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Foreign banks may be allowed controlling stake in pvt banks — Chidambaram moots 10 pc acquisition a year
THE Government is open to allowing acquisition of shares — up to 10 per cent a year — by foreign banks in domestic private banks and taking controlling stake in three-four years, the Union Finance Minister, Mr P. Chidambaram, said ... More

`SEBI report on May 17 market crash ready'
THE Finance Minister, Mr P. Chidambaram, said the Securities and Exchange Board of India's report on the stock market crash on May 17 was ready and this would soon be published. ``SEBI has nearly finalised its report, and it will take action ... More

Proposals invited for scheme to replace DEPB
THE Government has taken the first step towards finding an appropriate replacement for the duty entitlement passbook (DEPB) scheme, which currently serves 52 per cent of the country's exports value-wise. The merchandise exports in rupee terms for ... More

Tata Motors Q2 PAT rises 49.6 pc
TATA Motors Ltd on Friday reported a 49.6 per cent rise in profit after tax for the quarter ended September 30, 2004, to Rs 309.21 crore as against the previous corresponding Rs 206.68 crore. The operating margin at 12.5 per cent (13.8 per ... More

Tata Steel forges ahead with 130 pc rise in Q2 profit
TATA Steel continued its robust performance, reporting a 130 per cent increase in net profit at Rs 929.59 crore for the second quarter of 2004-05 as against Rs 403.10 crore in the year-ago period. A richer product mix, along with improved ... More

SAIL Q2 net zooms to Rs 1,513 cr
SAIL has reported a net profit of Rs 1,513.15 crore on a total income of Rs 6,789.42 crore during the second quarter of the current fiscal. The steel major had reported a net profit of Rs 505.16 crore on a total income of Rs 5,116.25 crore in the ... More

50 pc of board must comprise non-executive directors: SEBI
THE Securities and Exchange Board of India has now specified that not less than 50 per cent of the board of directors should consist of non-executive directors. If the chairman of the board is a non-executive director, at least one-third of the ... More

Inflation unchanged despite higher fuel prices
THE annual wholesale price index-based inflation rate remained unchanged at 7.1 per cent for the week ended October 16, despite a rise in fuel prices. The year-on-year inflation rate stayed constant during the latest reported week, after ... More

Techs fall on profit booking
CLOSE on the heels of the announcement of a rise in interest rates in China, the Sensex snapped its three-day rally to end lower at 5672.27 points, a drop of 43.35 points. On the National Stock Exchange, the S&P CNX Nifty declined 13.20 points to More




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