Automobiles
TVS buys out Suzuki at Rs 15 per share
THE TVS group and Suzuki Motor Corporation today parted ways from their 15-year-old joint venture with the former buying out the 25.97 per cent stake of the Japanese company for Rs 9 crore.
Banking and Finance
Sinha admits IDBI is in trouble -- Sops for stocks, exporters likely
THE Government is planning another round of sops for exporters and additional measures to pep up the sentiments in the stock market including easier share buyback norms and speeding up the introduction of individual stock futures.
Corporate
Spat over Mantralayam plant lease pact -- ITC takes Agro-Tech to London court
ITC Ltd has approached the London Court of International Arbitration (LCIA) against Agro Tech Foods Ltd (AFTL), a subsidiary of the ConAgra Inc. of the US, with regard to the lease agreement of ITC's processing plant at Mantralayam in Andhra Pradesh. The
lease agreement expired on Wednesday (September 26).
Tatas to keep only 10% stake in shipping co
JAPANESE shipping company Nippon Yusen Kaisha Lines (NYK Lines) plans to buy out a 40 per cent stake out of the 50 per cent equity holding of Tata Tea in Tata NYK Transport Systems (Tata NYK).
Nationwide I-T raids on Nirma
INCOME-TAX officials on Thursday cracked down on more than 40 premises of leading detergent manufacturer Nirma Ltd across the country, including the corporate office.
Burmah Castrol offers Rs 221 for Foseco share
BURMAH Castrol Plc today announced its open offer to shareholders of Foseco India Ltd for acquisition of 12.79 lakh fully paid-up equity shares of face value Rs 10 per share. The company has offered Rs 221.8 per share.
Economy
Economy resilient, will overcome impacts: Sinha
What is the overall impact of the attacks in the US on the Indian economy?
Petroleum
APM dismantling on schedule
THE fisc is likely to come under further pressure next fiscal, with the Finance Minister, Mr Yashwant Sinha, today indicating that the Government would take on the burden of kerosene and LPG subsidies on the Budget after dismantling of the administered p
ricing mechanism for petro products.
Policy
President okays Registration Bill
THE President has given his assent to the Registration and Other Related Laws (Amendment) Bill, 2001, passed during the monsoon session of Parliament ending August 31. With this, the Bill has been notified in the Gazette of India as Act number 48 of 2001
.
IT, Telecom Ministries poised for merger
Communication and Information Technology into one single unit.
Power
AP Transco bid to meet daily demand
THE Transmission Corporation of Andhra Pradesh (AP Transco) is purchasing 3 million units (MU) of additional power from Chattisgarh Electricity Board and 8 MU from the Eastern Grid and Orissa to meet the daily energy demand in the State.
Vijaynagar power project likely to hit roadblock -- L&T seeks time to confirm participation
THE proposed Vijaynagar power project is headed for trouble at the nascent stage itself with the joint venture (JV) partner Larsen & Toubro (L&T) imposing conditions as a prerequisite to participation. L&T is the shortlisted partner in the 500-MW project
along with Karnataka Power Corporation Ltd (KPCL).
Tatas, IDBI discuss Dabhol
TATA Power officials, along with advisors J.M. Morgan Stanley, are understood to have met senior officials of the Industrial Development Bank of India on Thursday to discuss the details of Tata's proposal to buy Enron's Dabhol Power Company (DPC).
Shipping
SCI in a spot over LNG tanker project
SHIPPING Corporation of India (SCI) is faced with a Hobson's choice on the 137,000-cubic metre capacity LNG Laxmi, the tanker project it is developing jointly with Mitsui O.S.K. Lines and Atlantic Commercial Inc. (an affiliate of Enron) for Dabhol Power
Company (DPC).
States
CoOptions to e-bridge AP rural, urban divide
THE rural economy of Andhra Pradesh is set for a vital transformation through an integrated delivery mechanism both on supply and demand aspects in the agricultural sector using cooperatives as the medium.
Karnataka Plan at Rs 8,941.56 cr
KARNATAKA'S annual Plan size for the current fiscal year has been finalised at Rs 8,941.56 crore with the permission for the State to go in for higher outlay if it could identify more resources at a later stage.
Karnataka announces 25% subsidy on seeds
The Karnataka Government has announced a subsidy of 25 per cent on certified seeds for small and marginal farmers to help them boost agricultural production.
Stocks
Despite crash in stock prices -- Volumes not hit by US attacks
DESPITE the fall in stock prices after the terrorist attack on US, volume and turnover in the domestic stock market has remained unaffected since September 11. Dealers and analysts attribute this factor to the high volatility in the stock markets after t
he September 11 attacks.
High volatility in TVS-Suzuki scrip
THE TVS-Suzuki scrip today witnessed huge volatility on the bourses with intra-day volatility of over 30 per cent. The number of shares traded both on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) was very high compared to other days.
I-T men intercept Shankar Sharma
THE attempt by Mr Shankar Sharma of First Global and his wife, Ms Devina Mehra, to ``leave the country for good'' without settling their tax liability was thwarted by Income-Tax authorities at Chennai on Tuesday, according to top I-T sources.
Technology
CSIR institutes special fellowship
THE Council of Scientific and Industrial Research (CSIR) has instituted a special fellowship, `Dr Shyama Prasad Mukherjee (SPM) Fellowship' awarded to the most meritorious CSIR-UGC JRF (NET) awardees.
Telecommunications
Reliance signs deals for basic, cellular services
RELIANCE has finally set the ball rolling for its ambitious telecom ventures by signing the first set of licences for basic and cellular services.
TRAI decision on CPP likely by December
THE recommendations of the Telecom Regulatory Authority of India (TRAI) on the issue of introduction of calling party pays (CPP) for cellular mobile services are likely to be made by December this year, according to Mr M.S. Verma, Chairperson of TRAI.
Travel & Places
Unhappy September for tourism again
WHAT is the common casualty of terrorist attacks on the US, earthquakes in Latur and the outbreak of bubonic plague in Gujarat? The tourism industry, of course!
