Bizbits

IDBI sells Aftek Infosys stake
MUMBAI: Industrial Development Bank of India IDBI has sold 900,000 shares of Aftek Infosys to the promoters of the company for Rs 43 crore, at the rate of Rs 477.75 per share. On the receipt of the entire amount of sale consideration on November 30, IDBI has now delivered the aforesaid shares to the purchasers, an IDBI statement said here today.

Jamp;K Bank opens Navi Mumbai branch
MUMBAI: Jammu amp; Kashmir Bank Ltd, a leading commercial bank, opened a fully computerised Y2K compliant branch at Vashi, Navi Mumbai, Maharashtra. This is the 398th branch of the bank and the 9th in Maharashtra. Vilasrao Deshmukh, chief Minister of Maharashtra, inaugurated the bank while Dr Farooq Abdullah, chief Minister of Jammu and Kashmir presided over the function.

Gold drops to new two-month low
LONDON: GOLD dropped below support at 280.00 a troy ounce on Friday, its lowest level since September 24 this year, as negative sentiment led to sustained selling in themarket. Gold has now shed around 15 from the opening level of294.50 at the start of the week. The price weakness began in the wake of Britain8217;s disappointing third gold auction on Monday.

Govt permits GIC to form healthcare co
NEW DELHI: The government has permitted in principal the state-owned General Insurance Corporation to form a management services company for introduction of managed health care in India. quot;The company is likely to be set up by the gic in the next financial year,quot; minister of state for finance Bala Saheb Vikhe Patil said.