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Friday, July 4 1997
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Bank stir likely to paralyse industry, affect forex market![[Details]](/icons/bullet.gif){kind=icon}
The nationwide strike called today by the United Forum of Bank Unions (UFBU) - representing nine bank unions - will cripple the industry apart from having a marginal impact on the money and forex markets. In view of the strike call, most banks have squared their positions in the money market.
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BG offers to step up acquisition price for Gujarat Gas
BG Plc has agreed to step up its acquisition price for Gujarat Gas Company Ltd if it is successful in sewing up long-term fuel arrangements. Accordingly, the offer price will be raised to Rs 301 a share from Rs 270 a share now.
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Orchid Chem draws up Rs 125cr expansion plan
Orchid Chemicals & Pharmaceuticals has chalked out a Rs 125-crore expansion-cum-diversification plan in a bid to consolidate its presence in the industry. The company's plans include a Rs 30-crore investment for the manufacture of sterile formulations and an entry into non-cephalosporin areas like the cardiovascular, anti-cancer and anti-viral segments.
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The Group
