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Pandit defies Schumer
At the Bank of America Corp office in Washington, employees are fielding as many as 10 calls a day from Capitol Hill, up from about two a year ago.

Rupee drops to 2-week low as risk aversion mounts
The rupee fell to a two-week low on speculation that foreign funds will trim their holdings of local assets, as interest rates are raised to contain inflation.

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MEL to invest Rs 200 cr in capacity expansion
Maharashtra Electrosmelt (MEL), a SAIL subsidiary, will invest Rs 200 crore to set up a furnace with capacity of 42,000 tonnes per annum at its Chandrapur plant.
Business Opportunities

Sensex up 50pts; Wipro adds 4%

The Sensex is now stable and is now at 15,677, up 49 points. - Sensex rebounds, up 20pts - Hindustan Copper slips 2% on dip in Q4 net profit - Sensex near day"s low, down 132pts - Indraprastha up 2% on getting K-G gas supply - Sugar stocks fall as govt caps bulk supplies - Sensex down 80pts in early trades The NSE Nifty is at 4,656, down 14 points. Wipro has advanced 4% to Rs 545. Tata Motors has gained 3% at Rs 472. Reliance Communication, Grasim Industries and Larsen & Toubro have added 2% each to Rs 262, Rs 2,667 and Rs 1,580, respectively. BHEL has slipped 1.5% to Rs 2,309. SBI, Bharti Airtel and ONGC are down over 1% each at Rs 1,767, Rs 409 and Rs 1,182. The market breadth is positive, out of 1,647 shares traded, 1,526 have advanced and 1,046 have declined so far on the BSE.


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