The Financial Express -- Corporate

Thursday, July 17 1997

IndusInd Bank preferential offer bid spiked

The Reserve Bank has shot down IndusInd Bank's proposal to make a 1:2 rights issue at par. The bank will now approach the central bank with a fresh plan to make a 1:1 issue at 50% of the book-value.

Citicar's heart is Indian, limbs eclectic

Kinetic Engineering Ltd's 500 cc "Citicar"is slated to hit the roads by end of fiscal 1997-98. The car which is targeted at the middle class move from a two-wheeler to a car, is priced at Rs 1.25 lakh.

Bakeman's hives off confectionery unit

Bakeman's Industries has hived off its confectioneries division into a separate company called Candico (India) Ltd. The move will help the company focus its efforts on the rapidly-growing local confectionery market.

ONGC projects steep fall in profits

Voltas to sell thermostat unit to UK firm

Global giants in race for Dabhol equipment supply

Nalco Chemicals set to hike stake to 80% in arm

Index -- Gujarat SEB

Reliance Industries plans to source short-term FCNR(B) loans

Tube Investments net profit slips to Rs 21 crore

Aviators mulls flight planning services

Marketplace Briefings -- Aptech launches Gujarati course

Ispat NV initial float set to raise $360 million

ZEE Telefilms: problems aplenty

GIC Housing net slumps 10% to Rs 10 cr