NATIONAL Kamal Nath markets India as 'FDI destination' Commerce and Industry Minister Kamal Nath made a strong pitch for foreign investment in India at the World Economic Forum (WEF) meeting today (Jan 28, 2005), pointing to the recent changes in Press Note 18 and increase in foreign investment limits in ports and civil aviation sectors.
Private Provident Funds can invest 5% in equity Non-Government provident funds have been allowed to invest five per cent of their assets in blue-chip shares and 10 per cent in corporate debts and equity-oriented mutual funds from April 2005.
Sensex leaps by 180 points on aggressive buying Buoyed by excellent performance by select corporates, the market today (Jan 28, 2005) rallied sharply and ended 180 points up, extending the winning streak to third straight session on the back of across-the-board buying support from institutional investors as well as operators.
AI, IA preparing to launch IPO in 2005-06: Patel Public sector carriers Air India and Indian Airlines are preparing for their Initial Public Offers (IPO) by the next fiscal to fund their fleet-acquisition programmes and enhance debt-equity ratio.
SBI Q3 net up by 19.57 pc at Rs 1,099.35 crore Aided by higher credit off take and lower cost of deposits, State Bank of India (SBI) has posted a 19.57 per cent rise in its net profit at Rs 1,099.35 crore for the quarter ended December 31, 2004 as compared to Rs 919.44 crore for the quarter the previous fiscal.
Inflation falls to a 33-week low of 5.42 per cent Inflation fell to 33-week low of 5.42 per cent for the week ended January 15 mainly due to lower prices of essential items like vegetables, fruits, tea, edible oil and naphtha.
SBI Q3 results bolstered sensex past 6300-mark Bolstered by the announcement of better-than-expected third quarter results by SBI (State Bank of India), the sensex today (Jan 28, 2005) rallied further after opening on a promising note and was quoted above 6300-mark at 10:30 hrs (IST) on the Bombay Stock Exchange (BSE) on sustained value buying.
Sutherland and Talisma form marketing alliance BPO major Sutherland Global Services has entered into a marketing alliance with Talisma, a leading provider of online customer service and support market software.
RIL extinguishes over 22 lakh shares from buyback Reliance Industries Ltd (RIL) yesterday (Jan 27, 2005) said it has extinguished 22,27,630 shares pursuant to its buyback process initiated on January 10.
