The CBI declared that there is no evidence of SP chief Mulayam Singh Yadav and his kin amassing disproportionate assets, a charge the very same agency had been keen to establish just a year ago.

Mulayam Singh Yadav led Samajwadi Party had changed its stance and extended its support to the Congress-led United Progressive Alliance (UPA) government in the crucial July 22 confidence motion in the Lok Sabha.

The IL&FS Investment Managers (IIML) announced that in its second real estate fund, it has mobilised $895 million (nearly Rs 4,500 crore). This is more than the initial mobilisation target of $750 million and far ahead of the $525 million it got in its first real estate fund. Its first fund was closed in April 2006, during the middle of the five-year long bull rally which had started in 2003.

Archana Hingorani, CEO & ED of the fund house said, "Each of the investors who had invested in its first fund, also invested in the second fund. "

Indian stock markets continued to trade positively on account of heavy buying action witnessed in realty, metal and oil & gas stocks.

Moreover, capital goods, power, telecom and information technology stocks have also posted sharp gains.

Banking, auto stocks have recovered sharply after remaining subdued for a short time. Pharma and consumer durables stocks have also went up.

BSE Midcap and Smallcap index gained 1.12% and 0.80% respectively.

The 30-share index, BSE Sensex today, (Dec 10, 2008), opened with a gain of 153.78 points at 9,316.40.

All the major cement manufacturers have reduced the price of cement by up to Rs 7 per bag due to the government's move to reduce CENVAT by 4%.

Led by the country's largest manufacturer ACC, leading firms like Ambuja, JK Lakshmi, JK Cement, Dalmia Cement and Shree Cement have slashed their rates. Cement is available between Rs 150 and Rs 250 across the country. ACC and Ambuja Cements together, have a capacity of 41 million tonnes (MT), one-fifth of the total domestic market. They have plans to add another 15 MT of fresh capacities by 2010.

The Adnani Group has announced the launch of the Adani Institute of Infrastructure Management (AIIM) at Navrangpura in Ahmedabad. The institute takes off its academic activities with a one-year (fulltime) residential Post Graduate Programme in Infrastructure Development (PGPIM) for executives.