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Saturday, August 14, 2004

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DoT supports hike in FDI cap
THE Department of Telecom (DoT) on Friday said that there was no change in the proposal to increase foreign direct investment in the telecom sector from 49 per cent to 74 per cent, which was announced by the Finance Minister in his Budget speech. ... More

Warburg Pincus offloads 3.35 pc in Bharti Tele for Rs 960 crore
PRIVATE equity fund Warburg Pincus has offloaded a 3.35 per cent equity stake in Bharti Tele-Ventures for about $200 million (around Rs 960 crore) to bring down its holding in the telecom company to 15.17 per cent. The company had invested ... More

ITC, hotel subsidiaries to merge
ITC Ltd has decided to consolidate its hotels business and has accordingly proposed to amalgamate its wholly owned ITC Hotels Ltd and other hotel subsidiaries with the main company. The ITC board will consider the proposed amalgamation at its ... More

Margin-trading norms being reviewed: Bajpai
THE Securities and Exchange Board of India (SEBI) is reviewing margin-lending norms to generate better response to the system. The qualifying criteria for participation in Indian depository receipts (IDRs) would also be re-looked before the ... More

Revenue share model for FM radio unlikely
PRIVATE FM radio operators' demand for switching over from existing licence fee regime to a revenue share arrangement may not see the light of the day. The proposal has not found favour with the Finance Ministry on the grounds that the ... More

BPL plans co-branding exercise with Sanyo — Debt restructuring to be over by Sept
THE domestic consumer durables major BPL Ltd, which hived off its mainstay colour television (CTV) business into a 50:50 joint venture with Japan's Sanyo, said it will enter into a co-branding exercise with the global giant and has a plan to ... More

Inflation rises further to 7.61 per cent
THE annual wholesale price index-based inflation rate touched a three-and-a-half year high of 7.61 per cent for the week ended July 31, mainly due to a surge in the prices of fruits and vegetables, edible oil and some manufactured products, ... More

`Lodha opts out as auditor for Indo Gulf'
INDO Gulf Fertilisers Ltd has informed the BSE that Lodha & Co, auditors of the company, has decided not to offer itself for re-appointment as statutory auditors. Lodha &Co holds office as auditors until the conclusion of the next annual gene More

Crude oil import bill jumps 51 pc in first quarter
THE country's crude oil import bill climbed 51 per cent to Rs 29,551 crore in the first quarter of this financial year because of rising global crude oil prices. According to the Ministry of Petroleum and Natural Gas, net imports of oil ... More

FDI inflow zooms to $814 m in Q1
THE foreign direct investment (FDI) inflow during the first quarter of the current financial year has shot up to $814 million compared to $349 million during the same period of the previous year, according to an official release. Similarly, on ... More

Car sales rise 18 pc in July
PASSENGER car sales continued to see robust growth during July helped by new variant rollouts, discounts and attractive finance schemes. Car sales grew 18.1 per cent in the month to 70,589 units as compared with 59,789 units in July 2003, ... More

Sensex continues to register losses
HIGHER inflation rate and firm international crude prices appeared to haunt the secondary markets on Friday. Aided by the surge in prices of fruit and vegetables, edible oil and other manufactured products, inflation hit the 41-month high as ... More

`No room for panic on rubber imports'
THE Government's decision to remove port restrictions on import of natural rubber has triggered a furore in Kerala on fears of rubber prices plummeting due to higher imports. But tyre industry and traders say there is no room for panic. Kerala, ... More

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