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GM in pact with Reva for producing electric vehicles
US-based car maker General Motors today joined hands with Reva Electric Car Company to develop and produce electric vehicles in the Indian market as part of its plan to make the country a global hub for environment friendly vehicles.

V V: Correcting the fault lines of capitalism
In the long run,” John Maynard Keynes had famously said, “we are all dead.” Keynes may not have been quite dead, but he had lived a ghostly half-life in the corridors of central banks and within the academia for decades. Now with the failures of unbridled capitalism on a global scale, he is back in fashion, along with Marx. John Cassidy, the finance correspondent for the New Yorker has come with How Markets Fail: The Logic of Economic Calamities (Allen Lane/Penguin £25), which draws heavily on Keynes to recount the story of America’s housing boom and the failures of regulators and self-deception of bankers that led to the present financial crisis. The book is a sequel to Cassidy’s earlier book DotCon that dealt with the stupidities of the stock market bubble in the late 1990s, but both deal with one central idea: the belief that society is best served when individuals are left free to pursue their self-interest was “Utopian economics” and led to disaster because of “the crooked timber of humanity”, and the uncertainty that is inherent in any human enterprise.

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Maha polls begin amid tight security
Amid high security, polling began this morning to elect the 288-member Maharashtra Legislative Assembly.
International Business

Sensex gains 186pts on F&O expiry

After yesterday"s massive 520 points rally, the Sensex today opened on a flat note. It slipped into the negative zone for a while and touched a low of 14,078. - JSW Steel gains 6% on fund raising plan - India Infoline allots ESOS; stock slips 2.5% - L&T adds 2% on good Q4 numbers - Britannia falls 3% on dip in FY09 net - Sensex ends 147pts higher at 14,256 - Sensex near day"s high; up 255pts However, it rebounded into the positive and continued to move sideways, as investors covered short positions on expiry of derivatives segments. The index surged to a high of 14,377 on some buying in the metal, realty and the banking stocks. The Sensex finally ended 186 points higher at 14,296. Metal index added 3% at 10,550. Bankex and Realty were up 2% each at 8,163 and 3,577, respectively. The market breadth was positive, out of 2,812 shares traded, 1,736 advanced, 1,022 declined and 54 were unchanged today. INDEX MOVERS... Ranbaxy soared 4.2% to Rs 273. Sterlite and Bharti Airtel added over 3.5% each at Rs 612 and Rs 795, respectively. NTPC, Tata Steel, ICICI Bank,Tata Steel and Maruti gained over 2.5% each at Rs 207, Rs 384, Rs 729, Rs 384 and Rs 998, respectively. Larsen &Toubro, TCS, Mahindra & Mahindra, SBI, ONGC and HDFC Bank were up over 2% each at Rs 1,342, Rs 660, Rs 634, Rs 1,829, Rs 1,131 and Rs 1,436, respectively. BHEL, DLF, ACC and Reliance aaded 1-2% each. ...AND THE SHAKERS Tata Motors dropped 3% to Rs 332. Grasim and Wipro slipped 2.5% each to Rs 2,184 and Rs 364, respectively. Reliance Infrastructure and Reliance Communication were the other losers. OTHER PROMINENT GAINERS... Indiabulls Real Estate zoomed 10% to Rs 225. NMDC ,Allahabad Bank, Century Textiles, Rei Agro, GTL Infrastructure ,Steel Authority of India, JSW Steel, Bharat Forge, LIC Housing Finance, Godrej, Great Eastern Shipping Company, Marico, Jai Corp gained 6-10% each. ...AND THE LOSERS Biacon and Glenmark Pharma slipped over 5% to Rs 183 and Rs 234, respectively. Mangalore Refinery & Petrochemicals, Pantaloons Retail, Rashtriya Chemicals & Fertilizers, Tech Mahindra, MTNL, Bharat Electronics , Opto Circuit, Corporation Bank and Gujarat Mineral Development Corporation declined 3-5% each. VALUE & VOLUME TOPPERS Reliance Capital topped the value chart with a turnover of Rs 336.47 crore. It was followed by Reliance (Rs 227.79 crore), DLF (Rs 220.73 crore), ICICI Bank (Rs 218.54 crore) and Indiabulls Real Estate(Rs 212.55 crore). The volume chart was led by Cals Refineries with over 162.27 million shares traded, followed by Ispat (121.25 million), KS Oils ( 18.35 million), Alok Industries (17 million) and Unitech (16.4 million).


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