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FinMin keen on ONGC, Indian Oil FPOs
The finance ministry is keen on selling stakes in Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC), but follow-on public offers (FPOs) in the two bluechip public sector units (PSUs) are unlikely, as unresolved issues are affecting valuations. Disinvestment Secretary Sunil Mitra last month wrote to his counterpart in the petroleum ministry, R S Pandey, seeking comments on “public offerings from the government’s shareholding” in ONGC and IOC. The petroleum ministry is of the view that raising funds from the capital market was not prudent till issues like fuel pricing and subsidies were resolved, which were affecting share prices of ONGC and IOC, sources in the know said.

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RBI will reassess soft policy stance: Thorat
The Reserve Bank of India (RBI) today said it would reassess its soft policy stance amid food inflation soaring past 17 per cent even as the the PM"s advisory panel and others called for tightening money supply.

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Mixed week for Smart Portfolios
With the exception of Ajay Parmar, fund managers found it difficult to negotiate the volatile markets. The Smart Portfolios benchmark, the S&P CNX 500 rose by 0.75 per cent during the week. An investment of Rs 10 lakh in the benchmark at the start of Season II on September 1, 2009, is today valued at Rs 10.80 lakh, a gain of 8 per cent.
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Munde deputy leader of BJP in Lok Sabha

Former Maharashtra Deputy Chief Minister Gopinath Munde was today made Deputy Leader of the BJP in Lok Sabha in place of Sushma Swaraj who has been elevated as Leader of the Opposition. - Letters: Timing the exit">Letters: Timing the exit - Gadkari replaces Rajnath as BJP chief - Somnath to be nic member - Advani era over, Sushma to be leader of Opposition - Advani may quit as LoP tomorrow - Jaswant reaches out to Advani on Gorkhaland The appointment of 60-year-old Munde to the key post was made two days after another Maharashtra leader Nitin Gadkari, who had been junior to him in state politics, was made the party chief at the national level. A prominent OBC leader, Munde has been elected from his home constituency, Beed, in Marathwada region of Maharashtra. Brother-in-law of late Pramod Mahajan, he was Deputy Chief Minister in the Shiv Sena-BJP Government from 1995 to 1999. Ananth Kumar"s name was also doing the rounds along with that of Munde for the key post. The BJP Parliamentary Party had authorised its Chairman L K Advani, who stepped down as Leader of Opposition in the Lok Sabha on Friday, to name Deputy Leaders and Chief Whips of the party in both Houses of Parliament. Ramesh Bais would continue as Chief Whip in the Lok Sabha, while in the Rajya Sabha S S Ahluwalia would continue as Deputy Leader, while Maya Singh remains the Chief Whip. The post of Deputy Leader in the lower house was vacated after Sushma Swaraj was elevated as Leader of Opposition. Senior Leader Arun Jaitley continues as Leader of the Opposition in the Rajya Sabha.


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