Rupee gains 8 paise against dollar in early trade

MUMBAI: The rupee strengthened by 8 paise to Rs 45.76 against the US dollar at the Interbank Foreign Exchange market in the morning trade today, tracking gains in other Asian currencies.

Dealers said that Euro losses against the dollar and firm opening at Indian stock markets led to the buoyancy of the rupee.

The rupee had lost 32 paise to close at Rs 45.84/85 against the US dollar in the previous session on strong demand for the American currency from importers amid sharp fall in stock markets.

Meanwhile, the Bombay Stock Exchange index Sensex recovered by 133.48 points or 0.69 per cent to 19,270.09 level in the opening trade today.


Read more: Rupee gains 8 paise against dollar in early trade - The Times of India http://timesofindia.indiatimes.com/business/india-business/Rupee-gains-8-paise-against-dollar-in-early-trade/articleshow/7008697.cms#ixzz16fskVivt

Sensex rebounds after 4-day fall, up 268 pts led by RIL

MUMBAI: Snapping its 4-day weak trend, the Bombay Stock Exchange benchmark Sensex today shot up over 268 points as investors judged the recent fall excessive in view of the sound economic growth outlook and a firm global trend.

The Sensex, which had lost over 820 points in the last four trading sessions following housing scam racket last week, bounced back 268.49 points to 19,405.10 on the back of a steep rise in blue-chip stocks led by Reliance Industries and Ranbaxy lab.

The Sensex has lost 7.6 per cent since reaching all-time high on November 5, on account of 2G spectrum allocation scam and the CBI arrest of eight senior officials of public banks and a private brokering firm on charges of bribery.

The broad-based National Stock Exchange index Nifty also picked up and posted a gain of 78.05 points at 5,830.00.

The upsurge in the market on expectations of better GDP data to be released tomorrow, further supported by a firming trend in the Asian region and higher opening in Europe this afternoon.

Reliance Industries, the most valuable company and heaviest weighted on the benchmark, surged the most since May by adding 3.70 per cent to 998.20. Ranbaxy gained the most in a month, rising 3.84 per cent to Rs 565.75, on reports that it has got US approval to sell Aricept, Alzheimer's treatment drug.

The recently bashed banking and realty stocks were seen recovering on fresh buying by funds in fundamentally strong scrips available at cheaper rates.

The oil and gas sector index was the best performer followed by banking sector, as stocks led by ICICI Bank, State Bank of India and Bank of India ended with gains.

LIC Housing Finance, which had lost significant ground after the break of the lending scam, recovered by 1.72 per cent to Rs 948.10 on renewed interest in buying.

Meanwhile, Money Matters, a company at the centre of the controversy remained under pressure and hit its daily lower limit by losing 10 per cent at Rs 344.30. It has recorded a loss of 50 per cent since the outbreak of the finance racket.

Another firm in trouble after the CBI probe, D B Realty dropped 6.49 per cent to Rs 198 on panic selling.

Read more: Sensex rebounds after 4-day fall, up 268 pts led by RIL - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-rebounds-after-4-day-fall-up-268-pts-led-by-RIL/articleshow/7010481.cms#ixzz16fsaeiXF

DIN: New number must to file returns

NEW DELHI: Taxpayers will now have to procure a 'new number' for filing returns and making any communication with the Income Tax department. The unique Document identification number (DIN), on the lines of numbers like PAN and TAN, will be quoted on "every" income tax-related communication, including returns to be filed next year for the financial year 2010-11. According to the new guidelines brought out by the Central Board of Direct Taxes (CBDT), the DIN will be mandatory "in respect of every notice, order, letter or any correspondence" with the department, by the taxpayers.

"The DIN will be generated by the I-T department and will be useful, essentially, for error-free filing of tax returns, claiming refunds and other communication with the department by the assesses," a senior Finance Ministry official said.

The 'Aykar Sampark Kendras' will hand out the DIN from this month, the official said. Assesses will not be put to any trouble, as the numbers will be generated and allotted by the department itself.

I-T officials will also be allotted the numbers in order to streamline the process, the official said, adding, the number has to be produced thereon for every activity with the department. Taxpayers and tax collectors are currently required to quote Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) among others when returns are filed with the department.

Read more: DIN: New number must to file returns - The Times of India http://timesofindia.indiatimes.com/business/india-business/DIN-New-number-must-to-file-returns/articleshow/7008065.cms#ixzz16frda85j

Sensex dips 182 pts on housing finance racket

MUMBAI: The 30-share Sensex on Friday slumped below the crucial 19,000-level in intra-day trading as the housing loan scam continued to hammer realty stocks, closing with a loss of about 182 points, although it regained the psychological mark.

Sensex started the day on a firm note but soon lost ground in a highly choppy trade, and finally settled at 19,136.61, shedding 181.55 points or 0.94 per cent from previous close.

Continuing its fall for the fourth consecutive session, the barometer had tumbled by 363.34 points to 18,954.82 during the trade -- the level last seen on September 13.

Crisis in Ireland and South Korea, interest rate hike in China, and a string of scams including 2G spectrum row and housing loan racket, has seen the Sensex plummet by 896 points or 4.47 per cent so far this month.

In a similar fashion, the National Stock Exchange's broad based Nifty also tanked by 47.80 points to finish at 5,751.95.

Marketmen said the continuous fall is an over-reaction to the negative news and also called it a buying opportunity for the investors.

"Sensex is on a falling spree due to the hammering in the blue chips including realty and banking shares in the wake of the ongoing investigations in the housing loan scam, which is just an over-reaction and market is bound to bounce back as the fundamentals are strong," CNI Research CMD Kishore P Ostwal said.

Realty stocks were beaten yet again with Jai Prakash Associates settling at Rs 105.75 with a loss of 8.04 per cent. The counter emerged as the worst performer among the 30 Sensex scrips. Another realty giant DLF too witnessed a plunge of 1.71 per cent to close at Rs 287.75.

Besides, continuing weakness in the heavy weights including Reliance Industries and ITC also triggered the fall in the Sensex. While the former saw a dip of 1.81 per cent, the latter slipped by 1.41 per cent on BSE.

However, the banking stocks rebound today, giving support to the market, with the country' largest lender SBI and the private sector giant ICICI Bank surging 1.16 per cent and 0.68 per cent respectively.

"Buying at lower levels gave strength to the banking blue chips," said an expert.

All the 13 sectoral indices ended the day in the negative terrain with IT and banking sectors losing marginally.

Among the IT stocks, the bellwether Infosys Technologies and the software major Wipro lost 0.76 per cent and 0.55 per cent respectively, while TCS was the best performer with a gain of 2.14 per cent.

Of the 30 Sensex components, 24 ended the day on a weak note, while rest including Cipla (1.16 per cent) and Tata Power(1.15 per cent) ended with gains.

Read more: Sensex dips 182 pts on housing finance racket - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-dips-182-pts-on-housing-finance-racket/articleshow/6992978.cms#ixzz16OS0joAt

Sensex opens 97 pts up in early trade

MUMBAI: The Bombay Stock Exchange benchmark Sensex opened 97 points up today, on fresh buying by funds at attractive lower levels amid mixed trend in Asian regions.

The 30-share index, which has lost nearly 640 points in the previous three sessions, recovered 97.08 points to 19,415.24 level during the first five minutes of trading.

Similarly, the wide-based National Stock Exchange index Nifty also gained 38.75 points to 5,838.50 points.

Brokers said fresh buying by foreign funds in capital goods, informational technologies and, oil and gas stocks coupled with mixed trend in Asian markets influenced the trading sentiment.

In other Asian markets, the Hong Kong's Hang Seng Index was marginally up by 0.09 per cent, while Japan's Nikkei Index was trading 0.02 per cent down in morning trade.

TOI

From Jan 20, switch mobile operator but keep number

NEW DELHI: Exasperated with your present mobile service provider but unwilling to switch because that would mean changing your number? Soon, you'll be free to change operators at will, for a nominal transaction fee of Rs 19. On Thursday, telecom minister Kapil Sibal launched mobile number portability (MNP) in Haryana. Nationwide implementation is expected to be completed by January 20.

Of course, the implementation of MNP has missed many deadlines. In March 2006, Trai had recommended that MNP be implemented by April 1, 2007. In December 2009, the government set a deadline of March 31, 2010 for its implementation, which was extended to June 30, 2010 and later to October 31, 2010.

From Friday, mobile phone customers in Haryana can port their numbers provided a minimum period of 90 days has elapsed after subscription to the mobile service of the current service provider. For change of service provider or porting, a subscriber has to send an SMS (PORTMobile Number) from the number s/he wishes to be ported, to number 1900 whereby a Unique Porting Code (UPC) will be received on SMS from the current serviceprovider. The subscriber will need to apply in the prescribed application form to the chosen new service provider quoting the UPC which will act as a reference while filling up the application form with the new service provider.

The new service provider will then take action to get the required processes completed to enable the subscriber to get connected to his network. Porting has to be completed within seven working days. Before making the porting request, subscribers have to make sure that their last bill has been paid failing which the request for change to new service provider shall be rejected. In the case of pre-paid subscribers any balance amount left will not be carried forward when the number is transferred to the new service provider.

MNP works best with post-paid customers, as they are the highest paying of the lot. Of India's over 700 million users, post-paid customers are no more than 7%-8 %, while the rest are pre-paid. Even with an expected 5% churn in the post-paid category, a limited impact on price or quality is expected, as the larger pre-paid customers usually don't worry about changing mobile numbers, while switching operators. Operators believe they will lose and gain roughly the same number of users.

However, a recent study by The Nielsen Company said that as many as 18% of India's mobile subscribers are waiting to change their operator.

This contrasts severely with data flaunted by India's mobile operators, who have not supported the launch of MNP for many years on the grounds that globally, only 1% of mobile consumers port their numbers, which makes the introduction of MNP a waste of money.

TOI

Rupee opens 7 paise down against dollar

MUMBAI: The Indian rupee fell by 7 paise to over two-month low of Rs 45.64 against the US dollar in early trade at the Interbank Foreign Exchange on Wednesday, tracking losses in other Asian currencies.

Forex dealers said besides dollar's gains against other Asian currencies, continued demand for the American currency from importers also kept pressure on the Indian rupee, but a moderate recovery in stock markets in the opening trade capped its losses.

The rupee had ended at eight-week low of Rs 45.57/58 against the US dollar in the previous session amid a tumbling of stock markets.

Meanwhile, the Bombay Stock Exchange benchmark Sensex climbed 68.29 points up to 19,760.13 in the opening trade on Wednesday.

Read more: Rupee opens 7 paise down against dollar - The Times of India http://timesofindia.indiatimes.com/business/india-business/Rupee-opens-7-paise-down-against-dollar/articleshow/6979931.cms#ixzz16CnGo6kY

Sensex closes 279 points lower

MUMBAI: Late selling pressure on Wednesday resulted in a benchmark index of Indian equities falling sharply in the last half hour of trade, and closing 279 points lower.

The 30-share sensitive index ( Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,735.28 points, closed at 19,412.78 points (provisional), down 279.06 points or 1.42 percent from its previous close at 19,691.84 points.

It touched an intra-day low of 19,375.92 points.

At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended at 5,851.1 points, down 1.41 percent.

Broader markets indices also ended up in losses, with the BSE midcap index ending 1.22 percent down and the BSE smallcap index moving down 0.79 percent.


Read more: Sensex closes 279 points lower - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-closes-279-points-lower/articleshow/6979843.cms#ixzz16Cn5nWfj

Andhra Pradesh CM K Rosaiah resigns

NEW DELHI: Andhra Pradesh chief minister K Rosaiah announced on Wednesday that he would be quitting on grounds of health. He told reporters that he would submit his resignation to Governor ESL Narasimhan.

"I have done my best as the CM of the state. No one asked for my resignation, it's my own call," Rosaiah said while announcing his resignation on TV.

I urge my successor to keep Andhra Pradesh Congress together, Rosaiah further added.

Senior Congress leaders Pranab Mukherjee, Ahmed Patel and Moily are going to Hyderabad to deal with the situation.

Read more: Andhra Pradesh CM K Rosaiah resigns - The Times of India http://timesofindia.indiatimes.com/india/Andhra-Pradesh-CM-K-Rosaiah-resigns/articleshow/6980998.cms#ixzz16CmMGPcd

BJP-JD (U) close to three fourth majority in Bihar

PATNA: The Nitish Kumar-led JD(U)-BJP alliance on Wednesday headed for a three-fourth majority in Bihar, bagging 175 of the 243 Assembly seats and leading in 30 others. (Nitish, the Chanakya who wins Bihar hands down)

Smashing opposition to smithereens, the NDA partners improved their performance considerably compared to the last elections in 2005, when they together won 143 seats. (NDA lost only 1 of 11 seats in Muzaffarpur)

The RJD-LJP alliance steered by Lalu Prasad and Ram Vilas Paswan ate humble pie and secured just 18 seats and was leading in ten other places. They had 64 seats last time.

To add to RJD's humiliation, former chief minister and Prasad's wife Rabri Devi lost at Sonepur in Saran district to nearest BJP rival and was trailing in Raghopur.

The Congress suffered a major electoral setback as it won only four seats and was ahead in three compared to the nine seats it held in 2005. (Bihar elections a victory of merit over dynastic politics: BJP )

The CPI won one seat. Reacting to the people's verdict, Kumar said, "We have no magic wand, but people's trust. I will need to work harder than I did in the last five years and I will not hesitate to do it.

"The outcome of the elections also proves beyond doubt that it was a victory for development and for the people of the state."

The poll verdict, he said, would disappoint those doing politics on the basis of caste and the outcome would mark a "new story" in Bihar and have effect outside the state.

"The trends are positive and reflects that those making false claims or promises will face the music," he said. (Congress will have to rebuild itself in Bihar: Sonia)

Without naming RJD chief Lalu Prasad who had criticised the exit polls predicting victory for the NDA, Kumar said, "Media should not be criticised for its projection that NDA will pull off a landslide victory in Bihar.

"People should refrain from unnecessary criticism of the media .... if you live up to the people's aspirations and expectations you will definitely be rewarded," Kumar said.

"Now I feel that the people have thrust on my shoulder more responsibilities and I have to continue to make efforts with full dedication."

TOI

Battle for Bihar: JD(U)-BJP combine takes lead in early trends

PATNA: Bihar chief minister Nitish Kumar's ruling alliance seemed headed for victory in assembly elections, with its candidates far ahead in 65 of the 89 seats where early trends were available.

Exit polls have predicted a clear win for Nitish Kumar's Janata Dal-United (JD-U) and its ally the Bharatiya Janata Party (BJP), which took office in 2005.

The main opposition combine of Lalu Prasad's Rashtriya Janata Dal (RJD) and Ram Vilas Paswan's Lok Janshakti Party (LJP) were a poor second across the state.

Election officials said the RJD and LJP appeared to be performing poorly even in some of their known strongholds.

The BJP said in New Delhi that the ruling alliance was poised for an emphatic win.

"The JD-U and BJP are headed for a historic victory," BJP spokesman Prakash Javadekar said in New Delhi. "People are voting for an alliance that brought development as well as law and order to Bihar."

He said the people had clearly voted against the RJD's "15 years of jungle raj" - referring to the long rule of Lalu Prasad and his wife Rabri Devi.

Candidates of the Congress, a party which in recent decades has become an also-ran in Bihar, were ahead in three seats, the officials said.

Former chief minister Rabri Devi was trailing in one of the two constituencies from where she contested.

More than half of over 55 million electorate in Bihar voted from Oct 21 and Nov 20 to elect a new 243-member assembly.

Counting of votes for all 243 assembly constituencies in Bihar began on Wednesday morning amidst tight security.

Counting for the Banka parliamentary constituency, where a byelection was held, began simultaneously at 8am, additional chief electoral officer Kumar Anshumali said here.

Counting has been taken up in 42 centres, mostly in the district headquarters towns, where central para-military forces have been deployed, he said.

For each of the 243 constituencies, there are 14 tables each manned by two counting staff and a special counting micro observer.

In the outgoing House, the ruling parties JD(U) and BJP have 88 and 55 seats respectively. RJD and Ram Vilas Paswan's LJP have 54 and 10 respectively. Congress has nine seats.

122 is the magic mark required for any coalition or party to form a government.

The electoral fate of former chief minister and RJD candidate Rabri Devi, who contested from Raghopur and Sonepur, besides 25 ministers belonging to the BJP and JD(U) will be decided. The outgoing cabinet has a total of 34 ministers. One of them has died. The others are MLCs and did not contest.

Outgoing chief minister Nitish Kumar is a MLC and has not contested the elections. He has another year to go as MLC.

His deputy Sushil Modi has also not contested the elections. He is a MLC.

RJD chief Lalu Prasad and LJP chief Ramvilas Paswan have also not contested. They are Lok Sabha members from the Saran and Hajipur seats respectively.

The Congress is the only party which fielded candidates in all 243 constituencies followed by the BSP which contested 239 seats. The JD(U) contested 141 seats and its ally BJP 102.

RJD contested 168 seats and ally LJP in 75. The six phase polls ended on Saturday with an average voter turnout of 52 per cent.

Read more: Battle for Bihar: JD(U)-BJP combine takes lead in early trends - The Times of India http://timesofindia.indiatimes.com/india/Battle-for-Bihar-JDU-BJP-combine-takes-lead-in-early-trends/articleshow/6979480.cms#ixzz16AbPBtTf

Sensex opens 205 points down on profit-booking

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Tuesday fell by over 205 points in the opening trade, largely on profit-booking.

The 30-share barometer, which had gained 372.15 points in the previous trading, was quoting at 19,785.34 points in the opening trade, down by 205.20 points from Monday's close.

Similarly, the wide-based National stock Exchange index Nifty also fell by 70.10 points to 5,939.90.

Brokers said fresh bout of selling by funds and retailers on prevailing levels amid weak trend in global markets weighed down the trading sentiments.

Besides, political uncertainty following 2G spectrum allotment, also triggered selling.

All the sectoral indices, led by realty, banking and metal stocks were trading in negative zone with losses up to 2.03 per cent.

In other Asian markets, the Hong Kong's Hang Seng index was quoting down by 1.23 per cent in the morning trade. Japanese markets are closed today. In the US, Dow Jones Industrial Average shed 0.22 per cent in Monday's trade.

Read more: Sensex opens 205 points down on profit-booking - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-opens-205-points-down-on-profit-booking-/articleshow/6973845.cms#ixzz164pOpruw

Sensex rise most in 2 weeks on investor buying, global cues

MUMBAI: The Bombay Stock Exchange benchmark Sensex today surged by over 372 points, steepest advance in more than two weeks, on brisk buying as investors judged the recent fall an overdone amid a firming Asian trend.

The Sensex, which had plunged to two-month low in the previous week, bounced back and gained by 372.15 to 19,957.59, its biggest surge since November 4, backed by Reliance Industries, Infosys Technologies and leading financial stocks.

The broad-based National Stock Exchange index Nifty also rose by 119.70 points to 6,010 as investors viewed the recent correction in the markets as a good entry point for picking fundamentally strong shares.

European equities rallied in opening deals as investors welcomed the news that crisis-hit Ireland formally applied for a bailout from the debt crisis.

The heaviest-weighed on the Sensex, Reliance Industries advanced 1.53 per cent to Rs 1,012.10, its biggest gain since November 4, on reports that the company restarted one of its crude distillation units and a coker at its Jamnagar refinery.

The second-heaviest Infosys spurted by 2.55% to Rs 3,042.10. The two stocks carry nearly 23% weightage on the benchmark.

In the 30-BSE index components, 27 stocks closed higher while three ended in negative zone.

The banking sector index gained the most by 2.64% to 14,066.42 as stocks of private lenders - HDFC Bank, ICICI Bank and HDFC Ltd recorded handsome gains.

The consumer durable index was second best performer by adding 2.59 per cent to 6,623.42 followed by information technology sector index by 2.50% to 6,036.95. Tech index rose by 2.22% to 3,697.87.

The IT and tech sector shares were in demand following a weak rupee against the dollar on expectations of a higher revenue. The Indian software export get over 50 per cent revenue from the U.S. and European markets.

The realty sector index rose by 2.01% to 3,237.24 as Lanco Infratech gained 2.11% to Rs 65.40, its highest close since October 27 on reports the government selected seven companies including Lanco, to build 470 megawatt of solar power capacity.

As the buying activity spilled over a wide-front, smallcap sector index rose by 1.46% to 10,387.24 and midcap index by 1.28% to 8,180.48.

Read more: Sensex rise most in 2 weeks on investor buying, global cues - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-rise-most-in-2-weeks-on-investor-buying-global-cues-/articleshow/6969952.cms#ixzz160fzSXsS

Rupee gains 6 paise against dollar in early trade

MUMBAI: The Indian Rupee regained strength to trade 6 paise higher at Rs 45.23 against the US dollar at the Interbank Foreign Exchange market in the morning trade today, tracking gains in other Asian currencies.

Dealer said firm opening of the stock exchanges and dollar's losses against other Asian currencies kept the rupee sentiment firm.

The rupee had lost 7 paise to close at Rs 45.29/30 against the US currency in the previous session on strong dollar demand from importers amid sharp fall in stock markets.

Meanwhile, the Bombay Stock Exchange index Sensex recovered by 170.53 points or 0.87 per cent to 19,755.97 level in the opening trade today.

Read more: Rupee gains 6 paise against dollar in early trade - The Times of India http://timesofindia.indiatimes.com/business/india-business/Rupee-gains-6-paise-against-dollar-in-early-trade/articleshow/6967819.cms#ixzz15z1HVpbg

India in top 4 among B-school destinations

MUMBAI: That the US and the UK are the most popular destinations for management studies is not big news. But the findings of a survey conducted by the Graduate Management Admission Council (GMAC), which conducts GMAT, a B-school entrance test used globally, have thrown up some surprises. Number 4 on the list of the Top 10 preferred destinations for B-school aspirants is India, with Canada at No. 3. Israel and Spain are the other surprise entrants.

According to experts, India's foray into the elite league has a lot to do with the emergence of institutions such as the Indian School of Business, Hyderabad, which was ranked No. 12 globally in the Financial Times ( London) Global MBA rankings earlier this year. The IIMs, which use GMAT as an entrance test for their executive MBA programmes, are also responsible for India's popularity.

''B-school aspirants are looking at a return on their investment, and with the investment being lower for management education in India when compared to the US and the UK, the returns are higher,'' said an expert. Many feel that India can soon emerge as a hub for management studies amongst Asian countries such as Singapore and the Philippines as the country will be a far less expensive destination than western giants.

Although making it to the US has, for long, been the great Indian dream, it is not the only North American country that's attracting desi students. Many are now making a beeline for Canada, which not only has a robust economy and liberal visa policies but also promises good job prospects. ''In testing year 2010, India was the top foreign country that sent score reports to Canadian graduate management programmes,'' reveals GMAC's survey.

According to the report, 78% of full-time MBA programmes in Canada received the largest number of foreign applications from Indians. Not surprisingly, all Canadian management programmes that recruited foreigners targeted India, as did 44% of European programmes that undertook special recruitment efforts to attract overseas candidates

Read more: India in top 4 among B-school destinations - The Times of India http://timesofindia.indiatimes.com/india/India-in-top-4-among-B-school-destinations/articleshow/6966636.cms#ixzz15z06Ziwd

Final phase of Bihar assembly polls begins

PATNA: The sixth and final phase of the Bihar assembly elections began Saturday in 26 constituencies, including 18 Maoist-affected areas, spread across five districts.

A total of 426 candidates are in fray for the last phase which is being held in the drought-hit districts of Gaya, Aurangabad, Rohtas, Kaimur and Buxar. About six million people are eligible to vote in this round.

The Election Commission has cut down polling hours in the Maoist-hit areas till 3 pm.

"The balloting will take place in 18 constituencies in the Maoist-affected areas only till 3 pm; in the remaining constituencies it will end at 5 pm," an official said.

The earlier five phases to pick a new 243-member legislative assembly have passed off peacefully except for stray incidents of violence.

The outlawed Communist Party of India-Maoist earlier this month vowed to intensify attacks to disrupt the election process and enforce its boycott of the polls. As many as 33 of Bihar's 38 districts are Maoist-affected.

Votes will be counted on November 24.

Read more: Final phase of Bihar assembly polls begins - The Times of India http://timesofindia.indiatimes.com/india/Final-phase-of-Bihar-assembly-polls-begins/articleshow/6958416.cms#ixzz15nIyBEhS

Eggs are good for the heart

Eggs are not bad for heart health, say experts.

US egg expert Dr Don McNamara insists that their bad reputation is no longer warranted and even Heart Foundation has lifted its recommended intake to six eggs a week.

"Seniors have been afraid to eat eggs because for 40 years they have been worried about the dietary cholesterol,'''' the Herald Sun quoted nutritional biochemist McNamara as saying.

"But, over the years, the research has clearly shown that cholesterol in our food doesn't impact our risk for heart disease - (what causes) that is saturated fat and trans fat,''' he added.

Eggs are low in saturated fat and consist of some of the vital compounds like choline that are considered good for metabolism and for foetal brain development during pregnancy

It also contains lutein, which is known to lower the risk for cataracts and macular degeneration.

McNamara said those who eat eggs for breakfast feel fuller for longer and reduce the risk of overeating at lunch.

"Eggs have the highest quality protein you can buy in the supermarket for the lowest cost, and they contain every vitamin and mineral we need except for vitamin C,'' he said.

"So they easily fit into a healthy diet for people with normal cholesterol levels, people with high cholesterol levels, diabetics and people with metabolic syndrome,'' he added.

The Heart Foundation had conducted a survey earlier this year and reissued its guideline to recommend people eat up to six eggs a week.

"Cholesterol in food doesn't equal cholesterol in the blood,'''' said the foundation's healthy weight spokeswoman Monique Blunden.

"It's the saturated fat and trans fat we consume that is directly related to the rise in cholesterol in the blood,'' she added.

Read more: Eggs are good for the heart - The Times of India http://timesofindia.indiatimes.com/life-style/health-fitness/diet/Eggs-are-good-for-the-heart/articleshow/4833745.cms#ixzz15drmci4i

Fire breaks out at Mumbai's HDIL building, 10 people rescued Read more: Fire breaks out at Mumbai's HDIL building, 10 people rescued - The Times of I

MUMBAI: Ten people were rescued from a 10-storey commercial building in suburban Bandra where a major fire broke out this afternoon.

A fireman sustained minor injuries in the rescue operation, Chief Fire Officer Uday Tatkare told reporters at the site. The fire raged on for over three hours before it could be brought under control.
Over 200 people work in the building, Tatkare said, adding he was not aware how many were inside the Housing Development and Infrastructure Limited (HDIL) building when the fire broke out. HDIL has interests in real estate and entertainment.

The ninth floor of the building bore the brunt of the blaze and the extent of the damage caused was being ascertained. The cause of the fire is not yet known, Tatkare said.

Huge plumes of thick black smoke were seen billowing from the top floors of the commercial complex after the fire broke out at around 1.30 PM.. The building is located on Anant Kanekar Marg.
As many as 16 fire engines and six water tankers were pressed into service as firemen battled flames and smoke for over three hours to bring it under control.

He said some equipment including pump were not working properly causing some delay in dousing the flames.

Large crowds that had gathered at the spot close to Bandra railway station heaved a sigh of relief after authorities announced that those inside the building had either escaped to safety or had been evacuated.

Read more: Fire breaks out at Mumbai's HDIL building, 10 people rescued - The Times of India http://timesofindia.indiatimes.com/city/mumbai/Fire-breaks-out-at-Mumbais-HDIL-building-10-people-rescued/articleshow/6947094.cms#ixzz15dqt8rIl

Rupee down 14 paise against US dollar in early trade

MUMBAI: The Indian rupee fell by 14 paise to Rs 45.45 against the US dollar in early trade at the Interbank Foreign Exchange today on continued demand for the American currency from importers and some banks.

Forex dealers said increased demand for the American currency from importers, mainly oil refiners, and banks mainly kept pressure on the Indian rupee.

However, an early rally in the equity market capped the losses.

The rupee ended at a seven-week low of Rs 45.31/32 against the US dollar in the previous session on Tuesday, following a sharp fall in the stock market.

Meanwhile, the Bombay Stock Exchange benchmark Sensex rose by 191.30 points to 20,056.44 in opening trade on Thursday.

Read more: Rupee down 14 paise against US dollar in early trade - The Times of India http://timesofindia.indiatimes.com/business/india-business/Rupee-down-14-paise-against-US-dollar-in-early-trade/articleshow/6945707.cms#ixzz15dqazDGa

Global market recovery lifts Sensex, ends 65 points up

MUMBAI: In a highly choppy trade, the stock market today ended with a gain of 65 points in the benchmark index, Sensex, powered by recovery of its global peers and buying in the heavy-weights amid easing inflation.

Despite opening firm, the Bombay Stock Exchange's 30-share index, Sensex, witnessed an extremely volatile session and finally managed to settle with a gain of 65.50 points or 0.33 per cent at 19,930.64.

Similarly, the National Stock Exchange's wide-based Nifty too saw a similar trend and finished at 5,998.80, reflecting a gain of 10.10 per cent from previous close.

Marketmen said that hopes of easing Ireland's debt crisis after it accepted the bailout offered by EU and IMF, led to the rebound in the European and Asian markets, which fuelled the rally on the Dalal Street.

Back home, fall in food inflation to 10.3 per cent for the week ended November 6 helped in the upswing.

Metals saw a handsome recovery and emerged as the best performer among the 13 sectoral indices with the aluminium giant Hindalco and the copper producer Sterlite Industries gaining 4.86 per cent and 2.69 per cent respectively.

"The markets around the globe have recovered from the lower levels with the recovery seen in the commodity space as well, due to which buying interest was seen primarily in the metals and oil marketing companies," said Geojit BNP Paribas in a note.

IT bellwether Infosys Technologies, which enjoys the maximum weightage on Sensex after RIL, contributed the most to the broader market recovery with a gain of 1.07 per cent at Rs 3,004.15.

Besides, the auto giant Hero Honda soared by 5.46 per cent, coming out as a winner, on the news of a foreign brokerage upgrading the stock from 'neutral' to 'outperform'.

"The speculations about the private equity players meeting the company's promoters to clinch a deal, also fuelled the rally in the stock," CNI Research CMD Kishore P Ostwal said.

The country's largest car maker Maruti Suzuki and the auto major Tata Motors too rose by 2.09 per cent and 2.02 per cent respectively. Mahindra & Mahindra also witnessed a gain of 0.31 per cent.

Of the 30 Sensex components, 19 ended the day on a smart note, while the rest finished in the red with Reliance Communications shedding the most on 2G spectrum probe concerns.

However, another telecom giant Bharti Airtel bucked the trend and surged 3.77 per cent on value buying in the stock.

Besides RCom, another major laggard was the private sector lender ICICI Bank with a loss of 3.14 per cent, which suffered on the media reports that the bank is under RBI scanner for its deal with Indiabulls Real Estate (IBREL).


Read more: Global market recovery lifts Sensex, ends 65 points up - The Times of India http://timesofindia.indiatimes.com/business/india-business/Global-market-recovery-lifts-Sensex-ends-65-points-up/articleshow/6947826.cms#ixzz15dpkhof0

Food inflation down by 2 per cent to 10.3 per cent

STAFF WRITER 12:20 HRS IST

New Delhi, Nov 18 (PTI) Food inflation fell sharply by 2 percentage points to 10.3 per cent for the week ended November 6 from 12.3 per cent in the previous week, raising hopes that overall inflation may decline to around 6 per cent by the end of the year, as predicted by the government.

Inflation stood at 13.99 per cent in the corresponding period last year. This is the first time in a long time that food inflation for a particular period was lower than the corresponding period of the previous fiscal.

The decline may prompt RBI to halt its monetary tightening drive to boost industrial growth, which had fallen to a 16-month low of 4.4 per cent in September.

The price of most food items declined during the week on improved availability after the end of the monsoon.

Sensex jumps by 191 pts to regain 20k level in opening trade

MUMBAI: The BSE benchmark Sensex bounced back by 191 points to regain the psychological 20,000 points level in opening trade on as metal, capital goods and banking stocks rallied amid firming Asian cues.

The 30-share index of the Bombay Stock Exchange, which had plummeted by 444.55 points in the previous session on Tuesday, rose by 191.30 points to 20,056.44 points in opening trade.

Similarly, the wide-based National Stock Exchange Nifty index moved up by 87.50 points to 6,076.20.

Brokers said fresh foreign capital inflows into equities and a firming trend in global markets helped shares of Indian blue-chip companies rebound.

Meanwhile, in Asia, Hong Kong's Hang Seng Index was up by 1.06 per cent and Japan's Nikkei Index by 0.61 per cent in early trade. In the US, the Dow Jones Industrial Index ended a shade lower on Wednesday.

Read more: Sensex jumps by 191 pts to regain 20k level in opening trade - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-jumps-by-191-pts-to-regain-20k-level-in-opening-trade/articleshow/6945587.cms#ixzz15bcV2X00

Axis Bank buys Enam for Rs 2,067cr

MUMBAI: Axis Bank chief Shikha Sharma on Wednesday played a masterstroke by clinching a Rs 2,067 crore all-stock deal to take over the highly lucrative investment banking and equity businesses of Enam Securities.

The deal, under which 5.7 shares of the bank will be exchanged for each share of Enam, valued the domestic financial services major at Rs 8,333 per share. Apart from being a precursor to many such deals aimed at creating a financial supermarket model, it also represents the highest such valuation (20 times earnings) for a standalone investment banking firm.

As part of the deal Vallabh Bhanshali, co-founder and chairman of Enam, and a master deal-maker, will join the Axis Bank board. In addition, some other Enam directors will also work with the bank and 400 of its staff will move to a new wholly-owned subsidiary of Axis Bank. The bank has signed a five-year no compete clause with Bhansali and will use the Enam brand name for two years. Bhanshali, however, retains the assets management and portfolio management businesses.

Its a win win for both. While Enams strong mergers & acquisitions team can bring in large deals on the table, Axis Bank, with a strong balance sheet size can back such deals to earn substantial fees. Besides, the bank will use Enams expertise in distributing public offers through its 1,100 branch network.

Read more: Axis Bank buys Enam for Rs 2,067cr - The Times of India http://timesofindia.indiatimes.com/business/india-business/Axis-Bank-buys-Enam-for-Rs-2067cr/articleshow/6944046.cms#ixzz15bcHuEML

Sensex falls below 20000, drop biggest in 6 mths

MUMBAI: The BSE benchmark Sensex fell below the psychological 20,000-mark today, down about 445 points — biggest decline in six months — on frenzied profit-booking and weak trend in Asian markets.

The NSE's broad-based Nifty also closed below the magic 6,000-mark.

The fall was fuelled by speculations that central banks worldwide might raise borrowing costs to cool down inflation, constricting the availability of cash for equity investment.

While the Bombay Stock Exchange benchmark index, Sensex, fell by 444.55 points to 19,865.14, National Stock Exchange index, Nifty, fell by 132.90 points to 5,988.70.

After a weak opening, Sensex fell to a month's low as selling pressure gathered momentum influenced by melting Asian stocks, led by China, Hong Kong and Japan.

The regional index for Asian markets fell for the third straight session today on speculation that governments will take further steps to cool down inflation, coupled with a decline in raw material prices.

China's stocks fell, driving the benchmark index to the lowest in a month, on speculation the government might intensify measures to curb accelerating inflation including higher interest rates and price controls.

The MSCI Asian Index fell to its lowest level since November 3 in Tokyo, as the Shanghai Composite Index dropped 3.98 per cent.

Of the 30-BSE index, barring Bharti Airtel, all the 29 stocks fell sharply, while all the sectoral indices closed with losses.

The realty sector index suffered the most by losing 3.55 per cent to 3,325.98 on fears of hike in interest rates, which might impact the new construction and home sale.

The metal sector index was second worst performer and shed 3.11 per cent to 16,577.31 after copper, aluminium, zinc and lead fell sharply in London, amid fears that any measure taken by China, the leading consumer of the base-metals, would reduce demand for the commodity.

The capital goods sector index fell by 2.78 per cent to 15,602.93, consumer durable index by 2.58 per cent to 6,715.22 and auto index by 2.22 per cent to 9,983.56.

As the selling pressure spread over a wide-front, smallcap index fell by 2.92 per cent to 10,566.95 and midcap index by 2.15 per cent to 8,266.42.

Investors refrained from creating fresh positions in view of the public holiday tomorrow.

Read more: Sensex falls below 20000, drop biggest in 6 mths - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-falls-below-20000-drop-biggest-in-6-mths/articleshow/6935848.cms#ixzz15RvRuH3A

Sensex down 64 points in opening trade on profit-booking

STAFF WRITER 9:32 HRS IST

Mumbai, Nov 16 (PTI) The Bombay Stock Exchange benchmark Sensex fell by almost 64 points in opening trade today amid profit-booking and a mixed trend in the Asian region.

The 30-share barometer, which had gained 152.80 points in yesterday's volatile session, fell by 63.92 points, or 0.34 per cent, to 20,245.77 points at the start of trade, with realty, capital goods, banking and technology sector stocks leading the fall.

Similarly, the wide-based National Stock Exchange Nifty index also declined by 21.35 points, or 0.35 per cent, to an early-low of 6,199.25.

Brokers said a fresh bout of selling by funds and retailers after the previous session's gains, coupled with a mixed trend on other Asian bourses, weighed heavily on the trading sentiment.

In other Asian markets, Hong Kong's Hang Seng index was trading lower by 0.39 per cent, while Japan's Nikkei was up by 0.

Toll in building collapse mounts to 66

STAFF WRITER 11:56 HRS IST

New Delhi, Nov 17 (PTI) The four-storey building collapse in East Delhi has claimed 66 lives and left 130 injured in one of the worst such disasters in the capital, as massive rescue operations were today on to pull out those trapped under the debris.

"66 people have died and about 130 are injured and admitted to various hospitals of the capital with a major chunk being at the LNJP," Delhi Health Minister Kiran Walia said.

41 bodies have been taken to Lok Nayak Jai Prakash Narayan Hospital (LNJP), 16 to Lal Bahadur Shastri Hospital, six to Hedgewar Hospital and three to Guru Teg Bahadur Hospital.

Over 60 families, mostly labourers from West Bengal, were living in the cramped quarters of the 15-year-old building, where an illegal fifth floor was under construction.

The entire structure came crashing down around 8.15 PM yesterday at Lalita Park in Laxmi Nagar.

Obama's India visit: The Pak, China factor

New Delhi: As he touches down in India for the longest overseas visit of his Presidency, on top of Barack Obama's agenda will be a frank exchange of views on Af-Pak and the rise of China.

American officials say Washington sees a bigger role for India in the region, especially with US unease over China's growing assertiveness.

But will a stronger India-US relationship impact an already strained India-China relationship?

"I don't see our relationship with the US affecting relations with China and vice versa. It is no longer a binary world or a zero sum game," said National Security Advisor Shiv Shankar Menon.

There is a great degree of concern in India over Obama's Pakistan policy as well. The Obama administration depends deeply on the Pakistani army in an increasingly difficult war on terror. Fresh military aid worth two billion dollars has just been announced. Even Indian officials concede there is only so far America will go on terror.

"He just finished a strategic dialogue with Pakistan. He has given them more aid and the message is clear: the Americans will maintain a balance between India and Pakistan," said Kanwal Sibal, a former foreign secretary.

It will certainly be a tightrope walk for Obama in India as he tackles New Delhi's unease over his Af-Pak policy and US concerns over China.



For NDTV