|
Sebi bars Sheth and his
companies from market
Mumbai: The Securities and
Exchange Board of India (Sebi) has barred the stockbroker Ketan Sheth and his
companies from the securities market until 30 May. A Sebi release said that in
view of the emergent situation in relation to the irregularities in the
transactions in government securities by Home Trade and related entities, Sebi,
in exercise of powers under section 4(3) of the Sebi Act read with sections 11
and 11B of the Act, had advised that Sheth and six of his companies shall not
buy, sell or deal in the securities market.
Back to News Review
index page
Rs 1,033-crore
urea policy in place
New Delhi: The
government has approved the policy parameters and norms for determination of
final retention prices payable to individual urea manufacturing units for the
seventh and eighth pricing periods, extending from 1 July 1997 to 31 March 2000
and 1 April 2000 to 31 March 2003, respectively.
The implementation of the policy proposals, approved at the meeting of the
cabinet committee on economic affairs here, will result in the industry forking
out a net sum of Rs 1,033 crore to the government on account of drawal of
excess subsidy. The net figure includes the impact of recoveries already
made from individual units, the fertilisers secretary Nripendra Mishra said.
Back to News Review
index page
HC order on
CESC tariff hike evokes mixed reaction
Kolkata: There were mixed reactions from city-based industry chambers to
the Calcutta High Courts verdict allowing the power utility CESC Ltd to
increase tariff by 16.5 per cent.
Back to News Review
index page
Idea
Cellular raises Rs 1,790-crore loan
Mumbai: IDBI had been able to arrange Rs 1,790 crore as syndicated loan
for the mobile telephony services company, Idea Cellular. This includes a loan
of Rs 400 crore from IDBI itself. The other major lenders are IDFC (Rs 250
crore) and LIC (Rs 250 crore).
Back to News Review
index page
Canara
Bank IPO to hit market by September
Bangalore: Canara
Bank is set to hit the market with its initial public offer by September 2002
with an expected issue size of about Rs 100 crore that would dilute government
holding in the bank by 15 per cent.
Back to News Review
index page
GTB
ties up with LIC for Net payment
Mumbai: GTB has tied
up LIC to enable customers to make the insurance premium payment over the
Internet.
Back to News Review
index page
Industries
body worried over Haryana entry tax
New Delhi:
The Federation of Industries of India has expressed its concern over the 4-per
cent entry tax imposed by Haryana on the industrial sector in the state.
Back to News Review
index page
Oil companies
to get nod for retailing next week
New Delhi: The union ministry
of petroleum and natural gas is expected to issue authorisation for retail
marketing of petroleum products to four oil majors by early next week.
Back to News Review
index page
Citicorp
Finance to pick up 20% in STFC
Mumbai: Shriram
Transport Finance Company Ltd plans to make a preferential allotment of
88,58,493 shares of Rs 10 each to Citicorp Finance India that will give the
latter an equity stake of 20 per cent in the company.
Back to News Review
index page
|
