COMPANIES

• ICICI sells 7.88 per cent stake in venture fund to Compaq
• Hindustan Lever in fragrance venture with ICI
• Intelsat to invest $17m in signal interference system
• Satellite-based phone service may be relaunched by Iridium
• Sycamore to provide Tata Power optical network
• Xerox denies dilution of stake in Xerox Modicorp
• Dabur may acquire Boroline brand
• Tata Engineering to reduce dependence on HCVs
• Kotak Mahindra Finance to set up bank
• Hindustan Lever to phase out top Bestfoods brands
• Ambit takes stake in Salomon Smith India
• Zydus and Unichem in marketing agreement

GENERAL

• Madhavapura Bank may be liquidated
• Exim policy on used car imports to delight industry
• 8 drug combinations banned by government

CAPITAL MARKET

• IT raids unearth short selling evidence
• Sebi restrains new broker-directors from functioning
• Sensex gains 150 pts in two days

PEOPLE

• SmithKline Beecham appoints three directors
• ACC managing director reappointed
• Goodlass Nerolac MD joins Raymond
• RPG reorgnises top management