Global News

Asian stocks rebounded from the biggest loss in two weeks, emerging-market currencies gained and bond risk fell amid speculation European leaders will take steps to stem the region’s debt crisis
Treasuries rose, erasing a loss from yesterday, after a Moody’s Investors Service downgrade of Spain’s credit rating added to concern that Europe’s sovereign- debt crisis is spreading.
Federal Reserve Chairman Ben S. Bernanke said the central bank is likely to rely more on public communications as a policy tool as it seeks to provide clarity about the likely future path of interest rates.
Foreign direct investment in China grew in September at the slowest pace in three months, as companies pared spending amid concerns that the global recovery is faltering.
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Domestic News
- GVK Power arm ups stake in MIAL to 50.5%
-SEBI may settle insider trading charges against RIL , by asking the co to pay up to Rs 2052 cr (Mint)
-RIL to bid for EL Paso shale assets in USA (TOI)
- GMR , Lanco power plants face cut in D6 Gas supply; govt to take action as GMR’s Tanir Bavi & Lanco’s Kondapalli unit sell power at market rates (ET)
-Glencore looks to buy 24% in Cronimet Alloys for around Rs 50-75 crore (CMP Rs 138.60, M-cap Rs 170 cr)
- Coromandel International board approves issue of bonus debentures in the ratio of 1 debenture of Rs 15/- for every equity share held
- 3I infotech board meet on October 21 to consider rights issue of shares
-F&O ban: ABG Shipyard, Gitanjali Gems
Listing today
- Flexituff International - Issue Price Rs 155/sh
- Taksheel Solutions - Issue Price Rs 150/sh
Sun Pharma
-Makes offer to buy balance stake in Israel arm Taro subject to approval
-Offers to buy balance Taro stake at $24.50/sh
Talks to resolve Maruti standoff face fresh hurdles
-2nd round of talks Between Maruti management-workers deferred
-Deputy labour commissioner calls for fresh meeting on Wednesday
Coal Ministry says
-Power projects in 12th plan will have to import coal
-Not in position to give coal to power projects in 12th plan
Finance Secretary says
-May consider preferential share allotment for SBI
-No rights issue for SBI capital infusion
-Expect to meet within a week for final decision
-Panel met to discuss PSU bank recapitalisation
Banking Secretary says
-FY12 fund infusion in PSBs seen at Rs 10,000-12,000 crore
- BoB , BoI , Indian Bank and Syndicate Bank will see recapitalisation this fiscal
-Will infuse capital in SBI before March 31
-Current market conditions not conducive for SBI rights issue

Posted in: globle markets,NEWS