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Saturday, March 05, 2005

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Sensex gains 64 pts at 6,850 — Investors find shine of bourses hard to resist
Bourses continued their post-Budget exuberance taking the indices to un-chartered territories. With too much money chasing too few good stocks, the market seems to be in no mood to look back. Taking a cue from this, retail investors also are ... More

Chidambaram kudos to India Inc on Sensex gains
THE Finance Minister, Mr P. Chidambaram, has congratulated India Inc for having made a gain of Rs 16,857 crore in the stock market on Friday. The Sensex touched an all-time intra-day high of 6,864.62 points before closing at 6,849 ... More

Industry can help in framing fringe benefit tax rules: Chidambaram
THE special purpose vehicle (SPV) to be set up to finance infrastructure projects in specified sectors is expected to be "up and running" in next 4-6 weeks, said the Finance Minister, Mr P. Chidambaram. Addressing an interactive post-Budget ... More

Rahul Bajaj to quit as Bajaj Auto MD — Sons Rajiv, Sanjiv to take control
THE mantle of Bajaj Auto Ltd is to now fall on the shoulders of the fourth generation. The Chairman and Managing Director, Mr Rahul Bajaj, 66, on Friday said that he would like to step down as managing director of the company and make way for ... More

Tribunal dismisses Reliance Info petition against DoT penalty
THE Telecom Dispute Settlement Appellate Tribunal on Friday said that Reliance Infocomm has `clearly and deliberately' breached licence norms and put national security in jeopardy by routing international long distance calls as local ones. ... More

Inflation dips on cheaper manufactured items
THE annual wholesale price index-based inflation fell to a nine-month low of 4.83 per cent during the week ended February 19, from 5.01 per cent registered during the previous week. The fall in the year-on-year inflation was largely on account ... More

UCBs with Rs 50 cr deposits to be on a par with commercial banks
THE Reserve Bank of India proposes to treat urban co-operative banks with deposit of over Rs 50 crore on a par with commercial banks for the purpose of regulation. However, this would be subject to the existing relaxations that are in force. ... More

Scandent Solutions set to list next week
SCANDENT Solutions Corporation is all set to list on four stock exchanges of Mumbai, Ahmedabad, Chennai and the National Stock Exchange. The company management has sewn up plans for organic growth that would see it scaling up its manpower from ... More

Tourism Minister moots cess on Indians travelling abroad
THE Minister for Tourism, Ms Renuka Chowdhury, on Friday suggested levying a cess of Rs 1,000 on every Indian travelling abroad. Speaking at the State Tourism Ministers conference, the Minister said that monies collected through the cess could ... More

Selling India story: The Singapore edition
THE net FII inflows into the country in the first two months of the year have crossed $2 billion and, at this rate, simple arithmetic suggests that it should reach $12 billion by the year-end. The net FII inflow mark-up for 2005 is expected to ... More

What is branded jewellery? Finance Ministry clarifies
THE Finance Ministry on Friday clarified that an excise duty of 2 per cent would be levied on branded articles of jewellery only if the brand name or the trade name, as defined, was indelibly affixed or embossed on the article of jewellery ... More

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