Financial Daily from THE HINDU group of publications
Tuesday, September 24, 2002
Markets (Sept. 23)
BL 2501034.35 (-0.68)
BSE Sensex3021.28 (-3.07)
S&P CNX Nifty970.30 (+0.70)
Dollar (Buy/Sell)48.37/48.50
Gold Std (10 gm)5290 (+20)

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Govt plans to review taxing of dividends
THE existing policy on taxation of dividends is in for a review. The Finance Ministry has finally set the ball rolling by initiating an exercise of examining the pros and cons of taxing dividends at the hands of shareholders. "The Central Board ... More

NPA Ordinance for UTI, co-op banks on hold
THE Government has put on hold the proposal to bring Unit Trust of India (UTI) and urban co-operative banks (UCBs) under the Ordinance for recovery of non-performing assets (NPAs). The decision comes at a time when the Ministry of Finance is ... More

ICI to sell catalysts business to Johnson Matthey for Rs 140 cr
ICI India has announced the decision to divest its catalysts business to Johnson Matthey Plc. The total consideration it would get for this business is about Rs 140 crore. The catalysts business, which was started in 1984, accounted for net sales ... More

IFCI gets RBI nod for waivers during recast
IFCI Ltd has sought the Government's assistance to restructure its liabilities while at the same time asking the Reserve Bank of India to relax certain regulatory provisions during the restructuring phase. Speaking at the annual general meeting ... More

Cimmco Birla shuts unit as Concor encashes guarantee — Arbitration proceedings invoked
THE encashment of major bank guarantees worth around Rs 39 crore followed by cancellation of orders of around Rs 144 crore by Container Corporation of India Ltd (Concor) has distorted the financial performance of Cimmco Birla, one of the leading ... More

In-film ads are multi-crore bets
DOES in-film placement really offer value for money for brands? It's a multi-crore question and corporates seem to be groping for an answer. For instance, Pepsi India is believed to have invested close to a crore in the recently released ... More

Dr Reddy's wins case over `Omez'
DR Reddy's Laboratories (DRL) has survived yet another onslaught on one of its leading anti-ulcerant drugs, Omez. In an infringement case filed by the Hyderabad-based company against Sun Generics, the Delhi High Court has granted an ex-parte ... More

Here's e-astro 4 your good health
TIME was when astrologers sat under trees with parrots, predicting when you are slated to have a bad attack of disease. These days they are more tech-savvy, using Net power to diagnose and counsel people on their health, both in India and abroad. ... More

IFCI pressing on with rejig efforts
IFCI is moving ahead amidst an uncertain future, but at a snail's pace. The institution's sanctions and disbursals have come down to a trickle compared to its heydays with net assistance sanctioned during the first quarter of the current fiscal ... More

Central loans to 5 States with overdraft woes
THE Finance Ministry has decided to fund the opening deficit of five States through a medium-term loan aggregating to Rs 3,154 crore. West Bengal heads the list with the Centre extending a loan of Rs 878 crore, followed by Assam (Rs 750 crore), ... More

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