The Hindu Business Line : Friday, February 15, 2002

Paradeep sold for Rs 151.7 cr
THE combine comprising the K.K. Birla-promoted Zuari Chemicals and Fertilisers Ltd and Maroc Phosphore of Morocco has bagged the deal for acquiring strategic control of Paradeep Phosphates Ltd (PPL) for a consideration of Rs 151.7 crore, in a ... More

PM gives nod to APM dismantling
THE Prime Minister, Mr A.B. Vajpayee, has given the final approval for dismantling the administered pricing mechanism (APM) in the petroleum sector on April 1, the Union Petroleum Minister, Mr Ram Naik, said on Thursday after a meeting with the ... More

SBI set to cut personal banking product rates
STATE Bank of India (SBI) has decided to slash interest rates on its personal banking products by 1 percentage point to 1.5 percentage point shortly. While this is line with the current interest rate scenario, bank officials also expect this to ... More

Reliance move on `takeover code violation' -- When a fine cannot be a full stop
RELIANCE Industries Ltd has voluntarily made a payment of Rs 5 lakh to SEBI against allegations of violation of provisions of SEBI's takeover code. The company has done so simply with a view to `avoiding unnecessary controversy', as it puts it. ... More

Sundaram Fin to buy out Newton stake in AMC
THE Sundaram Finance group has decided to acquire the 39-per cent stake owned by the UK-based Newton Investment Management in Sundaram Newton Asset Management Company. The Sundaram Finance group already holds a 61-per cent stake, while 39 per ... More

Discounted cash flow method for PSU valuation
THE Cabinet Committee on Disinvestment (CCD) has decided that the reserve price fixation for all PSUs lined up for strategic sale, including sick ones, will be arrived at on the basis of the discounted cash flow method. The decision to follow ... More

Panic drawals from Rupee Bank
ANXIETY, panic and anger ruled at most branches of the Rupee Co-operative Bank in the city for the third day on Thursday even as the branch heads tried to pacify angry depositors. At most of the branches, mobs rushed in and created chaos and ... More

Paid holiday for Bells Controls staff
Prior to its open offer, the directors-turned-acquirers of the instrumentation-maker, Bells Controls Ltd, have asked its 180-odd employees at the Kolkata plant to go on an indefinite paid leave from last Tuesday. The ailing Bells Controls, ... More

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