Divestment of IPCL
The final version of the shareholder agreement for divesting 25 per cent stake in IPCL will be placed before the Cabinet for approval this week. Post-divestment, the Government will hand over management control of IPCL to the strategic partner. Meanwhile, a Warburg Dillon Read release on Monday said the Government had made no decision with respect to the bidding process, nor any reserve price was set for the sale of its stake in IPCL.

`Ambani is businessman of century'
Reliance group chairman Dhirubhai Ambani has been voted as the Indian businessman of the century by a worldwide multimedia poll conducted between August and October 1999 by Business Barons. The magazine hails Ambani as representing Asian business at its best.

Dabhol PPA to be reviewed
The Maharashtra government has formally communicated to the US-based energy major Enron International that it was in the process of examining "certain aspects" of the power purchase agreement signed for its Dabhol power project. However, "the ongoing work at dabhol power project will not be stopped," Chhagan Bhujbal said.

Infy at record high on Nasdaq
The Infosys ADRs touched a new high of $240 on the Nasdaq during early morning trades on Monday. At 10.30 am (ET), Infy was $14 (6.19 per cent) up on its Friday close of $226, thus giving a price-to-earning ratio of over 425 and a market cap of around $15.873 billion.

Glaxo zeroes in on e-business
British multinational Glaxo has zeroed in on two new business areas -e-business and a thrust on the over-the-counter pharmaceuticals segment - as part of the revamp of its sales and marketing functions in India. Analysts, however, do not expect immediate gains from these nascent new business areas.

Bajaj Auto sales up by 14.5% in Nov
Two-wheeler major Bajaj Auto, buoyed by robust growth in the scooterette segment, notched up a 14.5 per cent rise in sales in November.

Sensex up 122 points
A 122-point jump in the Sensex on Monday was supported, besides HLL, by the information technology, cement and banking stocks. Net FII investments for Friday surged by Rs 275 crore, with a turnover of Rs 825 crore.

Karnataka Agro seeks tieup with Tidco
Karnataka Agro Industrial Corporation is seeking a tie-up with Tamil Nadu Industrial Development Corporation for jointly addressing the potentials of floriculture marketing. Tidco is setting up a floriculture infrastructure park at Hosur in Tamil Nadu

Compiled by S Hariharan