Top News : Indian Share Market

• Sunil HiTech said on Tuesday it got orders worth 1.73 billion rupees in the first quarter, including a construction job secured by a consortium for the Maharshtra Airport Development Corp.

• Chennai-based Shriram Group is likely to take over the cash-strapped front-end retail arm of Vishal Retail Ltd after private equity investor Texas Pacific Group (TPG) takes charge of its wholesale division.

• Geodesic Ltd said on Tuesday it has signed a strategic deal with Zee Entertainment Enterprises;ZEE to launch real time entertainment applications for mobile and internet-enabled devices.

• The Indian rupee fell to its lowest level in a month and half on Tuesday, weighed down by defence-related import payments and demand for dollars from some companies.

• India may start using new wholesale price index (WPI) series from next month, Industry Secretary R.P. Singh said on Tuesday.

• Indian federal bond yields and swap rates inched up on Tuesday, tracking U.S. Treasury yields and as domestic cash levels remained tight.

• India is looking to rejig its subsidy mechanism, Cabinet Secretary K.M. Chandrasekhar told reporters on Tuesday, indicating the government's intent in slashing its fiscal deficit.

• China on Tuesday branded a group of U.S. lawmakers as protectionist for seeking to block an investment by the country's fourth-largest steel maker on national security grounds.

• The yen fell for a second day against the dollar on speculation the Bank of Japan will intervene to weaken the currency after it climbed to a seven- month high last week.

• Oil climbed to $77 on Tuesday as forecasts for a fourth consecutive weekly drop in U.S. crude inventories bolstered the positive influence of rising stock markets in most of Asia.

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