25th October - BUSINESS STANDARD

SAHIL BANSAL
SAJAN KUMAR
SANDEEP SINGH
Group- 19 (Section - G)

(1)-RBI wants lock-in period for FDI in hotels, tourism
# At present 100% FDI is allowed in the hotel and tourism.
# RBI suggested that a quarterly or annual on the receipt and
usages of foreign inward remittance , granting permission or licence
for running a hotel under which construction of the hotel should be
completed within a simulated period.
# Company would not be allowed to sell undeveloped plots.

(2)-Brokers eye FII refund money from Coal India
# FIIs will be sitting on a massive amount of cash ,courtesy the huge
Over-subscription and the mechanism of proportionate allotment.
# Invest in index stocks across the world have put in huge bids on
Expectation that the stock will be include in Sensex and nifty by
virtue of its sheer size.
#Market capitalisation of Coal India would be around 55 lakh
Crore, making it the seventh-largest listed entity.

(3)-SESA Goa plans foray into steel
# Vedanta Group firm Sesa Goa is planning an investment of
30,000 crore in the steel space in orissa and Jharkhand and many
rope in a global company to jointly run the venture.
# Anil agarwal had said that group would partner a “strong” steel
Company as and when it decide to foray into manufacturing of this
Commodity.

(4)- Birla, RUIA say MP projects will take shape next year.

# The company is setting up one of the biggest alumina projects in
Singrauli district with an investment of 20,000 crore .




# Essar group is also setting up a ferro alloy plant with an investment
Of 350 in M.P. Company signed a deal for the project today in Khajuraho.


(5)- R-Power gives Samalkot power equipment order to GE

# - Anil Ambani’s Reliance Power (R-Power) has placed an order with US-based power equipment maker GE Energy for its 2,400 Mw gas-based project planned at Samalkot in Andhra Pradesh.
# - This is the largest order for GE Energy in India. In addition to supply of equipment, comprising six gas turbines, three steam turbines and generators, GE will be providing maintenance services. All the six gas turbines are scheduled to be commissioned before March 2012, said a company statement.
(6)- Metal firms expect lower growth in Q2
# Ferrous and non-ferrous metal companies are expected to post only single-digit growth in sales and profit in the quarter ended September, due to a decline in steel prices, flat London Metal Exchange prices and higher input cost.
The cost of coking coal rose 7.5 per cent in the quarter. However, the consolidated performance of Tata Steel and Hindalco is likely to push profit of the sector by a little over 150 per cent.
#Domestic steel companies are likely to show eight per cent rise in net sales due to lower realisations, as prices decline in the first two months of the second quarter. However, during the past month, with production cuts announced in China, steel prices have rallied by $50-100/tonne in various regions.

(7) Vijaya Bank net up 33% in Q2
#Vijaya Bank, the Bangalore-based public sector lender, has reported a 33.08 per cent growth in its net profit at Rs 144.30 crore for the second quarter-ended September 30, 2010, over the corresponding quarter last year. The growth in profit was mainly on account of a 33.5 per cent year-on-year increase in net interest income, which went up to Rs 487.2 crore and negligible provisioning during the quarter
#The total income of the bank, however, was marginally up 4.3 per cent to Rs 1,520.9 crore in the second quarter as against Rs 1,457.6 crore in the year ago period.
(8) FMC preparing governance norms for spot exchanges
# Official sources explained that this would form part of the guidelines FMC was preparing for granting exemption to spot exchanges from the Forward Contracts Regulation Act (FCRA) while undertaking one-day futures and intra-day netting.
# Officials said the bigger objective of the measure is to drive the spot exchanges to become catalysts of growth in the commodity business, since they maintain various linkages from the farmer to the end user. They are linked with farmers, warehouses, banks, retailers, exporters and various other end-users. However the linkage is not very strong due to the infrastructure bottleneck and the farmer today gets only 25-30 per cent of the market realisation of the produce


(9)- Go digital this Diwali
# A Bluetooth headset that comes with a self-charging case, a camera that doubles up as a projector just some of the gadgets that truly stand out amid the modern electronics crowd.
# BlackBerry’s biggest innovation in Torch is a 3.5-inch capacitive touchscreen display that shares hands-on interface duties with Research in Motion’s familiar slider keyboard.
# The N8, clearly, has the best camera and video phone. Its 12-megapixel capability can singularly outclick almost all other digital cameras out there. The N8 also has a built-in graphics processor which, combined with its accelerometer, makes for an intuitive game play
# Headsets with charging case Rs 5,499The single-most impressive feature of Plantronics Discovery 975 is its styling, which is both cool and professional. The company has packed a new audio technology and a distinctive combination of a carrying as well as a charging case, making it a truly interesting new Bluetooth headset for smartphone users. According to Plantronics, the headset has a 20-band equaliser that produces a true natural sound, rather than giving you a metallic voice. It also has the ability to connect to two phones at once and a two-battery array that provides a total of 15 hours of talk time. Discovery 975’s case has a spring-loaded release latch to pop the earpiece out when not charging, plus an indicator that shows the power levels of both the earpiece and battery.