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Unitech\'s subsidiary to bid for 3G spectrum: SourcesUnitech Wireless, a subsidiary of realty major Unitech, is likely to bid for 3G spectrum and is said to be eyeing Delhi and Mumbai circles, reports CNBCTV18 quoting sources.Source: Moneycontrol Top Headlines | 25 Aug 2008 | 2:09 pm High alert at Singur plantThe plant is completely barricaded and nobody is permitted in the plant. The launch from Singur will be difficult if the violence continues. Policemen and riot control vans have been deployed, and everything is set up to ensure that there is no violence.Source: Moneycontrol Top Headlines | 25 Aug 2008 | 2:00 pm ONGC may share KG gas block with Norway\'s Statoil: SrcsSources at ONGC have told CNBCTV18 that the company may share operatorship of KG gas block with a Norwegian company Statoil Hydro. The source said, the Norwegian company is already a partner in the KG Basin Block. ONGC holds an operating interest in the block, and had farmed out 10% to Statoil Hydro, the source said.Source: Moneycontrol Top Headlines | 25 Aug 2008 | 1:30 pm Underrecoveries of OMCs decline to Rs 430 crore/dayCNBC TV18 learns that underrecoveries of Oil Marketing Companies or OMCs have declined to Rs 430 crore per day as against Rs 630 crore. Underrecoveries of petrol stand at Rs 7 per litre, while that of diesel are at Rs 16.22 per litre. Meanwhile, underrecoveries of IOC have declined to Rs 240 crore per day as against Rs 350 crore.Source: Moneycontrol Top Headlines | 25 Aug 2008 | 1:10 pm Citi lowers FY09 Sensex earnings estimate to 17% vs 20%Citigroup has lowered its FY09 Sensex earnings estimate to 17% versus 20% earlier, reports CNBCTV18 quoting NewsWire18. It has downgraded its earnings estimate of capital goods and autos and upgraded its earnings estimates of energy and metal companies.Source: Moneycontrol Top Headlines | 25 Aug 2008 | 12:57 pm Dishman Pharma eyeing buyout in oncology spaceJR Vyas of Dishman Pharma said that the company is in talks with companies for contracts worth USD 100200 million, Vyas said. The company is looking for acquisition in oncology space to set up Asias largest oncolgical unit for Carbogen Amcis, he said.Source: Moneycontrol Top Headlines | 25 Aug 2008 | 12:38 pm Oil steady as dollar strengthens!Oil prices were steady on Monday in Asia above USD 114 a barrel as a strengthening dollar offset continuing tensions between the US and Russian over the conflict in Georgia.Source: Zee News : Business | 25 Aug 2008 | 12:24 pm Rupee lose 16 paise against dollar in early trade!The Indian rupee turned weak despite a rally in equity markets and dipped by 16 paise to 43.58/59 against the greenback in morning trade on Monday on month-end dollar demand as well as stronger dollar overseas.Source: Zee News : Business | 25 Aug 2008 | 12:24 pm Sensex up 271 pts in early trade!Retaining its upward movement for the second straight session on Monday, the Bombay Stock Exchange benchmark Sensex climbed over 271 points in early trade on fund buying, taking cues from global marketsSource: Zee News : Business | 25 Aug 2008 | 12:24 pm DaiichiRanbaxy deal to be referred to Cabinet PanelDaiichiRanbaxy deal will be referred to Cabinet PanelMoF executives, reports CNBCTV18 quoting Dow Jones. The Cabinet will consider the Ranbaxy deal as it is above the FDI (Foreign Direct Investment) capital of Rs 600 crore.Source: Moneycontrol Top Headlines | 25 Aug 2008 | 12:04 pm Sugar cos want linkage between sugar cane pricesSl Jain, Secretary of ISMA said that all the SAP fixed up by the government till now have been on an ad hoc basis. The Supreme Court has to force the State government to come up with a norm, he said. Vivek Saraogi, MD of Balrampur Chini Mills feels that there should be a linkage between sugar and cane prices.Source: Moneycontrol Top Headlines | 25 Aug 2008 | 11:18 am New IRDA norms to build level playing field: ICICI Pru LifePuneet Nanda, CIO of ICICI Prudential Life Insurance said that the IRDA norms provide greater flexibility and ensure better returns. The IRDA norm review also takes into account better risk management, he said. The new norms are a step towards creating a levelplaying field, he said.Source: Moneycontrol Top Headlines | 25 Aug 2008 | 10:46 am IDBI hikes deposit rates by 25-75 basis pointsMUMBAI (Reuters) - State-run IDBI Ltd has revised upwards its interest rates on deposits with maturities of 91 days and above by 25-75 basis points.Source: Reuters: Money News | 25 Aug 2008 | 10:44 am Now, a virtual reality treadmillBy PTI London: Scientists have developed what they claim is a “virtual reality” treadmill which can trick people into believing that they are moving more slowly than they actually are. According to them, the technology could be of great help to stroke sufferers across the world by encouraging them to move faster on the treadmill, which in turn will speed up their recovery. “The virtual system encourages patients to walk more quickly and for longer, almost without them realizing it. It is not just that they are distracted from the pain; by moving faster than they realize, their body actually feels it less. We are effectively fooling the brain and cheating the body. “It is a lot more fun than traditional rehabilitation and it can actually facilitate a much faster recovery. Our test subjects are usually surprised when I tell them they have improved by up to 20%,” lead scientist Wendy Powell was quoted by ‘The Independent´ as saying. In fact, moving images on a giant screen respond to patients’ efforts on an adapted treadmill. And using a variety of different settings, including urban and rural landscapes, the device creates a virtual world for the patient to “walk” through on the treadmill. This immersion also acts as a distraction, and early research has already shown patients using it have a decreased perception of pain, according to the researchers at Portsmouth University. It may be mentioned that clinical trials on patients are currently taking place in collaboration with Canada-based McGill University and early results are also said to be very encouraging. Source: Tech News - Livemint.com | 25 Aug 2008 | 10:37 am Now, a virtual reality treadmillBy PTI London: Scientists have developed what they claim is a “virtual reality” treadmill which can trick people into believing that they are moving more slowly than they actually are. According to them, the technology could be of great help to stroke sufferers across the world by encouraging them to move faster on the treadmill, which in turn will speed up their recovery. “The virtual system encourages patients to walk more quickly and for longer, almost without them realizing it. It is not just that they are distracted from the pain; by moving faster than they realize, their body actually feels it less. We are effectively fooling the brain and cheating the body. “It is a lot more fun than traditional rehabilitation and it can actually facilitate a much faster recovery. Our test subjects are usually surprised when I tell them they have improved by up to 20%,” lead scientist Wendy Powell was quoted by ‘The Independent´ as saying. In fact, moving images on a giant screen respond to patients’ efforts on an adapted treadmill. And using a variety of different settings, including urban and rural landscapes, the device creates a virtual world for the patient to “walk” through on the treadmill. This immersion also acts as a distraction, and early research has already shown patients using it have a decreased perception of pain, according to the researchers at Portsmouth University. It may be mentioned that clinical trials on patients are currently taking place in collaboration with Canada-based McGill University and early results are also said to be very encouraging. Source: LatestNews-Home - Livemint.com | 25 Aug 2008 | 10:37 am Gold may fall below $700; players eye US GDP data - Economic Times
Source: Google News India - Business | 25 Aug 2008 | 10:32 am Puravankara arm in talks with PE players to raise Rs 750 crPuravankaras subsidiary is in talks with PE players to raise Rs 750 crore, reports NewsWire18. The Puravankara arm will dilute 3040% stake in seven low cost projects, it adds.Source: Moneycontrol Top Headlines | 25 Aug 2008 | 10:32 am Eicher Motors to raise prices of 3 bike modelsMUMBAI (Reuters) - Eicher Motors Ltd on Monday said it will raise prices of three of its 'Royal Enfield' motorbike models from Sept. 1, due to a rise in raw material costs.Source: Reuters: Money News | 25 Aug 2008 | 10:29 am Sensex slowly slides - India Infoline.com
Source: Google News India - Business | 25 Aug 2008 | 10:28 am India set to achieve $40 bn FDI this fiscalPTI New Delhi: India is set to attract foreign direct investment of $40 billion in fiscal 2008-09 with overseas investors betting big on the manufacturing sector in world’s second fastest growing economy. The country received $20 billion foreign direct investment (FDI) between January and June in the calendar 2008 and $10 billion in the first quarter of the current fiscal. “Going by this, achieving $40 billion in 2008-09 does not seem unrealistic,” Secretary in the Department of Industrial Policy and Promotion Ajay Shankar said at a FICCI function. The target for the fiscal is set at $35 billion. The inflows in 2007-08 were $25 billion. Shankar said, though seeing slight moderation in production growth, India has emerged among the preferred destinations for the overseas investors. Automobiles and construction equipment segments are attracting increased interest among investors. The DIPP Secretary expressed hope that the growth outlook in the manufacturing sector would be “more positive” in the next few months. “There was a slight moderation but the industry has undertaken cost-cutting and other productive measures,” he said. Industrial production The Index for Industrial Production (IIP) growth had dropped to 5.4% in June this fiscal from 8.9% a year ago. For the April-June period as well, the IIP rose by 5.2% against 10.3% in the same period last year. Within IIP, manufacturing expanded by 5.9% in June against 9.7% in the same month last year. For the first quarter, the segment grew by 5.6%, compared to 11.1% in the corresponding period in 2007-08. Though the growth outlook for 2008-09 has been lowered to sub-eight per cent by different agencies, India remains among the fastest expanding economies. Source: LatestNews-Home - Livemint.com | 25 Aug 2008 | 10:25 am Tata Metaliks gets iron ore prospecting licence in Maharashtra - Reuters India
Source: Google News India - Business | 25 Aug 2008 | 10:20 am Real estate agents under service tax scannerPTI New Delhi: The service tax department has begun compiling data of real estate agents and tour operators that are not registered with the tax authorities and will soon crack down on tax evaders. “The newly constituted Survey and Investigation Branch (SIB) of the service tax department has started scrutinising municipal corporation records, income tax returns and yellow pages, a commercial directory, to find out the real estate agents, tour operators and other service providers who are not paying service tax,” an official said. “The tour and travel industry and real estate sector, which are highly unorganised, could be major evaders of service tax,” he said. There are about 4,500 registered tour operators in the country and much more are in the unorganised sector who are doing brisk business following a spurt in domestic and overseas travel in the recent past. In Delhi alone there are 800 registered tour operators, industry sources said. Real estate boom Similarly, the boom in the real estate sector has given rise to a number of brokers and middlemen who are doing substantial business in the unorganised sector. “We want to widen the service tax base and pay special attention to these sections which are neither registered with us nor pay service tax. The ground work has already been done with regard to this and we expect to complete the process soon,” the official said. “After completing the exercises of data compilation, the SIB would conduct physical surveys to identify the tax providers who are not registered with the department,” the official said. Pointing out that the exercise would bring tour operators and real estate agents within the service tax net, the official said: “They have a huge revenue potential but at present are escaping the tax net.” In addition to government records and yellow pages, the SIB would also collect information about the service providers from various websites, which post advertisements about such services. Service tax is a major contributor to the government’s indirect tax since its introduction has recorded a significant increase in indirect revenue. In the current fiscal, the service tax collections recorded a growth of nearly 30% at Rs14,838 crore in the first quarter of this fiscal. The government in the current year, as per the budget estimates, is expected to mop up Rs64,460 crore from service. Source: LatestNews-Home - Livemint.com | 25 Aug 2008 | 10:17 am GLOBAL MARKETS - US dollar, Asia stocks rebound but risks remainHONG KONG (Reuters) - The U.S. dollar rose broadly on Monday, hitting a two-year high against sterling, with a downtrend in commodity prices intact, leaving investors scurrying to buy back the currency and sparking a rebound in Asian stocks.Source: Reuters: Money News | 25 Aug 2008 | 10:12 am Gujarat Apollo to issue bonus shares - Business Standard
Source: Google News India - Business | 25 Aug 2008 | 10:12 am Epic Energy commissions project in Chennai - Business Standard
Source: Google News India - Business | 25 Aug 2008 | 10:11 am Indian shares provisionally close 0.1 pct upMUMBAI (Reuters) - Indian shares provisionally ended up 0.14 percent on Monday, after an early rally lost steam following a weak opening in Europe and as oil prices pulled higher after last week's sharp fall.Source: Reuters: Money News | 25 Aug 2008 | 10:10 am Reebok India plans 55 more Classic storesFootwear and apparel major Reebok is planning to open 55 additional stores of its exclusive lifestyle brand Reebok Classics in the country by end of the current fiscal year.Source: Daily News & Analysis: Money News | 25 Aug 2008 | 10:10 am Mobile marketing set to explode in IndiaWith a 300-million mobile subscriber base and 100 million additions a year, India is set to see a mobile marketing explosion, experts say.Source: Daily News & Analysis: Money News | 25 Aug 2008 | 10:09 am Nitin Fire gets Indian quality standard body's nod - Reuters India
Source: Google News India - Business | 25 Aug 2008 | 10:07 am Rajasthan joins bid to woo Tata's Nano project - Sify
Source: Google News India - Business | 25 Aug 2008 | 10:04 am Sanyo to pull out of JV with BPLAFP Tokyo: Japan’s Sanyo Electric Co is pulling the plug on a loss-making joint venture in India producing cathode-ray tube televisions, a spokesman said Monday. Sanyo closed a factory in Bangalore run jointly with Indian electronics company BPL last month and will shift the production to Indonesia, disbanding the joint venture by March next year. “Because of the increasingly fierce competition, we don’t expect the business performance there to improve in the future,” said Sanyo spokesman Ryo Hagiwara, adding that cathode-ray tube TVs no longer meet the market’s demands. Japanese electronics makers have been scaling down, or withdrawing from, production of the old-style box TVs in response to a consumer shift toward sleek new liquid crystal display or plasma televisions. Sanyo has slashed thousands of jobs and sold non-core operations as part of a massive overhaul in recent years, while increasing its focus on rechargeable batteries and environment-friendly technology. The company, which sells 90% of its televisions outside of Japan, said that it hopes to improve efficiency by reducing the number of overseas television production centres that it operates. Sanyo, which now has overseas production bases Indonesia, China, Mexico and Britain, first teamed up with BPL in July 2004, hoping to expand its business in the fast-growing emerging economy. The joint venture posted sales revenue of 4.5 billion yen ($40.89 million) for the fiscal year to March 2008, when it shipped about 400,000 televisions, but its bottom line still remained in the red. The price of Sanyo Electric shares climbed 1.4% to end at 224 yen, while the benchmark Nikkei-225 index gained 1.68%. Source: World Business - Livemint.com | 25 Aug 2008 | 9:59 am Sanyo to pull out of JV with BPLAFP Tokyo: Japan’s Sanyo Electric Co is pulling the plug on a loss-making joint venture in India producing cathode-ray tube televisions, a spokesman said Monday. Sanyo closed a factory in Bangalore run jointly with Indian electronics company BPL last month and will shift the production to Indonesia, disbanding the joint venture by March next year. “Because of the increasingly fierce competition, we don’t expect the business performance there to improve in the future,” said Sanyo spokesman Ryo Hagiwara, adding that cathode-ray tube TVs no longer meet the market’s demands. Japanese electronics makers have been scaling down, or withdrawing from, production of the old-style box TVs in response to a consumer shift toward sleek new liquid crystal display or plasma televisions. Sanyo has slashed thousands of jobs and sold non-core operations as part of a massive overhaul in recent years, while increasing its focus on rechargeable batteries and environment-friendly technology. The company, which sells 90% of its televisions outside of Japan, said that it hopes to improve efficiency by reducing the number of overseas television production centres that it operates. Sanyo, which now has overseas production bases Indonesia, China, Mexico and Britain, first teamed up with BPL in July 2004, hoping to expand its business in the fast-growing emerging economy. The joint venture posted sales revenue of 4.5 billion yen ($40.89 million) for the fiscal year to March 2008, when it shipped about 400,000 televisions, but its bottom line still remained in the red. The price of Sanyo Electric shares climbed 1.4% to end at 224 yen, while the benchmark Nikkei-225 index gained 1.68%. Source: Home - Livemint.com | 25 Aug 2008 | 9:59 am India adds 9.06 million mobile phone users: TraiNew Delhi: Indian phone firms added around 9.06 million phone connections in July 2008 including wired and wireline users, taking the number of phone users in the country to some 334.84 million, the country’s telecom regulator said on Monday. According to a report, issued by Telecom Regulatory Authority of India or Trai, the overall tele-density in the country was at 29.08% at the end of July 2008 as against 28.33% a month before. “The total wireless subscribers including GSM, CDMA and WLL (F) base stood at 296.08 million at the end of July 2008. A total of 9.22 million wireless subscribers have been added during July 2008 as against 8.94 million subscribers added during the month of June 2008,” it said. “In the wireline segment, the subscriber base has slightly decreased to 38.76 million in July 2008 as against 38.92 million subscribers in June 2008,” the report said. “Total broadband subscribers have reached 4.57 million by the end of July 2008 as compared to 4.38million by the end of June 2008,” it noted. Source: LatestNews-Home - Livemint.com | 25 Aug 2008 | 9:43 am Power cuts in Maharashtra may increase by two hours - Times of India
Source: Google News India - Business | 25 Aug 2008 | 9:36 am Reserve Bank finds Rs.30 mn fake currency in State Bank currency chest - Economic Times
Source: Google News India - Business | 25 Aug 2008 | 9:35 am Tata Motors work affected at SingurPTI Singur: Work at the Tata Motors small-car project here was affected on 25 August with majority of contract workers staying away, as a siege by Trinamool Congress cadres continued for the second day. “Attendance of the company officials was normal. But that of the contractual workers was less than normal,” a Tata Motors spokesman told PTI. Already facing delay, the company has been racing against time to meet the October-December quarter-deadline for roll out of Nano. The company is also facing cost overruns. Last week, Tata Sons chairman Ratan Tata threatened to take the project elsewhere despite investing Rs1,500 crore in Singur if violence and work disruptions continued. Supporters of Trinamool Congress and other allies started gathering at the dharna site at the main gate since morning amidst massive police arrangement in and around the area. The agitation, however, remained peaceful and no one was allowed by the Trinamool leadership to go near the Tata Motors plant. The busy Durgapur expressway continued to be closed and traffic was diverted through the Delhi road and GT road, IGP (law and order) Raj Kanojia said in Kolkata. Traffic snarls Kanojia said the closure of the expressway led to a huge traffic snarl. The agitating workers of Trinamool Congress and its other allies had spent the night on the expressway. Mamata Banerjee was seen sitting in the dais and asking her party supporters not to damage the factory wall or premises. “We should agitate peacefully and no harm should be done to the Tata Motors small car factory,” she told her supporters as she did on 24 August. Along with Banerjee, her allies the Socialist Unity Centre of India and Pragotisheel Indira Cogress, formed recently by Somen Mitra, former president of the West Bengal Pradesh Congress Committee, were seen protesting in front of the Tata Motors factory. Yesterday, Banerjee had suggested that the vendor park of the Tata Motors could be shifted to a nearby low-lying area. Source: Home - Livemint.com | 25 Aug 2008 | 9:23 am India gold down, demand continues to stay strongMUMBAI (Reuters) - India's gold prices were down on Monday tracking foreign markets where a stronger dollar prompted investors to exit gold, but dealers said local demand continued to be strong with festivals having put people in the mood to buy.Source: Reuters: Money News | 25 Aug 2008 | 9:21 am PSEB floats SPV for thermal power projectPTI Chandigarh: Having received Central Electricity Authority’s clearance for setting up a 2,640 MW thermal power plant in the state, Punjab State Electricity Board has floated a special purpose vehicle to facilitate the development of the project. “We have floated a SPV — Gidderbaha Power Ltd — which will be a wholly-owned company of PSEB,” a senior PSEB official told PTI. Gidderbaha Power would ensure the acquisition of land, obtain clearances including environmental and forest and attain water and coal linkages, besides carrying out the bidding exercise for the project. PSEB has already issued notification for acquiring 2,431 acres of land. “We expect to spend Rs400-450 crore on the acquisition of the land for this project,” he said. “Proposed to be developed on build-own-operate (BOO) basis through tariff bidding route, bids from global players would be invited next month,” he added. The project is expected to involve an investment of Rs13,200 crore. As part of the state government’s plans to generate 12,244 MW of power in coming years, major thrust has been laid on setting up more power projects in the state. The two other power projects — 1,320 MW Rajpura thermal project and 2,000 MW Talwandi Sabo project are in different stages of development. The Talwandi Sabo project would be formally alloted to Sterlite Energy on 2 September, while for the Rajpura project nine companies, including Reliance Power, Tata Power and Lanco Infratech would submit their price proposals by 7 November. Source: LatestNews-Home - Livemint.com | 25 Aug 2008 | 9:15 am MCX gets nod for starting FX futures - Economic Times
Source: Google News India - Business | 25 Aug 2008 | 9:08 am MCX gets Sebi’s nod for currency futures tradingPTI New Delhi: Country’s largest commodity bourse the Multi Commodity Exchange (MCX) has received ‘in-principal´ approval from market regulator Securities and Exchange Board of India (Sebi) for currency futures trading. “MCX has received Sebi’s in-principal approval for its subsidiary — MCX Stock Exchange Ltd, which had applied for currency derivatives,” MCX promoter Financial Technologies India Ltd (FTIL) informed Bombay Stock Exchange. “MCX Stock Exchange will commence membership enrollment from 26 August,” FTIL said, adding that it has already conducted seven road shows in which over 1,000 representatives from commodity brokers, banks, exporters, stock brokers and corporates have shown interest to become its member. MCX would be the second exchange after the National Stock Exchange to launch exchange traded currency derivatives. Recently, on 7 August, joint panel of RBI and Sebi had decided to introduce currency futures in stock exchangs, to manage volatility in the value of rupee. Currency futures is a forex derivative contract to buy or sell one currency against other on a specified future date, at a price decided in the contract. Source: Home - Livemint.com | 25 Aug 2008 | 9:03 am Oil rises over $1 to top $115 on technical reboundPERTH (Reuters) - Oil rose by more than $1 to top $115 a barrel on Monday, despite a rising U.S. dollar, as traders saw buying opportunities after prices fell over $6 in the previous session.Source: Reuters: Money News | 25 Aug 2008 | 8:58 am Sleepovers with friends? Ease your child into itMy seven-year-old daughter often has friends over for sleepovers. They have a good time. However, when she is invited out to one, she ends up calling us almost in tears, saying she misses us, and we have to go and pick her up by about 11pm. This has happened a number of times, with different friends. The last time, the host mother seemed quite irritated. As we picked up our daughter, she addressed her directly, saying that her daughter was very disappointed that she was leaving and that she should be a little more considerate or not agree to sleepovers till she is much older and not a “baby”. Was she right in saying this? Should I just stop sending my daughter? Funnily, she begs to go each time.  Comfort zone: Give your child something familiar to take along when she next spends time away from you. (Photographh by JupiterImages/ India) You could also ask the host mother to be with the children for a while, till they settle down for the night. Maybe you can give your daughter something that belongs to you—a brooch or any little bedside thing—and tell her to look at it when she misses you. Do also tell her that you, too, miss her when she is away, but love the idea of her having fun. Point out to your daughter that she is missing out on the fun of waking up with her friends the next morning, having breakfast together, etc., when she comes away. Some parents choose to go out for a movie or a dinner when their child goes to spend the night with a friend, and they communicate this to the child. This way, while you are still a phone call away, the child is aware that you’re doing other things, and may then decide not to bail out and ask you to come and get her. But it’s your call, whether you want to do this. Separation and independence from parents are steps that kids must take firmly, without fear and trepidation. So if this takes her a few months longer than it has her friends, don’t fret. Find other times and opportunities in which you and she can be a little apart— that may help her feel secure when she’s away from you. As for the host mother’s comment and admonishment, well, different families deal with such situations differently. In this case, the host chose to spell out her disappointment about your daughter leaving, which is okay—but perhaps the irritation and the “baby” label were a bit unkind. However, instead of shielding your daughter completely from this, it’s a good idea to let her understand that she has disappointed someone who was looking forward to her company. Many grown-ups don’t have this understanding in place, and feel free to cancel programmes and “ditch” appointments without taking other people’s enthusiasm into consideration, the minute they want to bail out for any reason. So, it’s something that we do need to inculcate gradually in our kids. Send your queries to Gouri at learningcurve@livemint.com Source: LatestNews-Home - Livemint.com | 25 Aug 2008 | 8:57 am Diesel may cost Rs57 a litre for industrial usersPTI New Delhi: State-run oil firms have proposed a Rs57 per litre price for diesel they sell to industrial users as against Rs34.80 a litre currently, as use of the fuel in sectors like power generation had seen an unprecedented growth. “Three oil companies have submitted a concept paper to the Petroleum Ministry for differential pricing of diesel for direct consumers like Railways and power producers who they want to charge market price and limit subsidised sales to transport and agriculture sectors,” official sources said. Industrial units like power generators find subsidised diesel cheaper than freely priced fuel oil and naphtha, pushing demand that has forced refiners import the fuel to meet the requirement. Last week, an industry brainstorming meeting with Oil Minister Murli Deora was informed that diesel demand in April-July had grown by 18%, with bulk of the growth coming from industrial users like power plants. Sources said the power sector had seen a 152% rise in demand in the first quarter to 53,000 tonnes, while fisheries and marine sector had seen a near-40% growth. Differential pricing of diesel would reduce the revenue loss by Rs27,202 crore in 2008-09. Mounting losses Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation currently lose Rs16.22 per litre on diesel sales. Half of the projected Rs184,801 crore revenue loss on sale of petrol, diesel, LPG and kerosene in fiscal 2009 is because of diesel. Sources said, the Petroleum Ministry was examining the proposal and it was being deliberated if Cabinet approval would be required for implementing differential pricing scheme. ”During the first four months, diesel demand has grown at 18%,” IOC Chairman Sarthak Behuria had said last week. This unprecedented demand growth has seen domestic output fall short of the requirement and a total of 4.14 million tonnes of diesel may be required to be imported in 2008-09. Of this 1.267 million tonnes has been imported in April-July. Behuria said, while transport and agriculture demand for diesel had grown by 10-12%, consumption by power producers and other industries had risen 30%. Source: Home - Livemint.com | 25 Aug 2008 | 8:55 am MCX gets nod for starting FX futuresMUMBAI (Reuters) - Multi Commodity Exchange of India (MCX), a unit of Financial Technologies, has received an in-principle approval to offer currency futures trading by a newly set up unit, it said on Monday.Source: Reuters: Money News | 25 Aug 2008 | 8:49 am Rupee weakens as dollar's rise overseas weighsMUMBAI (Reuters) - Rupee weakened in afternoon trade on Monday in line with other Asian units as the dollar rose to two-year high against the sterling, but lower oil and firm stocks kept a check on the fall.Source: Reuters: Money News | 25 Aug 2008 | 8:44 am S&P launches new equity index in India for FIIsMUMBAI (Reuters) - Ratings firm Standard & Poor's has on Monday launched the S&P India Select Index aimed at providing foreign funds tradable exposure to Indian equity markets.Source: Reuters: Money News | 25 Aug 2008 | 8:15 am S&P launches new equity index in India for FIIsReuters Mumbai: Ratings firm Standard & Poor’s (S&P) has launched the S&P India Select Index aimed at providing foreign funds tradable exposure to Indian equity markets. “Stocks that have reached the maximum investment limit for foreign institutional investors (FII) have been excluded from the index to reflect lack of access to those scrips for such investors,” it said in a statement. “The key eligibility criteria for the index included a minimum market capitalisation of $500 million and a six-month average daily trading volume of $2 million,” the statement said. The index would be revised every April and October. Source: Home - Livemint.com | 25 Aug 2008 | 8:13 am Police detain Kashmir separatistsSrinagar: Srinagar Police detained two Muslim separatist leaders Mirwaiz Umar Farooq, the chairman of Kashmir’s main separatist alliance, All Parties Hurriyat (Freedom) Conference and hardliner Syed Ali Shah Geelani in overnight raids in the summer capital, just ahead of a major independence rally on Monday. The capital is also confronting the biggest protests in two decades in the disputed Himalayan region. ”Both have been detained for precautionary measures,” a senior police official, who asked to remain anonymous, said. Separatists have said they will defy curfew on Monday to hold a pro-independence rally in Lal Chowk in the heart of Srinagar, raising fears of more deaths and clashes which have galvanised anti-India protests this month. A statement issued by All Parties Hurriyat Conference stated that the people of Kashmir were ready to defy the curfew and carry out the march to protest against Indian occupation. One person was killed and dozens were injured on Sunday when police fired bullets, tear gas and used batons to disperse thousands of pro-independence protesters defying a curfew. Police have killed at least 24 Muslim protesters and more than 500 have been injured in clashes in two weeks of demonstrations in Kashmir Valley. The crisis has strained relations between India and Pakistan, which both claim the region in full but rule it in parts. It has also raised fears of communal tension in the state, split between the Hindu-majority Jammu region and the Muslim Kashmir Valley. A dispute over land for Hindu pilgrims visiting a shrine in Kashmir snowballed into full-scale rallies this month, boosting separatists who want India’s only Muslim-majority region to secede. The recent crisis began after the state government promised to give forest land to a trust that runs Amarnath, a cave shrine visited by Hindu pilgrims. Many Muslims were enraged. The government then rescinded its decision, which in turn angered Hindus in Jammu, the winter capital of the region. The conflict has had little impact on national politics, with a consensus in India that Kashmir should stay part of the country, no matter what. With a general election approaching early next year, political analysts say there is little chance of Prime Minister Manmohan Singh giving any concessions to the protesters, with the government hoping that the demonstrations will peter out. While the protests are huge, the level of violence that has been seen recently in Kashmir pales when compared with the death toll of the past two decades. In Kashmir, more than 43,000 people have been killed in violence involving Indian troops and Muslim militants since 1989. Human rights groups put the toll at about 60,000 dead or missing. Levels of violence in Kashmir have actually been falling in the past few years amid tighter Indian security and a tentative peace process between Pakistan and India. Source: Home - Livemint.com | 25 Aug 2008 | 8:08 am Markets hold on to gains in noon dealsNew Delhi: The markets continue to trade firm in noon deals with the benchmark index hovering at 14,639 levels, up 1.6% or 238 points after a sharp drop in oil prices and stronger Asian shares bolstered sentiment. Similarly, the 50-issue NSE index firmed up 57 points at 4,385 levels. “Technically, Nifty future has a strong resistance now around 4350. Though the daily charts suggest upswing to continue the weekly charts are still technically week. This two way pull could lead to high volatility,” said a technical analyst with Religare Securities. “Its immediate support is now in the 4,312-4,300 region below which 4,280 and 4,250 will be the next supports,” he added. Leading the pack of gainers among the Sensex scrips is DLF Limited. The counter moved up 4.1% or Rs20 in noon deals. State Bank of India, Larsen and Toubro, Jaiprakash Associates, Satyam Computer, Reliance Infra logged smart gains besides ICICI Bank and Reliance Industries. Strength is also visible in most banking counters with Bank of Baroda and State Bank of India surging over 4% each. Axis Bank, Canara Bank, Kotak Mahindra Bank, Union Bank, Yes Bank and HDFC Bank are some of the other notable gainers. Source: Home - Livemint.com | 25 Aug 2008 | 6:48 am Global pulses prices climb on Indian importsBy Rajendra Jadhav / Reuters Mumbai: Large tenders for pulses imports floated by India to augment supply in the festival season have pushed up global prices by 7-8% in a month and may flare up further on thriving local demand, trade officials said. India, the world’s biggest producer, consumer and importer of pulses, is battling rising prices and has asked state-run agencies to import pulses along with private traders to increase supply in the domestic market. The state-run National Agricultural Co-operative Marketing Federation, State Trading Corp of India Ltd, Minerals and Metals Trading Corporation of India and PEC have floated tenders to import 1.03 million tonnes of pulses since June. “These import tenders gave clear signals to international market that there is a big shortfall in India. We are in dire need of food grains. Obviously, exporters increased prices,” said K.C. Bhartiya, president, Pulses Importers Association of India. “Import prices of yellow peas, moong or green gram, tur or pigeon peas and urad or black gram have risen by about 7-8% in a month in the international market,” Bhartiya and private importers said. India allowed duty-free import and banned export of pulses in 2006. The ban was extended till March 2009. A drop in summer-sown or kharif pulses acreage will certainly lead to lower output and may increase India’s dependence on imports, said a senior official at a Mumbai-based private grain importing firm, who declined to be named. Kharif pulses Acreage under kharif pulses fell by 15% to 9.56 million hectares as on 22 August, compared to 11.29 million hectares a year ago, farm ministry data showed. India’s festival season has just started and demand for pulses usually increases during this time. State-run agencies have floated tenders asking bidders to supply the produce during this period, when prices go up. “Traders in Australia and Myanmar have been tracking Indian import orders and are increasing prices considering a shortfall in the biggest buyer’s output due to erratic monsoon,” said Ashwini Bansod, an analyst at M F Global Commodities India Ltd. In the last one month, buying from overseas market has become more expensive than from the domestic market, importers said. “Private players are importing very little quantity. Only government agencies are buying as they are getting subsidy,” said Prem Kogta, an importer based in Jalgaon, Maharashtra. Of the total quantity placed for imports, more than 85% was yellow peas as it is the only pulse available in bulk quantity in the international market. “The government is substituting oranges by importing pineapples. Yellow peas can substitute chana, but can’t substitute moong, urad and tur. People use these pulses in different ways,” Bansod said. India mainly sources yellow peas from Canada, the US and Australia, chana from Australia and Tanzania, while moong, tur and urad come from Myanmar. “Limited quantity is available in international market and there are many buyers like India, Pakistan and Bangladesh. So, we may see more costlier imports,” Bhartiya said. Source: Home - Livemint.com | 25 Aug 2008 | 6:30 am Company Update: Bharati ShipyardBharati has expertise in the field of manufacturing offshore vessels. It is also in the process of building a jack-up rig, completion of which would catapult the company into the niche club of shipyards manufacturing off-shore rigs. The company with the commissioning of its new yards would have the capability to build larger and wider variety of vessels. Apart from this, the company is well-hedged against forex and raw material price fluctuations in turn cushioning its margins and profitability. Bharati has not accepted substantial new orders since the last 2-3 quarters as it awaits completion of its upcoming capacities and clarity on its delivery slots. It has a smaller order book and less aggressive growth plans compared to ABG Shipyard. Hence, we believe that a PE multiple of 7x FY2010E Earnings is justified for the company, which is at a discount to that of ABG. At Rs296, the stock is trading at 7.7x and 6.0x its FY2009E and FY2010E earnings, respectively. We see value in the stock on account of burgeoning global shipbuilding demand and the play-safe stance of the company, which leads to assurance of steady revenue and earnings growth. We initiate coverage on the stock, with a 12-month TARGET PRICE of Rs346. Source: LatestNews-Home - Livemint.com | 25 Aug 2008 | 6:21 am Nikkei snaps four-day losing streakReuters Tokyo: Japan’s Nikkei stock average rose 1.7% on Monday, its biggest one-day percentage gain in two weeks, with Honda Motor Co leading the market up after a sharp fall in oil prices temporarily soothed economic fears. Banks also forged higher, with Mitsubishi UFJ Financial Group and other megabanks all gaining more than 4 percent, after US financial stocks rose on hopes that Lehman Brothers may attract a major investor. The benchmark Nikkei gained 212.62 points, rising to 12,878.66 to snap a four-day losing streak. The broader Topix rose 1.9% to 1,239.25. Both had earlier risen over 2%. Source: Home - Livemint.com | 25 Aug 2008 | 6:01 am Indian bond yields at 2-week low as oil dropsReuters Mumbai: Indian federal bond yields fell to their lowest in two weeks on Monday on expectations a sharp drop in oil prices could ease pressure on the government to raise state—set fuel prices. The yield on the 10—year benchmark bond was at 8.98%, compared with Friday’s close of 9.06%. In early trade, it hit 8.94%, its lowest since 12 August. “Bonds will largely follow movement in crude prices,” a dealer with a state-run bank said. “Investors will closely follow where inflation is headed in the coming weeks and that would determine bond prices,” he said. US light crude for October delivery was trading below $115 a barrel, now down more than 20% since its peak of above $147 struck in mid—July. The government raised prices of petrol, diesel and cooking gas in early June, when crude prices were hovering above $120 a barrel, and that pushed the wholesale prices index into double digits. Annual inflation was at 12.63% on 9 August, its highest since annual numbers in the current series became available in 1995, and analysts have said it could rise to as high as 14%. The data for 16 August is due on Thursday. In order to quell inflation pressures, the central bank has aggressively tightened its monetary policy since June. In its last review at the end of July, it raised the repo rate, at which it lends cash to banks, by 50 basis points, and also said it was raising the cash reserve ratio by 25 basis points from 30 August. Source: Home - Livemint.com | 25 Aug 2008 | 5:53 am Auto parts cos look to other segments to beat downturnMUMBAI (Reuters) - Top Indian auto parts makers, caught between a global auto slowdown and a drop in volumes for the first time in 3 years at home, are branching out into industrial and rail segments and trying to boost sales in Europe and Japan.Source: Reuters: Money News | 25 Aug 2008 | 5:02 am Stock Review: Indian HotelsIndian Hotels Company offers the most diversified play on domestic tourism industry with presence in major leisure and business destinations as well as offerings in both luxury and mid market segments. The company has chalked out healthy expansion plans which would add about 2,500 rooms on a consolidated basis over next three years. However, we believe Average Room Rates (ARRs) could dampen gains from volume expansion as major cities like Mumbai and Delhi would see only a moderate tariff growth while Bangalore is expected to witness decline in room rentals in FY09. With reasonable valuations (P/E of 10.8x on our FY10E earnings), downside risks to the stock appear limited. We maintain our MARKET PERFORMER stance on the company. Source: LatestNews-Home - Livemint.com | 25 Aug 2008 | 4:17 am India Infoline puts SELL on ICICI BankICICI Bank reported a decline of 6% in its net profits for Q1FY09, primarily due to a large Rs590 crore treasury loss compared to Rs190 crore gain in the corresponding period last year. With economic headwinds unlikely to ease in the near term, banking stocks will continue to remain under pressure. ICICI Bank, being a leader among the banking space is likely to underperform led by concerns over sustainability of NIMs, slowing credit growth and rising levels of NPLs. Many banks are guilty of aggressive loan portfolio build up during the last few years resulting in higher levels of NPLs. Marketing of exotic derivatives to small corporates is a case in point. Going ahead, performance of core assets such as SME loans, vehicle loans and housing loans would also be under threat as interest rates continue to mount and demand slows down. We recommend a SELL with a target price of Rs615. Source: LatestNews-Home - Livemint.com | 25 Aug 2008 | 4:13 am BNP Paribas Securities keeps BUY on Sesa GoaIncreased global supplies from existing mines and additional supplies from new mines globally are expected to put pressure on iron ore pricing. About 400m tonnes of new iron ore capacities are slated to come on-line over the period 2008-2010 in comparison to 340m tonnes of corresponding increase in demand for iron ore over the same period. We have revised our EPS estimate upward by 45.9%, 34.3% and 48.5% respectively for FY09, FY10 and FY11 respectively. Higher volume, better performance of the coke business, and lowering of effective tax rate are the prime reasons for the upward revision. However, higher royalty, increase in freight rates and other costs should increase operating cost for Sesa by ~50% over FY08. We are maintaining our target price of Rs210 even as our revised EPS for FY09 and FY10 are higher. Our 12-month target price is based on 6x our FY10 EPS estimate of Rs35.36 in comparison to 8.0x FY10 EPS earlier. This is also in line with the current valuation of the peer group, which is trading at 5.7x FY10E EPS. Recent transaction multiples for acquisitions in the iron ore mining industry also signify an in-line valuation for Sesa at $10/tonne for its reserves. As the current reserves of Sesa will last only for the next seven to eight years, we have used DCF to arrive at a fair price estimate of Rs220 by using a long term average realization of $70/tonne and a WACC of 19%. Our estimates do not include any potential acquisition of new mines using the cash on the balance sheet. Source: LatestNews-Home - Livemint.com | 25 Aug 2008 | 3:21 am Market likely to move in a tight bandGlobal markets could set the short-term direction. When you sense that the market is going to be range-bound for some time, you have a dilemma. But when the fundamental economic indicators turn wobbly, then your dilemma is compounded. To top ...Source: Business Line - Home Page | 25 Aug 2008 | 12:00 am Gold under the mercy of dollar, oil pricesMay get support from bulls if the price falls to around $800/oz. Mumbai, Aug. 24 Across the board, commodity prices have moved indiscriminately in recent weeks, raising debates over the basic causes of such volatility. Belief is now gaining ...Source: Business Line - Home Page | 25 Aug 2008 | 12:00 am Future Capital Hold (Rs 356.60): BuyWe recommend a buy in Future Capital Holdings from a short-term perspective. It is clearly evident from the charts of Future Capital Holdings that it had been on an intermediate-term downtrend from its February high of Rs 1,190 to its ...Source: Business Line - Home Page | 25 Aug 2008 | 12:00 am Power import policy on cards to boost hydel inflowsPrivate firms may have a larger role in tapping Himalayan-rim nations. New Delhi, Aug. 24 The Centre is working on a power import policy to step up hydropower development in the Himalayan-rim countries for facilitating electricity inflows into ...Source: Business Line - Home Page | 25 Aug 2008 | 12:00 am Day Trading GuideThe analysis and opinion expressed in these columns are based on the technical analysis of the past price behaviour. The stop-loss level provided with the recommendation is important. The original view would stand negated if the stop-loss level ...Source: Business Line - Home Page | 25 Aug 2008 | 12:00 am ‘India’s Turn’: An optimist’s viewDr Arvind Subramanian, a well-known US-based Indian economist, has published a thought-provoking book on India’s macroeconomic developments. Dr Subramanian is a Senior Research Fellow of the Peterson Institute for International Affairs in ...Source: Business Line - Home Page | 25 Aug 2008 | 12:00 am Sportspersons brought under ‘professional services’, to pay more taxNew Delhi, Aug. 24 Sportspersons have been unconditionally brought under the ambit of tax deduction at source (TDS) at a higher rate, with the Central Board of Direct Taxes (CBDT) now categorising their services in relation to sports ...Source: Business Line - Home Page | 25 Aug 2008 | 12:00 am Banks entering private equity space to increase fee incomeSee opportunities in using capital market expertise, existing network. Mumbai, Aug. 24 An increasing number of banks are floating private equity (PE) funds in order to add to their non-interest income. This gives them the opportunity to ...Source: Business Line - Home Page | 25 Aug 2008 | 12:00 am Cos willing to pay more to hire for transformational servicesCosts offset by higher values, larger deals they bring in. Bangalore, Aug. 24 A skilled workforce, essential for transformational services that is now the new mantra, is pushing up costs for the Indian IT vendors. But the companies ...Source: Business Line - Home Page | 25 Aug 2008 | 12:00 am Global shipping: Drifting into recession?Is world shipping heading for recession? It is too early to predict anything firmly at this moment but the indications appear ominous. And traditionally, as everyone knows, shipping has been the leading ...Source: Business Line - Home Page | 25 Aug 2008 | 12:00 am As pink slips fly, joblessness risesIn February, information technology giants Tata Consultancy Services (TCS), IBM, and portal Yahoo flashed pink slips to hundreds of employeesSource: Daily News & Analysis: Money News | 24 Aug 2008 | 10:44 pm Bharti writes to DoT over local dialling, 2-in-1The company had introduced these services some years ago, but had to withdraw them after they came under scrutiny of the government and the telecom regulator.Source: Daily News & Analysis: Money News | 24 Aug 2008 | 10:43 pm IVRCL swears by government, waterHyderabad-based IVRCL Infrastructure and Projects is confident of meeting its guidance of 35% growth and Rs 5,000-crore revenueSource: Daily News & Analysis: Money News | 24 Aug 2008 | 10:41 pm FIIs frown over valuationsDalal Street would like to join the festivities descending on the streets. But its foreign patrons are still not writing the fat cheques yet.Source: Daily News & Analysis: Money News | 24 Aug 2008 | 10:39 pm IT's slowdown pangs may last a whileThe recessionary pain could last longer than IT companies would have us believe.Source: Daily News & Analysis: Money News | 24 Aug 2008 | 10:38 pm Bluechip holdings can't cushion fallHDFC Core & Satellite Fund is an open-ended equity diversified scheme which aims to generate capital appreciation through investment in companiesSource: Daily News & Analysis: Money News | 24 Aug 2008 | 10:27 pm Kanu Gohain set for a fresh extension as DGCALuck has once again favoured the outgoing Director General of Civil Aviation (DGCA) Kanu Gohain. Due to a curious turn of eventsSource: Daily News & Analysis: Money News | 24 Aug 2008 | 10:23 pm Time to rethink your retirement plansFinancial independence is important, but you should also plan for the free time in the golden yearsSource: Daily News & Analysis: Money News | 24 Aug 2008 | 10:16 pm Isro to launch Italian, Algerian satellitesBangalore: Antrix Corp. Ltd, the commercial arm of India’s space agency, has won a pair of deals from Algeria and Italy to launch earth observation satellites next year on the polar satellite launch vehicle, or PSLV, its workhorse rocket. The contract awarded by the Algerian space agency to launch Alsat-2A, a 200kg remote sensing satellite, is the first won by Antrix from an African nation. The Algerian agency has the option to launch a second such satellite. For the Italian space agency Agenzia Spaziale Italiana, Antrix will launch a satellite named IMSAT, which will be the second Italian satellite to be boosted into space by the Indian Space Research Organisation, or Isro, which in April 2007 launched Agile, a 352kg scientific satellite. The Algerian and Italian satellites, besides a 100kg satellite for Nanyang Technological University in Singapore, and Cubesat, a three-satellite package from the Netherlands, would ride piggyback on heavier Indian satellites, said K.R. Sridhara Murthi, managing director of Antrix. He didn’t disclose financial details. Antrix is also in talks with space agencies of South Africa and Nigeria to carry out similar launches, Murthi said. “We are also looking at opportunities bigger than that—remote sensing satellites, where payloads (are) of 800kg or even higher.” Isro offers the home-grown PSLV to carry satellites of up to 1,700kg into low-earth orbit at a cost that’s nearly 30% cheaper than that charged by firms such as International Launch Services, owned by Space Transport Inc. and two Russian organizations, Khrunichev State Research and Production Space Center and RSC Energia. Low-earth orbit is the region above earth between 200km and 2,000km, ideal to place earth observation or remote sensing satellites. India is still a fledgling competitor in the global satellite manufacturing and launch industry, which is expected to grow to $145 billion (Rs6.3 trillion) over 10 years to 2016, from $116 billion in the 10 years to 2006, according to Paris-based research firm Euroconsult. “(Isro’s) benchmark is with international specifications on quality, reliability and credibility of the systems. And then, you are also cost competitive,” said K. Kasturirangan, director of the National Institute of Advanced Studies, a think tank in Bangalore. “The opportunity is just growing.” Source: Tech News - Livemint.com | 24 Aug 2008 | 6:58 pm Lalu's magic relies on tatkal, reclassification to raise revenuesLalu Prasad seldom misses an opportunity to tell the world how he has filled the empty coffers of the Indian Railways in the last four years without raising passenger fares even once.Source: Business Standard | Front Page Headlines | 24 Aug 2008 | 6:44 pm Proxy battle brewing in GHCL ahead of AGMA proxy battle has broken out for control of Gujarat Heavy Chemicals (GHCL), one of Indias oldest chemical companies.Source: Business Standard | Front Page Headlines | 24 Aug 2008 | 6:43 pm Give land opposite Nano factory instead: MamataAllegedly owned by CPI(M) promoters, it is not cultivated, says Trinamool leader. Rally turnout lower than expected.Source: Business Standard | Front Page Headlines | 24 Aug 2008 | 6:42 pm IISc develops sensitive technology for diagnosisBangalore: Physicists at the Indian Institute of Science, or IISc, say they have developed a new technology that can significantly enhance the sensitivity of a class of widely used diagnostics and even facilitate early-stage detection of several diseases, including cancer and cardiovascular disorders. Some 150 existing in vitro diagnostics use a laboratory technique called latex agglutination test, or LAT, which detects antibodies or antigens in a variety of body fluids including blood, saliva and urine. However, the detection limits of such tests are restricted to a certain concentration of the antigen (any foreign substance that generates antibodies in the body), even though there have been attempts to increase detection at low concentrations. The new electro-chemical technology developed by Ajay K. Sood, a professor at IISc’s department of physics, and his team allows detection of an antigen at one-hundredth of present concentrations. This technique allows quantification, so one can tell how old or serious the infection is Applying perpendicular electric field to the confining plates reduces randomness in the movement of particles and induces directed motion which enhances the recognition. “As a result, even low concentrations of the antigen (infection) can be detected,” said Sood. Unlike the present positive or negative diagnosis, this technique allows quantification; that is, one can tell how old or serious the infection is. Sood has tested it on commercial kits for rheumatoid arthritis. Having published his research earlier this year in Clinical Chemistry, Sood has filed a patent application. Sood’s technique was also applied on a yet-to-launch typhoid diagnostics called typhigen-kit, developed by the Defence Research and Development Establishment (DRDE) in Gwalior, which reduced time in the traditional Widal typhoid test from seven days to one. “Using this (Sood’s) technique, sensitivity in typhigen went up dramatically,” said G.P. Rai, joint director, DRDE, whose team has developed the kit and transferred the technology to an Indian diagnostic company. The global in vitro diagnostics market was worth $38 billion (Rs1.65 trillion at present) in 2007 and is expected to grow at 6.7% annually until 2012, according to market research firm RNCOS. The Indian market, currently dominated by services, was worth Rs12,587 crore in 2007, 44% of which was accounted for by diagnostic and pathology lab test services, according to MarketAndResearch. Most of the diagnostics sold in India are technologies licensed from overseas and imported antibodies, said Shama Bhat, chairman and managing director of Bhat Bio-Tech India (P) Ltd in Bangalore. “This (Sood’s) is an ideal technology, but it needs to be made more user-friendly and packaged for an easy read-out (of the findings),” said Bhat. Source: Tech News - Livemint.com | 24 Aug 2008 | 5:52 pm More tools developed to crack cyber crimesPTI Thiruvananthapuram: Law enforcing agencies are now armed with more software tools to fight cyber crimes with a premier centre claiming to have developed them. Emailtracer, CyberCheck, Siman and Calltrack are some of the softwares developed indigenously by the Resource Centre for Cyber Forensic (RCCF) here. RCCF, under the Centre for Development of Advanced Computing (C-DAC), has emerged as the premier national centre for development of investigative tools through authentic analysis of cyber crimes and using well established methods and techniques, C-DAC Chief Administrative Officer P G Gopinath said. Emailtracer, a cyber forensic analysis tool, incorporates graphical features to help investigators easily track sender’s identity in cases of anonymous and threatening emails. It can also be used to retrieve information from mailbox files with extensions. “The device can trace any email received by anyone,” he told PTI. This tool analyses the email header and gives complete details of the sender, including IP address, the key point in finding the culprit, he said. It gives the geographical location of the sender, he said. The cybercheck is a Windows-based application, which allows law enforcement agencies to analyse hard disk content, including deleted files. Source: Tech News - Livemint.com | 24 Aug 2008 | 11:49 am
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