Highlights

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COMPANIES

• Novartis shelves work on Dr Reddy’s anti-diabetic drug
• Chemplast Sanmar to demerge shipping arm
• Mumbai Auto Show gets off to lacklustre start
• Jindal Steel & Power records 105 per cent rise in net at Rs 60 crore
• Honda Siel power launches new Genset
• TPC may buy AES' 49 per cent in Orissa firm
• Dow Jones up 51 points at close
• Novartis steps up pressure, hikes its stake in Roche to 32.7 per cent
• Gail, GSPC may thrash out gas-swap agreement
• Tisco’s Q3 net jumps 8-fold
• Nestle scoops up Movenpick's ice-cream unit
• HCL Tech Q2 net down 36 per cent y/y
• India Cem plan to sell stake in Raasi, Vishaka hits block
• MG Rover to sell high-end cars here
• Colour Chem net up on cost cuts
• Indal net dips on lower sales
• Tata Power net rises on higher generation
• Tata Power shelves optic fibre plans
• Crisil upgrades IPCL debentures
• Bausch & Lomb seeks tie-up with LV Prasad
• ONGC not keen on Bhatinda refinery
• NEG Micon aims at Rs 300-crore turnover this fiscal

INTERNATIONAL BUSINESS

• SEC to settle case against ex-Xerox execs
• Prudential sales up, sees challenging '03
• Chinese tycoon shot dead

GENERAL

• EPC for 100 per cent EOUs becomes functional
• Budget may scrap 5 per cent surcharge on corp tax

BANKING AND FINANCE

• LIC to take 10 pc stake in IFCI asset rejig co
• SBI Mutual plans to increase asset base
• Aviva Life promoters infuse Rs 45-cr capital
• South Indian Bank’s net up 21 per cent to Rs 55 cr in April-Dec
• IFCI revamp set to be over by March
• BoR net 129 per cent up at Rs 18.4 cr
• Aviva Life gets into pensions
• IDBI Bank launches fund management product
• Good response to Central Bank adalat
• Bajaj Allianz, KVB to sign pact today

CAPITAL MARKET

• Bear domination
• Satyam tumbles on weak numbers
• UTI picks up over 5 pc stake in BEML
• HPCL volatile in 2002
• SEBI debars Hinduja TMT for 2 years
• Rupee at year-high; gilts fall