Monday, November 1, 2010

MINT 30th October

Submitted:

Sunil Dimri

Sushobh S

Swati Goyal

AUTOMOBILE

NANO’S PROMOTIONAL SCHEME YET TO SPUR SALES

Limited success has been attained for the scheme of conversion of 2 wheeler to 4 wheeler which was launched 3 three weeks ago.

2. The scheme allows owners of scooters and motorcycles to add their vehicles as part payment of the Nano.

3. The dealers claim that a lot of potential buyers aren’t getting loans for the car.

4. The company also trying to fund Nano’s through its motor finance arm Tata Motors Finance Ltd.

TECHNOLOGY

SOLUTIONS FOR LAWFUL INTERCEPTION OF BBM(BLACKBERRY MESSENGER)SERVICE BY 31ST JANUARY

1. Research In Motion Ltd has agreed to provide solutions to intercept messages routed on blackberry smartphones for India by 31st Jan.

2. Law enforcement agencies say that highly encrypted service could be misused by terrorists.

3. India has also asked Google to set up servers in India.

4. Home ministry has announced that all the telecom communication networks should be accessible to law enforcement agencies and all telecom service providers, including third parties

POLITICS

PROTEST PLANNED ON DAY OF OBAMA’S VISIT

1. Communist Party of India along with other

Left parties have planned for a countrywide protest on 8th November.

2. Obama will arrive on 6th November for 4 day visit and will address the parliamentarians on 8th November, the same day of protest.

3. CPM issued statement that they are just protesting against the policies of the US

4. Left parties might raise issues including justice for victims of Bhopal gas tragedy, US policy towards opening agriculture, retail trade and education in India

MARKET

CURRENT INDIAN MARKET SCENARIO

1. Sensex increased by Rs.91.3 and crossed the level of 20000

2. Nifty reached a level of 6017 and shot up 30 Rs

3. NSE starts trading in currency options on the US dollar-Indian rupee. it helped investors hedge against foreign exchange fluctuations

4. Nestle India’s profit climbs 20% in September quarter as domestic sales increased

5. United Breweries Ltd (UBL) reported a 87.1% rise in its profit helped by strong growth across geographiles such as US, China and India

JET AIRWAYS SWINGS TO PROFIT

1. Jet airways swung to a profit in the second quarter from a loss in the year ago period on improved seat occupancy and greater efficiency.

2. Its total income rose 32% to Rs.3,105.04 crore from Rs.2,344.18 crore In the month of September.

3. During the reporting quarter, airline passenger growth rose 12% while airlines added 8% capacity from the year ago.

4. The company has managed to increase its top line growth while it could maintain an operating profit margin of 22.1%.

5. The airline said that, the 3rd will see structural improvements in the domestic and international sectors.

NEWS IN THE NATION

LAW:

Supreme Court on Friday asked union government to file a comprehensive response in litigation over the distribution of food grains. It also asked government to respond to PUCL(people union for civil liberties) plea to distribute 35 Kg food grain at Rs.3 per kg to all families in 150 poorest districts.

ENERGY:

GSPL group wins Rs.1500cr project from offered by petroleum and natural gas regulatory board to lay a 700km pipeline between bhatinda in Punjab to Jammu.

INFORMATION TECHNOLOGY:

WIPRO wins 5yr UK contract with Electricity North West ltd. To provide end to end service transition and transformational services to maintain IT systems through a managed service frame work.

FOREIGN AFFAIRS:

1. Prime Minister Manmohan Singh on Friday met China premier Wen Jiabao to work on solution to difficult problems.

2. He asked China to be sensitive to India’s core issues and suggest and agreed to cooperate and collaborate for growth.

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