The Hindu Business Line : Tuesday, July 06, 2004

SEBI nod for Fidelity's MF business
FIDELITY, one of the world's largest providers of financial services, has received the in-principle approval from the Securities and Exchange Board of India to set up its mutual fund business in India. The date of launch has been recast ... More

Laloo urges Opposition not to boycott Rly budget
WITH the Opposition set to boycott the Railway Budget presentation on Tuesday, the Railways Minister, Mr Laloo Prasad Yadav, has said he hopes that "better sense would prevail". "I will present my Budget to the people of this nation. Whether ... More

Pvt bank stocks down on RBI draft guidelines
THE stocks of most of the private sector banks closed lower on Monday after RBI draft guidelines on ownership of these banks were issued last week. Brokers said these guidelines were unexpected and looks unrealistic. "If these guidelines are ... More

ICICI Bank awaits RBI norms to decide on stake cut
ICICI Bank will take a view on reducing its stake in Federal Bank and South Indian Bank once the RBI's guidelines on ownership of private banks are finalised. "If the guidelines are adopted and if the RBI asks us to bring our holding below 5 ... More

Tata Tele surrenders excess spectrum
AT a time when mobile operators are clamouring for more radio frequency, Tata Teleservices has given up 2 Mhz of spectrum in Maharashtra circle. The move comes after the Department of Telecom had asked the company to surrender the spectrum, ... More

Jet seeks to rope in Changi in Delhi, Mumbai airport revamp
THE list of suitors interested in participating in the modernisation and restructuring of Delhi and Mumbai airports is all set to expand. The country's leading private sector airline, Jet Airways, is scheduled to meet officials of Singapore's ... More

10 IL&FS MF schemes transferred to UTI MF
UTI Mutual Fund on Monday announced that 10 schemes of IL&FS Mutual Fund with assets under management (AUM) of over Rs 1,800 crore have been transferred to UTI Mutual Fund with effect from July 5. This is consequent to UTI MF's acquisition ... More

Essar Oil to raise $207 m via FCCB
ESSAR Oil Ltd has decided to raise $207 million through the issue of Foreign Currency Convertible Bonds (FCCB), the company has informed stock exchanges on Monday. The funds will be utilised for completing its 10.5-million-tonne refinery under ... More

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