Spot-Fixing Scandal
BCCI chief's son-in-law arrested
Mumbai Police apprehended Gurunath Meiyappan, a key official of the Indian Premier League's (IPL) Chennai franchise, late on Friday in connection with a spot-fixing scandal that has also led to the arrest of three cricketers. Full Article
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MARKET EYE-Citi cuts India to 'underweight', fears disappointment
* Citigroup downgrades India to "underweight" from "neutral", as part of its emerging markets review, saying a rebound in economic growth, corporate risk appetite and the investment cycle may not be as strong as current expectations. * Citigroup adds the "ongoing political battles and the upcoming 2014 elections may make this year noisy." * However, more government reform action, along with easing inflation and falling interest rates should support equities, added the bank. * Citi says Indian shares can at best rise 7 percent more from present levels. (abhishek.vishnoi@thomsonreuters.com /; abhishek.vishnoi.reuters.com@reuters.net)
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