Financial Daily
from THE HINDU group of publications

Saturday, August 04, 2001








Page One

JPC probe to cover UTI too
THE mandate of the Joint Parliamentary Committee (JPC), headed by Mr Prakash Mani Tripathi, which is looking into the stock market scam, has been expanded to include the probe into affairs of the Unit Trust of India, the Lok Sabha Speaker, Mr G.M.C. Bala yogi, has announced. This would include looking into the current US-64 fiasco.

Subramanyam used a personal mobile phone: CBI
THE Central Bureau of Investigation (CBI) today told a special court hearing the UTI scam that Mr P.S. Subramanyam, former Chairman, UTI, had ``admitted to using a personal mobile phone, the particulars of which were not disclosed by him till late yester day''.

`IDBI sought report on select deals'
THE Government on Friday said the Industrial Development Bank of India (IDBI), which nominates four persons to the UTI's board of trustees, had sought a report in May on the trust's investments in Zee Telefilms, DSQ Software, Global Telesystems and HFCL.

JPC puts `searching' supplementaries to SEBI
THE Joint Parliamentary Committee (JPC) probing the stock scam of March 2001 has asked the Securities and Exchange Board of India (SEBI) to reply to a spate of supplementaries on the questions raised on the role of the regulator earlier, as several membe rs have expressed their unhappiness at the sketchy information furnished by SEBI.

Southern belt may recover from dry spell
THE India Meteorological Department (IMD) has predicted that the prolonged dry spell affecting the standing kharif crop in several areas of South India will return to `normal' during the second half of the monsoon season.

Technology does not recognise slowdown: Barrett
``THE one thing that doesn't recognise a slowdown is technology,'' the Intel Corporation President and Chief Executive Officer, Mr Craig Barrett, told an industry audience in Bangalore today at the end of a busy day's schedule.

ITC looks at marketing riding on FMCG tie-ups
ITC Ltd, looking to leverage its in-house skills in combination with brand strengths built over the years, is planning to enter the distribution and marketing business in partnership with FMCG companies.

`Busy' steel cos yet to forge alliance
THERE has been no major headway in the formation of the proposed Indian Steel Alliance (ISA) on the lines of The Steel Alliance of the US and Canada after it was announced around the beginning of this year.

Eastern Resin stake in Gesco touches 7.27 pc
EASTERN Resin & Allied Products Ltd today informed the Bombay Stock Exchange that its equity holding in GESCO Corporation Ltd had touched 7.27 per cent.

Castrol up 12% on BSE
CASTROL India Ltd's share price jumped 12 per cent to Rs 235.50 on the Bombay Stock Exchange (BSE). The scrip opened at Rs 210.

Repurchase bids for 2.22-cr units
UNIT Trust of India, during the first three days of the month, has received 15,824 repurchase requests covering 2.22 crore units of Unit Scheme-1964 (US-64).

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