HSBC has downgraded Indian shares to underweight from neutral,citing the recent rally and downside risks to growth. The bank says that after the recent bounce,India looks relatively expensive and is most exposed to growth adjustments.
DoT panels spectrum report by Sept 19
A DoT panel will submit its report by September 19 on Trais recommended floor price for the third round of spectrum auction.
Jet-Etihad deal challenged in SC
The Jet-Etihad Airways deal Monday reached the Supreme Court with BJP leader Subramanian Swamy filing a petition seeking to quash the nod given to it by the Centre.
RBI relaxes norms for outbound foreigners
The RBI has permitted foreigners to carry up to Rs 10,000 beyond immigration desk to the duty free area in airports,but they will have to dispose the Indian currency before boarding their flights.
MK Goel takes over reins of PFC
MK Goel has assumed charge of chairman and managing director of the Power Finance Corporation. He continues to hold charge as director (commercial) in the company. An electrical engineer,Goel joined the companys board in 2007.