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Friday Reads: Pump Scams, HSBC Goes, Rupee Rises and Falls, ED Clears Walmart

Common Petrol Pump Scams in India (Cartoq)

Invest or Pay Dividends: Chidambaram tells PSUs (Business Standard) He’s correct in asking this. Any shareholder must do this – what’s the point of keeping cash on a balance sheet for long periods if it’s not invested?

HSBC ditches Indian broking division, cuts 300 jobs (Reuters) Another tough blow for the financial service sector.

ED clears Walmart’s investments in Cedar as FDI compliant (LiveMint) But the damage has already been done. And then, what happens to Flipkart, where investigations started alongside?

China grows at a faster than expected pace of 7.8% (Reuters) But the outlook isn’t good. And then, who believes them? 

The Rupee goes to 60.92 but immediately falls back. (HT) Currently at 61.66 – so it’s a BIG reversal.

  • px says:

    Chidambarams logic is suspect !
    he gets dividend and DDT ! small investors dont , they get capital losses .. buyback from retail ipo fpo investors would be better !
    His govt has crashed the mkt cap of psu shares by record figures and his motives are to cover the air passing through the big hole in the lungi ie the fisc deficit , thanks to his ostrichnomics and inflated ego among other things like messing up on the fisc front!