NATIONAL India Inc favours an investment-friendly budget Favouring an investment-friendly budget to attain 8-10 per cent GDP growth, India Inc today (Jan 11, 2005) pitched for 5 per cent cut in corporate tax and customs duty, especially on petroleum, to make industry globally competitive.
Mukesh Ambani meets Finance Ministry officials Reliance Industries Chairman Mukesh Ambani, who is engaged in a battle with younger brother Anil over ownership of Reliance Group, today (Jan 11, 2005) spent the day in the capital holding important meetings with top officials of Finance Ministry and some others.
RIL buys 3 lakh shares; fails to halt fall in prices Reliance Industries today (Jan 11, 2005) bought over three lakh shares for Rs 16.5 crore on the second day of its buyback programme but failed to prevent the continuous fall in the company share prices.
Sensex loses 85 pts on FIIs sell-off; ends at 6222 Stocks suffered a sharp setback for the second straight day and the Sensex ended at more than one month low of 6222.87 in continued volatile activity on the Bombay Stock Exchange today (Jan 11, 2005) on sustained sell-off from Foreign Institutional Investors (FIIs) as well as operators.
Dendrite to double Indian team to 300 by December Dendrite Software, a US-based software firm focused on solutions for the pharma industry plans to nearly double its strength at its India development centre in Bangalore to 300 from the existing 165 engineers by December.
Mphasis Q3 net profits dips by 6% at Rs 26.85 crore Software and BPO firm Mphasis BFL today (Jan 11, 2005) posted a 6.1 per cent dip in net profits at Rs 26.85 crore for the third quarter ending December, as against Rs 28.49 crore during the same period last year.
Sensex up by nine points during morning trading The sensex today (Jan 11, 2005) showed a rise of about nine points at 10:30 hrs (IST) after fluctuating erratically during morning trading on the Bombay Stock Exchange (BSE) on alternate bouts of buying and selling.
