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Saturday, July 02, 2005

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IOC set to post losses over subsidised LPG, kerosene — Upstream oil cos urged to share greater subsidy burden
BARRING some drastic change in the revenue-sharing arrangement, which could hit ONGC and GAIL hard, the Rs 1,50,000-crore Indian Oil Corporation is going to register losses in the first quarter of the current fiscal, for the first time in its ... More

Swedish Match divests holding in Wimco to ITC subsidiary — To make open offer for 20 pc equity
THE Stockholm-based Swedish Match AB Group, through Swedish Match Singapore Pte Ltd, and the wholly owned subsidiaries, Haravon Investments Pte Ltd and Seed Trading Pte Ltd, has divested its entire holding of 74 per cent in Wimco Ltd to Russell ... More

GAIL plans seven-fold rise in petrochem business — Mulls acquisition or equity participation
GAIL (India) Ltd is looking at various options, including acquisition or equity participation in an existing petrochemical plant in India or abroad, to capitalise on the growing demand for petrochemicals in the country (12 per cent) as well as ... More

Sensex hits record high of 7,210 points
CONTINUED buying by foreign institutional investors saw the Sensex zoom to another record high on Friday. The 30-stock benchmark index touched its all-time high of 7,228.57, before ending the day at 7,210.77. On a day of choppy yet range-bound ... More

Jubilant buys 64 pc stake in US drug co Trinity Labs
JUBILANT Organosys Ltd has acquired 64 per cent equity in the US-based generic pharmaceuticals company Trinity Laboratories Inc and its wholly owned subsidiary Trigen Laboratories Inc. As per the agreement signed, Jubilant will acquire the ... More

Small foreign buyers make it big for textile exporters
FOLLOWING the dismantling of the textile quota regime, the smaller textile retailers from the developed countries are emerging as the main customers for domestic textile and garment exporters. Even as big textile retailing giants have ... More

Inflation falls to 4.1 pc on lower textile prices
THE annual wholesale price index-based inflation dipped to 4.1 per cent during the week ended June 18, from the previous week's 4.33 per cent. The 0.23-per cent dip in growth was mainly on account of last year's high base and lower textile ... More

Steel majors cut prices on rising inventories
CLOSE on the heels of Steel Authority of India Ltd (SAIL) slashing product prices, steel majors Tata Steel, Essar Steel and Ispat Industries on Friday announced a cut in their prices by around seven to eight per cent on account of rising ... More

India signs capital gains tax pact with Singapore
CAPITAL gains arising to a Singapore resident on sale of shares of Indian companies would not be taxable in India. This is because India has agreed to extend Mauritius-like `capital gains' tax concession to Singapore through a protocol. ... More

Second `low' evolving over Bay of Bengal
THE National Centre for Medium Range Weather Forecasting (NCMRWF) has sensed `favourable' conditions in the Bay of Bengal indicating the formation of a possible low-pressure area, the second of the season, within the next two to three days. ... More

A wild one for the vile!
SUCHARITA works late nights at a software firm on Chennai's Old Mahabalipuram Road but now feels safer getting back home to distant Porur, thanks to Wild to Wild, which nestles in her bag. A compact aerosol canister, which contains a mix of red ... More

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