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Dairy
owners threaten to JAIPUR, Oct 14: Jaipur Pashupalak (Milk Dairy) action committee has threatened to stop the milk supply in ....more DSE index crashes 46.61 NEW DELHI, Oct 14: Share prices stepped on the banana peel at the local bourse as a slew of negative .....more
Crorepati games: NEW DELHI, Oct 14: The concept was not new, but the prize amount and the image.....more |
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Forex reserves fall by USD 94 mln to USD 35,340 million MUMBAI, Oct 14: Country’s foreign exchange (forex) reserves have fallen by US dollar 94 million to USD 35,340 million in the week ended October six, 2000 over the previous week.......more Gold goes for NEW DELHI, Oct 14: Gold went on a roller-coster ride on the bullion market today when prices climbed down on stockists offering and lost most of the previous day’s rise to close with losses. Marketmen said sentiment of the market turned bearish as gold prices tumbled down on stockists offering and settled with notable losses......more Petro hike could affect CALCUTTA, Oct 14: The newly appointed Union Minister of State for Chemicals and Fertilisers Satyabrata Mukherjee today expressed.......more |
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Dairy owners threaten to stop milk supply in Jaipur JAIPUR, Oct 14: Jaipur Pashupalak (Milk Dairy) action committee has threatened to stop the milk supply in the state capital during Diwali season if they were asked to leave the city periphery by October 31. About 20,000 milk dairies and one lakh people employed in various jobs of animal husbandry would be left in lurch, if the State Government did not change its stand of evicting them, committee’s convenor Ramesh Kapoor told reporters here today. It would seriously hamper the self-employment process, Kapoor said. JMC has asked the private milk dairy operators to vacate and rehabilitate themselves at the outskirts of the city by October end. It will allow only one or two dairy animals for the domestic use in the city area. The convenor alleged that all the dairy operators were given licenses and huge taxes were being paid by them to the JMC. (PTI) |
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DSE index crashes 46.61 points on bear hammering NEW DELHI, Oct 14: Share prices stepped on the banana peel at the local bourse as a slew of negative news dampened economic outlook during the week ended Friday the 13th. Shares fell to their lowest levels in nearly 17 months and the rupee came close to record lows on stronger oil prices, a downward revision of the country’s ratings outlook by Standard Poor’s (SP) and lower economic growth forecasts by the Centre for Monitoring Indian Economy (CMIE). Bears rammed into the market mauling scrips in the wake of a fresh fall at NASDAQ and rising concerns over the likely introduction of compulsory rolling settlement in actively traded a-group shares. The benchmark Delhi Stock Exchange index (base 1983) crashed by 46.61 points to touch a low of 803.62 points. The major erosion in values of ADRs of Indian firms on the NASDAQ also pulled down sentiments at the local markets. Infy had fallen by 7.24 per cent on wednesday to close at 105.75 dollars. This pulled down the NASDAQ scrip, making the overall sentiment in the market negative. Additionally, with Wipro lowering its projected price for US initial public offering to 52.48 dollars per share from 63.86 dollars, the sentiment at the counter weakened. According to marketmen, the company now expects to raise about 136.3 million dollars, down 18 per cent from the previous expected amount of 166.2 million dollars. The company plans to use the proceeds from the IPO to acquire businesses and other general corporate purposes. The benchmark index plunged by nearly 1.2 per cent on the opening day of the week after stocks finished with widespread losses following selling by foreign institutional investors. Brokers said despite beginning of a fresh weekly settlement, players were not interested in building fresh positions after reports that SEBI was likely to introduce rolling settlement in selective A-group shares in November. They said the system will drastically bring down liquidity on bourses if the new system was implemented. The announcement of good working results and an over 134 per cent increase in net profit of infosys also failed to boost sentiments. Panic selling continued in the market, pulling down the index by another 2.6 per cent and 1.1 per cent on the following two days. SP has revised the outlook on India’s double-‘B’ long-term foreign currency issuer credit rating to stable from positive, citing India’s slow pace of economic reforms. India’s decision-makers, cutting across all major political parties, have been unable to build a consensus in favour of measures to correct weaknesses in public finances and modernise the country’s pervasive and largely unreformed public sector, it said. The CMIE also cut its 2000-01 Gross Domestic Product (GDP) growth estimate to 5.8 per cent from an earlier forecast of seven per cent. The Reserve Bank of India also cautioned that the pace of privatisation and the Government’s funding of the oil pool account would put a burden on the budgetary deficit. RBI has also revised its growth rate in the recent mid-year review of monetary policy lowered growth rate estimate to 6-6.5 per cent from 6.5-7 per cent earlier. The rupee, already weakened by uncertainty over global crude oil prices, extended its slide against the US dollar. However, shares shares pared losses on Thursday as bargain buying helped the battered technology shares creep back into positive territory. Rumours of SEBI deferring the rolling settlement again provided the trigger. Fast Moving Consumer Goods (FMCG) shares such as Nestle, ITC, Smithkline Consumer, Cadbury and Britannia were among the gainers on fund buying in an otherwise downward looking market. However, the cheer was shortlived as fresh hammering of IT scrips and a further fall in rupee value pulled down the market and the index ended the week at 803.62 points, down 46.61 points from the previous week’s closing. Infosys was the most prominent loser shedding Rs 1061 to close at Rs 6489. Wipro lost Rs 414.95 at Rs 2185.05, while SSI shed Rs 281 at Rs 2139, Himachal Futuristic slipped by Rs 270.95 at Rs 1003.10 and NIIT closed at Rs 200 at Rs 1200. Other major losers included Aptech, Dabur India, Digital Equipment, DAQ Software, Global Telesystems, HCL Infosys, Hindustan Lever, Jain Studios, LT, Moser Baer, Nestle India, Pentamedia, Reliance Industries, Shyam Telecom, Silverline and Zee Telefilms. Hero Honda was among the most prominent gainers shooting up by Rs 31 at Rs 901, followed by Bombay Dyeing, which rose on reports that jute baron Arun Bajoria has picked up 14 per cent satake in the company. Its scrip ended at Rs 115, up Rs 16. Other gainers include ITC, Ranbaxy Labs and Dr Reddy’s Laboratory. (UNI) |
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Crorepati games: Appealing to greed in the average Indian NEW DELHI, Oct 14: The concept was not new, but the prize amount and the image of the presenter certainly were. However, when the ratings started affecting other channels, they all woke up to the ‘re-birth’ of megastar Amitabh Bachchan in Star TV’s ‘Kaun Banega Crorepati’. Expectedly, the channels reacted - some almost panicked - and came up with their own versions. Actually, the concept had first come as ‘double o’quits’ more than five years ago on Zee TV, which is Star TV’s biggest rival among the private satellite TV channels. But the amount made Zee TV come up with the ‘Malamaal’ show giving away Rs two lakhs each night, which they claimed was in celebration of their seventh year of telecasts. And now they have come up with ‘Sawaal Dus Crore Ka’ which they claim offers more money and is a purely Desi version and not copy of any other foreign show like ‘Who wants to be a millionaire’. The versatile Anupam Kher who excels in comedy as much as in serious roles has been roped in to present this show. Sabe TV owned by the Adhikari Brothers, have also entered the fray with ‘Jab Khelo Sab Khelo’ which will be presented by their favourite anchorperson Shekhar Suman, who excels in comedy and minickry and promises to lend a lighter touch to the show. But lest interest flags in ‘Kaun Banega Crorepati’ which had forced some channels to shift their prime programming, Star TV first exhibited their first real ‘Crorepati’ (twentyseven-year old Mumbai boy Harshvardhan Nawathe), and now they have recorded a Diwali special in which popular stars Aamir Khan and Sonali Bendre have reportedly won Rs 75 lakhs amongst them. Aamir and Sonali have decided to donate their prizes to Cry and ST Catherine’s home respectively. (the episode will be telecast on October 26). Diwali will also be the time when participants can take their chance in ‘Sawaal Dus Crore Ka’, which is being presented as a ‘Bonus’ on the festive occasion. Doordarshan has denied that it is planning anything to counter these programme (earlier reports had said Australia’s channel nine may produce ‘Greed’ for the national broadcaster). However, it has launched ‘Ye Hi Hai Right Price’ on the lines of Zee TV’s ‘Tol Mol Ke Bol’. Both Zee TV and Sabe claim that their shows are interactive, transparent and totally Indian in concept. Viewers in eleven cities - Delhi, Mumbai, Calcutta, Bangalore, Hyderabad, Ahmedabad, Pune, Ludhiana, Kanpur, Lucknow and Nagpur - will be able to just make a local call in their respective cities to answer the quiz questions and win lakhs of rupees, and periodically win the bumper of Rs 1.25 crore. Zee TV has asked aspirants of the Rs 10 crore prize to either send in their entries by postcard to twelve cities notified by them - Delhi, Mumbai, Calcutta, Patna, Ludhiana, Indore, Jaipur, Lucknow, Ahmedabad, Hyderabad, Nagpur and Bangalore - at postbag 12345 in each city, or enter by logging in to websites zeetelevision.Com, zeenext.Com and zeelearn.Com to vie for the prizes. (UNI) |
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Forex reserves fall by USD 94 mln to USD 35,340 million MUMBAI, Oct 14: Country’s foreign exchange (forex) reserves have fallen by US dollar 94 million to USD 35,340 million in the week ended October six, 2000 over the previous week. The fall in reserves was mainly on account of the Foreign Currency Assets (FCAs) falling by USD 98 million to USD 32,504 million, according to Reserve Bank of India’s latest weekly statistical supplement. Gold reserves, however, were up by USD four million to usd 2,834 million while the special drawing rights remained static at USD two million in the reporting week. FCA expressed in US dollar terms includes the effect of appreciation/depreciation of non-US currencies such as Euro, pound sterling and yen held in the reserves, it said. Loans and advances extended by the RBI to the Central Government increased by Rs 241 crore to Rs 2,526 crore while that to the State Governments was up by Rs 3,139 crore to Rs 3,979 crore in the week ended October six over the previous week, it said. Aggregate deposits of scheduled commercial banks in the month ending September 29 increased by Rs 27,051 crore over the previous month to Rs 8,88,034 crore. Food credit in the same period declined by Rs 505 crore to Rs 32,131 crore while non-food credit was up by Rs 9,984 crore to Rs 4,39,117 crore. (PTI) |
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Gold goes for roller-coster ride NEW DELHI, Oct 14: Gold went on a roller-coster ride on the bullion market today when prices climbed down on stockists offering and lost most of the previous day’s rise to close with losses. Marketmen said sentiment of the market turned bearish as gold prices tumbled down on stockists offering and settled with notable losses. They said silver also followed suit to ease on lack of buying support. Standard gold and ornaments which showed a hefty rise of Rs.90 the previous day, was quoted Rs.50 lower today at Rs.4540 and Rs.4390 per ten gram respectively. Sovereign continued to be asked at last level of Rs.3825 per piece of eight gram. Silver .999 (ready) lost Rs.20 at Rs.7940 per kilo and weekly delivery by Rs.10 at Rs.7940 per kilo. Its coins, on the other hand, traded at unchanged level of Rs.11,200/11,300 for 100 pieces. Following were today’s quotations: Silver .999 (ready) 7940 and delivery 7940. Silver coins buying 11,200 and selling 11,300. Standard gold 4540, ornaments 4390 and sovereign 3825. (PTI) |
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Petro hike could affect
BJP’s prospects in WB CALCUTTA, Oct 14: The newly appointed Union Minister of State for Chemicals and Fertilisers Satyabrata Mukherjee today expressed apprehension that the recent petro price hike could adversely affect the prospects of the BJP in the coming West Bengal Assembly polls. "I can’t say that the hike won’t harm our fortunes, because it would affect the common people. But if the reasons for the increase are properly explained to the people, the damage could be minimised," Mukherjee, a prominent BJP leader, told newspersons here. The Minister said he has seen from personal experience that most people were unaware of the reasons for the increase. "So if we can explain to them the helplessness of the government in view of the rising import bill and its repercussions on the country’s economy, they will understand our problem". Replying to another query, he said the rollback of the hike would be possible only if the prices came down to US $ 22 per barrel in the international market. Asked to comment on Trinamool Congress chief and Railway Minister Mamata Banerjee’s demand in this regard, he said the rise was in the offing for at least a month before the formal announcement. The Union Cabinet and NDA partners had ‘categorically decided’ that a hike was inevitable and it was left to Petroleum Minister Ram Naik to take a decision on the issue, he said. "So, if she (Mamata Banerjee) says that she was not consulted, then it won’t be proper," Mukherjee said. The Minister said the country should lay stress on increasing oil production to decrease its dependence on the international market. "I’ll ask Naik to look into this aspect," he added. (PTI) |
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