Financial Daily from THE HINDU group of publications
Friday, November 18, 2005
Commodities (November 17)
Gold (per gram) Rs669
Silver (per gram) Rs13.45
Crude (per bbl)$56.71
Markets (November 17 at 15.30 IST)
BSE Sensex8649.52 (+53.60)
S&P CNX Nifty2603.95 (+21.20)
US Dollar (Buy/Sell)45.73/45.86



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Govt revives move to divest 15% stake in SCI — Stock to be split into two; employees to be offered shares
THE Government has decided to revive the public sector disinvestment process by diluting its stake by 15 per cent in Shipping Corporation of India (SCI), a profit-making `mini-ratna' company. At present, the Government holds 80.12 per cent ... More

SCI employees to seek shares at a discount
EMPLOYEES of Shipping Corporation will seek allotment of shares at a discounted price, when the company goes for its second round of sale of shares to public. If this is not granted by the Government, the officers will oppose the ... More

Mahindra inks deal with US co to make trucks, buses in India
MAHINDRA & Mahindra Ltd (M&M) and International Truck & Engine Corporation of the US formally signed on Thursday their earlier announced agreement for a 51:49 joint venture to manufacture trucks and buses in India. According to Mr Anand More

Now IT's the battle of headcount
AS competition in IT offshore space intensifies, foreign players including IBM, Accenture and CSC appear unwilling to be left behind in the number game and are scaling-up their India headcount on a war-footing to challenge the proven offshore ... More

RBI increases cap on NRE deposit rates
BANKS can now offer higher interest rates on repatriable Non Resident External Rupee deposits. The Reserve Bank of India hiked the interest rate cap on Non-Resident External Rupee deposits to 75 basis points over LIBOR or swap rates for the US ... More

PSB mergers will not involve lay-offs, VRS — Finance Ministry note sets out indicative norms
The Government will not direct the merger process. Its role as a stakeholder will only be of a facilitator. More

Net4 mulls foray into ILD business
WITH the Government recently announcing easier entry norms for long distance services, Internet company Net4 (formerly Net4India) said it is considering getting into the International Long Distance (ILD) business. "We are considering getting ... More

India calls for mechanism to promote IT adoption
INDIA has called for an institutional mechanism to help local development and manufacturing of information and communication technologies. The Union Minister for Communication and Information Technology, Mr Dayanidhi Maran, told the World ... More

CDMA players to invest Rs 17,000 cr more
TELECOM operators using the Code Division Multiple Access (CDMA) technology will invest an additional Rs 17,000 crore to spread their network to more than 6,000 cities and 4 lakh villages over the next two years. Reliance Infocomm, Tata ... More

Govt notifies 20 pc FDI in FM radio biz
THE Government today notified that foreign investment, including foreign direct investment, non-resident Indians (NRI) and persons of Indian origin (PIO) investments and portfolio investments will be allowed up to 20 per cent equity in FM radio ... More

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