IPCL posts Rs 189cr net
Backed by better product prices and strong volume growth, Indian Petrochemicals Corporation has reported a huge increase in net profit at Rs 188.85 crore during the year ended March 31, 2000, compared to Rs 29.36 crore during the previous year. Net sales for the year jumped 30.35 per cent to Rs 4,060.04 crore, against Rs 3,114.81 crore during the previous year.

Commercial vehicle sales may fall
Commercial vehicle sales growth is expected to fall drastically to below 15 per cent in the current fiscal, against a handsome 33 per cent growth in the year ended March 2000. The segment is expected to be sluggish this year on account of the uniform sales tax policy being implemented in most states and the Euro-I emission norms taking effect.

M&M group firm picks stake in portal
Mahindra & Mahindra group firm Mahindra Information Technology Services has picked up a 10 per cent stake in an NGO portal indianngos.com for an undisclosed amount. The site offers a list of 4,000 NGOs, and is spread over 104 categories.

Tokyo bourse talks with NYSE
The Tokyo Stock Exchange said on Wednesday it had started discussions with the New York Stock Exchange, Euronext and other exchanges about forming a global equities market. The move underlines the exchange's determination not to be left out of a headlong rush towards 24-hour, round-the-world trading.

Satyam Computer bags FIPB nod
The Hyderabad-based Satyam Computer Services has received the Foreign Investment Promotion Board nod for divestment of up to 1.56 per cent of its holding of equity capital in its subsidiary Satyam Infoway Ltd. The disinvestment, representing over 3.47 lakh shares of Rs 10 each (each equivalent to four ADS), was in favour of Government of Singapore Investment Corporation Pte Ltd at the rate of USD 36 per ADS, the company said in a clarification to NSE.

`CTBT signing a matter of time'
Defence minister George Fernandes said on Wednesday that it is only a matter of time before India signs the Comprehensive Test Ban Treaty, a key element in nuclear non-proliferation efforts. WB to loan telecom agencies $62m World Bank has announced a $62-million loan to government telecoms agencies responsible for regulating and managing radio frequency in a market with over 50 telecoms service providers. The Telecommunications Sector Reform Technical Assistance Project will help India modernise government agencies responsible for the sector.