 |
|
| BoI
mastercard NEW DELHI,
Dec 5: In
recognition of the services of the Indian Navy Personnel
Bank of India has launched the BoI navy card with
mastercard international on the occasion of Navy Day.
.....more NEW
DELHI, Dec 5:
Foreign Investment Promotion Board (FIPB) today cleared
18 Foreign Direct Investment (FDI) proposals worth over
Rs 400 crore, including one by French multinational
dupont....more |
 |
Pivotals
stage moderate recovery on BSE MUMBAI, Dec
5: Pivotals
staged moderate recovery on the Bombay Stock Exchange
(BSE) after witnessing sharp fall in last two consecutive
weeks on renewed buying support from institutional
investors during the week ended on December 4..........more
NEW DELHI, Dec 5: Kerala Government today appealed to the Prime Minister. .....more |
 |
|
NEW DELHI, Dec 5: In recognition of the services of the Indian Navy Personnel Bank of India has launched the BoI navy card with mastercard international on the occasion of Navy Day. The special BoI Navy Card will issued to officers and men of the Indian Navy as a Welfare Scheme by the Indian Navy. The card will be be accepted at the Indian Naval Canteen Stores, Indian Naval Command Messes and Naval Institutes to provide maximum benefits to the officers. Besides, the card will have all the benefits of a mastercard including acceptance at over 1,03,000 mastercard acceptance locations in India and Nepal and cash advance facility. The specially designed card will feature the Indian Navy logo along with BoI and Master Card logos. The Classic and Gold Cards will also carry the officer’s designation. The BoI Navy Card has multiple insurance benefits. An accident insurance benefit has been extended to the high seas and ships as a unique incentive. The Chief of the Naval Staff Admiral Vishnu Bhagwat BoI senior general manager K M Mehrotra and while senior vice president and general manager South Asia Master Card international J Sannon were present an the occasion, a company release said. (UNI) |
|
FIPB clears 18 FDI proposals worth Rs 400 cr NEW DELHI, Dec 5: Foreign Investment Promotion Board (FIPB) today cleared 18 Foreign Direct Investment (FDI) proposals worth over Rs 400 crore, including one by French multinational dupont. Dupont has been allowed to increase equity capital from Rs 235 crore to Rs 335 crore in its Indian subsidiary Thapar dupont, which manufactures Nylon Tyre Cord, FIPB sources said. Dupont holds 95 per cent stake in Thapar dupont. The remaining five per cent is held by Japanese Conglomerate Mitsui. Ballarpur Industries Ltd (BILT) of the Thapar Group had earlier got out of the venture by selling its entire stake. US multinational Philip Morris has been allowed a massive expansion in its food processing subsidiary. Philip Morris is increasing the equty base of the wholly-owned subsidiary to Rs 70 crore from Rs 25 lakhs. The company has also been allowed to increase its product range items like cheese, cottage cheese and confectionery. However, sources said the company will not be allowed to manufacture items which are reserved for small scale industries. The board, which had many high-profile media and advertising proposals like R K Swamy Advertising, Mudra Communications, Discovery Channel and United Entertainment Network on today’s agenda, decided to postpone these proposals pending policy decision on foreign investment in media. (PTI) |
|
Pivotals stage moderate recovery on BSE MUMBAI, Dec 5: Pivotals staged moderate recovery on the Bombay Stock Exchange (BSE) after witnessing sharp fall in last two consecutive weeks on renewed buying support from institutional investors during the week ended on December 4. Lifting of economic sanctions by the United States imposed on India after the nuclear tests has boosted market sentiments. Though the political uncertainity in wake of Bharatiya Janata Party (BJP)’s defeat in the Assembly elections in four states, gave setbacks to the market, pivotals registered gains on buying support from institutional investors during the week. Clouds of uncertainity dispersed when the Congress indicated that they will not pull down the coalition Government at the Centre, while various efforts by the ruling coaliton parties to overcome the situation also strengthened the confidence of market participants, a leading bse broker said. Mirroring the trend, the 30-scrip BSE sensitive index gained by 66.72 points to 2849.82 points from the previous week’s close of 2783.10 points. The broad-based BSE-100 index also recovered by 24.16 points to 1266.49 points as against the last week’s close of 1242.33 points. The market saw change in trends every alternative day, it opened on a firm note on Monday, made a retreat on Tuesday and again witnessed uptrend on Wednesday and the downtrend on Thursday. The market ended on a firm note with the sensex registering smart gain of about 45 points that day. The BSE-200 and dollex indices also advanced by 5.07 and 1.20 points to 294.10 and 115.10 points as against last Friday’s close of 289.03 and 113.90 points respectively. Total turnover on the BSE declined by Rs 91.09 crore to Rs 4600.28 crore as against last week’s total turnover of Rs 4691.37 crore. Among the issues, Bajaj Auto gained Rs 28 to Rs 561, BHEL Rs 9 to Rs 238.70, BSEs Rs 3.20 to Rs 145, Burrough Wel Rs 39.50 to Rs 609.25, Cadbury Rs 12.50 to Rs 398.50, Colgate Rs 5.20 to Rs 172.80, Dr Reddy Rs 12.50 to Rs 424.25, Geraman Reme Rs 22 to Rs 577.75, Grasim Rs 4.90 to Rs 144.10, Hero Honda Rs 6.75 to Rs 545.75, Hindalco Rs 10 to Rs 505, Infosys Tech Rs 82 to Rs 2432.25, ITC earned Rs 23.75 to Rs 705, NIIT rose smartly by Rs 45 to Rs 1400, Reliance Rs 1.60 to Rs 113.30, SBI Rs 2.80 to Rs 153.60, TELCO Rs 6.80 to Rs 122 and TISCO Rs 9.95 to Rs 94.25. The losers were ACC down by Rs 52.75 to Rs 837.50, Ind Hotel Rs 40.75 to Rs 381.25, Pentafour soft lost Rs 23.50 to Rs 495.50. Country’s another leading stock excahnge, the National Stock Exchange also witnessed similar trends during the week. Reflecting the recovery, the S P CNX nifty index gained by 17.50 points to 828.35 points from the previous week’s close of 810.85 points. The S P CNX nifty junior closed higher by 26.30 points to 1395.30 points as against the last week’s clos of 1369. S P CNX defty was advanced by 13.90 points to 674.55 points from last Saturday’s close of 660.65 points. The S P CND-500 and MIDCAP -200 rose by 10.75 and 8.42 points to 567.73 and 509.73 points from the last week’s close of 556.98 and 501.31 points respectively. Total turnover on the NSE reported during the week was Rs 5745.46. (UNI) |
|
PM urged to stop selling of Indian Rare Earths Ltd NEW DELHI, Dec 5: Kerala Government today appealed to the Prime Minister to desist from selling the Indian Rare Earths Ltd and offered to take over this profit making establishment dealing with potentially dangerous minerals having security implications and nuclear applications. Kerala Industries Minister Suseela Gopalan met Prime Minister A B Vajpayee and sought his personal intervention to cancel the international tenders floated for giving 74 per cent equity of this company to multinationals. Mrs Gopalan told reporters that the Prime Minister has told her that he had sent for a report on this unit under the Department of Atomic Energy. She said the move for disinvesting this company would also be detrimental to the interest of the country especially to Kerala. She said the Kerala Government was ready to take sufficient shares to keep it as a state public sector undertaking or even to take over it. Mrs Gopalan said the Government of India had brought the mineral constituents of the beach sands under the classification of prescribed substances under the Atomic Energy Act and made it mandatory to obtain licence to deal with them essentially to prevent the possibility of the mineral monozite from falling into the hands of anyone who could act against the interest of the country. In a major policy shift, the Centre on October 6 last opened up the mining and separation activities to wholly Indian owned companies. Mrs Gopalan said the reasons given for the shift of policy were totally untenable. In her letter to the Prime Minister Mrs Gopalan said she failed to understand the difficulties for acquiring more land for the Indian Rare Earths Ltd which was operating profitably over the last 40 years. It has also substantial reserves running into several crores, she said.It has never approached the state Government for acquisition of more land, she recalled. Under the present situation, there was no valid reason to hand over the mining operations to private parties through international tenders, she said. If the private parties are allowed 74 per cent equity participation, foreign companies could completely control the entire operations, she said.(UNI) |
|
|
|
|