SAIL may hive off captive power units: The state-run Steel Authority of India has indicated that it might hive off its captive-power and oxygen units into joint ventures in a bid to consolidate its market share. Chairman Arvind Pande has said that the steel mogul will work out its new strategy by the time a new government takes office at the Centre.Kinetic Engineering car's export potential: An international consultant appointed by the Pune-based Kinetic Engineering has concluded that the company's planned 500cc mini car could tap the export markets, particularly those countries that boast of beach resorts. The firm is slated to unveil its sub-compact car later this year.
Mavoor Grasim faces raw-material crunch: Activity at the Kerala-based Mavoor Grasim Industries may come to a halt soon, analysts say. The company has long been crippled by an acute shortage of raw material with supplies from the government falling way short of the promised 2-lakh tonnes. The last straw that mightbreak its back could be the ban on the felling of eucalyptus trees.
Kalyanpur Cements issue plan hits snag: The Reserve Bank of India is still sitting pretty on a proposal made by the Calcutta-based Kalyanpur Cements to issue preferential shares to its overseas ally. It had submitted a plan some two years ago, seeking the central bank's go-ahead to issue the shares to a subsidiary of the Netherlands-based Holderbank BV.
Warning on euro: A Standard Chartered official in charge of the European Monetary Union project has urged corporates to pull up their socks and start preparing themselves to face the mid-continent with a unified currency. The euro currency will come into circulation on January 1 next year.
DEPB rates for hot-rolled coils: The union government plans to bring hot-rolled coils under the ambit of the duty-entitlement passbook scheme in a bid to cut down piled-up inventories of steel majors. A government official said on Wednesday that the entitlement rates on otherproducts in the segment would be stepped up in April.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
