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Showing posts from 2010

DEEWALI IN MARKETS A DAY BEFORE

Diwali sparkles came to stock markets a day early today as the BSE benchmark Sensex closed at an all-time high of 20,893.57 points by gaining almost 428 points on robust buying of blue chips like RIL, SBI and HDFC.
This leaves just 107 points to go for the Sensex to breach the landmark 21,000 points level. The Sensex today closed at 20,893.57 points, supassing the previous record of 20,873.33 achieved on January 8, 2008.
During the session, the index today touched an intra-day high of 20,917.03 points.
Another benchmark index, the NSE Nifty, closed at 6,281.80 points, just six points shy of its record close at 6,287.85 on January 8, 2008.
Following today's rally, the Sensex is just 313 points away from its all-time intra-day peak of 21,206.77 points, scaled on January 10, 2008. Equity analysts were enthusiastic the Sensex will surpass this level tomorrow during Muhurat trading.
Marketmen said the investor sentiment is upbeat after state-run Coal India's stellar deb…

ROTTING FOODGRAINS...NOT EXCUSABLE...

Oct 18 : Ticking off the Centre for the rotting of huge quantities of foodgrains when people are dying of hunger, the Supreme Court today asked what action has been taken against officials responsible for it. Terming the matter as "extremely serious", the apex asked the Centre to ensure no further wastage and gear up to meet the storage required for the ensuing kharif crops. Additional Solicitor General (ASG) Mohan Parasaran drew flak for his argument that only 7000 tonnes of grains had got rotten in Food Corporation of India (FCI) godowns and that 67,539 tonnes were wasted in the godowns owned by States of Haryana and Punjab. "Even if it is 7,000 tonnes how can it happen? Then there is the wastage in two States. It is an extremely serious matter. You compare the wastage world over. The damage done in two States is very high. What action you have taken against the officials? "You are admitting 7000 tonnes have been damaged. People are dying of hunger. You are not p…

THAT'S CHINA...

China which has been operating bullet trains is now developing a new high-speed locomotive that could travel like smaller air planes, logging about 500 km per hour, a top railway official has said. "We want to lead the world in high-speed railway construction," He Huawu, chief engineer of Chinese Ministry of Railways said. China created a world record on June 24, 2008, when the Beijing-Tianjin CRH3 high-speed train hit 394.3 kilometres per hour. Experts however said the 500 km super fast train is still in the research phase. The newer high-speed technology is in its final phase of development. "As long as we can prove that the train can run without slipping at such a high speed, we have achieved our goal. It is just an experiment," Wang Mengshu, a professor at the Tunnel and Underground Engineering Research Centre at Beijing Jiaotong University, told the Global Times. "Our aim is to tell the world that China has the ability to achieve this goal,&q…

HP's Kinnauri shawls get GI tag

The famous Kinnauri shawl of Himachal Pradesh has joined the club of intellectual property right (IPR) protected goods as it has been granted Geographical Indication (GI) tag by the government.
Kinnauri shawl has been registered under the Geographical Indication Act, a spokesman for the Himachal Pradesh Patent Information Centre (HPPIC)--which comes under State Council for Science, Technology and Environment--said today.
Kinnauri shawl is the fourth traditional product of Himachal Pradesh that has been granted GI tag. Kullu shawl, Kangra tea and Chamba Rumal are already in the club of protected goods.
The Registration of Kinnaur shawl under GI would prevent the unauthorised production as well as misuse of the brand name of Kinnauri shawl originating from a place, other than the place of origin.
Any unauthorised use and infringement of the registered Geographical Indication, by producers, other than from the place of origin of these products could attract imprisonment upt…

India's higher growth not translated in reducing hunger

Unlike China, higher economic growth is not translated into a more rapid reduction of hunger in India, which has more hungry people than its neighbouring countries, a US-based policy think-tank said today.
"It is ironic that out of 84 countries, India ranks 67th for having alarming scale of hunger. Higher growth rates in India has not been translated into hunger reduction,"Ashok Gulati,International Food Policy Research Institute (IFPRI) Director Asia, told reporters after the release of the 2010 Global Hunger Index (GHI) here.
China's economy, which is four times bigger than India, has made remarkable progress in reducing hunger. As a result, the country has been ranked at the ninth place, he said.
India's economy grew at 7.4 per cent in 2009-10 fiscal and is expected to touch 8.5 per cent this financial year.
Gulati pointed out China has been successful in expanding its economy fast, with reforms in agriculture followed by manufacturing and services sectors.
"…

Rare Praise

Aug 5 (PTI) The Opposition National Democratic Alliance (NDA) received a rare compliment from Finance Minister Pranab Mukherjee on 5th August when he praised the BJP-led front for its decision to deregulate petroleum prices during its six-year rule. "And I must thank the NDA government, who came to power in 1998 and who took this decision (to free the pricing)," Mukherjee said while replying to a debate on the inflationary pressure on the economy.
Mukherjee said the NDA government's pricing policy, which was later discontinued, helped the country to increase its refining capacity.
The BJP-led NDA government had in 2002 freed petrol and diesel prices, resulting in a revision in rates on the 1st and 16th of every month. The deregulation that began from April 1, 2002, was discontinued in January, 2004, on the eve of the General Election. The deregulation was done as per a roadmap decided in 1998. All other petroleum products other than petrol, diesel, domestic LPG, kerosene…

IRCTC Record

Aug 5 : IRCTC, which could lose its monopoly in the e-ticketing business after a recent decision by Railways, has registered the highest ticket sale on a single day on Tuesday with the figure touching Rs 25.16 crore.
About 5.49 lakh passengers booked 3,16,412 tickets on August 3 through its website which was the highest booking achieved so far since the organisation came into being eight years back, an IRCTC official said today.
Ironically, this comes against the backdrop of Railways deciding to start an e-portal which would also sell rail tickets apart from providing other services. The move could end IRCTC's monopoly in this business.
The official said on August 3, IRCTC also registered another record by selling 27,782 e-tickets in a single hour between 12 pm and 1 pm. It also marked booking of 42 per cent of all railway tickets. The feat also comes in the backdrop of the organisation banning IRCTC's web-based agents from selling e-tickets from 8 am to 9 am after complaints …