Financial Daily from THE HINDU group of publications
Tuesday, October 26, 2004

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Reliance Q2 net rises 39 pc — Improved margins in petrochem, refining
IMPROVED margins in petrochemicals and refining helped Reliance Industries Ltd (RIL) report a 38.7-per cent jump in its second quarter net profit to Rs 1,752 crore as against Rs 1,263 crore last year. RIL's net sales for the quarter ended ... More

Big-time share deals — Ministry asks RBI to explore `prior approval' for private banks
THE Ministry of Finance wants the Reserve Bank of India to hop back one step in clearing big-time share transactions in private sector banks. The Ministry has asked the RBI to explore the possibility of according prior approval to share deals ... More

Chennai airport development thru jt venture route planned
With the Tamil Nadu Government showing keen interest in expediting the project, there should be little difficulty in the process being implemented quickly, officials said. More

Ispat Intl in $17.8-b deal to form Mittal Steel — To merge with LNM Holdings, ISG
ISPAT International, owned by NRI business tycoon Mr Lakshmi N. Mittal, is set to emerge as the world's largest steelmaker on completion of a $17.8-billion deal under which the company is to merge with the Netherlands-based LNM Holdings and the ... More

Bank stocks dip on fears of upward rate bias
BANK stocks witnessed across the board selling on Monday's trading on fears that the Reserve Bank of India might signal an upward bias in the interest rates in the credit policy to be announced on Tuesday, brokers said. The BSE Bankex, fell ... More

PepsiCo chief bullish on India
THE CEO of PepsiCo, Mr Steve S. Reinemund, is bullish on the Indian market potential, specifically in the snack foods and beverage categories. During a breakfast meeting with editors in the Capital on Monday morning, he said that the company ... More

Legislation likely to be passed in winter session — Pvt pension funds may launch new products by end-2005
PRIVATE pension fund mangers hope to launch their products in the country by December 2005. This is based on indications that the legislation for setting up the Pension Fund Regulatory and Development Authority (PFRDA) would be passed in the ... More

India, EU spat over buffalo meat exports
INDIA and the European Union (EU) seem to be headed for another confrontation on the trade front, going by the detention of 45 containers of buffalo meat by the authorities of EU and Germany at Hamburg port a week ago. "They are consignments ... More

Pivotals lose as bearish sentiment continues
CONTINUING their losing streak, the markets were enveloped by bearish sentiment as all the indices slid sharply during Monday's trading. Click here for table The BSE Sensex closed lower by 59.6 points at 5581.5 ... More

HDFC to float real estate venture funds
THE Board of Directors of Housing Development Finance Corporation has approved the entry of HDFC into the real estate venture funds business and has given its nod for setting up two companies. HDFC Venture Capital Ltd will undertake the ... More

Demand analytics space getting hot
INDIAN firms have yet another service area to tap into - - the demand analytic services with deal sizes hovering in the 3-5 year and $30 million to $50 million range. Of course, outsourcing providers should be able to source the right ... More

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