Ratan Tata bids farewell: Ratan Tata turned 75 on Friday and stepped down from the post of chairman of Tata group as announced earlier. He wrote a warm farewell letter to all the Tata employees and leading Tata Group leader. He handled USD 100 billion to Cyrus Mistry, the new Chairman.
BSE Sensex ends up 0.08%: The 30-share index BSE Sensex was ended on a flat-to-positive note on the first day of week. The Sensex ended at 19,257.73 up 15.73 points or 0.8 per cent. In the intraday trading it touched the highest mark of 19,237.64 points also dived to low of 19,237.26 on Monday. The BSE FMCG index dipped 0.12 per cent.
Bharti Infratel flop show: The stock on Friday ended at Rs 190.60, 13 percent below its issue price of Rs 220, after touching a low of Rs 188.70. The poor showing underscores investor aversion to richly priced share offerings, as evident from the lack of follow-up buying interest.
12th five year plan (2012-17): Target to achieve 8% Growth rate: India will aim to achieve the growth rate of 8 per cent for its economy in next five years through 12th five year plan (2012-17). The Prime Minister Dr. Manmohan Singh expressed happiness over the target of 8 per cent economics growth in 12th five year plan and termed it as ‘Ambitious’.
The outlook on the "fiscal cliff": coming up at year-end the outlook on "fiscal cliff" is uncertain. Democratic President Barack Obama has said he hopes for a last-minute deal to avert it. That would need to get done soon, with Congress just now coming back from its holiday break.
PC Jeweller closed 11% up on listing day: Jewellery retailer PC Jeweller rose 10.5 percent to close at Rs 149.20 on the National Stock Exchange on Thursday. The stock opened at Rs 137 (which was an intraday low) and hit an intraday high of Rs 154.70 on further buying in second half of trade today.
RBI warns banks: The profitability of banks is likely to come under pressure in the coming quarters in view of deteriorating asset-quality of banks. The RBI said on report that it is mainly on account of the economic slowdown.
CARE lists with 23% premium: Credit Analysis and Research (CARE), the second largest rating agency in India closed at 23% premium on the listing day. The stock rallied 23 percent over its issue price of Rs 750, to close at Rs 922.55 on the National Stock Exchange.