Financial Daily from THE HINDU group of publications
Sunday, February 22, 2004

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Order books swell for engineering cos — Gestation period gets shorter, execution smoother
THE order book for companies in the engineering industry is bulging. Top companies such as BHEL, L&T and Thermax have shown a sharp upswing in the value of contracts still to be executed. BHEL, for instance, had an order book value of ... More

Govt sets Rs 620 floor price for IBP, Rs 475 for CMC
THE Government has announced a floor price of Rs 620 per share for sale of its residual equity in IBP Company Ltd and Rs 475 a share for CMC Ltd, while declaring a 5 per cent discount for retail investors in the two entities privatised about two ... More

DoT approves norms for intra-circle mergers
THE Department of Telecommunications (DoT) has given its green signal for intra-circle mergers and acquisitions subject to the condition that there are at least three operators within the telecom circle, and the market share of the merged entity ... More

To beat competition, PSU oil retailers double outlets
THE public sector oil retailers have undertaken an unprecedented expansion in their business this year. This fiscal, they have more than doubled the number of retail outlets set up last year to sell petrol and diesel. The prime driver for this ... More

Outsourcing issue in US driven by politics
IT is not a question of whether legislation is coming about on outsourcing, but when this is going to take place. With the issue completely driven by politics, even well meaning Democrats who normally take a strong pro-India stance are forced to ... More

Forex reserves surge by $899 m
THE foreign exchange reserves of the country increased by $899 million to $107.506 billion for the week ended February 13, up from $106.607 billion the previous week. According to the latest weekly statistical supplement released by the ... More

Indian cos can now grant loans to staff abroad
As a measure of `liberalisation and procedural simplification,' the Reserve Bank of India on Saturday decided to grant permission to Indian companies in India to grant loans in foreign currency to the employees of their branches aboard for ... More

Rescue work on
Coal miners coming out of Tata Steel's Jamadoba colliery in Dhanbad district on Saturday. Five company officials were trapped when water entered the mine on Friday night. Two have been brought to safety while efforts are on to rescue the rest. ... More

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