Sensex up 7 points: Shares on the Bombay Stock Exchange came to a sleepy finish on Tuesday in a lacklustre trading session as cautious players refrained from making commitments, dealers said. The benchmark BSE 30-Share Sensitive Index closed its Tuesdays innings at 3119.54, up 6.8 points from its Mondays close.

LIC MF complaints against PCS: LIC Mutual Fund has lodged a complaint with SEBI against PCS, the share registrar to its Dhanvarsha 4 scheme, for alleged delays in disbursing the proceeds arising out of redemption of the scheme. The fund has sought delicensing of the registrar, said the asset-management companys CEO RG Sharma.

BSE asked to stop trades inWestern India firms: The enforcement directorate has asked the Bombay and National Stock Exchanges to stop all transactions in a portion of the equity shares of the Nandan Gadgil-controlled Western India group companies. The directive follows alleged violation of section 19 (1) (b) of the Foreign Exchange Regulation Act by Nandan Gadgil and a Bangalore-based group company. Finance-ministry sources say about 32,52,300 shares of the group were pledged by Nandan Gadgil without the prior approval of the RBI.

Federal Bank row fizzles out: The crisis in the Kerala-based Federal Bank over ICICIs request for an additional berth in the banks board has fizzled out. The banks board, which met in Kochi on Tuesday, unanimously endorsed a resolution to appoint two new members to the eighth and ninth vacancies in the board.

LIC MF launches Dhanavarsha (13): LIC Mutual Fund has launched another five-year close-ended fund with a lock-in period of one year and an assured income of 12.5 per cent per annum,or 13.25 per cent cumulative payable yearly. While income is assured for all five years, returns would be specified one year at a time, thus allowing for rates to move with the market, chief executive RG Sharma said.

Mumbai Port Trust plans tariff hikes: After a gap of about 20 years, the Mumbai Port Trust has proposed an increase in wharfage and demurrage charges of around 100 per cent. It has also recommended a hike in rates charged at bunders, which includes the licence fees, pier dues and hard fees. A port official said the low rates were unaffordable, as there were no fresh investments made by the port.

Wadhavan port project cost rises: Escalating project costs may sound the deathknell for P&O Ports Wadhavan port project. Under pressure from environmentalists, the project cost has now risen to $950 million, from $650 million, estimated more than a year ago.