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Friday, March 04, 2005
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Crude prices fall
SINGAPORE, MARCH 3.Crude futures fell below $ 53 a barrel today amid traders' worries that refinery outages in the United States would strain supplies. — ...

Sensex zooms 98 points on FII buying
MUMBAI, MARCH 3.Ignoring high global oil prices, the stock market indices, the BSE Sensex and the NSE Nifty, ended today at their new closing highs on strong foreign fund inflows on the back of the "growth and equity'' oriented budget. The ...

Protest against excise levy on branded jewellery
The imposition of 2 per cent excise levy will demotivate the jewellers from making fresh investments for improving purity, says trade.

Trade shut-down in Tamil Nadu
The process of affixing or embossing the brand or trade name on the article of jewellery shall amount to manufacture' — Explanatory Memorandum to the Finance Bill, 2005.

RBI tightens provisioning norms for co-operative banks
CHENNAI, MARCH 3.The Reserve Bank of India has prescribed additional provisioning requirements for non-performing assets (NPAs) of state and district co-operative banks even as it has sought to introduce a graded higher provisioning on the ...

Other Stories


PNB fixes price band
NEW DELHI, MARCH 3. Punjab National Bank today announced a price band of Rs. 350-390 per share of the face value of Rs. 10 each for its second public offer, opening on March 7, the bank's Executive Director, K. C. Chakrabarty, said in a ...

IOB to consider GDR issue
NEW DELHI, MARCH 3. Indian Overseas Bank today said it would consider raising of capital through the issue of global depository receipts (GDRs). The board of directors would meet on March 10 to discuss this issue of GDRs, which would be listed on ...

Offer for sale
MUMBAI, MARCH 3. Jaiprakash Associates has decided to offer for sale 18 crore shares constituting 36.66 per cent of the total equity capital held by it in Jaiprakash Hydro-Power (JHPL), a wholly-owned subsidiary of the company, through the ...

CII launches B2B conference
CHENNAI: Beauwell India 2005 will feature a 2-day conference and 4-day exposition, which will showcase and address issues and opportunities to realise India's growth potential in the fast growing beauty, spa, beauty services, cosmetics and ...

IDBI acquires stake in Oil Country
NEW DELHI, MARCH 3.The Industrial Development Bank of India today acquired 11.29 per cent stake in Oil Country Tubular through preferential allotment. Oil Country Tubular informed the National Stock Exchange that IDBI has acquired 50 lakh shares ...

Monthly dividend from Chola MIP
CHENNAI: Chola Mutual Fund has declared 0.61 per cent for individual investors and HUF and 0.57 per cent dividend for investors other than individuals and HUF in the monthly dividend option for the period ended February 2005. The objective of ...

Crisil rating for DFL's programme
CHENNAI: Crisil has assigned a credit opinion equivalent to the highest credit rating of AAA (so) to the first securitisation programme backed by three-wheeler hire purchase receivables originated by Dhandapani Finance Limited (DFL). According to ...

Escorts bags order from Ghana
NEW DELHI: Escorts Ltd. has bagged a $8.56 million export order from Ghana for supply of tractors. The contract for supply of 400 Escort Farmtrac range of tractors and other farm implements valued at $8.56 million will be executed through ...

Tally launches VAT compliant solutions
BANGALORE: Tally Solutions has launched its VAT compliant business accounting solution, Tally 7.2, aimed at over eight million establishments in the small and medium enterprise segment. Talking to mediapersons here the Managing Director of the ...

Natco launches anti-migrane drug
HYDERABAD: The Hyderabad-based Natco Pharma announced the launch of its anti-migraine drug based on Rizatriptan in five and 10 mg tablets. The tablets will be sold under the brand name Ritza, according to a release. The company has priced the ...

Microsoft gets distribution rights
NEW DELHI: Microsoft Corporation has announced the obtaining of exclusive distribution rights from Navision India for Microsoft's two business management offerings, Microsoft Business Solutions, Axapta and Navision. The two business applications ...

Balanced budget: ACMA
NEW DELHI: The Automotive Component Manufacturers Association of India (ACMA) has called the Union Budget 2005-06 a balanced and progressive one. Its president, Deep Kapuria, has said that the focus was on infrastructure development, especially ...

Luminous targets 60 p.c. growth
NEW DELHI: Luminous Electronics Ltd., the Rs. 170 crore company manufacturing and marketing domestic appliances such as inverters, batteries and UPS, is looking to expand its sales turnover by 60 per cent in the current year. ``We expect our ...

New Mangalore Port handles record traffic
MANGALORE: The New Mangalore Port Trust here has handled a record traffic of 30.67 million tonnes in 2004-05 (up to February) against 23.59 million tonnes in the corresponding period last year. The growth rate has been 29.6 per cent over the last ...

Cosmetics and wellness expo
CHENNAI: Beauwell India 2005 will feature a 2-day conference and 4-day exposition, which will showcase and address issues and opportunities to realise India's growth potential in the fast growing beauty, spa, beauty services, cosmetics and ...

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