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Business Briefs

Stocks gyrate on FI selloff

Mumbai, Aug. 5: Equities today gyrated in a 117-point range as concerns mounted over the effects of a slowdown in foreign investments, coupled with heavy sales by domestic institutions. The bourses were caught in utter confusion that sent the sensex swinging wildly and snapping a nine-day rally at close. The key index began at 3845.93 and rallied to an intra-day high of 3878.72. However, late selling by local funds dragged it down to the day's low of 3761.84, a drop of 117 point. The index closed at 3765.82 against yesterday's 3832.50, a fall of 66.68 points.

Century plans

Mumbai, Aug. 5: Century Textiles would undertake a brand valuation exercise, director S. K. Birla said today. He also ruled out the possibility of a demerger of the company's cement division. Cement would be one of the major profit areas, he added.

Farm tariff row

New Delhi, Aug. 5: India and the US are slugging it out over the US demand that India agrees to reduce tariff on a host of farm products, including grain. The US also disagrees with the Indians over demands that US pharmaceutical giants allow drug makers in developing countries to make critical drugs for public health programmes.

Ford launch

Bangalore, Aug. 5: Ford India today launched Flair, the variant of Ford Ikon, making an entry into the sub-Rs 5 lakh market with its mid-sized luxury car.

MS Accelerator

New Delhi, Aug. 5: Microsoft today released Microsoft Accelerator, an integrated set of products and services for firms that want to secure a Six Sigma certification.

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