Saturday, July 4, 1998
Apollo Tyres lines up Rs 50 crore debt plan to buy back shares
Apollo Tyres, the Raunaq Singh-controlled tyre major, has chalked out plans to mop up debts worth Rs 50 crore to fund share buy-back, so as to take the plunge as soon as the provision is introduced. The company is gearing up to buy back shares to take advantage of a proposed amendment in the Companies Act.
Tata Electric, BSES must expand in phases: panel
The Tata Electric Companies (TEC) and BSES should execute their expansion plans in phases, according to the Kukde committee which examined the need for these projects in the backdrop of future demand for electricity in Maharashtra. The state government, with whom the matter is pending for the past eight months or so, is yet to take a decision.
CMC unveils insurance-specific software package
The public sector CMC has launched the country's first insurance-application software package, Genisys. The package has been selected by the New India Assurance Company for its enterprise-wide deployment. Genisys is an integrated application software to suite the requirements of the divisional and branch offices of insurance firms.
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