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Business Briefs

Sensex spurts 80 points

Mumbai, Sept. 23: The stock markets took a U-turn at the fag-end of today’s trading as hectic buying by retail operators and some foreign institutional investors drove the sensex sharply higher by 79.97 points to close at 4231.69. Old-economy heavyweights grabbed the limelight, despite early weakness. An upsurge in index-based blue-chips like Reliance, Hindustan Lever, Bhel, State Bank, ITC, Telco, Tisco, Hindustan Petroleum, ICICI Bank, Grasim, Hindalco, BSES, Gujarat Ambuja, Hero Honda, Satyam Computer and Zee Telefilms mainly contributed to the sensex rise.

BSE move

Mumbai, Sept. 23: In an attempt to squeeze out unwanted speculation, the Bombay Stock Exchange has clamped down on the trading of nine scrips which include Global Trust Bank, Silverline Industries, Himachal Futuristic Communications, Pentamedia Graphics, SSI Ltd, Kopran, GTL, Aftek Infosys and Lupin by putting these under trade-to-trade basis.

HCL Info net up

New Delhi, Sept. 23: HCL Infosystems today reported an over 500 per cent rise in consolidated net profit for the year ended June 2003 at Rs 92.65 crore from Rs 15.36 crore a year ago.

Fiscal deficit

Mumbai, Sept. 23: The fiscal deficit of about 5 per cent will not pose any problems for the higher growth path of Indian economy even though it could be an impediment, RBI governor Y. V. Reddy said today, while addressing the International Monetary and Financial Committee of the International Monetary Fund and World Bank, in Dubai.

Philips unit

Calcutta, Sept. 23: Philips India Ltd has stopped production at the lighting factory located at Taratolla here.

Salary norms

Mumbai, Sept. 23: The Reserve Bank of India has extended salary remittance facility to Indian nationals employed by a foreign company on deputation to India subject to certain conditions.

Dishergarh

Calcutta, Sept. 23: Dishergarh Power Supply Co Ltd is expanding its Chinakuri Power Station by installing a 30MW plant.


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