The annual rate of inflation fell to 3.86 per cent for the week ended May 29, despite a marginal increase in the wholesale price index. The rate of increase in prices fell by 0.09 percentage points to 3.86 per cent compared with 3.95 per cent last week and 6.89 per cent a year ago.

Reliance debentures

The board of Reliance Industries has decided to exercise the option on early redemption of its H-series debentures, aggregating Rs 341.54 crore, which will take total redemptions during the current fiscal to a whopping Rs 953 crore.

Corporates net falls

The aggregate net profit of 78 companies that declared their yearly results during last week declined by 65.6 per cent during 1998-99. This is probably due to the significant fall in PAT of companies like Mather & Platt, KJMC Financial Services and Malwa Cotton.

Essar Steel FRN

FIs have ruled out taking fresh exposure in Essar Steel for bailing out its $250-million floating ratenotes, which are to be redeemed on July 13. Essar Steel had approached FIs for either issuing fresh funds or standing guarantee to a foreign currency loan.

ICICI may cut safety bond rates

ICICI may reduce the interest rates on its next issue of safety bonds in line with the general regime of reducing interest rates. It is planning to raise around Rs 20,000 crore this year through the issue of safety bonds and other resources.

IOC bonus share issue

Indian Oil is seeking government nod for a bonus issue before the September polls for increasing the liquidity and value of its stock in the capital market before considering part disinvestment of government equity in the company by November-December.

Daewoo market share

Daewoo Motors India has claimed it will overtake the domestic auto leader Maruti Udyog's number one position in the next five years. DMIL has a car market share of about 2.4 per cent against MUL's 75 per cent.

CDSL board

The promoter banks of CDSL haveensured that they would each have a permanent board nominee. A decision to this effect was taken by the depository's board at its AGM on Thursday.

FDI in urban infrastructure

CII has urged the government to facilitate involvement of the private sector in urban infrastructure. Infrastructure and housing sectors have the capacity to demonstrate significant growth and efforts must be made to realise the potential, it said.

Shellfire greets Vajpayee

Prime Minister AB Vajpayee was on Sunday greeted with Pakistani shells on his arrival in Kargil for an on-the-spot assessment of the conflict.