Greece problem drags market..

The Greece sovereign debt problem led to a sharp fall in Euro and European equities yesterday which affected the global market sentiments. UK and ECB kept the interest rates unchanged and also continued to give stimulus support indicating weak economic fundamentals of Euro Zone.

In domestic market fear of liquidity crunch due to 3 G auctions and launch of large FPO’s like SAIL affected the market sentiments and led to a sharp fall in the market.

The government today approved hiking Himachal Pradesh's stake in Satluj Jal Vidyut Nigam by 0.5 per cent to maintain the state's equity in the PSU's 412-MW Rampur project at 30 per cent.

Suzlon Energy its subsidiary REpower Systems AG has bagged a contract from an Italian company for supplying 18 wind turbines.

Essar Energy Ltd plans to raise about $2.5 billion (over Rs 11,250 crore) through an initial public offering of shares, the largest overseas IPO by an Indian firm, in the UK.

Elecon Engineering Company has bagged an order worth Rs 49.90 crore from Sical Logistics for material handling equipment.

GVK Power and Infrastructure Ltd is ready to acquire a majority stake in Mumbai and Bangalore international airports.

Gujarat State Petroleum Corporation (GSPC) has inked an agreement with government of Egypt for oil and gas exploration in the African nation where the Indian firm has been alloted blocks.

The government today approved a 20 per cent disinvestment in Steel Authority of India Ltd that would fetch a total of Rs 16,000 crore.

Aban Offshore today said it has bagged a contract valued at $159 million (about Rs 716 crore) from Brunel Shell Petroleum Sendirian Berhad for the deployment of the jack-up rigs.

Higher prices of milk, fruits and pulses pushed food inflation to 17.70 per cent for the week ended March 27.

India closed the doors on new foreign direct investment in cigarettes. ITC may gain.