Financial Daily from THE HINDU group of publications
Tuesday, May 11, 2004

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Markets weighed down by political, global factors — Sensex loses sharply; rupee sheds 38 paise
THE impact of the weak Asian market coupled with the uncertainty over the poll outcome pushed the Indian financial market over the edge today. While the benchmark stock indices shed nearly 2 per cent, rupee and government securities also lost ... More

Marks & Spencer gets ready for sourcing base in Bangalore
MARKS & Spencer, the UK-based retailer with over 540 stores in 30 countries, is setting up a sourcing centre in India for direct and increased operations from the country. The sourcing office, scheduled to begin operations in August this ... More

Mutual fund pass-backs: Everyone gets a cut!
"PASS-BACKS," the bad word in the mutual fund industry, has reared its head again, this time with distributors accusing asset management companies (AMCs) of initiating the practice. Distributors claim that while most of them are not in favour ... More

IA starts inquiry on missing gold
INDIAN Airlines has started an internal inquiry into the mysterious disappearance of over 20 kg of gold being transported on its flight from Mumbai to Delhi on May 7. Official sources indicated that the inquiry would focus on whether there have ... More

Treasury gains lift PSBs' profits
PUBLIC sector banks can be expected to rake in at least Rs 18,000 crore in profits for the fiscal ended March 2004. That is, if the 14 banks (including a number of big banks) that are yet to announce their results stick to the trend laid by the ... More

7-year auto loan: Analysts wary of its long life
THE 7-year auto loan scheme has found instant success with first time car and two-wheeler customers. But auto analysts are sounding a note of caution. "It is early days yet and both the customers as well as the finance companies should ... More

A mother's gift gives new life to 5
A RARE gift by a mother on Mothers' Day has rekindled life in five persons. Ms Sita Mahalakshmi, whose 11-year-old son died in an accident a couple of days back, approached doctors and expressed their family's willingness to donate the vital ... More

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