Inflation rate rises to 3.01 per cent
The annual inflation rate, hitting a five-month high after a hike in diesel prices last month, is expected to rise further in the days to come, analysts said on Sunday. The Wholesale Price Index-based inflation rate rose to 3.01 per cent in the week ended November 6, from 2.78 per cent in the previous week.

Prasar Bharati Act amendment shelved
The Government has decided not to amend the Prasar Bharati Act for the moment, as amendments to the Act have to be approved by Rajya Sabha, in which it does not have a majority. The National Democratic Alliance, in its election manifesto, had called for a comprehensive re-look of the Act.

Insurance cover bydailies
MRTPC has ruled that free insurance cover to subscribers offered by newspapers cannot be held as an `unfair trade practice.' Closing an enquiry against three Malayalam dailies ordered earlier by the commission, a two-member bench said: "While it is true that the scheme has resulted in increasing the circulation of the newspapers in question, mere offer of an insurance cover to the subscribers free of charge cannot be held to be an unfair trade practice."

DoT plans Rs 2,100cr borrowings
DoT has proposed to go in for market borrowings worth Rs 2,100 crore through MTNL in the last quarter of the current fiscal. Mahanagar Telephone Nigam Ltd will issue seven-year bonds, which will have a call and put option after three years.

M&M may buy 9% in Gujarat Tractors
Automobile major Mahindra & Mahindra plans to pick an additional 9 per cent in the state-owned Gujarat Tractors to muster a majority on its board. With the initial 51 per cent stake, the Mahindras would have got onlyan equal share of board seats along with the state government.

Suit against Bajaj Auto
The Nagpur-based Sundeep Polymers Pvt Ltd has filed a civil suit against Bajaj Auto for recovery of Rs 79.64 crore as damages for alleged breach of contract for supply of plastic body panels for its scooters. Managing director Dileep Nevatia also charged Bajaj Auto chairman Rahul Bajaj with indulging in nepotism in his dealing with spare parts suppliers.

1.6-litre engine for Siena likely
Fiat Ind Auto, the joint venture between Fiat India Automobiles and Premier Auto, is exploring the option of sourcing larger-capacity petrol engines for the Siena and Uno. The Siena is at present fitted with a 1.3-litre engine, and the Uno with 1 litre.

Performance of 275 firms
The performance of 275 companies improved marginally during April-September '99. The aggregate sales of the companies rose by 12.2 per cent to Rs 46,176 crore during the period, from Rs 41,138 crore during April-September'98.

Principal to pay Rs 70 cr
The Principal Financial Group of the US is expected to shell out Rs 70 crore to acquire 50 per cent stake in IDBI's AMC IDBI Investment Management Company. The two players had signed an MoU in Mumbai on September 15 this year.

-- Compiled by S Hariharan