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Mahadev tops Sebi listMUMBAI: Mahadev Corporation, NEPC Micon, NEPC Agro Foods, Ready Foods, Motorol India and Western Paques top the list o...

Mahadev tops Sebi list
MUMBAI: Mahadev Corporation, NEPC Micon, NEPC Agro Foods, Ready Foods, Motorol India and Western Paques top the list of investor grievances with over 1000 pending complaints and a redressal level below 40 per cent.According to the Sebi, 2188 complaints were received against Mahadev Corporation upto April 15, with a redressal rate of seven per cent. NEPC Micon and NEPC Agro Foods registered 3641 and 1525 investor grievances as against a redressal rate of 30 per cent and 24 per cent, respectively.Pending complaints against Ready Foods, Motorol India and Western Paques were 1886, 2407 and 2017 respectively. During the fortnight, Sebi received 4267 grievances against 1093 companies, of these 2124 grievances were due to non-receipt of share certificates or bonus shares. During the same period, 3603 grievances, including those brought forward from previous periods were reported resolved by 355 companies.

NPPA prices
NEW DELHI: The National Pharmaceutical PricingAuthority has fixed the prices of three bulk drugs, Vitamin B2-5 phosphate, Vitamin B-1 HC 1 and Vitamin B1 Mononitrate. The maximum price of Vitamin B2-5 phosphate has been fixed at Rs 3,737 per kg, Vitamin B1 HC1 at Rs 1,191 per kg and Vitamin B1 Mononitrate at Rs 1,023 per kg. These prices too have been arrived at after taking into consideration the recommendations of BICP. The prices will become effective within 15 days of the notification in the official gazette.

Gilt price
MUMBAI: The Reserve Bank of India8217;s new price list effective from May 2 has triggered a fall in yields of long-dated securities gilt in the secondary market on Saturday. After the successful completion of the Rs 4,000-crore 10-year paper auction on Thursday, the RBI announced a new price list of dated securities bringing down yields at the longer end as compared to yields in the secondary market. At the shorter end of the market, the RBI sale list offers a higher yield.

Cane crushing
NEW DELHI: The governmenthas decided to give incentives for late cane crushing from today to July 31 to boost sugar production during the current season. All sugar mills would be entitled to a free sale quota of 72 per cent against the normal free sale quota of 60 per cent as a result of the incentive, an official press release said here today. Aggregate production of sugar this year was expected to go up considerably in view of the incentive, it added.

SmithKline
MUMBAI: World healthcare major, Smithkline Beecham, today signed a US dollar 2,00,000 contract with Hyderabad-based Indian Institute of Chemical Technology IICT for research in medicinal chemistry.

The agreement for the one-year project involves development and optimisation of selected solid phase chemistry synthesis reactions. According to a release here, the agreement signed in New Delhi today by the director of IICT, K V Raghavan, had been signed earlier by Smithkile Beecham Plc in London.

Lamp;T project
MUMBAI: A letter of confirmation that theLarsen and Toubro Limited intend to set up a state-of-the-art modern manufacturing facility with total investment of Rs 750 crore for manufacturing John Deere Series 5000 agricultural tractors at Sanaswadi near Pune was today handed over to the state chief secretary P Subramanyam. The state chief secretary assured all possible cooperation and coordination to the company. The tractor project envisages installing facilities to manufacture 30,000 tractors per annum under phase-1.

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Forex reserves up by 150 m
MUMBAI: Foreign exchange reserves of the Reserve Bank of India RBI grew by 150 million during the week ended April 25. The accretion to foreign exchange reserves was solely due to increase in foreign currency assets to 26,411 million, while assets in gold and SDRs held with the RBI remained static at 3,058 and 1 million respectively. Loans and advances to the central government rose by Rs 2,232 crore during the week ended April 10 to Rs 10,463 crore, according to the RBI weeklystatistical supplement. During the same period, the central bank8217;s advances to scheduled commercial banks also grew by Rs 67 crore, while total bank credit to the commercial sector increased marginally by 1.5 per cent to Rs 3,14,101 crore.

IMC, Chinese trade body sign pact
MUMBAI: The Indian Merchants8217; Chamber and China Council for the Promotion of International Trade have signed an agreement of co-operation in a bid to promote bilateral trade and economic relations between two countries. The agreement was signed recently by the IMC president Ram Gandhi and Yu Xiaosong, chairman of China Council for the Promotion of International Trade. Gandhi had recently led a high-level 17-member delegation to China representing a cross section of Indian industry such as engineering, automobiles, chemicals, paper, pharmaceuticals, textiles, shipping, entertainment electronics and commodity trade.