Friday, July 24, 1998
Tata Steel to focus on core business, to move out of cement segment
Driven by the need to focus on its core business of making steel, Tata Steel has decided to get out of the cement business. The steel major has started negotiations with several companies, and has sought the help of merchant bankers, to hive off its cement manufacturing facilities at Jojobera and Sonadih in Bihar.
Hyundai plans to rework Santro price estimates
Hyundai Motor India is likely to jack up the Rs 2.7-3.10 lakh price band for its 999 cc Santro slated to hit the roads in October '98. The small car positioned neatly between the Maruti 800 and the Zen in terms of pricing is likely to sport a tag in the range of Rs 2.9-3.35 lakh.
Hutchison Max promoters plan Rs 100 cr equity infusion
The promoters of Hutchison Max Telecom are planning a fresh infusion of Rs 100 crore equity shortly. The cellular venture has, in the meanwhile, tied up short-term loans worth Rs 200 in lieu of long-term project finance. The cellular-service provider also plans to raise long-term debt of about Rs 400 crore by the end of the year.
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