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Thursday, March 31, 2005

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Saudi Aramco may pick stake in HPCL's Vizag refinery — In return, oil PSU to take equity in Yanbu project
THE Saudi Arabian oil company, Saudi Aramco, is likely to pick up stake in Hindustan Petroleum Corporation Ltd's (HPCL) Visakhapatanam refinery as part of a cross investment plan where HPCL will get equity in Aramco's upcoming refinery at Yanbu, ... More

Steel prices to go up by 7-8 pc from tomorrow
PRIMARY steel manufacturers are all set to increase prices of all grades of steel products from April 1. Though the exact quantum of increase would be finalised by some of them only on Thursday, indications are that it would be in the range of ... More

M&M divests stake, exits Ford India
THE longstanding equity relationship between Mahindra & Mahindra Ltd (M&M) and Ford India Pvt Ltd (FIL), that was commenced to help Ford's entry into the Indian market through the erstwhile Mahindra-Ford joint venture, has formally ... More

Return of capital — PNB not to bear additional tax on reduction of share premium account
IN what would set a precedent for similar return of capital by other public sector banks, the Government has assured the Punjab National Bank (PNB) that there would be no additional tax burden on the bank on account of reduction from the share ... More

Start-ups to fore, form 20% of new Nasscom members in fiscal 2004-05
IF 2001 saw IT entrepreneurs burning their fingers in technology business and shutting shop, last year or so has seen their resurgence. About 20 per cent of companies that enlisted as Nasscom members during 2004-05 are entrepreneur-led IT and ... More

Cell operators complain to TRAI on `predatory' pricing by Reliance
CELLULAR operators have lodged a complaint with the telecom regulator against the unlimited talktime tariffs offered by Reliance Infocomm on grounds that it was predatory in nature. Cellular operators have told the Telecom Regulatory Authority ... More

IDBI Homefinance hikes PLR by 25 bps
IDBI Homefinance Ltd, a wholly owned subsidiary of IDBI Ltd, has increased its PLR by 25 basis point, with effect from March 31. The PLR is the benchmark for pricing of its variable interest rate loans. According to a release, the revised ... More

Calcutta HC declines to grant stay on VAT implementation
A DIVISION Bench of the Calcutta High Court comprising Mr Justice V.S. Sirpurkar, Chief Justice and Mr Justice Ashok Kumar Ganguly today refused to grant any order of stay against VAT implementation from April 1. The Bench directed the parties to ... More

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