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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (815)	2/22/2000 10:00:00 AM
From: Mohan Marette	Respond to of 1471

India Business Briefs: Tuesday, February 22 7:07 PM SGT India Aims at 8% Growth on Sustained Basis NEW DELHI, Feb 22 Asia Pulse - Finance minister Yashwant Sinha says the government is aiming at a seven to eight per cent GDP growth on a sustained basis for eradication of poverty and has sought enhanced Asian Development Bank (ADB) loans for the purpose. Sinha, during his meeting with an ADB delegation led by John Lockhart, welcomed the approval of US$625 million loan during the current year as against $250 million during 1998 and said the government was committed to second generation economic reforms for upliftment of the poor. Appreciating the economic development in India, Lockhart said the ADB was looking forward to a long and fruitful co-operation with India, said an official release. The group of ADB executive directors are on a 15-day visit to India and are scheduled to meet representatives of financial institutions and Non-government organisations. Sinha during his meeting also appreciated the bank's recently adopted Poverty Reduction Strategy and other initiatives such as programme lending, private sector development, environmental protection and anti-corruption issues. -PTI Wipro To List In US ""Some Day"" NEW DELHI (Dow Jones)--Azim Premji, chairman and 75% owner of Wipro Ltd. (P.WPO), said the company plans to list shares in the U.S. stock market "some day," the Press Trust of India said. Premji was queried by reporters after he received the JRD Tata Award from the All India Management Association Monday, the report said. Employees at Videsh Sanchar Nigam Ltd. (P.VSN), a state-owned telecommunications company, are seeking the help of Communications Minister Ram Vilas Paswan to overturn the Telecom Commission's decision against a proposed profit-sharing scheme, the Press Trust of India news agency said. Hindustan Motors (P.HMT) Power Products Division and the Allison Transmission division of General Motors Corp. (GM) have formed an alliance to bring Allison automatic transmissions to India, according to United News of India. Japan's Suzuki Motor Corp. (J.SUZ) President O. Suzuki will visit India Wednesday amidst reports that government may consider diluting its stake in the 50:50 joint venture - Maruti Udyog Ltd. - with the Japanese company, Press Trust of India reports. Netherlands-based Sun Chemical Group BV is making an open offer to the shareholders of Coates of India Ltd. (P.COA) to acquire up to 1.7 million shares, or 25% of the company's stock. It is offering 165 Indian rupees ($1=INR43.61) per share. U.K. company Coates Brothers PLC owns 51% of Coates Kotak Mahindra Mutual Fund is launching two new equity funds - K Tech and K MNC. K Tech will invest in technology companies, while K MNC will invest in select multinational companies. The funds open for subscription Thursday. The government of India has invited bids from global merchant bankers to act as advisors for the proposed sale of its stake in Hindustan Copper Ltd. (P.HIP), the state-owned copper smelting company. Petroleum Minister Ram Naik ruled out the merger of Indian Oil Corp. (P.IOL), Gas Authority of India Ltd. (P.GAI), and Oil & Natural Gas Corp. (P.ONG), saying the government would continue to have a majority stake in these firms in view of their crucial role in the oil industry. Inertia Industries Ltd., makers of Sandpiper beer, said it will soon close a deal to sell a majority stake to an unamed major European beer maker, according to Press Trust of India. State-owned domestic phone monopoly Mahanagar Telephone Nigam Ltd. (P.MTN) plans to appoint consultants for its proposed foray into electronic commerce (e-commerce), a top company official told Press Trust of India. "We are looking at several globally-established e-commerce companies to advise us on how to start e-commerce," S. Sundresan, Director (Finance) told PTI. -Dow Jones Newswires; 91-11-461-9426; 91-11-288-4211