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Sensex gains most in 11 weeks, up 4.27%
Stock markets were propelled by robust industrial growth data, the government’s reform initiatives and strong global markets. The Sensex ended the week higher by 690.55 points, or 4.27 per cent, at 16,848.83, while the Nifty closed at 4,998.95, up 202.80 points, or 4.23 per cent.

United Spirits: Little to cheer about
Poor performance from Whyte and Mackay and adverse foreign exchange movements pulled down United Spirits’ consolidated numbers for 2008-09. The liquor firm reported a loss of Rs 410 crore.

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NHPC bets big on Arunachal
State-run National Hydro-electric Power Corporation (NHPC) Limited, the largest hydel power company of the country, is betting big on Arunachal Pradesh which is estimated to have hydro-power potential of more than 50,000 megawatt(Mw).
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Govt to introduce Food Security Bill soon

The government today said it will soon introduce a Bill to enact a Food Security law that will provide 25 kg of rice and/or wheat at Rs 3 to each family below the poverty line - a key poll promise of the Congress that heads the ruling coalition. - Budget lackluster; disappointed K"taka, says Yeddyurappa - Small businesses exempted from book keeping - PSU stocks wealth erodes by Rs 82,000 cr on Budget day - Pension fund ind welcomes move to exempt NPS Trust from STT - Govt slashes customs duty on wind power equipment to 5% - Make India FDI friendly to bridge resource gap: S P Hinduja Presenting the Union Budget 2009-10, Finance Minister Pranab Mukherjee said, the Bill will soon be introduced after consultation with different stakeholders. A draft Food Security Bill will be put up on the website of the Ministry of Food and Public Distribution for public debate on this issue, he added. President Pratibha Patil had, on June 4, said a National Food Security Act would be formulated whereby each BPL family would be entitled by law to get 25 kg of rice or wheat per month at Rs 3 a kg, a promise made by the Congress before general elections 2009. At present, the Centre provides 35 kg of rice or wheat per month to each BPL family. Wheat is supplied at Rs 4.15 per kg while rice at Rs 5.65 a kg to over four crore families living below the poverty line. The Centre has enough foodgrain in its buffer stock to implement this law. On the back of bumper foodgrain output and higher minimum support prices, the government has procured a record of over 250 lakh tonnes of wheat and over 300 lakh tonnes of rice till July 3 this marketing season.


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