The Financial Express -- Corporate

Wednesday, November 12 1997

FIs force Modern group to Rs 220-crore defer rights issue plan

The Modern group's proposed Rs 1,700-crore purified terepthalic acid (PTA) project has hit a stumbling block as financial institutions (FIs) have refused to provide standby facility for a Rs 220-crore rights issue. The issue was to be raised by group company Modern Threads, which is promoting the PTA project. The rights issue, originally slated to hit the market in November or December, now stands deferred indefinitely.

Bajaj Auto eyes 48% market share by 2000

Bajaj Auto Ltd is set to grasp a total market share of over 48% by 1999-2000, after its new products, on which it has pinned its hopes to improve its market standing, roll out of its third plant at Chakan by December 1998. Bajaj Auto had expected to begin construction on the plant by July 1997, which will now begin in January 1998, after the Maharashtra government cleared the acquisition of 150 acres of land for its total requirement of 200 acres.

Qualcomm mulls local manufacturing base

Qualcomm Inc has unveiled big investment plans for India even as its CDMA (Code Division Multiple Access) technology has stirred up a revolution in the telecom technology world over. The company plans to set up a manufacturing base and an HRD centre in India along side joint venture projects for taking up basic and Internet services and working out a long term arrangement with the DoT for wireless local loop application.

Essar Oil, RPL to hold 13% a piece in Petronet pipeline

J&N barred from issuing fresh equity

L&T mulls $100-million Yankee bonds

Bank of India first-half net profit jumps 5% to Rs 221 crore

Williamson Magor to merge two investment subsidiaries with self

Crompton Greaves signs pact with NEC

German group launches hotel services

Baskin Robbins likely to break even by year-end

Cost-cutting shores up Goetze India's H1 bottomline

The Index -- MRF

Payoff scandal may affect profit

Daimler takes hit after Merc A-Class fails flip