Financial Daily from THE HINDU group of publications
Wednesday, July 28, 2004

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Calculation of mobile licence fees — Revenue from handsets may be exempted
IN a move that could encourage operators to bundle mobile handsets with every connection, the Department of Telecom is considering to exclude revenues earned from sale of handsets from the company's annual income used to calculate the licence fee ... More

Reliance Industries Q1 net rises 30 pc
RELIANCE Industries Ltd (RIL) has reported a 30 per cent increase in net profit at Rs 1,437 crore (Rs 1,104 crore) for the first quarter ended June 30, 2004. Net sales were up 14.23 per cent at Rs 14,280 crore (Rs 12,501 crore). Earnings per ... More

Who is buying GTB stock?
MARKET players were puzzled today to find an abnormally high volume in the Global Trust Bank stock. A total of around 7-crore shares changed hands on the BSE and the NSE. On the NSE, the Rs 10 share traded within a range between 10 paise and ... More

SBI first quarter net up 17.55 pc
STATE Bank of India has recorded a 17.55 per cent growth in net-profit for the first quarter ended June 30, 2004, at Rs 1,058.40 crore as against a net profit of Rs 900.36 crore in the corresponding period in the previous year. However, the ... More

Oriental Bank sees Rs 800-cr gap on merger
ORIENTAL Bank of Commerce (OBC), which is acquiring Global Trust Bank (GTB) as per the RBI scheme, is confident of recovering a good amount of the latter's non-performing assets of (NPAs) at the earliest. Talking to newspersons immediately ... More

New claimant to M.P. Birla's assets emerging
A NEW claimant to the M.P. Birla group's assets emerged on Tuesday with Ms Gita Sanghi (based in Indore), daughter of Mr Gajanan Birla, approaching a leading city-based lawyer, Mr Pramode Khaitan, on the matter. Tuesday's development opens a ... More

New judge assigned for Birla will case
The case has been assigned to the court of Mr Justice Kalyan Jyoti Sengupta. More

Anu Aga to hand over Thermax reins to daughter
THE Thermax Chairperson, Ms Anu Aga, is all set to step down and hand over charge to Ms Meher Pudumjee, her daughter. She had taken charge of the company after the demise of her husband, Rohinton Aga, a few years ago. Ms Aga, who became ... More

Cognizant to add 5,000 employees globally
COGNIZANT Technology Solutions will end the calendar year 2004 with an addition of about 5,000 employees globally - a majority of them in India - taking the total employee strength to about 14,000. This is an increase from the original ... More

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