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Nokia has identified “serious” buyer for Chennai plant: Tamil Nadu Government
Posted on 11th April 2015
Finnish telecom equipment maker Nokia has identified a “serious” buyer for its manufacturing plant in Chennai, a top Tamil Nadu government official said today.

“Nokia has been telling us that they have identified a very serious buyer, but due to their non-disclosure agreement they are not willing to give out their name,” Tamil Nadu Additional Chief Secretary C V Shankar told reporters here.

BSE Sensex, NSE Nifty up 2.0 pct on Moody’s positive credit outlook
Posted on 11th April 2015
The benchmark BSE Sensex and NSE Nifty rallied for the second week in a row by over 2.0 percent buoyed by across-the-board buying, Moody’s raising country’s credit outlook and speculations that the US Fed may keep interest rates low after weak jobs data.

However, Reserve Bank of India, in its monetary policy on April 7, left the short-term lending rate or repo rate unchanged and also kept the cash reserve ratio and the statutory liquidity ratio static, which weighed on the markets as Sensex closed almost flat on Tuesday.

Sebi revamps securitisation trustee norms
Posted on 11th April 2015
To deepen the securitisation market, the Securities and Exchange Board of India (Sebi) has made it easier for banks and public financial institutions to act as trustees, while a new code of conduct has been put in place to safeguard investors’ interest.

Amending its Securitised Debt Instruments Regulations, Sebi said the move would further develop the market and “rationalise and clarify the role and responsibilities of trustee”.

HDFC cuts home loan rates by 20 bps to 9.9%
Posted on 11th April 2015
After the lending rate cuts by banks, India's top mortgage lender, HDFC, has cut its home loan rate by 20 basis points (bps) to 9.9 per cent with effect from Monday. With this, the gap between the rates offered by HDFC and State Bank of India (SBI) on home loans has widened.

Earlier HDFC gave home loans at 10.10 per cent, while SBI charged 10.15 per cent. The country's largest bank is now offering home loans at 9.95 per cent for women customers and 10 per cent for others.

RBI Governor Raghuram Rajan hints at restructuring new banking licenses
Posted on 10th April 2015
Governor of the Reserve Bank of India (RBI) Raghuram Rajan hinted that in the next two years, the apex bank might issue licenses for setting up of payment banks, small finance banks and possibly a postal bank. Rajan who was speaking at the 11th convocation of the National Institute of Bank Management (NIBM) in Pune also said the existing public sector banks would under go changes.

“The banking sector in the country is full of opportunities and in the next two years we will see a number of changes. We are going to have a whole set of institutions, payment banks, small finance banks and possibly a postal bank. The public sector banks will so undergo tremendous change,” he said. The derivatives market and IT used in banking and by banking correspondents he said will also see a lot of change.

NRI Samba Natarajan appointed CEO of digital division of Singtel in Singapore
Posted on 10th April 2015
SINGAPORE: An NRI has been appointed as the chief executive officer of the digital division of Singapore-based telecom giant Singtel.

Samba Natarajan, 49, has been appointed the chief executive officer of Group Digital Life, Singtel. Natarajan is currently the Managing Director of Digital Enterprise.

Andhra Pradesh encounter: High Court rejects DGP JV Ramudu's report
Posted on 10th April 2015
The Andhra Pradesh High Court on Friday rejected the report submitted by the state Director General of Police JV Ramudu, and directed him to appear in the court later on Friday.

Meanwhile, counsel for the petitioner V Ragunath raised questions about the legality of the FIR which was registered by the Andhra Police. "The court raised two questions. Firstly, how lawful is an FIR registered against a dead person? And secondly which agency is investigating the case. When the DGP himself is a party to the Task Force, how can the investigation be handled by the SDPO?" Raghunath said.

26/11 Mumbai attacks: Zaki-ur-Rehman Lakhvi freed from Pakistan jail
Posted on 10th April 2015
A Pakistani court on Friday freed Zaki-ur-Rehman Lakhvi, accused of being the mastermind in the 26/11 Mumbai terror attacks in 2008 that killed 166 people.

Earlier, Prime Minister Narendra Modi had condemned the prospect of release for the LeT operations commander, while Union Home Minister Rajnath Singh had said that Lakhvi's release would be an "unfortunate and disappointing" development. "India wants talks with Pakistan but the present development (release of Lakhvi) is unfortunate and disappointing," he told reporters.

Broader markets outperform; Idea Cellular up 4%, RComm up 15%
Posted on 10th April 2015
The broader markets outperformed the benchmark indices even as telecom shares rallied despite industry regulator announcing ceiling on tariffs on roaming.

At 2:45PM, the 30-share Sensex was down 42 points at 28,884 and the 50-share Nifty slipped 13 points at 8,766.

NSE midcap index hits record high
Posted on 10th April 2015
Shares of midcap companies are continue at their upward march for the seven straight trading sessions with the National Stock Exchange (NSE) CNX Mid-cap index hit a fresh record high today.

At 1427 hours, CNX Mid-cap index was up 0.60% at 13,608 points, after hitting a new high of 13,631 in intra-day trade. The CNX Nifty was down 0.20% at 8,761.

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