Financial Daily from THE HINDU group of publications
Wednesday, August 07, 2002

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Luxottica told to make open offer for Ray-Ban — SEBI says takeover code violated
Even though the SEBI statement has not prescribed the price at which the offer has to be made, stockbrokers said that it would be around Rs 105 with an additional interest of around Rs 45 per share. This means Luxottica has to pay around Rs 150 per s har e to Ray-Ban shareholders, brokers said. More

Britannia promoters transfer stake to joint venture co
THE shareholding pattern in Britannia Industries Ltd (BIL) has undergone a major change with the incumbent joint promoters of the company — the Nusli Wadia group and Groupe Danone of France — deciding to transfer their total 45.34 ... More

Drought likely to hit tax collections
THE Finance Ministry apprehends that the buoyancy in tax collections during the first quarter may not be sustained in the coming months. The country's worst ever drought in 15 years is likely to impact revenues, particularly in the second half of ... More

Ferguson to do new report on Tata Finance
A F Ferguson & Co today said that it had withdrawn an earlier report prepared for Tata Finance Ltd and had assigned a new, independent team to examine and review all the data and information already collected, with a view to producing a new ... More

Investigation of claims — Surveyors want insurers to stop hiring private sleuths
A NEW tussle is set to erupt in the insurance industry, with surveyors and loss assessors deciding to pressure the Insurance Regulatory and Development Authority (IRDA) to bring to an end to the practice of insurance companies hiring the services ... More

VSNL unsure of WorldCom dues
VSNL today said there could be no assurance that it will be able to collect its WorldCom receivables or that it will not be adversely affected by WorldCom's financial difficulties. VSNL said there were "risks inherent in any bankruptcy ... More

Favourites of yore back in bookshop
FOR those who think a trip to a musty, silverfish-infested second-hand book store is the only way they'll get some of the good old days back, there's good news. Desmond Bagley, Nevil Shute, Edgar Wallace, Georgette Heyer and a host of other ... More

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