Monsoon progress halted again over west coast, An itinerant western disturbance with associated dry north-westerlies was seen interfering with the progress of the monsoon along the west coast on Thursday. http://www.thehindubusinessline.com/2010/06/18/stories/2010061852661900.htm
http://www.thehindubusinessline.com/2010/06/18/stories/2010061853491100.htm Cement sector hit by excess capacity The sharp fall in demand on the back of excess capacity and onset of south-west monsoon may hamper the profitability of cement manufactures for the next few quarters.
Reliance Industries Ltd. should cede its rights to a petroleum exploration block off India’s eastern coast, the Mint newspaper reported, citing a recommendation to the government by the Directorate of Hydrocarbons. The advise was given after the company missed a deadline to declare the block commercial viable, the newspaper reported, without saying where it got the information.
The Securities and Exchange Board of India (SEBI) has banned an equities dealer of HDFC Asset Management from stock market transactions for allegedly leaking information of its trades to three market participants in advance. The trio, too, have been barred from stock market transactions until further notice. In its order late Thursday, the market regulator revealed instances where investors Rajiv Ramniklal Sanghvi, Chandrakant P Mehta and Dipti Paras Mehta placed orders in the same set of stocks, just before those were traded by dealer Nilesh Kapadia on HDFC AMC’s behalf.
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