Jalan to step down on Sept 6
Mumbai, Sept. 3: RBI governor Bimal Jalan is to step down on September 6 and hand over charge to Y. V. Reddy. Jalan has been nominated to the Rajya Sabha. Reddy (60) was RBI deputy governor in charge of monetary policy before taking over as executive director of International Monetary Fund. A career bureaucrat, he and Jalan had guided India safely through the Asian financial crisis in the late 1990s.
Mumbai, Sept. 3: Larsen & Toubro Ltd (L&T) will shortly file with the Bombay Stock Exchange its plans for a trust scheme for its employees to pick up 15 per cent stake of Grasim Industries Ltd.
Calcutta, Sept. 3: Cognizant Technology Solutions (CTS) expects to exceed its revenue guidance of $354 million in 2003. Almost 20 per cent of the earnings will be re-invested into business after maintaining an operating margin of 19 per cent.
Calcutta, Sept. 3: C. K. Dhanuka, director of Tezpore Tea Co Ltd, was today elected chairman of Indian Tea Association (ITA) for the year 2003-04. K. S. David, managing director of Goodricke Group, and P. T. Siganporia, deputy managing director of Tata Tea, have been elected as vice chairman and additional chairman respectively.
New Delhi, Sept. 3: Ranbaxy Laboratories Ltd today said it had received US Food and Drug Administrationís approval to manufacture and market anti-infective ofloxacin tablets 200 mg, 300 mg and 400 mg.