Daily Stock Market News - Oct 27, 2009

Posted by admin in News on Oct 26th, 2009 | no responses

October 27, 2009 :: Daily Indian Stock Market News

RBI lowered the economic growth projection to 6 per cent from the 6.5 percent projected three months ago. At the same time, the forecast on inflation based on the wholesale price index was raised to 3 percent, as against 1.6 percent estimated earlier.
National Aviation Company Ltd (company that runs Air India), has worked out a plan to bring down its aircraft strength of 133 to 95 . Under the plan the airline will sell five aircrafts, put another seven aircrafts on lease and return the leased aircrafts in phases by January 2011.
There is some speculation doing rounds in the telecommunication industry that say Google is looking at broadband wireless access, or BWA, in the country and may participate in the auction with an Indian partner. As an alternative, Google could be just a technology partner to a telecom service provider. Foreign companies can buy up to 74 per cent equity in such a venture.
ICANN, started the initiative for web addresses in scripts other than Latin. This will allow uniform resource locators, as web addresses are called in virtual parlance, in languages other than English, including Hindi, Tamil or Bhojpuri.
Hino Motors Corporation, a Toyota Group company, said on Monday it would launch luxury buses for Indian roads by December. The Indian arm, Hino Motors Sales India Pvt Ltd, has also set a target to sell 700-800 units of heavy trucks and buses before March 2010 and plans to double it by next year.
Wipro Q2 results beat expectations. Net Prifit is up 14.4%
GMR Infrastructure Ltd has said its group company EMCO Energy Ltd has achieved financial closure for its coal-based power plant in Warora, Maharashtra.
In order to prevent operators from hoarding spectrum, the Department of Telecom has decided that it will take back the 3G and broadband radio waves if roll-out obligations are not met.