Financial Daily from THE HINDU group of publications
Wednesday, March 26, 2003
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IPO panel move to check fly-by-night operators — Net tangible assets criterion preferred
MOVING away from the profitability criteria, a Securities and Exchange Board of India (SEBI) committee has recommended net tangible assets (NTA) as a key eligibility criterion for companies planning to come out with an initial public offer ... More

Rs 1,000-cr bonanza awaits oil cos
THE Government has decided to pay an additional Rs 1,000 crore as subsidy to oil companies to partially compensate them for losses on sale of LPG and kerosene at subsidised rates during 2002-03. This will marginally reduce the losses incurred ... More

RPL complains of Rs 250-cr annual loss
RELIANCE Petroleum Ltd (RPL) has written to the Union Government that it is losing around Rs 250 crore annually after entering into a new contract with IOC, HPCL and BPCL last year for the sale of around 12.5 million tonnes of ... More

Atlas Copco among 29 FDI plans cleared
THE Government today cleared 29 proposals involving foreign direct investment (FDI) worth Rs 262 crore. The Minister of Finance and Company Affairs, Mr Jaswant Singh, has approved the proposals recommended by the Foreign Investment Promotion ... More

Kuwait Air to suspend flights to Delhi, Chennai
KUWAIT Airways has decided to suspend flights to Delhi and Chennai for a week starting March 29 while operating normal services to Mumbai, Thiruvananthapuram and Kochi. Meanwhile, the airline has also decided to levy an insurance surcharge of ... More

Air India travel to cost more
FLIGHTS on Air India are set to become more expensive from next month. The airline's proposal for a 5 per cent hike in air fares has been accepted by the Directorate-General of Civil Aviation (DGCA) and is to come into effect from April 1. ... More

Tata Tea gets Rs 25.35-cr dividend from UK unit
TATAS' 271-million acquisition of the Tetley Group Ltd, UK, has started paying off with the involved special purpose vehicle (SPV), Tata Tea (GB) Ltd, announcing a maiden interim dividend of more than 40 per cent of Tata Tea Ltd's (TTL) 2001-02 ... More


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