Airfares between Mumbai and Delhi soared to Rs. 35,000 for last minute bookings due to high demand and limited availability. An airline CEO said fares routinely increase during peak seasons due to supply and demand factors, but the current situation between Delhi and Mumbai was unprecedented. Former telecom minister A. Raja tried to suppress a Comptroller and Auditor General report on the 2G spectrum scam that accused him of ignoring advice and indulging in favoritism, causing a loss of Rs. 1.77 trillion to the government. Vedanta secured $6 billion in financing structured over 1.5 to 3 years to fund its acquisition of Cairn India. Bank of India's board approved raising Rs
2. Mumbai-Delhi airfare soars to Rs
35,000
1. Passengers buying tickets on the date of travel or
a day or two earlier on this sector in the past few
days have seen one-way fares on full service
carriers skyrocket to Rs 16,000-20,000 in
economy, and Rs 20,000-35,000 for business
class!
2. An airline CEO said that while fares routinely rise
in peak season due to demand-supply equation,
Delhi-Mumbai was witnessing an unprecedented
situation.
(http://economictimes.indiatimes.com/news/news-by-industry/transportation/airlines-/-
aviation/Mumbai-Delhi-airfare-soars-to-Rs-35000/articleshow/6938638.cms)
3. 2G scam: Just before exit, Raja tried
to kill CAG report
1. The report, which accused Mr Raja of flouting
almost every rule in the book, ignoring advice from
the prime minister down and indulging in blatant
favouritism while awarding mobile licences to
mostly undeserving companies causing a loss of
nearly Rs1,77,000 crore to the government, was
tabled in Parliament on November 16.
(http://economictimes.indiatimes.com/news/news-by-industry/telecom/2G-scam-Just-before-exit-Raja-tried-
to-kill-CAG-report/articleshow/6957426.cms)
4. Vedanta seals $6 bn financing for
Cairn India deal
1. London-listed Vedanta said in a statement the
financing would be structured in four tranches,
with maturities of between 18 months and three
years.
2. The bank consortium comprises Barclays Capital,
Citi, Credit Suisse, Goldman Sachs, J.P. Morgan,
Morgan Stanley, Royal Bank of Scotland and
Standard Chartered.
(http://economictimes.indiatimes.com/news/news-by-industry/energy/oil--gas/Vedanta-seals-6-bn-
financing-for-Cairn-India-deal/articleshow/6953457.cms)
5. BoI gets enabling resolution to
raise Rs 10,236cr
1. The Bank’s board met earlier this week and has
given an enabling resolution for the bank to raise
Rs 10,236 crore via tier I as well as tier II capital. It
is learnt that the Bank is looking at raising about
Rs 3,409 crore of tier I capital and Rs 6,507 crore
of upper tier II capital. This tier II capital will
perhaps be in the form of bonds while the tier I
capital would be in the form of equity capital.
(http://www.moneycontrol.com/news/cnbc-tv18-comments/boi-gets-enabling-resolution-to-raise-rs-
10236cr-sources_500304.html)
6. Dell Q3 net income doubles to $822
mn, revenue up 19%
1. The company's revenue rose to USD 15.39 billion
in the third quarter ended October 29, 2010, from
USD 12.89 billion in the same quarter last fiscal,
translating into a 19 per cent gain.
2. The company's revenue rose to USD 15.39 billion
in the third quarter ended October 29, 2010, from
USD 12.89 billion in the same quarter last fiscal,
translating into a 19 per cent gain.
(http://economictimes.indiatimes.com/tech/hardware/Dell-Q3-net-income-doubles-to-822-mn-revenue-up-
19/articleshow/6953952.cms)
7. CIL is India's third most valued firm;
mcap at Rs 2,09, 671 cr
1. State-run Coal India has become the third most
powerful Indian company with a total market
capitalisation (m-cap) of Rs 2,09,671.57 crore and
is only lagging behind RIL and ONGC.
2. The coal behemoth added another feather to its
cap last week when it replaced IT giant Tata
Consultancy Services (TCS) to become the
country's third most coveted firm.
3. CIL added Rs 7,611.21 crore to its valuation, which
on Friday stood at Rs 2,09,671.57 crore.
(http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/metals--mining/CIL-
is-Indias-third-most-valued-firm-mcap-at-Rs-209-671-cr/articleshow/6963661.cms)
8. Market Watch
Top Gainers (Previous Week)
Company Group Previous Close (Rs) Current Price (Rs) % Change
Top Losers (Previous Week)
(http://money.rediff.com/)
Educomp
Solutions
A 512.60 605.85 + 18.19
Bharti Airtel A 306.05 328.85 + 7.45
Hind. Copper A 407.20 334.75 -17.79
IndiabullsFinSer
vice
A 225.45 186.95 -17.08
