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Sprint Nextel to buy Virgin Mobile USA
Telecommunications company Sprint Nextel Corp said it agreed to acquire Virgin Mobile USA Inc in a stock deal valued at $5.50 per share in a bid to expand its prepaid cell phone offerings.

F&O OUTLOOK: Nifty likely to trade above 5,100 this week
The Nifty convincingly closed above the 61.8 per cent retracement levels of 4,940 on short-covering. The V-shape recovery is expected to continue with the Nifty likely to complete 100 per cent retracement this week of its recent fall from 5,181 to 4,538. Options data suggest the index has strong support at 4,900 and is building fresh support at 5,000.

News of the day

Chambers' Reaction: Assocham: Aam aadmi Budget
Assocham: Aam aadmi Budget
Management

United Spirits Q2 net down 25% at Rs 69 cr

United Spirits, India"s largest spirits firm, has posted a 25 per cent decline in net profit to Rs 69.6 crore for the quarter ended September 30, 2009 where as the same was at Rs 94 crore for the quarter ended September 30, 2008. Total Income is up 19 per cent to Rs 1091 crore for the quarter ended September 30, 2009 where as the same was at Rs 914 crore for the quarter ended September 30, 2008. Nano City may have foreign partner soon The company detailing the drop in net profit has said that during the corresponding quarter of last fiscal the cost of its raw materials were low and it has shot up by 114 crore during the current period. USL also added that its interest cost shot up almost twice to Rs 75 crore.


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