TopNews

Telecom Minister Mr. A Raja has informed that government will provide more spectrum by the end of November as many telecom service providers are fighting for licenses. The meeting between Telecom Industry representatives and Telecom Minister ended up in clash between CDMA based and GSM service providers.

Mumbai: Indian rupee slipped to its lowest in two weeks today, accompanying the positive behavior of other Asian currencies versus dollar earlier than key U.S. statistics this week, and on worries regarding RBI involvement.

In morning trades, the partially convertible rupee stood at 39.860/865 per dollar, off an early low of 39.90 but still under its last closure (on Monday) of 39.85/86. Markets remained closed on Tuesday for a holiday.

Last week the rupee ascended to a high of 39.62, its all-time peak since April 1998.

Mumbai: Bangalore-based Sobha developers has decided to expand a township project in Haryana with a total investment of Rs 2,000 crore together with realty firm QVC Realty and Chintels India.

The Gurgaon-based community, undertaken as a part of combined expansion agreement, would cover up more than 192 acres, comprising single-family houses, flats, commercial, retail and office space.

The company informed the Bombay Stock Exchange (BSE) that the new project would spread for over 6.5 million sq ft and is situated in segment 106-109.

David Myers, INCAT’s chief financial officer has stated that Tata Technologies will go for an IPO in the coming year (2008) in order to pay off arrears and fund expansion plans.

Tata Technologies, the specialist engineering and design company of the Tata Group had acquired INCAT, the UK-based engineering and design company in 2005 for 53.40 million pounds.

Both Sensex and Nifty were performing well. After opening sturdily, the BSE Sensex has maintained its positive outlook.

At 12:13 p.m., the BSE Sensex stood at 17,892, up 563 points from its last closure. The NSE Nifty was quoting at 5246, up 178 points.

Indian stock markets has touched new record peaks today, as capitalists grabbed power and realty shares amid a sharp rise in foreign capital inflows over the last few days.

Indian financial markets remained closed on Tuesday because of the birth anniversary of Mahatma Gandhi.

A senior commission functionary has stated that the Khadi and Village Industries Commission (KVIC) will establish 16 more ‘Scheme of Fund for Regeneration of Traditional Industries’ centres in the rustic areas, comprising three centres in Maharashtra,.

J S Mishra, KVIC CEO, said in Maharashtra, the centres would be established at Nanded in the Marathwada, Sindhudurg in Konkan and Bhadravati in the Vidarbha. This will raise the total number of KVIC centres to 95.