Sensitive Index Fluctuates; Maruti Suzuki Declines, ICICI Bank Advances India’s stocks fluctuated. Maruti
Suzuki India Ltd. fell as foreign investors now need the central
bank’s approval to buy the stock, while ICICI Bank Ltd. rose
after the nation’s tax collections increased.
Indian Oil Hires Three European Banks for Its First Sale of Dollar Bonds Indian Oil Corp., the nation’s
largest state-owned refiner, hired HSBC Holdings Plc, Standard
Chartered Plc and Deutsche Bank AG to help it raise $500 million
from its first overseas bond sale.
D.B. Corp, Owner of India's Second-Most Read Paper, Surges 25% on Debut D.B. Corp Ltd., owner of India’s
second-most read newspaper, surged 25 percent in its Mumbai
trading debut.
Chawla Says Too Much Stimulus `Not Good' for Asia's Third-Largest Economy India’s Finance Secretary Ashok
Chawla said continuing stimulus measures isn’t “good” for the
economy, suggesting the government may roll back some steps as
growth strengthens.
Tea Shortage to Widen This Year as Rising Demand Outpaces Global Supply A global tea shortage may widen this
year and extend into 2011 as a rebound in production in Africa,
Sri Lanka and India trails demand growth, the world’s biggest
tea-plantation company said.
India's Companies to Post First Profit Growth in Five Quarters, BNP Says Indian companies will post their
first earnings increase in five quarters in the three months
ended December on widening margins at automakers and builders,
BNP Paribas said, citing the outlook for 90 companies.
Eicher Motors to Expand Capacity at Enfield Motorcycle Unit, CEO Lal Says Eicher Motors Ltd. said it will spend
as much as 1 billion rupees to expand capacity at its Royal
Enfield motorcycles unit.
Bharat Heavy Wins 420 Million Rupee Order to Build India Solar Power Plant Bharat Heavy Electricals Ltd. won an
order worth 420 million rupees from Karnataka Power Corp. to set
up a 3 megawatt solar power plant in Raichur district, according
to an e-mailed statement.
Gold Rises in London as December's Slide Draws Investors; Platinum Gains Gold rose in London as last month’s
decline, the biggest in more than a year, spurred demand.
Platinum climbed to the highest price since August 2008.
Phoenix Mills Gains in Mumbai Trading After Citigroup Rates Stock `Buy' Phoenix Mills Ltd. rose as much as
4.4 percent in Mumbai trading after the Indian developer was
rated “buy” in new coverage at Citigroup Inc., which said the
company is a “quality” retail- and hotel-asset play.
Service Industries in U.S. Grow Less Than Forecast as Index Rises to 50.1 Service industries in the U.S.
expanded less than forecast in December, indicating the biggest
part of the economy is lagging behind the recovery in
manufacturing.
Metals, Natural Gas Rally as Treasuries Fall for First Time in Three Days Metals rose for a fourth day, orange
juice climbed to a two-year high and natural gas rallied amid
icy weather across the Northern Hemisphere. Oil reached a 14-
month high as the dollar weakened, while Treasuries fell for the
first time in three days.
Pimco's Gross Says Absence of Government `Sugar Daddy' Will Hurt Markets Bill Gross, who runs the world’s
biggest mutual fund at Pacific Investment Management Co., said
asset markets in the U.S. and U.K. may suffer as governments
withdraw stimulus measures.
CFTC's Gensler Says U.S. Should `Explicitly' Regulate Derivatives Dealers The U.S. should “explicitly”
regulate derivatives dealers, said Gary Gensler, who has pushed
Congress to impose new rules on the $300 trillion over-the-
counter derivatives market.
Argentine Central Bank Chief Redrado Fired on $6.6 Billion Reserve Dispute Argentina’s President Cristina
Fernandez de Kirchner fired the head of the central bank,
Martin Redrado, over his failure to back a government plan
to borrow $6.6 billion in reserves to pay debt.
General Motors Cedes U.S. Market Share as Rising Demand Buoys Ford, Toyota General Motors Co. lost U.S. market
share to Ford Motor Co. and Toyota Motor Corp. in December as
the government-controlled automaker failed to take advantage of
improving consumer demand.
source: Bloomberg
