Sebi approves UTI’s first ETF
The Securities and Exchange Board of India has given its nod to the Unit Trust of India to launch the country’s first exchange traded fund -- the Sensex UTI Notional Depository Scheme . With this clearance, the UTI is expected to launch the scheme by the first week of July. The formal clearance will be announced this week.

DPC may challenge MERC’s jurisdiction
Enron-promoted Dabhol Power Company is likely to challenge the jurisdiction of state electricity regulatory Commission to settle a plethora of disputes, including "rescinding" of the PPA with Maharashtra State Electricity Board during the first hearing of the case, scheduled for May 29.

Badla financiers pulling out funds
The 130-year old badla market on the Bombay Stock Exchange is jumping during its last leg of survival before the trading system finally goes off from the BSE on July 2. The weighted average badla rate shot up to 12-13 per cent on Saturday from the earlier average of 8-9 per cent.

Principal Financial eyes stake in IDBI cos
In a bid to increase its Indian exposure, US-based Principal Financial group -- the world’s largest pension market player -- is eyeing a stake in IDBI Bank and IDBI Infotech.

Madras Fertilisers sell-off soon
Undeterred by the controversies surrounding various issues related to privatisation, the Centre soon expects to selloff Madras Fertilisers Ltd

IA regains market leader position
Indian Airlines has regained its position as the market leader in domestic air travel, taking a two per cent lead in seat factor over its nearest competitor, an airlines spokesman said here today.

DoD may retain CSFB as adviser for VSNL
Department of Disinvestment appears to be in favour of continuing with Credit Suisse First Boston as global advisor for privatisation of Videsh Sanchar Nigam (VSNL) despite it being named by Sebi in connection with share price manipulation.