HYDERABAD
ITC Kakatiya
6-3-1187, Begumpet
itc.kakatiya@itcwelcomgroup.in
Baseraa Inn
5-9-30/16 to 20, Basheerbagh
info@ohris.com
Taj Banjara
Road No. 1, Banjara Hills
banjara.hyderabad@tajhotels.com
Taj Deccan
Road No. 1, Banjara Hills
deccan.hyderabad@tajhotels.com
Taj Krishna
Road No.1, Banjara Hills
krishna.hyderabad@tajhotels.com
Soruce; http://www.hotelassociationofindia.com/membership/h.htm
Monday, February 16, 2009
Market extends loss on concern of interim budget outlay: Sensex below 9,400 mark
Date : Feb-16-2009 13:31
Market extended loss as investors are not sure whether the interim budget would live up to the expectation for a stimulus plan. The nervousness was seen into couple of heavy weight stocks on the back of concern of weakening economy. Further, most Asia-pacific markets were trading lower, after data revealed Japan’s economy shrank as recessions in the US and Europe triggered a record dip in exports.
On the sectoral front, traders off-loaded position across the sectors. Banking stocks fell on weak sentiment for financial sector stocks globally. Realty stocks declined on fear that interim budget may not include sops to the housing sectors. Textile stocks advanced on hopes the government may unveil some sops in the interim budget to revive the troublesome sector. Tyre stocks fell on reports the government has started issuing licenses to allow import of truck and bus radial tyres.
The market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,261 stocks traded so far, 771 shares advanced while 1,407 shares declined. Nearly 83 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 299.63 points at 9,335.11 and NSE Nifty is down by 91.50 points at 2,856.85.
The BSE Mid Cap is trading lower by 65.44 points at 2,947.51 and Small cap is trading down by 49.04 points at 3,346.53.
Losers from the BSE Sensex pack are Jaiprakash Associates plunged by 7.15% to Rs. 70.10 along with Reliance Infra down by 5.82% to Rs. 536.15, State Bank of India by 5.07% to Rs. 1,133.50, R. Com by 5.04% to Rs. 172.50, Larsen & Toubro by 5.01% to Rs. 666.00, Sterlite Ind 4.65% to Rs. 262.70, Reliance Industries fell 4.53% to Rs. 1,328.00, ICICI Bank by 4.45% to Rs. 415.00, Tata Steel by 4.35% to Rs. 185.70 and BHEL by 4.30% to Rs. 1,403.75 among others.
The BSE Realty index is lower by 71.64 points or 4.50% at 1,520.72. Stocks trading in red are Indiabulls Realty by 7.75% to Rs. 100.65, Unitech by 5.49% to Rs. 30.10, Housing Dev by 4.39% to Rs. 83.80, Ansal Infra by 4.07% to Rs. 28.25, DLF by 3.24% to Rs. 155.40 and Orbitco by 1.64% to Rs. 54.10 among others.
Reliance Communication fell 5.04% to Rs. 172.50 as it reportedly entered into a Rs. 50 crore deal with US-based Ditech Networks to deploy the latter`s voice enhancement solution on its recently unveiled GSM network.
Reliance Industries fell 4.53% to Rs. 1,328.00 on profit booking.
NTPC fell 1.80% to Rs. 179.60 as it entered in to an MOU with Nuclear Power Corporation of India (NPCIL) and formed a joint venture company for setting up Nuclear Power Projects.
Cairn India fell 1.83% to Rs. 161.00, despite crude oil prices spurted 10% on the New York Mercantile Exchange on Friday, 13 February 2009.
Satyam Computer Service spurted 3.89% to Rs. 48.10 after the stock market regulator relaxed takeover rules in certain conditions, which should make it easier for fraud-hit Satyam Computer to find a buyer.
Bartronics India jumped 8.40% to Rs. 83.25, after the company said it secured a project from the Municipal Corporation of Delhi for setting up 2000 kiosks.
Jain Irrigation Systems surged 0.32% to Rs. 377.00, on signing a pact with National Bank for Agriculture and Rural Development for village development programme in Maharashtra.
Titagarh Wagons tumbled 8.93% to Rs. 209.70, after the stock rose almost 40% in a run up to interim railway budget that held on Friday, 13 February 2009.
Market extended loss as investors are not sure whether the interim budget would live up to the expectation for a stimulus plan. The nervousness was seen into couple of heavy weight stocks on the back of concern of weakening economy. Further, most Asia-pacific markets were trading lower, after data revealed Japan’s economy shrank as recessions in the US and Europe triggered a record dip in exports.
On the sectoral front, traders off-loaded position across the sectors. Banking stocks fell on weak sentiment for financial sector stocks globally. Realty stocks declined on fear that interim budget may not include sops to the housing sectors. Textile stocks advanced on hopes the government may unveil some sops in the interim budget to revive the troublesome sector. Tyre stocks fell on reports the government has started issuing licenses to allow import of truck and bus radial tyres.
The market breadth, indicating the overall strength of the market, was weak. On BSE, out of 2,261 stocks traded so far, 771 shares advanced while 1,407 shares declined. Nearly 83 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 299.63 points at 9,335.11 and NSE Nifty is down by 91.50 points at 2,856.85.
The BSE Mid Cap is trading lower by 65.44 points at 2,947.51 and Small cap is trading down by 49.04 points at 3,346.53.
Losers from the BSE Sensex pack are Jaiprakash Associates plunged by 7.15% to Rs. 70.10 along with Reliance Infra down by 5.82% to Rs. 536.15, State Bank of India by 5.07% to Rs. 1,133.50, R. Com by 5.04% to Rs. 172.50, Larsen & Toubro by 5.01% to Rs. 666.00, Sterlite Ind 4.65% to Rs. 262.70, Reliance Industries fell 4.53% to Rs. 1,328.00, ICICI Bank by 4.45% to Rs. 415.00, Tata Steel by 4.35% to Rs. 185.70 and BHEL by 4.30% to Rs. 1,403.75 among others.
The BSE Realty index is lower by 71.64 points or 4.50% at 1,520.72. Stocks trading in red are Indiabulls Realty by 7.75% to Rs. 100.65, Unitech by 5.49% to Rs. 30.10, Housing Dev by 4.39% to Rs. 83.80, Ansal Infra by 4.07% to Rs. 28.25, DLF by 3.24% to Rs. 155.40 and Orbitco by 1.64% to Rs. 54.10 among others.
Reliance Communication fell 5.04% to Rs. 172.50 as it reportedly entered into a Rs. 50 crore deal with US-based Ditech Networks to deploy the latter`s voice enhancement solution on its recently unveiled GSM network.
Reliance Industries fell 4.53% to Rs. 1,328.00 on profit booking.
NTPC fell 1.80% to Rs. 179.60 as it entered in to an MOU with Nuclear Power Corporation of India (NPCIL) and formed a joint venture company for setting up Nuclear Power Projects.
Cairn India fell 1.83% to Rs. 161.00, despite crude oil prices spurted 10% on the New York Mercantile Exchange on Friday, 13 February 2009.
Satyam Computer Service spurted 3.89% to Rs. 48.10 after the stock market regulator relaxed takeover rules in certain conditions, which should make it easier for fraud-hit Satyam Computer to find a buyer.
Bartronics India jumped 8.40% to Rs. 83.25, after the company said it secured a project from the Municipal Corporation of Delhi for setting up 2000 kiosks.
Jain Irrigation Systems surged 0.32% to Rs. 377.00, on signing a pact with National Bank for Agriculture and Rural Development for village development programme in Maharashtra.
Titagarh Wagons tumbled 8.93% to Rs. 209.70, after the stock rose almost 40% in a run up to interim railway budget that held on Friday, 13 February 2009.
Govt may peg fiscal deficit at 5% to battle slowdown
Date : Feb-16-2009 11:05
The interim budget by the UPA government is likely to step up the expenditure on its flagship programmes along with rural development and housing that doubling the fiscal deficit to 5% in 2009-10. The interim budget is to be presented by External Affairs Minister Pranab Mukherjee who is currently holding the charge of Finance Ministry. The government in the last Budget has fixed the fiscal deficit for the current fiscal at 2.5 per cent of GDP, which is likely to be raised to 5 per cent for the next fiscal, primarily on the back of higher allocations towards the government''s flagship schemes like the Bharat Nirman and the National Rural Employment Guarantee Scheme.
The government to provide focus on the urban infrastructure may expand the ambit of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) to include more districts. Besides this, the other focus of the Budget is likely to be on rural development which may witness some more allocations. The interim Budget may also provide a token allocation for kick starting the Unique Identification (UID) scheme to provide a specific number to every citizen.
In line with this, the infrastructure finance company IIFCL may be authorized to raise money through tax-free bonds. With the last two-stimulus package announced by the government due to slowdown, the fiscal deficit has already crossed four per cent till December. The total gross budgetary support (GBS), which represents the expenditure towards Plan schemes and transfer of resources to states, may be increased.
The interim budget by the UPA government is likely to step up the expenditure on its flagship programmes along with rural development and housing that doubling the fiscal deficit to 5% in 2009-10. The interim budget is to be presented by External Affairs Minister Pranab Mukherjee who is currently holding the charge of Finance Ministry. The government in the last Budget has fixed the fiscal deficit for the current fiscal at 2.5 per cent of GDP, which is likely to be raised to 5 per cent for the next fiscal, primarily on the back of higher allocations towards the government''s flagship schemes like the Bharat Nirman and the National Rural Employment Guarantee Scheme.
The government to provide focus on the urban infrastructure may expand the ambit of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) to include more districts. Besides this, the other focus of the Budget is likely to be on rural development which may witness some more allocations. The interim Budget may also provide a token allocation for kick starting the Unique Identification (UID) scheme to provide a specific number to every citizen.
In line with this, the infrastructure finance company IIFCL may be authorized to raise money through tax-free bonds. With the last two-stimulus package announced by the government due to slowdown, the fiscal deficit has already crossed four per cent till December. The total gross budgetary support (GBS), which represents the expenditure towards Plan schemes and transfer of resources to states, may be increased.
UK bank spent 200m pounds on Sachin, other stars: Report
LONDON: The Royal Bank of Scotland blew up as much as 200 million pound on top sports stars, including Indian cricket maestro Sachin Tendulkar, under the bank's former chief executive Fred Goodwin, media report said.
"Royal Bank of Scotland (RBS), bailed out with billions of pounds of taxpayers money, hired top sports stars on "reckless" contracts to entertain clients as part of a 200 million pound sponsorship binge," the Sunday Times said.
Sir Fred Goodwin, the bank's former chief executive, agreed contracts of up to five years just weeks before he was ousted last October, the Sunday Times said adding that "Sachin Tendulkar, the Indian cricket hero, signed a five-year deal just weeks before Goodwin was ousted."
RBS, which announced a 28 billion pound loss last month, the biggest in British commercial history, said it was obliged to honour deals agreed under Goodwin.
This news follows a row over RBS's plan to defy public opinion by paying almost one billion pound in bonuses.
Reacting to this John Mann MP, a member of the Treasury select committee, said: "They (RBS) have been reckless yet again. This doesn't seem to be a bank that could do anything in moderation. It now needs to realise the golden days are over."
Soruce: http://timesofindia.indiatimes.com/Business/RBS-spent-200m-on-Sachin-stars/articleshow/4132434.cms
"Royal Bank of Scotland (RBS), bailed out with billions of pounds of taxpayers money, hired top sports stars on "reckless" contracts to entertain clients as part of a 200 million pound sponsorship binge," the Sunday Times said.
Sir Fred Goodwin, the bank's former chief executive, agreed contracts of up to five years just weeks before he was ousted last October, the Sunday Times said adding that "Sachin Tendulkar, the Indian cricket hero, signed a five-year deal just weeks before Goodwin was ousted."
RBS, which announced a 28 billion pound loss last month, the biggest in British commercial history, said it was obliged to honour deals agreed under Goodwin.
This news follows a row over RBS's plan to defy public opinion by paying almost one billion pound in bonuses.
Reacting to this John Mann MP, a member of the Treasury select committee, said: "They (RBS) have been reckless yet again. This doesn't seem to be a bank that could do anything in moderation. It now needs to realise the golden days are over."
Soruce: http://timesofindia.indiatimes.com/Business/RBS-spent-200m-on-Sachin-stars/articleshow/4132434.cms
12 hurt in Orissa landmine blast
BHUBANESWAR: At least 12 security personnel were hurt Monday when their vehicle was blown up by a landmine blast triggered by Maoist rebels in Orissa's Gajapati district, police said.
The landmine went off when the vehicle carrying the personnel of the Special Operations Group (SOG) was passing next to a hill near Andheri village in Gajapati, some 470 km from here.
"Maoists have triggered a landmine blast, but all our people are out of danger," District Superintendent of Police Shefeen Ahmed K said over telephone.
The injured have been admitted to hospital and a search is underway for the rebels, he added.
Soruce: http://timesofindia.indiatimes.com/India/12-hurt-in-Orissa-landmine-blast/articleshow/4135522.cms
The landmine went off when the vehicle carrying the personnel of the Special Operations Group (SOG) was passing next to a hill near Andheri village in Gajapati, some 470 km from here.
"Maoists have triggered a landmine blast, but all our people are out of danger," District Superintendent of Police Shefeen Ahmed K said over telephone.
The injured have been admitted to hospital and a search is underway for the rebels, he added.
Soruce: http://timesofindia.indiatimes.com/India/12-hurt-in-Orissa-landmine-blast/articleshow/4135522.cms
Subscribe to:
Posts (Atom)
