Financial Daily from THE HINDU group of publications
Saturday, August 02, 2003
Markets (Aug. 1)
BL 2501349.28 (+9.52)
BSE Sensex3815.31 (+22.70)
S&P CNX Nifty1195.75 (+9.90)
US Dollar (Buy/Sell)46.13/46.26
Gold Std (10 gm)5400 (-40)

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NRIs barred from investing in small savings schemes
BARELY a fortnight after capping interest rates on non-resident external (rupee) (NRER) deposits to a maximum of 250 basis points above LIBOR, the Government has closed yet another avenue for arbitrage opportunities arising from the wide ... More

Herbertsons case: Tribunal rules in favour of open offer
WITH a rap on the knuckles of SEBI, the Securities Appellate Tribunal (SAT) on Friday reversed the regulator's order in the widely reported Herbertsons case and asked the Chhabrias to make a public offer within three months for 20 per cent equity ... More

Hindujas buy Philippine call centre unit
THE Hinduja group has bought a 930-seat call centre unit — Customer Contact Centre Inc, for an undisclosed sum from Manila-based Benpres Holdings Corp. Benpres, in a statement to the Philippines Stock Exchange, disclosed that it had sold ... More

Exports go up 11 pc, imports 38 pc in June — Trade deficit higher in Q1
IN a significant development on the external front during the first quarter in the current fiscal, the country's foreign trade provides a mixed picture with exports, imports and trade deficit all registering higher growth. According to ... More

Healthcare biz — Nandas spat continues
WILL the fault lines developing in the corporate structure of Escorts Ltd change the character of operations of the institute that is at the heart of the imbroglio? The process of "corporatisation'' of the Escorts Heart Institute and Research ... More

Get your tax penalties reduced, without hassle
INCOME-TAX assessees can now look forward to a "hassle-free" experience in getting their penalties reduced by the tax department. The Central Board of Direct Taxes (CBDT) has revised its guidelines for the compounding (the legal term for ... More

IA's Sunil Arora to hold fort at Air India too
IN a move that could lead to greater possible synergy between the two State-owned airlines, Air India and Indian Airlines, the Government on Friday appointed the IA Chairman and Managing Director, Mr Sunil Arora, as the Managing Director of the ... More

CDC open offer for Punjab Tractors, Swaraj Mazda and Swaraj Engines
CDC Financial Services, the UK-based private equity investor, has announced its intention to make open offers in Punjab Tractors Ltd (PTL), Swaraj Mazda Ltd and Swaraj Engines Ltd following its recent acquisition of 23.49 per cent controlling ... More

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