News Digest for the day

The Economic Times

Pref allotments break the roof, jump 80% to Rs 6,800 cr in '04
Deals struck at a discount; FIIs, private equity funds rush in.

Dipping $ may not hit software cos too hard
Use forward contracts as protective ring.

RBI okays BoI-UBI merger
Bank boards expected to consider the matter in January end.

The Financial Express

Nayak's term as UTI Bank CMD extended by 5 years
CMD post not to be split; capital raising plan not final.

GAIL slaps Rs 3,999 crore bill on Iffco
Iffco to take up matter with the ministry of petroleum and natural gas.

Prasar Bharti lukewarm on Indo-Pak cricket series
To look at oppurtunity costs; wants BCCI to fix the match dates first.

The Business Line

SocGen may buy stake in Bank of Rajasthan
Bank wants investors to shell out at least one and a half times of its market share price.

HLL seeks States' help to tackle counterfeiting
Asks state governments to set up task forces to check the menace.

No bubble build-up in stock markets, says Chidambaram
FM asserts markets driven by FII inflows.