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Business Briefs

Sensex at two-month high

Mumbai, Nov. 21: The sensex continued its upsurge for the fifth successive day on the Bombay Stock Exchange as it rose 25.88 points to close above the 3100-mark at 3101.36 for the first time after two months. A sustained rally in new as well as old economy counters triggered the surge. Sharp upswing in Infosys Technologies, Bajaj Auto, Bhel, ACC, HDFC, ITC, L&T, RIL, Telco, HCL Tech and Satyam Computer also helped the sensex to maintain its rising trend.

Nicco debt

Calcutta, Nov. 21: Nicco Corporation Limited has approached the consortium of banks and financial institutions for restructuring its debt with a view to reduce interest burden of the company.

Maruti sale

New Delhi, Nov. 21: The government will commence next month the second stage of disinvestment of Maruti Udyog through a public offering for 25 per cent equity.

IDBI bonds

Mumbai, Nov. 21: The Industrial Development Bank of India (IDBI) is launching its second series of Flexibonds this year. The size of the issue has been fixed at Rs 250 crore with an option to retain an over-subscription of up to Rs 250 crore.

Nedungadi

New Delhi, Nov. 21: Even as the stage is being set for Punjab National Bank to take over Kerala-based Nedungadi Bank, the credit rating agency Icra today placed the latter’s two bond issues under rating watch.


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