India News

Sensex Story ---- The bears may have arrived late on Wednesday and Thursday, but on Friday they appeared to have formed a queue well before the bourses opened up for trading. They proved so relentless and consistent in hammering down blue chip stocks that the indices could never really wriggle out of trouble. Weak global markets offset a positive data from SEBI that revealed an inflow of over Rs 500 crore from FIIs on Wednesday. With the reporting season having come to an end, there were no significant positive inflow of news except for a few company specific stories. 
 

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The Ministry of Home Affairs has barred 8,673 voluntary organisations from seeking foreign funds under the Foreign Contribution and Regulation Act (FCRA).

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Jet Airways is planning to raise $800 million by issuing global depository receipts (GDRs)/American depository receipts (ADRs)/foreign currency convertible bonds (FCCBs).

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Building upon friendly relations with Philippines as reaffirmed in the visit of President A P J Abdul Kalam, India today signed three agreements in defence, tourism, agriculture and one MoU for supply of quality medicines at reduced prices.

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Transparency International estimated that petty corruption in India’s government hospitals in monetary terms amounts to about Rs 20.17 billion per year.

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Reliance Industries Ltd and Reliance Natural Resources Ltd have hammered out a gas supply agreement. Reliance Natural Resources is one of the entities that have come into existence following a split of the Reliance business empire between Ambani brothers Mukesh and Anil. 

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JK Lakshmi Cement, one of the leading companies of the JK Group, has drawn up a plan to spend Rs 200 crore in setting up a captive power plant. It also plans to improve the capacity of its plant in the Sirohi district of Rajasthan.

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In a rare 'no' to Washington, the Indian Navy has called off the leasing of two US Navy P-3C Orion maritime reconnaissance aircraft (MRA) on grounds they are too expensive.

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The Delhi Metro Rail Corporation may face a shortfall of nearly Rs 550 crore for its second phase as the Japan Bank for International Co-operation has approved only 48 per cent funding of the Rs 8,118 crore project against the 55 per cent proposed by the corporation.

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