28th October - Business Line

Seema Shekhawat
Section -F

RBI chief warns of speculative capital flows
Speculative capital flow along with the problem of appereciating currancy as lead to asset price build up in emerging market technology. The ultra loose monatry policy of the central banks of developed countries has lead the situation. They invest for quick returns in the financial market of the developing economy, since aug FII have invested 15 billion dollar into the indian equity market.

2)Two third of states yet to remit pension scheme contributions.
Two third of the state government and a couple of union territories have not remitted the pension contributions of their new employees to bank of India which is the trusty bank for the accumulated money under the new pension scheme.


3)Biocon Ltd. To set up Rs. 715 Crore by similar facility in Malaysia.
The US FDA compliant plant would be operational by 2014 and high yield bio similars and bio pharmaceuticals for the global market. This is the biggest bio-technology investment in Malaysia. The facility with a head-count of 200 would come up at bio-Xcell Biotechnology Park in Iskandar Malaysia, close to Singapore.

4)Indian Hotels to raise Rs 850 Crore through prefferential allotment to TATA Sons.
IHCL that operates Taj Group of hotels and resorts will be raising around Rs. 850 Crore in two tranches through a prefferential allotment of shares to its main promoters – TATA Sons Ltd.

5)Dabur's Consolidated Q2 Net up 15.4% on cost control measures.
Growth in volumes of key categories and cost control measures led to an increase of 15.4%IN Dabur India Ltd. Consolidated net profit for the 2nd quarter ended in September 30 at Rs 160.35 Crores. Despite a significant rise in input cost, Dabur restricted its material inflation through higher buying effeciency and stringent cost saving programme.

6)HCL Infosystem net drops over 19% in Q1
HCL has reported over 19% drop in consolidated net profit for Q1 ended September 2010 on account of slower system integration, business wage hikes, a new investment in building of capacity.

7)sensex falls 216 points – a result dissapoints
strong sales on wednesday, driving the benchmark index to a 1 week low as financials reported by companies including NTPC Ltd and Asian Paints Ltd concern over slowing profit growth.

8)Crude Oil Declines as US supplies increases.
Crude oil fell for the 1st time in 4 days, after US supplies increases and dollar appreciated, curbing the appeal of comodities to investors.