Sensex up 200 points on firm Asian cues

MUMBAI: The BSE benchmark Sensex opened over 200 points up on Wednesday on bargain buying triggered by firming trend on other Asian bourses after yesterday's losses.

The 30-share index of the Bombay Stock Exchange, which lost over 271.84 points in the previous session, rebound by 200.42 points or 1.10 per cent to 18,368.06 level, with oil and gas, metals, realty and banking stocks, leading the recovery.

Similarly, the wide-based National Stock Exchange Nifty index also moved up by 57.65 points or 1.05 per cent to 5,507.30 points.

Brokers attributed the rise to fresh buying by funds and retail investors, driven by recovery on other Asian bourses after yesterday's meltdown in the wake of last week's devastating earthquake in Japan.

Metal sector stocks were back in demand, supported by recovery in base metals at the London Metal Exchange, they said.

Meanwhile, Japan's Nikkei index was trading 4.43 per cent higher but Hong Kong's Hang Seng Index was down by 0.27 per cent in early trade today.

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Rupee gains 5 paise against US dollar in early trade

MUMBAI: The Indian Rupee strengthened by 5 paise to Rs 45.20 per dollar at the Interbank Foreign Exchange on Wednesday, supported by a higher opening in the stock market and dollar's weakness against other Asian currencies.

The rupee had depreciated by 19 paise to close at Rs 45.25/26 against the US currency in yesterday's trade on renewed dollar demand from banks and importers despite a weak dollar overseas.

Forex dealers said dollar's weakness against other Asian currencies and a higher opening in the stock market helped the rupee gain some strength.

Meanwhile, the Bombay Stock Exchange Sensex was up by 200.42 points or 1.10 per cent at 18,368.06 level in opening trade today.

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HDFC sole Indian firm among world's most ethical companies

WASHINGTON: Housing Development Finance Corporation ( HDFC) is the sole Indian company figuring in a New York City think tank's fifth annual list of the World's Most Ethical Companies.

The Ethisphere Institute's list, which includes 110 organizations, the largest since the award's inception in 2007, does not have a ranking.

Nearly 3,000 companies in more than 100 countries and 36 industries were nominated-or nominated themselves-to be considered this year.

The 110 companies that made the final cut this year include first-time recipients Adidas, eBay, Microsoft, Colgate-Palmolive and 30 other newcomers.

Thirty-one companies from last year disappeared, generally because of litigation or ethics violations, as well as increased competition from within their industries.

Twenty-six companies have been recognised as a WME company for all five years, and 50 more have made the list at least twice.

This year's list also includes more global companies, with 42 winners from outside of the US, including six from Japan.

Ethisphere's proprietary rating system, which it calls the Ethics Quotient, is based on a series of multiple-choice questions in a survey that is designed to capture a company's performance in an objective and standardised way.

"Based on the information in that survey, Ethisphere verifies responses before a final score is provided," says Alex Brigham, executive director of the Ethisphere Institute.

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2G scam: Raja aide Sadiq Batcha found hanging in Chennai residence

CHENNAI: Former telecom minister A Raja's aide and realtor Sadiq Batcha was found dead, hanging, at his residence in Chennai on Wednesday. CBI had questioned Batcha in connection with the 2G spectrum scam.

Police sources said Batcha might have committed suicide. Apollo Hospitals, where he was rushed to, confirmed that he was brought dead.

Sadiq Batcha was managing director of real estate firm Green House Promoters. Raja's relatives have stakes in Green House promoters.

http://timesofindia.indiatimes.com/india/2G-scam-Raja-aide-Sadiq-Batcha-found-hanging-in-Chennai-residence/articleshow/7717522.cms