Re-scheduling of stock market timings due to Sun Outage

Some information for trading members on stock markets, that due to heavy solar activity, the VSAT services are likely to be disrupted from September 24, 2008 to October 08, 2008 (both days inclusive).

It has, therefore, been decided to re-schedule the trading session timings from September 24, 2008 to October 08, 2008 (both days inclusive) as follows:

Session	Start Time	End Time
Log -in	9 : 00 a.m.	9 : 55 a.m.
Continuous	9 : 55 a.m.	11 : 25 a.m.
No trading due to Sun Outage	11 : 25 a.m.	12 : 10 p.m.
Resumption of Continuous Session	12 : 10 p.m.	4 : 15 p.m.
Closing	4 : 15 p.m.	4 : 25 p.m.
Post Closing	4 : 25 p.m.	4 : 45 p.m.
Members Query & 6A/ 7 A reports	4 : 45 p.m	6 : 00 p.m.

Petrol and diesel prices hiked

Adding to the woes of high inflation rates and ever rising, petroleum minister Murali Deora today announced that there will be rise in petrol and diesel prices today onwards.

Petrol will rise by Rs. 5 and diesel by Rs. 3, per litre. LPG is also going the way of price rise, domestic LPG will cost Rs. 50 more now.

A marginal duty cut on crude is also muted, excise duty on petrol and diesel is cut by Rs. 1 and customs duty is made to null from Rs. 5 on crude.

Vodafone outbids other to acquire Hutchison Essar




The worlds second largest mobile operator Vodafone has out bidded the other competitors Reliance Infocomm, Ruias, and Hindujas in a auction to acquire controlling stake in Hutchison Max popularly known as Hutch the fourth largest mobile operator in India.

Vodafone offer gives hutch essar a total value, including debt, of US$ 18.8 billions. Sources said that Hindujas were the highest bidders at US$ 20 billion, but the deal went to Vodafone on other parameters. Reliance bidded below US$ 17 billion despite creating much hype in last month.

Vodafone has managed to stay put the major investors in Hutch the Ruia's of Essar, Analjit Singh and Asim Ghosh who together control 12.26% of the Hutch.

Industry analysts value the bid to be on premium side upto 45%. Effect of this deal has soared the valuation of other indian telcos also.

Mukesh Ambani interview a insight on how Reliance was built

Interesting read of this week is interview of Mukesh Ambani on rediff.com, Mukesh reveals soberly his childhood impressions, his father, early days of reliance, development of competence at reliance, growth in 80-90 and 90-2000 onwards. Obviously hiding much and revealing less.

"We tried to create an open environment. In today's language, we created SOPs and SOCs (standard operating procedures, standard operating conditions) so that everybody was on the same page. "


Read it at part 1 , part 2 and part 3 on rediff.com.