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Gold prices hit another record
The metal may see a correction soon on persistent selling by institutional investors.

Geetanjali Krishna: The unofficial Tatkal service
It’s rather peculiar,” said a friend recently, “that of late, almost every time that I have tried to buy a train ticket, even if it is a month in advance, I have found myself wait-listed…” She was desperately trying to send off Sushil, her trusted right-hand man to Kolkata for some urgent business, and was unable to get tickets on any train going eastwards. “The air tickets cost upwards of Rs 12,000 — I don’t know what to do!” said she. Just then, her courier service provider, who happened to overhear some of this conversation, said, “Why are you getting so hassled madam? Just send him to the railway station and meet this travel agent friend of mine … he’ll get him on today’s Rajdhani to Kolkata!” But how could he do that when the train was full, she asked bemusedly. “It’s the unofficial Tatkal service,” said he.

News of the day

HCL Tech may close 5 deals in M&E space by year-end
Delhi-based HCL Technologies expects to sign around five deals in the media and entertainment (M&E) space. Talks are on with four global companies and one Indian firm, and HCL plans to close these deals by the end of this year. Most deals will be in the range between $50 million and $200 million (Rs 240-950 crore).
Online Business

SAIL Q3 sales grow 23% on construction demand

The country"s largest steel maker, Steel Authority of India (SAIL), today reported a 32 per cent growth in sales at 1.3 million tonnes in December 2009. - SAIL, Tata Steel, Bhushan, JSW hike prices - Steel PSUs" budgetary estimates may be inflated: Panel - Burn Standard"s units may soon get govt nod for sale - Flat steel to cost Rs 1,500/tn more from January 1 - SCOPE hails Maharatna status - Tata Steel up prices by Rs 2,000, SAIL withdraws discounts The sales in the third quarter ended December 2009 grew by 23 per cent over the corresponding period last year due to increase in sale of products consumed by the construction industry. "SAIL achieved sales of 1.3 million tonnes during December in the domestic market, registering a growth of 32 per cent over December "08 and a growth of 23 per cent during Q3 over corresponding period last year (CPLY)," the company said in a statement. "Sales of SAIL TMT grew by 33 per cent in Q3 while plates registered a growth of 36 per cent during the same period," it said. The company also registered record sales of 1.16 lakh tonnes through its dealer distribution network in December last year. In the second quarter ended September 2009, the company had reported 14 per cent growth in its sales at over 3 million tonnes.


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