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In early trading (10:05 am), TVS Electronics is quoting at Rs 47.45, up Rs 2.25. The stock price touched an intraday high of Rs 47.45 and an intraday low of Rs 47.25.

The company’s board has also approved transfer of 35.85% stake in TVS Finance to holding co. TVS Investment for Rs 14.84 cr. They struck down preferential apportioning of 36 lakh warrants exchangeable into equity at RS 48.50/sh to TVS Investment.

Patna: Bihar Chief Minister Nitish Kumar said that former Indian President A P J Abdul Kalam has responded favorably to the proposal to don the post of visitor at the purposed Nalanda International University.

Mr. Nitish broadened the offer when he met Abdul Kalam in New Delhi on Sunday.

He added that Mr. Kalam has accepted the offer, and ready to guide the administration in setting up the university.

Tiruchirapalli: CPI, a supporter of the ruling Democratic Progressive Alliance in Tamil Nadu, alleged that it would stoutly resist

Oil prices dipped on Monday carrying on its downtrend since last week on US demand worries amidst troubles in the subprime mortgage area.

New York’s main futures contract, light sweet crude for next month delivery went down 15 cents to USD 71.62 per barrel.

In London, the value of Brent North Sea crude for the coming month delivery came down 16 cents to settle at USD 70.23 a barrel.

For September delivery, natural gas also closed down USD 0.026 at USD 6.794 per million BTUs.

Surana Corporation has registered a significant jump in net profit for the quarter ended June 2007. The company declared a 49.07% profit growth to Rs 54.23 million from Rs 36.38 million in the corresponding period of the last year (2006).

The quarterly sales of the company slumped 38.35% to Rs 3,988.73 million as compared with the corresponding quarter, a year ago.

Operating margins augmented to 1.52% in the same quarter, which showed an increase of 26.50 basis points as against its previous quarter, a year ago.

On Dollar demand by Indian oil importers, the Indian Rupee closed flat against US currency.

The Indian unit that climbed up to 40.53 in the morning session gave up its advances on intense Dollar demand by Indian oil importers. Furthermore, foreign monetary funds also ramped up Dollar positions today further assisting the US currency in opposition to Rupee.