Submitted By
Akash Bhatnagar
Akshay Zutshi
Aditya Khurana.
Leading News:
FII(Foreign institutional investors) buying in stocks hits lifetime high.
The main catalyst of the indian stock market has hit a new height on its bench marking equity index by trading 756 points away from its optimum.It was noticed on the index when it rised 72.20 points,and closed at 20117.38 on monday.
The net sales for this year by FII investments comes to a total amount of $17.96 billion.It was the highest in 17 years since the country allowed their entry.
Cheap money and lack of high growth options are the elements driving the total inflow into india.
Vodafone Tax Liability tops Rs. 12000 crores:CBDT
The income tax department formally inducted Rs. 12000 crore as the estimated tax inclusive of interest for late payment on vodafone international holdings,because as it failed to subtract tax on the money it paid to hutchison telecommunication international limited in 2007 to buy the majority in the indian telecommunication company hutchison essar limited.
The chairman of CBDT(Central board of direct taxes),Mr. S.S.N. Moorthy said that this is a case of which attracted worldwide attention.
Group of ministers raises Bhopal relief amount by Rs.72 crores.
It was noticed that the reconstituted group of ministers (GoM) dealing with bhopal gas tragedy met on monday an concluded to provide additional compensation of Rs. 72 crores to the casualties who havent recieved any type of such relief.This in return will be benifitial for about 4000 people.
The GoM also decided that the ones who havent received their compensation will be getting their dues by december and all the disputes related with the victims compensation would probably be dissolved by the March of next year.
Union home minister P. Chidambaram chaired the meeting attended by other ministers such as the enviorment minister – Jairam Ramesh,Law minister- Veerappa moily,Health minister – Ghulam nabi azad and officals from various ministries such as planning,urban,road,poverty alleviation ministers were present.
Finally,monsoon rains start withdrawing
It was came to be heard by national climate centre that the monsoon rains have finally started minimizing from the grain producing regions of northwest india.
The director of National climate centre Mr. D.Sivananda pai said that the monsoon have started withdrawing from some parts of northwest india,studies done at pune based centre which is a part of IMD(India meteorological department).
It was also revealed that the total rainfall in june-september has been found 3% escalated above normal.
Corporate News:
Himalaya plans to start selling hepatitis B drug by december.
Himalaya drug company which ended last year with the revenue of Rs. 1000 crores and is hoping to escalate this amont to Rs. 1300 crores.
All the legal formalities and approvals have been completed and the company is preparing for the launch of the new drug.
Apart from the various vaccines available for the hepatitis B in the market,the most unique feature of the drug offered by the himalaya co. is that it kills the virus rather than just stop it from multiplying .The deputy chairman of the co. Ravi prasad said that our herbal product would be safer and more affordable.
The Wall Street Journal:
China tightens checks on japanese goods
Chinese customs inspections in some cities have tightened checking of goods traded between china and japan within recent days.
It was reveled that the amount of goods being imported and exported from japan upto 100% of shipments,inspectors spot check only a handful sample of goods traded which is as low as 10%.
Since china is Japan's largest trading partner with around $138 billion imports and exports during the first half of 2010 and this sudden tightening on goods check have resulted in slow down and distorted activities from the companies in both countries.
Shippers said that inspections were largely frustated at this point,as goods were expected to clear only on a delayed timetable.
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