If you missed our coverage today, here is a quick summary.
MARKETS: Sensex ends above 18K after 6-months; Nifty above 5,500
India's benchmark indices closed at a six month high on Wednesday as bulls took charge of markets. The Sensex surged 353.84 points or 1.98 per cent to 18,202.4. The broader Nifty index advanced 115.9 points or 2.14 per cent to 5,531.95. (Read More)
Meanwhile, a BofA Merrill Lynch survey says that equities are back in vogue as investors over the world have reposed confidence on this asset class and have significantly increased their allocations to emerging market equities. (Read More)
ECONOMY: Not possible to meet Rs 40,000 cr target, says divestment secy
Divestment Secretary Mohammed Haleem Khan on Wednesday conceded it is not possible for the government to meet the Rs40,000 crore divestment target in the current financial year. (Read More)
Meanwhile, running against time to raise Rs 40,000 crore from disinvestment by March-end, the government is planning to move ahead with 5 per cent stake sale in the oil major ONGC through the auction route in the current fiscal.
Eurozone economy shrinks by 0.3 per cent in Q4; has one foot in recession
The 17-nation Eurozone has one foot in recession, according to official figures showing the economy contracted 0.3 percent in the final three months of 2011 from the previous quarter, a clear sign that Europe's debt crisis has not spared any country in the single currency bloc. Greece, Italy are already in a recession. (Read More)
TELECOM: Kapil Sibal announces new Telecom Policy while Essar, Loop get no respite from Supreme Court
India announced a uniform telecom license fee policy under the new telecom policy on Wednesday. Telecom minister Kapil Sibal announced that the telecom regulator will announce a migration path for existing license holders to the uniform license regime. The government also permitted telecom operators to share 2G spectrum. (Read More)
The promoters of Essar and Loop, meanwhile, get no respite in the telecom trial on 2G, as they will have to appear on February 22. The Supreme Court has rejected a petition by the owners that asked for exemption from the hearing later this month. Both companies have been accused of cheating and conspiracy. (Read More)
OIL & GAS: Oil at one month high on halt of Iran crude exports
Oil rose to near $102 a barrel on Wednesday after Iran announced it would stop crude exports to six European countries and investors were heartened from positive developments in Europe's sovereign debt crisis. (Read more)
The sector did not see many good developments in India too as RIL said KG-D6 gas output is likely to dip to an all-time low of 22.60 million cubic meters a day by 2013-14. (Read More)
POWER: Coal India to sign Fuel Supply Agreement for power projects commissioned till Dec 2011
In what will be a positive push for the power sector, Coal India is set to sign fuel supply agreement (FSA) with private power producers by March 2012. It will provide 80 per cent assured supply for next 20 years. Coal India will thus help meet additional supply either through own production or imports, that will help generate 50,000 MW of power. (Read More)
Stock market immediately reacted as Power sector stocks saw a positive jump after PMO tweeted the announcement. (Read More)
IT: Yahoo faces investor mutiny as Asia talks unravel
Yahoo's hopes for a fresh start under a new CEO faded as its closely watched discussions to sell most of its Asian holdings unraveled and a frustrated shareholder announced that he will try to seize four seats on the struggling Internet company's board. (Read More)
BANKING: SBI says it should do a better job at recovering agriculture NPAs
With agriculture emerging as the most stressed segment for the bank, State Bank chief financial officer Diwakar Gupta said the country's largest lender needs to do a “better job” of collecting its dues from the farm sector. (Read More)
AUTO: Volvo rolls out three new variants at lower price points as Brokerages turn bullish on Tata Motors after strong Q3
Swedish carmaker Volvo slashed prices of its three luxury models in India by introducing new variants of the sedan S60, S80 and sports utility vehicle XC60 at introductory price between Rs 23.2 lakh and Rs 35.9 lakh (ex-showroom Delhi). The current prices of these models ranged between Rs 27 lakh and Rs 39.5 lakh. (Read More)
Shares of Tata Motors traded with strong gains Wednesday after the company beat the most optimistic profit estimates in the third quarter. Most brokerage firms turned bullish on the stock after strong performance in the third quarter. Ajay Shethiya, Research Analyst at Centrum Broking told NDTV Profit that the excellent numbers posted by the company were on the back of Jaguar and Land Rover (JLR) profitability. (Read More)
Why are Tata Motors shares on the rise
AVIATION: Use aviation strategically, says IATA official
The representative body of the global airline industry has asked governments of countries like India, which have huge unrealized potential in aviation, to use the sector as a strategic asset and devise policies that spur competitiveness. (Read More)
REAL ESTATE: Godrej Properties, HDIL promoter in talks over Bangalore land deal
Sarang Wadhawan, one of the company's promoters, is looking to sell 12.5 acre land in Bangalore. Realty firm Godrej Properties is reportedly in talks with him to buy this land. Wadhawan is looking to raise Rs 125 crore from the deal, which is likely to be sealed by the end of this month. (Read More)