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CCI yet to repay Rs 4,000 cr loans taken for cotton buys
The Cotton Corporation of India (CCI) has so far borrowed about Rs 8,000 crore from banks this season to carry out procurement operations on behalf of the government, half of which is yet to be repaid.

The end of patronage
When East first met West, was it the start of the battle between brand vs local craftsmanship?

News of the day

Disinvestment, the buzzword
Disinvestment is a buzzword now. Economic Survey 2009 indicates that the central government would mobilise Rs 25,000 crore from disinvestment of its holdings in state-owned enterprises (or public sector enterprises). The target is abysmally low (at Rs 1,120 crore) in the budget 2009-10 presented by the Finance Minister. We may assume that the target is Rs 25,000 crore for the year 2009-10. The government is committed to disinvestment, although some of its coalition partners and trade unions are against it. There-fore, although there is no debate on the issue within the lead coalition partner, there are some questions that remain unanswered.
Corporate

IT stocks in demand as acquistion clicks

Wipro finally ended at Rs 625, up 1% from the previous close and Infosys settled flat at Rs 2,323. - Markets ignore IIP data, ends in the negative - Shree Renuka at new 52-wk high on overseas acquisition - Sensex ends down 128pts - Markets slip after brief recovery - Sensex slips around 100pts - Asian markets in red TCS was up 1.5% at Rs 654. HCL Technologies soared to a high of Rs 339 and finally ended 4% higher at Rs 654. ______________________________________________________ (Updated at 1054hrs) IT stocks have shown strong gains on the back of acquisitions by IT majors. Today, the index opened at 4,644 and touched a high of 4,698. It is now up 1% at 4,674. The IT index has surged 10% from its close on November 3, 2009. Among the three major deal makers - HCL Technologies has surged 16% in the same period. The stock is up 1% today at Rs 325. Infosys jumped 8% in the past week and is now trading flat at Rs 2,315. Wipro has advanced 1.3% today to Rs 624, taking its gain since November 3, 2009 to 7.6%. TCS is up 1% at Rs 652. Moser Baer has added 1.5% to Rs 81. Rolta India has gained 2.2% at Rs 178. Most other IT stocks are trading in the negative now, in tune with the broader market. Aptech has slipped 1.3% to Rs 186. MphasiS is down 1.5% at Rs 759. NIIT and Oracle Financial Services Software have dropped 1% each to Rs 64 and Rs 2,255, respectively. Indian IT companies have started winning deals once again, after almost a year of the Satyam fiasco. Though the deals were done at lower prices than earlier, analysts believe the prices are stabilizing. HCL Technologies announced three large deals of over $100 million in the first half of this year. Wipro also managed to bag a five-year data centre and application management contract from BJ Wholesale Club. Last month, TCS, Infosys and Wipro each won a part of the $1.5-billion outsourcing contract from British oil and gas firm BP. Moreover, foreign institutional investors have increased their holdings in most large-cap and mid-cap IT stocks like Infosys, TCS and Wipro. Their stake in mid-cap technology stocks such as MphasiS, Patni Computer Services, NIIT Technologies, Aptech and Hexaware Technologies has also risen between 2-4% for the quarter ended September 30.


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