Satyam ADR set for listingMUMBAI: Satyam Infoway, the internet services subsidiary of Satyam Computer Services, will list its $ 57 million ADR issue on the Nasdaq Stock Market of the US on Tuesday or Wednesday. The ADR is expected to be priced at $ 16 to $ 18, merchant bankers said. The company is the third Indian company to list on an American bourse and the second to list on Nasdaq. The first was Infosys Technologies which listed on Nasdaq early this year. Its ADRs have since then appreciated nearly five times.Rhone-Poulenc profits fall 12.29 pcMUMBAI: Rhone-Poulenc India Ltd has reported a 12.29 per cent fall in net profit to Rs 121.3 crore from Rs 138.3 crore for the six month period ending September 30. The net sales of the company rose to Rs 1,162.6 crore from Rs 1,015.4 crore. The total income of the company during the period was higher at Rs 1195.8 crore from Rs 1046.9 crore during the period. Other income of the company rose to Rs 36.1 crore from Rs 34.3 crore. The net profitfor the second quarter has however jumped by 36.78 per cent to Rs 67.3 crore from Rs 49.2 crore in the corresponding period last year.MRTPC slaps curbs on Sterling ResortsCHENNAI: The Monopolies and Restrictive Trade Practices Commission has restrained Chennai-based timeshare company Sterling Resorts (I) Ltd from selling holiday units to the public. The order follows a complaint of unfair trade practice filed against the company by a Delhi-based lawyer who had sought the commission's order restraining the company from selling time shares to the public.De Beers cuts diamond stocksJOHANNESBURG: South African diamond giant De Beers on Monday said it would more than halve its multi-billion-dollar diamond stockpile in a move to boost shareholder value and take advantage of a buoyant gem market. De Beers, which controls around 70 per cent of the world market in rough stones, said it aimed to cut its working stockpile of diamonds held in London to between $1.5-2.0 billion from $4.6 billionat the end of last year.
