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NEWS DIGEST: Top Newspaper Headlines

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Our Web Bureau Mumbai
The Economic Times 

Largest fall in BSE's 150 years

Sensex drops 826 points.

No new tax on FIIs: FM

Says its a manufactured crisis based on uninformed reporting.

RBI read the signs, put safety systems in place


The Central Bank built a $162 billion war chest of foreign exchange reserve and create a pool of rupee resources.

The Hindu Business Line


MFs with exposure to commodity stocks will be hit hardest 

The BSE Metal index plunged 11.37%.

Tatas pick Bengal for Rs 1-lakh car plant


Project cost pegged at Rs 1,000 crore; State begins land acquisition.

Reliance Energy combine bags Mumbai Metro contract


Work under Phase I  to commence from June.

The Financial Express


Tata Steel net fall in FY06

Profit in Q4 slipped 13.23% to Rs 799.41 crore.

Mittal Steel launches takeover offer for Arcelor 

Offers $23.2 billion in cash and its own shares for Arcelor.

ONGC, BHEL, VIL fall foul of CalPERS
 

India Inc., reacted by pledging that it will continue to do business in Sudan.

Daily News & Analysis -  Money


FIIs go for stock futures, junk arbitrage   

F&O safe haven, index futures see a blizzard activity.

Margin call, hunt for bottom singe day-traders 

Settling mark-to-mark margins in early trade is key to Friday; weakness could spell more trouble.

Tatas will venture into uncharted waters

Aim is to take control of logistics, including shipping business.  

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First Published: May 19 2006 | 8:45 AM IST

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