Business

At present, the NHB is wholly-owned by the RBI with a paid-up capital of Rs 450 crore.

The cash will be used by a newly-created fund manager to buy stock in state-run companies.

Kingfisher shares rose more than 2 per cent after the SBI chairman's comments.

The central bank maintained repo (rate at which banks borrow from RBI) at 8.5 per cent.

The BSE Capital Goods, Realty, Bank, Power, Metal and Oil & Gas indices fell 2.5-4.6 per cent.

Trai had issued showcause notices to the firms seeking information based on complaints from subscribers.

The layoffs equal about 2 per cent of Citi's 267,000-strong workforce

The Nifty traded at more than two-week high on account of support from 48 out of 50 shares.

The Commerce Ministry last week set a maximum investment ceiling of 51 per cent in multi-brand retail.

Eur zone ministers failed to resolve fears that the common euro currency might be doomed.

The issue pertains to the pact among major telcos for providing a 3G roaming network on a pan-India basis.

Credit rating agency Standard & Poor's had planned to make the announcement last Friday but postponed it for unknown reasons.

Leading NRI industrialist Lord Swraj Paul ranked 17th in the list in the category of Industry.

Meanwhile, rupee, which tried to recovery in early trade, appreciating to 51.88 to the dollar, stayed below the 52-mark.

The US cautioned that the policies designed to protect the domestic industry would eventually harm India.

India has already said it was willing to join any multilateral effort to resolve the crisis.