Industry grows 9.5%

New Delhi, June 12: Industry clocked a growth of 9.5 per cent in April this year, up from 8.1 per cent in the same month last year, according to the official data released today. The growth was propelled mainly by the manufacturing sector, which grew at 10.4 per cent compared with 9.2 per cent in April 2005. The manufacturing sector carries a two-third weight in the index of industrial production. As a result, the poor performances of the mining and electricity sectors were covered up.

BSNL tender

New Delhi, June 12: Nokia, Ericsson, Motorola, Siemens and ZTE are competing for the GSM tender floated by BSNL for 45.5 million lines, involving an investment of about Rs 21,000 crore. BSNL has formed an evaluation committee to examine the bids on techno-commercial grounds.

Sesa Goa

Mumbai, June 12: Sesa Goa Ltd has received shareholders? approval to amalgamate Sesa Industries Ltd with itself at a court-convened meeting held on May 8, the company has informed the Bombay Stock Exchange.

Bank stir

Chennai, June 12: A decision on a nationwide bank strike will be taken at the general council meeting of the All Indian Bank Employees Association on June 13 and 14. About five lakh employees will participate in the strike if the general council decides to hold one, AIBEA general secretary C.H. Venkatachalam said.

Insurance act

Brussels, June 12: The government plans to introduce a bill to amend the insurance act, which provides for increasing the foreign direct investment cap in the sector from 26 per cent to 49 per cent, according to Union finance minister P. Chidambaram.

Ciba venture

Mumbai, June 12: The board of Ciba Speciality Chemicals India Ltd has approved a joint venture with Hyderabad-based Virchow Drugs Pvt Ltd to manufacture speciality chemicals.

Torrent move

Mumbai, June 12: Torrent Power AEC Ltd said it has got shareholders? approval for the merger of Torrent Power SEC Ltd with itself.