Sensex bounces back

Mumbai, Dec. 1: The sensex today more than made up for the losses it suffered over the last two days. The stock market barometer gained a whopping 155.97 points, or 1.77 per cent, on heavy buying that was encouraged by firm Asian advices. It opened the day higher at 8,813.82. After a temporary drop to 8,769.56, the sensex shot back to a high of 8960.11 and ended the day at 8,944.78 points. Both foreign and domestic funds bought heavily into the stocks of blue-chip public sector firms, consumer goods, auto and pharmaceutical companies, banks and metals.

Bill Gates

New Delhi, Dec. 1: Microsoft chairman Bill Gates will pay his fourth visit to India from December 6 to strengthen focus and generate more demand for the company's products.

RBI bill

New Delhi, Dec. 1: A parliamentary panel today approved a bill that will give the Reserve Bank of India the flexibility to cut cash reserve ratio below 3 per cent and issue new instruments for covering interest rate risks.

RIL demerger

Mumbai, Dec. 1: Bombay High Court will hear tomorrow a petition pertaining to the demerger scheme of Reliance Industries Ltd (RIL), seeking approval for changes in the shareholding pattern as settlement between Ambani siblings Mukesh and Anil.

Mitsubishi

Mumbai, Dec. 1: Mitsubishi Motors today said it plans to launch its sedan, Cedia, and sports utility vehicle Montero by the first quarter of next year in partnership with Hindustan Motors.

Hind Lever

Mumbai, Dec. 1: Hindustan Lever Ltd today said it has received Bombay High Court's approval for the demerger and transfer of its tea divisions in Assam and Tamil Nadu to Doom Dooma Tea Company Ltd and Tea Estates India Ltd, respectively.

Airline merger

New Delhi, Dec. 1: There is no proposal with the government to merge Air-India and Indian Airlines into a single company, civil aviation minister Praful Patel told Lok Sabha today.