Sensex ends lacklustre day 57 points lower

Sensex ends lacklustre day 57 points lower

Mumbai, Dec 30: A key Indian equities index ended a lacklustre day of trading amid range-bound volatility on Wednesday 57 points lower than its previous close.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 17,402.24 points and shut shop at 17,343.82 points, down 57.74 points or 0.33 per cent from its previous close at 17,401.56 points. It had fallen to 17,322.8 points around noon. At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 5,169.45 points, against the previous close at 5,187.95 points, a loss of 0.36 per cent.

Ruchika’s family assured of justice by Home Minister

NEW DELHI, Dec 30: The father of Ruchika Girhotra said after meeting Home Minister P Chidambaram on Wednesday that he was hopeful of getting justice following fresh charges against former Haryana police chief SPS Rathore whose molestation apparently led his daughter to commit suicide. Describing his meeting with Chidambaram at the latter’s office here as “satisfactory”, Subhash Chander Girhotra told reporters: “I am satisfied with the meeting. He (Chidambaram) gave me a patient hearing.”

The meeting came a day after the government decided to act afresh against Rathore, who has been convicted of molesting 15-year-old Ruchika in 1990. The family says he should be charged with abetment to suicide. “I am hopeful we will get justice,” said Girhotra, who was accompanied by his lawyer Pankaj Bhardwaj. The young Ruchika committed suicide three years later in 1993 after she and her family faced continuous harassment at the hands of police.

The ministry called Girhotra and his lawyer to New Delhi to discuss how to pursue the case. “We discussed (with the minister) how to re-open the case. We are hopeful of justice,” the lawyer said. He said Chidambaram knew the facts of the case and “we have put forward our point of view. I have given him some ideas as there are many ways to reopen the case”. Asked when the case was likely to be reopened, Bhardwaj said the Home Minister would talk to his officials and “maybe we will be called again”.

The 67-year-old Rathore, who faces arrest, was on Wednesday refused interim bail by a court in Haryana. Rathore was on Tuesday evening booked by police in two cases of serious and non-bailable criminal charges including attempt to murder, criminal intimidation, forging evidence, wrongful confinement, fabricating false evidence and criminal conspiracy. Girhotra demanded death penalty for Rathore. “He has killed my daughter by misusing his official position. We want the death penalty for him,” he added. (IANS)

Let US, China ratify CTBT first: India

Let US, China ratify CTBT first: India

New Delhi, Dec 29: Japan on Tuesday urged India to sign the Comprehensive Test Ban Treaty (CTBT), but kept the door open for civil nuclear cooperation and high-tech trade in the future. India in its turn put the onus on the US and China to show the way by ratifying the treaty.

Civil nuclear cooperation was among key issues Prime Minister Manmohan Singh discussed with his Japanese counterpart Yukio Hatoyama in wide-ranging talks. They vowed to push for an early conclusion of an economic partnership agreement to scale up trade and investment and cooperate on a range of global issues, including the UN reforms, climate change and nuclear disarmament.

The two leaders signed an ambitious joint declaration entitled “New Stage of India-Japan Strategic and Global Partnership”, which has an action plan on advancing security and counter-terror cooperation as its centrepiece.

Sensex falls off highs, closes flat

Sensex falls off highs, closes flat

MUMBAI, Dec 29: A key Indian equities index gave up its gains on Tuesday to close flat, just 0.24 per cent higher than its previous close, even as broader indices managed sizeable gains. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 17,388.67 points and closed at 17,395.52 points, up 40.95 points or 0.24 per cent from its previous close at 17,360.61 points. It had risen over 125 points to 17,486.05 points in the last hour of trade. At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty ended at 5,187.95 points against the previous close at 5,178.4 points, a gain of 0.18 per cent.

Goldman to buy 9.4% in Max India for $116 mn: Report

Goldman Sachs will pick up a 9.4% stake in Max India for Rs 5.4 billion (USD 116 million), the Economic Times and Business Standard newspapers reported on Sunday, citing the outcome of a board meeting held on Saturday.

Max India will issue compulsory convertible debentures that will be converted to shares after 15 months. The proceeds will be used to fund the company's existing insurance and healthcare businesses, the newspapers said.

Shibu Soren to take oath on December 30

RANCHI, Dec 27: Jharkhand Mukti Morcha (JMM) chief Shibu Soren will be sworn in as Chief Minister on December 30 at the Marabadi grounds here. Soren met Governor K Sankarnarayanan on Sunday afternoon and expressed his desire to take the oath on December 30 and the Governor accepted his request.

“Now Soren will be Chief Minister and I appeal to the people to remain awake,” Soren told reporters after the meeting.

Earlier, the Governor asked President Pratibha Patil to revoke President’s rule in the State to allow a new government to be formed, Raj Bhavan sources said on Sunday. The Governor sent a report to the President on the political situation in Jharkhand after the November 25-December 18 Assembly elections, a source in the Governor’s house told IANS.

Soren on Saturday staked claim to forming the government with a list of 45 legislators supporting him in the 81-member House. He is being supported by the Bharatiya Janata Party (BJP), All Jharkhand Students’ Union (AJSU), Janata Dal-United (JD-U) and two independents.

Protests continue in Telangana

HYDERABAD, Dec 25: The Telangana region remained relatively peaceful on Friday though protests continued for the second consecutive day against the Central Government’s move to put on hold the process of forming a separate state.

The all-party Joint Action Committee (JAC) withdrew its shutdown call in view of Christmas and most parts of Hyderabad and the nine other districts of the region were limping back to normalcy. A group of students at Osmania University here and at Kakatiya University in Warangal, however, continued their fast-unto-death, demanding that the Central Government immediately initiate the process for forming a separate Telangana state.

Additional forces, including paramilitary forces, airlifted from other states were deployed at Osmania University and other parts of Hyderabad and the region to maintain law and order. Shops and business establishments re-opened in the State capital but most petrol stations remained closed. The State-owned Road Transport Corporation (RTC) partially restored bus services here and in other parts of Telangana. The region was rocked by violent protests on Thursday, the first day of the 48-hour shutdown called by the JAC. It, however, decided not to enforce shutdown on Friday following an appeal by Christian groups.

RTC authorities said bus services had been restored only on those routes in the region where police had assured them protection. The bus services from Hyderabad to Vijayawada and other cities in coastal Andhra and Rayalaseema remained suspended. Protesters had burnt at least 15 RTC buses and damaged around 60 since Wednesday evening when union Home Minister P Chidambaram stressed the need to hold consultations with all political parties on the Telangana issue following 13 days of protests in the other two regions of Andhra Pradesh.

People in coastal Andhra and Rayalaseema have been agitating against the Central Government’s December 9 announcement on initiating the process for forming a Telangana state. South Central Railway officials said trains were running as scheduled as there were no reports of train blockades since Thursday night. But coal production in State-owned Singareni Colleries came to a standstill as the workers went on strike demanding a Telangana state. The employees struck work in all the coal mines spread over the four districts of Karimnagar, Warangal, Khammam and Adilabad.

Telangana Rashtra Samiti chief K Chandrasekhara Rao, whose hunger strike forced New Delhi to agree to break up Andhra Pradesh, has resigned from the Lok Sabha to press for his demand for Telangana.

As many as 64 legislators across the spectrum from Telangana had on Thursday submitted their resignations to the Andhra Pradesh assembly speaker. Pressure is mounting on the remaining legislators from the region to also quit. Telangana has 119 legislators in 294-member Assembly. (IANS)

Christmas cheer spreads from Rashtrapati Bhavan

NEW DELHI, Dec 23: Singing carols in the capital this week will be victims of last year’s violence in Kandhamal, Orissa. Even as they put the past behind and spread Christmas cheer, celebrations have begun in right earnest at Rashtrapati Bhavan!

The presidential palace echoed with jingle bells, jingle bells as choir groups from India’s Northeast and Delhi sang one carol after another at a function organized by President Pratibha Patil. Representatives of all Christian groups in India were invited. So were Lok Sabha Speaker Meira Kumar and Prime Minister Manmohan Singh’s wife Gursharan Kaur. “It was a beautiful function,” said a senior Catholic priest, who attended the celebrations at Rashtrapati Bhavan on December 17. The programme featured carol singing by choir groups from Meghalaya, Delhi and Nagaland.

The Christmas message was delivered by Vincent Concessao, the archbishop of Delhi. The festival will be observed all over the country on Friday. As part of its Christmas celebrations, the Delhi Archdiocese is organizing a carol singing programme at India Gate on Christmas Day. “What makes it special is that part of the carols will be sung by the victims of Kandhamal riots who would like to let the world know that Jesus’ birthday is a good occasion to be reconciled with all and to share his message of love,” said an Archdiocese message here.

Christmas carols are based on Christian lyrics and were introduced as part of church services by St Francis of Assisi in the 12th century, say Catholic historians. The word “carol” is derived from the French word caroler, which means dancing around in a circle.

According to a post on share-christmas.com, “Christmas music sure sounds good again, always brings back those memories of years before. Everyone can enjoy some good Christmas music along with their favourite warm drink.” (IANS)

Jharkhand heads for hung assembly, JMM holds key

RANCHI: Congress-JVM(P) combine today won 10 assembly seats and was leading in 20 in Jharkhand while BJP- JD(U) alliance got 7 and was ahead in 17 as the state headed for a fractured verdict with JMM saying it would support any combine that makes its leader Shibu Soren the chief minister. ( Watch Video )

While JMM won 9 seats and was ahead in as many, regional parties JVM(P) and AJSU captured 4 and 3 respectively in the 81-member House. Congress on its own won 6 and BJP 12.

RJD got 2 while another regional party JBSP secured one seat. Others including an independent got 6.

"Our party's stand is whoever will support Guruji (Shibu Soren) for chief ministership, will get our support," JMM's Central Committee Secretary, Supriyo Bhattacharya told PTI.

RJD chief Lalu Prasad said in Patna, "The results are a victory for secular forces. We will explore the formation of a secular government in Jharkhand."

Asked whether he was in touch with Congress leaders including Sonia Gandhi, Prasad said, "Let the final picture of the results emerge first, then only top leaders should discuss."

He suggested that the leaders of secular alliances - Congress-JVM(P), RJD-LJP and JMM - should sit together and explore installation of a secular government.

"I am content that the communal forces represented by BJP have been wiped out with the people rejecting both BJP and JD(U)," he said.

Former chief minister and JVM(P) president Babulal Marandi gave a call for support to the alliance between his party and the Congress and expressed confidence in forming the next government in the state.

"All well-wishers should support our alliance," Marandi said, adding that his party had fought with the Congress and would stand by it.

Among the first results announced was the victory of Geeta Koda, wife of former chief minster Madhu Koda, from Jagannathpur. She defeated her nearest rival Sonaram Birua of BJP by over 20,000 votes.

Geeta was the candidate of the Jai Bharat Samanta Party (JBSP) floated by her husband.

While Congress-JVM(P) alliance won from Daltonganj, Sisai, Bermo and Icchagarh, Speaker Alamgir Alam of Congress lost from Pakur to Akuil Akhtar of JMM by 5,714 votes.

The BJP-JDU won from Kharsawan, Gumla, Simdega, Manika, Ranchi, Chatarpur and Tamar and was leading in 17 seats. A prominent winner of the alliance was C P Singh from Ranchi.

JMM won seven seats - Chaibasa, Sikaripara, Sareikela, Torpa, Jama, Pakur and Dumri. Sita Soren, widow of Durga Soren, the late eldest son of party chief Shibu Soren won the Jama seat.

Senior JMM leader and former deputy chief minister Sudhir Mahto, however, lost the Icchagarh seat to the JVM(P).

Former minister Enos Ekka of the Jharkhand Party Ekka, now in judicial custody in a disproportionate assets case, retained his Kolebira seat.

Shibu Soren's son Hemant wins from Dumka

STAFF WRITER 19:13 HRS IST
Ranchi, Dec 23 (PTI) JMM chief Shibu Soren's younger son Hemant Soren won from Dumka assembly seat defeating his nearest BJP rival Lois Marandi by over 2,000 votes.

Former deputy chief minister and senior Congress leader Stephen Marandi, who was the sitting MLA, emerged third

Sensex zooms 539 pts to close at two-month high

STAFF WRITER 16:49 HRS IST

Mumbai, Dec 23 (PTI) The Bombay Stock Exchange bellwether index Sensex skyrocketed by a hefty 539 points to close at a more-than two months high of 17,231.11 on frenzied short-covering across the board and fresh buying in metals and energy stocks, ahead of the long weekend coupled with the expiry of the derivatives contracts on December 31.

The 30-share Bombay Stock Exchange barometer opened marginally higher but soon gathered steam and kept rising across the day and finally to shut the shop at 17,231.11 points, a level not seen since October 17, netting a massive gain of 539.11 points or 3.23 per cent.

Firm overseas trend, higher advance tax payments by Indian Inc and positive comments by the Finance Minister on economic growth too fuelled the strong rally, especially on the metal counters which remained the hottest pick for the third successive day.

‘No statehood but talks on to solve Gorkhaland problem’

DARJEELING (WEST BENGAL), Dec 21: There was no consensus on the issue of a Gorkhaland state but discussions to find a solution to the problem would continue, union Home Secretary GK Pillai said here on Monday after meeting representatives of the Gorkha Janamukti Morcha (GJM) and the State Government.

“We had detailed discussions with the Gorkha Janamukti Morcha and State Government representatives regarding the formation of a separate Gorkhaland state and various other issues. We’ll continue to hold discussions on this to find a solution to the Gorkhaland problem,” Pillai said at a press conference after the three-hour tripartite meeting. He said GJM representatives had indicated they wanted the discussion to be held at the political level. “Both the Centre and the State Government representatives will place their requests to the respective governments and will come back to the GJM within 45 days. There is no such agreement at all for a separate Gorkhaland state,” Pillai said.

The Central Government in 2005 conferred Sixth Schedule status on the Gorkha National Liberation Front (GNLF)-led Darjeeling Gorkha Hill Council (DGHC), ensuring greater autonomy to the governing body. The meeting, which began at 11 a.m., was attended by a Central Government team led by Pillai and a six-member State Government team headed by Chief Secretary Ashok Mohan Chakraborty. The GJM, led by the party’s general secretary Roshan Giri, was represented by 16 members at the talks being held at the private Mayfair resort in the heart of this hill town. Lieutenant General Vijay Madan, the Central Government-appointed interlocutor, was also present during the meeting. Security across Darjeeling district was stepped up for the meeting, police sources said. The GJM has been spearheading a movement for a Gorkhaland state carved out of northern West Bengal, besides opposing special status for the hill’s governing body DGHC. The Amra Bangali, Bangla Bhasha O Bhasha Banchao Committee, a local outfit protesting the GJM’s demand for a separate state, also started a relay hunger strike in Siliguri plains from Sunday saying that they oppose the “unconstitutional” dialogue with some “aliens” from Nepal. (IANS)

Sensex loses 174.42 points

Mumbai, Dec 18: A benchmark index of the Indian equities markets, dragged down by heavy selling in blue chip stocks like Reliance, Bharti Airtel and ICICI Bank, plunged on Friday to end 174 points lower than its previous close.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,855.91 points, fell sharply in the last 30 minutes of trade to 16,719.83 points, down 174.42 points or 1.03 percent from its previous close at 16,894.25 points. At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty also lost heavily to shut shop at 4,987.7 points, against the previous close at 5,041.75 points, a loss of 54.05 points or 1.07 per cent.

BJP leadership change its internal matter: Cong

BJP leadership change its internal matter: Cong

NEW DELHI, Dec 19: The Congress on Saturday described the change of guard in the Bharatiya Janata Party (BJP) as an internal matter of the party, while the Left said it “doesn’t mean there will be any changes in its policies”. The BJP, which suffered a setback in the Lok Sabha polls this year and the Assembly elections held in some States, has gone in for a generational change in its leadership, choosing younger leaders.

The main Opposition party on Friday appointed Sushma Swaraj as Leader of Opposition in the Lok Sabha, replacing LK Advani. The party also got a new president with its Maharashtra unit chief Nitin Gadkari taking over from Rajnath Singh on Saturday.

Sensex loses 174.42 points

Sensex loses 174.42 points

Mumbai, Dec 18: A benchmark index of the Indian equities markets, dragged down by heavy selling in blue chip stocks like Reliance, Bharti Airtel and ICICI Bank, plunged on Friday to end 174 points lower than its previous close.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,855.91 points, fell sharply in the last 30 minutes of trade to 16,719.83 points, down 174.42 points or 1.03 percent from its previous close at 16,894.25 points. At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty also lost heavily to shut shop at 4,987.7 points, against the previous close at 5,041.75 points, a loss of 54.05 points or 1.07 per cent.

I came to Mumbai to act in films, never seen an AK-47: Kasab

I came to Mumbai to act in films, never seen an AK-47: Kasab

Mumbai, Dec 18: In a dramatic turn around, the lone captured Pakistani terrorist Mohammed Ajmal Amir alias Kasab on Friday retracted his confession made earlier saying that he had come to Mumbai to work in Bollywood films and had never seen an AK-47 rifle in his life.

Retracting the confession made before a magistrate on February 20 this year, Kasab told a special court that he had come to Mumbai at least 20 days before the 26/11 terror attacks. “I was arrested three days before the 26/11 attacks, when I was going around Juhu area with some friends. I was in police custody at the time of the attacks,” he told the stunned courtroom. Special Public Prosecutor Ujjwal Nikam said that he had always anticipated that Kasab would retract his confessional statement.

Indian bank staff strike work but people able to draw money

Indian bank staff strike work but people able to draw money

New Delhi, Dec 16: Banking operations across the country were affected on Wednesday, as an estimated 450,000 workers of state-run and private banks proceeded on a daylong strike, although people were able to withdraw money from automated teller machines.

The All India Bank Employees’ Association (AIBEA) and the All India Bank Officers’ Association (AIBOA) called the strike to protest moves to consolidate the operations of state-run banks. Their talks with the government had failed on Tuesday.

Talk of Balochistan too much: Pakistani envoy

Talk of Balochistan too much: Pakistani envoy

New Delhi, Dec 16: “It is too much”, remarked Pakistani High Commissioner Shahid Malik after an Indian speaker blasted Islamabad over the crisis in Balochistan.

And much to the diplomat’s discomfort, another speaker, this time from Pakistan, compared Islamabad with Kabul in terms of security concerns and terror threats. An exasperated Malik was prompted to say: “It is too much.”

The event was the launch of an autography of the late Baloch leader Mir Ghaus Baksh Bizenjo. A panel discussion followed the book release, organised by Policy and Planning Group (PPG).

Rupee steady at 46.69/70 vs dollar in morning trade

STAFF WRITER 10:42 HRS IST

Mumbai, Dec 16 (PTI) Indian rupee was almost steady against the US currency in late morning trade today on stray dollar sales by exporters as the American unit held at its recent highs amid weak local stocks.

The domestic currency resumed lower at 46.75/77 a dollar against its last close but later recovered and was quoted at 46.69/70 a dollar in late morning deals.

Dealers at the Interbank Foreign Exchange (forex) market said exporters were seen selling dollar in early trade as the dollar held at its 2-1/2-month high against a basket of major currencies in overseas markets.

Local stocks remained weak, extending their losses to fourth straight day today.

Indian benchmark Sensex was down 77 points at 1030 hours while Asian indices were mixed this morning.

Sensex down 67 pts in early trade on global cues

STAFF WRITER 10:21 HRS IST

Mumbai, Dec 16 (PTI) Extending its slide for the third day in a row, the BSE benchmark Sensex lost another 67 points in early trade today, with shares of banking, oil and gas and metal sectors remaining under pressure, on continued foreign capital outflows amid weak global cues.

The 30-share Sensex, which had lost over 240 points in the past two sessions, declined by 67.05 points, or 0.39 per cent to 16,810.11 in early trade.

The wide-based National Stock Exchange index Nifty also drifted by 21.85 points, or 0.43 per cent, to 5,011.20.

Brokers said overnight losses on the US market and weak opening on the Asian bourses mainly dampened the trading sentiments here, triggering selling by foreign funds.

Among losers, heavy-weight, Reliance Industries was down 0.18 per cent at Rs 1,049.50 on increased selling by speculators and funds.

I am for united Andhra, Golden Telangana: Jaganmohan

New Delhi, Dec 15: There was high drama in parliament on Tuesday after Congress MP Y S Jaganmohan Reddy made common cause with his bitter rivals, the Telugu Desam Party (TDP), to press for a united Andhra Pradesh, even as he said he stood for a “Golden Telangana” without specifying what he meant by this.

The division in the Congress ranks was more than evident as party MPs clashed in the Lok Sabha over the Telangana issue, forcing the adjournment of the house for 10 minutes. Telangana figured in the Rajya Sabha too, with the Bharatiya Janata Party (BJP) accusing the government of “playing with the sensitivities of people” on the issue and reiterating its demand for a roadmap on the creation of the separate state.

Sensex 220 points down; banking, auto stocks lose

Mumbai, Dec 15: A benchmark index of the Indian equities markets Tuesday shut shop near its intra-day low, ending 220 points lower than Monday’s close, mirroring the negative sentiments at other Asian markets. Banking, auto and energy stocks lost the most.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,150.59 points, ended at 16,877.16 points, down 220.39 points or 1.29 per cent from its previous close at 17,097.55 points. It had risen more than 102 points during early trade.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty ended at 5,033.05 points, against the previous close at 5,105.7 points, a loss of 1.42 per cent or 72.65 points. Broader market indices also came under selling pressure, with the BSE midcap index down 1.56 per cent and the BSE small cap index ruling a 1.42 percent lower.

Rupee up 12 paise at 46.60 a dollar in early trade

MUMBAI: The rupee today appreciated by 12 paise to 46.60 against the US currency in early trade, after remaining weak for two days, as the dollar weakened against other major currencies.

At the Interbank Foreign Exchange (Forex) market, the Indian rupee strengthened by 12 paise to 46.60 a dollar. The rupee had ended 19 paise lower at 46.72/73 in yesterday's trading.

Forex dealers said dollar's losses against other major units and dollar selling by exporters, mainly supported the rupee's sentiment.

The American currency remained this morning as markets awaited signals from the US Federal Reserve after its two-day policy meeting, they added.

Meanwhile, the Bombay Stock Exchange index Sensex had ended 21.48 points lower at 17,097.55 yesterday

Sensex up 103 points in early trade

MUMBAI: The Bombay Stock Exchange benchmark Sensex today gained about 103 points in early trade on heavy foreign capital inflows as rise in advance tax collection indicated better earnings for the December quarter.

The 30-share index Sensex rose by 102.92 points, or 0.61%, to 17,200.47 points with stocks of metals, realty and auto sectors leading the recovery. The BSE barometer had ended 21.48 points down in the previous trading session.

The wide-based National Stock Exchange index Nifty moved up by 22.70 points, or 0.44%, to 5,128.40 points.

Brokers said trading sentiments turned better after advance tax paid by companies suggested stronger earnings for the December quarter.

Stocks of the country's most-valued firm Reliance Industries traded 0.50% higher at Rs 1,071.70 on pick up in buying activity by funds.

Other gainers were Sterlite Industries up 0.97% to Rs 845.35, Tata Steel by 1.64% to Rs 553.60, Hindalco by 1.57% to Rs 142.30, Tata Motors by 0.43% to Rs 713.50 and DLF Ltd by 0.82% to Rs 385.80.

TOI

India, China key for positive Copenhagen outcome

New Delhi, Dec 14: China today accused the developed world of trying to back out of their obligations to tackle climate change despite being the maximum polluters and pressed for close coordination with India to present a strong front to ensure positive results from Copenhagen.

Describing India and China as “emerging powers” and the “future of the world”, Chinese Ambassador Zhang Yan said the two countries should take a lead in mobilising all developing nations to achieve a “win-win” result wherein development is not made to suffer at the cost of tackling global warming.

Sensex ends 21 points lower, FMCG, banking drag scrips

Mumbai, Dec 14: Profit-booking on Monday pulled down a benchmark index of the Indian equities markets, which ended trade 21 points lower as FMCG, consumer durables and banking stocks came under selling pressure.

Banking stocks suffered as annual rate of inflation, based on wholesale prices, rose sharply to 4.78 per cent in November from 1.34 per cent in the previous month.

High prices rule 2009 shattering myth of negative inflation

High prices rule 2009 shattering myth of negative inflation

New Delhi, Dec 13: India may boast of a negative or near zero inflation for most part of 2009, but cascading price rise, including doubling of even potato, made the year arguably the worst for Aam Admi in over a decade.

And, for the first time, the government saw the fallacy of inflation measured through Wholesale Price Index (WPI) and introduced a new mechanism, wherein food price movement was released on a weekly basis, giving a first-hand account of the impact that essential food articles, fruits and vegetables leave on common man. Although the WPI-based inflation fell to (-)1.74 per cent on August 1, a new mechanism adopted by the government in October to measure inflation revealed that food prices were up almost 20 per cent, the highest witnessed during the past decade. The Congress-led UPA, which returned to power for the second term this year on the plank of “Aam Admi”, was naturally cornered by political parties both inside and outside Parliament for the rising cost of living.

Indian dancer brings ballet

New Delhi, Dec 13: Paris-based Indian dancer Rukmini Chatterjee, who is bringing together European classical ballet, Bharatnatyam and Kathak for the Bonjour Festival here, says she is not in favour of fusing dance forms and each style should retain its identity on stage.

Scientists rejig human evolution

New Delhi, Dec 11: The ancestors of the present-day populations of China, Japan and other east Asian countries had migrated from India, scientists from 10 countries including India said on Friday after achieving a breakthrough in the study of the evolution of humans and their spread across the world. “This is path breaking. This large study establishes that Indians are ancestors of Japanese, Chinese and all other East Asians,” Samir Brahmachari, director general of the Council for Scientific and Industrial Research (CSIR) told on Friday.

Sensex ends 0.41 per cent down

Mumbai, Dec 11: A benchmark index of the Indian equities markets ended trade on a weak note on Friday, slipping 0.41 per cent after lower than expected industrial production data acted as a dampner. Banking, telecom and realty stocks came under selling pressure.

The country’s industrial output is projected to have expanded 10.3 per cent in October, as per the latest official data released on Friday, lower than what analysts had predicted.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,199.74 points and rose more than 162 points during the morning session, ended trade at 17,119.03 points, down 70.28 points or 0.41 per cent from its previous close at 17,189.31 points. At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty too ended in the red at 5,117.3 points, against the previous close at 5,134.65 points, a loss of 17.35 points or 0.34 per cent.

President Patil to get on board INS Viraat Dec 23

New Delhi, Dec 10 (IANS) After making history by becoming the first woman in India to fly in a fighter jet, President Pratibha Patil will now get on board India’s lone aircraft carrier INS Viraat in Mumbai Dec 23.

‘The president is our supreme commander and she can any time get on board any of our warships,’ an Indian Navy officer told IANS.

Confirming that Patil would observe her first ‘Day at Sea’ on board INS Viraat, the officer said she will be on the aircraft carrier on Dec 23 in Mumbai.

Every president conducts Fleet Review once during his/her tenure.

The 74-year-old president became the first woman to fly in a Sukhoi Su-30 jet of the Indian Air Force (IAF) from Lohegaon Air Base in Pune Nov 25.

The 28,000-tonne INS Viraat, the Centaur class aircraft carrier, was originally commissioned in the British Royal Navy as HMS Hermes Nov 18, 1959. The Indian Navy acquired the platform in 1987 after it had served the Royal Navy for nearly 28 years.

INS Viraat is pivotal to the navy’s aim to project its naval and air power beyond its borders. It provides operation ground for Sea Harrier combat jets. It can embark up to 18 combat aircraft and is suited for supporting amphibious operations and conducting anti-submarine warfare.

Sensex closes off day’s high

Mumbai, Dec 10 (IANS) A key index of the Indian equities markets closed at its day’s high Thursday, 47 points above the previous close.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) that opened at 17,107 points closed at 17,166.73 points, up 47.5 points from Wednesday’s close at 17,125.22 points.

The benchmark index, which opened lower, had hit an intra-day of 17,231.05 in afternoon but shed some gains towards the close.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed at 5,129.45 points, against the previous close at 5,112 points, a gain of 0.34 percent.

Broader market indices were also in the green owing to buying activity in smaller scrips, with the BSE smallcap index closing 0.83 percent higher and the BSE midcap index up 0.27 percent.

Govt to auction only 3 slots of 3G spectrume

STAFF WRITER 14:57 HRS IST

New Delhi, Dec 10 (PTI) In a surprise move that could deprive it of over Rs 5,000 crore in revenue, the government has said the 3G telephony spectrum available with it for sale currently could accommodate only three operators.

A fourth slot has already been awarded to state-owned MTNL (that operates in Delhi and Mumbai) and BSNL (rest of India).

It had earlier planned to auction spectrum to four private bidders, in addition to the state-run firms.

The decision comes in the wake of the Ministry of Defence's reluctance to vacate the designated spectrum (air waves) for commercial use, official sources said, adding that the required notification would be issued soon.

The government has fixed the reserve price of spectrum at Rs 3,500 crore for pan-India 3G spectrum and Rs 1,750 crore for Wimax (wireless ineternet/broadband) and the auction is scheduled to begin from January 14 next year.

Telangana to become the 29th state

STAFF WRITER 11:24 HRS IST

Hyderabad, Dec 10 (PTI) The decision to carve out a separate state of Telangana, which will take the total number of states in the Union to 29, comes at the end of a 40-year- old struggle for a distinct identity.

This comes after a gap of nine years when three new states were carved out. Jharkhand split from Bihar on November 15, 2000 to become the 28th state while Uttarakhand split from UP on November 9 and Chattisgarh was created on November one the same year.

Andhra Pradesh has 23 districts, including the state capital Hyderabad, in three regions ? coastal Andhra (nine), Rayalaseema (four) and Telangana (ten).

Since its inception in 2001, the Telangana Rashtra Samiti (TRS) has been fighting for creation of a separate Telangana state. Telangana region now accounts for 119 of the 294 seats in the Assembly and 17 of the 42 Lok Sabha members.

Centre concedes demand for Telangana state, KCR ends fast

STAFF WRITER 1:4 HRS IST

New Delhi/Hyderabad, Dec 9 (PTI) Buckling to pressure, the Centre tonight conceded to the demand for a separate Telangana state for which the process will be initiated and an appropriate resolution will be moved in the Andhra Pradesh Assembly.

Shortly after the announcement of the decision by Union Home P Chidambaram in New Delhi to create the new state, TRS chief K Chandrasekhar Rao ended his 11-day fast undertaken to press for Telangana state.

The decision on Telangana was taken at a late night meeting Prime Minister Manmohan Singh had with Andhra Pradesh Chief Minister K Rosaiah after two rounds of consultations in the Congress Core Committee with Sonia Gandhi and senior cabinet colleagues.

"After these consultations, I am making this statement. The process of forming the state of Telangana will be initiated.

Sensex ends 100 points lower; metals, banks down

MUMBAI: Equities ended rangebound session in the negative terrain Wednesday in line with other global markets. Metals, banks and power stocksled the decline while IT and auto showed some resistance.

Bombay Stock Exchange’s Sensex closed at 17123.08, down 104.60 points or 0.61 per cent. The index touched an intra-day low of 17057.37 and high of 17227.96.

National Stock Exchange’s Nifty closed at 5112.85, down 35.10 points or 0.68 per cent. The 50-share index hit a high of 5147.65 and low of 5090.60.

BSE Midcap Index was down 0.60 per cent and BSE Smallcap Index moved up 0.41 per cent.

Amongst the sectoral indices, BSE Metal Index was down 2 per cent, SE Bankex slipped 1.43 per cent and BSE Power Index declined 0.59 per cent. BSE IT Index was up 0.82 per cent, BSE Auto Index moved up 0.69 per cent.

Biggest Sensex gainers were Maruti Suzuki (2.99%), Hero Honda (1.69%), Wipro (1.54%), Sun Pharmaceuticals (1.29%) and Tata Consultancy Services (0.99%)

Tata Steel (-3.97%), Hindalco Industries (-3.01%), Sterlite Industries (-2.93%), HDFC (-2.33%) and ICICI Bank (-1.96%) were the losers.

Market breadth on BSE, however, remained positive with 1511 advances outnumbering 1307 declines.

ET

Mallya ties up with Dutch brewer Heineken in India

Bangalore, Dec 7: Liquor baron and chairman of UB Group Vijay Mallya on Monday entered into a strategic alliance with leading Dutch brewer Heineken NV to distribute its beer in India.

As per the agreement, the UB Group, including United Breweries Ltd (UBL) and United Breweries Holdings Ltd (UBHL), and the $14.32-billion Heineken group have resolved their differences and decided to withdraw litigations between them. “The new alliance will offer consumers a portfolio of national and international brands in India, including UBL’s Kingfisher and Heineken, the largest global beer brand,” the company said in a statement here. Around 25 million glasses of Heineken are consumed the world over every day.

End discord at Ayodhya in the name of religion: Youth

New Delhi, Dec 8: A hospital at Ayodhya rather than a temple or a mosque, as politicians play the blame game over the Liberhan Commission report on the Babri Masjid demolition, that is the radical solution for peace offered by a section of the youth who were either not born or too young to know what was happening that December of 1992.

No more discord in the name of religion, is the echo as many youngsters look to a new India with better hospitals and better infrastructure for its people. Shalini Pandey (23), a journalist, said: “I am not concerned at all about what had happened. People should forget and move forward without constructing anything there. But a 20-bed hospital will do fine.” Dishank Sadana, a theatre artist, who is the same age echoed the sentiment.

Sensex ends 118 points down

Mumbai, Dec 7: A key indian equities index ended trade 118 points in the red on Monday as heavyweight stocks came under selling pressure.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) that opened at 17,106.74 points closed at 16,983.14 points, down 118.4 points or 0.69 percent from Friday’s closing at 17,101.54 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed at 5,066.70 points, against the previous close at 5,108.9 points, a loss of 0.83 percent. Broader market indices were also in the red, with the BSE midcap index closing 0.79 per cent down and the BSE small cap index 0.41 per cent lower.

BJP slams Liberhan panel as biased

New Delhi, Dec 7: The BJP today said the demolition of the disputed structure at Ayodhya was a result of public anger and asserted that it would build a Ram temple at the same site for “national justice”, as it slammed the Liberhan Commission report as “a political document” which is “biased”.

Opening BJP’s defence on the report which has indicted a number of its leaders, party chief Rajnath Singh said in the Lok Sabha that the Liberhan Commission report was “a bundle of grave errors” and its intent appeared to be “pre-decided” and aimed at “character assassination” of certain political leaders and parties. The Commission has reached “bizarre” conclusions, he said during the debate and took strong objection to the adverse comments made against former Prime Minister Atal Bihari Vajpayee and senior leaders L K Advani and M M Joshi.

He said the report was “not unbiased” and said it was a “political document of character assassinations” as legal criteria for indictment had been ignored. “Whatever happened on December 6, 1992, was a result of public anger. There was no mosque at the site since 1936,” he said, amid repeated disruptions caused by objections from Congress and some other parties like Samajwadi Party.

Lawsuit filed against Paa

Patna, Dec 5: A lawsuit has been filed in a court here charging Bollywood superstar Amitabh Bachchan with violating the disabilities act through his latest film Paa in which he plays a 13-year-old boy suffering from progeria, which accelerates the ageing process. Big B has been accused of poking fun at people with disabilities. The case has been filed by Patna High Court lawyer Shruti Singh in the court of the Chief Judicial Magistrate under The Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995. It has also been filed against Paa director R Balkrishna. “I filed a case in the court demanding a probe into whether Paa violated the act or not,” Singh said on Saturday. “My stand is simple: If it violated the disability act, the authorities should act against the producer and actors of the film for making a joke of disabled people,” she added. She said the court will hear the case next week. According to Singh, the act is guided by the philosophy of empowering people with disabilities and their associates. (IANS)

Expanding civil nuclear cooperation tops PM’s Russian agenda

New Delhi, Dec 5: Close on the heels of his visit to Washington, Prime Minister Manmohan Singh heads for Moscow on Sunday on a three-day trip with expansion of civil nuclear cooperation and an extended defence pact topping the agenda.

The agreement, expected to be inked during the annual summit talks between Manmohan Singh and Russian President Dmitry Medvedev on Monday, will ensure continuation of Moscow’s support for the ongoing civil nuclear programme in India and will ensure any unforeseen disruption of fuel supply and technology from Russia for nuclear power projects in India.

Thousands of disabled people celebrate World Disability Day

NEW DELHI, Dec 3: Some were on wheelchairs, others used sign language to communicate and hundreds were standing firm with white sticks - over 5,000 physically challenged people took part in World Disability Day functions here on Thursday hoping to draw attention to their plight.

Having come together at the India Gate lawns in the heart of the capital, these differently-abled people from across the country stood shoulder to shoulder raising slogans of unity. Later, they sat to watch the cultural show of young visually impaired children. “On this day for the past three years we all gather here. There are times when it feels like a ritual. We organize the event because on this day (the World Disability Day) we can draw attention to our plight,” said Javed Abidi, convenor of the Disabled Rights Group (DRG).

Abidi added that the estimated 70 million disabled people in the country were rooting for a separate ministry for disability affairs and fulfilment of promises in the 11th Five Year Plan - that each ministry should have a clear cut plan of action on disability issues and allocate three per cent of resources for improving the infrastructure.

Voicing the sentiments of the hundreds of deaf and mute, blind, autistic and other physically challenged individuals, the wheelchair-bound Abidi said: “Government, politicians, media, civil society all suddenly get a jolt on December 3 and wake up to the reality we live each day.”

Kiran, a visually challenged girl said: “Even though we don’t want to, we continue to be a burden on society. Where are the opportunities that the government promises?” Abidi said: “Almost 63 years after Independence only 10 per cent of India’s disabled citizens have access to something as basic a disability certificate that ensures them benefits. This process needs to be made faster and easier than the five-month long tedious procedure followed now.”

“How much does it take to ensure that all universities appoint a disability coordinator...union budgets have not allocated any money to make our hostels, libraries and labs barrier-free. Authorities really need to become more sensitive,” he added. Ramp at bus stands and schools, more spacious toilets in government and business establishments can go a long way to ease problems of people with disability, said Sanjay, a coordinator from an NGO.

The massive gathering of people hailed from states like Tamil Nadu, Rajasthan, Bihar, Gujarat, Jammu and Kashmir, Uttar Pradesh and Delhi. (IANS)

Brawl at dhaba

DIBRUGARH, Dec 1: A midnight brawl at a roadside dhaba at Chabua left one injured last night. According to reports, one Kundan Singh and president of the Chabua unit of the Bhojpuri Parishad, Ajay Misra, were drinking when an argument broke out between the two and the former hit the latter with an iron rod. The Parishad’s official had to be admitted to a private nursing home here. The families of the two lodged complaints at Chabua police station against each other.

Tata to produce hybrid Nano model in India

India’s Tata Group has announced plans to produce hybrid versions of its cheapest vehicle - the Nano - in its home market.

The Nano, which at 100,000 rupees (£1,306) for a basic model is the cheapest car in the world, first became available in India in July this year.

Ratan Tata, the chairman of both Tata Group and Tata Motors, India’s largest car producer, told the Maeil Business Newspaper in South Korea today that the firm now intends to produce a new vehicle that can run both on petrol or diesel and a battery.

He added that low-priced goods would continue to drive sales more quickly in India than high-cost goods, but the so-called price revolution would continue to spread across the world.

Tata’s move follows the announcement earlier this month by Carlos Ghosn, chief executive of both Renault and Nissan, that it had signed a deal with Indian partner Bajaj Auto to create a car able to trump any other, including the Nano, in terms of fuel efficiency by 2012 and market it in India.

‘Media a problem in India-Pakistan relations’

Hyderabad, Dec 1: Eminent Pakistani journalist Najam Sethi on Tuesday said media in both India and Pakistan is trapped in “narrow nationalism” and is part of the problem in relations between the two countries.

Speaking at the inaugural session of World Newspaper Congress after receiving the World Association of Newspapers (WAN) Golden Pen of Freedom award here, Sethi said the media in both the countries was too intensely nationalistic and had pushed them to the brink of war after last year’s terrorist attacks in Mumbai. “After Mumbai last year, both the media put on the war paint and pushed their governments to the brink of war,” said Sethi, the editor-in-chief of the Friday Times and the Daily Times.

Contending that media is part of a problem rather than solution in India-Pakistan relations, he gave instances of media stalling the peace dialogue at critical points. “In 1989 when the then Indian Prime Minister Rajiv Gandhi visited Pakistan, the Pakistani media stopped (the then Pakistan Prime Minister) Benazir Bhutto’s government from implementing the far-reaching cultural accords that were signed on that occasion. When Mr Gandhi went back, the Indian media stopped him from moving ahead on Siachen accord inked by the defence secretaries of the two countries in Pakistan,” he said.