04 February 2011

India Business Update: Feb 4, 2011 : CNBC TV 18

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MARKETS STAGE A SMART PULLBACK, SENSEX GAINS 358 PTS
Sensex ended up at 18,449.31 points, its biggest gain this year led by realty, capital goods, metal, banking. Nifty was at 5,526.75, up 94.75 points.

CBI GETS 5-DAY REMAND OF A RAJA, OTHERS
The Patiala House Court granted CBI 5-day remand of Raja, Chandolia and Behura. Swan, Unitech were given preferential treatment in awarding licences.

M&M PROMOTER STAKE FALLS BELOW CRUCIAL 26% MARK
Mahindra & Mahindra promoters' shareholding fell to 22.76% in the December quarter, well below the crucial 26% 'safe level' that is preferred by most.

TOP STORIES
•Egypt: Govts, rights groups decry attacks on journalists
•Egypt: PM apologises for attack, Army moves in
•Crude tops $103 as Egypt unrest intensifies
•NSE, BSE caution against trade in over 1900 securities
•SAIL resolves issue; retains merchant banker for FPO
•Ashok Soota may liquidate his MindTree stake
•IDBI Bank, Vedanta to hire inmates from Tihar jail
•Food inflation jumps to 17.05% from 15.57%
•Govt allows Iran crude payment through German bank
•UK Sinha appointed 8th chairman of Sebi
•Noida SEZ fuels tax evaders' crime spree
•Nalco may invest Rs 700 cr in Hindustan Copper mines
•Jindal Poly eyes $200 mn IPO for thermal unit
•CNI to launch biz newspaper; scrip soars
•Raw sugar surges to 30-yr high on Australia cyclone
•Trai releases consultation paper on 'green' telecom
•Ayurvedic drugs face EU ban from May 1
•NHAI makes Facebook debut
•Nippon, Sumitomo merging to create No.2 steelmaker
•News Corp launches iPad newspaper at 14 cents/day

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