The Financial Express -- News

Wednesday, May 28 1997

Indo-Gulf seeks RBI nod for hedging on LME

Indo-Gulf Fertilisers & Chemicals (IGFCL), the AV Birla group company, has approached the Reserve Bank of India (RBI) for approval to hedge on the London Metal Exchange (LME) for its raw material requirements.

Infrastructure Bond Issue

Rourkela bleeds Rs 2 crore a day, leads SAIL into heavy losses

Steel Authority of India (SAIL), the country's primary steel producer, is heading for a financial crisis as the company is believed to have incurred losses of about Rs 250 crore. SAIL's real cause of worry is its German-built Rourkela plant (RSP) which has reported losses of Rs 2 crore per day.

VST embarks on arm's financial recast, mulls hive-off

VST has embarked on a major financial restructuring exercise of its 100% subsidiary VST Natural Products (NPL). VST NPL will raise money through a mix of external commercial borrowings (ECB) and domestic debt to pay back the Rs 20-odd crore long-term funds invested by VST in the project.

Zurich Insurance to increase stake in 20th Century Mutual Fu

Mahindra Ford to roll out `Freedom'