Financial Daily from THE HINDU group of publications
Tuesday, January 28, 2003
Markets (Jan. 27)
BL 2501089.13 (-20.58)
BSE Sensex3247.71 (-40.15)
S&P CNX Nifty1037.65 (-18.40)
Dollar (Buy/Sell)47.86/47.99
Gold Std(10gm)5960 (+90)

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Govt to prepay World Bank, ADB loan — Bulging forex reserves facilitate clearing of $2.8 billion
IN a bid to use up the Reserve Bank of India's (RBI) bulging forex reserves and also mop up excess liquidity in the market, the Centre has decided to prematurely repay its loans from the World Bank and the Asian Development Bank (ADB) aggregating ... More

Centre to shed balance equity in VSNL
EXACTLY a year after the successful disinvestment of international long-distance major Videsh Sanchar Nigam Ltd (VSNL) in favour of the Tata group, the Government has decided to shed its remaining stake of 26 per cent in the company. According ... More

SABMiller to buy Deccan Breweries for Rs 8.5 crore
SABMiller has struck a deal with the Balaji group to buy its brewing entity, Deccan Breweries, in Andhra Pradesh for Rs 8.5 crore. With this, the world's second largest brewer is gaining a crucial foothold in the most buoyant beer market in ... More

Gold prices at new high
AS widely expected, gold breached the $370-an ounce mark today amid fears of US military action against Iraq and suspense over report of UN weapons inspectors. Last Friday, it closed at $366/oz (London PM fix). The yellow metal is truly ... More

Mittals hiking stake in Bharti TeleVentures
THE promoters of the Bharti TeleVentures are in the process of pumping in around Rs 25 crore ($5 million) to increase their stake in the company by picking up equity shares from the secondary market through the groups' foreign outfit, ... More

Veto powers for Govt in HPCL post-sale
THE Union Government will incorporate special clauses in the shareholders' agreement to retain veto powers over key decisions even after the oil refining company HPCL is privatised through strategic sale. As per a decision taken by the Cabinet ... More

Travel to Europe... shop for $200 free
WOULD you like to travel to Europe and get $200 free as shopping money to purchase Swiss Maestrani chocolates, Swiss Gubelin watches, French perfumes or even the German Drubba wine glasses and cuckoo clocks? No, there's no bagful of tricks ... More

`Telecom tariff war not healthy'
THE tariff war happening in the telecom industry is not healthy for the telecom industry, said Mr Ratan Tata, Non-Executive Chairman, Tata group, on the sidelines of a press conference here today. Mr Tata suggested that quality of service and ... More

Tata Tea net down on lower revenues
MARGINALLY lower revenue and a profit from sale of shares last year with none to show this time around brought down Tata Tea Ltd's (TTL) net profit by 18 per cent to Rs 16.97 crore in the third quarter of 2002-03 (Q3) as compared to Rs 20.67 ... More


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