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Corporate Economy Expressions Markets Leisure 31 December, 1997   ICICI in talks to sell part of core loan portfolio The Industrial Credit and Investment Corporation of India (ICICI) is in talks with banks and other financial institutions to sell a part of its infrastructure loan portfolio. ICICI's infrastructure portfolio primarily consists of long-term non-convertible debentures (NCDs). The sale of these NCDs will enable ICFAI to roll over the funds deployed in projects that have already gone on stream and finance new projects.   Birla Global Finance faces Rs 35-cr liability to meet redemption Birla Global Finance Limited will have to shell out Rs 35 crore in March 1998 to meet the redemption requirement of its debentures. Of the Rs 35 crore, Rs 26 crore is the aggregate redemption amount while the rest will go towards settlement of the outstanding interest due till March 1998. Essar Shipping net up at Rs 97.36 crore Essar Shipping Ltd (ESL) has posted a net profit of Rs 97.36 crore for the 18-month period ended September 30, 1997. ESL's total income during the period stood at Rs 794.39 crore, while gross profit was Rs 406.66 crore. The company also managed to reduce its finance charges from 32% of total income to 23%. Air India misses performance targets for H1 Air India (A-I) has fallen short of its targets for the first half of 1997-98. A-I missed its targets for the budgeted overall load factor by nearly 2% and for the budgeted revenue tonnes per km (RTKM) by nearly 5% for this period. These shortfalls ensure that A-I will post a net loss of nearly Rs 70 crore for the period as against the budgeted profit of Rs 18 crore.   Care rating product to assess term loans Credit Analysis & Research Ltd (Care) has launched a new rating product to assess term loans. The new product, christened Care Loan Ratings (CLR), is expected to facilitate easier access to institutional finance, particularly for mid-cap and smaller corporates which are not able to raise funds from the capital market. L&T footwear unit looks for new buyer The takeover of Larsen & Toubro's footwear division by the New Delhi-based Mesco group is in trouble. The latter is facing a problem in coughing up the balance Rs 3 crore of the total deal amount of Rs 3.70 crore, thereby forcing L&T to open negotiations with other parties.   vspace=5>