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Indian pension fund managers may have recently got the nod to dabble extensively in volatile stocks, but global pension funds from the US and Europe continue to back India for giving good returns.

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The Sensex closed over 43 points lower as banking stocks tumbled on the RBI decision to keep interest rates unchanged.

State-run power company NHPC said it plans to raise up to Rs 6,048 crore through sale of shares in a price-band of Rs 30-36 in an IPO — the first by a PSU after the UPA assumed office for a second term.

Reliance Power, an Anil Ambani group company, plans to raise over Rs 20,000 crore in the current fiscal to finance various projects including the 4,000 MW Krishnapatnam Ultra Mega Power Project, a top official said.

Sensex crept back into the green and was ruling 57 points higher than its previous close, about 90 minutes before the closing bell on Tuesday.

The RBI on Tuesday left its lending rate steady at 4.75%, its lowest in 9 years, and its reverse repo rate unchanged at 3.25%.

The Bombay Stock Exchange benchmark Sensex fell by over 130 points at 1230 hrs after the Reserve Bank announced no change in key policy rates and projected an economic growth rate of six per cent.

Rupee on Tuesday skidded by 8 paise against the dollar in early trade due to the month-end dollar demand from importers.

Though financial details were not available, the deal size (acquisition of 78% stake) is estimated to be around Rs 3,000 crore.

The upcoming initial public offer of Ahmedabad-based Adani Power Limited has become the first IPO in the country to attract anchor investors under the recently announced SEBI guideline.

FIIs, who resumed their buying spree after a brief pause in the run up to the Budget, are placing their bets on realty stocks.

Indian pension fund managers may have recently got the nod to dabble extensively in volatile stocks, but global pension funds from the US and Europe continue to back India.

Tata Motors posted better-than-expected quarterly earnings driven mainly by fall in raw material prices and the new accounting rules on forex differences.

A crucial petition challenging the Company Law Board’s decision to allow the scam-ridden Satyam Computers to induct a strategic investor is slated to come up for hearing in HC.

The central bank kept the cash reserve ratio, the amount of funds banks have to keep on deposit with it, unchanged at 5.0%