Mumbai

Shares hit new low for 2008, pare some losses

Shares hit new low for 2008, pare some lossesMumbai, Oct 23 : The Bombay Stock Exchange (BSE) fell to its lowest since June 2006 on Thursday as a global rout of equities raised worries of further foreign investor selling, before some bargain hunting helped the market regain some composure.

Leading private sector firm the Reliance Industries, which reports quarterly results after market hours, was down 3.9 percent at 1,264.70, having earlier fallen as much as 6.4 percent to its lowest since Dec. 2006.

The company is forecast to report a modest 2.2 percent rise in net profit on slimmer refining margins.

Tara Ultimo plans to roll out 50 new retail outlets across country in next two years

Mumbai-headquartered Tara Ultimo, a company manufacturing and retailing jewellery, plans to come up with 50 outlets across India in the next two years.

Sensex falls below 10,000-mark, Rupee also at record low

Sensex falls below 10,000-mark, Rupee also at record lowMumbai, Oct 23 : The benchmark Sensex tumbled by over 488 points and again dipped below the 10,000-mark in early trade on Thursday.

The Indian Rupee also hit a record low of 49.68 against the US dollar at the forex market.

Retail investors dumped stocks due to melting global stock markets and dismal quarterly results by some corporates.

The National Stock Exchange (NSE) index Nifty also tumbled by 147.05 points, or 4.13 per cent to 2,918.10.

Raj Thackeray gets bail till Oct. 24 in Kalyan case

Raj Thackeray Mumbai, Oct 22 : Maharashtra Navnirman Sena (MNS) chief Raj Thackeray has been granted bail till October 24 after a Kalyan court sent him to 14-day judicial custody till November 5 in connection with a case of attack against North Indians.

Meanwhile, the Railway Police is also seeking custody of Raj Thackeray in a case related to destruction of property and have reached the Kalyan court with a warrant in Raj’s name.

Raj Thackeray sent to 14-day judicial custody

MNS chief Raj Thackeray arrestedMumbai, Oct 22 : Maharashtra Navnirman Sena (MNS) chief Raj Thackeray has been sent to 14-day judicial custody till November 5 by a Kalyan court in connection with a case of attack against North Indians.

Raj’s lawyer said that they would apply for bail for the MNS chief. Meanwhile, the Railway Police have also reached the Kalyan court with a warrant in Raj’s name.

Indian stockbroker kills pregnant wife, self over losses

INDIAN CURRENCYNew Delhi - A stockbroker in India's financial capital of Mumbai killed his pregnant wife before committing suicide due to the financial downturn, media reports said Wednesday.

Parag Tanna and his wife Neha were found dead by relatives in the city's Kandivali area Tuesday night, police told CNN-IBN network.

Police suspect that Tanna, who strangled his wife, had huge investments in the stock exchange and that his recent losses drove him to commit suicide.

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