The Telegraph
Since 1st March, 1999
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Business Briefs

Inflation dips to 5.65%

New Delhi, June 8: A sharp to moderate price fall in non-food, food products and manufactured items triggered a 0.25 per cent dip in inflation rate to 5.65 per cent for the week ended May 24, although domestic fuel prices remained firm. The point-to-point wholesale price index fell from the previous week’s level of 5.90 per cent and the index was a mere 1.43 per cent in the year-ago period.

MTNL contract

New Delhi, June 8: The Delhi High Court has restrained MTNL from finalising technical bids for procuring telecom equipment after Nokia India alleged that it was disallowed from participating in the bidding on flimsy grounds. The contract runs into several crores of rupees.

CSE roadmap

Calcutta, June 8: The beleaguered Calcutta Stock Exchange is all set to submit demutualisation roadmap as suggested by Sebi within this month. “The exchange is in advanced stage of drafting the roadmap and once it is ready we would place that before the members for approval,” senior CSE officials said.

Fiat launch

New Delhi, June 8: Fiat India is likely to launch a diesel version of its mid-size car Siena in an attempt to drive demand and achieve a nearly 31 per cent rise in sales at 42,000 cars this year.

Nalco float

New Delhi, June 8: The government is likely to file draft prospectus for Nalco’s public offer with Sebi by end of August. Simultaneously, the government has also started work on the overseas float for divesting 10 per cent equity in Nalco, sources said.

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