Financial Express - India's leading business newspaper from the Indian Express Group

Petroleum ministry drops stand on strategic status to oil sector

In a significant move, the petroleum ministry has finally come down from its earlier stand of conferring strategic status to the entire oil sector. It has now agreed to consider disinvestment in the 13 public sector oil companies on a case-to-case basis.

RIL stake in BSES at 26.68% post open offer

Reliance Industries has garnered an additional 11.86 per cent stake in BSES via the open offer, taking its holding to 26.68 per cent. The open offer had closed on July 16, 2000.

Tisco net profit zooms 309% to Rs 101 crore

The Tata Iron and Steel Company has posted a 309 per cent increase in net profit to Rs 101.40 crore for the quarter ended June 30, 2000, as against Rs 24.79 crore in the corresponding quarter in the previous year.

Political tremors rock markets, Sensex dives 119 points

Panic selling during the last hour of trading shaved off 119 points from the Sensex on Wednesday. Stocks nose dived after the news of three union ministers' resignation from the BJP-led government at the Centre percolated into the market.

ACC, GACL alliance will add to shareholder value: Tarun Das

ACC and Gujarat Ambuja Cements have decided to usher in a regime of greater interaction so as to improve the competitiveness of both companies on a sustained basis, ACC chairman Tarun Das told shareholders on Wednesday at the company's 64th annual general meeting.