Market players set the stage for the Sensex to scale its all-time high on Tuesday, with the bourses witnessing frenzied buying. While the Sensex gained 62.32 points to close at 4792.10 points, its all-time high closing, the S&P CNX Nifty also closed at its all-time high of 1382.65 points.

UB moves court

Vijay Mallya's United Breweries has filed a petition in the Delhi high court against the excise department for banning the sale of its international beer brand `Kingfisher' in the capital. According to an official, the department has not renewed the licence from July onwards, saying Kingfisher was advertised on television in violation of the excise laws governing the capital.

JVSL to rope in vendors as partners

Jindal Vijayanagar Steel, which is staring at a Rs 1,100-crore cost overrun, will offer about 5-8 per cent equity stake to domestic vendors and equipment suppliers to bridge the gap. The funds, once approved by the institutions, will bemopped up through a private placement during the current fiscal.

HLL programme

Hindustan Lever has launched a nationwide community dental health programme which is being endorsed by `Pepsodent' in association with the Indian Medical Association. The three-year IMA-Pepsodent initiative will target over 100 million people across the country, primarily in rural India.

CLB nod for Philips

The Company Law Board has permitted Philips India to sell its passive components division in Loni near Pune to BC Components. The proposed sale, despite having being cleared by shareholders earlier, was challenged by a section of employee-shareholders. The move to sell the passive components was a worldwide decision taken by the Dutch parent.

Hind Copper gets Rs 75cr IDBI loan

The public-sector copper major Hindustan Copper received loans worth Rs 75 crore from IDBI last week to help the company tide over its financial crisis. The company will utilise this loan primarily for clearing itsinternational liabilities and liabilities on redemption of earlier bonds.

Pfizer scrip weakens

The Pfizer scrip on Tuesday displayed signs of morning sickness as marketmen turned jittery after the FIPB cleared Pfizer Inc's proposal to set up a 100 per cent subsidiary in India. The Pfizer scrip, which opened at Rs 1,140, moved down to touch an intra-day low of Rs 1081, before recovering to close at Rs 1,100 on the BSE, Rs 75 lower than the previous day's close.

RBI auction

The Reserve Bank on Tuesday announced the auction of the 10-year 11.99 per cent 2009 bond slated for August 27 for a notified amount of Rs 2,500 crore. With the 10-year bond auction, the Centre will complete 77 per cent of its Rs 83,571-crore gross borrowing target for the current fiscal.

Capital goods sector

The domestic capital goods manufacturing industry for the oil and gas sector has requested the finance ministry to defer any decision on the crucial issue of the import-tariff structure, saying the movewould violate the election code of conduct. The industry is against the Centre's proposed move to permit duty-free imports of capital goods for ONGC's non-Nelp offshore and onshore project blocks, awarded before April 1 this year.

Compiled by S Hariharan