Financial Daily
from THE HINDU group of publications

Thursday, July 26, 2001








Page One

Vital file on UTI deal with Reliance missing
IN a new twist to the controversial private placement of equity by the Unit Trust of India in Reliance Industries Ltd (RIL), aggregating Rs 775 crore, the file relating to this case has been reported missing in the Government.

SBI first quarter net up at Rs 580 cr
State Bank of India has registered an increase of 25.58 per cent in net profit to Rs 579.78 crore for the quarter ended June 30, 2001 as compared to Rs 461.7 crore in the corresponding period in the previous year.

2:5 swap for Aban Loyd Hitech Drilling merger
THE Chennai-based Aban Loyd Chiles Offshore Ltd is to merge Hitech Drilling Services India Ltd in which it holds an 86.5 per cent stake with itself.

Cyberspace Infosys promoter remanded to CBI custody
A CBI Special court today remanded the Cyberspace Infosys Ltd promoter, Mr Arvind Johari, to CBI custody till August 2. Mr Johari has been arrested in the ``UTI case'' involving the former Chairman, Mr P.S. Subramanyam, and Executive Directors, Mr M.M. K apur and Mr S.K. Basu.

5 executives sacked, says Tata Finance
THE Tata group, investigating into the mismanagement of funds at Tata Finance Ltd, today indicated that there is a "prima facie case of criminal breach of trust, falsification of accounts and cheating" against those involved.

 Tata Coffee buys 34.3% in Barista for Rs 26 cr
THE less-than-a-year-old Barista Coffee Company Ltd, currently operating a chain of 38 espresso bars, merited an enterprise value of ``a little under Rs 100 crore'' in the deal involving Tata Coffee Ltd's (TCL) acquisition of 34.3 per cent equity in the company, Mr Rana Kapoor, Managing Director, Rabo India Finance Pvt Ltd, said here today.

Modi Rubber may defer board meet again
THE crucial board meeting of Modi Rubber Ltd (MRL) convened for July 28 is set to be deferred once again, following the significant changes in the course of events since July 16 and its impact on the outcome of the open offer made by the Modi Brothers' - - Dr B.K. Modi and Mr V.K. Modi.

Rajesh Goenka firms acquire 4.6 pc stake in South Indian Bank
KOLKATA-based AKG Finvest Ltd and Uno Metals Ltd, both unlisted companies, have jointly acquired 16.5 lakh shares or 4.64 per cent equity stake in South Indian Bank (SIB), a Trissur-headquartered private bank.

Philips net loss up at Rs 8.73 cr
PHILIPS India Ltd has recorded a net loss of Rs 8.73 crore on an operational income of Rs 360.96 crore during the quarter ended July 1, 2001. During the quarter ended July 2, 2000, the company had recorded a net loss of Rs 3.49 crore (profit before tax o f Rs 7.39 crore) on an operational income of Rs 364.05 crore.

The dragon tempts the Indian Eve
LIPSTICK for Rs 40, eye pencil for Rs 20, a 12-shade eyeshadow set for Rs 130 and much more! All snazzily packaged. No, this is not a roadside shop selling sub-standard stuff. This is the dragon spitting more fire -- this time targeted directly at the fa irer sex.

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