Financial Daily from THE HINDU group of publications
Tuesday, December 14, 2004

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Slippage in revenue deficit target likely
THE Finance Ministry has admitted that there could be `some slippage' in meeting the revenue deficit target for the current fiscal. For 2004-05, the Centre's revenue deficit has been budgeted at Rs 76,171 crore or 2.5 per cent of the country's ... More

Jumbo lets Mallya bid for SWC liquor biz
Mr Mallya's entry into the bidding process for SWC's liquor business is significant as it could give him control over 60 per cent of the Indian Made Foreign Liquor (IMFL) market. More

Tatas serve legal notice over VSNL compensation issue
THE Tata group has served a legal notice to the Union Government on its long-standing demand for a suitable compensation package for Videsh Sanchar Nigam Ltd (VSNL) for advancing the deadline for opening up the international long distance (ILD) ... More

Tribunal grants stay on I-T demand notice to HCL Corpn
THE Income-Tax Appellate Tribunal (ITAT) has granted a stay on the over Rs 800-crore demand notice raised by the Income-Tax Department on HCL Corporation, which is the founding entity of HCL Technologies and HCL Infosystems. Reliable sources ... More

Rupee recovers, gains 52 paise
THE rupee recovered some of its earlier losses on Monday as it ended at 44.2750/2850 against the dollar, 52 paise stronger than its previous close at 44.79/80 on Friday. The weakening of the dollar in the international foreign exchange market ... More

SEBI's second rung leadership slots vacant — Last whole-time member A.K. Batra quits
THE Securities and Exchange Board of India is left with no one to head the primary markets, FIIs, mutual funds and even the investigation and surveillance functions. The second tier of the capital market regulator has been entirely wiped off, ... More

ONGC, TCS offers: Reliance denies private gain to Mukesh
RELIANCE Industries Ltd (RIL) on Monday said Smart Entrepreneur Solutions Pvt Ltd and Smart Infosolutions Pvt Ltd, which were among the top bidders in the ONGC and TCS public offers, do not belong to its Chairman and Managing Director, Mr Mukesh ... More

ICICI Bank board okays sponsored ADR size
THE board of directors of ICICI Bank Ltd on Monday approved the size of the sponsored American depository receipt (ADR) offering to be up to a maximum of 6 per cent of the bank's paid-up equity share capital. This would be about 44 million ... More

IT honchos cash in on bull run
THE recent bull run on the markets has seen a rush to sell of a different kind. Several promoters, directors, top executives of Corporate India have added millions to their kitty by selling part of their holdings over the last few weeks. The ... More

Index heavyweights, mid-cap stocks hog limelight
THE markets headed upwards on Monday, even as there were expectations of a correction. While opinion may be divided on where the markets are headed, it did not deter investors from buying in the index heavyweights — ONGC, HDFC and Ranbaxy ... More

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