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Business Briefs

Sensex at new high

Mumbai, Nov. 13: The sensex today closed at an all-time high of 13399, a net rise of 116.09 points or 0.87 per cent over Friday’s close of 13282.91. It also hit an intra-trade peak of 13410.08, riding on the three-day long bull-run.

al Stock Exchange’s S&P CNX Nifty touched 3862.05 before ending at an all-time high of 3858.75, a net rise of 24 points, or 0.63 per cent, over the previous close of 3834.75.

DRL move

New Delhi, Nov. 13: Dr Reddy’s Laboratories (DRL) has filed a shelf registration statement with the US Securities and Exchange Commission for a proposed offering of 13.5 million American Depository Shares (ADS).

Medical bill

Mumbai, Nov. 13: Dismissing three petitions filed in 1993, Bombay High Court today held that medical reimbursement falls in the category of perquisites under the income tax act, and is taxable above the prescribed limit

IDFC buy

Mumbai, Nov. 13: Infrastructure Development Finance Company Ltd (IDFC) will pick up an 8.71 per cent stake in Asset Reconstruction Company (India) for Rs 57.46 crore.

Phone service

New Delhi, Nov. 13: Poor quality of service continues to plague the telecom sector with 57 per cent operators in the country failing to meet the benchmark criteria for all parameters set by regulator Trai.


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