2. IOC, ONGC divestment by Q4, to fetch Rs 19K cr: Oil Secy Government expects to complete the ONGC and IOC divestments by the end of this fiscal to raise up to Rs 19,000 crore. 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. (http://economictimes.indiatimes.com/markets/ipos/IOC-ONGC-divestment-by-Q4-to-fetch-Rs-19K-cr-Oil-Secy/articleshow/6537505.cms)
3. I Gold prices may touch Rs 22,000/ 10 gms by year end: Assocham Cash-rich financial institutions like mutual funds may divert investments to bullion in view of uncertainty in the stock market. Currently, gold prices are hovering in the range of Rs 19,550 per 10 gms. (http://economictimes.indiatimes.com/markets/bullion/Gold-prices-may-touch-Rs-22000/-10-gms-by-year-end-Assocham/articleshow/6539811.cms)
4. RBI likely to hike policy rates this week to curb inflation Overall inflation still hovering around 10 per cent. Experts expects 25 basis points increase in short term rates by RBI this week. (http://economictimes.indiatimes.com/news/economy/indicators/RBI-likely-to-hike-policy-rates-this-week-to-curb-inflation/articleshow/6539916.cms)
5. FM concerned over food inflation, asks RBI to take corrective steps 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. The finance minister has also underscored the need for state governments to strengthen the public distribution system (PDS) to provide food to the poor. (http://economictimes.indiatimes.com/features/the-sunday-et/dateline-india/FM-concerned-over-food-inflation-asks-RBI-to-take-corrective-steps/articleshow/6538538.cms)
6. Israel SC dismisses Taro appeal against Sun Pharma 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. 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. (http://economictimes.indiatimes.com/news/news-by-industry/healthcare/biotech/pharmaceuticals/Israel-SC-dismisses-Taro-appeal-against-Sun-Pharma/articleshow/6517377.cms)
7. Posco to get land soon for Rs 54,000 cr project: Virbhadra Singh "Posco will soon get the possession of land for its steel plant to be set up in Orissa," – Singh. The project, billed as India's single largest FDI, failed to take off due to stiff opposition from farmers to part with their land. (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)
8. Market Watch Top Gainers (Previous Week) Top Losers (Previous Week) NSE LIVE 5,640.05 +32.20 (0.57%) BSE LIVE 18,799.66 +132.95 (0.71%) (http://money.rediff.com/)
