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Business Briefs

Icra pegs growth at 5%

New Delhi, March 17: Brushing aside official estimates of 4.4 per cent GDP growth during 2002-03, Icra today said all indications pointed to an over 5 per cent growth this year. The reduction in assessed growth in the advanced estimates was due to the negative GDP growth in agriculture and allied activities, the credit rating agency said in the latest Money and Finance bulletin.

Bajaj launch

Chennai, March 17: Bajaj Auto Ltd will soon roll out World Byk, a new brand of motorcycle to be marketed around the world by Kawasaki, its Japanese partner.

Asian Paints

New Delhi, March 17: Asian Paints said it is in the process of “voluntarily” delisting its shares from seven regional stock exchanges due to “extremely low” volume of trading. It, however, plans to continue listing its shares on the BSE and NSE.

Haldia Petro

Calcutta, March 17: Haldia Petrochemicals Ltd is expected to “sort out” the issue of equity participation of either Indian Oil Corporation or Gail Ltd by the end of this month, chairman Tarun Das said.

Satyam stake

Hyderabad, March 17: Satyam Computer Services Ltd will purchase Northrop Space and Mission System’s 24 per cent shareholding in Satyam Manufacturing Technologies Inc, a joint venture between Satyam and Northrop Grumman Space and Mission Systems, for $ 3.5 million.


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