Sensex ends 75 pts up; auto, pharma rally, Hindalco up 5%

15:56

Indian equity benchmarks gained strength in late trade with the NSE Nifty closing above the 5600 level on Wednesday, helped by banking & financials, auto, technology and healthcare shares.
The 30-share BSE Sensex bounced back following 205 points fall yesterday after RBI policy; gained 74.53 points to close at 18,505.38.

Meanwhile, the 50-share NSE Nifty rose 21.80 points to 5,619.70.

But the benchmarks shed 1.4 percent in October owing to rising inflation, unchanged in policy rates, raising provision limit for banks and disappointing earnings. The profit booking was another reason behind this fall because the market had rallied over 6 percent in September following reforms by the government and inflow of foreign money after unlimited bond buying plans unveiled by Federal Reserve & ECB.

Going forward, US elections that will be taking place on November 6 and winter parliament session will be closely watched by investors next month.

If the government continues its reform process, founder of Citrus Advisor, Sanjay Sinha feels the market should see actually going up even higher from the current levels.

"Only setback that I see is the winter session of the Parliament where some of the policy measures that have been announced would be put to test of the voting. If there is fair amount of obstruction then there could be some amount for disappointment or some retracement. Otherwise I think there is a clear ground now for the market to go up even more," he explained.

Shares of Hindalco Industries, an aluminium major, shot up 5 percent, topping the buying list after the Essar Energy (a subsidiary of London listed Essar Energy plc) has secured stage 1 forest clearance for Mahan coal block (a joint venture between Essar Energy and Hindalco).

Auto stocks remained in bull grip since opening today as these companies will declare their sales numbers for October tomorrow. Commercial vehicle maker Tata Motors and top car maker Maruti Suzuki gained 3 percent on upgrade by brokerages.

India's largest lender State Bank of India was up 1.7 percent while its rival ICICI Bank rose 0.5 percent on short covering. Housing finance company HDFC went up 1.4 percent.

Drug producer Dr Reddy's Labs spiked 2 percent, which had gained 1.6 percent yesterday due to strong numbers in Q2. Shares of Cipla and Sun Pharma moved up 2.5 percent and 1.7 percent, respectively.

State-owned oil & gas producer ONGC and gas transmission company GAIL were down 1.7 percent each.

Power equipment maker BHEL fell 1.3 percent, continuing the fall since it disappointed the street by its numbers on every count in Q2.

FMCG major Hindustan Unilever went down 0.55 percent, extending the downward journey after poor volume growth in second quarter.

Cigarette major ITC and telecom operator Bharti Airtel lost 0.4 percent each. Engineering conglomerate Larsen & Toubro moved down 0.8 percent.

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Bihar CM orders removal of hoardings in Patna

Patna, Oct 31 (PTI) Criticised for the hoardings that have mushroomed in Bihar's capital announcing JD(U)'s 'Adhikar Rally,' Bihar Chief Minister Nitish Kumar today ordered removal of those around statues of great personalities. The Chief Minister, who garlanded the statue of Sardar Ballabh Bhai Patel on his 137th birth anniversary, ordered the district magistrate that the statues of great personalities should not be obstructed. The administration thereafter removed hoardings from three roundabouts where statues of Sardar Patel and Jayprakash Narayan are located. Patna District Magistrate Sanjay Kumar Singh told PTI that following instructions from the CM, he ordered removal of the hoardings put up by JD(U) leaders appealing to the people to attend the November 4 'Adhikar Rally'. Opposition parties have been criticising the government for the large number of hoardings coming up in the state capital for the rally. Though JD(U) and BJP are running a coalition government in Bihar, the November 4 rally is a solo show of Nitish Kumar's party, seen as an attempt to highlight the CM's popularity ahead of 2014 general elections. The NDA government has faced embarrassment after an FIR was lodged against jailed former JD(U) MLA Munna Shukla in Vaishali district for demanding Rs 2 crore from a private engineering college for the rally. RJD Secretary General Ramkripal Yadav, said "The CM has been seeing these hoardings for the past 15 days and has acted now only when RJD raised the issue prominently." Senior Congress leader Sadanand Singh described this as an "attempt to fool the people." PTI SNS PC AVT

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Anti-naxal ops: First NTRO station activated in Maoist hotbed

New Delhi, Oct 31 (PTI) The country's specialised snoop department, NTRO has set up its first base in a naxal hotbed in Chhattisgarh to monitor the movement of armed Maoist cadres and fly UAVs to help security forces to track them. This key project has been operationalised with the establishment of five satellite-linked terminal stations at a designated location in the state by the National Technical Research Organisation (NTRO) with the help of paramilitary CRPF, the lead anti-naxal force with more than 75,000 troops deployed for such tasks. Sources involved in the technical department of the base station said CRPF has now linked the operations of its ten Unmanned Aerial Vehicles (UAVs) with the new NTRO facility which will function round-the-clock. The NTRO station will act as a gateway for acquiring satellite data and pass them on to ground patrol parties. The UAVs can then be operated in specified areas. The centre also has the facility to analyse information about geographical features, weather, available troop reinforcements and logistics before the on-field commanders undertake an operation, they said. The facility, which is manned by NTRO-trained CRPF 'Signals' officials, will also share intelligence and geographical information with the NTRO headquarter in Delhi. "The activation of the five V-SAT terminals for NTRO is expected to provide an edge to security force operations in difficult terrains where Maoist ambushes and IED blasts are a major threat to the troops. The UAVs can be given real time satellite information through the centre," the sources said. PTI NES SC

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Smokers miss work more often, cost UK billions: study

Smokers miss an average of two or three more days of work each year than non-smokers, with this absenteeism costing the UK alone 1.4 billion pounds - or USD 2.25 million - last year, according to a UK study.

The report, which appeared in the journal Addiction, analysed 29 separate studies conducted between 1960 and 2011 in Europe, Australia and New Zealand, the United States and Japan, with a total of over 71,000 public and private sector workers.

Researchers asked the workers about their current and former smoking habits and used surveys or medical and employee records to track how often they were absent over an average of two years.

Current smokers were 33 percent more likely to miss work than non-smokers, and they were absent an average of 2.7 extra days per year, according to Jo Leonardi-Bee of the University of Nottingham, UK, and her colleagues.

The researchers calculated that current smokers were still 19 percent more likely to miss work than ex-smokers, so encouraging smokers to quit could help reverse some of the lost-work trends.

"Quitting smoking appears to reduce absenteeism and result in substantial cost-savings for employers," wrote Leonardi-Bee and her colleagues.

The 1.4 billion pounds lost in the UK due to smoking-related absenteeism is only one cost of smoking in the workplace, according to Leonardi-Bee and her colleagues. Others include productivity lost to smoking breaks and the cost of cigarette, related fire damage.

In the analysis, smoking was tied to workers' short-term absences as well as leaves of four weeks or more.

"Clearly the most important message for any individual's health is, 'Quit smoking,' but I think that message is pretty well out there," said Douglas Levy, a tobacco and public health researcher from the Harvard Medical School in Boston who wasn't a part of the study.

"I think (the study) does point to the fact that this is something that doesn't just affect the individual, it affects the economy as well."

Levy's own research has shown that children living with smokers are more likely to be absent from school. Secondhand smoke has been tied to a range of health ailments, from asthma to heart attacks, so employees who light up may also have to miss work more often to stay at home with sick family members.

Levy said the most important finding was the reduction in absenteeism after workers quit smoking, supporting the idea of companies funding smoking-cessation classes and other workplace health programs.

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Rupee falls to 5-week low, pressure back on Fin Min

The rupee fell to a new five-week low on Tuesday after the RBI kept interest rates unchanged, shifting the pressure on the government to take additional steps to revive growth and contain the fiscal deficit.

The disappointment over the Reserve Bank of India decision to keep the repo rate on hold at 8% was compounded after the central bank signalled no further policy easing would take place until the January-March quarter of next year.

The central bank also cut its baseline economic growth forecast for the fiscal year to 5.8% from 6.5%, while raising its estimate for wholesale price inflation to 7.5% from 7%.

The RBI's decision comes despite increased political pressure from the government, which last month unveiled a slew of fiscal and economic reforms, while Finance Minister P. Chidambaram on Monday pledged to contain the fiscal deficit.

"A combination of pushing rate easing further away, and expectations of higher inflation and slower growth, will weigh on sentiment," said Dariusz Kowalczyk, senior economist and strategist for Asia ex-Japan for Credit Agricole in Hong Kong.

"The forecasts also make it more difficult for the RBI to trust the government's fiscal target, and indeed the central bank suggested it will wait for proof of consolidation."

The partially convertible rupee was at 54.0525-54.0650 p er dollar, marginally higher versus its previous close of 54.08-54.09. It fell to a session low of 54.195, its lowest since September 21.

Falls in the rupee tracked declines in local shares, with the benchmark BSE index down 0.78%.

The lack of a rate cut from the central bank threatens to continue a period of consolidation for the rupee, which rallied to a monthly high of 51.32 on October 5, the highest since April, on the back of the government's fiscal and economic reforms.

Although few analysts expect the rupee to fall back towards the record low of 57.32 seen in late June, a lack of triggers could lead to range-bound trading until the end of the calendar year, they said.

"It will take improvement in data for the currency to see a sustained recovery, and for sentiment towards India to improve in a lasting way," said Kowalczyk, who has a year-end target for the rupee at 54.50.

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APM Industries board to consider interim dividend on Nov 12

APM Industries Ltd has informed BSE that a Meeting of the Board of Directors of the Company will be held on November 12, 2012, inter-alia, to consider and approve the Un-audited Financial Results for the Quarter and Half Year ended September30, 2012 and to consider interim dividend, if any, for the Financial Year 2012-2013.Source : BSE

Read all announcements in APM Industries

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Banks have room to adjust lending rates: RBI chief

MUMBAI (Reuters) - Indian banks can adjust their lending rates given the comfortable liquidity in the system, the Reserve Bank of India Governor Duvvuri Subbarao said on Tuesday.

Subbarao was speaking at the post-policy press conference after cutting banks' cash reserve ratio, or the share of deposits banks must maintain with the central bank as cash, by 25 basis points to 4.25 percent earlier in the day.

(Reporting by Neha Dasgupta; Editing by Prateek Chatterjee)

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Fear, mistrust grip Myanmar's volatile Rakhine region

By Martin Petty

SITTWE, Myanmar (Reuters) - As security forces police the edgy aftermath of sectarian bloodshed in western Myanmar, fearful Buddhists and Muslims are arming themselves with homemade weapons, testing the government's resolve to prevent a new wave of violence.

Despite government claims that peace has been restored, one Buddhist was shot dead and another wounded on Tuesday when security forces opened fire in Kyauknimaw on Ramree Island, according to official sources in the Rakhine State capital of Sittwe.

Hand grenades were thrown on Sunday night at two mosques in Karen State in the east of the country, domestic media reported, causing no casualties but raising fears of rising anti-Muslim sentiment elsewhere in Myanmar.

The violence between Buddhist Rakhines and Muslim Rohingyas has killed 84 people and wounded 129 since October 21, according to an official toll, in Myanmar's biggest test since a reformist government replaced a military junta 18 months ago.

"The government has reinforced security forces, both police and military, to all conflict areas," said Win Myaing, the Rakhine State spokesman. "If both parties follow the law, there won't be any conflict."

Surin Pitsuwan, secretary general of the 10-member Association of Southeast Asian Nations, of which Myanmar is a member, warned continuing violence could destabilise the region.

"This has larger and wider implications and we are all potentially affected," he said in an interview with Reuters in Kuala Lumpur. "I am calling the world to pay attention to this and to come around and try and resolve the problem."

Opposition leader Aung San Suu Kyi has disappointed supporters by failing to make a clear moral statement on the ongoing abuses. Her National League for Democracy (NLD) party has remained silent on the issue since releasing a brief statement on October 24. NLD leaders could not be reached for comment.

"WE'RE HERE TO PROTECT YOU"

The United Nations says more than 97 percent of the 28,108 people displaced are Muslims, mostly stateless Rohingya. Many now live in camps, adding to 75,000 mostly Rohingya displaced in June after a previous explosion of sectarian violence killed at least 80 people.

"Calm down! We're here to protect you," shouted an army major at Purein village in northern Rakhine State, where soldiers pleaded with Rohingyas to lay down their swords and machetes.

The Rohingyas said their homes were burned down a week ago by Rakhines armed with slingshots, wooden staves, knives and gasoline.

"Suddenly, we came under attack. Why? I was born here, my father was born here. This is our home," said Badu, the 50-year-old head of a Rohingya family of nine. "We got along before but there's nothing left. Where did all the anger come from?"

Rohingya women now sift the ashes for blackened nails for their men to build the bamboo frames of new homes.

"EVERYONE IS SCARED"

Both Rohingyas and Rakhines in Purein village say the attack was initiated by Buddhists outsiders who torched homes one morning and killed three people, including an elderly woman who was unable to flee. An overstretched military was unable to prevent retribution by Rohingyas.

"The Rohingyas came back to attack us and tried to burn down our village, but everyone had fled," said the Rakhine village leader, Kyaw Maw. "No Rakhines from this village were involved. I don't know who it was that first attacked them."

Kyaw Maw said the Rohingya community there had recently doubled, absorbing new settlers since the June violence, and took a larger share of the rice grown on land no one owned. The days of cordial ties, he said, were over.

"Everyone is scared of them now. We didn't attack them, but they think we are enemies. I want these Kalars to stay well away from us," he said, referring to Rohingyas by a term considered offensive in Myanmar.

Myanmar's Buddhist-majority government regards the estimated 800,000 Rohingyas in the country as illegal immigrants from Bangladesh and its laws deny them citizenship. Bangladesh has refused to grant Rohingyas refugee status since 1992. The United Nations calls them "virtually friendless in Myanmar".

"Most Rakhines follow the law," said state spokesman Win Myaing. "The Muslims don't. They want to bully the Rakhine in areas where they have more people."

The violence started in northern Rakhine State and spread south to the town of Kyaukpyu, an area crucial to China's energy investments in Myanmar, where satellite images show an entire Muslim quarter was razed by fires.

The shooting by security forces at Kyauknimaw on Tuesday took place near the spot where a Buddhist woman was raped and murdered, allegedly by Muslims, in May, which helped spark the sectarian violence that engulfed the state the following month.

"As you know, when security forces have to control the situation, there can be gunfire," said spokesman Win Myaing.

If keeping angry Buddhists and Muslims apart is proving hard, then reconciling them seems impossible. Purein is now a village divided. People who a week ago cultivated the same paddy fields now no longer cross a stream that separated the two communities. Few believe authorities will protect them.

"I don't know why this is happening," said a Rohingya man who called himself Pathon.

(Additional reporting by Reuters staff; Editing by Andrew R.C. Marshall and Robert Birsel)

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Court allows woman to sell house, co-owned by kids

New Delhi, Oct 29 (PTI) A woman facing financial crisis after death of her husband has been allowed by a Delhi court to sell her house here, co-owned by herself and her kids. Additional District Judge Alok Agarwal granted permission to the woman to sell the house, purchased jointly in her and her two kids' names, after she said she would purchase another property in Vadodara in Gujarat. The court also asked her to buy the Vadodara property in her and her children's names. "In these circumstances, the petition is allowed and petitioner (mother) is hereby granted permission to sell the property... for a consideration not less than Rs 20,00,000. "The permission is granted with a further condition that the property being purchased by the petitioner at Vadodara would be purchased in joint names of the petitioner and the two minor children...," the court said. The woman, a resident of Janakpuri here, had moved the court for its permission to sell the house saying that she, along with her minor son and daughter, had purchased it from the Delhi Development Authority (DDA) in 2006. She said she has purchased another flat in Vadodara in Gujarat for the welfare of her minor children but as she is facing financial crisis after her husband's death, she wants to sell her property here. The money received by selling the house here will be used to make payment of the already purchased house in Vadodara, she said, adding that she will also buy another property there in her and her children's names. (More) PTI ABA RAX

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Cong seeks state, Centre intervention in Haldia impasse

Mon, Oct 29, 2012 at 16:02

Cong seeks state, Centre intervention in Haldia impasse

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Cong seeks state, Centre intervention in Haldia impasse

Cong seeks state, Centre intervention in Haldia impasse

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Cong seeks state, Centre intervention in Haldia impasse

Cong seeks state, Centre intervention in Haldia impasse

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Kolkata, Oct 29 (PTI) West Bengal Pradesh Congress today demanded immediate intervention of the state government and the Centre to end the deadlock at the Haldia Dock. Congress leader Manas Bhuniya claimed the situation at the Haldia dock was deteriorating each day with the law and order situation there worsening. Three officials of the cargo handling company Haldia Bulk Terminals (HBT) were allegedly abducted yesterday by outsiders, who also threatened them to leave Haldia and asked them not to return. "The state government is mysteriously silent over the issue. There is administration and police. But no action is being taken. I urge the Chief Minister Mamata Banerjee to intervene immediately," Bhuniya told reporters here. He said that the Haldia Dock, a part of Kolkata Port Trust, was the only functioning port in West Bengal. "If its existence is in peril, the entire economy of the state will be shattered." Bhuniya said he would also send a note to the PMO and shipping minister G K Vasan asking for their intervention. The state should immediately convene a tripartite meeting on the issue, he said. The Congress leader also questioned the role played by the trustees of Kolkata Port Trust on this matter. PTI DC MD AVT

From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

The latest earning numbers FIRST on CNBC-TV18

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Airtel starts pre-orders of iPhone 5 with 16GB model priced at Rs 45,500

Mon, Oct 29, 2012 at 16:04

Airtel has put up a pre-order page for the flagship handset from Apple. The mobile carrier has listed the 16GB version of the handset, which is available for Rs 45,500.

Source: Tech2.com

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Airtel starts pre-orders of iPhone 5 with 16GB model priced at Rs 45,500

Airtel has put up a pre-order page for the flagship handset from Apple. The mobile carrier has listed the 16GB version of the handset, which is available for Rs 45,500.

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Airtel starts pre-orders of iPhone 5 with 16GB model priced at Rs 45,500

Airtel has put up a pre-order page for the flagship handset from Apple. The mobile carrier has listed the 16GB version of the handset, which is available for Rs 45,500.

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The iPhone 5 is being distributed in India through the carriers Aircel and Airtel. The former recently started teasing the iPhone 5 on its official page. Airtel too has put up a pre-order page for the flagship handset from Apple. The mobile carrier has listed the 16GB version of the handset, which is available for Rs 45,500. Only the black version of the iPhone 5 appears to be available yet and only in this capacity (16 GB). With the launch date scheduled for November 2, we can expect the carrier to list more variations. However, this may be subject to availability as the smartphone is facing supply issues.

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F1 2012 Review

It's that time of the year again. You know, when Codemasters serves up an...

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Major Greek daily reprints Swiss accounts list

By Karolina Tagaris

ATHENS (Reuters) - A major Greek newspaper reprinted the names of more than 2,000 wealthy Greeks with Swiss bank accounts on Monday and the editor who first published the list was to go on trial for violating data privacy laws.

Ta Nea devoted 10 pages to the list of accounts said to hold some 2 billion euros until 2007, a sum that riveted austerity-hit Greeks, angry at the privileges of politicians and an elite seen as having enriched themselves at the country's expense.

The list, given to Greece by French authorities in 2010, contains the names of 2,059 Greek account holders at HSBC in Switzerland to be probed for possible tax evasion.

It has been dubbed the "Lagarde List" after Christine Lagarde, the head of the International Monetary Fund who was the French finance minister when the list was handed over.

The centre-left daily said that despite publishing the same list released by the weekly magazine Hot Doc it was not leaping to any conclusions about "its content nor the connotations it evokes in a large part of the public."

It did not say why it had decided to reprint the list and stressed there was no evidence linking any one on the list to tax evasion.

Costas Vaxevanis, editor of "Hot Doc" that first went to print with the list, was due in court later on Monday on misdemeanour charges. He could face up to two years in prison if convicted.

"Ta Nea is publishing the list today. Will they be prosecuted? A month ago it published a list of the tax returns of celebrities. Charges weren't filed," Vaxevanis wrote on his Twitter account.

"Today, it's not Hot Doc that's on trial but press freedom in Greece, and truth," Vaxevanis said.

The magazine says the list, which includes well-known political and business figures, was sent to it anonymously and authorities have not confirmed if the list was authentic.

MUZZLING THE MEDIA

Greek authorities have said there is no evidence that people included in the list have violated the law, but former ministers have come under fire in Greek media for not investigating the list for suspected evaders.

"He published a list of names without special permission and violated the law on personal data," a police official said on Sunday following the arrest of Vaxevanis.

"There is no proof that the persons or companies included in that list have violated the law. There is no evidence that they violated the law on tax evasion or money laundering," the official added.

Court officials said the names of two politicians on the list have been referred to parliament for investigation, and the accounts controversy has highlighted deep divisions in a country now in its fifth straight year of recession, where austerity measures have taken a heavy toll on poorer sections of society.

In a video sent to Reuters by his magazine, Vaxevanis defended his actions and said his prosecution was an attempt by the authorities to muzzle the press.

"I did nothing other than what a journalist is obliged to do. I revealed the truth that they were hiding," he said. "If anyone is accountable before the law then it is those ministers who hid the list, lost it and said it didn't exist. I only did my job. I am a journalist and I did my job."

"Tomorrow in parliament they will vote to cut 100-200 euros in pay for the Greek civil servant, for the Greek worker, while at the same time most of the 2,000 people on the list appear to be evading tax by secretly sending money to Switzerland."

(Editing by Jon Boyle)

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Federer to face Del Potro in Basel final

By Brian Homewood

BASEL (Reuters) - Roger Federer and Juan Martin del Potro will meet on Sunday for the first time since their epic Olympic Games clash after both beat French opponents to reach the final of the Basel Open.

Argentine Del Potro overpowered Richard Gasquet 6-2 6-2 to reach his fifth final of the year while world number one Federer met more resistance before beating Paul-Henri Mathieu 7-5 6-4.

Federer has spoiled what has otherwise been an excellent year for Del Potro, winning all six of his meetings against the Argentine on a mixture of clay, grass and hard courts.

The most recent of those was their astonishing Olympic semi-final at Wimbledon where Federer won a 36-game final set.

Del Potro, who claimed his third title of the year in Vienna last week, also lost to Federer in the quarter-finals of the Australian and French Opens, the Rotterdam final, the Indian Wells quarter-final and the Dubai semi-finals.

Overall, Federer has won 13 out of 15 meetings with Del Potro whose only wins over the Swiss were at the U.S Open final in 2009 and at the World Tour Finals the same year.

"You have to hit winners all the time and see if you have a chance to win, there are very few players who can beat him," Del Potro told reporters.

"This year, I have lost to him six times already, I was very close at the Olympics and I was ahead at the French open."

"It will give me a chance to measure myself against him and see how far I have come."

"The important thing is to keep getting closer to the top five," added Del Potro, who has edged his way back towards the top despite a series of injuries including a wrist problem which forced him to miss most of the 2010 season.

Gasquet provided some resistance for the first four games which all went with serve.

Del Potro then won the next four games to take the first set which he wrapped up with his third ace of the match.

Both players lost their opening serve in the second set and, although Del Potro's serve was not at its best, he was still far too powerful for the Frenchman, running out an easy winner to win his eighth match in a row.

Federer did not have to face one break point against Mathieu, converting two of the four that came his way to ease into the final of his hometown where he will be looking for a sixth title on Sunday.

(Writing by Brian Homewood; editing by Martyn Herman)

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There would be no mid-term polls, says Digvijay Singh

Congress General Secretary Digvijay Singh today ruled out the possibility of mid-term polls in the country and expected "smooth functioning" of the upcoming Parliament session.

"(There will be) No early...nor mid-term polls and the upcoming Parliament session would go smoothly," Singh said during a press conference here today. On reports of strained ties between UPA parties, Singh said, "There were always difficulties in coalition governments, which, the UPA government, too, is facing".

Alleging that the BJP had always made an issue of the development measures taken by the Congress-led UPA government, Singh said, "I am shocked that the BJP had opposed implementation of VAT, de-regulation of petrol and FDI in retail, which the erstwhile NDA government had decided to effect in its policies".

The BJP-ruled states were not providing any relief in tax or providing subsidy to consumers, he alleged. On the issue of subsidised LPG cylinders, Singh said, the Congress leadership was considering to raise the number of subsidised cylinders to at least nine and the BJP-ruled states should also provide three more subsidised cylinders to consumers. The former Madhya Pradesh Chief Minister claimed that there was no discord within the state congress committee, led by Kantilal Bhuria.

Meanwhile, when asked about Singh's comments on the sidelines of a function here today, Chief Minister Shivraj Singh Chouhan said he did not want to indulge in any allegation and counter-allegation game. "I will appeal to everyone cutting across the party lines that they should not give a political colour to any development works," he said. "I do not want to spend my energy on what he (Digvijay) told media," Chouhan added.

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Late Arteta goal gives Arsenal win over QPR

By Mike Collett

LONDON (Reuters) - A late Mikel Arteta goal ended some determined resistance from Queens Park Rangers as Arsenal beat the Premier League's bottom club 1-0 at the Emirates Stadium on Saturday.

Arteta struck from close range after 84 minutes, turning the ball in from the rebound after the ball hit the bar.

The goal came soon after Rangers' Stephane Mbia was sent off for lashing out at Arsenal defender Thomas Vermaelen.

He was the ninth QPR player to be red carded during 2012.

Reading and Fulham drew 3-3 in a thriller at the Madejski Stadium, Wigan Athletic beat West Ham 2-1, Aston Villa drew 1-1 with Norwich City and Stoke City and Sunderland drew 0-0.

Champions Manchester City were playing Swansea at the Etihad at 1630GMT.

Arsenal's win halted a run of two successive defeats to Norwich City in the Premier League and Schalke 04 in the Champions League over the last seven days.

The Gunners welcomed back Jack Wilshere after the England midfielder missed the last 17 months with ankle problems and he played well for the 67 minutes he was on, helping Arsenal move into fourth place while QPR are still without a win in their opening nine league games and have only three points.

Arsenal manager Arsene Wenger told Sky Sports the victory came as a relief after a difficult week.

"When you lose two games the confidence goes quickly and for us today the most important thing was to win the game," he said.

"It was a fight against a good QPR side and a fight against our nerves. But QPR are a good team and they will not stay bottom of the league."

SIX-GOAL THRILLER

Reading and Fulham shared the points in a six-goal thriller which left Reading still looking for their first win of the season, although they moved up a place from 19th to 18th, ahead of Southampton who play Tottenham Hotspur on Sunday.

Mikele Leigertwood put Reading ahead with a fine strike after 26 minutes before Brian Ruiz equalised for Fulham in the 61st minute three minutes after coming on as a substitute.

Chris Baird put Fulham 2-1 up after 77 minutes but had to go off after injuring himself on the advertising hoardings as he celebrated his goal.

Three goals then followed in the closing stages as Gareth McCleary made it 2-2 after 85 minutes before Dimitar Berbatov looked to have scored Fulham's winner two minutes from time with a thunderous drive.

Then, almost with the last kick, Hal Robson-Kanu earned Reading a point, scrambling home from close range.

Goals from Ivan Ramis and James McArthur gave Wigan their second win of the season and halt West Ham's strong start to the season despite a late reply by James Tomkins.

Aston Villa continue to labour towards the relegation zone after a disappointing home draw with Norwich.

Villa, whose manager Paul Lambert was up against his old club, were reduced to 10 men when Joe Bennett was sent off early in the second half.

They had taken the lead through Christian Benteke but Michael Turner replied for Norwich late on.

(Reporting by Mike Collett; editing by Martyn Herman)

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Will expose owners holding benami flats in Adarsh: Digvijay

Indore, Oct 27 (PTI) Congress general secretary Digvijay Singh today said he would soon expose "real owners" who are allegedly holding benami flats in controversial Adarsh building. Adarsh, the 31-storey highrise in south Mumbai, became the centre of controversy following allegations that ineligible persons, including politicians and bureaucrats among others, had got membership to the society. "I will soon release names of real owners who own flats in Adarsh Housing Society," Singh told reporters. Taking a swipe at BJP president Nitin Gadkari over controversy surrounding flowing of funds into the companies that invested in Poorti Sugar and Power Limited (PSPL) promoted by him, Singh said, "Adarsh ke tale bhi koi driver ho sakta hai...(There can be a benami flat registered in someone else's name in Adarsh Society as well)". He was referring to media reports claiming that Gadkari's driver was a director in one of the companies. On Ashok Chavan, Singh said, "he was asked to step down as Maharashtra chief minister after it came to light that some of his relatives owned flats in the highrise. Adarsh was builders cooperative society and not run by the state government." The former Madhya Pradesh chief minister alleged that BJP-ruled Chhattisgarh government had allocated a coal block to party MP Ajay Sancheti's firm even though it did not fulfil the criteria for conducting commercial mining. "Gadkari ki pol khul gayee hai...unke Sancheti parivar se sambandh hain..( Gadkari stands exposed...He has relations with Sancheti family)," he alleged. Even a CAG report for 2010-11 had pulled up the Raman Singh government over the allocation, Singh said. On allegations of financial irregularities in a trust run by Union Minister Salman Khurshid and that of corruption against former Himachal Pradesh chief minister Virbhadra Singh, he said they had clarified their respective positions. Singh also denied allegations of murkier transactions involving Robert Vadra and real estate company DLF. PTI GG NSK KAS BSM

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Iraq Eid attacks kill 15

Baghdad, Oct 27 (AFP) Attacks mostly targeting Shiite Muslims during the Eid al-Adha holiday, including bombings of a marketplace and a minibus carrying pilgrims, killed 15 people in Iraq today. The shootings and explosions, which also left more than 40 people wounded, were the latest in a spate of violence in the past week that have broken a relative calm in Iraq. In the east Baghdad district of Maamal, a bomb exploded in a neighbourhood market as women were shopping for groceries alongside their children at around 9:00 am (0600 GMT). At least five people were killed, including three children and a woman, security and medical officials said. They added that 13 others were wounded. An AFP journalist at the scene reported pools of blood along the street, and pieces of shrapnel mixed with vegetables lying on the ground. Just north of Baghdad in the town of Taji, a magnetic "sticky bomb" attached to a minibus ferrying Shiite pilgrims killed at least five people and wounded 12 others, a security official and medics said. The doctors warned that the toll could rise. Several officials said some Iranian pilgrims were among the dead and wounded, but it was unclear how many. Differing tolls and details of casualties are common in the chaotic aftermath of attacks in Iraq. Eight other people were wounded by a car bomb targeting a Shiite religious foundation's offices in the town of Tuz Khurmatu. (AFP) DDC

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Gadkari in Himachal, to address poll rallies

Sat, Oct 27, 2012 at 16:02

Gadkari in Himachal, to address poll rallies

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Gadkari in Himachal, to address poll rallies

Gadkari in Himachal, to address poll rallies

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Gadkari in Himachal, to address poll rallies

Gadkari in Himachal, to address poll rallies

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Shimla, Oct 27 (PTI) BJP President Nitin Gadkari, who is facing flak over the affairs of his company, today arrived in the poll-bound state to address election rallies, a day after his party expressed its unanimous support to his continuance in office. Gadkari arrived at Jubbarhatti airport, 22-Km from here, and flew to Rekong Peo in tribal Kinnaur district to address the election rally. The BJP did not arrange any meeting of Gadkari with the press. Party General Secretary J P Nadda said that he would meet the press on October 30 during his next visit to Shimla. BJP had last night set at rest speculation about the fate of Gadkari by expressing its unanimous support to his continuance in office and dismissed media reports of his impending resignation as "baseless and untrue". "Since Nitin Gadkari has himself offered to face any inquiry, the unanimous view of the party is that it is solidly behind him. All media speculation about his resignation are baseless and untrue," BJP spokesperson Prakash Javadekar had said. Sources said though RSS has made it clear that it has nothing to do with the allegations over the corporate dealings of any individual and wants an impartial probe as well as punishment to the guilty, there should be no trial by the media. The Purti Group company, with which Gadkari is associated and over which there are allegations of dubious funding, also issued a statement that it has been complying with requirements of laws from time to time and expected a fair inquiry by the Ministry of Corporate Affairs. PTI PCL DV

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Women organisations hail judgement on J C Bose rape case

Jaipur, Oct 27 (PTI) Women organisations here have described the judgement in the infamous J C Bose hostel gang rape case as "historic," in which seven persons were sentenced to 10 years of rigorous imprisonment by a local court. "This historic decision has strengthened us all in the women's movement and all justice lovers in society," a joint statement issued by PUCL activist Kavita Srivastava said. "The different constituents of the women and people's struggles are extremely pleased with the conviction of the accused in case by the district court. It took more than 15 years for the complainant girl to be vindicated," it said, adding that despite the delay in the case "we hail this as a historic decision in a gang rape case." The statement was given by PUCL, Renuka Pamecha (Women's Rehabilitation Group), Mamta Jaitly, (Vividha Women's Documentation and Resource Centre), Dr Pawana Surana, (former Chairperson State Women's Commission), Malti Gupta (Rajasthan University Women's Association) and Sumitra Chopra (Janwadi Mahila Samiti, Rajasthan). The victim was gang raped on September 5, 1997, in J C Bose hostel of Rajasthan University. Seven persons were sentenced to 10 years of rigorous imprisonment by the court yesterday. PTI SDA AVT

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SPORT MARATHON 2LAST

Published on Sat, Oct 27,2012 | 16:02, Updated at Sat, Oct 27 at 16:25Source : PTI |   Watch Video :

Judge Rakoff on Rajat Gupta
"The Court can say without exaggeration that it has never encountered a defendant whose prior history suggests such an extraordinary devotion, not only to humanity writ large, but also to individual human beings in their times of need."

But when one looks at the nature and circumstances of the offense, the picture darkens considerably. In the Court's view, the evidence at trial established, to a virtual certainty, that Mr. Gupta, well knowing his fiduciary responsibilities to Goldman Sachs, brazenly disclosed material non-public information to Mr Rajaratnam at the very time, September and October 2008, when our financial institutions were in immense distress and most in need of stability, repose, and trust.

Having finished his spectacular career at McKinsey in 2007, Gupta, for all his charitable endeavours, may have felt frustrated in not finding new business worlds to conquer

After so many years of assuming the role of father to all, Gupta may have longed to escape the straightjacket of overwhelming responsibility, and had begun to loosen his self-restraint in ways that clouded his judgment.

Gupta's criminal acts represented the very antithesis of the values he had previously embodied.

But the history of this country and the history of the world, I'm afraid, is full of examples of good men who do bad things."

That in a nutshell is why Judge Rakoff sentenced Rajat Gupta to 2 years imprisonment and a $5 million fine. The prosecution had asked for an 8-10 year sentence, the defense proposed probation and community service. So did Rajat Gupta get what he deserved or did he get off too lightly? And what precedent does this set for insider trading cases, given that Mr Gupta did not profit from the trades but he did breach his fiduciary duties as a Goldman Sachs Board member? CNBC-TV18's Menaka Doshi spoke to two veterans in securities regulation & the justice system - Harvey Pitt, Former Chairman of the SEC and Judge Richard Holwell, the Judge who sentenced Raj Rajaratnam to 11 years imprisonment.

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Apple iPhone 5 to be launched in India on November 2

Ingram Micro announced today that it will offer the Apple iPhone 5 at leading trade stores and retail outlets across India beginning on Friday, November 2. The iPhone 5 was launched in the US on September 21.It was recently reported that in order to expand its user base in India, Apple will start selling the iPhone 5 through specialised distribution companies. Apple has tied up with Ingram Micro Inc, which is a large US-based distributor of technologies, as well as Redington India Ltd, a local distributor with 12,000 smaller partners across the country.

Click here for full story

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Sensex closes 133 pts down; PSU banks, HUL dive post Q2 nos

15:56

Indian shares closed lower on the first day of the November series following weakness in global markets, rising concerns over asset quality of public sector banks and disappointing volume growth by HUL.
The 50-share NSE Nifty fell 41 points to close at 5,664.30 after hitting an intraday low of 5,641.75, weighed down by FMCG, banking & financials, healthcare, technology and oil & gas exploration shares.

Experts feel the consolidation, which the market saw in October, may end in November.

UR Bhat of Dalton Capital Advisors thinks November will be an interesting month, especially after the US elections that will be held on November 6.

In terms of domestic cues in November, Bhat says, there is the Parliament opening up again and with the sort of dysfunctional politics, governance issues coming to the fore, it is a space needs to be closely watched. "We do not expect huge amount of legislative business will happen. Therefore, whatever administrative measures the government could take they have had a go at it," he said.

The 30-share BSE Sensex declined 133.29 points to 18,625.34.

Investors also looked cautious ahead of the Reserve Bank of India's monetary policy review for the first six months of FY13 on October 30.

Portfolio manager PN Vijay says market is expecting some sort of monetary loosening from the Reserve Bank of India, given the fact that inflation has not risen dramatically for quite sometime now.

"The government has shown its intention to cut the fiscal deficit quite strongly. It is a great opportunity for RBI to do monetary loosening," he told CNBC-TV18 in an interview.

Country's largest private sector lender ICICI Bank declined 0.7 percent due to weakness in entire banking sector. Its quarterly numbers were largely in-line with expectations with the net profit growing 30 percent year-on-year to Rs 1,956 crore in Q2FY13, helped by robust loan growth and other income.

Rikesh Parikh, VP-Markets Strategy and Equities of Motilal Oswal Securities said ICICI Bank numbers were broadly in line with estimates. "Going forward we expect net interest margin to be maintained around 3 percent as cost of funds reduces, with no deterioration in assets quality," he said.

But the performance of public sector banks was quite bad in the September quarter due to asset quality concerns, pushing BSE Bankex down by 0.92 percent.

Punjab National Bank and Indian Overseas Bank dropped 7 percent following disappointing numbers in Q2FY13. IOB's net profit fell 24 percent YoY to Rs 158 crore and PNB's net went down by 11.6 percent to Rs 1,065 crore due to rising non-performing assets.

FMCG major Hindustan Unilever tanked 2 percent after tepid volume growth in the September quarter. Net profit grew higher-than-expected 17 percent YoY to Rs 807 crore but its volumes growth was 7 percent as against 9 percent in Q1FY13 and expectations of 8-8.5 percent.

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Army officer found dead in Jammu

Jammu, Oct 26 (PTI) An Army officer has been found dead in his official residence at Nagrota-based 16 Corps headquarters on the outskirts of the city. The 42-year-old officer, Lt Col Madukar Singh Choudhan, was found lying unconscious in his room last evening and was shifted to a hospital where he was declared brought dead, police said. His body had been taken to GMC hospital for the post-mortem to ascertain the exact cause of the death, they said. PRO Defence, Col R P Palta said that the officer died of some illness. The officer hailed from Uttar Pradesh and his wife and two children are settled in Delhi. The Commander of 16 Corps, Lt Gen D H Hooda expressed sorrow over the demise of the officer. PTI AB PMS

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Social networking websites: Home ministry official summoned

Fri, Oct 26, 2012 at 16:02

Social networking websites: Home ministry official summoned

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Social networking websites: Home ministry official summoned

Social networking websites: Home ministry official summoned

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Social networking websites: Home ministry official summoned

Social networking websites: Home ministry official summoned

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New Delhi, Oct 26 (PTI) A Union home ministry official was asked today by a Delhi court to appear before it to verify the forms for serving summonses to US-based websites Facebook and Google among others, accused of promoting class enmity and undermining national integrity. Metropolitan Magistrate Jay Thareja asked Union home ministry's Under Secretary Amar Chand to appear before him on November 19 after the forms, required to be filled under the treaty between India and the USA, were submitted to the court by complainant Vinay Rai's advocate. Rai's advocate Shashi Tripathi submitted the forms to the court in accordance with its earlier order. "The assistance of Amar Chand (MHA official) is required to verify the acceptability of the said forms. Let Amar Chand be summoned for November 19," the court said. The court was earlier informed by the complainant's counsel that the process of service of summonses is being done in accordance with the Mutual Legal Assistance Treaty (MLAT) between the two countries. Amar Chand had earlier suggested to the court to start extradition proceedings to secure the presence of the US-based websites and had referred to the MLAT between the US and India saying that instead of issuing summonses against them, it should initiate extradition proceedings. The court, however, had said that it would not initiate the extradition proceedings against the websites and had asked the official to assist the complainant's counsel in filling the forms for service of summonses. PTI SKV RKS RAX

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Sasken Comm fixes Nov 07 as record date for interim dividend

Sasken Communication Technologies Ltd has informed BSE that November 07, 2012 is fixed as the Record Date for the purpose of payment of Interim Dividend.The dividend will be disbursed on and from November 19, 2012.Source : BSE

Read all announcements in Sasken Comm

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Nestle Q3 results on November 12, 2012

Nestle India Ltd has informed BSE that the unaudited financial results of the Company for the third quarter ended September 30, 2012 shall be considered by the Board of Directors of the Company at their meeting proposed to be held on November 12, 2012 (Q3).Source : BSE

Read all announcements in Nestle

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Asian Paints board declares interim dividend of Rs 9.50

Asian Paints Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 25, 2012, inter alia, have approved a payment of interim dividend of Rs. 9.50 (Rupees nine and paise fifty only) per Equity Share of the face value of Rs. 10 each for the financial year ending March 31, 2013. The interim dividend will be paid on or after November 02, 2012.Source : BSE

Read all announcements in Asian Paints

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Accumulate Rolta India; target of Rs 85: PLilladher

Prabhudas Lilladher is bullish on Rolta India and has recommended accumulate rating on the stock with a target of Rs 85 in its October 23, 2012 research report.

"Rolta reported Q1FY13 revenue above our expectation but margins below expectation. The company continues to see benefits from its IP-driven solutions, which has helped in supporting the revenue growth. As Rolta moves away from the services business to IP-driven business, we continue to see subdued earnings performance in H1FY13. We retain our 'Accumulate' rating."

"Rolta reported revenue growth of 5.6% QoQ to Rs4,701m (PLe: Rs4,591.3m, Cons: Rs4,616m). EBITDA margin contracted significantly by 940bps QoQ to 45.2% (PLe: 53%, Cons:52.2%), mainly due to decline in margins of EGES (2214bps) & EITS (220bps) QoQ, respectively. However, EPS grew by 32.4% QoQ to Rs3.9 (PLe: Rs2.4, Cons: Rs2.86), due to higher other income and lower depreciation cost. Order book grew by 3.0% QoQ to Rs22,062m, strongest growth in the last five quarters. EGES order book grew by 2.6% QoQ, whereas EITS grew by 3.2% QoQ, respectively. The company's decision to move away from low-end services business to high-value solutions based on IP, could put pressure on the order book. We expect order book to remain volatile in the near term."

"We believe that volatile earnings is a matter of concern for the company. We also believe that a high interest cost and a weak business environment could result in decline at the bottom-line. We retain our 'Accumulate' rating, with a target price of Rs85, 6x FY13e earnings estimates," says Prabhudas Lilladher research report.    

Public holding more than 90% in Indian cos   

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Graphic artist Gunen Ganguly dies

Gurgaon, Oct 24 (PTI) Well known graphic artist Gunen Ganguly, who used imagination, shapes and colour to give a special blend to his paintings, died here after a brief illness. Born on May 1, 1924, in West Bengal, Ganguly, who was trained in Italy, passed away at a hospital here last night, his family said. He is survived by wife, a daughter and a son. Winner of National Award for Art, he was closely associated with AIFACS. His paintings have been exhibited in Paris, Geneva, Poland and Africa. His works were also displayed in exhibitions at the National Gallery of Modern Art, Delhi, Sahitya Kala Parishad, Lalit Kala Akademi, Birla Academy, Kolkata and Jehangir Art Gallery, Mumbai. He was known for his 'Moon and Vulture' and several other works inspired by still life. PTI SC BB

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Mining halt may lead to suicides in Goa: Cabral

Panaji, Oct 24 (PTI) A BJP legislator in Goa today said if the mining halt continued in the state, then he feared that people might resort to suicides. "This is just the first month of mining halt. If this continues further, we will have people committing suicide," Sanvordem BJP MLA Nilesh Cabral told reporters. He said the halt on mining activity has hit his constituency and people have lost their livelihood. The Supreme Court in its recent verdict had ordered halt in the extraction and transportation of ore in Goa in wake of Justice M B Shah Commission's findings about illegal mining in the state. A state based NGO, Goa Foundation, had moved the apex court claiming that all the mines in the state were illegal. Cabral said the mines should not be closed till some alternative employment avenue is arranged for the people dependent on it. The state can decide on the buffer zone around wildlife sanctuaries but the mines in that region should not be shut down immediately, he said. "Shut down the mines but in a phased manner," he added. PTI RPS GK

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Six injured in bear attack in MP

Chhattarpur (MP), Oct 24 (PTI) Six persons were injured when a bear attacked them during a religious programme in Rajgarh village of the district, police said today. A bear entered the premise where people were reciting hymns on the occasion of Navratri festival last night and attacked them. The six injured were admitted to the district hospital, they said. The village is situated on the border of Panna Tiger Reserve and it is suspected that the bear strayed there from the nearby forest area, police added. PTI COR MAS GK SAI DV SDM

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PMO asks CIL, CEA to work on price-pooling of coal

With impasse over the price pooling mechanism of imported coal remaining unresolved, the Prime Minister's Office (PMO) has asked both Coal India and Central Electricity Authority to work on the issue.

"The PMO has recently asked both CIL and CEA to sit and work on Price Pooling," a top official in the Coal Ministry said.

To offset the impact of high import costs, the Planning Commission has said that CIL should adopt a pooling formula on prices by combining rates of imported and domestic coal.

While a number of private power producers have agreed to the price-pooling for coal, some of the state governments like West Bengal have said such a mechanism was not acceptable to them.

The Coal Ministry had earlier said the matter was under consideration and dialogue was on with the Power Ministry.

Earlier CIL had said that price pooling is a mechanism to implement FSA and "if price pooling is approved then 15 percent supply of imported coal will be not in the cost plus method, but in pooling mechanism."

The CIL board had in September approved the modified fuel supply agreement (FSA) without price-pooling with 65 percent domestic coal and 15 percent imported coal at cost-plus basis.

CEA is also working on a price-pooling mechanism. So far, only 30 power companies, including Lanco and Adani, have signed FSAs with CIL.

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Five killed, six injured as truck overturns

Khargone (MP), Oct 23 (PTI) Five labourers were killed and six others injured when their truck overturned at Jhumrighat near here today, police said. The truck, fitted with a borewell machine, overturned while negotiating a turn at Jhumrighat near Hailapadawa police post area, they said. The deceased have been identified as Takaruram (30), Tosoram (20), Sopsingh (22), Sanjay (20) and Guddu (22), Additional Superintendent of Police S S Chouhan said, adding that they belonged to Signar village of Kondagaon district in Chhattisgarh. The injured were taken to Indore for treatment, he added. The district administration has announced ex-gratia of Rs 5,000 each to the kin of the deceased and Rs 2,000 each to the injured, officials said. According to police, the bodies were being sent to Chhattisgarh. PTI COR MAS NP HU RYS

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Oppn will unitedly take up coal issue in next Par session: JDU

Tue, Oct 23, 2012 at 16:02

Oppn will unitedly take up coal issue in next Par session: JDU

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Oppn will unitedly take up coal issue in next Par session: JDU

Oppn will unitedly take up coal issue in next Par session: JDU

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Oppn will unitedly take up coal issue in next Par session: JDU

Oppn will unitedly take up coal issue in next Par session: JDU

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New Delhi, Oct 23 (PTI) Accusing ruling Congress of "not being serious" in curtailing corruption, JDU today said the Opposition will corner the government on coal block issue in Winter Session of Parliament beginning from November 21. "The main issue is coal block allocations in which a number of irregularities have been reported. Those saying that the opposition have become silent on it are wrong. Let the Winter Session begin, the opposition will take up the issue unitedly," Yadav, who is also the NDA convener, said at a press conference here. The JD-U president was critical of Home Minister Sushilkumar Shinde's statement that there were no losses in coal block allocation. He wondered how such "irresponsible" statement was made when the CAG has categorically mentioned in its report that a loss of Rs 1.86 lakh crore was incurred by the exchequer in the coal block allocation. "Shinde's argument of no loss due to allocation of the coal blocks will be true only when the government cancels all the allotments and allocates them afresh," the JDU chief said. Noting that priority was given to private companies over the PSUs in the allocation of the coal blocks, he said, "the most advantageous company is of Jindal's, who purchased coal at very nominal prices and sold electricity at very expensive rates putting common man at most disadvantaged position." "They were selling electricity at the rate of Rs 5.5 to Rs 6 per unit, whereas the nearby plant of NTPC used to supply electricity at Rs 2.2 per unit. "...that is how Naveen Jindal is making enormous profits due to proximity with the government. The Congress party through its government is giving all favours to Jindals," Yadav alleged. While attacking the government for its argument that the Supreme Court in its recent judgement mentioned that auctioning of natural resources is not necessary, Yadav also expressed surprise at the apex court's rulings in the 2G case. "In 2G spectrum case, the Supreme Court did mention in one of its judgements that disposal of spectrum should have been done through auction. But later it also mentioned that the spectrum should have been disposed of at best prices without auction. "I do not know as to which of the judgement of Supreme Court is right here. How will the country see a uniformity in the apex court's judgements, when different judgements come on an issue within few months?" Yadav said. PTI AMR RAI

• Cairn net more than triples to Rs 2,322 cr in Sept quarter 
• Now, invest online in gold/silver at wholesale prices 
• Bull's eye: Buy ICICI Bank, Adani Ent, short Dish TV, BOB   
• Nifty may fall to 5,450 if it doesn't hold 5,600: Darashaw   
• Stocks in news: Kingfisher, DB Realty, Cairn, Rain Comm 
• SP Tulsian's multibaggers: Dish TV, KCP Sugar   

From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

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2 die in rain related incidents; Decrease in rainfall forecast

Tue, Oct 23, 2012 at 16:02

2 die in rain related incidents; Decrease in rainfall forecast

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2 die in rain related incidents; Decrease in rainfall forecast

2 die in rain related incidents; Decrease in rainfall forecast

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2 die in rain related incidents; Decrease in rainfall forecast

2 die in rain related incidents; Decrease in rainfall forecast

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Chennai, Oct 23 (PTI): Two persons died in rain related incidents in Tamil Nadu today even as the Met office forecast a decrease in rainfall in the state and Puducherry with the depression in Bay of Bengal moving towards the Arabian sea. "The depression has moved towards Arabian Sea. Rainfall is likely to decrease in the coming days," a Meterological department official said. The official said rain or thundershowers may occur during the next 24 hours in interior Tamil Nadu while coastal areas of the state may experience isolated rainfall. For Chennai, the sky would be generally cloudy with one or two spells of rain or thundershowers in some areas in the next 24 hours, he said. Ramanathapuram district received heavy rainfall of 13 cm in the last 24 hours ending 0830 hrs today,followed by Tindivanam with eight, Pamban and Bhavanisagar with five cm each. The two deaths were of a father and his son, who were electrocuted when they stepped on a live wire in front of their house at Singikulam near Tirunelveli. Chief Minister Jayalalithaa said last week that 20 persons had been killed in rain related incidents since the onset of the North East monsoon on October 19. PTI VIJ APR DK

• Cairn net more than triples to Rs 2,322 cr in Sept quarter 
• Now, invest online in gold/silver at wholesale prices 
• Bull's eye: Buy ICICI Bank, Adani Ent, short Dish TV, BOB   
• Nifty may fall to 5,450 if it doesn't hold 5,600: Darashaw   
• Stocks in news: Kingfisher, DB Realty, Cairn, Rain Comm 
• SP Tulsian's multibaggers: Dish TV, KCP Sugar   

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Hero MotoCorp Q2 net falls 27 pct, misses estimates

MUMBAI (Reuters) - Hero MotoCorp, the world's largest two-wheeled vehicle manufacturer, missed estimates with a 27 percent fall in net profit for the quarter to September-end, as net sales slumped by 11 percent.

Motorcycle sales growth in India has slumped in recent months as high interest rates and rising fuel costs dampen demand, while Hero's dominant market share has been eroded by an aggressive push by former partner Honda Motor Co <7267.T>.

Hero said profit for the July-September period was 4.41 billion rupees, below market expectations of 4.87 billion rupees, according to Thomson Reuters I/B/E/S.

($1 = 53.5750 rupees)

(Reporting by Henry Foy; Editing by Anupama Dwivedi)

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SDFC Finance board approves stock split

SDFC Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 22, 2012, inter alia, have transacted the following business:1. Approved split in Face Value of Equity Shares from 1 share of Rs. 10/- each to 2 shares of Rs. 5/- each. Hence every shareholder holding 1 share of Rs. 10/- each will get 2 shares of Rs. 5/- each, subject to approval of members.2. Extra-ordinary General Meeting of the Company will be conducted on November 20, 2012 to consider split in the Face Value of Equity Shares.Source : BSE

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RBI may keep policy rate on hold; CRR cut possible: HSBC

The Reserve Bank is likely to keep the key interest rate unchanged in its October 30 monetary policy because of inflationary pressures, but might go for another cut in CRR, says an HSBC report. The RBI has held its short-term lending (repo) rates unchanged at 8 per cent since April 2012. In its policy review on September 17, RBI reduced the cash reserve ratio (CRR) -- the percentage of deposits banks keep with central bank -- by 0.25 per cent to 4.5 per cent.

It will come out with the next monetary policy review on October 30, amid industry demands for a rate cut to boost economic growth. "Given the slightly better domestic activity readings and lingering upside risks to inflation, the RBI is expected to keep the policy rate on hold on 30 October, although another CRR cut is possible," HSBC said.

The RBI is likely to keep the policy rate unchanged, as since the last monetary policy meeting, the global backdrop remains broadly the same. Moreover, during this period domestic activity has picked up, inflation is on the rise again, but no additional key structural policy measures have been implemented.

In this scenario, "the RBI is likely to keep the policy rate unchanged, although they may cut the CRR again and step up open-market operations to address the recent widening of the liquidity deficit", HSBC said. Regarding the recent reforms thrust by the government, HSBC said that while the announced measures are necessary to create the room for rate cuts, "we do not see them as sufficient by themselves to trigger a cut".

Moreover, they were already known at the time of the last monetary policy meeting when the RBI kept the policy rate unchanged, the report added. The government has recently taken a number of reform initiatives like allowing FDI in multi-brand retail, aviation and broadcasting, besides hiking diesel prices, capping the number of subsidised LPG cylinders.

The government has unleashed a second wave of reforms deciding to open the pension sector to foreign investment and raising the FDI cap in insurance to 49 per cent. Looking ahead, rate cuts would depend on the extent to which inflation risks begin to recede, HSBC said.

A rate cut in December is still in the cards, but it could get pushed back until early next year if inflation proves more stubborn than expected and additional fiscal and structural reform measures are not forthcoming, as per the HSBC report. India is facing a challenging situation, where growth rate has slowed down significantly, yet inflation levels remain high. Inflation rose to 10-month high of 7.81 per cent in September as prices of wheat, cereals and fuel and power soared.

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MCX GOLDM December contract slips

GOLDM prices on MCX were trading lower. At 16:07 hrs MCX GOLDM November contract was trading at Rs 30867.00 down Rs 233.00, or 0.75%. The GOLDM rate touched an intraday high of Rs 31110.00 and an intraday low of Rs 30815.00. So far 24239 contracts have been traded. GOLDM prices have moved up Rs 816.00, or 2.72% in the November series so far.

At 16:07 hrs MCX GOLDM December contract was trading at Rs 31066.00 down Rs 241.00, or 0.77%. The GOLDM rate touched an intraday high of Rs 31271.00 and an intraday low of Rs 31011.00. So far 19538 contracts have been traded. GOLDM prices have moved down Rs 835.00, or 2.62% in the December series so far.

At 16:07 hrs MCX GOLDM January contract was trading at Rs 31230.00 down Rs 241.00, or 0.77%. The GOLDM rate touched an intraday high of Rs 31420.00 and an intraday low of Rs 31181.00. So far 1279 contracts have been traded. GOLDM prices have moved down Rs 105.00, or 0.34% in the January series so far.

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MCX SILVERM April'13 contract trades lower

SILVERM prices on MCX were trading lower. At 16:07 hrs MCX SILVERM November contract was trading at Rs 59548.00 down Rs 316.00, or 0.53%. The SILVERM rate touched an intraday high of Rs 59960.00 and an intraday low of Rs 59401.00. So far 31255 contracts have been traded. SILVERM prices have moved down Rs 4412.00, or 6.90% in the November series so far.

At 16:07 hrs MCX SILVERM February contract was trading at Rs 61345.00 down Rs 328.00, or 0.53%. The SILVERM rate touched an intraday high of Rs 61780.00 and an intraday low of Rs 61220.00. So far 2477 contracts have been traded. SILVERM prices have moved up Rs 5855.00, or 10.55% in the February series so far.

At 16:07 hrs MCX SILVERM April contract was trading at Rs 62884.00 down Rs 340.00, or 0.54%. The SILVERM rate touched an intraday high of Rs 63326.00 and an intraday low of Rs 62785.00. So far 77 contracts have been traded. SILVERM prices have moved down Rs 1195.00, or 1.86% in the April series so far.

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Race tightens for Obama, Romney ahead of final debate

By Jeff Mason

WASHINGTON (Reuters) - The race between President Barack Obama and rival Mitt Romney has tightened in the days before their final televised debate, with the Republican closing the gap on Obama's slight but steady lead in a Reuters/Ipsos online poll.

Data from the daily tracking poll released on Saturday showed the Democratic incumbent with a small lead over the former Massachusetts governor, but the margin has narrowed from Friday and from results earlier in the week.

Forty-six percent of likely voters said they would vote for Obama in the November 6 election, while 45 percent said they would back Romney.

On Friday, Obama was ahead by three percentage points at 46 percent compared to 43 percent for Romney.

"Our numbers have shown ... Obama fairly steadily ahead by three points over the last couple of days and today's data does show a tightening in those numbers," Ipsos pollster Julia Clark said.

"It's very much neck and neck. I anticipate actually that we're going to see these numbers neck and neck all the way to Election Day."

Romney got a big boost from his strong performance in the first debate on October 3 with Obama, who was widely judged to have given a passive, lackluster performance.

The president charged back with a sharper appearance in their second debate on October 16, comforting frustrated Democrats. While opinion polls showed most viewers thought Obama won that debate, Clark said he did not, in the end, get a noticeable bounce in the polls as a result.

"I wouldn't say that we saw a second-debate bounce for either candidate," she said, while predicting that the third and final debate on Monday would not affect the race dramatically unless one of the candidates made a significant gaffe.

The final debate focuses on foreign policy. Obama is spending the weekend at the presidential retreat at Camp David in Maryland to prepare, and Romney is doing the same in Florida, a battleground state where the debate will be held.

Though national polls give a sense of the mood of the electorate, the winner of the White House race will be determined by electoral votes from a handful of states such as Ohio and Florida that swing, historically, between voting for Republicans and Democrats in presidential elections.

A RealClearPolitics average of polls on Saturday showed Obama ahead in Ohio by 2.5 percentage points and Romney ahead in Florida by 2.1 percentage points.

The precision of Reuters/Ipsos online polls is measured using a credibility interval. In this case, the poll has a credibility interval of plus or minus 3.0 percentage points for likely voters.

(Editing By Alistair Bell and Eric Beech)

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PSG hit the top after Gameiro floors Reims

PARIS (Reuters) - Paris St Germain went to the top of Ligue 1 on Saturday after a Kevin Gameiro header clinched a hard-fought 1-0 home victory over Stade Reims.

Reims had a chance to go in front in the 40th minute but Diego's penalty was saved by goalkeeper Salvatore Sirigu after Gregory van der Wiel had handled.

Gameiro, who scored twice last month in the only other league game he has started this season, then headed in a neat cross by Maxwell in the 65th minute.

PSG have 19 points from nine games, ahead on goal difference from Olympique Marseille who visit bottom club Troyes on Sunday (1900 GMT). Reims are sixth on 14 points.

The hosts struggled with an experimental midfield in the first half but Gameiro went close in the 29th minute when his effort was cleared off the line by full back Aissa Mandi.

Reims twice went close at the end of the opening period, Diego failing to convert his penalty and Maxwell clearing a Pape Souare header off the line.

PSG upped the pace after the break and were unlucky when Blaise Matuidi and Jeremy Menez hit the woodwork before Gameiro finally broke through.

Reims almost snatched an equaliser as Julien Toudic's scissors-kick struck the crossbar with five minutes to go.

(Reporting by Gregory Blachier; editing by Tony Jimenez)

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Tight security as international cricket returns to Pakistan

KARACHI (Reuters) - Top-level security involving more than 5000 police and para-military officials was in place on Saturday as cricket-starved fans in Pakistan finally got to see some live international action for the first time in more than three years.

The country has been a no-go area for international athletes since March 2009 when militants attacked the Sri Lankan cricket team in Lahore, which left six Pakistani policemen and a van driver dead.

On Saturday, local officials and security personnel put an elaborate security plan into place for the first of two Twenty20 exhibitions in which a Pakistan All Star XI took on an International World XI side.

"We had drawn up a proper security plan for the teams and even their routes were kept a secret," DIG police Shahid Hayat, who supervised the security operation, said.

A convoy of 12 police vans with an ambulance in tow drove the teams into the stadium.

"We know how important these matches are to convince the international cricket community that Pakistan is still a safe place for visiting teams," the Governor of the Sindh province, Dr Eshratul Ebad, told reporters.

World XI skipper Sanath Jayasuriya, who led a team mostly made up of former internationals, added: "It is a grand occasion for Pakistan cricket and we are happy to be part of these matches."

(Editing by Pritha Sarkar)

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PDK workers arrested

Tiruchirappli, Oct 20 (PTI) Tension prevailed in Srirangam town near here today as members of the Periyar Dravidar Kazhagam threatened to paint tar on the name board of an eatery objecting to its name "Sri Krishna Brahmana Hotel". Police said they arrested around 100 PDK activists who had gathered to participate in the agitation and barricaded all main roads leading to the hotel and did not allow any person. PDK workers said their leader and social reformer E V Ramaswamy Naicker was against naming hotel as Brahamana hotel. "Let them name the hotel as Iyer hotel. But they will not allow the hotel to be named as Brahamana hotel," they said. Countering them, Hindu outfits threatened they would be forced to launch counter agitation and said PDK had no business to interfere in such silly issues as naming a hotel. "It is just a brand..There are Mudaliar Idly shops,and Chettiar and Achi shops which are liked by the people,and they go there.There are even Iyengar Bakeries. Let PDK fight for the state's right on Cauvery water,or Mullaiperiyar dam," said an Hindu outift activist. PTI COR SSN VS

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Negative on Kingfisher Airlines: Tulsian

SP Tulsian of sptulsian.com, says that DGCA suspending licence of KFA will have a negative effect on Kingfisher Airlines stock. However it will be positive for United Spirits  and United Breweries Holding .

Below is the edited transcript of his interview.

Q: How do you think will the UB Group stocks react on Monday?

A: This suspension will have a negative effect on Kingfisher Airlines. But if you take a pragmatic view, UB group will expedite for execution of stake sale process in United Spirits Ltd at the earliest to Diageo.

They need to mobilize at least Rs 2,500 to Rs 3,000 crore for a composite scheme of settlement with employee, part payment of debt to the banks and paying the salaries to the employees and bringing in some working capital for resumptions of the operations. This amount will only realize post stake sale in United Spirits, which is estimated to be about 15 percent. This news will be positive for United Spirits, United Breweries Holding but negative for Kingfisher Airlines.

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Bus crash in Iran kills 26 schoolgirls

DUBAI (Reuters) - A passenger bus in southwestern Iran overturned on Friday evening, killing 26 female high school students on board, Iranian media reported on Saturday.

Eighteen others were injured when the bus, carrying students from the town of Borujen, flipped on the Izeh-Lordegan road, about 700 km (435 miles) southwest of the capital Tehran, Iranian media reported.

"Travelling at excess speeds on slippery roads was the cause of this accident," Colonel Samad Esfandiari, a highway patrol official, told the Iranian Students' News Agency.

The injured were taken to various hospitals in southwest Iran for treatment, state television said.

Road traffic accidents kill nearly 28,000 people and injure or disable 300,000 people a year in Iran, a country of 75 million people, according to statistics from Unicef, the United Nations Children's Fund.

Road accidents occur at a rate 20 times higher than the world average in Iran, Unicef said.

(Reporting by Yeganeh Torbati; Editing by Alison Williams)

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Details of LG Nexus 4 E960 Mako leaked online

The Google Android event is a few days away, and the major talking point of the event is the upcoming smartphone from Google that will be co manufactured by LG. There have numerous leaks in the past pertaining to this device and even images of the handset have surfaced. The latest scoop comes via a tipster, @Evleaks who uses Twitter to dish out valuable information prior to the launch of a handset. As per a recent post, @Evleaks has exposed the specifications of the upcoming Google phone, and has provided an image of the handset.In the tweet, @Evleaks has listed out the specifications of the smartphon, "LG Nexus 4 (E960): Quad-core APQ8064 @1.5GHz, 4.7"@1280x768, 2GB/16GB(8GB), 8MP/1.3MP, JB MR1, 2100mAh, 9.1mm, 139g."The above statement concurs with recent leaks about the LG Nexus 4, codenamed E960 Mako.

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Criterion to make another Burnout game, probably Road Rash game too

Sat, Oct 20, 2012 at 16:03

With Criterion working on the next game in the Need for Speed franchise titled Need for Speed: Most Wanted many gamers have been wondering one...

Source: Tech2.com

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Criterion to make another Burnout game, probably Road Rash game too

With Criterion working on the next game in the Need for Speed franchise titled Need for Speed: Most Wanted many gamers have been wondering one...

Like this story, share it with millions of investors on M3

Criterion to make another Burnout game, probably Road Rash game too

With Criterion working on the next game in the Need for Speed franchise titled Need for Speed: Most Wanted many gamers have been wondering one...

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With Criterion working on the next game in the Need for Speed franchise – titled Need for Speed: Most Wanted – many gamers have been wondering one thing; will there be another Burnout game? Creative director of the company, Craig Sullivan, has said that they will be making another Burnout game at some point in the future. Sullivan also suggested that the company's next title could be a Road Rash game."There's still a lot of stuff we want to do with driving," Sullivan told The Guardian. "We will make another Burnout game at some point. Obviously, as we're working on NFS we're thinking of really good ideas that aren't right for this series; there are ideas that we're going to explore with Burnout. And we wouldn't be making NFS or Burnout games if we didn't think the driving genre had a long shelf life and that we could push the boundaries."

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Exide Industries revises record date for Interim Dividend to Nov 01

With reference to the earlier announcement regarding October 31, 2012 as the Record Date for the purpose of payment of interim dividend, Exide Industries Ltd has now informed BSE that in the said letter due to inadvertence, Record Date was mentioned as October 31, 2012 instead of November 01, 2012.Further the Company has informed that, Record Date has been fixed on November 01, 2012 for payment of interim Dividend.Source : BSE

Read all announcements in Exide Industrie

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Vodafone, Tata Teleservices to bid in 2G auction

MUMBAI (Reuters) - Vodafone's India unit, the country's No.2 mobile phone carrier, will bid in an upcoming auction of airwaves, a source with direct knowledge said on Friday.

The airwaves auction is the result of a Supreme Court order to revoke permits issued in a scandal-tainted sale in 2008. Vodafone is not affected by that court order but it could be looking to buy additional spectrum.

Separately, Tata Teleservices Ltd will also bid in three telecom zones for the second-generation airwaves in the 800 mega hertz band, in which CDMA-based mobile carriers operate, in the auction, another source with direct knowledge of the matter said.

The company is set to lose its operating permits in the three zones after the court order.

Friday is the deadline for companies to submit their application to participate in the auction, which is scheduled to start on November 12.

(Reporting by Devidutta Tripathy and Aradhana Aravindan; Editing by Anand Basu)

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Bomb kills 19 Afghan wedding partygoers

KABUL (Reuters) - A roadside bomb killed at least 19 people, mostly women and children, who were on their way to a wedding in Afghanistan's north on Friday, local police officials said.

Fourteen more people were wounded in the blast in the Dawlat Abad district of Balkh province, said provincial police spokesman Shir Jan Durani, adding that the Taliban were behind the attack.

"They wanted to attend a wedding party in a village ... The bomb was planted by the enemies of Afghanistan," Durani said.

Separately, a bus carrying players for the country's first soccer league -- who are holding their final on Friday in the capital, Kabul -- crashed into a fuel tanker in northern Jowzjan province, killing nine and wounding 36, local officials said.

Violence has been increasing across the country as the deadline of end-2014 looms for most foreign combat troops to leave Afghanistan, leaving the 350,000-strong Afghan security forces in control.

(Reporting by Mirwais Harooni, writing by Amie Ferris-Rotman)

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Petronet LNG has support around Rs 163: Kulkarni

Petronet LNG is having support around Rs 163 on the downside and a range bound activity is expected over 6-8 trading sessions, says Shardul Kulkarni of Angel Broking.

Kulkarni told CNBC-TV18, "The charts of Petronet LNG Ltd were saying that there was chance that the stock would break out, but unfortunately today's trading session has been extremely volatile and the chart structure has been disturbed. I think going forward the stock is expected to trade in a range. On the upside, Rs 170-171 that will be the resistance zone, whereas on the downside support comes in around Rs 163. So a range bound activity is what I would expect over 6-8 trading sessions.

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Explosion in abandoned office

Thu, Oct 18, 2012 at 16:02

Explosion in abandoned office

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Explosion in abandoned office

Explosion in abandoned office

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Explosion in abandoned office

Explosion in abandoned office

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Howrah (WB), Oct 18 (PTI) An explosion occurred at an abandoned office today at Bandhaghat locality of Salkia in Howrah district today, the police said. No casualty or injury was reported but the window panes of the office were smashed. The police has taken into custody two persons for questioning, the sources said. PTI COR NN

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AGS, Implico Ally For Supply Chain Optimisation Solutions For Oil Cos

Aiming to offer supply chain optimisation solutions for oil companies, AGS Transact Technologies, the system integrator and automation solution provider, announced that it has entered into a partnership with Germany-based Implico Group, a consulting and software company, which specialises in offering downstream business process optimisation for oil companies.

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Loot in UP Roadways bus

Aligarh, Oct 18 (PTI) Passengers of a UP Roadways bus travelling from Moradabad to Aligarh was looted in broad daylight near Narona village this afternoon, police said. Armed men reportedly boarded the bus at Atrauli and shortly after it started to move, they looted the passengers at gun point. They then forced the driver to stop and sped away on the motorcycle being steered behind the bus by one of their accomplices. The exact amount of the money stolen is still not clear, police added. PTI CORR SAB PG AVT

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Images of iPad mini display leak online

With the announcement of the iPad mini just a few days away, tipsters are not holding back any information pertaining to this 7.85-inch tablet and are aiming to steal all the spotlight away from Apple when it announces the tablet. The latest leak comes courtesy of ETrade Supply and it claims to have received the LCD display that is to be fitted on the iPad mini.As per the report, the author states, "The iPad Mini LCD Screen is almost 8- inch with about 162mm in length and 124mm in width. The previous exposed iPad Mini LCD is 16:9, but the one we have got is almost a ratio of 4:3 as usual."

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Youth guilty of drunken driving released on probation

New Delhi, Oct 17 (PTI) A youth held guilty of driving his motorbike in a drunken state has been released on probation of three months by a Delhi court on the ground that sentencing him to jail term would adversely affect his life and family. Additional Sessions Judge (ASJ) Vikas Dhull let off South West Delhi resident Raju Singh on probation, setting aside the five-day jail term given to him by a trial court. "This is the first offence of the appellant under the Motor Vehicle Act. Raju is stated to be employed in a private job and sentencing the appellant for imprisonment will adversely affect his life and family. "Appellant deserves to be given a chance for reformation. The impugned order is accordingly set aside... The appellant is given the benefit of probation," the judge said. The court's order came on Singh's plea challenging the trial court's July 10 order sentencing him to five days in jail for driving his motorcycle in an inebriated state early this year in South West Delhi area. The trial court had also imposed a fine of Rs 2,000 on him. Seeking the relief, Singh's counsel had told the court that Raju is employed in private sector and is responsible for supporting his parents, wife and two minor children. The court ordered him to maintain good conduct and behaviour and gave the trial court the liberty to sentence him if he is found guilty of drunken driving during his period of probation. PTI KSF RAX

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1981 AI plane hijack: All 5 accused are absconding, says court

New Delhi, Oct 17 (PTI) A Delhi court has issued a proclamation against five alleged Sikh militants, who were deported back to India in 2000 after serving a life term in Pakistan for hijacking an Air India plane to that country in 1981, asking them to appear before it on December 3. Additional Chief Metropolitan Magistrate Sameer Bajpai said the five accused, Tajender Pal Singh, Satnam Singh, Gajender Singh, Karan Singh Kini and Jasbir Singh Jima have been absconding as non-bailable warrants (NBWs) issued against them have been unexecuted and ordered that a proclamation for absconding persons be issued. "NBWs against all accused persons remained unexecuted. After going through the report, I am satisfied that the accused persons have absconded. Process under section 82 CrPC (proclamation for person absconding) be issued against accused Tajender Pal Singh, Satnam Singh, Gajender Singh, Karan Singh Kini and Jasbir Singh Jima through DCP, Crime Branch for December 3," the magistrate said. Under section 82 of the Criminal Procedure Code (CrPC), if the court is convinced that a person against whom a warrant has been issued by it has absconded or is concealing himself so that such warrant cannot be executed, it may publish a written proclamation requiring him to appear at a specific place and at a specified time. The NBWs against the five accused were issued by the court in pursuance of a sessions court order which had earlier asked their fresh trial here in the same hijacking case of 1981, but for different offences arising out of it. The warrants were issued after the court had taken cognisance of the Delhi police charge sheet, which was filed against the five in 2011 on the sessions court's order. The Delhi Police has filed charges under sections 121 (waging war against Government of India), 121A (conspiring to commit certain offences against the state), 124A (sedition) and 120B (criminal conspiracy) of the Indian Penal Code against the five. (More) PTI PPS HMP RAX

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Self Inspection Format to Hills, Barak Valley DCs and SDOs

Guwahati, Oct 17 (PTI) To improve performance in service delivery, Deputy Commissioners of two hill districts and Barak Valley along with some SDOs in Assam have been issued a Self Inspection Format, official sources said today. The Commissionerate of Hills and Barak Valley Division has issued the Self Inspection Format to the DCs of Dima Hasao, Karbi Anglong, Cachar, Silchar, Karimganj and Hailakandi districts, besides the Sub-Divisional Officers of Lakhipur (Cachar), Bokajan and Hamren (Karbi Anglong). The sources said the format was aimed at enabling the DC and SDO (Civil) establishments to consolidate the office process and systems apart from enhancing transparency and accountability. The format would also enable the state government to know the difficulties faced by the DC and SDO establishments, the sources said, adding, it would facilitate a comprehensive inspection of the establishments by the Commissionerate on an annual basis. The format was prepared predominantly on the basis of the inputs and feedback of DCs and SDOs of the Hills and Barak Valley Division of the state. Most of the branch specific formats were finalised in consultation with the respective departmental officers, the Assam Inspection Manual, Government of Assam, 1959 and the Government of Assam Questionnaire for the Inspection of the DCs and SDOs of 1957. Admitting there is scope for further improvement, the Commissionerate envisaged that with usage over time it would evolve as a more standardised, stabilised format and will help in achieving the desired results. PTI ESB NN

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Senior govt official held on bribery charge

Dehradun, Oct 17 (PTI) Vigilance officials have arrested a senior government official in Uttarakhand while allegedly taking a bribe of Rs one lakh from a Delhi-based entrepreneur. Karna Singh Haldar, the manager of Tehri district industrial centre at Dhalwala, was arrested outside his office yesterday following a complaint by the entrepreneur Mahesh Joshi, vigilance officials said today. Joshi had lodged a complaint against Haldar alleging that the official had demanded a bribe from him in return for clearing a subsidy of Rs 18,69,035 granted to him by the Union government under a tourism promotion scheme for building a resort at Shivpuri, Tehri. The amount was the first instalment of the 35 per cent subsidy granted to Gupta under the scheme, the sources said. PTI ALM TKP DV

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