BUSINESS STANDARD - 1st October

SUBMITTED BY-

AYAN
CHETAN GANDHI
DEEPAK RAGHAV


EVEN – HANDED JUDGEMENT CALMS NERVES

Hindu mahasabha and sunni central board of wokfs to appeal in supreme court
All hindu personal law board to meet, all india ulema council to wait for outcome
Rashtriya swayam sewak sangh to draw a plans for grand temple at ayodhya site.
Vishwa hindu parishad says it won't escalate mobilization plan for construction of temple.
The verdict, however stayed all ownership claimed for 3 months to unable various parties to appeal in the supreme court. Disputed property should be equally divided among the three parties.


BANKS MAKE LOANS MORE EXPENSIVE

Five banks have increased there benchmark landing rate- or the base rate.
Government own lenders PUNJAB NATIONAL BANK, ALLAHBAD BANK, IDBI BANK have raised there base rate by half a percentage to 8.5%.
private sector AXIS BANK raised its base rate by 25 bps to 7.7% and foreign lendersSTANDARD CHARTED hyked it by 25 bps to 7.75%.




PIRAMAL HEALTHCARE CLOSES THANE PLANT

Piramal group company, would formaly close its vitamin facory in adjoining thane tomorrow.
The 160 employees have opted for voluntary retirement scheme, in reference to an offer for transfer to the companies unit in mahad or hyderabad.
They had taken over the plant in 1996-97 for rochi ltd.
The company will seek clearance for conversion of the land from industrial to residential- cum- commercial use.



FOOD INFLATION AT 16.44%, FEAR OF RATE HIKE LOOMS

The rate of wholesale food inflation rose to 16.44% for the week ended september 18, compare to 15.46% the previous rates mainly due to heavy rainfall and floods in some parts of the country resulting in temporary desruption in supply of essential food items.


CNG PRICE GOES UP IN DELHI

the new prices are Rs. 27.75/kg in delhi and 31/kg noida, greater noida and ghaziabad would be effective from the midnight of september 30- october 1


BARCLAYCARD SIGNS FIVE YEARS OUTSOURCING DEAL WITH FIRSTSOURCE



MUTHOOT FINANCE PLANS Rs.800-CR IPO

Muthoot finance limited plans to raise atleast 800 cr. from initial public offering.
The company will sell 51.5 million shares in an initial public offering, divesting 13.9% stake.
The sale will be managed by ICICI securities ltd, KOTAK MAHINDRA capital co and HDFC bank ltd