Financial Daily from THE HINDU group of publications
Saturday, July 19, 2003
Markets (July 18)
BL 2501293.42 (-15.05)
BSE Sensex3647.58 (-21.33)
S&P CNX Nifty1140 (-12)
US Dollar (Buy/Sell)46.22 (46.34)
Gold Std (10 gm)5270 (-10)

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Wipro Q1 net drops 9 pc sequentially — Growth will continue to be volume-led: Premji
WIPRO Ltd said its net profit for the April-June quarter of the current financial year dropped nine per cent sequentially over a three per cent slide in revenues. The net profit stood at Rs 206 crore (Rs 225.4 crore in Q4 2002) over revenues ... More

HDFC posts 22 pc rise in Q1 net
HOUSING Development Finance Corporation (HDFC) has announced an increase of 22 per cent in net profit, at Rs 167.76 crore, for the quarter ended June 30, 2003. The company had reported a net profit of Rs 137.3 crore during the corresponding ... More

Y.V. Reddy appointed RBI Governor for five-year term
DR Y. Venugopal Reddy has been appointed the new Governor of the Reserve Bank of India for a five-year term. Dr Reddy, who is currently India's Executive Director to the International Monetary Fund (IMF), will assume office from the day the ... More

Sundram Fasteners to buy promoters' stake in TVS Autolec
SUNDRAM Fasteners Ltd has informed the Bombay Stock Exchange that it has entered into an agreement with Mr K. Vasudevan and his family members for acquiring 23.55 per cent equity of TVS Autolec Ltd, from them. As per the agreement, Mr ... More

FIPB defers decision on Star uplink proposal
THE Foreign Investment Promotion Board (FIPB) has deferred Star's proposal seeking permission to uplink its news channel from India. The Government has also constituted an inter-ministerial group (IMG) to look into the proposal besides reworking ... More

India needs more flexible exchange rate policy: Rogoff
WHILE India has been following a healthy exchange rate policy, not allowing wide fluctuations in the value of its currency, there is a case for countries like India and China to work for a more flexible policy, according to Mr Kenneth S. Rogoff, ... More

IRDA decides to keep in abeyance order on insurance brokerage
"The new IRDA move would dampen the prospects of insurance brokerage and hit the brokers hard." More

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