Highlights

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COMPANIES

• Toyota Kirloskar plans to roll out small car
• Essar Shipping posts Rs 16-cr quarterly net
• SAIL chalks out strategy to achieve break-even
• Jharkhand govt likely to assist Nicco Group in incab revival
• Mobile users stranded in cell-WiLL transit jam
• Murugappa Group hikes Godavari Fertilisers stake to 12 per cent
• Tata Power buys 10 per cent stake in Power Trading
• Spectramind wins $10-m Microsoft BPO deal
• Airbus, Boeing submit bids for $2bn A-I order
• Madison bags Kotak Mahindra's media biz
• Promoters to sell 30 per cent in Crocodile India
• Kochi Refineries to expand capacity
• Reva to expand product range - Designs car for the handicapped
• ACC allots 39,600 shares under ESOP
• GAIL in pact with EIIL for LPG transportation
• BIFR moots Radico Khaitan, Abhishek Cements merger

INTERNATIONAL BUSINESS

• US clears biggest air code-share proposal
• Fiat planning to sell Fiat Avio
• GM Q4 net hits $1bn on strong sales, cost cuts
• Constellation to top world wine market via Aussie buy
• Moore to buy Wallace Comp for $1bn

GENERAL

• FM promises to make good revenue loss due to VAT
• Quantitative restrictions on garlic imports lifted
• Sensitive import items register 12 per cent growth in April-Nov 2002

BANKING AND FINANCE

• RBI finetunes forex norms for life firms
• Citi sets up e-platform for HR functions
• Aviva Life ups capital base to Rs 155 crore
• Sidbi teams up with US fund for $40-m VCF
• RBI asks banks to act on internal controls, MIS
• ICICI Bank cuts home loan rates
• Federal Bank Q3 profit at Rs 82 cr
• J&K Bank offers up to 15 per cent equity for sale
• SIDBI to run $40-m support fund for small enterprises
• PSB sends notice to 301 defaulters
• Andhra Bank to securitise home loans, return capital

CAPITAL MARKET

• Due diligence exercise 151 UTI-II sponsors begin search for consultants
• Sideways movement
• Cosmo Ferrites up on order talk
• Dow plunges 111 points at close
• SBI active again on Treasury gains, recovery prospects
• Matrix Lab in limelight
• Titan gains sheen as gold peaks
• Gilt volumes drop 91 pc in retail trading
• Rupee firm; gilts buoyant