The Telegraph
Since 1st March, 1999
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Business Briefs

Sebi report on L&T soon

Mumbai, Feb. 19: The Securities and Exchange Board of India’s (Sebi) investigation report on Grasim Industries’ open offer for the acquisition of an additional 20 per cent stake in Larsen & Toubro (L&T) will be made public soon. “The report will be out very soon. I cannot specify an exact time frame. It will be submitted at an appropriate time. The investigative team is yet to submit the same to me,” Sebi chairman G. N. Bajpai said here today. Sebi’s decision to probe Grasim’s bid to acquire control in L&T follows an order of the Securities Appellate Tribunal that had stayed the open offer.

Drug prices

New Delhi, Feb. 19: The National Pharmaceutical Pricing Authority today increased prices of hypertension treatment tablets, Methyldopa, by 30 per cent while fixing prices for several diabetic medicines for the first time.


New Delhi, Feb. 19: The stand-off over operatorship of Panna-Mukta and Tapti oil and gas fields having been resolved, the board of British Gas group will visit India in the first week of March to boost its commitment to investing in the country.

UTI schemes

Mumbai, Feb. 19: Redemptions of Unit Trust of India (UTI) schemes were more than double than its sales in January 2003 at Rs 1,611 crore, according to data released by the Association of Mutual Funds in India (Amfi) here today. The sales for the country’s largest mutual fund player in the reporting month were at Rs 666 crore, while assets under management stood at Rs 44,541 crore.

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