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Business Briefs

US stocks rally

New York, March 10: US stocks rallied on Tuesday after Citigroup said it was profitable in the first two months of 2009 and a key lawmaker said he expected a rule that made it harder to bet that a share’s price would fall would be reinstated soon. Financials led the way up after Citigroup’s CEO Vikram Pandit said the beleaguered bank was confident about its capital strength. Citigroup’s shares soared more than 37 per cent

DPSC meet

Calcutta, March 10: Only five bidders today attended a meeting called by Andrew Yule to acquire a stake in its group firm DPSC Ltd. Initially, 15 bidders had expressed interest to acquire a 57 per cent stake in DPSC. Srei Infrastructure Finance, JSW Energy, Patton International, CESC and Raghav Industries were present.

Drug prices

New Delhi, March 10: The NPPA has revised the rates of three bulk drugs, including chloroquine phosphate used against malaria. The regulator has reduced the price of chloroquine phosphate from Rs 871 per kg to Rs 861 and the price of chloroquine sulphate to Rs 1,230 from Rs 1,244.

BPO hope

New Delhi, March 10: Nasscom said it did not expect the protectionist measures taken by the US government to have any impact on the Indian IT-BPO industry.

Markets closed

Mumbai, March 10: The BSE, the NSE, forex and money markets were closed today because of Id-e-Milad-ul-Nabi.

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