Weekly News-7

Submitted by :-

Deepak Gautam

MBA-2 A

News-1

FII inflow to breach Rs 1 trillion mark this year: Analysts

• NEW DELHI: Fund flows from FIIs have crossed the record Rs 97,900-crore mark this year and is all set to breach the magical Rs 1,00,000 crore mark -- for the first time since they were allowed invest here.

• An analysis of the data available with the capital market regulator Securities and Exchange Board of India shows foreign institutional investors (FIIs) have made a net purchasing of stocks worth Rs 97,955.50 crore (USD 21.42 billion) so far in this year.

• And going by the pace in which the inflows is coming in here, market analysts believe in this week only it will breach the Rs 1,00,000 crore mark, for the first time in history.

• Last year, FIIs were the net purchaser of shares worth Rs 83,423 core, the highest ever in rupee terms. During the same year, the stock market benchmark Sensex had recorded a gain of over 80 per cent.

• Interestingly data available with the Sebi shows that for the last five years now, September has seen the highest FII activity in a single month, whether it be inflows or outflows.

News-2

Lalit Modi says Royals, KingsXI termination illegal

• NEW DELHI: Former IPL chairman Lalit Modi today hit out against the BCCI's decision to axe Rajasthan Royals and Kings XI Punjab from the Indian Premier League and said it was "illegal" as the the Board had chosen a path of vengeance.

• Pointing fingers at the Board's secretary N Srinivasan, Modi said: "All illegal things done by Chennai Super Kings and its owners have been overlooked by BCCI. Why? Who is running the show. What has Srinivasan.

• He further alleged that anyone who objects to the president-elect has to face the wrath of the BCCI adding that he is glad not to be a part of the current set up.

News-3

Apple's tablet taking off at breakneck rate

• Apple’s tablet is taking off at a breakneck rate. Analysts now predict up to 40 million will be sold in 2011.

• Forget PCs and netbooks. The iPad will eat into camera and GPS device sales too.

• Early adopters of new consumer electronics typically have plenty of disposable income or spend a lot on gizmos, or both. The iPad is showing signs of extending beyond this base. It looks on track to become the fastest adopted consumer good ever. And that’s really saying something considering the competition includes the ubiquitous DVD player, and Apple’s own hyper-popular iPod and iPhone.

News-4

Strike ends at Arcelor Mittal's Algeria plant

• Workers at steelmaker Arcelor Mittal's Algeria plant resumed work after a strike over pay on Thursday.

• Arcelor Mittal , one of the biggest foreign investors outside Algeria's dominant oil and gas sector, employs 7,200 people at the plant in the town of Annaba in eastern Algeria.

• "We are negotiating with the management over a pay rise," a union member at the plant, who asked not to be named, told Reuters. The strike is the third at the plant this year and follows action in January and June.

• The complex produced about 750,000 tonnes of flat and long steel products in 2009 most of it destined for Algeria's domestic market, the company has said.