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Thursday, July 29, 2004

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Govt clearing decks for foreign hedge funds
THE Ministry of Finance and the Securities and Exchange Board of India (SEBI) are busy scratching the sheen off participatory notes (PNs) while they prepare to put up the welcome sign for foreign hedge funds to enter the Indian capital market in ... More

Tata Motors PAT up 122 pc — Board approves listing on NYSE
TATA Motors Ltd today reported a 122.66 per cent rise in profit after tax for the quarter ended June 30, 2004, to Rs 223.36 crore against Rs 100.31 crore posted in the previous corresponding period. The board has approved a proposal to list ... More

ICAI to write to GTB auditors
EVEN as the Reserve Bank of India's letter alleging "misconduct" by statutory auditors of Global Trust Bank (GTB) does not constitute a formal complaint, the Institute of Chartered Accountants of India (ICAI) intends to write to the auditors ... More

Bond prices crash by over a rupee
FEARS of a hardening in domestic interest rates coupled with a panic bout of profit booking by bond market participants led bond prices to crash by over Re 1 across maturities in the government securities market on Wednesday. The yield on the ... More

A jinxed Ministry
THE last five years have seen no less than 10 Ministers heading the Coal Ministry, not to speak of the two Prime Ministers holding temporary charge in the interregnum. While the BJP-led NDA Government under Mr Atal Bihari Vajpayee set quite a ... More

`Transfer' holding up bank wage pact
IT all boils down to mobility. That's the word holding up a wage agreement between public sector bank managements and unions. Put simply, managements want the freedom to transfer clerks anywhere in the country. Labour unions disagree. Other ... More

The Birla-Lodha court battle begins
THE high-voltage courtroom battle between the scions of the Birla clan and Mr R.S. Lodha began on Wednesday at the Calcutta High Court with Mr Justice K.J. Sengupta asking the Birlas to clarify their locus standi in the matter of Priyamvada ... More

Pvt airline flights to Asean to be delayed
PRIVATE sector domestic airlines will have to wait a bit longer for flying to destinations in the Association of South-East Asian Nations (Asean) member countries. Official sources, while confirming that the private sector airlines would be ... More

CCEA decision on fertiliser subsidy hike soon
THE Cabinet Committee on Economic Affairs (CCEA) is to take up shortly the thorny issue of a Rs 1,200-crore increase in fertiliser subsidy for the current fiscal. The substantial hike in subsidy is on account of cost increases in the production ... More

ONGC net up 8 pc in first quarter
ONGC has posted an eight per cent rise in net profit at Rs 2,308.2 crore for the first quarter ended June 30, compared to Rs 2,134.54 crore recorded during the corresponding previous period. Turnover improved 31 per cent to Rs 10,387 crore (Rs ... More

I-T Dept may wield survey powers to widen tax base
FACED with the diktat from the Finance Minister, Mr P. Chidambaram, to go after non-salaried tax evaders, the Chief Commissioners of Income-Tax (CCITs) have hit upon the idea of utilising the powers of survey under the I-T law as an effective ... More

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