Financial Daily from THE HINDU group of publications
Tuesday, June 29, 2004

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Delhi, Mumbai airport FDI at 49 pc cleared
THE Government on Monday approved a proposal capping the foreign direct investment (FDI) limit for restructuring and modernisation of the Delhi and Mumbai airports at 49 per cent. The four-member empowered Group of Ministers (e-GoM), which met ... More

Sensex up 81.21 on value-hunting
THE bourses were up for the third day today as market players went value-hunting before the Union Budget. Broad-based buying across sectors and sizes ensured that the indices were in the green all day. The Sensex gained 81.21 points, an ... More

ICAI guidance soon on employee share-based payments
CORPORATE India may soon have some guidance on accounting for employee share-based payments that are administered through trusts. The Institute of Chartered Accountants of India (ICAI) is set to release a guidance note on `Accounting for ... More

Amul wants NDDB nominee on board out — Cites `conflict of business interest'
IT could well be the last link between the Gujarat Cooperative Milk Marketing Federation (GCMMF or Amul) and the National Dairy Development Board (NDDB) that is about to be snapped. In the latest episode of an almost two-year-long saga, the GCMMF ... More

HPCL to get equity stake in IOC Panipat refinery
HINDUSTAN Petroleum Corporation Ltd (HPCL) will get an equity stake in Indian Oil Corporation's 6-million-tonne Panipat refinery. The deal is part of a collaboration agreement signed by the two companies on Monday, which includes joint ... More

NRIs submit wish list to SEBI task force
NOW that Indians are allowed to invest $25,000 abroad, non-resident Indians (NRIs) are seeking permission to similarly invest a maximum of $25,000 in the secondary market in India in a year without prior RBI approval. This is one of the ... More

TVS Motor net up 12 pc — 2-stroke bikes drag on profit; 4-stroke sales up
TVS Motor Company has reported a net profit of Rs 41.93 crore for the last quarter of 2003-04, up about 12 per cent from Rs 37.54 crore it achieved in the same period of last year. For the full year 2003-04, the company's net profit was Rs ... More

M&A activity has slackened: KPMG
WHILE the M&A (merger and acquisitions) activity during the first half of 2004 showed growth in the Asia- Pacific region, the Indian market witnessed reduced activity. Significantly, a large number of transactions in India have shadowed global . More

As laws lag tech, grey market in ILD flourishes
YOU do not need rocket science to prove that illegal international long distance telephony (ILD) is happening, and increasing, according to Mr S.K. Gupta, Managing Director, Videsh Sanchar Nigam Ltd. One feature in proof of this, he says, is ... More

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