Tuesday, January 19, 1999
Tata Teleservices eyes Rs 1,200 crore debt mopup
Tata Teleservices Ltd, the Tata group telecom venture promoted by Tata Industries, expects to break even in 2,002, and proposes to raise over Rs 1,200 crore in debt and over Rs 1,350 crore in equity in the next five years.
Site damage stings Reliance show; net drops 7%
Reliance Industries (RIL), the country's largest petrochemicals company, has reported a rare slump in its bottomline despite its "other income" more than trebling in the third quarter. Reliance has recorded a 7.6% drop in net profit in the third quarter ended December 31, 1998, to Rs 402 crore from Rs 435 crore reported in the same period last year.
Nocil unveils VRS at petrochemicals division
The Arvind Mafatalal-group controlled Nocil has launched an attractive voluntary-retirement scheme (VRS) at its petrochemicals and polymer division before it is offically taken over by Shell Montell. The multinational is believed to have insisted on a leaner organisation as a pre-condition to the takeover.
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