Business News – Newsletter for December 15, 2010
Wednesday, December 15, 2010
91 day Treasury Bills : Auction Result
Date of Auction : December 15, 2010
I.
Notified Amount
` 2000.00 crore
II.
Underwriting notified amount
N.A.
III.
Competitive Bids received
(i)
Number
89
(ii)
Amount
` 7406.25 crore
IV.
Cut-off price
` 98.24 (YTM is 7.1858%)
V.
Competitive bids accepted
(i)
Number
42
(ii)
Amount
` 2000.00 crore
VI.
Partial Allotment Percentage of Comp. Bids
13.49 (15 Bids)
VII.
Weighted Average Price
` 98.25
VIII.
Non-competitive bids received
(i)
Number
2
(ii)
Amount
` 3000.00 …. Source : 91 day Treasury Bills : Auction Result.
364 day Treasury Bills : Auction Result
Date of Auction : December 15, 2010
I.
Notified Amount
` 1000.00 crore
II.
Underwriting notified amount
N.A.
III.
Competitive Bids received
(i)
Number
52
(ii)
Amount
` 4772.00 crore
IV.
Cut-off price
` 93.18 (YTM is 7.3393%)
V.
Competitive bids accepted
(i)
Number
12
(ii)
Amount
` 1000.00 crore
VI.
Partial Allotment Percentage of Comp. Bids
60.61 (4 Bids)
VII.
Weighted Average Price
` 93.20
VIII.
Non-competitive bids received
(i)
Number
Nil
(ii)
Amount
Nil
IX.
Non-competitive bids accepted
(i)
Number
Nil
(ii)
Amount
Nil
(iii)
Partial Allotment Percentage
Nil
Ajit … Read more >>.
Sensex slips to day’s low
MUMBAI – A benchmark index of Indian equities slipped to its day’s low about 45 minutes before the closing bell as selling intensified in realty and banking stocks and spread across the market.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,791.22 points, was ruling at 19,596.63 – down … Read more »»».
‘China has high expectations from Premier Wen’s India visit’
NEW DELHI – A top Chinese official says Beijing has high expectations and attaches significant importance to the three-day India visit of Premier Wen Jiabao, who arrived here Wednesday with top officials and 400-strong team of business leaders.
“China-India relations are significant. The leaders of both nations agree the world has enough space for the …. Original article : ‘China has high expectations from Premier Wen’s India visit’.
Polo prices up by 2.9 percent from Jan 1
MUMBAI – German automobile major Volkswagen’s Indian subsidiary Wednesday said it would increase the price of its popular selling hatchback car model Polo by 2.9 percent from Jan 1, 2011.
According to the company, the hike in prices comes as the car manufacturer was facing a rise in input cost like components in the past … Read this article on Gaea Times at : Polo prices up by 2.9 percent from Jan 1.
TAPI pipeline to India could be pipedream: Pakistani daily
ISLAMABAD – The Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline “could remain a pipedream for years”, a leading Pakistani daily said Wednesday while admitting that it was “a good project – on paper”.
An editorial in Dawn Wednesday said: “TAPI could remain a pipedream for years, for it is linked to a final peace settlement in Afghanistan and … Read more >>>.
Bihar to generate additional 3,960 MW of power
PATNA – Power-starved Bihar is to set up three new thermal power plants to generate 3,960 MW of energy, an official said Wednesday.
The plants, of 1,320 MW each, will be set up at Kajra in Lakhisarai, Piparpainti in Bhagalpur and Chusa in Buxar districts, an energy department official said.
While the state has … Read : Bihar to generate additional 3,960 MW of power.
Sensex down 73 points in afternoon trade
MUMBAI – A benchmark index of Indian equities was ruling weak in afternoon trade Wednesday. Broader markets too saw some selling amid dull cues from other Asian bourses.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,791.22 points, was ruling at 19,725.97 – down 73.22 points or 0.37 …. Read the original article : here.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on December 15, 2010 are :
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction (Sale of securities by RBI)
1 day Repo Auction
… Read more : Liquidity Adjustment Facility : Auction Results.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.32 and the Reference Rate for Euro is ` 60.27 on December 15, 2010. The corresponding rates for the previous day (December 14, 2010) were ` 45.01 and ` 60.31 respectively. Based on the Reference Rate for US …. Original article : RBI Reference Rate for US $ and Euro.
Fiat to build $1.7 bn car factory in Brazil
Rio de Janeiro, Dec 15 (IANS/EFE) Fiat SpA has announced that it plans to invest 3 billion reais ($1.7 billion) to build a second plant in Brazil, the carmaker’s No. 2 market after its native Italy.
The new factory will be located in the industrial complex in Suape, a port in the northeastern state of …. Original article : Fiat to build $1.7 bn car factory in Brazil.
Ecopetrol makes new oil find in Colombia
Bogota, Dec 15 (IANS/EFE) State-owned Empresa Colombiana de Petroleos, or Ecopetrol, said it found oil at a new well in central Colombia, raising the number of new petroleum discoveries this year to seven.
The well is located in Meta province and is included in the Cao Sur exploration and production contract, the company said in … Read more >>>.
IMF likely to expand credit line for Mexico
Mexico City, Dec 15 (IANS/EFE) The International Monetary Fund (IMF) is likely to approve Mexico’s request to increase to $73 billion the flexible credit line the institution created last year for Latin America’s No. 2 economy, IMF Managing Director Dominique Strauss-Kahn said here Tuesday.
The matter will be promptly taken up by the IMF executive …. Original source : IMF likely to expand credit line for Mexico.
Ministerial panel to decide diesel price hike Dec 22
NEW DELHI – A ministerial panel under Finance Minister Pranab Mukherjee meets here Dec 22 to take a call on allowing state-run fuel retailers to hike the prices of diesel, with crude oil now costing around $90 per barrel in global markets.
“As far as petrol prices are concerned, the government has already de-regulated this …. Source : Gaea News Network.
Tokyo shares edge lower on profit-taking
TOKYO – Japanese stocks inched down in Wednesday morning trading as investors sold shares to lock in profits a day after the Nikkei 225 Stock Average ended at a fresh seven-month high.
The benchmark Nikkei was down 3.81 points, or 0.04 percent, to 10,312.96 while the broader Topix index was down 0.16 points, or … Original source on Gaea Times at : Tokyo shares edge lower on profit-taking.
Money Market Operations as on December 14, 2010
… Read more »».
CBI raids Radia, Raja’s relatives
NEW DELHI – The Central Bureau of Investigation (CBI) Wednesday raided the homes and offices of business lobbyist Niira Radia and relatives of former telecom minister A. Raja in Tamil Nadu over the spectrum row.
CBI Deputy Inspector General of Police Vinita Thakur said the New Delhi premises of former Telecom Regulatory Authority of India …. Original article : CBI raids Radia, Raja’s relatives.
Morgan Stanley Removes Apple From Its Best Ideas List
Apple Inc as a corporation can do no wrong. Or that was the popular investor perception as the company’s stock value sky rocketed to more than 50% from the start of the year. Analysts have also predicated more growth by the end of the financial year. However On Tuesday Morgan Stanley has decided to …. Original article on Gaea Times at : Morgan Stanley Removes Apple From Its Best Ideas List.
AIG Share Prices Locked at 2 Years High After Chairman talks Acquisition
AIG have been looking up since the news that the Treasury was planning on selling of 92% shares of the troubled company first broke. In a slow but gradual process the badges have returned to a place of pride on their employees shirts now after the company is seemingly going off from the life …. Read the original article : AIG Share Prices Locked at 2 Years High After Chairman talks Acquisition.
Americans Shun 3D TV, Best Buy Shares Tumble 14.8%
Americans might be spending quite a lot on their holidays as we reported recently but now it seems that Best Buy had learned that the customers are not willing to pay for something which they feel is expensive at the moment. Its promotion of the expensive 3D televisions have been largely ignored. The buyers …. Read the original article : Americans Shun 3D TV, Best Buy Shares Tumble 14.8%.