(25th Oct – 31st Oct, 2010)
- Sumit Kalra
Google bans phone apps used in
1. A controversial mobile phone application, which
helps a cell phone user read the text messages of
others secretly, has been removed from sale by
internet search engine Google.
2. Once installed on a mobile phone, the Android
phone application automatically creates carbon
copies of incoming text messages and forwards
them to a selected number - prompting fears it
could be used by jealous lovers and even work
colleagues to snoop on private messages.
Inflation matter of concern: FM; RBI
could take some steps
1. The overall inflation for September was at 8.62 per
cent, much higher than RBI's acceptable level of 5-
6 per cent.
2. Food inflation, which is reigning in double digit for
the past three months, is feeding the overall
inflation numbers. Food inflation in mid-October
stood at 13.75 per cent.
3. The central bank is expected to hike policy rates by
25 basis points to tame inflationary pressure.
Wal-Mart urges India to open retail
1. The world's number one retailer Wal-Mart said
on Thursday it could open "hundreds of stores"
in India if the government opened up the
country's giant retail sector to foreign investors.
2. Foreign groups such as Wal-Mart can currently
only be wholesalers and must partner with
domestic firms to sell in India.
3. India has recently kicked off a public debate on
allowing foreign supermarkets to open stores in
India, a key reform pushed for by economists
seeking greater liberalization in the economy.
FII biggies cashing out on listing
1. FUNDS run by Citigroup, Morgan Stanley and
Goldman Sachs are among those that sell shares
on the listing day to reap the riches from initial
public offerings (IPOs), contrary to popular
perception that top institutions are long-term
2. Most recent listings have plunged below their IPO
sale prices, partly due to these funds cashing out,
and also because of the unsustainable valuations
at which they were sold compared with their
earnings and revenues.
Reliance Industries Q2 net up
27.8%, beats f'cast
1. Energy major Reliance Industries posted record
profit for the September quarter, beating
estimates, bolstered by higher gas output from its
field off India's east coast and improved refining
2. Gross refining margin at Reliance's flagship refining
business in the September quarter was $7.9 per
barrel, up from $7.3 per barrel in April-June and in
line market estimates of $8 per barrel.
Gold surges on global cues, silver
hits record high
1. Gold prices shot up further at the bullion market
heavy buying by stockists and speculators
triggered by steep rise in the overseas markets.
2. Silver raced ahead to touch a new historic high
and came within a striking distance of yet another
milestone of Rs 38,000 a kg due to frantic buying
by seasonal traders and stockists in tandem with
strong industrial support.
3. Pure gold (99.9 purity) also rose by a similar
margin to end at Rs 19,760 from yesterday's
closing of Rs 19,545.
Top Gainers (Previous Week)
Company Group Previous Close (Rs) Current Price (Rs) % Change
Top Losers (Previous Week)
Titan Ind Ltd. A 3,300.10 3,761.10 + 13.97
Shriram Trans.Fi A 765.90 857.05 + 11.90
Jain Irrigation A 1,149.20 235.15 -79.54
Sintex Industries A 429.20 210.00 -51.07