Special alert sounded in Jammu and Kashmir
A special alert has been sounded all over Jammu and Kashmir and security further beefed up in the wake of militants gunning down 100 people in the state since last night. A high-level meeting also decided to boost measures to prevent recurrence of such incidents. Analysing the spurt in violence, the meeting attended by Governor GC Saxena, chief minister Farooq Abdullah and special secretary TR Kakkar noted that commonality in the incidents indicate involvement of Pakistan sponsored militant groups.Enron offers equity participation to IOC
Enron India Ltd has offered IndianOil Corporation (IOC) an equity participation in its Dabhol-based Metgas pipeline project for sourcing LNG, transmission and distribution to Maharashtra, Karnataka, Gujarat and Andhra Pradesh. IOC and Enron India signed a Memorandum of Understanding to develop cooperation in the fields of energy and communications, Enron sources said.
Position limits in ALBM segment
The broker-wise position limits prescribed by Sebi at the last meeting of the risk management group on July 13, 2000 has been implemented by the NSE in its ALBM segment effective from August 2 with the commencement of a new settlement, NSE managing director Ravi Narain said. The position limits per broker are the same for the modified carryforward system and the ALBM with an aggregate limit of Rs 40 crore and Rs 5 crore per scrip.
Sudershan Arora moves to Lupin
Lupin has roped in Dr Sudershan K Arora as president, Novel Chemical Entity research. Arora, who was with Ranbaxy Labs for three years, headed NCE research at the New Delhi-based company. Arora also played a pivotal role in zeroing in on Ranbaxy's two leading Investigational New Drug filings for BPH and bronchial asthma.
HPCL Q1 net down to Rs 200 crore
HPCL has registered a lower net profit at Rs 200.63 crore, down by 12.81 per cent for the quarter ended June 30, 2000 as compared to the same period previous year. The lower net profit was due to revision in delivery charges and LPG cylinder compensation scheme.
Alstom spins off energy business
Alstom Ltd has spun off the energy division into a joint venture with KoCoS Messtechnik of Germany. The new company, Alstom Energy Measurements & Systems Ltd, was incorporated on February 4, 2000, in Chennai.
RBI one-time settlement norms
In view of the time factor involved in recovering NPAs by banks through legal means, the RBI has come out with simplified non-discretionary and non-discriminatory norms for compromise settlement of bad debts up to Rs 5 crore.
Sensex rises 7 points in dull trade
Lacklustre trend continued for the third straight day on Tuesday. At the final count, the BSE Sensex closed 7.19 points up at 4260.88.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.