Nirma mulls open offer for Gujarat Heavy Chemicals
Karsanbhai Patel of Nirma Ltd is understood to be on the prowl for a takeover. Among other things, the detergents major is said to be considering making an open offer to acquire a substantial stake in Gujarat Heavy Chemicals Ltd (GHCL), a company owned by Sanjay Dalmia.
RBI directs Peerless to submit revival plan by month-end
The Reserve Bank of India (RBI) has directed Peerless General Finance & Investment Ltd, the country's largest residuary non-banking company (RNBC), to submit a turnaround strategy by the end of the month.
Public sector outlay up 35.7%; energy gains most
Public sector outlay for the Ninth Plan has been stepped up by 35.7 per cent in real terms to Rs 8,75,000 crore at 1996-97 prices. The approved Eighth Plan outlay was Rs 4,34,100 crore.
Suharto terms IMF reforms inadequate, mulls more measures
Indonesian president Suharto said on Sunday that the country's economic lifeline had begun to be compromised by a financial crisis and that reforms prescribed by the International Monetary Fund had not eased the situation.
PAL-Peugeot fate still mired in uncertainty
The fate of PAL-Peugeot still hangs in balance with operations at the Kalyan plant reaching a virtual crawl. Insiders admit that the going has been tough over the last three months ever since Peugeot called it quits.
