MSEB may default on payment
The Maharashtra State Electricity Board, reeling under a financial crisis, is unable to meet Thursday's deadline for payment of Rs 190 crore to Dabhol Power Company for purchase of power. MSEB has purchased 400 million units from the company for April.

Maruti April sales fall 4%
Maruti Udyog's sales dipped by over 4 per cent in April, despite a 27 per cent rise in passenger car sales. Maruti's sales in the first month of the current fiscal fell to 30,016 units, from 31,351 in the year-ago period.

De Beers to invest $400 m in mining
International diamond major De Beers of South Africa proposes to invest up to $400 million in exploration and mining of gold, silver and precious stones in India. Another group company De Beers Centenary (Mauritius) has been granted approval by the Foreign Investment Promotion Board to pick up 50 per cent stake in Hindustan Diamond Company.

BMW finalises sale of Land Rover
German automaker BMW on Wednesday said it has finalized the $2.7 billion sale of its Land Rover unit to Ford Motor Company. The first two-thirds of the amount are to be paid immediately and the final third of the payment for the luxury sport utility vehicle company will be made by 2005, BMW said.

Sankhya debuts with a bang
Sankhya Infotech was listed on the Bhubaneswar Stock Exchange on Tuesday at Rs 504. The listing is at a premium of more than 50 times the offer price. Only 200 shares were, however transacted.

BSES closes at upper circuit
The BSES scrip closed on the upper circuit on the bourses, two trading sessions after Reliance announced an open offer to pick up an additional 20 per cent in the firm. At the current price of Rs 282.20, the Reliance open offer price is at a discount of 17 per cent.

Nasdaq slide continues
US blue chips bounced up at the open on Wednesday but the Nasdaq market continued to slide. The Nasdaq composite index eased 42.84 points, a day after it lost nearly 200 points. Asian shares too tumbled on Tuesday pushing Tokyo prices to their lowest finish in almost a year.

PM dedicates Insat 3B to nation
Prime Minister Atal Bihari Vajpayee on Wednesday dedicated to the nation Insat 3B, the first in the third-generation Insat 3 series of satellites. Insat 3B, which was launched from the French Guyana on March 22 last, is intended for business, developmental and mobile communication.

Hinduja Finance
Hinduja Finance shareholders on Wednesday approved the company's mergers and acquisitions of the group firms in media, telecom and technology. The company's net worth after the mergers and acquisitions has risen to Rs 325.17 crore, from Rs 149.09 crore on March 31, 2000.