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Since 1st March, 1999
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Business Briefs

TCS goes on hiring binge

New Delhi, Nov. 27: Keeping its hiring plans for the current fiscal on track despite the slowdown, Tata Consultancy Services (TCS), a division of Tata Sons, plans to hire 1,700 more professionals in the next four months. “We will hire another 1,700 people by the end of March 31 as part of our earlier plans to recruit 3,500 people in the current fiscal”, a company spokesperson said. The company has so far recruited 1,800 people during the current financial year. It hired 3,420 people in the last fiscal.

Siemens plan

Mumbai, Nov. 27: The Siemens board will consider a proposal for buyback of the company’s equity shares at the next meeting scheduled on December 4, Siemens informed the Bombay Stock Exchange.

UTI Bank rates

Mumbai, Nov. 27: UTI Bank has reduced the floating interest rates for housing loans by 25 basis points with immediate effect. Meanwhile, State Bank of Mysore has reduced the prime lending rate on advances by 25 basis points from December 1.

Bank of Baroda

Mumbai, Nov. 27: Bank of Baroda (BoB) will contribute Rs 2.5 crore each as part of its 25 per cent share in the UTI Asset Management Company Pvt Ltd and UTI Trustee Company Ltd being set up to handle the net asset value-based schemes of UTI. Meanwhile, UTI has mobilised over Rs 3,500 crore during the July to November 26 period compared with total sales of Rs 2,609 crore during the entire 2001-02 fiscal.

Rupee declines

Mumbai, Nov. 27: The rupee declined sharply against the US currency today on fresh month-end dollar demand from corporates and importers. It closed at Rs 48.2400/2450 per dollar, a steep fall of three paise from Tuesday’s finish of Rs 48.2050/2150.

Sterlite Optical

Mumbai, Nov. 27: Sterlite Optical Technologies Ltd has posted a net loss of Rs 41.16 crore for the half year ended September 30 compared with a net profit of Rs 79.99 crore in same period of previous fiscal.

SAB renamed

New Delhi, Nov. 27: South African Breweries India Ltd (SAB) has changed its name to SABMiller India Ltd with immediate effect.

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