Sebi fines DLF

Mumbai, Feb. 20: Sebi has imposed a Rs 1 crore fine on dlf Commercial Developers for trading in the shares of Bhoruka Financial Services Ltd (BFSL) at the de-recognised Magadh Stock Exchange Association (MSEA). Sebi said msea’s renewal for recognition as a stock exchange was at a proposal stage when the transaction in the bfsl scrip took place.

Dabur Foods

New Delhi, Feb. 20: Dabur Foods will invest Rs 100 crore to expand capacities and expects to double revenues to Rs 500 crore in the next three years. “We will close the current fiscal at a turnover of Rs 250 crore and are targeting Rs 500 crore by 2009-10,” Dabur Foods chairman Amit Burman said.

PTC venture

Mumbai, Feb. 20: ptc, US-based IT product developer, plans to acquire a company in the technology and services space in India at a deal value of up to $50 million.

RINL move

Visakhapatnam, Feb. 20: Rashtriya Ispat Nigam Ltd (rinl) plans to pick up a 15 per cent stake in the special purpose vehicle, to be jointly floated by five central psus, for acquisition of coal mines abroad, rinl chairman and managing director Y. Siva Sagar Rao said.

Wheat output

New Delhi, Feb. 20: Agriculture minister Sharad Pawar has forecast a wheat production of over 72.5 million tonnes this year, saying crop condition in the on-going rabi season looked “extremely good”.