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Sunday, October 06, 2002

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INDUSTRY & ECONOMY

INVESTMENTS


Evaluation of mutual fund costs — Sifting through expense ratios
A FUND'S track record may be the single most important factor that an investor checks before opting for a mutual fund product. But it is becoming increasingly important for investors to take note of other parameters too, while deciding between ... More

Shine returns to provident fund
THE shine has returned to the provident fund, especially the PPF. Once an attractive investment option, the PPF gave way to options such as Bima Nivesh and tax-saving bonds offered by ICICI and IDBI in the past couple of years. Now, the relative ... More

Will Freedom break LML's jinx?
JUST as the Kanpur-based LML's motorcycle foray was being written off as a flash in the pan, the company launched Freedom, its new 110cc motorcycle. To add more punch to its latest launch, LML has also priced the Freedom a notch below that of ... More

Shanti Gears: Geared to customer needs
THE fixed deposit programme of Shanthi Gears is a good option for a one-year tenure. Shareholders can renew their deposits in the company (fresh deposits are not accepted). A two- and three-year deposit can be avoided, as it does not give any ... More

EIH Associated Hotels FDs
EIH Associated Hotels has indicated that it has forwarded warrants to all depositors who had deposits as on September 30, 2002. The warrant covers the principal and interest accrued. Depositors have to return the deposit receipts duly discharged ... More

ECONOMY


Barriers to growth have to go: PM
THE full meeting of the Planning Commission today approved the draft Tenth Five-year Plan (2002-07) document, with the Prime Minister, Mr Atal Bihari Vajpayee, declaring that the country could ill-afford to ignore its objective of achieving a ... More

Bank credit up Rs 3,491 cr
BANK credit has increased by Rs 3,491 crore for the fortnight ended September 20, 2002, to touch Rs 6,61,731 crore. This is inclusive of food-credit, which declined by Rs 2,815 crore and non-food credit, which rose by Rs 6,307 crore. Total ... More

ENVIRONMENT


US drive to cut greenhouse gases
THE US would like to collaborate with developing countries like India in its efforts to reduce greenhouse gases and increase the use of energy-efficient technologies. This was stated by Dr Harlan Watson, the US Government's senior climate ... More

EXCISE AND CUSTOMS


`Customs procedures to be simplified soon'
IMPORTERS of liquid bulk cargoes such as petroleum products, vegetable oils and chemicals can expect the "ullage'' problem to be sorted out soon by the Government, Mumbai's Chief Commissioner of Customs, Mr S.K. Bhardwaj, announced. He was ... More

FOREIGN TRADE


`India, lucrative partner for Poland'
CALLING for greater trade co-operation between India and Poland, the Ambassador of Republic of Poland to India, Dr Krzysztop Majka, said here today that for India, Poland could serve as a gateway for goods and services to the vast economic zones ... More

PERSONAL PRODUCTS


FMCG cos in Jan-June 2002 — Go through the wringer
THE first six months of 2002 have done much to demolish the myth that the FMCG business is a defensive business largely unaffected by economic cycles. The aggregated financials of ten major FMCG companies for the six months ended June 2002 ... More

RADIO/TV


TV content providers looking South
LOOK South seems to be the motto of the television software companies. Listed companies such as Sri Adhikari Brothers (SAB) and Creative Eye are banking on the southern television channels. SAB has started producing serials for the channels ... More

HCV/LCV/TRACTORS


Tractors: On a dry run
IT HAS been a barren fourth year in a row for the tractor industry. With neither the farmer — whose income has been badly hit by the poor monsoons — nor the government making purchases, tractor manufacturers are ploughing lonely ... More

Power drive
EVEN as the poor monsoons and the lower foodgrains sales take their toll on the farmer, he is also becoming more conscious of what he is paying for in a tractor. From the traditional bare essentials, the farmer is looking more carefully at ... More

`Lower farm income has hit sales' — Mr Rakesh Chopra, Business Head, Agri-machinery Group, Escorts Ltd.
After a tough three years, Escorts Ltd, the country's third largest tractor manufacturer, is emerging out of the shadow of prolonged labour unrest and eroding market-share. Keen on re-emerging as a focussed, quality conscious, efficient and ... More

Punjab Tractors disinvestment
PUNJAB Tractors Ltd (PTL), the Chandigarh-based tractor manufacturer, could be in for an internal rejig, if the Punjab Government, the company's largest single shareholder, disinvests its stake. The State Government has taken a decision to ... More

Track record
Escorts: Hold
PTL: Hold
M&M: Hold More

WATCHES & ACCESSORIES


`It is the mid-segment to watch' — Mr Kapil Kapoor, MD, Timex Watches
Timex Watches, a multinational watch company, is slowly gaining ground in the Indian market, which is dominated by Titan with a 50 per cent share. Timex's market share has gone up from 18 per cent to 22 per cent. With a plethora of imported ... More

DISINVESTMENT


Fernandes keeps the sell-off pot boiling
THE Government machinery on Saturday kept those keen on knowing the outcome of the "disinvestment controversy" guessing and confused, with the Defence Minister, Mr George Fernandes, stating that media reports about a possible breakthrough in the ... More

Privatisation: Why not a public offer?
AFTER a very brief period, disinvestment is back making headlines. Having got the privatisation of Bharat Petroleum and Hindustan Petroleum pushed to the back-burner, the Petroleum Minister, Mr Ram Naik, is now claiming that he is not opposed to ... More

LABOUR REFORMS


`Labour panel report not industry-friendly'
THE recommendations of the second National Commission of Labour are not likely to bring about significant improvement in productivity and performance of the Indian industry, Mr R.K. Somany, President, Assocham has said. Addressing the 145th ... More

INCOME TAX


When a gift is void
WHEN is gift void? A gift which parties agree shall be revocable partly or wholly at the mere will of the donor is void. A gift, once made, cannot be revoked. A gift may also be revoked in any of the cases (save want or failure of ... More

Valuing a loan perquisite
MY employer gives me a housing loan at 5 per cent interest and a supplementary loan at 15 per cent interest. If I avail of a housing loan of Rs 4 lakh and supplementary loan of Rs 1 lakh, how is the perquisite to be valued? Under the ... More

Perquisites/Rebates — Making use of reliefs
FOR computing relief under Setion 89(1), should the tax be taken as the tax before or after the rebates? Will the tax for the computing this relief be inclusive of surcharge or should the same be excluded? Syed Shagir Ahammed C. ... More

EXPORTS & IMPORTS


US port shutdown may spell trouble for exporters
INDIAN exporters, particularly in the garment sector, are likely to be hit severely in the coming days following the shutdown of ports on the west coast of the US. The closure is also likely to affect the repositioning of containers into India, ... More

STANDARDS & BENCHMARKS


Diamond certification launch soon
TO the domestic diamond industry the standard quality criterion is determined through the four Cs— carat, colour, clarity and cut. Now another C is being added to this criterion, certification. Diamond certification, a mandatory ... More

INVESTOR PROTECTION


Investor protection fund panel recast
THE Central Government has altered the constitution of the 13-member committee that was set up in December 2001 to administer the Investor Education and Protection Fund (IE&PF). The IE&PF, whose corpus size is reckoned to be around Rs 700 ... More
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Top Stories
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Diamond certification launch soon

`Customs procedures to be simplified soon'

TV content providers looking South

In Depth
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Sep. 29-Oct. 5
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