Financial Daily from THE HINDU group of publications
Thursday, August 26, 2004

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TCS shares close at 16% premium on debut
TATA Consultancy Services made its debut on the two premier stock exchanges on Wednesday, closing around 16 per cent higher than the issue price of Rs 850 per share discovered through book building on a price range of Rs 775 to Rs 900 per ... More

Wi-Fi services to be de-licensed — States to decide on waiving entertainment tax on broadband
THE Government has decided to de-licence Wi-Fi services as part of its broadband policy to be announced later this month. It has also decided to take up with State Governments the issue of waiving entertainment tax on broadband subscription. ... More

Truckers' strike fallout — Auto cos face supply, production problems
THE ongoing truckers' strike has started to take a toll on the automobile industry. Several automakers said on Wednesday that both production and dispatches of vehicles have been adversely impacted. They pointed out that the production might ... More

Big chunk of fuel costs flows into Govt kitty
YOU must be aware that taxes and duties are rather high on petrol and diesel in India. But did you know that more than half of what you pay for alitre of petrol and 25-40 per cent of what you pay per litre of diesel goes to the Government's ... More

Sterlite to set up steel plant in Orissa
THE Sterlite Group, promoter of the London Stock Exchange-listed Vedanta Resources Plc, has decided to set up a five million-tonne steel plant in Keonjhar district of Orissa at an approximate cost of Rs 12,500 crore. Sterlite Iron and Steel Co ... More

Fixed price project income pie shrinks for software cos
THE software industry continues to bag and execute projects more on the basis of `time and material' bids than fixed price-based contracts, indicating client preference for keeping control over the work they outsource. A look at the financials ... More

IOC board okays proposal to bid for Indonesian gas firm
THE board of Indian Oil Corporation (IOC), today approved to bid for a 40 per cent stake in Indonesian oil and gas exploration firm PT Medco Energi Internasional Tbk. ``We have completed due diligence of Medco and are now valuing the ... More

Lodhas raise questions over Birlas' joint stand
THE first day of hearing in the case between the Birlas and the Lodhas over the late Priyamvada Birla's will began with the latter raising questions regarding the joint stand taken by the Birlas. In an argument laden with data and references ... More

`Mahatma was witness to Birla clan partition'
THE very reference to Mahatma Gandhi put an end to all the hustle and bustle in Room No 7 of Calcutta High Court. Mr Anindya Mitra, the senior lawyer representing Mr Rajendra Singh Lodha, put in on record that it was none other than the Mahatma ... More

CAs worried over possible ban on non-audit services
THE controversial issue of non-audit fees that an auditor can receive from a client for whom statutory audit work has been performed has resurfaced. The concept paper on the new Company Law now seeks to prohibit auditors from offering certain ... More

India ranks 8th among Top 15 debtors
FOR a country that has over a hundred billion US dollars `tucked away in its coffers', it seems a waste of time to worry about the fact that it owed the rest of the world $112 billion at the end of December 2003. But it needs to be kept in ... More

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