Re hits record low
THE rupee fell by 12 paise against the dollar on Wednesday, to close at a record low of Rs. 44.14/15 following sustained corporate demand for the greenback.

Weak banks' revival plans put on hold
THE revival packages proposed by three weak banks _ Indian Bank, United Bank of India and UCO Bank _ have been put on hold, as the Ministry of Finance has sought modifications in them.

ITC net up 27%, to pay Rs 7.50
ARMED with better income and profits, the board of ITC Ltd, which met here today, recommended a dividend of Rs. 7.50 per share of Rs. 10 each for 1999-2000. This marks an increase of Rs. 2 per share over the dividend paid for 1998-99.

FIs to hold minimum 26 pc stake in BSES
FINANCIAL institutions are to hold a minimum critical stake of 26 per cent in BSES Ltd. The proposal has been discussed with the Ministry of Finance, which is understood to have approved it.

SEBI puts 632 more scrips in demat list
THE Securities and Exchange Board of India (SEBI) today increased the existing list of compulsory dematerialised trading by all investors by an additional 632 scrips.

SEBI liberalises MF investments in unlisted cos
THE Securities and Exchange Board of India (SEBI) has liberalised investments by mutual funds (MFs) in unlisted companies, effectively paving the way for MF schemes to provide start-up funding for closely held entities.

Mysore Kirloskar may sell Colchester unit to UK co
MYSORE Kirloskar Ltd (MKL), which is engaged in machine tools manufacturing, proposes to sell its Colchester products division to 600 Lathes Ltd of the UK.

`Net speed' is the challenge for Banga
MR. MANVINDER Singh Banga, who took over as Chairman of Hindustan Lever Ltd a month ago, targets a volume growth of 7-10 per cent in the next two years.

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