The Indian Express The Financial Express Latest News Elections '98 Express Investment Week Market Indicators Screen Express Computers Travel & Tourism Advertisers Forum Daily Horoscope Information Technology Drumbeat: Ad Buzzaar Astrosurf Gems &Jewellery Banking Update Career India Business Forum Match Maker Express Properties

Corporate Economy Expressions Markets Leisure 14 January 1998   Deutsche Morgan offers to buy 7% of Ranbaxy promoter shares at Rs 700 Investment banker Deutsche Morgan Grenfell has evinced an interest in picking up Ranbaxy promoter Parvinder Singh's offer to sell 35 lakh equity shares in the company. This stake is part of Singh's promoter holdings and amounts to seven per cent of the company's share capital.   IDBI casts net for buyer to bail out Orient Syntex's yarn unit The Industrial Development Bank of India (IDBI) is scouting for a buyer for Orient Syntex's synthetic blended yarn plant at Yavatmal, Maharashtra, following a directive from the Board for Industrial Finance & Reconstruction (BIFR). The company came under the BIFR net in August 1997. Godrej and Boyce hives off storage-solutions business The 700-crore Godrej and Boyce Manufacturing Ltd has hived off its storage solutions business into a separate venture in asssociation with the Belgium-based Stow Storage Solutions Ltd. The new company has been christened Godrej Stow Storage Solutions Ltd. JL Morison transfers medical-distribution business to Smith & Nephew Medical JL Morison India, maker of the Nivea brand of skin-care cosmetics, has transferred its medical-distribution business to Smith & Nephew Medical (India) Ltd, as part of the company's strategy to get out of non-core areas.   Times Guarantee seeks Reserve Bank clearance to return fixed deposits Times Guaranty Financials (TGFL) has sought the Reserve Bank of India's permission to return funds to fixed deposit holders. TGFL is the first non-banking finance company to initiate the move to return depositors' monies after the Reserve Bank of India issued new regulatory norms for NBFCs on January 2, 1998. Mecon named consultant for Nilachal Ispat's Duburi plant revamp The Ranchi-based public sector Metallurgical & Engineering Consultants Ltd (Mecon) has signed a contract on January 7 with Nilachal Ispat Nigam Ltd to undertake the consultancy for installation of a 1.1mt a year iron and steel plant at Duburi in Orissa with an investment of Rs 1510 crore.     Tamilnad Mercantile board directors "disqualify" Essar group nominee   Hyundai Motor to source diesel engines from Peugeot   Peregrine's Singapore wing seen in trouble   Tata-Bell ECB sails through amid market turbulence   GEC Alsthom Triveni is now GEC Alsthom Steam Turbine   Financial Briefing   Corporate Briefing   Cibatul forges agreement with Finnish firm   Crisil assigns P1-plus rating to Indal's Rs 150cr debt plan   Marketplace Briefing   Meltron staff up in arms over handover   Iisco workers sore over trade union's Burdwan strike call   Peregrine chief turns tables on Hong Kong   Merc sets sights on a larger slice of local market   Steyr India to set up unit in Pune   Delhi to be largest export base   Hyundai to tap capital market once profits start flowing in   Mahindra Ford to display new models   ITC Classic Finance poll   Executive Briefing   Indus Entrepreneurs plans to set up three regional chapters   Airbus Industrie to step up local presence   MTNL's cellular entry stalled till February 11   Aban Lloyd seeks fuel quality guarantee from Indian Oil