Accountancy
ICAI council meet on `discontinuing operations'
THE Central Council of the Institute of Chartered Accountants of India (ICAI) will meet here from August 1-3 to deliberate on the proposed accounting standard (AS) on `discontinuing operations.'

Advertising & Marketing
Fiat puts Tendulkar in driver's seat
FIAT has signed cricketing star Sachin Tendulkar as brand champion. His association with the brand will kick-off the company's new initiative into the Indian market and will commence with the soon-to-be-launched Palio.

Coffee house gives way to generationext's new flavour
DID the coffee house culture go away with a generation that had the time to sit around with a cup of the hot beverage as they discussed what hailed the nation, its politicians, its art, its music and literature?

Agriculture
Agri Intex 2001 begins
COIMBATORE: Agri Intex 2001, a week-long agricultural exhibition, jointly organised by the Coimbatore District Small Industries Association (CODISSIA) and the Tamil Nadu Agricultural University (TNAU), began on Tuesday at the CODISSIA Trade Fair complex here.

No middlemen please!
Banana auction being held at a road side at Kumaramputhur in Kerala's Palakkad district. Under the Kerala Horticulture Development Programme (KHDP), farmers sell their vegetables directly to vendors. About 5 per cent of the sales proceeds is paid to KHDP as a service fee. In this auction, bananas were sold at Rs 10 per kg.

Agri-concerns
Rural development is real development. In an agrarian economy, though the contribution of the service industry to GDP is high, the agricultural sector must be nursed for immediate recovery.

Airlines
AI staff may not get berth on board after divestment
AIR India workers are unlikely to find a place on the recast board of the airline immediately after the disinvestment process is completed.

Banking and Finance
Don't `bank' on insurance
The UTI muddle should be reason enough not to have `Integration of banking and insurance' (Business Line, July 30). Wherever banking is owned by insurance companies or vice-versa, they should come under separate managements and under their respective con trolling authorities so that the funds of one cannot be diverted to the other.

Commodities
Jute packaging order extended
NEW DELHI: The Government has decided to extend by one week the present notification under the Jute Packaging Material (compulsory use in packing commodities) Act of 1987, pending approval of a new notification by the Cabinet Committee on Economic Affair s.

Open sale prices of wheat unchanged for August
THE Food Corporation of India (FCI) has decided not to tamper with the prices of wheat offloaded to roller flour mills under its open market sale scheme (OMSS).

Corporate
Jaiprakash Ind to seek nod for investment in subsidiary
JAIPRAKASH Industries Ltd (JIL) will seek shareholders' nod at the forthcoming AGM on August 27 to invest an aggregate amount of up to Rs 138 crore, in one or more tranches, in the share capital of its subsidiary company Jaiprakash Hydro-Power Ltd (JHPL) .

TNEB may not extend deadline to SIV
THE Tamil Nadu Electricity Board (TNEB) is not likely to extend the deadline for SIV Industries to pay its dues amounting to Rs 2.8 crore.

Metal Box revival plan hits another roadblock
THE revival of Metal Box India Ltd, it appears, has again hit a roadblock, causing disillusionment among employees and others.

MRL board restores powers to B.K. Modi
THE board of Modi Rubber Ltd (MRL) today restored to Dr B.K. Modi all the functionary powers vested with him prior to the fateful June 28 board meeting.

UB set to offload stake in Mangalore Chem for Rs 60 cr -- Valuation diluted to `realistic' price
THE UB group is gearing up to offload its 30.44 per cent stake in Mangalore Chemicals & Fertilizers (MCF) for about Rs 60 crore. This marks a significant climbdown in MCF's valuation as UB initially looked at a figure close to Rs 100 crore from the sale.

`Other income' shores up RIL bottomline
THE 13.81 per cent growth in the bottomline of Reliance Industries in the first quarter of fiscal 2001-02 has to be seen in the context of two main factors. First, the generous help from `other income' which was higher by 63 per cent or Rs 49 crore compa red to the same period last year. And second, the 13.76 per cent drop in interest charge to Rs 257 crore, courtesy the repayment/pre-payment of long term-debt and substitution of high cost borrowings with lower-cost ones.

Modipon allowed to take part in MRL open offer
THE Modi Rubber open offer issue has taken a fresh turn with the Securities Appellate Tribunal (SAT) today allowing Modipon Ltd to participate in the open offer made by Modi Rubber Ltd (MRL).

Blue Dart opens office in Bangalore
BANGALORE: Blue Dart Express Ltd, integrated air express and logistics company, has opened its office in Bangalore, strategically located close to the airport.

Economy
Central schemes streamlined, 139 scrapped
IN a move designed to impart distinct improvement in expenditure management and ensure the efficacy of plan initiatives, the Planning Commission has knocked off as many as 139 Centrally Sponsored Schemes (CSSs) out of 256 such schemes. Official sources t old Business Line here that though talks were under way for quite some time to transfer CSSs to States or converge or merge or weed out schemes that had outlived their utilities, it is only during this week that a decision was taken by the Members of the Planning Commission at the Secretary level meeting on the transfer/ convergence/ weeding out of CSSs for the Tenth Five Year Plan.

Anti-dumping duty on two EU products
THE Finance Ministry has imposed definitive anti-dumping duty on all imports of theophylline and caffeine from the European Union (EU).

Maran to open CII seminar on exports to China
THE Minister for Commerce and Industry, Mr Murasoli Maran, is to inaugurate a national seminar on `Exporting to China - Opportunities and challenges' being organised by the Confederation of Indian Industry (CII) here on August 2.

Editorial
Realigning duty rates
CORPORATE INDIA IS more accustomed to relying on backroom manoeuvres and lobbying for securing a favourable tax regime from the government. In the circumstances, it is quite extraordinary that Jindal Aluminium should have adopted an aggressive posture in coming out with a newspaper advertisement castigating the Government for not bringing down the import duty on raw aluminium.

Environment
Scanning the oceans from floats
`EL NINO' and its less well known cousin `La Nina', were two crucial phenomena that had a major impact on the variations in global climate and natural disasters during the last decade.

Dust settles over Kerala's `red rain'
IT'S official. The coloured rain in some parts of Kerala was caused by the fine dust thrown up by a disintegrating meteorite. The celestial body, passing at great speed, deposited the dust in the monsoon clouds, causing the downpour of colour.

Fast track
Equities display see-saw trend in Q1
RESULTS for the first quarter of 2001-02 have started pouring. The results announced thus far have thrown up a few interesting patterns.

Financial Performance
Grasim net zooms 72% to Rs 102.24 crore
MUMBAI: Grasim Industries Ltd has reported a 72 per cent increase in net profit at Rs 102.24 crore for the quarter ended June 30, 2001 as against Rs 59.43 crore in the year-ago period.

Astra Microwave net profit at Rs 1.08 crore
HYDERABAD: Astra Microwave Products Ltd (AMPL) has registered a significant growth both in turnover and net profit for the first quarter of the current fiscal ended June 30, 2001.

Sathavahana Ispat net profit at Rs 77.93 lakh
HYDERABAD: Sathavahana Ispat Ltd (SIL) has registered a significant growth both in sales turnover and net profit for the first quarter of current fiscal year ended June 30, 2001.

HBL Nife net profit at Rs 59 lakh
HBL Nife Power Systems Ltd has registered a growth both in turnover and profit for the first quarter of current fiscal year ended June 30, 2001.

Coates of India net profit down at Rs 1.3 crore
KOLKATA: Coates of India Ltd, for the second quarter ended June 30, 2001, has recorded a drop in net profit at Rs 1.3 crore (Rs 2 crore). Net sales for the period under review, however, has increased to Rs 4.61 crore (Rs 4.29 crore).

Nagarjuna Construction net profit down at Rs 2.02 crore
HYDERABAD: Nagarjuna Construction Company Ltd has achieved a turnover of Rs 83.01 crore for the quarter ended June 30, 2001 against Rs 50.01 crore in the same period the previous year.

Ambika Cotton net down at Rs 69.89 lakh
COIMBATORE: In line with the general industry trend of rising input costs eroding the profitability, Ambika Cotton Mills Ltd has recorded a higher turnover but lower profit in the first quarter of the current fiscal.

Albert David turnover set to touch Rs 100 cr
FOR the first time in its 62 year-history, Albert David Ltd is confident of registering a Rs 100-crore turnover during the current financial year with the introduction of new drugs, which are highly profitable, according to the Executive Director, Mr K.P . Mundhra

Apollo Hospitals Q1 net down at Rs 6.5 cr
CHENNAI: Apollo Hospitals Enterprise Ltd has registered a net profit of Rs 6.5 crore in the first quarter of 2001-2002. This is a drop of 10.95 per cent from the net profit of Rs 7.3 crore registered during the corresponding period of the previous finan cial year.

AstraZeneca Q1 loss at Rs 99 lakh
BANGALORE: AstraZeneca Pharma India (formerly Astra-IDL Ltd) has posted a 42.69 per cent net loss for the quarter ended June 30, 2001. It showed net loss of Rs 99 lakh compared to a profit of Rs 173.96 lakh posted during the same quarter of 2000.

DCM Shriram net up at Rs 13.58 cr
NEW DELHI: DCM Shriram Consolidated Ltd (DSCL) has posted a higher profit before tax of Rs 13.58 crore for the first quarter of the current financial year against Rs 10.02 crore in the previous year.

Finolex Cables net up at Rs 10.42 cr
PUNE: Finolex Cables has reported a net profit of Rs 10.42 crore for the first quarter ended June 30, 2001 against Rs 9.29 crore in the same period the previous year.

Indo Gulf net rises 16% to Rs 50.47 cr
MUMBAI: Indo Gulf Corporation Ltd (IGCL) has reported a 16 per cent increase in net profit at Rs 50.47 crore for the first quarter ended June 30, 2001 as compared to Rs 43.34 crore in the year-ago period.

Graphite India net at Rs 4.40 cr in Q1
KOLKATA: As part of a `de-bottlenecking exercise' aimed at tackling recession, Graphite India Ltd shall focus almost all its resources on manufacturing UHP (ultra high power) electrodes.

Krebs Bio's Q1 profit increases
Krebs Biochemicals Ltd (KBL) has registered a growth of over 120 per cent in turnover and 75 per cent in net profit for the first quarter of the current fiscal ended June 30, 2001.

MRF's Q3 net down 32 pc; seeks Government support
MRF Ltd has reported a net profit of Rs 8.19 crore for the quarter ended June 30, 2001, 31.6 per cent lower than the Rs 11.98-crore recorded in the corresponding quarter of last year.

Lupin profit up at Rs 16.11 cr in Q1
MUMBAI: Lupin Ltd has posted an increase in net profit at Rs 16.11 crore in the first quarter ended June, 30, 2001 against Rs 2.08 crore in the corresponding period last year.

Madhucon Projects net profit at Rs 2.81 crore
HYDERABAD: Madhucon Projects Ltd, engaged in the execution of infrastructure projects such as national highways, has earned a net profit of Rs 2.81 crore for the first quarter of the current fiscal ended June 30 (Rs 1.43 crore).

Mahindra Ugine's Q1 net
MUMBAI: Mahindra Ugine Steel Company Ltd has reduced its net loss to Rs 2.27 crore for the quarter ended June 30, 2001, compared to a net loss of Rs 7.24 crore in the year-ago period.

Parry Agro net loss at 2.06 cr
CHENNAI: Parry Agro Industries Ltd has reported a net loss of Rs 2.06 crore on a sales of Rs 19.71 crore for the three months ended June 30, 2001 against a net profit of Rs 1.24 crore on a sales of Rs 21.03 crore during the corresponding period in the pr evious year, according to a company press release.

Premier Explosives net dips
Premier Explosives Ltd (PEL) has registered a significant growth in turnover and a fall in net profit for the first quarter of the current fiscal ended June 30, 2001.

Padmalaya Telefilms net profit at Rs 3.20 crore
HYDERABAD: Padmalaya Telefilms Ltd has earned a net profit of Rs 3.20 crore for the quarter ended June 30 against Rs 2.08 crore in the same period the previous fiscal.

Saw Pipes net down 30 pc at Rs 3.82 cr
NEW DELHI: Saw Pipes Ltd has reported a total income of Rs 56.92 crore for the quarter ended June 30, 2001 against Rs 138.22 crore in the same period the previous year.

Videocon Intl net at Rs 33.57 cr in Q1
MUMBAI: Videocon International has posted a net profit of Rs 33.57 crore for the quarter ended June 30, 2001 compared to Rs 33.04 crore during the corresponding period last year.

Voltas net vaults to Rs 1.77 cr
MUMBAI: Voltas Ltd has reported a 145 per cent increase in its net profit at Rs 1.77 crore for the quarter ended June 30, 2001 as compared to Rs 0.72 crore in the year-ago period.

Coromandel Fertilisers net profit at Rs 5.67 crore
HYDERABAD: Coromandel Fertilisers Ltd has posted a turnover of Rs 81.30 crore and a net profit of Rs 5.67 crore during the quarter ended June 30, 2001, against a turnover of Rs 85.72 crore and a profit of Rs 6.62 crore registered in the same period the p revious year.

Agro Tech Foods Q1 net up
AGRO Tech Foods Ltd has posted a turnover of Rs 196.1 crore and a net profit of Rs 1.1 crore during the first quarter of the current fiscal. The company's turnover has doubled but its profit has marginally increased when compared to the turnover of Rs 96 .3 crore and a profit of Rs 1 crore registered during the corresponding period in the previous year.

Gujarat Ambuja net up 6 pc at Rs 186 cr
THE board of directors of Gujarat Ambuja Cements Ltd has recommended a dividend of 50 per cent for the year ended June 30, 2001 (40 per cent in the previous year), amounting to 44 per cent payout of net profit for the year.

Reliance net up 14 pc in Q1
RELIANCE Industries Ltd has reported a 14 per cent increase in net profit at Rs 618 crore for the first quarter ended June 30, 2001 against Rs 543 crore for the same period last year.

M&M cuts loss in first quarter
MAHINDRA & Mahindra Ltd (M&M) today announced a net loss of Rs 29.62 crore for the first quarter ended June 30, 2001, as against the Rs 34.28-crore profit after tax of the previous corresponding period.

Dr. Reddy's Q1 turnover up 32%
DR. Reddy's Laboratories Ltd (DRL), the Hyderabad-based pharma major, has registered a growth of 32 per cent in turnover and 115 per cent in net profit for the first quarter of current fiscal ended June 30, 2001.

MTNL net up 2.24 pc
MAHANAGAR Telephone Nigam Ltd (MTNL) today announced a marginal 2.24 per cent increase in its net profit for the quarter ended June 30 at Rs 377.30 crore as against Rs 369.05 crore in the corresponding quarter.

Aurobindo Pharma Q1 net, sales down
AUROBINDO Pharma Ltd (APL) has suffered a fall in both turnover and net profit for the first quarter of current fiscal ended June 30, 2001.

Balaji Tele net at Rs 4.94 cr
MUMBAI: Balaji Telefilms Ltd reported a net profit of Rs 4.94 crore for the quarter ended June 30, 2001.

Rallis back in the black
RALLIS India Ltd has returned to profitability in the first quarter of the current fiscal, with a net profit of Rs 20.36 crore as against a net loss of Rs 15.06 crore in the year-ago period.

Food & Dairy Products
Pineapple export zone proposed in Bengal -- MoU to be signed with APEDA soon
THE Agricultural and Processed Food Products Export Development Authority (APEDA) and the West Bengal Government will be shortly entering into a memorandum of understanding (MoU) for establishing a pineapple export zone in Jalpaiguri area.

Foreign Trade
Scope of market access initiative scheme widened
EXPORT Promotion Councils (EPCs) and other trade promotion organisations (TPOs), under the expanded `Market Access Initiative' Scheme recently proposed by the Commerce Ministry, will now be required to project their requirements for undertaking market pr omotion efforts overseas on a `country-product focus approach' basis in a single project.

Information Technology
E-governance: For India or Bharat?
ON July 23, even casual Internet surfers were surprised to find some confidential and secret files of the External Affairs Ministry scattered all over cyberspace. Normally, it would require the wily tricks-in-trade of a James Bond to be able to catch eve n a glimpse of these `For your eyes only' documents. Why was the Ministry suddenly handing over its secrets even to those who were not interested? It came out to that it was not the bosses in the Ministry but a minuscule virus, nicknamed w32.sircom, that had got into the Government's computer system and was pilfering and scattering the state secrets.

RIL will `eventually' hold 45 pc stake in infocom venture
RELIANCE Industries Ltd (RIL) will ``eventually'' hold 45 per cent stake in Reliance Infocom, Mr Anil Ambani, Managing Director, RIL, said today.

Infrastructure
NHAI board clears two annuity projects
THE annuity method of building highways is set to take off with the board of National Highways Authority of India (NHAI) clearing two projects under this concept on Tuesday in favour of the lowest bidder -- G Mallikarjun Rao (GMR) Group.

Insurance
Bajaj brand name fetches Rs 45 crore from Allianz
domestic foray into insurance partnering Allianz, received a ``goodwill'' payment of Rs 45 crore from the German company for using the Bajaj brand.

Miscellaneous
Shooting galleries
ON July 28, a US court sentenced a 14-year old boy who shot his teacher dead for no apparent reason to 28 years in prison without parole or time off for good behaviour, followed by two years in house arrest and a further five years of probation. This is only the latest in a series of similar crimes in which students have been involved.

Bond of brotherhood
With Raksha Bandhan round the corner on August 4, brisk business seems to be in store for a Mumbai shop.

Mutual Funds
US-64 leans heavily on other schemes
THE Unit Trust of India has relied heavily on schemes other than US-64 to generate income in the second half to cover the dividend payment for 2000-01.

A `hurt' PM offers to quit -- Opposition calls it pure drama
THE fallout of the US-64 saga has acquired a new dimension with the Prime Minister, Mr Atal Bihari Vajpayee, today throwing his own ruling National Democratic Alliance (NDA) constituents off-balance, with his dramatic offer to resign. This comes just a d ay after a Member of Parliament from the Shiv Sena, a prominent alliance partner, pointed a finger at the alleged involvement of the Prime Minister's Office (PMO) in influencing investment decisions of the Unit Trust of India (UTI).

`Give me a chance to counter charges': Sinha
THE Finance Minister, Mr Yashwant Sinha, today said that he was determined to reply in detail to each of the charges levelled against him and the Government over the alleged mishandling of the Unit Trust of India's (UTI) affairs.

UTI geared for redemptions
THE Unit Trust of India (UTI) is geared to meet the redemptions under Unit Scheme-1964 (US-64) beginning tomorrow. The UTI Chairman, Mr M. Damodaran, said that UTI is prepared even for the worst scenario where most of the investors line up for redeeming their maximum 3,000 units.

UTI blacks out US-64 net assets & reserves in ad
THE Unit Trust of India (UTI) has not published key financial details regarding its flagship fund, Unit Scheme-1964 (US-64). In the summary half-yearly accounts published in an advertisement form, UTI has provided only the unit capital for US-64.

PSU
COPU picks holes in MMTC gold business
THE Committee on Public Undertakings (COPU) has found gaping holes in the import of gold and its trading by MMTC Ltd, the public sector company involved in bulk handling of materials, as also the management of the policy by the Ministry of Commerce in th e period 1988-1991 and 1992-97 under the various schemes of gold trade.

Petrochemicals
Haldia Petro's PF default just a `procedural glitch'
THE surprise entry of Haldia Petrochemicals Ltd (HPL) in the list of provident fund (PF) defaulters - in the company of a clutch of jute companies, former blue-chips such as Dunlop and Shaw Wallace, and ailing PSUs - is being described as a ``procedural glitch'' by the HPL management.

Policy
Tobacco Board reconstituted
THE Central Government has re-constituted the Tobacco Board for a period of three years.

Bill to amend Livestock Act tabled
THE Government tabled in the Lok Sabha on Monday, a Bill to amend the Livestock Importation Act, 1898 in order to extend its jurisdiction to the import of `livestock products' as well.

Insurance Bill cleared
THE Union Cabinet today approved the introduction of the Insurance Amendment Bill 2001 which seeks to allow cooperative societies into the insurance business besides allowing brokers to become insurance intermediaries. The Bill will be introduced during the current session of Parliament.

Takes over as DCA Secretary
NEW DELHI: Mr Vinod Kumar Dhall, a 1966 batch IAS officer, has taken over as the Secretary, Department of Company Affairs (DCA).

Politics
Don't make Phoolan an icon
PHOOLAN Devi led a most unusual life. At the risk of sounding cruel, one can only conclude about her gruesome death that those who live by the sword must also perish by it. Granted she was an oppressed woman. Married at the age of 11 to a much older man, she faced many a tribulation and was the victim of social injustice which forced her to resort to the gun. But one is a little puzzled at the attempt to transform her, in her death, into the heroine she certainly was not.

Democracy in Indonesia -- Dogged by rebellion
UNFASHIONABLE though it might be to say so, the contrast between Indonesia's turbulent change of guard and the orderliness with which power is transferred in India after elections highlights the difference between Dutch and British colonialism. It also d emonstrates that, contrary to what some Indians argue, a presidential system is not an automatic guarantee of stability.

Power
Automating power distribution
WITH the focus shifting to offshore software development, the demand-supply gap in power is expected to grow by at least twenty per cent this year. The trend is expected to continue in the near future, with no significant generating capacity coming up in the country, giving rise to a spectre akin to the California power crisis.

Spurt in AP's per capita power consumption
THE per capita consumption of electricity in Andhra Pradesh has improved considerably to 510 kWh as against 410 kWh before the initiation of power sector reforms in the State, which is an indicator for the economic development, according to the Chairman and Managing Director of the AP Transmission Corporation, Mr P. Ramakanth Reddy.

Ocean thermal conversion plant in Tuticorin
ISLAND nations -- Mauritius, Seychelles and Maldives -- have sought India's expertise in the setting up of ocean thermal energy conversion (OTEC) plants.

SSI
`Gujarat model' scheme to revive AP sick SSIs
IN a significant development for sick units in the small scale industries (SSI) sector in Andhra Pradesh, the State Government has introduced a revival scheme, modelled on the scheme for rehabilitation of small scale non-BIFR sick but viable industries r ecently introduced by the Gujarat Government.

States
AP gearing up to combat drought-like situation
CONCERNED over the inadequate rainfall this monsoon, the Andhra Pradesh Government is gearing up to meet the emergent situation to tide over the crisis and mitigate the problems of the farm community.

Chamber against Kerala move to implement TOT
A DELEGATION of the Indian Chamber of Commerce and Industry called on the Kerala Chief Minister and apprised him of the consternation of trade and industry pursuant to the imposition of turnover tax in the State.

Unicef, charting out perspective plan for AP
THE Unicef, in league with the Andhra Pradesh Government, is charting out a comprehensive result-based perspective plan which will identify areas for thrust aimed at mid-term correction and to initiate focussed development.

National policy on Co-ops soon
THE Centre is expected to come out soon with a national policy on co-operatives which recognises the cooperatives as a distinctive sector of the economy with individual institutions being considered as potential instruments of socio-economic development.

Coimbatore to have mini Tidel park
COIMBATORE has been identified as the destination for a proposed mini tidel park.

Steel
`Tata Steel keen on attractive buys'
TATA Steel today enjoys pride of a place at Bombay House, having authored not just a turn around story but setting globally acclaimed standards in the steel industry. Mr R.C. Nandrajog, Vice-President (Finance), Tata Steel, spoke to Business Line on some of the issues facing the company. Excerpts:

Stocks
RIL, Infosys, ITC boost Sensex
THE markets ended on a positive note on Tuesday boosted by considerable uptrend in certain index heavy weights. The benchmark Bombay Stock Exchange Sensitive index (BSE Sensex) closed 1.32 per cent up at 3329.28 points compared to Monday's close of 3285. 89 points.

Reliance sparks interest in Lyons Range
PRICES firmed up on Lyons Range on Tuesday following an increased buying. The CSE-40 index, which opened at 1728.65, closed at 1752.68, while the CSE-50 index settled at 121.37 after opening at 119.24.

Founder-member of MSE dead
Mr K.S. Vaidyanathan, partner, Paterson & Co, and one of the founder-members of the Madras Stock Exchange, died here on Tuesday. He was 81

Sugar
`Use cane by-products effectively'
TANUKU: Effective by-product utilisation is the key to ensure better returns to the sugarcane farmer and the example of Andhra Sugars is a commendable one, said Mr N Chandrababu Naidu, the Andhra Pradesh Chief Minister, speaking at the Golden Jubilee cel ebrations of Andhra Sugars here.

Taxation
Service tax
The Government recently introduced service tax on various services, including credit card transactions. The Government's move to include credit card transactions under service tax net is surprising.

Technical Analysis
Downtrend terminated
THE bulls dominated the proceedings on Tuesday. This led to the termination of the downtrend in the index. The intra-day movement in Nifty was around 13 points. It closed higher with a gain of 15 points over Monday's close. The sentiment reading of t he tradable counters remained bearish.

Telecommunications
Bharti wins 8 circles in fourth cell bid
BHARTI Enterprises has bagged eight circles for the fourth cellular slot as the Government today opened the third and final round of bids following the Madras High Court vacating its stay on the bidding process.

HC lifts stay on licence for fourth cell operator
THE Madras High Court on Tuesday vacated the interim stay ordered by it against grant of licence to the fourth cellular operator for mobile cellular service in the country.

Textiles
Picking up lost threads?
A woman at work at a Harijan Weavers Industrial Coop Society under the Kerala Government's Serifed Project.

Source:Business Line