BUSINESS STANDARDS

RBI Calms Jittery Market, As Call Rates Top 12%
• InterBank Call money rates increases more than 12% even though the banks borrowed Rs. 1, 17660 crore from RBI.
• RBI opens a second Liquidity Adjustment Facility.
• Banks have to invest up to 25% of their demand and time liabilities in government securities to maintain SLR.
• The Liquidity shortage this week averaged Rs.90000 crore because of the Coal India initial public offering with record of Rs.15,500 crore.


ICICI Bank Net profit up 22%
• ICICI bank posted a 22% increase in its net Profit to RS. 1395 crore ended Sept 30.
• The bank share rose 6.5% on the BSE.
• Provision fell 40% to 641crore even as rose non performing assets rose to Rs.101412.2 core from Rs.9200 crore.
• The Net profit grew 19%.


Air India Plans to revive Vayudoot

• National Aviation Company of India Ltd which owns Air India is planning to Launched as Indian Airlines subsidiary in 1981to serve the north east region and has 100 stations across the country.
• However due to financial crises,Vayudoot was emerged with Indian Airlines.
• Vayudoot will operate from state like UP, Bihar, MP, Jharkhand and northern region.
• The official said that the plan is to operate 4 types of aircraft depending on demand :15-20seats, 50seats.120-180seats and 300seats aircraft
• Plans are also being made to lease these craft.

GSPC-OMC set to win RS18000 Cr of gas pipeline
• GSPC owns 52 % in the pipeline consortium and IOC 26%.HPCL and BPCL have 11% of each.
• The consortium is the front runner in all the three and has outbid GAIL in two projects.
• So, far the gas pipeline Business was dominated by GAIL and RELIANCE Industries Ltd.
• The Govt. is keen to expand the network to bring the considerable interstate disparity in the gas consumption.

TATA among first business leader UK PM met
• TATA was one of the few business global leaders whom Cameron had met soon after taking office.
• TATA group had played host to Cameron and his cabinet members when they visited INDIA July this year.
• The subject of meeting with TATA has simply been listed as “to discuss business issues”.
• This meeting is a part of transparency policy introduce by the new coalition Govt. In the UK.
• The meeting between Cameron and Tata reflects the importance of Tata group in UK.

Microsoft Profit, Revenue soar
• Software giant Microsoft Corporation has reported a 51% jump in net income to$5.41 billion dollar.
• The company has registered record revenue of $16.20 billion for the first quarter ended september30, 2010, a 25% increase.
• As said by Microsoft Chief financial officer “over ability to grow revenue while continuing the cost allowed us to deliver another quarter margin expansion.

Norway offers ONGC a bite of $1 billion carbon effect
• The Norwegian Govt has offered ONGC a stake in a $1-billion Carbon capture.
• The offer was made at a meeting between a Norwegian delegation, headed by state secretary
• Norway is also offering India technology for deepwater and subsea exploration.
• The Norwegian Govt holds 75.12%in the project, while state –owned Statoil owns 20%.

Nestlé’s, ITC’s net Profit up and Hero Honda’s down

Nestle

Net profit up by
20%

Current year’s profit
218.5 Crore

Corresponding year’s profit
182.78 Crore ITC

Net profit up by
23.5%

Current year’s profit
1246.7 Crore

Corresponding year’s profit
1009.9 Crore Hero Honda

Net profit down by
15%

Current year’s profit
505.6

Corresponding year’s profit
597.1


Samsung banks of Tablet PC, to take on I pad

Samsung electronics today announced its tablet personal computer “Galaxy” at the price of 38,000.
Galaxy to be sold from Nov, 10, has a display screen of 7” while the I-pad has 9.7”.
Both have 3G and wifi connectivity apart from features such as high storage memory.


Submitted by,
Varun Nayar
Vinit Bhardwaj
Vishal Singh
Zawad Ahmad
Sec-G