20th October - THE ECONOMIC TIMES

Nishant Kumar
Pankaj Yadav
Pawan Kumar Sharma
Section -E (Group - 4)

Headlines:-

UIDAI shortlist TCS, Wipro, HCL, IBM for It infrastructure contract.
Wipro’s Azim Premji to launch billion-$ endowment trust.
Traders in a mad scramble for coal India, SBI issues.
Real Possibility India will grow faster then China: JP Morgan
China surprise with first rate hike since 2007.
Chechen Parliament comes under attack.
IBM net income up 12% boosted by BRIC sales.
SBI grant highest ever loan 300cr for a dairy firm of Punjab.

Sensex sheds 186 points

News related to:-

InfoTech
UIDAI shortlist TCS, Wipro, HCL, IBM for It infrastructure contract.
The unique identity Authority of India has selected 9 ITS’s company- Accenture, IBM, TCS, Wipro, FCL, HP & others for selecting a managed service provide for the unique id project.
The selected provider has to make 600 million unique id no. by 2014.The firm will be responsible for managing the entire IT of the UIDAI project.


Wipro’s Azim Premji to launch billion-$ endowment trust.
Wipro founder Mr. Azim Premji will launch an endowment trust modeled on the line of world famous Harvard Management Company. The trust having billion-$ capital, will be operational in January next year and could be funded by small chunk of promoter equity in Wipro. The trust will largely focus on leading the education initiatives strongly favored by Mr Premji, according to people close to the development.


Investors

Traders in a mad scramble for coal India, SBI issues.
The mega initial public offering (IPO) is expected to raise 15,000 crore, Coal India 63.16-crore share offering was subscribed 1.71 times on the second day While SBI Rs-1,000-crore bond issue was subscribed 17 times.
In the grey market, Coal India share are trading at rs.280 apiece, or 14% higher then the top & of the Rs.225-245 ranges is set by the Govt.


International News

China surprises with rate hike since 2007
It raised its benchmark lending and deposit rate from 5.31% to 5.56%. Inflation may climb up to 3.63%.The GDP (Gross domestic product) grew 9.5% in the third quarter.

Chechen Parliament comes under attack.
In a suicide attack on chechenya’s parliament left 7 people dead & 17 wounded.
The attack could have been timed to coincide with a visit to Grozny on Tuesday of Russia’s interior Minister Rashid Nurgaliyev.


Market news

Sensex sheds 186 points
Sensex on Tuesday closed below the psychological 20,000 mark plunging 186 points in the last hour trade. The IPO offering of state-owned coal India ltd. And a slow down in the foreign fund inflows contributed to the sensex’s fall.
- HDFC Bank net rises 32.7 pc on credit demand.
- Bajaj Auto profit up 69 pc, gains market share.
- Mutual funds may shun IPOs.

Sports News

- India’s 2nd ODI today with Australia at Visakhapatnam.
- Kiwi media hits out after Bangladesh whitewash.
- India oil trounce BSF 5-1.