Briefly Business: Political jitters hit reform hopes,Sensex dips 120 pts

Political jitters hit reform hopes,Sensex dips 120 pts

Written by Agencies | Published:July 21, 2012 12:49 am

Political jitters hit reform hopes,Sensex dips 120 pts

Mumbai: Shares fell on Friday on concerns over differences in the UPA coalition with BSE Sensex dropping by 120.41 points,or 0.70 per cent to 17,158.44,snapping a three-day upsurge.

Tata power,Indonesian firm ink coal supply deal

new delhi: Tata Power has said it has inked a long term coal supply agreement with Indonesian firm — PT Antang Gunung Meratus — to secure fuel for its thermal power plants.

Cos told to file info on unclaimed amounts

New Delhi: The Corporate Affairs Ministry has asked companies to file information about unclaimed and unpaid amounts lying with them,aimed at protecting investors’ interest.

Vodafone revenues down 7.7% to £10.7 billion

london: Hit by slow business growth in Europe as well as India,telecom giant Vodafone has reported 7.7 per cent decline in revenues at £10.7 billion (Rs 92,755 crore) for the quarter ended June 30,2012.

Tata Comm at year’s high on demerger of VSNL land

mumbai: Shares of Tata Communications on Friday surged by over 7 per cent in morning trade,a day after the government approved demerger of surplus VSNL land into a separate company.

Govt to banks,PSUs: Act on graft within 3 months

new delhi: Facing flak over the issue of corruption,the Centre has asked all its ministries,banks and public sector undertakings,to “strictly” follow a time limit of three months in taking action against corrupt officials.

Banks in Libor probe for group settlement

london: A group of banks being probed for manipulating the Libor are looking to pursue a group settlement with regulators rather than face a Barclays-style backlash by going it alone.

Many interested in investing in Kingfisher: Mallya

New Delhi: Kingfisher promoter Vijay Mallya on Friday said many have expressed interest in investing in the debt-ridden airline.

Much would,however,depend on the government’s stand on allowing foreign carriers to pick up stake in domestic airlines,he told reporters,after meeting Finance Secretary RS Gujral,who is also in-charge of the Revenue Department.

“I have been talking to people… Many people are interested. (they have) shown interest in investing in KFA but it all depends on government policies. We are waiting and watching,” Mallya said.

Launch of 800cc car postponed

New Delhi: Maruti Suzuki on Friday said the launch of its new 800 cc small car will be delayed from its proposed schedule during Diwali this year due to the violence at Manesar plant.

“Yes,we have to reschedule the launch of the 800 cc car because of the violence at Manesar plant,” Maruti Suzuki India (MSI) Managing Director Shinzo Nakanishi said. He,however,said if the company is able to recover quickly from the impact,the launch may take place as planned.

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