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Thursday,
June 12, 2003, Chandigarh, India  
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Shourie
hopeful of Maruti IPO’s success Essar
shortlisted for SCI stake TCS,
Infosys to get STPI awards
Agri Expo
Zone for J&K Non-tobacco
bidis launched Former
CSE president held |
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Oracle
centre for Gurgaon Sony
laptops in India
Rly
season tickets to cost more Gold
nosedives by Rs 100
TCS,
Informatica expand pact
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Shourie hopeful of Maruti IPO’s success New Delhi, June 11 Disinvestment Minister Arun Shourie talking to reporters expressed hope that “it will be
successful, and then the effect on Nalco and BPCL will be good. Even on primary market there will be a good effect. The primary market will be strengthened.” His comments on Maruti come a day ahead of opening of the IPO involving sale of 7.2 crore shares. Maruti’s IPO, which will be conducted through a book-building route, will open tomorrow and close on June 19. Maruti, perhaps, was one of the rare cases in a competitive segment capturing the majority market with more than 55 per cent share despite the presence of a dozen renowned auto companies around the world. He said the Suzuki Motor Corporation had shown tremendous confidence in Maruti. Suzuki Corporation had underwritten the IPO to the extent of Rs 2,300 crore, he said. Suzuki had also paid Rs 1,000 crore to the government to have management control over Maruti and another Rs 400 crore for the rights issue, Mr Shourie pointed out.
Govt to counter curbs on outsourcing
Mr Shourie said concerted efforts were on to counter the moves of the USA, Germany and other European countries to restrict the outsourcing of IT services to India. While the government had taken up the issue with the countries through its embassies, his ministry had asked Nasscom and the Indian Industry to mobilise the beneficiary foreign companies to put pressure against such moves by their governments.
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Essar shortlisted for SCI stake
New Delhi, June 11 All four bids, including one from foreign entity, were found fulfilling the networth criteria by the Inter-Ministerial Group which met here yesterday to chart out the further course of action for privatisation of SCI through sale of 51 per cent equity to a strategic partner. The bidders, who filed their applications by the last date for expressions of interest on June 6, were found eligible even as per the higher norms as the government decided to raise the networth criteria from Rs 800 crore to Rs 1,000 crore, sources associated with the SCI disinvestment process told PTI. Sterlite Industries and the Videocon group are understood to be other bidders, though there was no official confirmation as sources declined to name the aspirants, including the foreign entity. The government had earlier decided to seek rebids for SCI after most of the bidders, including GE Shipping, had pulled out from the race citing inordinate delays in decision making process. The disinvestment had evoked poor response from foreign players during the first round.
PTI
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TCS, Infosys to get STPI awards
New Delhi, June 11 While TCS topped the software exports in 2001-02 with an export value of Rs 2,657.41 crore, the honour had gone to Infosys in the previous year (Rs 1,773.32 crore). President A.P.J. Abdul Kalam will present the STPI national awards for the two years at a function here on Friday, IT Minister Arun Shourie told reporters today. In 2001-02, Infosys came second with Rs 2,450.35 crore worth of exports, followed by Wipro Ltd with Rs 1,720 crore. In 2000-01, Wipro was second with Rs 1,698.61 crore worth of exports, while the third position had gone to TCS (Rs 864.66 crore). Under the small and medium enterprises category, the first three positions for 2001-02 have been taken by e-Service International Ltd, Mumbai, HSBC Electronic Data Processing India, Hyderabad and Deloitte Consulting India, Hyderabad. For 2000-01, the SME growth rate awards go to Aztec Software and Technologies Services, Bangalore and, PSI Data Systems Bangalore.
UNI
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Sugarfed to pay 164 cr soon Chandigarh, June 11 Talking to TNS, Mr
T.R. Sarangal, Managing Director, Sugarfed, today claimed that the Sugarfed was making all efforts to clear payments of the farmers as early as possible. He said efforts were being made to release the payment of the farmers on monthly basis. The Sugarfed mills are now releasing about 2.65 lakh bags of sugar every month in the market under the quota fixed by the Centre. The prices in the international sugar market had dropped sharply and the sugar prices in the domestic market are varying between Rs 11.50 and Rs 12.50 per kg. Due to surplus stocks in other states, the Sugarfed is finding it difficult to offload the stocks in the market. After the clearance of Essential Commodities Amendment Act, the Centre has already debarred all private and cooperative sugar mills to sell sugar in the open market. This measure is expected to raise the prices of the sugar in the domestic market. Regarding the move of some sugar mills in Uttar Pradesh to offer sugar to farmers in lieu of cash payment, Mr Sarangal said,‘‘I am personally not in favour of offering sugar to farmers. If we give them sugar instead of cash they will sell it in the market resulting in further fall in the prices in the domestic market. It would not be in the interest of the farmers as well.’’ The officials in the Sugarfed disclosed that the Centre had already given a go-ahead to the state government's proposal to export surplus sugar by subsidising to the
Sugarfed. They claimed that tenders had been called for this purpose, but it would be difficult to sell low quality sugar in the international market. They said about 1.23 lakh tonnes of sugar was now stored in temporary godowns and the quality of that sugar was deteriorating day by day due to exposure to heat and moisture.
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Agri Expo Zone for J&K Srinagar, June 11 Replying to the discussion on budgetary grants, the Minister said the launch of Agriculture Expo Zone this year would be a path-breaking move to boost exports of both fresh and dry fruits to the overseas markets which would bring prosperity in this state. He said the state should develop hybrid seeds in agriculture universities in spite of procuring it from other states Among the major steps taken by the coalition government for horticulture promotion, he said a website had been launched for keeping the orchardists abreast with the changing market trends, particularly at the national level. The fruit traders could browse the site to know prices in various fruit markets, not on daily basis but hourly basis. This could help them in deciding about the sale of horticulture produce on remuneration prices. He said a high-level ICAR team led by its Director General had promised the state of a tissue culture laboratory that would go a long way in multiplication of improved plant material. He said Rs 100 crore technology mission for promotion of horticulture is also in pipeline. The mission, to be implemented in five years, would include modernisation of nurseries, area expansion, building of infrastructure like cold-storage, cold chains, refrigeration vans and irrigation infrastructure. It would enable the state to bring 7000-8000 hectares under horticulture annually. He said a Rs 12 crore project for development of sheep and wool products was also being launched from this year adding that sheep breeders would be provided support price for selling their wool. This incentive would be given at Rs 35 per kg . Rs 20 crore have been earmarked for Command Area, Jammu, this year under which projects would be taken up for execution.
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Non-tobacco bidis launched
New Delhi, June 11 Mr Sudershan Banerjee, Managing Director, DCC, said this would be the first of a series of similar products the new company was planning.”We will touch the lives of thousands of people in India and overseas to make their lives better, safer and healthier”, he said. Vardan is the outcome of extensive research conducted by the Dalmia Centre for Research and Development led by Dr P M Murali, he said. This product had been tested for the total absence of tobacco, nicotine and tobacco specific nitrosoamines, Dr Murali said. Estimates of the bidi market in India were between Rs 12,000 and Rs 15,000 crore annually, Mr Banerjee said. DCC would invest between Rs 50 and Rs 100 crore in this product annually during the first three years, he said. Asked why the company had come out with a non-tobacco product, Mr Banerjee said their message is against tobacco smoking.
UNI
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Former CSE president held
Kolkata, June 11 Deputy Commissioner of Police (Detective) Soumen Mitra said Parekh was arrested yesterday after inconsistencies were found in his statements during interrogation. The Kolkata Police has so far arrested 20 persons which included the big bull Ketan Parekh and the three alleged main defaulters — Harish Chandra Biyani, Ashok Kumar Poddar and Dinesh Kumar Singhania — in connection with the crisis. Each of them had spent three months in custody before being released on bail.
PTI
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Oracle centre for Gurgaon
Kolkata, June 11 The model centre, by the Indian subsidiary of Oracle Corporation, would use Linux as the operating system and showcase e-governance application for the governments in the country and support the initiatives taken by the governments at the central, state and local level. The centre, to promote successful e-governance projects implemented, would showcase the best architecture and applications so that the project cost could be reduced. It would also familiarise visitors on emerging technology developed specifically for the country and conduct workshops on the subject. “The centre, to have capabilities on the virtual platform, would handle pilot projects at the beginning. The centre would try to build up a proper government enterprise, business, supplier and employee relationship,” Oracle India Director Public Relations Dipankar Sanyal said here today.
UNI
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Sony laptops in India
New Delhi, June 11 The trading will be carried out through Sony Corporation’s Indian subsidiary Sony India, sources said here, adding that Sony’s proposal has been cleared by the Foreign Investment Promotion Board at its meeting held on May 14. Other products for which this operation will be used include Bluetooth technology line-up
handycam, digital camera, memory sticks, Playstation 2 and pocket-sized CD burner.
PTI
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Rly season tickets to cost more
Mumbai, June 11 Speaking to mediapersons while discussing a white paper on safety on Indian Railways, Minister of State for Railways B Dattatreya said today that a surcharge of Re 1 would be imposed on a second class card ticket and Rs 2 on a first class card ticket. A surcharge of Rs 10 would be imposed on second class and a monthly season pass and Rs 30 on a quarterly pass. A surcharge of Rs 15 would be imposed on a first-class pass for the first 50 km.
PTI
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Gold nosedives by Rs 100 New Delhi, June 11 A significant fall in yellow metal price in the overseas markets where it quoted around $ 351.70 an ounce during the day against previous close of $ 359 mainly triggered selling by stockists. Weakening US dollar against euro also influenced the trading sentiment to some extent as dollar-denominated yellow metal becomes cheaper if bought in other regional currencies. Standard gold and ornaments lost Rs100 each at Rs 5,500 and Rs 5,350 per 10 gram. Silver ready dropped further by Rs 50 at Rs 7,440 per kilo.
PTI |
The chemical division of Voltas has recently entered marketing tie-ups with four international companies to introduce 10 chemical applications in India. i-flex Solutions is moving towards the Francophone (French speaking) countries with its flagship solution Flexcube. J.K. Paper is looking for the branded segment for growth and to consolidate its position as a market leader. Essar Steel has reported a net profit of Rs 67.42 crore for the second quarter ended March 31, against a net loss of Rs 186.39 crore during the corresponding period last year. Morepen has filed an international process patent for manufacturing Montelukast sodium, an asthma drug. BPCL is planning to sell its lube products in the East Africa triumvirate of Kenya, Uganda and Tanzania. Dabur India plans to enter the fruit-based deposit candy market through its Hajmola brand. Bank of Punjab has reportedly been on the lookout for a suitable match for sometime now and this time the noise around potential contenders seem to indicate a Canadian twist. Wipro plans to set up now software development centres in Southeast Asia and Europe. Moser Baer plans to expand capacity and add new products to its portfolio. For this the firm plans to invest around $ 100 million to $ 120 million. Tisco Board has approved voluntary
delisting of its ordinary shares from Delhi, Kolkata, Pune,
Cochin, Patna and Ahmedabad stock exchanges, subject to shareholder’s
approval. |
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PSB insurance Frito-Lay pact Ready Bacardi StanChart MF |
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