Paswan warning on rural phone targets
Union Telecommunications Minister Ram Vilas Paswan has issued a stern warning to private telecom operators that their licences would be discontinued unless they met their target of providing rural telephony. Players like Bharti Telecom and Shyam Telecom have not met their target of providing eight per cent of total rural connectivity.

UTI upbeat on bourses
The Unit Trust of India said on Thursday that it would step up buying in the capital markets, particularly in new economy shares, as it felt the worst days for the stock market are over. ``The bloodbath is over. The market has bottomed out and it will soon pick up,'' UTI chairman PS Subramanyam told PTI in New Delhi.

Road transport stir from Nov 3
The All-India Motor Congress (AIMC) has threatened to go on an indefinite country-wide strike from November 3 if there was no rollback in the recent hike in petroleum products. AIMC president OP Agarwal said by increasing diesel prices by almost 66 per cent within a year, the government has pushed the road transport sector into a severe crisis.

Process against `KBC' producers stayed
In an ad-interim order, the Mumbai high court on Thursday stayed the process issued by a local court on September 8 against Star Television, News Television India Ltd, Rupert Murdoch, Chief of New Corporation, Producer Sidharth Basu and others for the telecast of `Kaun Banega Crorepati'.

TEC Q2 net up 8% to Rs 138 cr
Tata Electric Companies -- The Tata Power Company, The Andhra Valley Power Supply Company and Tata Hydro Electric Power Supply Company -- have together reported an 8 per cent rise in net profit to Rs 138.25 crore in the second quarter ended September 2000. The consolidated net profit of the companies in the corresponding quarter last year stood at Rs 127.91 crore.

Hughes Software posts Rs 13cr net
Hughes Software Systems has reported a post-tax profit of Rs 13.14 crore and total income of Rs 47.65 crore for the quarter ended September 30, 2000. The company's profit before tax has gone up by 96 per cent to Rs 14.38 crore (Rs 7.33 crore).

Sensex gains 109 pts
After a long gap, bulls sprung to action on the BSE with across-the-counter buying by FIIs and operators. This lifted the Sensex by 109 points. The day started on a weak note as stocks from the software sector opened at lower levels from Wednesday closing. But value buying in most of the front counter led by Satyam Computers, Infosys, Wipro and NIIT lifted the sentiment in the later part of the day.

Refco to foray into MFs, turn into FII
US-based brokerage firm, Refco, is planning to float a mutual fund subsidiary in India and register itself as a FII. The company is thinking of launching the fund once it is established in the e-broking business in India.

Sebi chief for takeover code review
Sebi chairman DR Mehta has said that the Bhagwati committee on takeover code would be looking into the recent controversy into the attempts by Arun Bajoria to acquire majority stake in Bombay Dyeing.