Money markets ride high on IMD funds flow
THE entire $5.5 billion raised under the India Millennium Deposit (IMD) has come into the country. State Bank of India is understood to have handed over the collecting banks 50 per cent of their share in rupees at 10 per cent.

CLP Power takes over Gujarat PowerGen
HONG KONG-based CLP Power International (CLP-PI) is taking over Gujarat PowerGen Energy Corporation (GPEC), which owns the 655 MW power project at Paguthan in Gujarat.

Decks cleared for Centaur divestment
THE decks have been cleared for the smooth disinvestment of Air India's equity in the Centaur hotels at Delhi and Mumbai airport and the flight kitchens in these two cities.

44 pc rise in FDI inflows
CUMULATIVE inflows of foreign direct investment (FDI) into the country touched a level of $3.58 billion during January-October this year. This represented a 44.35-per cent increase over $2.48 billion received during April-October 1999.

Maruti sell-off: Wait till Dec 23, says Joshi
THE Union Minister for Heavy Industries & Public Enterprises, Mr Manohar Joshi, today indicated that a clear picture on the disinvestment in Maruti Udyog Ltd (MUL) should be available on December 23, by when the Cabinet committee looking into the matter would have submitted its report.

Eveready to sell more tea estates
EVEREADY Industries India Ltd has decided on the second instalment of tea garden sale. The estates to be sold are Matelli and Jainti, both in Dooars in north Bengal. Eveready has informed stock exchanges of its decision.

Castrol scrip up 16 pc on bid talk
SHARE prices of Castrol India jumped by Rs 37.45 or 16 per cent to close at Rs 271.65 on the Bombay Stock Exchange (BSE) on reports that BP Amoco is making an open offer to acquire a 20 per cent shareholding in the company.

What's in the mail for courier outfits?
GUESS who will be the biggest beneficiary of the ongoing postal strike? Not difficult to guess? The courier companies, naturally? The general perception is that courier companies experience a boom in business whenever a postal strike occurs.

TTK Prestige to acquire 26 pc stake in Softel
TTK Prestige Ltd is acquiring 26 per cent equity stake in the Gujarat-based Softel Machines Ltd for an undisclosed sum. Softel Machines is not listed on the stock exchanges and deals with domestic electric appliances.

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