Business Line - 14th october

SUBMITTED BY- DEVENDRA CHAUDHARY
DHIRENDRA SINGH
ISHANK GOYAL
(SEC-F)

FRONT PAGE:
1)SENSEX soars as FII(foreign institutional investors)pour in Rs.1 lakh cr. SENSEX closed at a 34-month high on wednesday as FIIs poured money into indian stocks.The benchmark index closed at 20,687.88 and NIFTY closed at 6,233.90.
2)The open offer for shares of spicejet will commence on october 18 and will close on november 8,said an announcement from the managers to the open offer Enam securities.
CORPORATE:
1)Coal India will invest Rs.2,785 crore to set up 20 coal beneficiation plants with a cumulative capacity of 110 million tonnes.
2)Sanitaryware firm HSIL LTD. is planning a capex of Rs. 350 crore in the next 30 months for capacity expansion of its sanitaryware,faucet and container glass plant.
INDUSTRY AND ECONOMY:
1)Indian oil,Hindustan Petroleum Corporation and Bharat Petroleum Corporation may have to
a plant of losses incurred on sale of subsidised LPG and kerosene in the first half of this
fiscal.
2)Banglore-based Featherlite gp. Will lauch a 7.5-acre residential project in Chennai on
friday.The project will have over 500 apartments and is the first of three residential project
planned in the city.
INFO-TECH:
1)Vodafone Essar has selected Nokia Siemen Networks(NSN) and Erricsson for supplying
3-G equipment.
2)Technology solution provider iGATE has reported a 52.6 percent rise in third quarter
revenues for the quarter ended September 30 at $74.8 million.Net income was up 66.67%
at $ 14.3 million.
3)IKF Technologies Ltd has bagged the contract for providing BPO and call centre services
to vodafone in Kolkata and rest of the west bengal.The company had earlier secured
contract from aircel for providing call centre services in the entire eastern region.
4)Mahindra Satyam has signed a 'large' contract with the US-based commonwealth of
Kentucky for design management system.this system will include scanning and imaging.
MONEY AND BANKING:
1)Oriental Bank of Commerce(OBC) has announced a special microfinance product to
provide hassle free credit to micro enterpreneurs for setting up new units or enhancing
existing units.
AGRI BUSINESS AND COMMODITIES:
1)Falling production in tea production may continue.This is due to incessant rain and pest attacks.The tea production in the south dropped 5.1 million kg in august.
2)Government agencies and private millers have produced over 24.84 lakh tonnes of paddy in punjab and more than 5.65 lakh tonnes in Haryana till tuasday.