Financial Daily from THE HINDU group of publications
Thursday, January 12, 2006
Commodities (Jan 11 - at close)
Gold (per gram) Rs730
Silver (per gram) Rs14.30
Brent crude (per bbl) Rs2752
Markets (January 10)
BSE Sensex9445.30(-138.15)
S&P CNX Nifty2870.80 (-39.30)
US Dollar (Buy/Sell)44.25/44.38



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Infosys Q3 net up 31 pc — Volatile rupee hits profitability
A VOLATILE rupee impacted the profitability of Infosys Technologies for the third quarter ended December 2005, which fell marginally short of analysts' expectations. Sluggish volume growth of a little over 6 per cent against the double-digit ... More

Infosys to review hedging policy — `Rupee volatility very high this quarter, we have to be slightly more active'
STUNG by the impact of the rupee volatility, Infosys may review its hedging policy. The company has hedged $300 million by taking range-bound options and has marked them to the market, said Mr T.V. Mohandas Pai, Chief Financial Officer. "We ... More

Infosys headcount to hit 50,000 soon
INFOSYS Technologies, which expects to touch the 50,000 mark soon in terms of employee headcount, has made 6,500 campus offers for 2006. These graduates are expected to join sometime in the second or third quarter of fiscal 2007. Speaking to ... More

Chidambaram promises to simplify fringe benefit tax — `Non-navratna disinvestment on track'
THE forthcoming Budget will provide relief to the corporate sector on compliance with the fringe benefit tax (FBT) provisions. The Finance Minister, Mr P. Chidambaram, on Wednesday said that `some simplification' could be expected in the area of ... More

Electricity Tribunal allows PowerGrid to execute M.P. project at higher cost — Sets aside CERC order on `cost ceiling'
The Tribunal ruled that the dual role of PGCIL — as a commercial undertaking and its statutory role as Central Transmission Utility — required to be treated as two separate responsibilities. More

Power problem: Wipro thinks `captive'
THE Bangalore-based Wipro Technologies is exploring the possibility of setting up its own captive power plant. "We are thinking about it, we are exploring the various options available," said a company official. He added that the requirement ... More

Auto show set for big launch today — Rs 440-cr business deals likely to be accomplished
THE Eighth Auto Expo, which kicks off tomorrow, promises much excitement for auto buffs in the form of new launches and big announcements by domestic and global automobile giants. The event, jointly organised by the Society of Indian ... More

Bids for MUL stake: Banks, FIs take cautious approach
THE deadline for putting in bids by banks and financial institutions for an 8 per cent stake in Maruti Udyog Ltd (MUL) being divested by the Government ended on Wednesday, with most institutional investors understood to have taken a cautious ... More

Sahara, Jet in talks for `strategic alliance'
AIR Sahara and Jet Airways are in talks to form a "strategic alliance" although no formal decision has yet been taken on moving the process forward, according to the Executive Vice-President of Air Sahara, Mr Alok Sharma. "We have not signed ... More

Scramjet: ISRO makes major breakthrough
NATIONAL space agency ISRO said it has achieved an early step in the race for low-cost, reusable space vehicle technology with a brief demonstration of its scramjet (supersonic combustion ramjet). "As such technologies are in a very nascent ... More

Fresh system to lift mercury in North
A FRESH western disturbance is expected to approach Jammu & Kashmir and adjoining parts of northwest India by Sunday, which promises to lift mercury levels further up in these regions reeling under cold wave conditions. During the 24 hours ... More

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