Gold futures hit crucial 20k-level first time on global cues
Gold surged to hit a crucial Rs 20,000 per ten gram level for the first time in futures trade on Monday on hectic buying by speculators, tracking strong global trend.
At the Multi Commodity Exchange counter, gold for June- month delivery surged by Rs 132 to hit a record high of Rs 20,007 per ten gram, with a volume of one lot.
Similarly, the metal for delivery in December gained Rs 90, or 0.46 per cent, to Rs 19,619 per ten gram, with a turnover of three lots
Infosys Q2 net rises 16.7% to Rs 1,737 crore Infosys, which counts the BT Group and BP among its top customers said its net profit for the second quarter rose to Rs 1,737 crore, up 16.7% compared to the preceding June period. Revenues during the quarter to September were Rs 6,947 crore, reporting an annual growth of 24.4%. Its revenues in the year ending March 2011 will be between $5.95 billion-$6 billion, up 25.6% to 26.8% from the previous year.
RBI rate hike seen after September inflation rises to 8.62% The annual rate of inflation based on the revamped wholesale price index based rose to 8.62% in September from 8.51% in August. The central bank has already raised policy rates by 125 basis points in five equal amounts this calendar and was expected to pause, but sticky inflation could force it to continue with monetary tightening. RBI may lift rates by 25 bps in its November 2 policy review.
CWG a hit, but probe graft: TOI poll England , Australia and Scotland were close to pulling out of the Games over security fears and the Village mess, but the intervention of Delhi CM Sheila Dikshit led to a change of heart. 88% say India now a sporting nation’ The rich medal haul and India finishing second to Australia in the tally of gold medals have clearly captured the imagination of many.
CONTD……… 88% expressed the view that India has arrived as a sporting nation estimate that sport buffs may not yet share. The success of the Games also seems to have whetted the appetite for more such mega sporting events. When asked if India should now make a bid for the Olympics in 2020, 82%. The most common response—voiced by 33% of those polled—was poor infrastructure .