News digest for the day

The Financial Express

PEs for a third of the 82 sectors drop up to 44%
Lower ratio indicates scope for appreciation in the new year.

Credit to be slashed by 50% for errant exporters
Extending bank guarantee to exporters transacting commercially with their associates abroard likely to be restrained.

Price hikes to help FMCG toplines
Sales expected to grow at a tepid 3-4% in 2005-06.

The Economic Times

Buoyant housing, petro sectors push loan ratio to year's high
Many banks line up equity issues to meet CAR norms.

For FIIs, India's the most favoured emerging nation in Asia after Korea
With inflows of $8.3bn, India beats Taiwan ($5.7bn) on FII charts, but falls behind Korea ($10bn).

Markets clued in to Ambani, not tsunami
Shaken but not stirred on the ground.

The Business Line

Reliance Energy to buy back shares for Rs 525
Aggregate amount of Rs 350 crore set aside for the buyback.

'Involuntary' bank mergers to get taxe breaks
Amalgamated company can avail tax breaks under section 72A in all involuntary companies after the law is amended.