Wednesday, June 16, 1999
Government to keep majority in oil firms
Union minister for petroleum and natural gas Vazhapadhy K Ramamurthy has categorically ruled out lowering government equity in any national oil company to below 51%. Ramamurthy's statement comes amidst reports of a Shell-Saudi Aramco bid for Hindustan Petroleum Corporation Ltd (HPCL), a company in which the Centre barely retains the controlling stake of 51%.
Wakeup call to business from Kargil
There may or may not be a full-fledged war over Pakistan's Kargil invasion. But Indian business had better prepare for one. The Indian army is fighting a tough battle under adverse conditions, but businessmen have not yet woken up to their national responsibilities--at least, not at the organised level--in this war.
Kargil keeps punters guessing, Sensex down 49.23 points
The Kargil factor kept punters guessing. During the last thirty minutes, bowing to the selling pressure from operators and institutions, the Bombay Stock Exchange Sensex shed another 49.23 points to close at 3901.73 points. On the NSE, the S&P CNX Nifty closed with a net loss of 6.46 points at 1120.50 points.
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