Saturday, September 11, 1999
Indian-owned US company roars through Wall Street
Riding on a sensational new development in cutting edge internet communication technology, a little known New Jersey company led by a family of first generation Indians wowed Wall Street on Thursday by gaining 224 per cent on its stock value in a single trading day.
Industrial growth up 5.4 pc in April-July
Helped by a resurgent consumer durables sector, industrial production in the country during the first four months of the current fiscal rose to 5.4 per cent compared to 4.2 per cent in the same period of last year.
VSNL may take $150 mn hit from ICO bankruptcy
Government--owned telecom major Videsh Sanchar Nigam Ltd is caught in a bind over its $ 150 million (around Rs 650 crore) investment in satellite phone service provider ICO Global Communications which has filed for bankruptcy in the United States.
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