MUMBAI - The BSE Sensex on Tuesday surged past the psychologically key level of 27,000 to a third consecutive record high as blue-chips such as HDFC Bank gained after recent data raised hopes about the economy.
MUMBAI - Power cuts hit large areas of Indian financial capital Mumbai on Tuesday following a technical glitch at an electricity generation unit, but back-up generators at banks and brokerages ensured that financial business was largely unaffected.
Indian gold imports and premiums are likely to surge during the rest of the year as buying picks up for the wedding and festival season, the head of the country's biggest gold refiner said on Tuesday. Premiums could jump to $10-$12 an ounce over the global benchmark from the current levels of $4-$5, said MMTC-PAMP Managing Director Rajesh Khosla. Full Article
In his first 100 days, Prime Minister Narendra Modi has protected the food security of millions of Indians on the global arena, but early trends suggest his government's pro-business policy will hurt the environment and the poor. In "100 days review of NDA government" – a report released on Tuesday, civil society groups delivered a mixed verdict on Modi's coalition NDA government. Full Article
Among the companies hoping for tax credits from the business-friendly BJP since its election victory in May is the Indian distributor of the Segway Personal Transporter. The company hopes that the government will recognise the battery-run two-wheeler as a green vehicle, a move that could spur sales of the expensive device in a country where many people today cannot afford it. Full Article
GDP growth of 5.7 percent in the April-June quarter was unexpected in view of the southward drift of India’s economy over the past two years. No wonder it pepped up the government at a time when the ruling coalition is listing its achievements after 100 days in office. The question is where this growth came from and whether it will be sustained in future. Full Article
“Historic Temples in Pakistan: A Call to Conscience” is a book-length attempt to record in pictures the history of an Islamic country’s Hindu past, especially as extremist activity mounts against Pakistan’s religious and ethnic minorities, including Ahmadis, Christians, Sikhs and Shia Muslims. Full Article
Shame. It’s a word I often hear when speaking to women in India, where a combination of patriarchy, misogyny and extreme conservatism makes women feel ashamed of the crimes being committed against them. They are ashamed of being sexually harassed, ashamed for being molested and ashamed after suffering a beating. Full Article
The two-decades-old practice of selectively allocating mines to metal, cement and power producers is illegal, the court ruled. The judges have not yet decided what punishment to hand out. But investors are prepared for the worst, and for good reason: two years ago, the court cancelled the underpriced sale of telecom spectrum, quashing all 122 licenses in one go. Full Article
Singer Carrie Underwood and her pro hockey player husband Mike Fisher are expecting their first child, the couple announced on Twitter on Monday. Full Article