎
NEW DELHI: Mobile handset manufacturer Nokia on Tuesday launched the Nokia N8 smartphone with Ovi services which will enable its users to create content, connect to their favourite social networks and enjoy on-demand web TV programmes.
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Xperia X8 Unveiled in India for Rs. 13900

Techtree.com - Roydon Cerejo - ‎Oct 11, 2010‎
Sony Ericsson has just announced the availability of the Xperia X8 in India for a street price of just under Rs.14000. This puts it right between the X10 mini and the X10 mini pro.
Sony Ericsson Xperia X8, available in India, priced at Rs. 14000 TopINews
Sony Ericsson launches Android-based Xperia X8 Times of India
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The Hindu

Tendulkar disappointed despite double

CricInfo.com - Sidharth Monga - ‎36 minutes ago‎
Sachin Tendulkar wasn't in his usual cheerful press conference mood, his slightly sombre interaction standing out on a day when he joined Virender Sehwag as the Indian with most double-centuries.
India field depleted team for Australia one-dayers Times of India
Spinners restrict Australia to 202 for seven The Hindu
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CWG: India beat England on penalties to reach hockey final

NDTV.com - ‎47 minutes ago‎
New Delhi: India defeated England 5-4 on penalty strokes in a stunning semi-final comeback on Tuesday to move into a Commonwealth Games field hockey final against defending champion Australia.
Video: Games nearly over, where's the merchandise?
Commonwealth Games 2010: India beat England on penalties to reach hockey final Telegraph.co.uk
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NDTV.com

India stun England to reach Delhi Games hockey final

AFP - ‎13 minutes ago‎
NEW DELHI - India defeated England 5-4 on penalties in a high-voltage but controversial Commonwealth Games hockey semi-final on Tuesday to book their maiden appearance in the gold medal match.
Full house rocks to India's bullish win Sydney Morning Herald
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Oneindia

Bachchan's KBC wins the TRP race

IBNLive.com - ‎2 hours ago‎
The sonorous voice of Amitabh Bachchan once again rang out loud and clear as the curtains went up on the first episode of Kaun Banega Crorepati Season 4 on Sony Entertainment Television.
Amitabh's KBC4 beats Salman's Bigg Boss 4; ratings down from 2005 IBOS
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Indian Express

John to celebrate Durga Puja with Bipasha

NDTV.com - ‎3 hours ago‎
He has been dating Bengali beauty Bipasha Basu for the past seven years and it looks like Bollywood heartthrob John Abraham is a 'Bong' at heart as he will be celebrating Durga Puja with his lady love in her native Kolkata.
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Oneindia

Anna Hazare's NGO joins anti-'Bigg Boss' brigade

NDTV.com - ‎3 hours ago‎
A day after the Shiv Sena enforced a shutdown in this hill station, social crusader Anna Hazare's organization has demanded a stop to the shooting of Bigg Boss reality TV show, an official said here Tuesday.
Sena calls for a bandh to protest against Bigg Boss Oneindia
Police turn big boss, seal entry points to Lonavla Hindustan Times
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Taiwanese national did not get superbug in Delhi: Health Ministry

Daily News & Analysis - Vineeta Pandey - ‎18 hours ago‎
Fearing an adverse impact on India's medical tourism, the ministry of health and family welfare (MoHFW) strongly denied on Monday claims that the Taiwanese cameraman who was injured in the recent ...
"Taiwanese didn't get superbug here" The Hindu
Taiwan man didn't get superbug from India, says health ministry Hindustan Times
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