The Telegraph
Since 1st March, 1999
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Business Briefs

Rupee at 18-month high

Mumbai, March 26: The rupee gained six paise against the US currency today after sustained robust trade inflows helped it surge to a 18-month closing peak at the inter-bank forex market, supported partly by a lingering weak dollar overseas. Even as the market braces for a prolonged war in Iraq, persistent heavy flow of dollars from export proceeds and expatriate remittances drove the rupee to a new 18-month closing high of Rs 47.5550/5650 per dollar, dealers said.

FDI clearance

New Delhi, March 26: The government has cleared 29 foreign direct investment (FDI) proposals worth Rs 262 crore, including the Rs 134.35-crore plan by Atlas Copco to convert its Indian arm into a wholly-owned subsidiary.

BSE fee hike

Mumbai, March 26: The Bombay Stock Exchange (BSE) has hiked share transaction charge by Re 1 per Rs 1 lakh worth of deal to Rs 4, effective April 1.

Sharekhan plan

Calcutta, March 26:, one of the leading stockbrokerage portals, has launched its services in Calcutta today. claims to be among the top three brokerage firms in the country with a daily turnover of over Rs 200 crore.

HCL selloff

New Delhi, March 26: In a move to attract bidders for the loss-making Hindustan Copper (HCL), the disinvestment ministry has decided to ease norms for group transfer of equity stake in the disinvested company allowing strategic partners a greater say in the matter.

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