Tuesday, May 11, 1999
Centre lets IA tap market, to inject Rs 325 cr
In a major step towards privatisation of Indian Airlines (IA), the Government has cleared an equity injection of Rs 325 crore and permitted the domestic carrier to mobilise funds from the capital market through initial public offering (IPO) or any other modality available for restructuring.
Bulls rule roost; Sensex zooms 112 points on Day 9
Market players positioned themselves to scale the 4,000-point mark, backed by a 112-point rise in the Sensex on Monday and a fresh bout of aggressive buying by foreign institutional investors. As on Monday, the latest FII score-card read over Rs 257 cr, which is perhaps the largest amount invested by them in a single day in recent years.
Tatas to don Net service provider mantle
The Tatas are set to make their entry as an Internet service provider (ISP) soon. Bombay House is currently working on plans to foray into the segment, with its basic telephony services arm, Tata Teleservies (TTL), assisting the group in its effort to take a plunge into the fast-growing segment.
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