18 January 2011

INDIA BUSINESS UPDATE - Open Letter To Govt; TCS; Cabinet Reshuffle :: CNBC TV18

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AN OPEN LETTER TO OUR LEADERS: INDIA INC
Alarmed at the widespread governance deficit, corruption that is corroding the fabric of the nation and issues like environmental concerns that are impeding economic development, a group of 14 India Inc leaders including Deepak Parekh, Azim Premji, N Vaghul, Keshub Mahindra, Jamshyd Godrej, Yezdi Malegam, Bimal Jalan, Justice BN Srikrishna, Anu Aga, Ashok Ganguly, M Narasimhan, A Vaidyanathan, Nachiket Mor and Justice Sam Variava have written an open letter to the country's political leaders. "It is imperative to establish ways and means, for every Indian, to feel that they have genuine equal opportunities, access to decision makers and a stake in India's progress," says the open letter.

LEAD STORIES
TCS Q3 NET UP 9.24% AT RS 2,370 CR; BEATS STREET
TCS' consolidated net profit was at Rs 2,369.83 cr vs Rs 2,169.21 cr QoQ. Total income rose 4.1% to Rs 9,663.35 cr.

SENSEX ENDS MARGINALLY UP AFTER CHOPPY RIDE
Sensex rose 21.81 points to end at 18,882.25, as domestic funds bought scrips despite weak global trends. Nifty settled at 5,654.75 up 0.20 points.

CABINET RESHUFFLE LIKELY IN NEXT 48 HRS
Manmohan Singh is scheduled meet President Pratibha Patil this evening and sources say that a Cabinet reshuffle is likely in the next 48 hours.

TOP STORIES
•SAIL FPO: Invst banks under fire for taking up Tata job
•IFFCO chairman shoots himself while cleaning pistol
•Rupee ends at 7-week low of 45.52/$
•Sebi order hits Anil's stocks, R-Infra at year-low
•L&T Q3 net up 11% to Rs 840 cr
•Power Finance Corp Q3 net jumps 17% to Rs 659 cr
•Axis Bank Q3 net up 36% at Rs 891 cr
•Env Min gets extension till Jan 21 for Lavasa report
•Anil Agarwal meets Jairam for Orissa proj clearance
•JSW Steel to infuse Rs 3,800 cr in Ispat Industries
•Jindal Power $1.6 bn IPO to hit in April
•India facing surge in inflation says Subbarao
•M&M to use 'Rise' as new brand positioning
•Post FPO promoter's holding will be 30%: Tata Steel
•AI to lease 40 aircraft to meet growing demand
•Essar Oil plans 35-day shutdown at Vadinar refinery
•Audi launches R8 sedan priced at Rs 1.35 cr
•World Cup squad; Chawla in; Sreesanth, Sharma out
•Swiss whistleblower to hand bank data to WikiLeaks
•Social Network wins 4 trophies at 'Golden Globes'

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