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Sinhaspeak shaves 191 points off Sensex

The much-needed trigger for a sharp correction on the stock markets came in the form of finance minister Yashwant Sinha's tough talk on economic issues and the imposition of emergency in Pakistan. The Sensex nosedived 191.37 points on Friday.

Centre reshuffles 26 bureaucrats

As part of a bureaucratic reshuffle involving 26 officials, the Government on Friday appointed S Narayan as new petroleum and natural gas secretary and Ravindra Gupta as the civil aviation secretary.

NIIT net rises 32% to Rs 143 cr

Software major NIIT Ltd on Friday reported a 32% increase in net profit to Rs 143 crore for the year ended September 30 from last year's Rs 108 crore.

Mala-D maker's manufacturing licence cancelled

The Food and Drug Administration (FDA), Maharashtra, has cancelled the manufacturing licence of Eupharma Laboratories, one of the largest suppliers of oral contraceptive brands Mala-N and Mala-D.

IOC to buy Centre stake in Lubrizol India for Rs 145 cr

Indian Oil Corporation (IOC) will buy out the Centre's 60% stake in Lubrizol India at around Rs 1,200 per share which would translate into a outgo of approximately Rs 145 crore.

Non-Plan expenditure to be cut by 10%

The finance ministry has kicked off a expenditure control exercise by announcing that the Government will cut non-Plan expenditure by 10%. The expenditure cut is likely to result in a savings of Rs 2000 to Rs 2500 crore in the current financial year.