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Markets up on GDP numbers, easing Dubai debt concerns
The stock markets rose sharply on Monday on the back of strong gross domestic product (GDP) numbers and firm global cues. The Sensex closed at 16,926, higher by 294 points, and the Nifty re-gained the 5,000 mark to close at 5,026, up 84 points, on a steady day of trade. The Sensex had surpassed the 17,000 mark (17,096) in intra-day trades. generic levitra

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Max India: Funding long-term growth
The company needs to raise funds as it continues to report a loss at the consolidated level.

News of the day

Taking the plunge
Murdoch - pay content: Rupert Murdoch’s promise to end the great news free-for-all is bold but risky. The media mogul is vowing to do at News Corporation what most of his rivals dream of — charge for access to all online news content. The flagging industry has seen profits disappear with the rise of the internet, a trend accelerated by the recession, and needs a powerful player to move first. But even Murdoch will find this endeavour tricky.
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India Eco Summit: ICICI to reduce stake in Firstsource

ICICI Bank today said it would reduce its stake in BPO company Firstsource in a phased manner, even as there are reports of appointment of a merchant banker for exiting from the outsourcing company. - Markets gain on reform buzz, positive news - "Innovations are game-changers" - India Eco Summit: Sharma pitches for stimulus continuation - India Eco Summit: Fortis Healthcare to set up 3 more hospitals - India Eco Summit: "India at bottom half in man-woman equality index" - India Eco Summit: Ispat-Stemcor Rs 1,100-cr project to start soon "There is no real concrete thing of that kind, the only thing is that as per the US Fed guidelines that over a period, in any case, we are regulatorily bound to reduce our stake in some of the companies," ICICI Bank CEO and Managing Director Chanda Kochhar told reporters on the sidelines of India Economic Summit here. That stipulation is there for quite some time, she said adding, "there are no specific steps we are contemplating right now." ICICI Group currently holds 26.6 per cent in Firstsource which provides business process management services across banking and financial services, telecommunications and the healthcare industry. However, there is a time-line which was imposed by the regulators in the US and there is a gradual phased out reduction, she added. According to the reports ICICI Bank along with other investors have appointed Citigroup as merchant banker. Firstsource shares today closed at Rs 36.50, up 2.96 per cent on the Bombay Stock Exchange.


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