Financial Daily from THE HINDU group of publications
Thursday, March 07, 2002
Markets (March 6)
BL 2501138.01 (-2.56)
BSE Sensex3614.44 (-26.66)
S&P CNX Nifty1172.60 (-5.90)
Dollar (Buy/Sell)48.64/48.77
Gold Std (10 gm)4930 (-40)

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SEBI tells SEs to act tough on dividends
THE Securities and Exchange Board of India (SEBI) on Wednesday clamped down on companies rushing to pay interim dividend before March 31. In a notice, the market regulator directed all stock exchanges not to relax the 30 days' and 42 days' ... More

Promoters to save Rs 196 cr in taxes
PROMOTERS of companies that have declared interim dividend since the presentation of the Union Budget could together save an estimated Rs 196 crore in the form of taxes that they would otherwise have had to pay, an analysis by Business Line ... More

Finance Ministry move bursts dividend bubble
CORPORATES were surprised, some of them terribly upset, over the Finance Ministry's sudden move that has virtually scuttled their plans to offer their shareholders a `handsome' dividend. What surprised them is the sudden notice from stock ... More

US steel tariffs worry Indian majors
FACED with intense pressure from the domestic steel industry, the US Government imposed steep import tariffs of up to 30 per cent on a range of steel products on Tuesday. The move is threatening to unleash a trade war between major steel ... More

Sensex down 21 on SEBI fiat
THE SEBI directive on the issue of interim dividend coupled with profit booking pulled down stock prices on major bourses on Wednesday. The 30-share Sensex fell to an intra-day low of 3,591, down 50 points, before closing the day at 3,620, down ... More

BSNL to be split into four business units
PUBLIC sector telecom behemoth Bharat Sanchar Nigam Ltd (BSNL) is being split into four separate business units as part of a massive restructuring exercise to cope with the impending competition in basic and national long-distance ... More

GM, Rabo Bank among 38 FDI proposals cleared
GENERAL Motor Corporation's plan to infuse Rs 600-crore fresh capital in the wholly-owned Indian subsidiary, General Motors India Pvt Ltd, in the form of Rs 400 crore equity capital and Rs 200 crore preference capital is among the 38 foreign ... More

Wockhardt sells IV fluid business to Baxter India
AS part of its restructuring, Wockhardt Life Sciences Ltd today announced that it has divested its intravenous (IV) fluid business to Baxter India Pvt Ltd, a subsidiary of Baxter Healthcare International Inc, US, for a consideration of Rs 195 ... More

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