Financial Daily from THE HINDU group of publications
Tuesday, September 10, 2002
Markets (Sept. 9)
BL 2501069.45 (-13.78)
BSE Sensex3089.47 (-51.64)
S&P CNX Nifty998.55 (+3.35)
Dollar (Buy/Sell)48.48/48.61
Gold Std (10 gm)5310 (+70)

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As our office will remain closed today on account of Vinayaka Chathurthi, there will be no issue of BUSINESS LINE dated 11th September, 2002.

Bear run in PSU stocks
PSU stocks took a heavy beating on the bourses today, wiping out thousands of crores in market capitalisation following the Government's decision to defer the sale of oil majors such as BPCL and HPCL. The two stocks alone accounted for a ... More

Fund managers still upbeat
DESPITE the panic selling and lack of clear direction from the Government on disinvestment, fund mangers are still upbeat on PSU stocks. They said most of the PSU stocks are still attractively priced, and would, in fact, provide good dividend ... More

TRAI proposes Net exchanges
THE Telecom Regulatory Authority of India (TRAI) has recommended the Government to establish an Internet exchange in the country to route the domestic traffic within the country and avoid its carriage abroad. The exchange, to be called the ... More

Rakesh Mohan takes over as RBI Deputy Governor
DR Rakesh Mohan today took over as the Deputy Governor of Reserve Bank of India. Dr Mohan has been appointed or three years in the place of Dr Y.V. Reddy, who served a five-year term. Mr Reddy has been appointed as the Executive Director of ... More

Bank wage talks to kick off soon
THE battle lines have been drawn for the eighth bipartite wage settlement in the public sector banking industry. The Indian Banks' Association (IBA) and the unions under the umbrella United forum of Bank Unions (UFBU) are preparing to initiate ... More

Iran co to exit MFL during strategic sale
Bidders had raised concern over the special rights enjoyed by NIOCL since this would work against the strategic investor in MFL, thereby dampening interest in pursuing a stake. More

Champions Trophy: India to field the best
And both the sponsors and the advertising industry can now heave a sigh of relief with the Board of Control for Cricket in India (BCCI) managing to get the International Cricket Council to rework the Players Terms. The ICC has agreed to come ... More

When poll duty becomes free holiday package
NUCLEAR flashpoint? Terrorism versus democracy? If you are one of the Central Election Commission's Special Observers, the odds are that the coming Kashmir elections just mean the holiday of a lifetime - and all for free! Protected by eight ... More

Forex release norms relaxed
THE Reserve Bank of India (RBI) has permitted banks to release up to $500 worth of foreign exchange on the basis of a simple letter from resident individuals. The letter must provide basic information such as name and address of the applicant, ... More

German Remedies to close Andheri plant, offer VRS
GERMAN Remedies Ltd will offer voluntary retirement scheme to its employees at the manufacturing facility located in Andheri, Mumbai. This is part of a restructuring exercise to synergise the operations of Zydus Cadila and German ... More

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