Bajaj Tempo name

New Delhi, March 15: Firodia-run Bajaj Tempo today said it would go ahead with steps to rechristen itself as Force Motors. Firodias also made it clear that they are not contemplating offloading their holding in Bajaj Auto. Bajaj Tempo CMD Abhay Firodia said, 'According to the directive received from the regional director, western region, ministry of company affairs, the company has proposed to change its name to Force Motors Ltd. The directive is issued under section 22 of the Companies Act, 1956, whereby it is mandated that a change in name should be carried out by an ordinary resolution.' If it goes by this route, Bajaj Auto ' which holds a 24 per cent stake in Bajaj Tempo ' will not be able to block the resolution.

Gail deal

New Delhi, March 15: Gail has entered into a MoU with Bangladesh firm Cosmos for joint co-operation in gas processing and LPG projects in the neighbouring country. Gail will undertake these projects on a build-own-operate-transfer basis.

M&M plan

Mumbai, March 15: Mahindra & Mahindra Ltd will launch its sports-utility vehicle Scorpio in Oman, following its popularity in South Africa, Europe, the United Arab Emirates and Qatar.

Growth target

New Delhi, March 15: The government will continue to pursue policies to ensure a double-digit growth in the coming years, while inflation is likely to remain below 5.0 per cent till March end, chief economic advisor Ashok Lahiri said today.

Sensex drops

Mumbai, March 15: The stock market witnessed highly volatile trading today and the sensex drifted further down by 58 points to close at 6752.45 against yesterday's close of 6810.04.

Duty drawback

New Delhi, March 15: The government today announced the setting up of a committee for formulating the duty drawback scheme for 2005-06. Textile exporters have recently voiced their concerns over the changes in the scheme.

Wipro shares

New Delhi, March 15: Wipro has decided to allot 1,20,452 shares under the ADS stock option scheme.