The Government on Monday deferred a decision on the floor price for steel imports. Monday's meeting was convened to either revise or scrap the floor prices imposed in December last year to protect domestic industry from cheaper imports of steel products, particularly hot-rolled coils.

Over 500 feared dead in train collision

More than 500 people are feared dead and 1,000 injured when two trains collided at Gaisal station, near New Jalpaiguri, early on Monday. The trains were the Assam-Awadh Express, bound for Guwahati, and the Delhi-bound Brahmaputra Mail.

Tankers, trucks off the road

The state government has decided not to bow to the pressure from the striking transporters, and has closed the doors for further talks with them. Over 50,000 tankers, trucks, tempo and private buses on Monday went off the road in response to a state-wide strike called by the Maharashtra Rajya Truck, Tempo, Bus Vahatuk Mahasangh.

FIPB clears Rs 175cr proposals

The Foreign Investment Promotion Board has allowed EI DuPont to retain its 100 per cent stake in its domestic subsidiary. DuPont's proposal was among the 39 proposals worth Rs 175 crore cleared by the board.

Goenkas, Khaitan quit Ceat Fin board

Ceat Financial Services chairman Sanjiv Goenka, brother Harsh Goenka and Deepak Khaitan have resigned from the board of the RP Goenka group company. Harsh Goenka and Khaitan resigned in April, along with Sanjiv.

IDMA petition

A division bench of the Mumbai high court on Monday urged the Government to file within four weeks its response to a petition filed by the Indian Drug Manufacturers Association challenging the amendments to the Patents Rules, 1972. The case will come up for final disposal on August 30.

345 firms' Q1 net up slightly

The aggregate net profit of 345 companies which declared their first quarter results during last week rose marginally by 3.9 per cent during April-June '99. The companies' net sales during the period rose by 8.8 per cent to Rs 41,960 crore.

ITC Agro Tech posts Rs 50 lakh loss

ITC Agro Tech said on Monday it had repeated its year-earlier firat-quarter performance and posted a net loss of Rs 50 lakh in the quarter ended June 30, 1999.

PAL dividend

Premier Automobiles has informed that given the company's temporary liquidity problem, the company is not able to pay dividend before the due date.

Sensex down 48 points

In listless trading on Monday on the BSE, the bellweather Sensex shed 48.16 points, to close its innings at 4494.18 points. The day's trading was marked by heavy offloading in the PSU counters, with MTNL showing the way.

PNB Q1 net up 14.8% to Rs 121.14 cr

Punjab National Bank said on Monday its net profit for the first quarter of the current fiscal had jumped 14.8 per cent to Rs 121.14 crore, from Rs 105.49 crore registered in the year-ago period.

--Compiled by S Hariharan