Financial Daily from THE HINDU group of publications
Friday, December 03, 2004

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Sensex, Nifty scale new peak — Fall in crude prices, FII buying add to the rally
THURSDAY turned out to be a landmark day on the bourses. Both the Sensex and the Nifty scorched all earlier records, with the BSE benchmark index breaching for the first time-ever 6,300, to close at 6,328.43. The Nifty also marked the occasion ... More

FIIs stay bullish on Indian market
INDIA is clearly the capital market destination for foreign investors as they are expected to continue their buying into 2005. Stock indices on Thursday closed at an all-time high fuelling further bullishness on the part of foreign investors. ... More

Rupee gains 34 paise; bond prices up
BUOYED by strong dollar inflows and a easing in global crude oil prices, the domestic financial markets were on an upswing on Thursday with the rupee appreciating by 34 paise and bond prices rallying by around Rs 1.50 in the debt markets. The ... More

Govt puts $500-m cap on FII investments in corporate debt
PERHAPS jolted by the sudden surge in trading in commercial paper and corporate bonds over the past couple of days, the Finance Ministry on Thursday put a ceiling of $500 million on investments by foreign institutional investors (FII) in ... More

REL to bid for coal-based project in UP
RELIANCE Energy Ltd on Thursday said it would bid for setting up a 1,000-MW coal-based power project in Uttar Pradesh. The board of directors of REL, which has already committed itself to building the 3,740-MW gas-based Dadri project in the ... More

Coal blocks allotted to Videocon, Lloyds Metal, Kalinga cancelled
THE Coal Ministry has cancelled the allocation of coal blocks to Kalinga Power, the Videocon group and Lloyds Metal, as there has been no progress in respect of the projects for which the linkages were provided to them earlier. According to an ... More

VAT regime — Input tax on goods sold via inter-State trade refundable
TAX on inputs used to produce goods sold through inter-State trade would be refundable in the proposed value added tax (VAT) regime to the extent that the input tax exceeds the output tax (4 per cent central sales tax). "The refund would have ... More

Scrap monthly sugar release system: Tuteja panel
IN a major step towards de-control, the Tuteja Committee for revitalisation of the sugar industry has called for scrapping the monthly release mechanism for free sale sugar with effect from the 2005-06 crushing season ... More

BSNL's fixed line user base down by 3.2 m
BSNL has lost 3.2 million fixed line subscribers in 2003-04. The state-owned company had lost 1.7 million subscribers the previous year. Another 1.7 million consumers are waiting to get new connections from the state-owned telecom company as on ... More

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