Financial Daily from THE HINDU group of publications
Thursday, June 05, 2003
Markets (June 4)
BL 2501190.54 (+16.31)
BSE Sensex3216.49 (+34.52)
S&P CNX Nifty1021.05 (+10.40)
Dollar (Buy/Sell)46.84/46.97
Gold Std (10 gm)5645 (-10)

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Rupee depreciation versus euro — European auto cos to absorb hike
MAJOR European automobile companies operating in India have decided to absorb the cost increases because of the appreciation of the euro against the rupee. The Indian rupee depreciated by over 36 per cent over the last one year. During the ... More


Standby charges to MSEB — Tata Power, BSES told to pay equal amount
THE Mumbai High Court today settled a three-year-long dispute between Tata Power and BSES Ltd over payment of standby charges to the Maharashtra State Electricity Board. Both companies have been asked to share the charges equally, paying monthly ... More

Tatas happy; BSES decision soon
TATA Power Company officials said the High Court's order directing BSES to pay 50 per cent of the standby charges every month from July 2003 has "fully supported Tata Power's stand regarding standby charges." BSES officials said: "MERC's ... More


Tax refunds push up fiscal deficit in April
MASSIVE refunds, leading to net negative tax revenue collections, has caused an increase in the Centre's fiscal deficit to Rs 17,140 crore during April 2003, compared to 15,239 crore for the corresponding opening month of the previous fiscal. ... More

Gujarat annual Plan fixed at Rs 7,860 cr
GUJARAT'S annual Plan for the current fiscal has been fixed at Rs 7,860 crore at a meeting between the Planning Commission Deputy Chairman, Mr K.C. Pant, and the Chief Minister, Mr Narendra Modi, here. In his opening remarks, Mr Pant said ... More


CII team for Mithradham
CII Kerala is organising an environmental study mission to Mithradham in Chunangamveli near Aluva on Thursday on the occasion of the World Environment Day. Mithradham provides an institutional structure in the area of environment protection and ... More

Please crush your PET bottle after use!
IT has become increasingly common in the sweltering summer heat to see people pick up bottles of water while on the move. Ever wondered what happens to every single PET bottle in which water is sold, every day, across the entire country? For ... More

AP forests on a revival path
IN Andhra Pradesh, forests are showing signs of revival. So is the population of wild animals. During 1997-99, the increase in forest area was of the order of 939 sq. km. During the next two-year cycle, the growth was about 450 sq km, ... More


  • `Made in India' brings business worth $110 m
  • New phone at J-DGFT Office


    Catching them young with `Life Skills'
    THE ACTIVITYTM, an organisation working with schools, has launched Life Skills, an interactive programme that is endorsed by the World Health Organisation (WHO). The programme deals with those skills that are necessary for an individual to ... More


    Strong Re to boost oil cos' earnings
    EARNINGS of State-owned oil marketing companies are likely to improve from the second quarter of the current fiscal as hardening rupee eases their heavy import bill. However, earnings of refineries such as ONGC are seen "marginally hurt" ... More


    Pharma industry wants expert panel to study export potential
    `Karnataka has been recommended by the World Health Organisation as one of the best centres of manufacturing bulk drugs and formulations with a few multinational companies themselves operating their units.' More


    `Electricity policy implementation in six months'
    THE Government will try to implement the much-awaited National Electricity Policy and National Tariff Policy within the next six months, Mr R.V. Shahi, Union Power Secretary, said here today. He said the Electricity Act 2003 is likely to be ... More


    KCCI unhappy over tax hike
    THE Kanara Chamber of Commerce and Industry (KCCI) has expressed `deep shock and indignation' at the manner in which the Karnataka Department of Commercial Taxes has announced a one per cent hike in sales tax on over 245 categories and items in ... More

    Implementation of tax collection of source on IMFL postponed
    THE Finance Ministry has postponed the date of implementation of the new Income-Tax provision that required dealers in Indian-made foreign liquors (IMFL) to collect 10 per cent tax at source at the time of sale. Against the earlier set date of ... More


    Rs 14-cr funding helps CITD gain strength
    A TIMELY Rs 14-crore modernisation plan has helped the Central Institute of Tool Design (CITD), a national institute, to procure the latest machinery and regain its competitive edge as a customised technical solutions provider for the small and ... More


  • Water level falls further in Kerala


    DD scripts a success story
    DD-Mumbai, Sahyadri, has scripted its own path to success with revamped programming, in-house production and a Marketing division that has brought more advertisers on the channel. Its viewership and ad revenues are up significantly, and it could sta nd to make more gains in a post-CAS environment. More


    BITS, Pilani opens campus in Dubai
    ONE of India's premier engineering institutions, the Birla Institute of Technology & Science (BITS), Pilani, has opened a branch campus at Knowledge Village in Dubai. Dr S. Venkateswaran, Director, BITS, and Dean of the college, Dr M. ... More


    A summer of content
    Driving volumes, increasing cost efficiencies and packaging innovations. The soft drink industry is reinventing itself this season. More


    Diamond cos do not shine on the bourses
    THOUGH diamond is the single largest foreign earning commodity in the country accounting for around 17 per cent of the country's merchandise exports and accounts for 80 per cent of the global market by volumes, listed diamond companies are ... More


    CIDC, SIDBI sign agreement for loans to small contractors
    THE Construction Industry Development Council (CIDC) and the Small Industry Development Bank of India (SIDBI) today announced a new bills discounting scheme for contractors engaged in construction activity. "We will discount bills raised by a ... More


    `Newsprint sector needs protection'
    MANUFACTURING newsprint in the country is no longer an economically viable business, according to Mr. P.S. Patwari, Executive Director of the city-based Emami Paper Mills Ltd (EPML), the only major newsprint manufacture in the eastern ... More


    BHEL installs solar panels on satellites
    ENGINEERING major Bharat Heavy Electricals Ltd (BHEL) has achieved a major milestone with the successful deployment of space grade solar panels on INSAT 3A and GSAT2 launched by the Indian Space Research Organisation (ISRO). Both the satellites ... More


    Public utility status sought for export units in Bengal
    EXPORT units in the State should get public utility status so that they remain outside the purview of strikes and bandhs which have been plaguing West Bengal. Addressing the valedictory session of the two-day CII Export Summit here on ... More

  • Hyderabad Engagements


    Seed exports seen rising to $200 m by 2005
    SEEDS exports has the potential to grow to a whopping $200 million by the year 2005 as against the modest $20 million at present, provided the Government follows a consistent policy of allowing import of parental strains and re - exporting the ... More

    ITES exports up 44 pc: ESC
    NEW DELHI: Exports of IT-enabled services (ITES) from India grew by 44 per cent in 2002-03 over the previous year to Rs 10,500 crore ($2.16 billion), according to provisional estimates by the Electronics and Computer Software Exports ... More


    Death toll crosses 1,200-mark in AP — Task force set up to study heat wave
    The task force has been asked to study why the situation was so bad despite taking up several environment- friendly projects such as Neeru-Meeru and various forestry schemes. More
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