2006-03-05 layout - Neuron News: Menu styles (dls: 422)

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INDIAN BUSINESS NEWS

L&T not to buy, sell Satyam shares: Chairman
Engineering and construction firm Larsen & Toubro Ltd has no intention of either buying more shares or selling its stake in software services firm Satyam Computer Services Ltd, L&T's chairman said on Friday.

Mkts open lower; Satyam downfall continues
Bombay Stock Exchange's Sensex was at 9434.85, down 152.03 points and National Stock Exchange's Nifty was at 2857.10, down 63.30 points.

Rupee falls 42 paise against dollar in opening trade
At the Interbank Foreign Exchange (Forex) market, the domestic currency traded lower at 49.22 against the US currency, a fall of 42 paise over the previous close of 48.80/81 a dollar on Wednesday.

Pressure on Andhra govt to arrest Satyam's Raju
Sources say that police may file a suo motu case and is likely to arrest Satyam's disgraced former chief Ramalinga Raju today.

Satyam fraud - not one man show: KPMG
KPMG, which audits the accounts of IT majors like Infosys and Wipro, doubted the veracity of the confessional letter written by B Ramalinga Raju, saying the financial bungling cannot be done only by the head of the Hyderabad-based firm.

Did Raju own up only lesser of the two crimes?
There's speculation that Raju was siphoning off Satyam money to invest in other businesses and did intend to put it back in Satyam but possibly got into a jam.

Foreign book publishers buying over Indian cos, says study
A study done by the Federation of Indian Publishers shows that foreign companies have made negligible investment since 2000 and have simultaneously taken over Indian companies.

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