Financial Daily from THE HINDU group of publications
Friday, November 22, 2002
Markets (Nov. 21)
BL 2501055.16 (+1.88)
BSE Sensex3101.36 (+25.88)
S&P CNX Nifty1008.75 (+7.15)
Dollar (Buy/Sell)48.15/48.28
Gold Std (10 gm)5220 (-15)

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Birlas to bid for Alliance Cap — To consider Pioneer ITI buy as benchmark
BIRLA Mutual Fund will bid for Alliance Capital, one of the two foreign fund houses that are seen to be pulling out of the country. This is the first time that a major player has publicly expressed its desire to consider acquiring Alliance. The ... More

Indian partner must hold 51 pc for FDI in news publications
THE Government on Thursday issued guidelines for foreign direct investment (FDI) in news and current affairs publications, as per which up to 26 per cent FDI will be allowed in a venture subject to the condition that the largest Indian ... More

Birlas may have got control of L&T in 2001: SEBI
THE Securities and Exchange Board of India (SEBI) on Thursday told the Securities Appellate Tribunal (SAT) that several "material facts" have emerged that suggest the Birlas may have gained management control of L&T when they bought 10.6 per cent ... More

GE Shipping pulls out of race for SCI
GREAT Eastern Shipping Company Ltd, believed to be the most serious bidder for the 51 per cent stake in Shipping Corporation of India, has decided to pull out of the race, "for the time being." The decision was taken at a board meeting of the ... More

SBI cuts deposit rates once again
STATE Bank of India (SBI) today announced reduction in domestic term deposits by 25 to 50 basis points for various maturities. This is the second cut in term deposit rates by the SBI in less than a month after the credit policy announcement on ... More

Dunlop pays out resumption wages
THE management of Dunlop India Ltd started disbursing resumption wages on Thursday to workers at its Ambattur factory here, thus bringing back on track the recommencement operations at the facility, union sources have said. A similar effort on ... More

HCI to park sales proceeds in capital gains bonds
AIR India subsidiary Hotel Corporation of India (HCI) has decided to invest a substantial part of the amount realised from the sale of its two properties, including Mumbai, aggregating Rs 115 crore, in capital gains bonds. Investment in these ... More

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