SUBMITTED BY:
JAYATI JINDAL
SECTION I
Group:9
NEWS
Ministry, AERA split over tariffs
The civil aviation ministry has sought a clarification from the Airpor tEconomic Regulatory Authority(AERA)for allegedly overstepping its mandate on fixing aeronautical tariff .
their was disagreement between the two over a suitable methodology to fix airport tariffa cross the major airports.
Raja's move on USOF to benefit only 1 company
Telecom minister A Raj controversial minister now wants money from the Universal Service Obligation (USO) Fund meant to promote rural telephony to be allocated to telecom tower companies under certain norms which, if implemented, would benefit only a single company.
The minister has asked USOF administrator Ajay Bhattacharya to make it mandatory that only those who build towers under phase-2 of the project — worthRs5,000crore—–which use Renewable energy sources in rural areas with population up to 500 would get grants.
Bhattacharya has refused to make the changes as it would limit the number of applicants to just one.
Now, Indians extend tales of success to global NGOs
After making their mark in leading multinationals,IIMand IIT alumni are now taking their success stories a step further and heading some of the most influential international nonprofit organisations, helping them tackle challenges ranging from protection of human rights to mitigating climate change.
DMRC moots Rs 1,000-cr fund to help reduce debt
DMRC is currently burdened with nearly Rs 16,000 crore borrowings
IT has to borrow more as it has to develop six additional corridors which will cost more than Rs 21,000 crore. The debt-equity ratio of the Delhi Metro project is 2:1.
Delhi Metro Rail Corporation (DMRC) has asked the Delhi government to create a special fund to help the company reduce its debt burden
legal notes SC notice to Sebi over ban on non-brokers
Sebi on a petition challenging its power to debar non-brokers from trading in the securities market and to penalise them for unfair trade practices.
CORPORATE AND MARKET
Skoda mulls tie-up with Maruti for small cars
Govt to pay brokers IPO commission in 45 days
Earlier, the payment release used to take five to six months but now the government has fast tracked the commission payment system for brokers.“ For smaller issues the commission will be released within a month while for large issues it would be 45 days,” disinvestment secretary,Sumit Bose said.
World Monuments Fund honours Ratan Tata
Parle ITC grid up for snacks war
fight multinational competition in the branded snacks sector in India
Parle Products has re-branded its existing snack brands Musst Chips and Musst Stix as Parle Chips and Fulltoss respectively
Parle Produts is getting ready to launch an aggressive mass media campaign next month
Brokers' NBFC arms issue Rs 3,000-cr CP
NBFC arms of brokerages are rushing to borrow money via commercial paper and have picked up close to Rs 3,000 crore.
Indeed, interest rates have shot up in the short-term money markettoaround 8.5-9%
Some players fear there could be a shortage of liquidity.
Rising costs to hurt mid-cap companies
Profit growth of mid-cap Indian firms in theSeptember quarter is likely to be pressured by risings costs, but sectors such as auto parts and construction could see robust growth
While cement and sugar makers will be laggards, and may even post losses
SMALL AND MEDIUM BUSINESS
SME EXCHANGE The viability test
The poor market response to OTCEI and Indo-Next experiments call for a cautious approach to SME platform
Taxes on imports, products and trade
Queries on taxation and foreign trade regulations, addressed by Ernst & Young
MONEY AND BANKING
L&TInfraplansRs700cr infrastructurebondissue
Market roundup Rupee, yields rise:Re strengthens 0.9% to 44.12 touching a two-year high
Axis Bank Q2 net up 38%
STOCK MARKET
SENSEX :
Was 20345 pts fell by 152 pts
NIFTY:
Was 26126 pts Fell by 51pts
Friday, October 15, 2010
Business Standard - 15th October
Submitted by:
Kunal Kothari
Lovish Tuteja
Koushik Sinha Mahapatra
(Group no. 9, Sec-G)
Today's Headlines
• Hero Honda today reported a jump of 8.06 per cent in sales in September at . 4,33,641 units.
• India won 101 medal, including 38 gold medal in CWG.
• Obama likely to stay at Mumbai Taj Hotel
• Handicraft exports grow by 33% in Sept
• Tatas shelves plan to shut JLR Midlands plant
• GMR, JSW in Rs 2,200-crore battle for Canada's CIC
• R-Infra raises Rs 7,000-crore debt
• - Social media eats into TV audiences
• IOC losing Rs 75 cr a day on fuel sale
• Reliance Industries raises $1.5 bn debt
• India offers 34 oil & gas blocks for exploration
• Suzuki may fix 280,000 Swift, other models
• Satyam ADR trading transferred to OTC market
• Sensex 20125.05 -372.59-1.82%
BANKING AND FINANCE
Axis Bank net profit up 38%
LIC Housing Fin net up 37%
L&T Infra to raise Rs 700 crore from infra bonds
RBI divests stake in Nabard to government
ICICI may consider six-month block on bankers' defections.
ECONOMY & POLICY
Power capacity grows 8.12 per cent in August
India to play crucial role at WANO meet
Q&A: T C A Anant, Chief Statistician of India
Governance for tomorrow
Farm output to grow 7.2%: CMIE
Spectacular ceremony draws curtain on 2010 CWG
A dazzling laser show and a musical extravaganza tonight marked the grand finale of the Commonwealth Games (CWG), the biggest sporting event hosted by India which crowned itself with sporting glory by winning an unprecedented 101 medals.
As at the spectacular opening ceremony 12 days ago, all the controversies that had dogged the Games -- corruption, filth, snakes, mismanagement -- were momentarily forgotten because some 5,000 athletes from 71 countries had sportingly competed for 826 medals of which India won 101, including 38 gold, its highest ever, to be the second in the tally behind Australia with a total of 177.
The ceremony began with the arrival of dignitaries who included Prime Minister Manmohan Singh, Vice President M Hamid Ansari, UPA chairperson Sonia Gandhi, CGF chief Michael Fennell and Sri Lankan President Mahinda Rajapaksa, the guest of honour.
The tumultuous journey of India, which saw a trouble-ridden build-up marred by corruption scandals and missed deadlines, soon came to an end.
RBI sells stake in Nabard worth Rs 1,430 cr
Amid the debate over whether the Reserve Bank of India (RBI) should hold stake in lending institutions or only be a regulator, the central bank has sold almost all its holding in the apex agriculture and rural development bank, Nabard, to the government of India.
"The RBI divested its stake amounting to Rs 1,430 crore in National Bank for Agriculture and Rural Development (Nabard) on October 13, 2010. With this, the Reserve Bank's holding in Nabard has come down to 1 per cent of shareholding in Nabard. The government of India now holds 99 per cent of the stake," the central bank said in a statement here.
The Reserve Bank held 72.5 per cent of equity in Nabard amounting to Rs 1,450 crore. The remaining shareholding worth Rs 550 crore was with the government of India.The Union Cabinet in May 2008 had approved RBI's proposal to transfer its share holding in Nabard to the government.Now, the only major institution where RBI holds a stake is National Housing Bank (NHB). The central bank hold 100 per cent stake in the housing finance regulator.
LIC Housing finance Q2 profit up 37%
Housing mortgage lender LIC Housing Finance reported a rise of 36.8 per cent in its net profit to R234.2 crore for the quarter ended September 2010, riding on the robust growth in its interest income. The net interest income of the company grew by 63 per cent to R305 crore in the second quarter ended on September, against R187 crore in the same quarter previous year. Its total income increased to R 1,107.4 crore in the second quarter of fiscal 2010-11 from R839.07 crore in the corresponding quarter last year.
Skoda mulls tie-up with Maruti for small car
It's action time at SkodaAuto India. After Volkswagen, another group company SkodaAuto India is looking at the possibility of collaborating with Maruti Suzuki to launch a small car below its newly-launched new generation Fabia by 2012. A senior official of the company on Thursday said in Chennai that SkodaAuto India is open to such pacts and Volkswagen, Maruti Suzuki and Skoda will mull a tie up on the issue. The official also said that the company is gearing up to launch a new car in the C segment, replacing Octavia (which was phased out recently) during the second half of 2011. It is also set to launch the SUV Skoda Yeti in November and has set a target of 7% to 10% share in the B+ segment by 2011 as against 3% now.
L&T Infra Finance to raise up to Rs.700 crore
Diversified group L&T's infrastructure finance subsidiary on Thursday said it planned to raise up to Rs.700 crore from retail investors through a long-term tax-saving infrastructure bond issue.
The issue of the ten-year maturity bonds, which will be open till November 2, comes close on the heels of L&T Infra's peer in the infrastructure finance companies (IFC) space, IDFC, hitting the market with a similar Rs.3,400-crore issue.
Wi Fi hacking: 50 percent of home wi-fi can be hacked in five seconds
Wi Fi hacking: 50 percent of home wi-fi can be hacked in five seconds. Nearly half of home wi-fi networks can be hacked in less than five seconds, according to a study carried out across UK cities Thursday. Of the 40,000 networks identified in the six cities, just under 20,000 had no password or the most basic form of security encryption, the research for card protection and insurance company "CPP" found.
Kunal Kothari
Lovish Tuteja
Koushik Sinha Mahapatra
(Group no. 9, Sec-G)
Today's Headlines
• Hero Honda today reported a jump of 8.06 per cent in sales in September at . 4,33,641 units.
• India won 101 medal, including 38 gold medal in CWG.
• Obama likely to stay at Mumbai Taj Hotel
• Handicraft exports grow by 33% in Sept
• Tatas shelves plan to shut JLR Midlands plant
• GMR, JSW in Rs 2,200-crore battle for Canada's CIC
• R-Infra raises Rs 7,000-crore debt
• - Social media eats into TV audiences
• IOC losing Rs 75 cr a day on fuel sale
• Reliance Industries raises $1.5 bn debt
• India offers 34 oil & gas blocks for exploration
• Suzuki may fix 280,000 Swift, other models
• Satyam ADR trading transferred to OTC market
• Sensex 20125.05 -372.59-1.82%
BANKING AND FINANCE
Axis Bank net profit up 38%
LIC Housing Fin net up 37%
L&T Infra to raise Rs 700 crore from infra bonds
RBI divests stake in Nabard to government
ICICI may consider six-month block on bankers' defections.
ECONOMY & POLICY
Power capacity grows 8.12 per cent in August
India to play crucial role at WANO meet
Q&A: T C A Anant, Chief Statistician of India
Governance for tomorrow
Farm output to grow 7.2%: CMIE
Spectacular ceremony draws curtain on 2010 CWG
A dazzling laser show and a musical extravaganza tonight marked the grand finale of the Commonwealth Games (CWG), the biggest sporting event hosted by India which crowned itself with sporting glory by winning an unprecedented 101 medals.
As at the spectacular opening ceremony 12 days ago, all the controversies that had dogged the Games -- corruption, filth, snakes, mismanagement -- were momentarily forgotten because some 5,000 athletes from 71 countries had sportingly competed for 826 medals of which India won 101, including 38 gold, its highest ever, to be the second in the tally behind Australia with a total of 177.
The ceremony began with the arrival of dignitaries who included Prime Minister Manmohan Singh, Vice President M Hamid Ansari, UPA chairperson Sonia Gandhi, CGF chief Michael Fennell and Sri Lankan President Mahinda Rajapaksa, the guest of honour.
The tumultuous journey of India, which saw a trouble-ridden build-up marred by corruption scandals and missed deadlines, soon came to an end.
RBI sells stake in Nabard worth Rs 1,430 cr
Amid the debate over whether the Reserve Bank of India (RBI) should hold stake in lending institutions or only be a regulator, the central bank has sold almost all its holding in the apex agriculture and rural development bank, Nabard, to the government of India.
"The RBI divested its stake amounting to Rs 1,430 crore in National Bank for Agriculture and Rural Development (Nabard) on October 13, 2010. With this, the Reserve Bank's holding in Nabard has come down to 1 per cent of shareholding in Nabard. The government of India now holds 99 per cent of the stake," the central bank said in a statement here.
The Reserve Bank held 72.5 per cent of equity in Nabard amounting to Rs 1,450 crore. The remaining shareholding worth Rs 550 crore was with the government of India.The Union Cabinet in May 2008 had approved RBI's proposal to transfer its share holding in Nabard to the government.Now, the only major institution where RBI holds a stake is National Housing Bank (NHB). The central bank hold 100 per cent stake in the housing finance regulator.
LIC Housing finance Q2 profit up 37%
Housing mortgage lender LIC Housing Finance reported a rise of 36.8 per cent in its net profit to R234.2 crore for the quarter ended September 2010, riding on the robust growth in its interest income. The net interest income of the company grew by 63 per cent to R305 crore in the second quarter ended on September, against R187 crore in the same quarter previous year. Its total income increased to R 1,107.4 crore in the second quarter of fiscal 2010-11 from R839.07 crore in the corresponding quarter last year.
Skoda mulls tie-up with Maruti for small car
It's action time at SkodaAuto India. After Volkswagen, another group company SkodaAuto India is looking at the possibility of collaborating with Maruti Suzuki to launch a small car below its newly-launched new generation Fabia by 2012. A senior official of the company on Thursday said in Chennai that SkodaAuto India is open to such pacts and Volkswagen, Maruti Suzuki and Skoda will mull a tie up on the issue. The official also said that the company is gearing up to launch a new car in the C segment, replacing Octavia (which was phased out recently) during the second half of 2011. It is also set to launch the SUV Skoda Yeti in November and has set a target of 7% to 10% share in the B+ segment by 2011 as against 3% now.
L&T Infra Finance to raise up to Rs.700 crore
Diversified group L&T's infrastructure finance subsidiary on Thursday said it planned to raise up to Rs.700 crore from retail investors through a long-term tax-saving infrastructure bond issue.
The issue of the ten-year maturity bonds, which will be open till November 2, comes close on the heels of L&T Infra's peer in the infrastructure finance companies (IFC) space, IDFC, hitting the market with a similar Rs.3,400-crore issue.
Wi Fi hacking: 50 percent of home wi-fi can be hacked in five seconds
Wi Fi hacking: 50 percent of home wi-fi can be hacked in five seconds. Nearly half of home wi-fi networks can be hacked in less than five seconds, according to a study carried out across UK cities Thursday. Of the 40,000 networks identified in the six cities, just under 20,000 had no password or the most basic form of security encryption, the research for card protection and insurance company "CPP" found.
BUSINESS LINE - 15th October
Submitted by: sec-f
Harshit kumar
Gaurav arora
Gaurav Sharma
Indirect tax mop-up soars 44% in H1 on robust factory output
The Centre's indirect tax collection registered a robust 44.4 per cent increase in the first half of the current fiscal to Rs 1,50,686 crore.
For September, the Centre's indirect tax collection recorded a 37.62 per cent increase to Rs 26,476 crore (Rs 19,238 crore).
Customs duty collections in April-September registered 66.8 per cent increase to Rs 63,229 crore (Rs 37,907 crore).
4the Customs duty collections stood at Rs 11,323 crore, reflecting a 67.6 per cent increase over the Rs 6,756 crore collected in same month last year.
Service tax collections in the first half registered a 14.8 per cent increase to Rs 26,623 crore (Rs 23,191 crore)
Interest income boosts axis bank net 38%
Axis bank post a net profit of Rs 735 crore as compare the corresponding previous quarter which is 531 crore.
September14. 2010 axis bank bse price is 1420 and October 14, 2010 is 1563. Axis bank raised its base points 7.75 percent from 7.25 per cent earlier this month.
Gross non performing assets (npas) were at Rs1362 crore . durning the quarter , the bank added Rs 445 crore to gross npas and the bank restructured loans amounting to Rs 60 crore.
Gold hits $1,380 an ounce
Gold prices have reached yet another high in dollar terms, trading at $1,380 an ounce early on Thursday evening.On Wednesday, the yellow metal closed at $1,371.1/oz, a rise of 1.6 per cent to a record fresh high. For the first time, Indian wholesale prices breached the psychological Rs 20,000.There is continued investor interest in gold because of macroeconomic pessimism and weaker equity markets.
LIC Housing net rises 37% on higher disbursements
LIC Housing Finance's net profit rose 37 per cent to Rs 234 crore in the second quarter of 2010-11, from Rs 171 crore in the corresponding year ago period.Higher disbursements and improved margins contributed to the profits.Mr R.R Nair, Director and Chief Executive of LIC Housing Finance. Reduction in the non-performing assets also helped increase profits, he said.Net interest margin increased to 2.93 per cent but was lower from the first quarter NIM of 3.01 per cent.Mr Nair said the margins may not fall further this year as the housing finance company increased its PLR by 50 basis points on September 30.LIC HF's scrip ended at Rs 1,458.05 on the BSE on Thursday, up 0.96 per cent from the previous close of Rs 1,444.15.
SBM HIKES TERM DEPOSIT RATES
State bank of mysore has increased its interest rates up to 75 basis points on different tenures effective october 15.The bank will now offer 7.75 percent interest for deposits below 15 lakh8 percent for deposits of Rs 15 lakh and above.Senior citizens will get 0.5 per cent interest additional.
Capgemini hires ex-Patni V.P as HR head
Mr Rajesh Padmanabhan has been appointed as the head of HR for french information technology company Capgemini’s India unit. He was till recently heading the human resource function for Patni computer systems. He will be managing 29,000 staffers. Mr R.Padmanabhan took over as the HR head from Mr Sripada Chandrasekhar who now joined IBM India. In career spanning over 25 years Mr. Padmanabhan has worked with industry majors like ICICI, the oberoi group and essel propack.
Brokerages expect Q2 revenue to grow 20%
Broking houses expect second quarter results to echo the tone set by India inc’s first quarter results. Though most brokerages that have released their earnings previews see revenue to grow by around 20%. They strongly believe that EBITDA margins would remain under pressure and that the capex cycle would pick up only in second half of this fiscal. Cement ,sugar and telecom stocks would see erosion in profits when compared to the second quarter of last year.
Harshit kumar
Gaurav arora
Gaurav Sharma
Indirect tax mop-up soars 44% in H1 on robust factory output
The Centre's indirect tax collection registered a robust 44.4 per cent increase in the first half of the current fiscal to Rs 1,50,686 crore.
For September, the Centre's indirect tax collection recorded a 37.62 per cent increase to Rs 26,476 crore (Rs 19,238 crore).
Customs duty collections in April-September registered 66.8 per cent increase to Rs 63,229 crore (Rs 37,907 crore).
4the Customs duty collections stood at Rs 11,323 crore, reflecting a 67.6 per cent increase over the Rs 6,756 crore collected in same month last year.
Service tax collections in the first half registered a 14.8 per cent increase to Rs 26,623 crore (Rs 23,191 crore)
Interest income boosts axis bank net 38%
Axis bank post a net profit of Rs 735 crore as compare the corresponding previous quarter which is 531 crore.
September14. 2010 axis bank bse price is 1420 and October 14, 2010 is 1563. Axis bank raised its base points 7.75 percent from 7.25 per cent earlier this month.
Gross non performing assets (npas) were at Rs1362 crore . durning the quarter , the bank added Rs 445 crore to gross npas and the bank restructured loans amounting to Rs 60 crore.
Gold hits $1,380 an ounce
Gold prices have reached yet another high in dollar terms, trading at $1,380 an ounce early on Thursday evening.On Wednesday, the yellow metal closed at $1,371.1/oz, a rise of 1.6 per cent to a record fresh high. For the first time, Indian wholesale prices breached the psychological Rs 20,000.There is continued investor interest in gold because of macroeconomic pessimism and weaker equity markets.
LIC Housing net rises 37% on higher disbursements
LIC Housing Finance's net profit rose 37 per cent to Rs 234 crore in the second quarter of 2010-11, from Rs 171 crore in the corresponding year ago period.Higher disbursements and improved margins contributed to the profits.Mr R.R Nair, Director and Chief Executive of LIC Housing Finance. Reduction in the non-performing assets also helped increase profits, he said.Net interest margin increased to 2.93 per cent but was lower from the first quarter NIM of 3.01 per cent.Mr Nair said the margins may not fall further this year as the housing finance company increased its PLR by 50 basis points on September 30.LIC HF's scrip ended at Rs 1,458.05 on the BSE on Thursday, up 0.96 per cent from the previous close of Rs 1,444.15.
SBM HIKES TERM DEPOSIT RATES
State bank of mysore has increased its interest rates up to 75 basis points on different tenures effective october 15.The bank will now offer 7.75 percent interest for deposits below 15 lakh8 percent for deposits of Rs 15 lakh and above.Senior citizens will get 0.5 per cent interest additional.
Capgemini hires ex-Patni V.P as HR head
Mr Rajesh Padmanabhan has been appointed as the head of HR for french information technology company Capgemini’s India unit. He was till recently heading the human resource function for Patni computer systems. He will be managing 29,000 staffers. Mr R.Padmanabhan took over as the HR head from Mr Sripada Chandrasekhar who now joined IBM India. In career spanning over 25 years Mr. Padmanabhan has worked with industry majors like ICICI, the oberoi group and essel propack.
Brokerages expect Q2 revenue to grow 20%
Broking houses expect second quarter results to echo the tone set by India inc’s first quarter results. Though most brokerages that have released their earnings previews see revenue to grow by around 20%. They strongly believe that EBITDA margins would remain under pressure and that the capex cycle would pick up only in second half of this fiscal. Cement ,sugar and telecom stocks would see erosion in profits when compared to the second quarter of last year.
BUSINESS STANDARD - 15TH OCTOBER, 2010.
SUBMITTED BY:
KAMEI LANCHUNGPU
KINSHUK DEV
SECTION –G
GROUP- 9
PGP10-12
CYBERCRIMINALS USE BOTNETS TO CAPTURE PCs
Cyber criminals in India are increasingly trying to create botnets by attacking capturing PCs by spreading virus. India rank 25th in terms of bot infection detected.
The country had 38,954 with bots cleaned in Q2 this year. Bot herder also provide services to the third parties, usually for sending spam messages
RBI INTERVENE TO STEM UNABATED RISE IN RUPEE
State bank of India concerns about a liquidity shortage , with an estimated Rs.11,000 crore expected to flow out of the system for IPO
RBI intervene , it will temper the the rupee’s appreciation and inject liquidity into the system.
With Good US earnings reports boosting sentiments, a further upsides in rupee looks likely.
INDIA CREATES HISTORY BY FINISHING SECOND
-India finishes a historic second in the final pecking order with more than 100 medals in the Common wealth Games.
A record medal haul 38 gold,27 silver and 36 bronze medals, the best ever harvest for the country in the Game history.
After the shambolic build up that includes a dirty athletes village, The Common Wealth Games was given a pat on the back by CGF
chief Michael Fennell in his concluding media conference.
.GAMES FAIL TO CHEERS STEEL MAKERS
Delhi Common Wealth Games scored poorly on this front.
According to industry player Beijing Olympics created a demand of 6-7 million tones of steel in china.
In contrast Common Wealth Games India has created a less demand, steel used was less than 1 million tones, even the steel consumption increased between 2003 – 2010 by 90% and production by 67%.
India’s per capita income of steel is 46 kg while china is 500kg. Gvt. norms should be change , more steel should be use for longevity ..””JSL””
Anticipation is running high that india’s consumption of steel will be increase by 13%.
Markets & Investing:
MARKETS EXTEND LOSSES,IT BATTERED
Heavy selling in the last leg of the trade in IT and Banking dragged markets lower. Markets ended the week in the red, Sensex closed near the day's low at 20,125, down 373 points and Nifty declined 115 points, at 6047.
Heavy selling is also seen in the banking stocks on back of global sell-off in financials due to growing concerns that foreclosure problems in the United States could seep into broader financial markets. Axis Bank fell over 2% on restricted profit growth in the September quarter on back of margin pressure.
FUND MANAGERS RIDE HIGH ON BULL RALLY
Coinciding with the ongoing bull phase, fund managers have been quick to seize the opportunities and latch on to the gains. They were mostly invested fully in the period starting September 1. Most of the fund managers, barring Shishir Bajpai, are at negligible levels. An investment of Rs 10 lakh at the start of the Smart Portfolios season is today valued at Rs 11.21 lakh, up 8.5 per cent. Similarly, fund managers have logged varying returns between 4 per cent and 33 per cent each.
LENDING RATES HIKE IMMINNENT:BHATT
Country's largest lender State Bank of India today said it will be hiking its lending rates very soon on the back of a rise in its cost of deposits.
AUTO INDUSTRY EXPECT SLOWER GROWTH AT 18-20 %
After reporting a 27.3 per cent rise in domestic automotive sales in the first half of the current financial year, the Society of Indian Automobile Manufacturers (Siam) expects growth in the domestic market to close at 18-20 per cent for the entire year. Last year, the industry had witnessed 26.4 per cent growth.
AXIS BANK NET PROFIT UP 38%
Owing to strong growth in interest income, the country’s third-largest private sector lender, Axis Bank, reported a net profit of Rs 735.14 crore for the second quarter of this financial year, a 38.28 per cent increase from Rs 531.64 crore a year ago.
GSK TO MAKE INDIA A HUB FOR ANTI-PARASITE DRUGS
GSK would make additioal investments in India and South Africa to increase production of anti-parasite drug albendazole to one billion tablets a year from 2010.
Launched a new albendazole manufacturing facility at Nashik in Maharastra .
BJP GOVT IN K'TAKA WINS 2ND TRUST VOTE
Karnatka's B S Yeddyurappa today become India's first chief minister to win a confidence vote twice in the same week.
BJP government won by a 106-100 margin .
FARM OUTPUT TO GROW 7.2%: CMIE
• Good monsoon rains and higher estimates of crop acreage will help agricultural production grow by 7.2 % in 2010-11.
• Govt's estimates a 10.4% rise in kharif output and overall projection of 13% increase in agricultural output.
KAMEI LANCHUNGPU
KINSHUK DEV
SECTION –G
GROUP- 9
PGP10-12
CYBERCRIMINALS USE BOTNETS TO CAPTURE PCs
Cyber criminals in India are increasingly trying to create botnets by attacking capturing PCs by spreading virus. India rank 25th in terms of bot infection detected.
The country had 38,954 with bots cleaned in Q2 this year. Bot herder also provide services to the third parties, usually for sending spam messages
RBI INTERVENE TO STEM UNABATED RISE IN RUPEE
State bank of India concerns about a liquidity shortage , with an estimated Rs.11,000 crore expected to flow out of the system for IPO
RBI intervene , it will temper the the rupee’s appreciation and inject liquidity into the system.
With Good US earnings reports boosting sentiments, a further upsides in rupee looks likely.
INDIA CREATES HISTORY BY FINISHING SECOND
-India finishes a historic second in the final pecking order with more than 100 medals in the Common wealth Games.
A record medal haul 38 gold,27 silver and 36 bronze medals, the best ever harvest for the country in the Game history.
After the shambolic build up that includes a dirty athletes village, The Common Wealth Games was given a pat on the back by CGF
chief Michael Fennell in his concluding media conference.
.GAMES FAIL TO CHEERS STEEL MAKERS
Delhi Common Wealth Games scored poorly on this front.
According to industry player Beijing Olympics created a demand of 6-7 million tones of steel in china.
In contrast Common Wealth Games India has created a less demand, steel used was less than 1 million tones, even the steel consumption increased between 2003 – 2010 by 90% and production by 67%.
India’s per capita income of steel is 46 kg while china is 500kg. Gvt. norms should be change , more steel should be use for longevity ..””JSL””
Anticipation is running high that india’s consumption of steel will be increase by 13%.
Markets & Investing:
MARKETS EXTEND LOSSES,IT BATTERED
Heavy selling in the last leg of the trade in IT and Banking dragged markets lower. Markets ended the week in the red, Sensex closed near the day's low at 20,125, down 373 points and Nifty declined 115 points, at 6047.
Heavy selling is also seen in the banking stocks on back of global sell-off in financials due to growing concerns that foreclosure problems in the United States could seep into broader financial markets. Axis Bank fell over 2% on restricted profit growth in the September quarter on back of margin pressure.
FUND MANAGERS RIDE HIGH ON BULL RALLY
Coinciding with the ongoing bull phase, fund managers have been quick to seize the opportunities and latch on to the gains. They were mostly invested fully in the period starting September 1. Most of the fund managers, barring Shishir Bajpai, are at negligible levels. An investment of Rs 10 lakh at the start of the Smart Portfolios season is today valued at Rs 11.21 lakh, up 8.5 per cent. Similarly, fund managers have logged varying returns between 4 per cent and 33 per cent each.
LENDING RATES HIKE IMMINNENT:BHATT
Country's largest lender State Bank of India today said it will be hiking its lending rates very soon on the back of a rise in its cost of deposits.
AUTO INDUSTRY EXPECT SLOWER GROWTH AT 18-20 %
After reporting a 27.3 per cent rise in domestic automotive sales in the first half of the current financial year, the Society of Indian Automobile Manufacturers (Siam) expects growth in the domestic market to close at 18-20 per cent for the entire year. Last year, the industry had witnessed 26.4 per cent growth.
AXIS BANK NET PROFIT UP 38%
Owing to strong growth in interest income, the country’s third-largest private sector lender, Axis Bank, reported a net profit of Rs 735.14 crore for the second quarter of this financial year, a 38.28 per cent increase from Rs 531.64 crore a year ago.
GSK TO MAKE INDIA A HUB FOR ANTI-PARASITE DRUGS
GSK would make additioal investments in India and South Africa to increase production of anti-parasite drug albendazole to one billion tablets a year from 2010.
Launched a new albendazole manufacturing facility at Nashik in Maharastra .
BJP GOVT IN K'TAKA WINS 2ND TRUST VOTE
Karnatka's B S Yeddyurappa today become India's first chief minister to win a confidence vote twice in the same week.
BJP government won by a 106-100 margin .
FARM OUTPUT TO GROW 7.2%: CMIE
• Good monsoon rains and higher estimates of crop acreage will help agricultural production grow by 7.2 % in 2010-11.
• Govt's estimates a 10.4% rise in kharif output and overall projection of 13% increase in agricultural output.
The Mint - 15th October
SUBMITTED BY :
DHARA TRIVEDI
DINESH GARG
FOZIYA SIDDIQUEE
GROUP8
SECTION H
TOP STORY
CLOSING CEREMONY OF XIX COMMONWEALTH GAMES
Total medals won by india are 101 including 38 gold medals
australia topped with total of 177 medals including 74 gold medals
saina nehwal won gold in badminton singles final and helped india getting 2nd place leaving england behind
CWG ended with high-tech laser show and fireworks at jawahar lal nehru stadium in new delhi, succesfully.
OFFER FOR YAHOO
AOL(American Online) Inc., and several private equity(PE) firms are exploring making an offer to buy yahoo Inc.
Silver Lake partners and Blackstone groups are PE companies intersted in teaming up with AOL to buy yahoo. Discussion yet does not involve yahoo
Yahoo AOL combination could effectively compete in online advertisement against google Inc
Yahoo is facing competition and display advertisement and lacks behind facebook.
OSTEOPOROSIS DRUGS LINKED TO FRACTURE
US drug regulator warned doctors and patients that drug known as biophosphonates can cause bone fracture( like fosamax and boniva)
FDA(food and drug administration) asked US manufacturer to include warning about this side effect but there is no word from indian drug authorities about this.
Indian companies selling this drug are Elder Pharmaceuticals, Sun pharmaceuticals, Nacto pharma and Ranbaxy ltd
MARKET
COAL INDIA LTD. IS OPENING ITS IPO FROM 18TH OCTOBER TO 21ST OCTOBER
it is expected that foreign investors are likely to invest more on this IPO
stock market is expected to rise because of this IPO
the price is expected from rs.225-245 per share with 5% dicount fot retail investors and employees
CIL had seen profits at growth rate of 33.7% between 2007 and 2010 led mainly by volume expansion.
AXIS BANK LENDING GROWTH TO SLOW FURTHER IN THE QUARTERS AHEAD
loans outstanding increase by only 1.8% between 30th june to 30th sept
only loans to large company showed somegrowth over the period while loans to small & medium enterprise remained nearly same
the net result in september quarter has been much lower growth in operating profit
operating profit was 13.8% in september as compared with 23.3% in june
COMMERCIALIZATION
ADVERTISERS FUME AS COLORS IS BLACKED OUT OVER BIGG BOSS
Controversy is opposition party shiv senna had asked cable operators to take the channel off air until it removes 2 pakistani participants from Big Boss show.
Advertisers may claim compensation from viacom 18 that has been blacked out in parts of mumbai.
CURRENT INDIAN MARKET SCENARIO
GOLD demand dries up as prices top Rs.20000
RBI divests 71.5% stake in NABARD
L&T Infra to issue bonds, raise Rs.700 crores from Infra bond issue
SENSEX- 20497.64
NIFTY-6177.35
DHARA TRIVEDI
DINESH GARG
FOZIYA SIDDIQUEE
GROUP8
SECTION H
TOP STORY
CLOSING CEREMONY OF XIX COMMONWEALTH GAMES
Total medals won by india are 101 including 38 gold medals
australia topped with total of 177 medals including 74 gold medals
saina nehwal won gold in badminton singles final and helped india getting 2nd place leaving england behind
CWG ended with high-tech laser show and fireworks at jawahar lal nehru stadium in new delhi, succesfully.
OFFER FOR YAHOO
AOL(American Online) Inc., and several private equity(PE) firms are exploring making an offer to buy yahoo Inc.
Silver Lake partners and Blackstone groups are PE companies intersted in teaming up with AOL to buy yahoo. Discussion yet does not involve yahoo
Yahoo AOL combination could effectively compete in online advertisement against google Inc
Yahoo is facing competition and display advertisement and lacks behind facebook.
OSTEOPOROSIS DRUGS LINKED TO FRACTURE
US drug regulator warned doctors and patients that drug known as biophosphonates can cause bone fracture( like fosamax and boniva)
FDA(food and drug administration) asked US manufacturer to include warning about this side effect but there is no word from indian drug authorities about this.
Indian companies selling this drug are Elder Pharmaceuticals, Sun pharmaceuticals, Nacto pharma and Ranbaxy ltd
MARKET
COAL INDIA LTD. IS OPENING ITS IPO FROM 18TH OCTOBER TO 21ST OCTOBER
it is expected that foreign investors are likely to invest more on this IPO
stock market is expected to rise because of this IPO
the price is expected from rs.225-245 per share with 5% dicount fot retail investors and employees
CIL had seen profits at growth rate of 33.7% between 2007 and 2010 led mainly by volume expansion.
AXIS BANK LENDING GROWTH TO SLOW FURTHER IN THE QUARTERS AHEAD
loans outstanding increase by only 1.8% between 30th june to 30th sept
only loans to large company showed somegrowth over the period while loans to small & medium enterprise remained nearly same
the net result in september quarter has been much lower growth in operating profit
operating profit was 13.8% in september as compared with 23.3% in june
COMMERCIALIZATION
ADVERTISERS FUME AS COLORS IS BLACKED OUT OVER BIGG BOSS
Controversy is opposition party shiv senna had asked cable operators to take the channel off air until it removes 2 pakistani participants from Big Boss show.
Advertisers may claim compensation from viacom 18 that has been blacked out in parts of mumbai.
CURRENT INDIAN MARKET SCENARIO
GOLD demand dries up as prices top Rs.20000
RBI divests 71.5% stake in NABARD
L&T Infra to issue bonds, raise Rs.700 crores from Infra bond issue
SENSEX- 20497.64
NIFTY-6177.35
Business Standard - 15th October
Submitted By:-
Hitesh kr. Sharma
Inna Mathur
Jasleena Singh
(GR. 8 Sec- G)
Honda Motor prepares to exit Hero Honda
• The proposal was made by the Munjals to Honda Motor.
• Honda has decided to shed its premium tag and has plans to be in the low cost bike segment.
• The company plans to retail this bike in emerging markets such as China and India.
• Starting with a motorcycle costing just 27,000.
• Although Hero Honda and Bajaj Auto have said they were trying to develop one for 15,000-20,000.
GSK (world’s second largest drug maker, GlaxoSmithKline) TO MAKE INDIAA HUB FOR ANTI-PARASITE DRUGS
• GSK supplies about 600 millions tablets a year
• India produces half of these pills while the rest comes from GSK’s factory at Cape Town in South Africa.
• In March, Witty inaugurated a new albendazole manufacturing facility at Nashik in Maharashtra, at an investment of 1.5 crore to supply 300 million treatments a year.
OIL EYES TIE-UPS WITH OVERSEAS SHALE GAS FIRMS
• Public sector Oil India Ltd (OIL) is looking for tie-ups with shale gas companies in the US, Poland and Australia.
• The company had earmarked 4,000 crore for international acquisitions this year, none has made so far.
• Private sector Reliance Industries (RIL) has, over the past five months, made three shale gas acreage acquisitions in the US.
• Bharat Petro Resources Ltd bought two exploration acreages of shale gas operated by Norwest Energy at Perth, Australia.
• In March this year Board of oil and natural gas corporation has approved a pilot project for exploration in Damodar Basin at 128 crore.
POWER CAPACITY GROWS 8.12 % IN AUGUST
• The installed capacity in the power sector stood at 165,000 Mw at the end of August, registering 8.12 % annual growth.
• Last year it was 4.4% in same month.
• In the nuclear segment, the installed capacity grew at 10.6%.
• The hydro segment turned out to be a laggard, with only 0.45% increase in installed capacity.
AXIS BANK NET PROFIT UP 38%
• Owing to strong growth in interest income, the country’s third largest private sector lender reported a net profit of 735.14 crore for the second quarter of this financial year.
• Net interest income (NII), the difference between interest earned and interest expended, rose to 41%.
• Income from proprietary trades fell to 52% and pushing down the share of trading profits in operating revenue from 10 % to 4%.
• Net interest margin (NIM) is 3.68% which is better than year ago quarter but flat than first quarter.
RBI Intervenes to stem unabated rise in rupee
• According to forex traders - RBI by buying the foreign exchange at rupee 44.10 nudged the rupee down from a 25 month high to 44.25.
• Total market interventions became $1.5 – 2 billion by the oil companies buying the dollars worth over one billion.
• But because of foreign inflows rupee closed at 44.12 against the dollar.
• It is expected that the rupee will rise to 43.50 in coming weeks and touch 44 near December.
• Coal India’s `15000-crore IPO is expected to attract billions of dollars from foreign investors and in-turn create a liquidity shortage with an expected outflow of ` 11000 Crore for IPO.
• Rupee opened at 44.25 after closing yesterday at 44.52.
MFI Governance issue under Lenders lens
• SKS stung by the controversy over the sudden sacking of the MD at India’s largest Micro finance institution lenders have decided to raise corporate governance issue at board meeting.
• It was confirmed by an official of SIDBI that corporate governance issue will be raised.
• SKS recently terminated the services of MD and CEO Mr. Suresh Gurumani without any specific reason.
• Banks have jointly floated lenders quorum and its coordination is tasked to SIDBI under terms of 300 million dollar World Bank Loan.
• Objective of credit line to SIDBI is to scale up access to sustainable microfinance services and foster transparency.
• Ethical field practices will receive equal attention.
• Audit agencies have been appointed to examine the loan books of larger MFI’s and more institution will be covered in phases.
• One of the leading PE player said a recent development in the industry could affect the flow of funds.
• PE’s are also concerned about the Finance ministry’s decision to ask banks to cap the interest rates charged by MFI’s.
• Ministry wants to ensure that MFI’s do not charge more than 24% interest from borrowers who have taken bank financing.
• MFI’s mainly operate through middle men and they charge on an average 24-28% interest from these borrowers and they pay these middle men 3-4% commission.
Cabinet may clear AI’s `12,00 –CR Equity Infusion
• NACIL which runs Air India is likely to receive government approval for its second equity infusion of `1,200- CR by next week.
• Higher official mentioned that equity infusion will be taken up by the cabinet in its meeting next week and is likely to be cleared.
• The infusion will increase the base of the airline to `2145 – CR from `945 CR at present.
• Civil aviation ministry feels these infusions of a relatively smaller amount could not be of much help. They would need an infusion of at least `6,000 CR in one go to come out of the red.
• Air India has accumulated losses of `12,000 Cr and is expected to make an operational profit at end of financial year.
• Airline is also looking at launching a domestic low cost carrier under Air India express brand to boost its market share.
• Air India expresses the low cost subsidiary of Air India which flies mainly to West Asian countries.
Hitesh kr. Sharma
Inna Mathur
Jasleena Singh
(GR. 8 Sec- G)
Honda Motor prepares to exit Hero Honda
• The proposal was made by the Munjals to Honda Motor.
• Honda has decided to shed its premium tag and has plans to be in the low cost bike segment.
• The company plans to retail this bike in emerging markets such as China and India.
• Starting with a motorcycle costing just 27,000.
• Although Hero Honda and Bajaj Auto have said they were trying to develop one for 15,000-20,000.
GSK (world’s second largest drug maker, GlaxoSmithKline) TO MAKE INDIAA HUB FOR ANTI-PARASITE DRUGS
• GSK supplies about 600 millions tablets a year
• India produces half of these pills while the rest comes from GSK’s factory at Cape Town in South Africa.
• In March, Witty inaugurated a new albendazole manufacturing facility at Nashik in Maharashtra, at an investment of 1.5 crore to supply 300 million treatments a year.
OIL EYES TIE-UPS WITH OVERSEAS SHALE GAS FIRMS
• Public sector Oil India Ltd (OIL) is looking for tie-ups with shale gas companies in the US, Poland and Australia.
• The company had earmarked 4,000 crore for international acquisitions this year, none has made so far.
• Private sector Reliance Industries (RIL) has, over the past five months, made three shale gas acreage acquisitions in the US.
• Bharat Petro Resources Ltd bought two exploration acreages of shale gas operated by Norwest Energy at Perth, Australia.
• In March this year Board of oil and natural gas corporation has approved a pilot project for exploration in Damodar Basin at 128 crore.
POWER CAPACITY GROWS 8.12 % IN AUGUST
• The installed capacity in the power sector stood at 165,000 Mw at the end of August, registering 8.12 % annual growth.
• Last year it was 4.4% in same month.
• In the nuclear segment, the installed capacity grew at 10.6%.
• The hydro segment turned out to be a laggard, with only 0.45% increase in installed capacity.
AXIS BANK NET PROFIT UP 38%
• Owing to strong growth in interest income, the country’s third largest private sector lender reported a net profit of 735.14 crore for the second quarter of this financial year.
• Net interest income (NII), the difference between interest earned and interest expended, rose to 41%.
• Income from proprietary trades fell to 52% and pushing down the share of trading profits in operating revenue from 10 % to 4%.
• Net interest margin (NIM) is 3.68% which is better than year ago quarter but flat than first quarter.
RBI Intervenes to stem unabated rise in rupee
• According to forex traders - RBI by buying the foreign exchange at rupee 44.10 nudged the rupee down from a 25 month high to 44.25.
• Total market interventions became $1.5 – 2 billion by the oil companies buying the dollars worth over one billion.
• But because of foreign inflows rupee closed at 44.12 against the dollar.
• It is expected that the rupee will rise to 43.50 in coming weeks and touch 44 near December.
• Coal India’s `15000-crore IPO is expected to attract billions of dollars from foreign investors and in-turn create a liquidity shortage with an expected outflow of ` 11000 Crore for IPO.
• Rupee opened at 44.25 after closing yesterday at 44.52.
MFI Governance issue under Lenders lens
• SKS stung by the controversy over the sudden sacking of the MD at India’s largest Micro finance institution lenders have decided to raise corporate governance issue at board meeting.
• It was confirmed by an official of SIDBI that corporate governance issue will be raised.
• SKS recently terminated the services of MD and CEO Mr. Suresh Gurumani without any specific reason.
• Banks have jointly floated lenders quorum and its coordination is tasked to SIDBI under terms of 300 million dollar World Bank Loan.
• Objective of credit line to SIDBI is to scale up access to sustainable microfinance services and foster transparency.
• Ethical field practices will receive equal attention.
• Audit agencies have been appointed to examine the loan books of larger MFI’s and more institution will be covered in phases.
• One of the leading PE player said a recent development in the industry could affect the flow of funds.
• PE’s are also concerned about the Finance ministry’s decision to ask banks to cap the interest rates charged by MFI’s.
• Ministry wants to ensure that MFI’s do not charge more than 24% interest from borrowers who have taken bank financing.
• MFI’s mainly operate through middle men and they charge on an average 24-28% interest from these borrowers and they pay these middle men 3-4% commission.
Cabinet may clear AI’s `12,00 –CR Equity Infusion
• NACIL which runs Air India is likely to receive government approval for its second equity infusion of `1,200- CR by next week.
• Higher official mentioned that equity infusion will be taken up by the cabinet in its meeting next week and is likely to be cleared.
• The infusion will increase the base of the airline to `2145 – CR from `945 CR at present.
• Civil aviation ministry feels these infusions of a relatively smaller amount could not be of much help. They would need an infusion of at least `6,000 CR in one go to come out of the red.
• Air India has accumulated losses of `12,000 Cr and is expected to make an operational profit at end of financial year.
• Airline is also looking at launching a domestic low cost carrier under Air India express brand to boost its market share.
• Air India expresses the low cost subsidiary of Air India which flies mainly to West Asian countries.
The Hindu - 15th October
Submitted by:-
Jasmeen arora
Khushboo sharma
Joginder singh
Section E
General news :-1.closing ceremony of common wealth games 2010 in jawaharlal nehru stadium in new delhi. With 38 golds,india took the 2nd place ,edging past england.australia finished on top with 74 golds.
2.11 high court judges are being shifted by president pratibha patil in the public interst on the recommendations made by supreme court and the judges have been asked to assume office within 15 days.
3.congress mp r.c.khuntia, grilled at patna airport for carrying 12.5 lakh in cash.he was questioned and later was allowed to take the flight after he told that he was carrying money as a part of “party funds” from patna to new delhi.
4.all india congress committee general secretary rahul gandhi in the election rally katihar lashed out at bihar chief minister nitish kumar for his alleged double speak on the issue of secularism.
5.john abraham was sentenced to 15 day imprisonment in a 2006 accident case but was immediately released on abail of rs 1500.
International news:-
1.a former afghan president who heads a new peace council said that he is convinced the taliban is ready to negotitate peace.
2.speakers at panel discussion on “india’s strategic perspective in the 21st century” felt that new delhi had no clear cut policy towards beijing and it was time the worlds second most populous country developed a strategy.
Business/ markets:-
1.the rupee touched a nearly 25 months high against the us$ closed at 44.10/11 against 44.51/52.
2.reserve bank of india has sold almost all its holding in the national bank for agriculture and rural development(nabard).the rbi has divested its stake of rs1430 crore and with this rbi’s holding in nabard has come down to 1% of share holding in the bank .
3.hyundai motor india limited has launched its sport utility vehicle ,santa fe priced between rs20.59lakh and rs 22.95 lakh in jodhpur.equipped with advanced technology, this car will be available in 6 speed manual transmission.
4.bombay stock exchange benchmark index sensex slumped by 190 points .
Sports:-
1.sachin tendulkar was the highest run getter with 403 runs,getting 891 points in the two match series ,which india won 2-0 .virendra sehwag is the next best indian at no.3 with 819 points .
2.world champion viswanathan anand missed out on his chances and had settle to draw with alexei shirov of spain in the fourth round of the bilbao final masters chess tournament here.
3.the cricket community has given the mix reaction to icc’s threat to impose sanction on the pcb if it does not it’s governance to clean up the sports .
Common wealth games 2010
1.in common wealth game india finished second in medal tally
Country g s b t
1.australia 74 55 48 177
2.india 38 27 36 101
3.england 37 59 46 142
Thus india ,gave blistering start and a great finish reflecting the country’s success.
2.in hockey india losing against australia in final by 8-0.
3.new zealand won the common wealth games net ball gold defeating australia 66-64 in a hard fought final .
4.the closing ceremony was made lively by the performance of some of india’s most talented singers named shaan, usha uthup,shankar mahadevan and shyamak davar.
Jasmeen arora
Khushboo sharma
Joginder singh
Section E
General news :-1.closing ceremony of common wealth games 2010 in jawaharlal nehru stadium in new delhi. With 38 golds,india took the 2nd place ,edging past england.australia finished on top with 74 golds.
2.11 high court judges are being shifted by president pratibha patil in the public interst on the recommendations made by supreme court and the judges have been asked to assume office within 15 days.
3.congress mp r.c.khuntia, grilled at patna airport for carrying 12.5 lakh in cash.he was questioned and later was allowed to take the flight after he told that he was carrying money as a part of “party funds” from patna to new delhi.
4.all india congress committee general secretary rahul gandhi in the election rally katihar lashed out at bihar chief minister nitish kumar for his alleged double speak on the issue of secularism.
5.john abraham was sentenced to 15 day imprisonment in a 2006 accident case but was immediately released on abail of rs 1500.
International news:-
1.a former afghan president who heads a new peace council said that he is convinced the taliban is ready to negotitate peace.
2.speakers at panel discussion on “india’s strategic perspective in the 21st century” felt that new delhi had no clear cut policy towards beijing and it was time the worlds second most populous country developed a strategy.
Business/ markets:-
1.the rupee touched a nearly 25 months high against the us$ closed at 44.10/11 against 44.51/52.
2.reserve bank of india has sold almost all its holding in the national bank for agriculture and rural development(nabard).the rbi has divested its stake of rs1430 crore and with this rbi’s holding in nabard has come down to 1% of share holding in the bank .
3.hyundai motor india limited has launched its sport utility vehicle ,santa fe priced between rs20.59lakh and rs 22.95 lakh in jodhpur.equipped with advanced technology, this car will be available in 6 speed manual transmission.
4.bombay stock exchange benchmark index sensex slumped by 190 points .
Sports:-
1.sachin tendulkar was the highest run getter with 403 runs,getting 891 points in the two match series ,which india won 2-0 .virendra sehwag is the next best indian at no.3 with 819 points .
2.world champion viswanathan anand missed out on his chances and had settle to draw with alexei shirov of spain in the fourth round of the bilbao final masters chess tournament here.
3.the cricket community has given the mix reaction to icc’s threat to impose sanction on the pcb if it does not it’s governance to clean up the sports .
Common wealth games 2010
1.in common wealth game india finished second in medal tally
Country g s b t
1.australia 74 55 48 177
2.india 38 27 36 101
3.england 37 59 46 142
Thus india ,gave blistering start and a great finish reflecting the country’s success.
2.in hockey india losing against australia in final by 8-0.
3.new zealand won the common wealth games net ball gold defeating australia 66-64 in a hard fought final .
4.the closing ceremony was made lively by the performance of some of india’s most talented singers named shaan, usha uthup,shankar mahadevan and shyamak davar.
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