Business Standard - 28th September

SUBMITTED BY
AKANKSHA BAHUGUNA
ABHISHEK KHARE
AKSHAY SHARMA
SEC-G


SENSEX- 20117.38
NIFTY -6035.65


FRONT PAGE
VODAFONE FACES Rs 12K-CRORE TAXBILL,AS SC REJECTS PLEA
Income tax department to issue fresh notice in four weeks.confirmed centralboard of Direct Taaxes Chairman SSN Moorthy .
the share price of vodafone plc,however fell on the london stock exchange by 1.90% at the time of going to press,and was trading as around1.59 pound.


CLEAN TECH TO GREENBACKS
Berkshire Hathaway CHARMAN warren Buffett arrives for a BYD event in Shenzhen,China,on Monday.Hathway has profited handsomely from a
10% stake it own in BYD,which is at the venguard of electric-car technology.

Wen to visit in december,as india hosts the world's who's who
Chinese Prime Minister Wen Jiabao's decision to visit comes at a touchy time in India-China relation,with Prime Minister Manmohan Singh expressing concern about China's new assertiveness with respect to India



COMPAINES
GOVT'S LATEST MINE PROFIT SHARING PLAN FACES HEAT
Firms share revenue sharing with locals is noble but not practical
India's top three mining companies-coal India,NMDC and cesa goa will add rupees 36000crore to district development fund if the 36% profit sharing proprosal with local resident goes though.That's almost half the disinvestment proceedes from the REC,NHPC and Oil India follow on offers in 2009-10.


Delisting concerns spook Satyam stock
Many investers have sought details on circumstances under which the delisting decision was taken and the companies planned road map for merger with Tech Mahindra.
The Mahindra Satyam stock slumped 4% to rs 96.45 on the Bombay stock exchange today amid reports that important stack holders have expressed concern over the company's decision to Delhits its American depositary receipts (ADRs) from th New York stock exchange.Chairman Vineet Nayyar told tv chanells today that Mahendra Satyam ADRs would continue to trade on the over the counter exchange of India adding that the decision to Delhits was voluntary,so that trade would continue.


TV channels bet on mega stars to garner Rs270 crore.
The KBC will startsfrom 11oct at 9pm from Monday to Tuesday on Sony tv.Make the ad-s;ots Rs3.5 lakh each 10 second and some rate ad-slots for Sony and colors.


SPICEJET TO DOUBLE FLEET BY END-2013
Says international foray's contrbution will increase top line 12%
Gurgaon based low cost career spice jet said today it would double its current 22 plane fleet by the end of 2013.It also said that projected contribution from its international opreations which the airline would next month,was likely to increase its top line by 10 to 12%.



Bharti Retail to enter western India soon
Property consultants say Bharti is also planing to open stores in the south and has signed half a dozen stores in the region.It has signed a 60,000 sq ft store in the neptune magnet mall of the city's bhandhup area and this is expected to open in the first quarter of 2011,after Mumbai the retailers plans to open 20 more stores in cities such as Mumbai,Pune and Nanded.



POLITICS AND PUBLIC AFFAIRS

Govt presses India increased on job quota for sc/sts

The Indian Govt want to job quota for SC/STs in the private sector .they want to quarterly report to be submitted to the departmentor industrial policy and promotion of industry ministry .

The UPA Govt wants to make a rule at reservation to sc/sts for the job in private sector is compulsory.

IIM -A to share placement experience.

The Indian institute of management ,ahemdabad,for the first time,will invite top B-schools in the country to be the part of its new placement process and under stand the same.

IIM-A decided to adopt the cohort based placement process to give students more time to learn about the nature of jobs they are being offered.


SC TO HEAR PLEA ON AYODHYA TODAY

runing out reconcilation,Sunni Central Waqf Board and Akhil Bharat Hindu Mahasabha tittle suit verdict by the Allahabad High Court should not be delayed further as the Supreme court perpared to hear tomorow the plea to defer the judgement.


ECONOMY
MERCHANDISE EXPORTS HIT PLATEAU
India's merchandise exports are increasegly becoming flat,with the monthly figurs hovering in the range of $16 to $18billion,without much increase in the terms of volume while on the one hand exporters blame the goverment's faulty policy measures for making exports uncompetative anlysts believe they are becoming range bound.

INTERNATIONAL

US MOVE ON LIQUIDATION POWER FOR GOVT DELAYED

US banking regulators on monday said we are delaying the proposal that would begin putting into the place how the govt would use its new authority to dismental large collapsing financial companies FDIC said it is slowing down the proposal one of the main element of the recently passed financial reform law to give other regulators and industry more time to review it.


US TREASURY PREPARING AIG EXIT, REPAYMENT PLAN.

The Govt is seeking to dispose of its AIG stake CEO Robert ban mosche prepared the divestitures of two non US divisons that he said would largely repay the firms federal reserve credit line.


UNILEVER AIMS FOR BIG HAIR DAY WITH ACQUISITION OF ALBERTO CULVER

Consumer goods unilever will buy US hair and skincare company ALBERTO CULVER for 3.7 billion latest move to rebalance its portfalio towards higher growth lines .unilever biggest acquisition in a decade will add brands such as v05 tresemme and nexxus to unilever existing the dove and sunsilk and make it the world leading company in hair conditioning and second largest shampoo.


ISSUES AND INSIGHTS

A LITTLE DECORUM,PLEASE

Jyoti basu would greamble but never deviate from the protocols expected of him as CM of west bengal for well over two decades basu had to deal with several PM belonging to diffrent parts basu was a towering national leader and senior to all the PM who ruled at the central while he ran the west bengal govt politically also basu belong to left while all the PM had to deal other end of spectrum and with many of them his relations where less than cordial.

MONEY AND MARKETS

FII INFLOWS CROSS 18$ BILLION IN 2010

FIIs have invested about $18 billion in Indian Stock in 2010 it is highest investment in dollar terms in a year. FII net purchases worth $17.89 billion till friday acc to data available on the securities and sebi prata on the BSE website show they net bought shares rs.1136.8 crore in Indian market today the highest FII in both dollar and rupees terms was last year when they had invested 17.6 billion $.

FINANCE

HDFC TO RAISE 34 CRORE RUPEES FROM INFRASTRUCTURER BONDS

IDFC plans to raise upto 34 hundred crore rupees through the 10 year retail bonds will be open at oct1 to 18 MD Mr. RAJEEV LAL said our aim is to grow compound annual growth rate 35-40 % over the next 4 years the balance sheet of IDFC 35 thousand crore rupees it is a first company to newly created of non-bank financial company .IDFC currently raised 750$ equity capital by the place of shares with oversees and Indian investors the MD says we have taken permission by the govt to raise upto 34 hundred crore till at the end of march.