Financial Daily from THE HINDU group of publications
Thursday, March 14, 2002
Markets (March 13)
BL 2501122.92 (+7.61)
BSE Sensex3569.62 (+33.82)
S&P CNX Nifty1157.06.45 (+6.60)
Dollar (Buy/Sell)48.68/48.81
Gold Std (10 gm)4910 (+20)

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IBS forays into oil logistics
IBS Software Services, a supplier of software services for the travel, transportation and logistics industry, will provide GulfShare, a consortium of oil companies operating in the Gulf of Mexico, IT solutions for its transportation and logistics ... More


ICICI cuts rate on Safety Bonds
CLOSE on the heels of IDBI lowering returns on its retail debt offering, Flexibonds, ICICI has slashed the interest rates on its Safety Bonds by a quarter percentage point. In the latest issue of Safety Bonds, the ninth this year, ICICI has ... More


Court clears Reliance arm in DCL Polyesters deal
THE Andhra Pradesh High Court has dismissed the serious objections raised by the Registrar of Companies (RoC) against the Reliance group in the case of acquisition of DCL Polyesters Ltd by Synergy Synthetics Ltd, a Reliance arm. Synergy ... More

HC approves DCL Poly revamp by Reliance arm
As a part of the scheme, the company would issue 6.24 crore new equity shares of Rs 10 each to Synergy Synthetics through preferential offer route, enabling the company to have fresh funds of Rs 62.42 crore. These funds would be deployed to clear a p art of the outstanding institutional loans. More


Mauritius company to buy Hind Lever seed business
MAURITIUS-BASED India Seed Holdings Ltd (ISHL) is all set to buy out Hindustan Lever Ltd's (HLL) seeds business in India for an estimated Rs 43.20 crore. In order to hive off/get out of seeds businesses in India, HLL recently incorporated a ... More

Reckitt Benckiser open offer for Indian arm
RECKITT Benckiser Plc on Wednesday announced an open offer for acquiring the remaining 49 per cent stake in its Indian subsidiary, Reckitt Benckiser India Ltd, at Rs 250 per share, to delist it. Acquisition of the 49 per cent stake, aggregating ... More


Oracle not shifting R&D centre out of India -- To expand operations in key Asian markets
ORACLE Corporation is seeking to further expand its operations in key Asian markets and the investments in developing new technical resources is an indication of its strong commitment to the Asian region, Oracle has maintained. Denying a recent ... More

BayPackets to invest $15 m in India
A developer of telecom software for service providers, BayPackets Inc, has said it is expanding its Indian operations with plans to invest over $15 million in the next three years. The company will expand its business operations in India by ... More


DCA fee collection at Rs 503 cr
THE Department of Company Affairs (DCA) has collected fees of Rs 189.62 crore during 1999-2000 and Rs 503.18 crore in 2000-01 from registration of new companies and filing of various statutory papers under the Companies Act, 1956 in the offices ... More


ICRA to provide technical assistance to Gulf entities
ICRA Ltd, a provider of credit rating, advisory services and investment information, has entered into initial agreements with local organisations in the UAE, Oman and Kuwait to provide technical assistance and advisory services for setting up ... More


Emerging markets are where the action is, says Faber
BUY Asian stocks and sell the US ones. Pick up commodities, mining and plantations stocks. And, if you are a real estate investor, go to China and buy properties in Shanghai. These are among the tips to investors by Dr Marc Faber, author and ... More

Revoking dividends was 'unethical'
THE rush in revoking interim dividends by companies following the SEBI directive was `unethical,' the Secretary, Department of Company Affairs, Mr Vinod Dhall, said. He was speaking to presspersons on the sidelines of an international seminar ... More


Binny plans to develop township near Chennai
The area for development is expected to be Binny's properties of about 1,260 grounds at Ashwell Maidan, Joint School Compound and B&C Gardens More


Acer turns heat on notebooks; to expand market
The company intends to target key verticals such as banking and finance and oil sectors and the Government and research laboratories through system integrators. More

ICICI Infotech bullish on products biz
ICICI Infotech Services Ltd expects its products business to contribute 20 per cent of total revenues next year, up from the current share of 5 per cent, according to Mr V. Srinivasan, Managing Director and Chief Executive Officer, ICICI ... More

BPL Display to increase capacity
BPL Display Devices Ltd (BDDL), a fully-owned subsidiary of BPL Ltd, proposes to close the year ending March 31, with a turnover of Rs 385 crore. After turning around the ailing unit, Uptron Colour Picture Tubes (UCPT) plant, taken over under ... More

Samsung thrust on storage devices
NEW DELHI: Samsung Electronics India Information and Telecommunications Ltd (SEIIT) is targeting an installed-base of five million personal storage device solutions in the country in 2002, up from the current three million. According ... More


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