Financial Daily from THE HINDU group of publications
Wednesday, June 29, 2005
Markets (July 25)
BL 2502325.28 (+12.27)
BSE Sensex7505.60(+82.35)
S&P CNX Nifty2291.75 (+26.15)
US Dollar (Buy/Sell)43.51/43.63
Gold Std (10 gm)6085 (+35)

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SEBI panel says no to finger printing — Market players will have to provide more information
THE SEBI-appointed MAPIN committee has recommended against finger printing of market participants. The report of the committee, chaired by Mr Jagdish Capoor, former Deputy Governor, Reserve Bank of India, released on Tuesday, suggested a new ... More

Reliance to convert Infocomm preference shares at Rs 32
THE board of Reliance Industries Ltd (RIL), which met on Tuesday, decided to convert 162 crore preference shares of Reliance Infocomm Ltd - acquired at Rs 8,100 crore - into fully paid-up equity shares of the face value of Re 1 each at a ... More

Videocon buys Thomson's global picture-tube biz for Rs 1,260 cr
THE Videocon group today announced that it would be acquiring Thomson SA's global colour picture-tube manufacturing business, including units in China, Poland, and Mexico for 240 million euros (approximately Rs 1,260 crore). The purchase ... More

Is Electrolux next on the takeover list?
CLOSE on the heels of acquiring the colour picture-tube business of Thomson, the Videocon group seems to have more acquisitions in the pipeline. The group is in negotiations to acquire the troubled Indian subsidiary of Swedish white goods ... More

HC upholds Kurien's decision on IRMA director removal
THE Gujarat High Court has upheld the decision of Dr V. Kurien, Chairman of the Institute of Rural Management, Anand (IRMA), to remove Prof K. Pratap Reddy as its Director. The Division Bench that passed the judgment on Tuesday has quashed an ... More

Rakesh Mohan to move to RBI
THE Secretary, Department of Economic Affairs (DEA) in the Union Finance Ministry, Mr Rakesh Mohan, is being shifted to the Reserve Bank of India as Deputy Governor. He is likely to be relieved from his current post by the end of this month. Mr ... More

Steel, oil stocks key losers in plunging market
AFTER a rather tepid gain on Monday, the markets nose-dived on Tuesday on the back of profit booking. The decline was witnessed across the board, though steel and oil stocks were prominent losers. Click here for ... More

Realty developers see no impact of home loan rates on buying decisions
Marginally costlier home loans may have come as a slight disappointment to aspiring home owners in the country, but the real estate industry is not losing any sleep over it. Leading real estate developers feel that the recent hike in home loan ... More

Oriental Bank lowers home loan rates
IN a sharp contrast to the apprehensions on increase in housing loan interest rates, the Oriental Bank of Commerce (OBC) has decided to reduce housing finance rates effective July 1. The move was aimed at making its housing loan schemes more ... More

GSPC gas may be ready for commercial usage by Dec '07
THE Chief Minister of Gujarat, Mr Narendra Modi, said on Tuesday that 85 per cent of the estimated 20 trillion cubic feet (TCF) gas find by the Gujarat State Petroleum Corporation Ltd (GSPC) in the Krishna-Godavari (KG) Basin is commercially ... More

Eveready drops plan for battery unit in China
EVEREADY Industries India Ltd, the flagship company of the BM Khaitan Group, has put its earlier plan of entering the Chinese battery manufacturing sector on the backburner. Talking to reporters after attending the 70th annual general meeting ... More

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