May 6, 1995

Mr. O. Suzuki, Chairman, Suzuki Motor Corporation (SMC) of Japan, has deferred his visit to India as the Prime Minister’s Office failed to slot him for a meeting with Mr. P. V. Narasimha Rao, during his planned May 8-10 visit. The reason for the postponement offered officially by the PMO and Maruti Udyog Ltd is that while the Prime Minister would be busy during the week in other urgent matters, Mr. Suzuki has to stay back in Japan to attend to certain specific issues. However, according to informed sources, the main reason for the cancellation of Mr. Suzuki’s visit is that while an inter-ministerial committee has been formed to arrive at a decision, the Government has not made up its mind as yet on the route to take for subscribing to the Rs. 500-600-crore rights issue proposed by the board of MUL.

Sensex spurts 100 points

Trading for the new account began on an optimistic note on the stock exchange today with the Sensex spurting by about 100 points from 3,104.23 to 3,203.81. The market has re-entered the bull orbit and this is reflected in the index which rose by over 185 points in the last three sessions. The index has recovered from the low of 3,015 to the current level. The National index shot up by 32.27 points to 1,540.24.

TRAI to decide on tariff, tech. options

Telecom tariff fixation will no longer be the exclusive prerogative of the Government, following the setting up of the Telecom Regulatory Authority formally cleared by the Union Cabinet on Thursday. According to the mandate given by the Cabinet, TRAI will “fix tariff for telecom service and ensure price regulation.” However, it will have nothing to do with the tender process and the issue of licence to service operators.

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