According to a recent study by the Associated Chambers of Commerce and Industry of India (Assocham), though there is a noticeable slump in demand for fast moving consumer goods (FMCG) in the urban markets, the rising demand in rural areas is attracting manufacturers of consumer products and automobiles, and even organised retail businesses.

The Assocham study titled ‘The Rise of Rural India’ reveals that the global financial meltdown notwithstanding, rural India is being seen as a potential for healthy revenue growth for companies, thanks to a robust demand for products of FMCG, two-wheelers, passenger cars as well as retail sectors.

Anil Dhirubhai Ambani Group company Reliance Communications on Monday launched its high-speed wireless broadband services in Kolkata.

The company claims that newly launched service is Country's fastest internet service with a peak downlink speed of upto 3.1 Mbps and an uplink speed of up to 1.8 Mbps. The company will deliver the services on its CDMA platform.

The company has launched multiple subscription plans for its wireless broadband service ranging from a monthly rental of Rs 299 to Rs 1,750. In addition, the company will take Rs 3,500 as one time cost for USB modem separately.

The Chennai-based networking solutions provider Gemini Communication plans to demerge its system integration business comprising enterprise convergence group, wireless and telecom and 4S divisions to a separate company.

However, the company will retain the technical services division to the telecom sector; PointRed Telecom and radio frequency identification (RFID) businesses.

It may be noted that the company's board has proposed to make a preferential allotment of up to 97,18,000 warrants with option to convert them into 97,18,000 equity shares for working capital requirement.

Indian Vice-President M. Hamid Ansari, who is visiting Kuwait, Tuesday met Kuwait’s Emir Sheikh Sabah Al Ahmad Al Jaber Al Sabah; the Prime Minister and Defence Minister Sheikh Jaber Mubarak Al Hamad Al Sabah; and the Kuwaiti Ministers for Oil, Foreign Affairs and Finance.

Nirmal Bang has maintained its ‘Buy’ rating on Essar Shipping Ports & Logistics stock to achieve a target between Rs 48 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 42.

Shares of the company, on Monday (April 06), closed at Rs 40.30 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 4.03 and 10.45 respectively. The share price has seen a 52-week high of Rs 187.85 and a low of Rs 19.40 on BSE.

The report also said that a big move is expected if the stock maintains above 42.

Lot of action was in few counters but considering the whole market the proceeds were on the minor side around Rs 49,500 crore on the F&O space as against Rs 56,000 crore during the previous week, so just about 15 per cent decline in turnover.

According to stock market expert Narendra Nainani, looking at the Nifty futures, which marked their closure provisionally around 5 or 6 points premium but intra-day they had descended into discount so from the lows of the day stock market has recovered and investors could have seen some fresh long positions returning into the Nifty.