january 26, 1995

Hindustan Petroleum Corporation, Indian Oil Corporation and Bharat Petroleum Corporation have decided to join hands to promote a joint venture to undertake exploration and production of hydrocarbons, both on-shore and off-shore. Mr. S. N. Mathur, Director (Production) of HPCL, said a six-member project committee consisting of two members from each company had been formed to prepare the project report and work out other details. Mr. Mathur, however, declined to spell out the size of investment saying a firm proposal would emerge within the next three to six months... Mr. Mathur gave several reasons why India's public sector oil marketing and refining companies were interested in exploration and production activities

Short-covering leads to mild recovery on BSE

Short-covering led to an improvement in share prices on the Bombay stock market. After losing 186 points in the previous two settlements the Bombay Stock Exchange Sensitive index rose by 39 points from 3411.04 to 3450.68. However, not many market-men see an improvement in market conditions. They say that with the settlements in both the cash and forward sections ending on Wednesday, there was covering by operators, especially those based in Ahmedabad and Calcutta.

Alcatel to introduce DECT in India

Alcatel, with a 3.5 million telephone line equipment base in India, plans to introduce new generation fixed wireless technology, DECT in India. This is a new generation technology of the CT2 nature will be introduced in the end of the year. Mr. Michel Fena, Area Director India, Alcatel’s Asia Pacific Ltd, told Business Line that he saw a good potential for DECT technology in India.

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