Financial Daily from THE HINDU group of publications
Saturday, November 09, 2002
Markets (Nov. 8)
BL 2501034.14 (-1.53)
BSE Sensex2956.84 (-18.42)
S&P CNX Nifty956.85 (-3.75)
Dollar (Buy/Sell)48.22/48.35
Gold Std (10 gm)5290 (+40)

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Refunds turn the heat on tax dept
THE surge in direct tax refunds to Rs 14,000 crore up to the end of October 2002 and its impact on both corporate and income-tax collections have set the alarm bells ringing in the Finance Ministry. The Finance Minister, Mr Jaswant Singh, is ... More

Delta-T in talks for Praj stake
DELTA-T Corporation, the global alcohol processing solutions major, is in talks with the Pune-based Praj Industries Ltd (Praj) for picking up equity stake in the latter. "We are in discussions with Praj. There is a lot of synergy in our ... More

SEBI may call for more details on ACC deal
THE Securities and Exchange Board of India may make use of some of its new powers while probing, as directed by the Securities Appellate Tribunal, whether there was any "change of control'' in the Gujarat Ambuja-ACC deal. According to a SEBI ... More

Detergent, a survival game for Super Team
TRUE, they lost the latest edition of the Santosh Trophy, but Kerala is undeniably one of the powerhouses of present-day Indian football. And Gujarat continues to be the country's central business hub despite some recent reverses, some wreaked ... More

IFCI asked to rework $100-m debt with lenders
THE Government has told the IFCI to try and re-negotiate with its lenders and investors the repayment of one of its foreign currency borrowings aggregating $100 million, due this month. According to senior Government officials, considering the ... More

Uncle Sam shows how a razor pays for 2 rocket launchers
AMONG the top 25 countries that have milked Uncle Sam of his due share of tax revenues, India ranks 19th, with $1.8 billion income shifted eastward through abnormal trade pricing. At 34 per cent taxation, this works out to $606 million revenue ... More

Core Group on sell-off to meet on Nov 14
THE Core Group of Secretaries on Disinvestment (CGD) is slated to meet on November 14, raising hopes of convening a meeting of the Cabinet Committee on Disinvestment (CCD) to take up a few non-controversial PSU cases before the winter session of ... More


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