Firms put off debt plans as gilts flood market
The Centre's massive borrowing programme in the new fiscal is leading to a crowding-out effect in the debt market. Corporates, which were planning to kick off their borrowing programmes in the first month of the new financial year, are defering their plans as a combination of central and state government papers are raising over Rs 11,000 crore in April.
Cement industry records marginal fall in output
The growth rate of cement production was lower during 1997-98 than the previous year, but that of dispatches increased marginally, according to latest figures of the Cement Manufacturers' Association. For the financial year ended March 31, 1998, cement production at 75.44 million tonnes increased by 7.8% (8.45 per cent) over the last year's output of 69.98 million tonnes.
CLB spikes Times Guaranty plan to hike directors' pay
The Company Law Board (CLB) has shot down Times Guaranty's proposal to increase the remuneration package of two of its directors -- vice-chairman Raman Kaicker and chief executive officer Ramesh Kumar. The CLB put its foot down and said no to the proposal considering the company's financial health.
Dunlop set to get "sick" certificate from BIFR
Dunlop India is all set to obtain a "sick" certificate from the Board for Industrial & Financial Reconstruction (BIFR). The Industrial Development Bank of India (IDBI), which was appointed by the BIFR as Dunlop's operating agency and asked to examine its accounts, will be submitting its report within this month.
Decision on Bangalore airport plan soon: Kumar
Civil Aviation minister Ananth Kumar said yesterday that the BJP-led government will accord top priority to the Bangalore international airport project, which has been hanging fire for nearly two years.
Infosys Technologies net zooms 79% to Rs 60 crore
Infosys Technologies has registered a 79%jump in its net profit to Rs 60.36 crore for 1997-98. The company has recommended a final dividend of Rs 4.50 per share on a pro-rata basis. It had earlier paid an interim dividend of Rs 1.50 per share (15 per cent). Earnings per share worked out to Rs 37.69 against its previous Rs 21.02.
