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Business Briefs

BSES chief backs RIL open offer

Mumbai, Dec. 23: Acting chairman of BSES S. S. Dua today backed the Reliance Industries’ (RIL) open offer for the power utility company. The chairman’s support assumes significance as the BSES board is slated to meet on Wednesday to discuss the open offer. A statement issued today, which was signed by HRD director K. D. Kulkarni on behalf of Dua, said: “We strongly support Reliance’s open offer for BSES. Considering Reliance’s consistent track record of superior operational and financial performance, we are confident that BSES will rise to new heights under Reliance’s management control leading to enhancement of overall value for all stakeholders''.

CSE scam bail

Calcutta, Dec. 23: A Calcutta court today granted bail to six stock brokers accused of defrauding the CSE of Rs 120 crore. The chief metropolitan magistrate said the police could not file a chargesheet against the accused within the statutory 90 days.

Air-India profit

New Delhi, Dec. 23: Air-India has posted a net profit of Rs 15.44 crore during 2001-02, after emerging out of a loss of Rs 44.40 crore in the previous fiscal, though its turnover fell by 4.7 per cent.

Rupee steady

Mumbai, Dec. 23: The rupee ended quietly steady against the dollar today at Rs 48.00/48.01 per dollar after testing the current year’s intra-day high of Rs 47.96/97 due to accumulated weekend dollar supplies.

TCS jobs

Bangalore, Dec. 23: Tata Consultancy Services (TCS) plans to recruit around 4,000 software professionals in the next one year, the global slowdown notwithstanding.

ICICI Bank

Mumbai, Dec. 23: ICICI Bank today launched Resident Foreign Currency Account — RFC(D) — whereby resident Indians can open an account with the bank to be maintained in four foreign currencies.

BBUNL bid

New Delhi, Dec. 23: Bharat Bhari Udyog Nigam (BBUNL) invited initial bids for sale of 60 per cent stake in its subsidiary Braithwaite and Co to a strategic partner along with management control.


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