Sebi launches probe into 700 scrips
New Delhi: The Securities and Exchange Board of India (Sebi) has launched a probe into the stock prices of 700-odd companies which had witnessedprice spurts similar to the K-10 scrips.

The latest move by Sebi follows a directive from the joint parliamentary committee (JPC) probing the irregularities in the stock market.

The prices of over 125 companies spurted by over 500 per cent during the bull run in 1999-2000.
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Sebi files criminal case against BPL, Videocon & Sterlite
Mumbai: The Securities & Exchange Board of India has filed criminal prosecution proceedings against 11 top officials, including some of the promoters of BPL, Videocon and Sterlite Industries, five months after the regulator had held these companies responsible for rigging share prices in June, 1998. The directors and officials against whom prosecution proceedings have been launched include TPG Nambiar, Ajit Nambiar and Rajeev Chandrasekhar of BPL, VN Dhoot of Videocon International and Anil Agarwal and Tarun Jain of Sterlite Industries. Sebi had barred BPL, Videocon International and Sterlite Industries from accessing the capital markets for four, three and two years, respectively, and put a life ban on Harshad Mehta from investing in stockmarkets on April 19 this year. Tisco, Essar, Sail, Jindal form alliance New Delhi: Steel majors, Tisco, Sail, Essar, Jindal Vijayanagar and Ispat have entered into a mega alliance under the aegis of the CII. The strategic move to come together on a single platform, comes days after the imposition of steep anti-dumping duties by the US on exports of certain steel items. The five companies have formed a trust under the chairmanship of Dr J J Irani, chairman, Tata Sons, with a provision to expand the trust when necessary. The Board will comprise of the CEOs of the member companies, an operational group consisting of working level executives, a full-time media relations person, one or two full-time economists and one support executive. The initial corpus for the activities of the alliance is Rs 5 crore. Tata Intl buys out German shoe brand Ornig New Delhi: Tata International, the global trading company of the Tata Group, has bought out German shoe brand, Ornig, a 35-year-old middle rung footwear brand with substantial presence in Germany and Austria. The leather division of Tata International has the capacity to make 4000 pairs every day. Ornig will make a foray into India after Tatas domestic shoe brand, Stryde, consolidates its presence in the Indian market. Ornig will be positioned as a premium niche product, priced at Rs 2,500 and upwards. Currently, the year-old Stryde is marketed as a mid-upper segment brand in the price range of Rs 800-2000. Telco seeks to sell castings in intl markets Mumbai:Tata Engineering has initiated talks with leading European automobile and auto component manufacturers to sell its castings in the international markets for the first time. Telco has commenced shipments of turbo-charger housing castings to US-based engineering giant Allied Honeywell. Besides, exports to engine maker Cummins are also expected to start shortly. Popeye dons Pantaloons Mumbai: The Pantaloon group has acquired the trademark and exclusive licensing rights for Popeye in India, Nepal, Bhutan and Bangladesh from the US-based King Features Syndicate for an annual royalty payment. The Mumbai-based textile group will now launch a Popeye childrenswear brand. Pantaloon will manufacture products such as t-shirts, trousers, bermudas, caps and other dress materials using the Popeye brand name.
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