The 10-day-old Congress-NCP coalition appeared heading for a serious crisis on Wednesday with the NCP, unhappy over the jumbo expansion of the ministry, threatening to pull out its members if the Chief Minister failed to take "corrective measures".

Insurance bill today

The Insurance Regulatory and Development Authority bill to allow private companies to participate in the insurance market will be tabled in the Lok Sabha on Thursday. The bill recommends that new private companies have an initial capital of Rs 100 crore.

MCFL winding-up order

Mangalore Chemicals & Fertlisers Ltd is facing the prospects of closure with BIFR issuing a showcause notice for the winding up of the company.

Truckers, government to hold talks

Transport operators and the government are expected to hold talks late on Wednesday to help end the impasse over a nationwide strike, against an increase in diesel prices, which has entered its seventh day.

HC directive to ModiLuft

The Delhi high court has directed ModiLuft Ltd to deposit Rs 7 crore by December 31, 1999, failing which the company will be deemed to be wound up.

TTK Textiles, Sarah Lee in talks

TTK group is negotiating with Sarah Lee for offering a majority stake in the Tantex division of TTK Textiles Ltd which is being revived after a fresh infusion of capital.

Gold falls sharply

A sharp fall in both the precious metals marked trading on the bullion market here on Wednesday. Gold fell by Rs 110 on reports of fall of prices in the global markets. Silver slid Rs 55 due to lack of industrial demand.

ACC Q2 net crashes 86%

ACC has managed to stay in the black, as sale of investments in HDFC and ICICI enabled the firm generate Rs 13.61 crore during the second quarter of the current fiscal. Net profit during the July-September period fell by 86.76 per cent to Rs 1.67 crore, from Rs 12.62 crore in the corresponding period last year.

ICI India Q2 net soars 20% to Rs 18 cr

ICI India on Wednesday reported an 8.6 per cent growth in sales and a 20 per cent growth in its profit after tax for the quarter to September 30, 1999, over the corresponding period of 1998.

Bilt Q1 net profit vaults 345%

Ballarpur Industries has reported a 345-per cent growth in net profit to Rs 10.13 crore for the first quarter ended September 1999 over corresponding quarter's figure of Rs 2.97 crore.

Ceat H1 net up 18%

Ceat has posted a 17.76 per cent jump in net profit for the first half over last year primarily on account of a 20 per cent reduction in interest charges.

-- Compiled by Samuel Bodapaty