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Economy & Finance:

Economy grows 9% in Q1
GDP Revision Soon; CEA Cautions Against Abrupt Stimulus Withdrawal
Riding on an impressive GDP growth of 9% in the first quarter (April-June), finance
ministry's chief economic adviser Kaushik Basu said on Friday the overall economic
expansion by the end of the current fiscal could be more than 8.5% as projected earlier.

Non-food mfg inflation picking up

Non-food manufacturing inflation in June was 8.6%, higher than 6.6% the previous month,
but food inflation is likely to ease in the next two weeks.

Six countries give I-T dept data on NRI black money

India’s attempts to retrieve the black money its corrupt citizens have stashed abroad are being
helped by some countries. The Income Tax department has compiled a list of 135 individuals
and entities who received more than Rs 1 crore from overseas companies.
The information was culled from data sent by the US, Finland, Japan, South Korea, Denmark
and New Zealand.

Market Buzz

SENSEX 17955.82
0.25% 46.36
NIFTY 5393.90
0.28% 15.15

Top gainers ` Top losers

Company Price %Change
Company Price %Change
TCS 833.65 6.59
Mah and Mah 603.95 -2.00
HCL Tech 373.30 4.38
GAIL 440.60 -1.66
Kotak Mahindra 783.45 2.98
Ambuja Cements 108.85 -1.23
Tata Motors 832.40 2.83
SAIL 198.50 -1.17
Business & Industry:

TCS pips Infy as the most valued IT company in India

Shares of Tata Consultancy Services (TCS) rallied over 6 per cent on the Bombay Stock
Exchange, taking its market capitalisation to Rs 1.62 lakh crore, higher by Rs 3,470 crore
than Infosys' Rs 1.59 lakh crore valuation.

UK Govt may discuss access for its retailers in India

The maiden visit of David Cameron as UK's prime minister to India could well be an
opportunity for British retail giant Tesco.

Essar mulling IPO of Vodafone Essar stake: Sources

Indian steel-to-shipping conglomerate Essar Group has been in talks with banks to explore
options, including an initial public offering, for its stake in telecoms firm Vadafone Essar,
according to three people familiar with the matter.

Reliance Industrial Infra Q1 net profit at Rs 6.5 cr

Reliance Industrial Infrastructure has announced its first quarter results of FY11. It has
reported net profit at Rs 6.5 crore.Income from operations came in at Rs 12.5 crore.

Canara Bank Q1 net profit up 82.42% at Rs 1013 cr

Canara Bank has declared its numbers for the quarter ended June 2010. It has reported net
profit at Rs 1,013 crore as against Rs 555.3 crore, a growth of 82.42% on YoY basi.
Net interest income (NII) rose 33.8% to Rs 1,728 crore from Rs 1,291.49 crore (YoY) and net
interest margin stood at 3.01%.
National:

Sabse bada rupaiya

The Indian rupee will soon have a unique symbol -- a blend of the Devanagri 'Ra' and Roman
'R' -- joining elite currencies like the US dollar, euro, British pound and Japanese yen in
having a distinct identity.

The new symbol, designed by Bombay IIT post-graduate D Udaya Kumar.

Mangalore-based Foradian Technologies Pvt Ltd has created a font called Rupee_Foradian. It
can be downloaded from the company’s blogsite — http://blog.foradian.com — and used for
free.

Krishna on Pillai: Pak wrong to make Hafiz Saeed comparison

Islamabad: After returning to India from Islamabad, External Affairs Minister SM Krishna
finally defended Home secretary GK Pillai, who was attacked by the Pakistani Foreign
Minister during a press briefing on Thursday night that concluded six-hour talks between
Krishna and his Pakistani counterpart, SM Qureshi.
During the press conference, Krishna did not object as Qureshi tried to equate remarks made
by Indian Home Secretary GK Pillai by That of Lashkar-e-Toiba leader Hafiz Saeed .

Micra

Positioned in the B+ car segment, the new Micra, NISSAN PRODUCT is equipped with
some key technological innovations, which are designed to simplify day-to-day life for its
owners. The company is planning to open 30 more dealerships by the end of this fiscal all
over the country. Micra rolls out at a time when the B-segment is abuzz with new launches.
So, Let’s wait and watch

Tata Motors raises Nano prices by 3-4%

Tata Motors said on Friday its Nano cars will be priced 3% to 4% higher due to a steep
increase in input costs.
International:

Iraq suicide bomber kills 43 at army office

BAGHDAD: A suicide bomber killed 43 people at an army office west of Baghdad on Iraq
suicide bomber kills 43 at army office. Another 40 people were wounded in the 8:30 am
(0530 GMT) attack, the officials said.
The bomber struck in Al-Balassim, part of Radwaniyah.

Oppn tamed, Iran prez now turns on clerics

Tehran: Having successfully suppressed the opposition uprising that followed last summer’s
disputed presidential election, President Mahmoud Ahmadinejad and his allies are now
renewing their efforts to marginalize another rival group — Iran’s traditional conservatives.

US eco recovery still halfway, says Buffett

Washington: US President Barack Obama heard a sobering message from Warren Buffett
when he asked for the investment guru’s views about the economic recovery.
Buffet warned Obama the recession created a huge overhang of excess capacity in the
economy that would simply take time to mop up. Obama said Buffett specifically used the
example of the US housing market, noting 1.2 million new homes were built on average per
year in the US as per historic trends.

China’s growth story takes a small pause

Q2 GDP Moderates To 10.3% From 11.9% In Q1
CHINA’S economy cooled in the second quarter (Q2), a slowdown that is likely to extend
over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a
record credit surge to counter the global crisis.

Google posts 24% profit rise in second quarter

Internet giant Google posted a 24 per cent rise in its second quarter profit to USD 1.84 billion,
on the back of an overall recovery in demand for online advertising.
The company had registered a profit of USD 1.48 billion in the second quarter of 2009.

Source- www.timesofindia.com,www.economictimes.indiatimes.com,moneycontrol.com
Date-16th july’2010 to 18th july’2010
Name: Sumit Sharma
Roll No-04
Section -B