Power news3

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Power news3

  1. 1. Power NEWS(5th Sept- 12Sept, 2010)<br />- SumitKalra<br />
  2. 2. IOC, ONGC divestment by Q4, to fetch Rs 19K cr: Oil Secy<br />Government expects to complete the ONGC and IOC divestments by the end of this fiscal to raise up to Rs 19,000 crore.<br />Government plans to sell 5 per cent stake in Oil and Natural Gas Corporation (ONGC) and 10 per cent in Indian Oil Corporation (IOC) through the follow-on public offer.<br />(http://economictimes.indiatimes.com/markets/ipos/IOC-ONGC-divestment-by-Q4-to-fetch-Rs-19K-cr-Oil-Secy/articleshow/6537505.cms)<br />
  3. 3. I Gold prices may touch Rs 22,000/ 10 gms by year end: Assocham<br />Cash-rich financial institutions like mutual funds may divert investments to bullion in view of uncertainty in the stock market.<br />Currently, gold prices are hovering in the range of Rs 19,550 per 10 gms.<br />(http://economictimes.indiatimes.com/markets/bullion/Gold-prices-may-touch-Rs-22000/-10-gms-by-year-end-Assocham/articleshow/6539811.cms)<br />
  4. 4. RBI likely to hike policy rates this week to curb inflation<br />Overall inflation still hovering around 10 per cent.<br />Experts expects 25 basis points increase in short term rates by RBI this week.<br />(http://economictimes.indiatimes.com/news/economy/indicators/RBI-likely-to-hike-policy-rates-this-week-to-curb-inflation/articleshow/6539916.cms)<br />
  5. 5. FM concerned over food inflation, asks RBI to take corrective steps<br />Food inflation rose to 11.47% for the week ending August 28 from 10.38% in the preceding week as rains disrupted supply of essential items.<br />The finance minister has also underscored the need for state governments to strengthen the public distribution system (PDS) to provide food to the poor.<br />(http://economictimes.indiatimes.com/features/the-sunday-et/dateline-india/FM-concerned-over-food-inflation-asks-RBI-to-take-corrective-steps/articleshow/6538538.cms)<br />
  6. 6. Israel SC dismisses Taro appeal against Sun Pharma<br />Supreme Court of Israel said there were no legal or moral grounds upon which to require Sun to comply with the STO (special tender offer) rules.<br />This news saw Sun Pharma shares rise nearly 3 per cent to Rs 1,773.95 on the National Stock Exchange. The stock touched a high of Rs 1,848 versus a low of Rs 1,740.<br />(http://economictimes.indiatimes.com/news/news-by-industry/healthcare/biotech/pharmaceuticals/Israel-SC-dismisses-Taro-appeal-against-Sun-Pharma/articleshow/6517377.cms)<br />
  7. 7. Posco to get land soon for Rs 54,000 cr project: Virbhadra Singh<br />"Posco will soon get the possession of land for its steel plant to be set up in Orissa," – Singh.<br />The project, billed as India's single largest FDI, failed to take off due to stiff opposition from farmers to part with their land.<br />(http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/steel/Posco-to-get-land-soon-for-Rs-54000-cr-project-Virbhadra-Singh/articleshow/6537335.cms)<br />
  8. 8. Market Watch<br />Top Gainers (Previous Week)<br />Top Losers (Previous Week)<br /> NSE   LIVE<br /> 5,640.05  <br />+32.20 (0.57%)<br /> BSE   LIVE<br /> 18,799.66   <br />+132.95 (0.71%)<br />(http://money.rediff.com/)<br />

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