Sensex up 64pts on reform hopes

Nov 22 2012, 09:56 IST
Comments 0
Sensex rose by almost 64 points in early trade today on sustained buying by funds and retailers.  (Reuters) Sensex rose by almost 64 points in early trade today on sustained buying by funds and retailers. (Reuters)
SummarySensex rose by almost 64 points in early trade today on sustained buying by funds and retailers.

against the suggestion of most external members of an advisory panel to keep the key repo rate steady on Oct. 30, minutes of the quarterly meeting released on Wednesday showed.

Finance Minister P Chidambaram has asked banks to lend a helping hand to builders, particularly those involved in construction of residential properties, in order to revive

faltering economic growth.

Remittance inflows into India is expected to increase to $70 billion in 2012, according to a World Bank report on global migration and remittances released on Wednesday.


The oil ministry said the government is not considering any proposal to revise price for natural gas produced from Reliance Industries' KG-D6 block before 2014.

Bharat Forge America, the U.S. subsidiary of Bharat Forge is in the final stage of either shutting down the operations or an imminent sale.

Reliance Infrastructure, Tata Power and Crompton Greaves have placed bids to partner with state-run NTPC in its foray into electricity distribution, a senior official at NTPC said.

The government will initiate action against nine companies that have been booked by the Central Bureau of Investigation for misrepresentation of facts to win coal mining licences, a senior ministry official said.


GMR Infrastructure is in talks with some large companies to sell 51-74 percent stake in three operating toll road projects as part of its plan to unlock value and lower its debt, according to a senior company official close to the development.

DuPont, the diversified US industrial group, is hoping to be a billion-dollar company by sales in India by the end of 2012, said Rajeev Vaidya, president of Dupon'ts South Asia operations.


A panel of ministers is understood to have finalized a fresh pricing mechanism, which will lead to a sharper reduction in drug prices.

Sources said that the new formula will take into account "the simple average method" for determining the ceiling price of all the molecules for drugs under a particular area versus the "weighted average" method cleared in September by a panel.

Cipla appointed Subhanu Saxena as Chief Executive Officer. Saxena has been with Novartis AG, where he led the Global Product Strategy and Commercialization function, a position he has held for three years.


The government will shortly clear a three-way partnership between Russia's NIS Glonass, BSNL and MTNL to deliver satellite-based navigation services in India, top officials in the telecom department said.


The government, while clearing Swedish furniture and IKEA's application to

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...