Gold prices crash

Mumbai, March 20: Dollar stole the shine of gold across the globe and in the domestic bullion market it was almost a free-fall in prices with Delhi recording the biggest-ever drop of Rs 1,110 per 10 gram from its peak of over 13k. The metal in London fell to $905 an ounce from a record $1,033. On the domestic front, the rates came down to Rs 12,000 per 10 gram in Delhi, a fall of Rs 1,110, followed by Calcutta, where it slipped by Rs 930 at Rs 12,305.

Andrew Yule

Calcutta, March 20:Andrew Yule & Co has sought shareholders’ approval to reduce the face value of its shares from Rs 10 each to Rs 2 each. The price of shares will be reduced to adjust accumulated losses worth Rs 46.61 crore.

Sugar price

New Delhi, March 20: The government has decided to raise the statutory minimum (SMP) price of sugarcane to Rs 81.18 per quintal, which will be payable to farmers during the next season starting October 2008. The smp of sugarcane is Rs 80.25 per quintal for the current season.

Reliance gas

New Delhi, March 20: Reliance Industries’ proposed $8.836-billion gas field development cost has been certified by independent valuers as not being gold-plated and being well below their own estimates. The validation team had made an estimate of $9.035 billion, in contrast to the RIL estimate of $8.836 billion.

Markets closed

Mumbai, March 20: The Bombay Stock Exchange, the National Stock Exchange, forex and the money market remained closed today account of Id-e-Milad.