The Telegraph
Since 1st March, 1999
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Business Briefs

RIL scans Hind Petro books

New Delhi, Aug. 28: The due diligence process of Hindustan Petroleum Corp was kicked off today with Reliance Industries (RIL) visiting the data room set up here. The process began despite petroleum minister Ram Naik seeking deferment till the Supreme Court hears on September 1, a petition challenging the governmentís decision to privatise Hindustan Petroleum without taking Parliamentís approval, sources said.

Hutch IPO

Hyderabad, Aug. 28: Hutchison Essar may go for a public issue of shares sometime next year to raise money for consolidating its network and expansion, according to managing director Asim Ghosh.

Trai paper

New Delhi, Aug. 28: Trai today initiated consultation process on WiLL issues. This is in keeping with the telecom tribunalís directive to address the confusion in level playing field caused by the introduction of limited mobile services.

Sebi note

Mumbai, Aug. 28: The Securities and Exchange Board of India has asked exchanges to take stern action against brokers putting large number of orders from various locations than using terminals located at corporate office from where owners\directors operate.

Gilt auction

New Delhi, Aug. 28: The Reserve Bank of India will auction three government securities of varying maturities aiming to mop up a total of Rs 19,000 crore.

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