Financial Technologies fixes Book Closure for first interim dividend, final dividend

Financial Technologies India Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from August 25, 2008 to August 28, 2008 (both days inclusive) for the purpose of 20th Annual General Meeting (AGM) of the Company to be held on August 28, 2008 and also for the payment of 1st Interim Dividend (F.Y. 2008-09) & Final Dividend (F.Y. 2007-08).

Indian IT sector set to be 2nd largest

Indian IT industry may be passing through a rough patch because of a slowdown in the US economy and high inflation rates, but this stage will pass. India will continue to drive the global IT market for the next few years. In fact, it will emerge as the second most important IT industry in the world after the US in terms of revenue and employment," says a study. "India will create the second largest IT services labour pool after the US within the next seven to eight years. That''s not all, domestic IT industry''s contribution to our GDP is likely to rise from 0.8% in 2006-07 to 2.65% by 2015-16."

This has been forecasted by a yet to be released white paper ''India''s Role in the Globalization of the IT Industry'' by Evalueserve, a KPO. It says, "by 2015-2016, the number of professionals working in the IT industry will grow ten-fold (from 2001-2002) and the total revenue will grow 22 times. This means, the IT industry is likely to employ 3,750,000 professionals and record $193.1 billion in revenue by 2015-16.

While in the last decade, IT services exports have been growing at 32% annually. Evalueserve estimates this growth rate will taper off and become around 20% in the next seven to eight years. The reason: rising wages, lack of high quality talent, and IT jobs relocating to other low-cost destinations in Eastern Europe and Latin America. The paper thus concludes: First, by 2016 India will have the second highest number of IT professionals in the world after the US. In fact, US will employ between 1.25 to 1.33 times more professionals than India. Second, even in 2016, the US IT industry will generate approximately $810 billion in annual revenue, which would be almost five times the revenue of the Indian IT industry.

Do You Want To Learn About Internet Marketing?

If you have a struggling internet business, you are probably facing the difficult task of how to attract visitors to your website at a price you can afford. Indeed, internet marketing is a challenge, and it takes years of persistence. There are many affordable ways to get traffic to your site. For now, we will outline the most practical ways for you to market your online business without having to spend a great deal of money.

The most important task is search engine submission and optimization. There are many different search engines and directories on the internet where you can submit your web site. You need to sign up for a monthly submission plan with a credible search engine submission service. There are hundreds of these submission services on the internet; you can find them by doing a search on Google.
However, be wary of submission services that claim to be able to submit your site to 75,000 search engines. These unscrupulous submitters will submit your website to FFA pages and bogus link pages that can actually get you banned permanently from the search engines. You should only do business with submission services that submit only to the major search engines and directories.

Search engine optimization (SEO) is even more important. To optimize a site, you need to maximize your keyword density and optimize the positioning for the words or phrases for which you want to be listed. And, you need to use proper Meta tags so that the search engines can interpret your web pages.

If you do not know how to optimize your web site, you should search for an optimization consultant on Google. Avoid SEO experts who want to charge you $1,000 per month or more. Their goal is to bleed you dry before you figure out that they really can not help improve your ranking. Stick to providers who will optimize your site for a reasonable fee.

More important than SEO is link popularity. Link popularity is the number of web sites that currently link to your site. The more inbound links you acquire, the higher your search engine ranking will be.

There are several ways you can increase your number of inbound links. You can submit your site to free directories, or join a link exchange and trade links with other sites, or, you can author articles and press releases and submit them to article directories. When webmasters looking for free content place your article on their site, they must link back to your website.

If you are not patient enough to wait for your search engine ranking to improve, you can attract visitors to your web site right away by using pay-per-click (PPC). With PPC, you pay a certain cost per click to have an ad for your web page run at or near the top of the search engines. This can be extremely costly and ineffective. It is not uncommon for webmasters to blow thousands of dollars on PPC advertising and make only a few sales.

The best way to promote your site, if you are actually selling something, is through an affiliate program. You need to provide an affiliate code to other online merchants so that they will place your banner on their site; every time you make a sale that resulted from an affiliate referral, the affiliate gets a commission. You will have to consult with an experienced programmer who can set up the program so that the affiliate codes can be tracked properly.

Some internet companies have thousands of affiliates, and get all the business they would ever need or want this way; and it costs you nothing. To recruit affiliates, you should submit your affiliate program to directories where you can list your affiliate program for free or for a small price. The best way to find affiliates is by listing your program on forums or message boards frequented by webmasters who are looking to generate additional revenue for their online business.

I hope this information will help you with your internet marketing efforts. No website can become an overnight sensation; it takes time and effort. But, if you work diligently and follow each of the procedures outlined in the article, you should do fine.

About the Author: Jim Pretin is the owner of forms4free.com, a service that helps programmers make an HTML form.

Neyveli Lignite Corporation stocks likely to benefit MF scheme

Share prices of Neyveli Lignite Corporation went up by 2.27% to Rs. 166.50 reported at BSE at 10.12 a.m. on 7 November 2007 against previous day close of Rs. 162.80. Tata Dividend Yield Fund (G) is likely to gain as it has the highest percentage hold of the stocks of the company compared to its peer groups who have invested in the stocks of the company. Tata Dividend Yield Fund (G) has 5.30% of its total portfolio size invested in the stocks of the company as on 31 October 2007. The scheme holds 8.30 lakh units of the company in October 2007 compared to its peer groups who have invested in the stocks of the company. It is followed by Birla Dividend Yield Plus (G) (2.72% of its portfolio), JM Arbitrage Advantage Fund (G) (1.37%) as on October 2007. DSP ML Savings Plus Fund Aggressive (G) was holding 57,800 units on 30 September 2007, has sold all its shares as on 31 October 2007 and thus less likely to gain. DSP ML Savings Plus Fund Moderate (G) was holding 56,210 units on 30 September 2007 has sold all its shares as on 31 October 2007 and thus less likely to benefit.

Glenmark to separate generic business

Glenmark Pharmaceuticals is planned for a major restructuring exercise. The company is hiving off its generics business to a new company Glenmark Generics. As the generic business grows at high speed, he says it is best to hive it off into a new company Glenmark Generics, which will then get listed in the markets next year. At present, over 35 per cent of Glenmark''s revenues come from generics and API business. The new company, Glenmark Generics will handle the development, manufacture, marketing of generic formulation and API businesses. It will concentrate on drugs going off patent but the best mantra for the company''s growth is to go the acquisition way.

Tata, One Equity likely to join hands for Jaguar buy

Tata''s bid for the legendary British car brands Jaguar and Land Rover (JLR) is hotting up again in the corporate corridors. Tata Motors and One Equity Partners are tipped to be the front runners as the bidders get whittled down. But now there is a new twist to the acquisition story. There might be an alliance between the two parties for a joint bid to avoid any conflict of interest as well as cementing a strong undefeatable bid for JLR. Tata Motors had reportedly signed on JP Morgan and Citi as advisors on it bids. One Equity Partners is the private equity arm of JP Morgan fronted by Jac Nasser. The shortlisted bidders are now initiating talks with Unite, the workers union that controls the workforce at JLR. The unions have ensured that Ford adds a clause to the deal that guarantees long term contracts to Ford run engine and component suppliers to JLR, which would also mean no job cuts in the entire JLR pipeline.

IOC looks at stake acquisitions in Africa

Indian Oil Corporation (IOC), the country''s largest crude oil refiner and marketer of petroleum products, is in negotiations with various African countries for acquiring stake in discovered oil and gas blocks. They are in negotiations with Nigeria and some other African countries for exploration and production blocks. The company has also decided to increase its crude oil imports from Nigeria from 2 million tonnes per annum to 3 million tonnes. Global oil companies such as Brazil''s Petrobras, Italian ENI and Norway-based NorskHydro have previously followed the same route to buy stake in oil blocks operated by Oil and Natural Gas Corporation (ONGC) in India. IOC is keen on purchasing stake in refineries in Africa. It will, however, buy stake only if the refinery is bundled with an oil or gas block. Separately, IOC has offered to infuse in a gas-based petrochemicals plant and for setting up a liquefied natural gas facility in Mozambique. IOC has also agreed to help increase the liquefied petroleum gas storage capacity in Mauritius. IOC already retails petrol and diesel in Mauritius through its fully owned subsidiary Indian Oil (Mauritius).

SAIL plans processing plant in HP

Steel Authority of India Ltd (SAIL) is planning a steel processing plant at Nahan in Himachal Pradesh. Steel Minister Ram Vilas Paswan said in Chandigarh the plant was targeted to facilitate the industrial development in the states of Himachal Pradesh and Punjab. The unit will have a capacity of 50,000 tonnes per annum. It will entail an investment of about Rs 100 crore and be executed by the public sector steel giant SAIL. The traditional steel industry of Punjab at Mandi Gobindgarh and Batala has been marginalised due to obsolete technology.

Sensex hits all-time high above 16,000

The market opened with a bang, with both the niche indices BSE Sensex and S&P CNX Nifty striking all time high in opening trade. While the BSE Sensex propelled above the 16,100 mark, the S&P CNX Nifty conquered all time high above 4,650

The rally was triggered by the US Federal Reserve announced a 50 basis points cut in fed funds rate to 4.75% from 5.25% on Tuesday, 18 September 2007. Asian markets rallied today, 19 September 2007, after the Fed decision.

At 10:21 IST, the 30-shares BSE Sensex was up 386.64 points or 2.47% to 16,055.76. It opened with a sharp 271.67 point upward gap at 15,940.79 and advanced further to hit an all time high of 16,116.73. It previous all time high was 15,868.85 hit on 24 July 2007.

The S&P CNX Nifty was up 114.80 points or 2.53% to 4,461. It struck an time high of 4,677.70

All the 30-members from Sensex pack advanced.

Bank and financial shares rose on the reckoning that the Fed move could put pressure on RBI to loosen its monetary policy. India’s top private sector mortgage lender in terms of revenue Housing Development Corporation (HDFC) surged 3.85% to Rs 2265. It was the top gainer from Sensex pack.

ICICI Bank (up 2.91% to Rs 952), HDFC Bank (up 3.90% to Rs 1278), and State Bank of India (up 3.65% to Rs 1755.15), edged higher

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) rose 2.33% to Rs 2106.35. It also struck an all time high of Rs 2120. As per recent reports, RIL is foraying in shipbuilding and dredging business with two separate companies. It plans to invest around $1 billion each in two companies and has begun talks with international majors for a strategic tie-up for the dredging business

Meanwhile, the Left-UPA Committee on the nuclear deal will meet for the third time today, 19 September 2007 amid a fresh warning from the CPI(M) against implementing the pact and to keep it on hold for at least six months.

Asian markets surged today, 19 September 2007 tracking overnight gains on Wall Street. Hong Kong's Hang Seng (up 3.58% at 25,455.59), Japan's Nikkei (up 3.18% at 16,304.69), Singapore's Straits Times (up 3.07% at 3,584.55), South Korea's Seoul Composite (up 3.27% at 1,898.86) and Taiwan's Taiwan Weighted (up 1.16% at 9,003.36) surged.

Wall Street shares rallied yesterday, 18 September 2007 after the Federal Reserve cut its benchmark interest rate by a larger-than-expected 0.5%. The Dow Jones industrial average soared 335.97 points, or 2.51%, to 13,739.39. This was its biggest surge since 2 April 2003. The blue-chip index is now only about 1.9% below its record close of 14,000.41, reached in mid-July. The Standard & Poor's 500 index rose 43.13 points, or 2.92%, to 1,519.78. The Nasdaq Composite index gained 70 points, or 2.71%, to 2,651.66.

Crude oil climbed above $82 a barrel on Wednesday, 19 September 2007 near a record reached a day earlier after the US Federal Reserve slashed interest rates to calm worries over economic growth ahead of peak winter fuel demand. US light crude for October delivery rose 82 cents to $82.33 a barrel, after hitting a record of $82.38 yesterday, 18 September 2007. London Brent crude gained 72 cents to trade at $78.31 a barrel.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 23.38 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 232.93 crore on Tuesday, 18 September 2007

The BSE 30-share Sensex advanced up 164.69 points or 1.06% at 15,669.12, on Tuesday 18 September 2007. The S&P CNX Nifty rose 51.55 points or 1.15% at 4,546.20, on that day.

Sensex gallops 651 points

The market soared to record closing with high turnover. It opened with a bang and kept on advancing during the course of the trading session as buying continued for index pivotals. Short covering might also have propelled the market higher to some extent. The total turnover on BSE crossed Rs 7,000 crore mark.

Shares from across sectors and market capitalisation participated in the rally. Sugar shares were star of the day’s trading session as they surged on frenzied buying after Agriculture Minister Sharad Pawar said the government plans to give more fiscal incentives to sugar mills.

The rally on the bourses today was triggered by the US Federal Reserve announcing a 50 basis points cut in fed funds rate to 4.75% from 5.25% on Tuesday, 18 September 2007, easing concerns about housing slump driving the world's largest economy into recession. Asian markets, which opened before Indian market, rallied today, 19 September 2007, after the Fed decision. All European indices which opened after Indian market were also trading with gains.

The 30-shares BSE Sensex surged 651.29 points or 4.16% to 16,320.41, as per provisional closing. It opened with a sharp 271.67 point upward gap at 15,940.79 and advanced further to hit an all-time high of 16,335.30. Its previous all-time high was 15,868.85 hit on 24 July 2007.

The S&P CNX Nifty jumped 188.80 points or 4.15% to 4,735. It struck an time high of 4,739.

As per provisional closing, the BSE Mid-Cap index rose 1.90% to 7,117.71 after hitting an all time high of 7,120.91. The BSE Small-Cap index hit an all time high of 8,943.23. It settled 1.04% higher to 8,872.11. But both these indices underperformed the Sensex

The total turnover on BSE crossed Rs 7,000 crore mark. It spiked in the last hour of trade. BSE clocked a turnover of Rs 7,405 crore as compared to Rs 5785 crore 14:30 IST.

Sugar shares were star of the day’s trading session as they surged on frenzied buying after Agriculture Minister Sharad Pawar said the government plans to give more fiscal incentives to sugar mills. All of them saw a phenomenal spurt in volumes.

Dwarikesh Sugar (up 20% to Rs 66.60), Sakthi Sugar (up 20% to Rs 92.70), Triveni Engineering (up 22.68% to Rs 135.50), Balrampur Chini Mills (up 24.31% to Rs 83.60), Shree Renuka Sugars (up 24.68% to Rs 686.10), and Bajaj Hindustan (up 21.76% to Rs 178.50) surged.

According to president of the Indian Sugar Mills Association, India plans to increase exports next year beginning 1 October 2007 and may ship as much as half of the sweetener in its raw form. As per reports, India may export 3.5 million to 4 million tonnes of sugar next year. The record crop this year prompted the government to more than double its reserves to 5 million tonnes, and subsidize exports to prevent a glut.

All the 30-members from Sensex pack advanced.

India’s largest listed cellular services provider by sales Bharti Airtel jumped 6.93% to Rs 890.20 on 2.91 lakh shares after its Sri Lankan unit signed a $150 million contract with China's Huawei Technologies Co to build and manage mobile infrastructure in the island nation over three years. It was the top gainer from Sensex pack.

Bank and financial shares rallied on the reckoning that the Fed move could put pressure on RBI to loosen its monetary policy. India’s top private sector mortgage lender in terms of revenue Housing Development Corporation (HDFC) surged 6.83% to Rs 2330. The stock eased form its all time high of Rs 2415 hit earlier during the day

HDFC Bank, the country’s second largest private sector bank in terms of net profit soared 6.83% to Rs 1314

State Bank of India, the country’s largest banking entity by net profit jumped 4.52% to Rs 1770. It topped the list of advance taxpayers, after it paid reportedly paid Rs 1,050 crore in the June-September quarter, which is nearly 50% more than the tax paid during the corresponding period last year.

India’s second largest bank by net profit, ICICI Bank jumped 4.44% to Rs 966.10. As per reports it paid Rs 450 crore advance tax for the June-September 2007 period. The bank had paid the same amount for the corresponding period last year.

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) surged 5.99% to Rs 2181.70 on 10.59 lakh shares. It struck an all time high of Rs 2185. As per reports its subsidiary - Reliance Logistics (RLL) is planning to set up logistics parks within all the upcoming special economic zones (SEZs). The Reliance logistics parks will cater to the entire range of logistic requirements of the SEZs. RIL has reportedly paid Rs 650 crore in the June-September 2007 quarter. The tax outgo during the June-September period last year was about Rs 450 crore.

Oil and Natural Gas Corporation, the country’s largest oil exploration company by revenue surged 5.89% to Rs 901 after its Chairman R.S. Sharma said the company may consider a bonus issue and a share split in the future. He did not give a time frame for bonus issue and stock-split.

Infosys Technologies, the nation’s second largest software services exporter rose 3.14% to Rs 1856.55 on rumors the firm is interested in acquiring UK-based Sage Group. Infosys has denied the reports further clarifying that it also isn't negotiating with Cap Gemini SA about buying any part of the company.

Maruti Suzuki India, the country’s top car-maker by sales vaulted 5.11% to Rs 920.50 on reports that company will set up an auto component park with Japan's Futuba Industrial Company. Maruti will hold a 49% stake in the joint venture. This will be Futuba’s first project outside Japan

India’s second largest bike maker Bajaj Auto rose 4.55% to Rs 2510. It has reportedly paid Rs 120 crore for the second quarter of the current fiscal. The company has paid Rs 102 crore as the first installment during the quarter ending June 2007.

India’s second largest cellular services provider by sales Reliance Comunications, rose 5.11% to Rs 564.75 after its subsidiary Flag Telecom reportedly signed a five-year agreement with UK-based Vanco to increase its presence across 81 countries worldwide.

DLF was the top traded counter on BSE with total turnover of Rs 255.19 crore followed by Reliance Industries (Rs 226.36 crore), ICICI Bank (Rs 226.36 crore), Reliance Capital (Rs 134.16 crore), and Shree Renuka Sugars (Rs 127.42 crore).

DLF galloped 8.91% to Rs 714.25 on reports that the company is getting into the retail of luxury brands and is in talks with some well-known retail chains, including Georgio Armani, Versace and Dolce Gabbana. DLF is in talks with 10-12 brands. Also another set of reports stated that DLF will tie up with a foreign major Carrefour for the supermarket business at a later stage.

The first batch of advance tax figures hint improved corporate earnings for the second quarter ended September 2007. Advance taxes are paid in four installments — in June, September, December and March. The June and September installments usually constitute about 15% and 25% respectively of the total advance tax payable in a fiscal.

European markets which opened after Indian market were trading with gains. Key benchmark indices from United Kingdom (up 2.11% to 6,416), Germany (up 1.87% to 7,717.70), and France (up 2.30% to 5,677.22), advanced.

Asian markets surged today, 19 September 2007 tracking overnight gains on Wall Street. Hong Kong's Hang Seng (up 3.98% at 25,554.64), Japan's Nikkei (up 3.67% at 16,381.54), Singapore's Straits Times (up 3.65% at 3,596.36), South Korea's Seoul Composite (up 3.48% at 1,902.65) and Taiwan's Taiwan Weighted (up 0.30% at 8,926.50) surged.

Wall Street shares rallied yesterday, 18 September 2007 after the Federal Reserve cut its benchmark interest rate by a larger-than-expected 0.5%. The Dow Jones industrial average soared 335.97 points, or 2.51%, to 13,739.39. This was its biggest surge since 2 April 2003. The blue-chip index is now only about 1.9% below its record close of 14,000.41, reached in mid-July. The Standard & Poor's 500 index rose 43.13 points, or 2.92%, to 1,519.78. The Nasdaq Composite index gained 70 points, or 2.71%, to 2,651.66.

Crude oil climbed above $82 a barrel on Wednesday, 19 September 2007 near a record reached a day earlier after the US Federal Reserve slashed interest rates to caalm worries over economic growth ahead of peak winter fuel demand. US light crude for October delivery rose 82 cents to $82.33 a barrel, after hitting a record of $82.38 yesterday, 18 September 2007. London Brent crude gained 72 cents to trade at $78.31 a barrel.

Meanwhile, the Left-UPA Committee on the nuclear deal will meet for the third time today, 19 September 2007 amid a fresh warning from the CPI(M) against implementing the pact and to keep it on hold for at least six months.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 23.38 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 232.93 crore on Tuesday, 18 September 2007

The BSE 30-share Sensex advanced up 164.69 points or 1.06% at 15,669.12, on Tuesday 18 September 2007. The S&P CNX Nifty rose 51.55 points or 1.15% at 4,546.20, on that day.

Firmness persists

The market firmed up further in early afternoon trade. The market had opened with a bang today, with both the niche indices BSE Sensex and S&P CNX Nifty striking all time high in opening trade.

The rally was triggered by the US Federal Reserve announcing a 50 basis points cut in fed funds rate to 4.75% from 5.25% on Tuesday, 18 September 2007. Asian markets rallied today, 19 September 2007, after the Fed decision.

At 12:30 IST, the 30-shares BSE Sensex was up 502.89 points or 3.21% to 16,172.01. It opened with a sharp 271.67 point upward gap at 15,940.79 and advanced further to hit an all time high of 16,193.80. It previous all time high was 15,868.85 hit on 24 July 2007.

The S&P CNX Nifty was up 154.75 points or 3.4% to 4,700.95. It struck an all time high of 4,701.95.

BSE Mid-Cap rose 1.52% or 101 points to 7091 and BSE Small-Cap rose 1.34% or 117 points to 8,898.

Among the sectoral indices BSE Realty index (up 4.23% to 8,341.27), BSE Bankex (up 3.9% to 8,614.22), BSE Auto index (up 3.43% to 5091.40), BSE Oil & Gas (up 3.32% to 8,708.67) were the major gainers.

BSE Bankex hit the all time high of 8,637.92, BSE Oil & Gas index hit an all time high of 8805.53 and BSE Capital Goods index hit an all time high of 14,156.82.

Market breadth was robust on BSE:1736 scrips advanced, 920 scrips declined and 76 scrips remained unchanged.

All the scrips advanced in the Sensex pack.

Among the Sensex pack ONGC (up 6.38% to Rs 905.10), Maruti Udyog (up 5.72% to Rs925.50), HDFC Bank (up 5.37% to Rs 1296), M&M (up 5.15% to Rs 745), HDFC (up 4.77% to Rs 2285) were the top five gainers.

Among the side counters State trading Corporation of India (up 20% to Rs 286), VBC Ferro Alloys (up 20% to Rs 155.55), Worldwide Leather Exports (up 20% to Rs 25.70), Anil Special Steel Industries (up 18.43% to Rs 33.10) were the top gainers in that order.

Bank and financial shares rose on the reckoning that the Fed move could put pressure on RBI to loosen its monetary policy. India’s top private sector mortgage lender in terms of revenue Housing Development Corporation (HDFC) surged 4.77% to Rs 2285.

ICICI Bank (up 3.9% to Rs 961.15), HDFC Bank (up 5.53% to Rs 1298), and State Bank of India (up 4.28% to Rs 1765.90), edged higher

India’s largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) rose 3.11% to Rs 2122.50. It also struck an all time high of Rs 2125. As per recent reports, RIL is foraying in shipbuilding and dredging business with two separate companies. It plans to invest around $1 billion each in two companies and has begun talks with international majors for a strategic tie-up for the dredging business

Meanwhile, the Left-UPA Committee on the nuclear deal will meet for the third time today, 19 September 2007 amid a fresh warning from the CPI(M) against implementing the pact and to keep it on hold for at least six months.

Reliance Communication rose 3.29% to Rs 555 after its subsidiary Flag Telecom signed a five-year resource sharing agreement with UK-based Vanco to increase its presence across 81 countries worldwide.

Infosys Technologies rose 3.39% to Rs 1861 on rumours the on rumours that it may launch a bid for UK-based Sage Group.

Bharti Airtel rose 3.8% to Rs 864.10 after its Sri Lankan unit signed a $150 million contract with China's Huawei Technologies Co to build and manage mobile infrastructure in the island nation over three years.

DLF galloped 5.69% to Rs 693.10 on reports that a group company in Singapore plans to raise about $2 billion and list as a real estate investment trust in Singapore.

Asian markets surged today, 19 September 2007 tracking overnight gains on Wall Street. Hong Kong's Hang Seng (up 3.78% at 25,505.30), Japan's Nikkei (up 3.67% at 16,381.54), Singapore's Straits Times (up 3.07% at 3,594.08), South Korea's Seoul Composite (up 3.48% at 1,902.65) and Taiwan's Taiwan Weighted (up 0.3% at 8,926) surged.

Wall Street shares rallied yesterday, 18 September 2007 after the Federal Reserve cut its benchmark interest rate by a larger-than-expected 0.5%. The Dow Jones industrial average soared 335.97 points, or 2.51%, to 13,739.39. This was its biggest surge since 2 April 2003. The blue-chip index is now only about 1.9% below its record close of 14,000.41, reached in mid-July. The Standard & Poor's 500 index rose 43.13 points, or 2.92%, to 1,519.78. The Nasdaq Composite index gained 70 points, or 2.71%, to 2,651.66.

As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 23.38 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 232.93 crore on Tuesday, 18 September 2007.

The BSE 30-share Sensex advanced up 164.69 points or 1.06% at 15,669.12, on Tuesday 18 September 2007. The S&P CNX Nifty rose 51.55 points or 1.15% at 4,546.20, on that day.

GTL Infrastructure - Outcome of AGM

GTL Infrastructure Ltd has informed that the members at the Annual General Meeting (AGM) of the Company held on June 20, 2007, inter alia, have accorded to the following:

1. Adoption of the Audited Accounts for the period ended March 31, 2007 & Directors Report thereon

.2. Appointment of Mr. Manoj G Tirodkar, Mr. G V Desai & Mr. Vishwas Pathak as Directors of the Company.

3. Appointment of M/s. Bansi S Mehta & Co., Auditors of the Company.

4. Appointment of Mr. Prakash Ranjalkar as whole time director.

5. Adoption of GTL Infrastructure Ltd - Employees Stock Option Scheme (ESOS 2005) with certain modifications.

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