Financial Daily from THE HINDU group of publications
Thursday, March 04, 2004

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GM to buy Daewoo assembly assets — Production of mini-car Chevrolet Spark to begin next year
GENERAL Motors Corporation today said that it has offered to purchase the passenger car assembly assets of Daewoo Motors India Ltd (DMIL) and the principal creditors of the Surajpur-based DMIL (ICICI Bank, IDBI and Exim Bank) have accepted the ... More

ONGC: Shourie sees no legal hitch in participatory notes
THE Disinvestment Minister, Mr Arun Shourie, today said there was no legal hitch in allowing lead managers of the ONGC public offer and their associates to issue participatory notes, but added that only large investors could use the notes to ... More

Rs 680-750 band for ONGC; 5% discount for retail investors
THE Government on Wednesday announced a price band of Rs 680-750 per share for sale of a 10 per cent equity constituting 14.26 crore shares in ONGC through a book-built public offer. The retail investors would get a five per cent discount on ... More

MFs, agents still don't see eye-to-eye on service tax
THE tussle between distributors and mutual funds over service tax payment has intensified with the March 31 deadline looming large. There is an 8 per cent service tax to be paid on "distribution of mutual funds." Unlike the insurance industry ... More

Price war in detergents: What's in store for players?
WITH a price war in detergents frothing over, it's going to be cheaper to wash your dirty laundry. While P&G India announced aggressive price cuts for its brands Ariel and Tide, HLL, retail sources say, has been forced to follow suit. The ... More

SEBI bars Cyberspace promoters' associate
THE Securities and Exchange Board of India has asked Mr Shashikant G. Badani, associate of Cyberspace Ltd promoters, to restrain from buying and selling securities and associate with any corporate body to access capital market for a one-year ... More

Govt to float co for circular train in South
A CIRCULAR train covering whole of the South is taking shape, at last. A separate company will be floated soon to take care of the Rs 35-crore project. Announcing this here at a press conference, Ms Rathi Vinay Jha, Union Tourism Secretary, ... More

ICICI Bank lures insurance VRS optees for deposits
ICICI Bank has begun chasing employees of the public sector insurance companies who have opted for the voluntary retirement scheme (VRS) to mop up bulk deposits. Banking sources said that ICICI Bank has targeted all the 8,500 employees. ... More

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