Financial Daily from THE HINDU group of publications
Sunday, February 06, 2005

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Larger firms post sizeable growth in profits — Results reflect fresh capacities going on stream
THE aggregate profits of 461 companies that are part of S&P CNX 500 index rose 21 per cent in the quarter ended December 2004. This is significantly lower than the 44-per-cent growth in the quarter ended December 2003. The lower growth rate is . More

Education cess not applicable for imports under advance licences
THE 2-per-cent education cess imposed in the 2004-05 Budget would not be applicable for imports cleared against advance licences, the Finance Ministry has clarified. The revenue department has, however, held that the cess would be payable on ... More

Air Sahara's Hyderabad hub to link global destinations
MAKING `Hub Hyderabad' the fulcrum, Air Sahara plans to connect several international destinations such as Singapore, Kuala Lumpur and Bangkok, besides weaving a web of domestic destinations. Addressing newspersons after the launch of the hub ... More

Psychotropic drugs — Finance Ministry asked to go slow on raids
TO rescue millions of patients suffering due to the shortage of psychotropic drugs, the Health Ministry has written to the Finance Ministry, asking it to go slow on nabbing pharmacists stocking these life-saving medicines. Highly placed ... More

Reports on succession plan out of context, says Premji
THE Chairman of Wipro, Mr Azim Premji, said reports that he had drawn up a succession plan and had disclosed its contents to the board of directors were out of context. "It was out-of-context reporting... We are talking about a human resource ... More

Bank credit up by Rs 3,708 cr
GROSS bank credit in the system has increased by Rs 3,708 crore to touch Rs 10,40,840 crore for the fortnight ended January 21,2005, as per the latest RBI statistics. This is inclusive of food credit, which declined by Rs 3,630 crore and ... More

Forex reserves rise $291 m
THE country's forex kitty grew by $291 million to touch $129.720 billion for the week-ended January 28, as against $129.429 billion in the previous week, as per the latest RBI statistics. The rise in reserves can be attributed to a ... More

Pick a winner stock market contest
AMONG the entries received for the contest held during January 2005, the stock of G M Breweries posted the maximum gain of 55.36 per cent. Its share price rose from Rs 14 to Rs 21.75. Out of 847 entries received, five are winners. The winners ... More

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