WEEKLY NEWS

GOLD FUTURES HIT CRUCIAL 20K-LEVEL

FIRST TIME ON GLOBAL CUES

Gold surged to hit a crucial Rs 20,000 per ten gram level for the first time in futures trade on Monday on hectic buying by speculators, tracking strong global trend.

At the Multi Commodity Exchange counter, gold for June- month delivery surged by Rs 132 to hit a record high of Rs 20,007 per ten gram, with a volume of one lot.

Similarly, the metal for delivery in December gained Rs 90, or 0.46 per cent, to Rs 19,619 per ten gram, with a turnover of three lots

INFOSYS Q2 NET RISES 16.7% TO RS

1,737 CRORE

Infosys, which counts the BT Group and BP among

its top customers said its net profit for the second

quarter rose to Rs 1,737 crore, up 16.7% compared

to the preceding June period. Revenues during the

quarter to September were Rs 6,947

crore, reporting an annual growth of 24.4%.

Its revenues in the year ending March 2011 will be

between $5.95 billion-$6 billion, up 25.6% to 26.8%

from the previous year.

RBI RATE HIKE SEEN AFTER SEPTEMBER

INFLATION RISES TO 8.62%

The annual rate of inflation based on the revamped wholesale price index based rose to 8.62% in September from 8.51% in August.

The central bank has already raised policy rates by 125 basis points in five equal amounts this calendar and was expected to pause, but sticky inflation could force it to continue with monetary tightening.

RBI may lift rates by 25 bps in its November 2 policy review.

CWG A HIT, BUT PROBE GRAFT: TOI POLL

England , Australia and Scotland were close to

pulling out of the Games over security fears and

the Village mess, but the intervention of Delhi CM

Sheila Dikshit led to a change of heart.

88% say India now a sporting nation’

The rich medal haul and India finishing second to

Australia in the tally of gold medals have clearly

captured the imagination of many.

CONTD………

88% expressed the view that India has

arrived as a sporting nation estimate that

sport buffs may not yet share. The success

of the Games also seems to have whetted

the appetite for more such mega sporting

events. When asked if India should now

make a bid for the Olympics in 2020, 82%.

The most common response—voiced by

33% of those polled—was poor

infrastructure .