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Corporate Economy Expressions Markets Leisure Wednesday, April 1, 1998   Indian Bank decides to bail out fund, pay Rs 48 crore to keep promise Indian Bank has decided to bail out Indbank Mutual Fund by meeting the latter's dividend payout obligations of Rs 48 crore to investors in the Ind Jyothi scheme. Indian Bank has decided to extend financial support through its asset management company (AMC) to enable it to keep its commitment of payment of assured returns to investors in the Ind Jyothi scheme.   ICICI to float 6 public issues in 1998-99 to raise Rs 3,000 crore Armed with an approval from Securities and Exchange Board of India (SEBI) for a Rs 3,000-crore umbrella debt programme, Industrial Credit & Investment Corporation of India (ICICI) is all set to kick off its resource mobilisation plan for the new fiscal with a Rs 500-crore public issue in May. The proposed debt issue will be the first tranche of the term lending institution's umbrella debt programme which was cleared by Sebi on March 25. SBI Caps to kick off new operational structure SBI Capital Markets will begin the new fiscal, 1998-99, under a new operational structure which will have a new entity called "relationship manager" taking up a pivotal role. The Mumbai corporate head office of the leading merchant bank in the country has been split into a regional office and a corporate office. The restructuring has been implemented following the recommendations made by Arthur Andersen. Maruti Udyog net profit rises 28% to Rs 651 crore Maruti Udyog (MUL) has reported a 28% jump in profit after tax (PAT) and a 41% increase in its net worth for 1997-98. According to MUL managing director RSSLN Bhaskarudu, the surge in profits was achieved through robust cost-cutting. In the current market, the company had pushed its dealers to the farthest extent to achieve sales.   IFB Industries shows Rs 62cr loss, high interest costs play the culprit IFB Industries, the engineering, automotive parts and home-appliances' firm, has reported a loss of Rs 61.6 crore for 18 months ended December 31, 1997, against a profit of Rs 26.58 crore in 12 months ended June 30, 1996. The company has blamed its poor show on high interest liability owing to investments in engineering, automation, ancillaries and home-appliances' products. Bharti Enterprises buys 15.8% shares of Bharti Telecom Bharti Enterprises, one of the promoter group companies of Bharti Telecom, has entered into an agreement to acquire 26,69,400 shares representing 15.8% of the paid-up capital of Bharti Telecom. This is subject to the approval of the Securities and Exchange Board of India (SEBI).   CORPORATE Indian Dyestuff may buy out Italian arm Transport Corporation may clinch Toyota logistics' deal ECONOMY Opinions divided on prospects of the banking industry Escrow mechanism runs into a roadblock EXPRESSIONS Crompton: Unsustainable rally Hardselling the euro concept to bankers MARKETS Mumbai bourse gearing up to launch index-based derivatives Reserve Bank redeems $500m March forward contracts LEISURE Balmer Lawrie faces up to new challenges How Candico is turning street-smart now