NATIONAL BSE: Market down by 45 points on profit booking The market fell sharply after mid-session and ended down by another 45 points due to fairly heavy sell-off by domestic financial institutions as well as operators coupled with a sudden slowdown in FII activity.
The BSE Benchmark 30-share Index fluctuated irregularly during the first half of the session, rising to the intra-day high of 5799.92. However, selling pressure pulled the Sensex down to below 5700-level at 5699.32 before ending the day at 5713.75 as against yesterday's (Oct 5, 2004) close of 5758.67, a net fall of 44.92 points or 0.78 per cent.
PM's reward to investment: A rationalised tax system Prime Minister Manmohan Singh today (Oct 6, 2004) assured the industry captains that his Government would rationalise tax structure to reward enterprise and investment.
Biggest concerns are viruses & Internet worms: Survey Professional services firm Ernst and Young (E&Y) today said a survey among 69 Indian companies showed that the biggest security concern they faced were major viruses and Internet worms.
Trianz Consulting acquires Bangalore firm Eximsoft Privately-held US IT consulting firm Trianz Consulting today (Oct 6, 2004) said it has acquired Eximsoft, a Bangalore-based IT services firm for an undisclosed sum.
INTERNATIONAL LNM group to invest more than a $1 billion into CEE LNM Group, owned by NRI (Non-Residential Indian) steel tycoon L N Mittal, will invest more than $1 billion into its Central and Eastern European (CEE) steel plants to improve their efficiency and lift profitability, a top company official said today (Oct 6, 2004).
India may lose outsourcing edge to new rivals: Report India's prominence as an outsourcing hub is eroding with new locations including the Philippines and Eastern Europe making their presence felt, a media report said.
BPO in India helped Prudential save £ 60 mn Painting a rosy picture of outsourcing in India, Britain's leading insurance company Prudential on Tuesday (Oct 5, 2004) said that it had effected a £ 60 million cost savings owing to its call centres and back office operation opened in India 18 months ago.
'Offshoring writing projects a threat to US scribes' Not only IT jobs, but some technical journalists' jobs in the US are also threatened by offshoring. "Journalists used to think they were secure. The national writers union is telling journalists that technical writing and even massive writing projects are being shipped abroad," a Washington Times columnist Bob Weinstein says.
No obstacle in receiving World Bank funds: Chidambaram Finance Minister P Chidambaram has denied that there was any obstacle in the way of receiving funds for development from the World Bank and other international sources in the wake of the UPA (United Progressive Alliance) Government assuming office in India with the outside support of the Left parties.
