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Weekly news 9

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    Weekly news 9 Weekly news 9 Presentation Transcript

    • Weekly
      News updated
      18-10-2010 to 24-10-2010
      Compiled by :
      NavneetSuri
      Mba- 2(a)
    • Government won’t set price of natural gas: oil secy
      Companies will continue to have the right to discover the market price of the fuel and the government will in no way dictate the rates.
      The contractor has the freedom to discover the price and the government only approves it.
    • GM India to come out with electric car next year
      It would be environment friendly small car and would be a battery operated car.
      In a joint collaborations with China's SAC GM will bring three value package car.
      It would be soon be commissioning the power train facility wherein both petrol and diesel engines are going to be manufactured together.
    • CIL gets 34% subscription
      • COAL India’s initial public offering received bids for 34% of the offer on the first day with three to go
      • According to National Stock Exchange data, Investors (Mostly Institutional) bid for 21.3 crore shares and Indian IPOs seeking for highest bid on the last day of the IPO
      • Retail Investors bid for 0.023 times the shares reserved for them while Institutional Investors bid for 0.046 times the shares reserved for them on the first day
    • Direct Tax rises 19% in H1
      • Direct tax collections rose 19% in the six months ending on September increasing the chances of government to raise the budgeted figure
      • With IOC expected to hit the market late this year the government looks comfortably placed to raise the budgeted Rs 40,000 crore from stake sales in public sector firms
      • Government managed to raise Rs 1,81,758 cr during current year as compared to Rs 1,52,625 cr in the last year
    • Food Infaltion up at 16.37% vs 16.24%
      India’s food price index rose 16.37% while the fuel price climbed 11.14% in the year to October 2.
      In the prior week, annual food and fuel inflation stood at 16.24% and 10.73%, respectively.