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Asian markets mostly up; Nikkei down 83pts (Business Standard 27th Dec 2007)The Hang Seng has moved up 58 points to 28,187. The Shanghai Composite index has gained 28 points at 5261. More
FIIs' net buys Rs 845cr in F&O on Wednesday (Business Standard 27th Dec 2007)
The Foreign Institutional Investors (FIIs) were net buyers to the tune of Rs 844.89 crore in the futures & options segment on Wednesday. More
Dow ends flat; ADRs shine (Business Standard 27th Dec 2007)The Wall Street ended on a flat note yesterday. The Dow Jones industrial average was up two points at 13,552. The Nasdaq moved up 11 points to 2724.Indian ADRs ended on a firm note. More
Oil holds firm below $96 (The Economic Times 27th Dec 2007)Oil held steady just below $96 a barrel on Thursday after a three-day rally, as traders awaited a sixth-weeekly decline in U.S. crude inventories and attached a bigger supply-risk premium to Turkish bombing in northern Iraq. More
Rupee opens flat (The Economic Times 27th Dec 2007) The rupee was little changed in early deals against the dollar on Thursday, with trading interest limited as the end of the year neared. At 9:17 a.m, the partially convertible rupee was at 39.42/43 per dollar, steady with Wednesday's close. More

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Jyoti Structures bags Rs 253 cr worth orders

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Company News

ITI Ltd seeks Rs2,000 crore aid from government (Live mint.com 26th Dec 2007) The funds are being sought to wipe out accumulated losses of Rs2,225 crore and to obtain working capital for telecom equipment manufacturing. According to a company official who did not wish to be named, a committee has been set up by the Centre to finalize the package. More

Inflation hits 42-week high of 7.57%

Inflation rose to a 42-week high of 7.57 per cent in the 12 months to April 19, higher than the previous week’s annual rise of 7.33 per cent, largely on account of an increase in food, metal products and industrial fuel prices, official data showed. Analysts said that the inflation of 7.57 per cent was “slightly higher” than their expectations and this could be due to price increase in tea and certain items in the steel group. India’s wholesale price index (WPI) based inflation now stood highest since November 13, 2004, when it was 7.68 per cent. Economists expressed confidence that the recent fiscal and monetary measures would yield results in the coming weeks. They, however, noted that inflation was unlikely to return to the comfort zone of the Reserve Bank of India any time this fiscal. “There could be some easing of food inflation given the good wheat production and likelihood of good monsoon. I see some temporary relief on food side. But commodities are tough to predict. The infla...