market summary – 23.06.11

SEBI ASKS SAHARA TO REFUND MONEY RAISED VIA OFCDs
In a strong order the market regulator SEBI has asked Subrata Roy promoted Sahara group companies to refund money raised via Optionally Fully Convertible Debentures (OFCDs). Besides restraining two Sahara companies from accessing capital markets, it has asked Roy to make OFCDs repayment through Demand Draft or Pay Order. SEBI order also restrains Subrata Roy, Vandana Bhargava, Ravi Shankar Dubey and Ashok Roy Choudhary from associating with any listed or public limited companies.
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MARKETS STAGE SMART PULLBACK, SENSEX UP 176 PTS  
Sensex closed at 17,727.49 points as oil ministry submitted a proposal for fuel price revision to the EGoM. Nifty rose 41.70 points to end at 5,320. read more
EGoM ON FUEL PRICE HIKE LIKELY ON JUNE 24  
The EGoM is likely to meet tomorrow to consider a hike in diesel and LPG prices, as well as a cut in duty rates to combat the high cost of crude oil. read more
WE ARE READY TO FACE BULLETS FOR LOKPAL BILL: HAZARE  
Anna Hazare said today he was not afraid of death and dared the government to fire bullets in the event of his going on fast. read more
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