Harshad's Calcutta flats sold: The three flats of the Harshad Mehta group in Lords building in Calcutta have been sold for Rs 1.25 crore by the custodian appointed under the special court for the 1992 securities scam. One flat was sold in August last year and two were handed over on Monday, thus completing the disposal of the big bull's immovable properties in Calcutta.

Rupee weakens: The rupee lost 10 paise against the greenback on Tuesday as it weakened to an intra-day low of 42.94/96. Towards the day's closing, some selling was seen in the market and the rupee recovered by three paise to 42.91/93.

Peugeot plansre-entry: The Peugeot group of France is planning a re-entry into the Indian market, albeit this time for producing its range of premium scooters in a joint venture with the Pankaj Munjal-run Hero Motors. Negotiations have already been initiated between the two partners and talks are at an advanced stage, sources close to both the companies said.

Daewoo cars sales up 300% in May: Riding on the huge demand for stripped-down variants of its 796cc Matiz, Daewoo Motors India has registered a 300 per cent surge in its car sales during May. The company had received orders in excess of 3,000 cars and has already delivered 2,050 cars, a statement said.

Eicher new models: Eicher Ltd plans to introduce a spate of new models in the two-wheeler and tractor segments in 1999-2000. A major export thrust is also on the anvil. In the motorcycle segment, bikes in the range of 535cc, 500cc and 350cc are in the offing.

Tata Honeywell zooms 106%: Instrumentation and automation equipment major TataHoneywell posted a 106 per cent jump in its net profit to Rs 11.11 crore for the year ended march 31, 1999. The board has recommended a 40 per cent (22.5 per cent) dividend on an equity capital of Rs 8.84 crore.

Sick pharma companies: The country's five public-sector pharmaceutical undertakings continue to languish in various stages of sickness, though the loss-making Bengal Chemicals & Pharmaceuticals ``is on the path of recovery,'' says the latest annual report of the ministry of chemicals and fertilisers. Employees of two of the sick PSUs Indian Drugs & Pharmaceuticals and Bengal Immunity are being paid from the non-plan assistance released by the government from time to time.

India Polyfibres revival: The Board for Industrial & Financial Reconstruction has asked Reliance Petro Products to infuse Rs 28.37 crore as equity in sick company India Polyfibres Ltd. India Polyfibres, part of RP Goenka group, had submitted a rehabilitation proposal to the BIFR, which involved induction of ReliancePetro as co-promoter of the company for infusion of funds.

Meltron divestment: The state cabinet has given an in-principle approval for divestment of the loss-making Meltron. The government has approved a bid submitted by R&S Bick, a subsidiary of the German-based Rhode & Schwarz, and Octopacy, Mumbai, to pick up 74 per cent in Meltron.

SAIL to raise Rs 3,000 cr: The state-owned SAIL is contemplating hitting the domestic debt market to raise Rs 3,000 crore for its annual expenditure and a new voluntary retirement scheme that started on Tuesday.

Sensex down 50.76 points: Rumours of Pakistani attacks on Kargil continued to take centrestage as brokers looked for ways to cover their short positions on the local bourses. The 30-share Sensex breached the crucial benchmark of 3,900 points to trade at an intra-day low of 3,885.30 points, before closing at 3,912.80 points, registering a net loss of 50.76 points.

Morgan Stanley units: Morgan Stanley Growth Fund was back with a bangon the bourses. With the NAV of the fund moving above par for most part of the current calendar, investors have latched on to the units. The market price of Morgan Stanley has shot up to Rs 8.20 in five trading sessions.

Housing demand: The comprehensive package of fiscal incentives for the housing sector has triggered a sudden spurt in demand for residential space. Hiranandani Constructions, Kanakia Builders, the Evershine group, and the Rahejas have seen at least a 25 per cent rise in demand for residential space, compared with the corresponding period last year.

Mediapersons predict hung parliament: Mediapersons predict a hung parliament after the Lok Sabha elections and see Prime Minister Atal Bihari Vajpayee and West Bengal Chief Minister Jyoti Basu as the two key leaders in the national scenario, while Congress president Sonia Gandhi figures in the fifth place, according to a recent study.