The Telegraph
Since 1st March, 1999
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Business Briefs

Exports up 6.5 % in August

New Delhi, Oct. 1: India has registered a 6.55 per cent growth in exports in August 2002 at $ 3.88 billion compared with $ 3.64 billion registered in the same month last year. In rupee terms, exports grew at a rate of 10 per cent during August at Rs 18,878.30 crore. Imports during August 2002 were valued at $ 4.62 billion compared with $ 4.37 billion in August 2001, an increase of 5.84 per cent.

Indal offer

Mumbai, Oct. 1: Hindalco Industries Ltd has revised the dates of the open offer to acquire 25.5 per cent stake in Indian Aluminium Company Ltd (Indal) at Rs 120 per share. The offer would now open on October 14 and close on November 12, DSP Merrill Lynch Ltd, the arrangers to the offer informed the Bombay Stock Exchange here today.

RBI auction

Mumbai, Oct. 1: The Reserve Bank of India (RBI) has advanced the time for submission of bids for auctions of treasury bills and Government of India securities by two hours to 12.30 pm with effect from October 16. This was done with a view to make auction results available to the market well within the normal time of the negotiated dealing system.

Dunlop unit

Chennai, Oct. 1: A memorandum of settlement was inked today between the management of Dunlop India Limited and the employees union. It paved the way for resumption of operations shortly at the tyre plant in Ambattur, near here, which is under closure for over four years now.

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