Showing posts with label Mumbai. Show all posts
Showing posts with label Mumbai. Show all posts
Saturday, June 28, 2014
discover india app launched by tourism ministry india
Thursday, September 23, 2010
Celebs at Lakme Fashion Week - II
Tabu in metallic blue to cheer Neeta Lulla at LFW.
The gorgeous Sri Devi spotted at Neeta Lulla's show looking young as ever.
Chitrangada Singh walks the ramp for designer Arpan Vohra.
Yash Chopra, Rani Mukherjee and Tabu with Neeta Lulla.
Mugdha Godse walks for Priya Kataria Puri at LFW.
Sheetal Malhar spotted in a slate-black, ankle length, bikini top dress. The brown, leather, sling bag completes the look.
Jennifer Mayani at LFW.
A guest in stark violet and aqua-blue at the LFW.
A guest in a neatly fitted satin green and white dress with a design resembling that of a turtle's shell.
Source: India Syndicate
Monday, September 20, 2010
Sensex crosses 20,000
Mumbai: The BSE benchmark Sensex shot up by over 135 points to regain the magical 20,000-level in the opening trade today for the first time since January 17, 2008, on spurt in buying of oil and gas, capital goods and banking sector stocks.
The 30-share index of the Bombay Stock Exchange surged by 135.42 points to 20,041.52 in the opening trade, for the first time since January 17, 2008. All the sectoral indices were trading with gains up to 1.30 per cent.
Similarly, the wide-based National Stock Exchange also crossed the crucial 6,000 points to trade 36.40 points higher at 6,016.85 points.
Both indices have regained these levels after almost 32 months. Analysts said sustained inflows of overseas funds, bolstered by fast expanding economy, helped indices to touch the 32-month high.
PREOPEN:Indian shares seen testing 20,000 since Jan 2008
India's main stock index could test 20,000 on Tuesday for the first time since January 2008, bolstered by rising foreign investor interest in the country's fast-expanding economy.
The 30-share BSE index ended up 1.6 percent at 19,906.10 points on Monday, after hitting 19,927.30. It has risen 10.8 percent this month on the back of foreign fund inflows of nearly $3 billion.
Outsourcers will be watched after Finance Minister Pranab Mukherjee said late on Monday India was worried that recent comments by U.S. President Barack Obama could lead to increased protectionism and would raise the issue when G20 leaders meet in South Korea.
The MSCI's measure of Asian markets other than Japan was barely changed at 0251 GMT, while Japan's Nikkei climbed 0.4 percent.
The Nifty India stock futures in Singapore were up 0.7 percent.
STOCKS TO WATCH
* EIH Ltd after the hotel chain said it would hold a meeting of its board of directors on Thursday to consider issue of shares on rights basis.
* Resurgere Mines after the company said its board had planned to meet on Saturday to consider and approve raising funds via equity or debt.
* Navin Fluorine International after the company said it would consider buyback on Friday.
FACTORS TO WATCH
* India rupee retreats from 3-month peak on import demand
* Indian bonds, OIS steady; supply, data key
* FOREX-Aussie dollar rises briefly after RBA minutes
* NYMEX-Crude retreats ahead of Fed meeting
* Stocks rise on S&P 500 rally. dollar slips
* US market ends more than 1 pct higher, S&P clears levels
Source: Indian Express
Wednesday, September 15, 2010
Sensex at 19,500; gold, silver at record levels
Markets up for the 7th day in a row; Sensex gains 155 pts
The 30-share Sensex of the Bombay Stock Exchange added 155.15 points to close at 19,502.11, a level last seen in January 2008. The key index had had gained 1,126 points in previous six days.
Broader National Stock Exchange index Nifty also rose by 65.40 points to 5,860.95. Reliance Industries, which has the maximum weigh in the Sensex, gained Rs 22.70 to settle at Rs 1,010.45, bolstering the market sentiment.
IT stocks were flavour of the day as Infosys, the second-most heaviest among the Sensex stocks rose by Rs 74.20 to end at Rs 3,050.15 and TCS by Rs 19.45 to Rs 913.60. Both touched their record high levels.
Banking and financial company stocks, which had been on the fore-front in last few sessions, turned cautious ahead of the Reserve Bank's credit policy to be announced tomorrow.
The IT sector index gained the most at 2.49 per cent followed by oil and gas index which was up by 1.85 per cent. Shares of major oil companies, including HPCL and ONGC, advanced to all-time highs, driven by buoyant investor sentiment.
Meanwhile, the broad based NSE Nifty climbed by 65.50 or 1.13% at 5,861.05 with 30 components registering rise.
Heavyweights Infosys, Reliance Industries (RIL) and ONGC supported the rally.
Gold surges to record high of Rs 19,500
Gold continued its record-breaking ascent in the national capital today, surging by Rs 300 to Rs 19,500 per 10 grams, while silver hit an all-time high after gaining Rs 370 to Rs 32,400 per kg.
Bullion dealers said the trading sentiment was bullish, amid hectic buying for the ongoing festive and marriage season.
Gold normally witnesses a pick-up in demand in the last quarter, starting from the Rakshabandhan festival and continuing till Dhanteras, which is the most auspicio us day to buy gold according to Hindu mythology.
In the domestic market, gold of 99.5 per cent and 99.5 per cent purity shot up by Rs 300 each to an all-time high of Rs 19,500 and Rs 19,400 per 10 grams, respectively. Sovereigns followed suit and rose by Rs 200 to a record level of Rs 15,200 per piece of eight grams.
In addition, the rise in prices of the precious metals in international markets also pushed up rates in the domestic market, dealers said. Gold in overseas markets, which normally sets the price trend in the domestic markets, rose to a record high of $1,276.50 an ounce, while silver surged to $20.53 an ounce, its highest level since March, 2008.
At the Multi Commodity Exchange counter, the metal for delivery in December traded higher by Rs 37, or 0.19 per cent, to Rs 19,321 per ten grams, a level never seen before. The contract clocked a business volume of 7,398 lots.
Similarly, the gold for October delivery gained Rs 90, or 0.47 per cent, to Rs 19,285 per ten gram, with a business volume of 16,762 lots. Marketmen said increased buying by speculators in tandem with firming global trend mainly led to a rise in gold prices at futures trade here.
The precious metal in global markets rose by $28 to $1,275.70 an ounce last evening. They said expectations of a rise in demand in spot markets for the ongoing festivals and coming marriage season also supported the uptrend.
Globally, gold was a touch softer, but was seen supported by speculation the US Federal Reserve would soon announce more quantitative easing. Some signs that the US economic recovery would be stalling in recent weeks has triggered talk in financial markets of further easing.
That has hurt the dollar's exchange rate against other major currencies and helped boost gold -- also used as a hedge against inflation, which is often triggered by ultra-loose monetary policy.
Spot gold surged more than two per cent to a record $1,274.75 an ounce in the previous session, its biggest one-day gain in four months.
Silver futures at record high, crosses Rs 32K per kg mark
Silver-ready surged by Rs 370 to Rs 32,400 per kg and weekly-based delivery by Rs 320 to Rs 32,040 per kg, levels never seen before. Similarly, silver coins gained Rs 100 to Rs 35,100 for buying and Rs 35,200 for selling of 100 pieces.
Silver was mainly supported by demand from industrial units and coin-makers, while gold prices were driven by strong demand from jewellers and retail customers for the ongoing marriage season. Demand for silver was also driven by record auto sales in the month of August, as the metal is also used in electrical circuit and battery manufacturing.
At the Multi Commodity Exchange counter, silver for March crossed Rs 32,000-level by adding Rs 178, or 0.55 per cent, to trade at an all-time high of Rs 32,250 per kg, with a business turnover of 1,412 lots.
"Apart from firming trend in global markets, boost in seasonal demand in domestic markets on account of festive and marriage season, also helped silver to hit record highs," said an analyst.
Meanwhile, in Asian region silver in spot trading gained 0.3 per cent to $20.53 an ounce, the best level in two and a half year--March 2008. Similarly, the metal for delivery in December moved up by Rs 175, or 0.54 per cent, to Rs 32,139 per kg, with an open interest of 38,381 lots.
Analysts said firming trend in global markets, which generally determine the precious metal prices, mainly buoyed the trading sentiment. In addition, boost in demand on account of festive and marriage season in the domestic markets also gave a push to rising silver futures prices here, they added.
Source: Agencies
Monday, September 13, 2010
Third party motor covers to cost more
Companies have already held talks with transporters to raise the premium for the only segment of the business that is regulated. Now, the companies have started discussions with the regulator - Insurance Regulatory and Development Authority (Irda). A senior official in the regulatory agency told Business Standard the companies have proposed to increase the premium by 75-100 per cent.
"There has been discussion on the issue. But the quantum of increase that has been proposed is not feasible. Industry is yet to come up with a formal proposal," the official said. This will be the first revision in over three years, with the last increase being of the order of 70 per cent.
"What we had asked for was a 150 per cent increase but we had to settle for much less. But given the claims ratio, the business is unsustainable in its present form," a source privy to the discussions told Business Standard.
To ensure the premium reflects the market reality and insurers do not have to seek government's intervention every time they want to increase the premium rates, companies are also contemplating an inflation-linked premium structure through which they can opt for an annual hike.
"The remedy to reduce high claim is to charge the right price. The price was so far borne completely by the public sector companies. But if the prices are not enough, the solution is to either charge actuarially-determined prices, which can be governed by the regulator, or open up so that companies will know what to do. The industry has proposed that Irda prescribes obligations on this, so you can always cherry-pick, or may be, pay a penalty and not underwrite the business," said the chairman of a public sector insurance company.
Apart from increasing the premium, insurance companies are also pitching for changes in third-party claim settlement. For instance, there is a suggestion to amend the Motor Vehicles Act, whose review is underway, to cap the liability.
Within this, insurance companies are of the view that liability of up to a specified amount, say Rs 5 lakh, be covered through the regulated premium. After the specified level, the insured would have to purchase a top-up cover at a market-determined rate.
Another suggestion is to provide for discussion between the insurer and the affected party to arrive at the settlement amount in case of accidents that do not cause grevious injury or those that result in death. If either party does not agree to the settlement amount, they can approach a designated agency, it has been suggested.
Third party motor covers to cost more
On the issue of premium, the exact quantum will be decided shortly. "The industry and the transporters have not settled on one rate. Private players want the pool (for sharing of premium and losses) to be abolished. The claim ratio in third-party motor is unsustainable," said S L Mohan Secretary General of the General Insurance Council, the industry group which also has representation from Irda.
At present insurance companies have a claims ratio of over 125 per cent. This means they are paying more in claims than the premium collected by them.
When the general insurance business, including motor, was freed from the controlled rate regime, the regulator and companies had agreed to stick to a regulated structure for third-party insurance, which is mandatory under the Motor Vehicles Act. The premium for the own-damage part, which covers theft and damage due to accidents, is no longer regulated.
In case of third-party insurance, the premium earned by all companies is pooled and the losses are split proportionately.
Source: Business Standard
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