Wednesday, June 2, 1999
Govt clears divestment of CMC stake to 51 pc
The government has decided to reduce its equity in the public sector Computer Maintenance Corporation (CMC) to 51% by allowing the company to raise an additional equity of Rs 9.85 crore from the market.
FIs convene meet for Essar FRN bail-out
The heads of major financial institutions are meeting in Mumbai today to consider a bail-out package for Essar Steel's floating rate note (FRN) issue which is coming for redemption in July.
Peugeot, Hero plan to make scooters
The Peugeot group of France is planning a re-entry into the Indian market, albeit this time for producing its range of premium scooters in a joint venture with the Pankaj Munjal-run Hero Motors.
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