Reliance Industries and its partner Hardy Oil have suspended drilling at an exploratory well in the D3 block at the KG basin. In a statement, Hardy Oil has cited “unresolved mechanical issues associated with the blow out preventer”.

State Bank of India (SBI) on Wednesday hinted that it might not hike interest rates immediately as liquidity remains sufficient in the system despite the expected cash outgo on 3G auction and advance tax payments.

The Indian markets once again mimicked the global markets that witnessed a terrific bounce back. The Sensex wiped out quite a bit of its Tuesday losses and closed up 365.36 points at 16,387.84. The Nifty crossed the 4,900-mark to close at 4,917.4, up 110.65 points.

Leading a young side to Zimbabwe after the selectors decided to rest several senior players including regular skipper Mahendra Singh Dhoni, Suresh Raina on Tuesday said he was confident the youngsters would deliver in the tri-series and two bilateral Twenty20 internationals against the hosts.

The police say seeking opportunity in a tragedy was the plan of Abdul Samad Bhatkal, the prime suspect in the Pune bakery blast arrested from Mangalore airport on Monday. Anti-Terrorism Squad officers said that Bhatkal decided to take a flight from Dubai, a day after the crash to hoodwink the airport police who were occupied

Investors seem to be rushing towards gold as markets flounder. On Tuesday, gold prices on the Multi Commodity Excha-nge touched Rs 18,560/10 grams, the highest ever. However, there may not be too much of an upside in the yellow metal this point on, unless things take a major turn for the worse.

The 2,000-point fall in the BSE Sensex has made a number of sectors and stocks look attractive, say market watchers. The 11 per cent fall has brought down valuations at par with the long-term trend. However, given global uncertainties, a stagewise approach in making fresh investments would be advisable at this point.

It was a recipe for disaster, and the mayhem could continue. Analysts see the Sensex losing another 500 points and the Nifty going down to 4,650 with a downward bias.
The bailout of a Spanish bank, the European and emerging markets stocks hitting an eight-month low, and the sabre rattling by the two Koreas, plunged the Sensex into the red on opening bell on Tuesday.

ONGC Videsh Limited, the global subsidiary of oil major ONGC produced 8.87 million tonnes of oil and gas during FY10, slightly higher than the previous year.
The company has recorded a net profit of Rs 2,115 crore for the year, down 26 per cent over FY09, as crude oil prices fell sharply during the year.

The truce effect — the start of negotiations by Mukesh and Anil Ambani saw their stocks buoyant and outperform the Sensex which was up less than one per cent on Monday.