Oil prices fall in Asian trade to under $61 per barrell
Singapore: Oil prices fell in Asian trading due to a technical pullback, after rising to above $61 on OPEC being serious about production cuts.

New York's main contract, light sweet crude for December delivery, was down 18 cents to $60.98 a barrel from $61.16 in late US trade yesterday, when prices touched their highest levels since October 26.

Brent north sea crude for December fell 12 cents to $61.20.
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Classic Diamonds to raise $100 million
Mumbai: Classic Diamonds India said it would raise up to $100 million (about Rs450 crore) for overseas acquisitions and said its board of directors in a meeting have approved the proposal.

The company's proposal for splitting the shares from Rs10 per share to five shares of Rs2 each has also received the board's approval.

Classic Diamonds earlier signed an agreement with US-based jewellery firm, Diamond Direct LLC, to set up retail operations in the US and Canada. The board has also approved the scheme of amalgamation of Purvi Diamonds with the company.
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Gold, silver prices soar
Mumbai: Precious metals zoomed at the opening session on the bullion market here on Friday. Gold zoomed by Rs181 per to Rs9,145 and silver by Rs500 per kilo to Rs19,400 due to heavy bouts of stockists' buying on strong overseas movements.

In New York, gold and silver futures soared to their highest level in more than two months on Thursday due to a sagging U.S. dollar, stabilizing crude oil, plus speculative and chart-based buying, analysts said.
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Assam Company to raise $50 milllion
Mumbai: Assam Company plans to raise up to 50 million dollars through issue of Foreign Currency Convertible bonds in the overseas market. The company, which owns around 18 tea estates, said it has issued 44 million dollars of Foreign Currency Convertible Bonds (FCCBs) in the board meeting held yesterday.

The company had come out with an issue of FCCBs worth 40 million dollars with an over allotment option for an additional 10 million dollars, exercisable in one or more tranches, it said.

Shares of the company, engaged in cultivation, manufacture and sale of tea and oil gas exploration, was trading at Rs26.10, up 1.16 per cent at the BSE.
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Enkei Castalloy plans stock split
Mumbai: Enkei Castalloy, which manufactures aluminium alloy castings, plans to split equity shares of the company in 1:2 ratio. The company said the shareholders at the EGM have approved the splitting of one equity share of Rs 10 into two equity shares of Rs 5 each. Shares of the company were trading at Rs391, up 2.89 per cent on the BSE.
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MCX to present revival plan of CSE by December
Kolkata: The Multi-Commodity Exchange (MCX) is waiting for guidelines from Securities and Exchange Board of India (SEBI) for investment in exchanges before presenting its plan for reviving the Calcutta Stock Exchange (CSE).

MCX said its report was ready. CSE officials, however, did not know of the plan and said they had not met with MCX officials.
The CSE has been negotiating with the National Stock Exchange and The Stock Exchange, Mumbai to allow members to trade on these bourses.

Earlier, the report was to be submitted by October end. Consultant Ernst & Young had earlier advised the CSE to diversify into commodity trading to improve viability.
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