The Telegraph
Since 1st March, 1999
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Business Briefs

Mastek net falls to Rs 3 crore

Mumbai, Oct. 13: Mastek Ltd, an IT application outsourcing company, has posted a lower net profit at Rs 3.03 crore on a consolidated basis in the first quarter ended September 30, compared with Rs 15.25 crore registered during the same period last fiscal. Total income fell to Rs 91.39 crore during the quarter under review compared with Rs 91.63 crore year-on-year, Mastek said in a release today.

SCI selloff

Mumbai, Oct. 13: The Mumbai high court today adjourned till November 10 a petition challenging the sale of 51 per cent equity in Shipping Corporation of India by the government and ministry of disinvestment in favour of a strategic partner. It has also ordered status quo until then.

WiLL entry fee

New Delhi, Oct. 13: Basic telecom operators have approached the Supreme Court against levying of additional entry fee for WiLL mobile services as recommended by TDSAT.

Tata Fin stake

Mumbai, Oct. 13: Sebi has exempted Tata Industries and Tata Sons Ltd from making an open offer while acquiring 11.30 crore equity shares of Tata Finance at Rs 26.53 per share. The acquirers have been directed to complete the proposed acquisition within 30 days of the order and file a status report with Sebi within 15 days thereafter.

Daewoo probe

New Delhi, Oct. 13: Troubled carmaker Daewoo Motors India has been referred to the newly set up Serious Frauds Investigation Office due to financial mismanagement involving about Rs 1,000 crore.

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