Financial Daily from THE HINDU group of publications
Friday, November 29, 2002
Markets (Nov. 28)
BL 2501090.13 (+12.68)
BSE Sensex3220.75 (+46.64)
S&P CNX Nifty1049.70 (+18.60)
Dollar (Buy/Sell)48.22/48.35
Gold Std (10 gm)5200 (-20)

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Tribunal rejects Grasim appeal
THE Securities Appellate Tribunal today confirmed the Securities and Exchange Board of India's order stopping Grasim Industries from going ahead with its open offer for 20 per cent stake in Larsen & Toubro. The option for Grasim now is to ... More

Grasim stock falls 2 pc; L&T gains
EVEN before the news of SAT dismissing Grasim's Industries' appeal for interim relief against the SEBI order putting on holding its open offer for L&T shareholders was out, the stock price of Grasim fell over two per cent on the Bombay Stock ... More

Grasim still confident
GRASIM has said it is considering its future course after detailed consideration of the today's SAT order by its legal advisors. "The main appeal on merits is still to be heard by SAT," said Grasim in a statement today. "As per the legal ... More

Money Laundering Bill passed
PARLIAMENT has approved the long-pending legislation to prevent the offence of money laundering, with the Lok Sabha giving its nod to the technical amendments suggested by the Rajya Sabha. The passage of the Prevention of Money Laundering Bill ... More

Public pie in IT cos gets bigger
IS the Indian public buying shares on bad news hoping to sell when things become better? Or is it left groping in the dark while foreign institutional investors have seen the light at the end of the tunnel? Either interpretation is possible if ... More

Ministry seeks stripping Rs 300 cr of EIL reserves
THE Petroleum Ministry has written to the Disinvestment Ministry seeking stripping of Rs 300 crore from Engineers India Ltd's reserves, prior to its proposed privatisation, according to a top Disinvestment Ministry official. EIL has reserves of ... More

A dollar famine in banks
MANY companies and exporters in the country are not able to raise dollar loans from Indian banks as the lenders have simply run out of their dollar funds. Demand for the dollar is swelling as borrowers are mopping them up through foreign ... More

HLL pays Rs 44 cr for remaining 26 pc in Modern Foods
FMCG major Hindustan Lever Ltd (HLL) today announced that it has acquired the remaining 26 per cent equity stake in Modern Food Industries (India) Ltd (MFIL) from the Government for Rs 44.07 crore. The Ministry of Food Processing Industries has ... More

Gocher to head Yahoo! India
MUMBAI: Yahoo! India, has announced that Mr Darren Gocher will take over as Country Head for India. Mr Gocher will replace Mr Deepak Chandnani who will be relieved on December 14. Mr Neville Taraporewala, who heads the media business is is ... More

M.L. Narula to take over as MD of ACC
ACC today said that Mr M.L. Narula, Director and Chief Operating Officer (COO), would take over as the company's Managing Director from December 1. Mr Narula replaces Mr T.M.M. Nambiar, who retires on December 1, the company said in a release. ... More


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