Hutti Gold Mines declared lock-out: The country's main gold-producing company, Hutti Gold Mines Company Ltd has declared an ``indefinite lock-out'' owing to worldwide turmoil in gold prices, devaluation of the rupee against the dollar coupled with the workers' strike. As a result, the company has suffered a loss of Rs 80 lakh in November 1997. The following month, gold prices touched an eight-and-half-year low.IFCI relaxes funding norms for BOT road projects: The IFCI will accept collaterals with adequate margins as security for loans sanctioned to fund Built-Operate-Transfer road projects. The institution has made this decision after it felt it could not fund two road projects in Gujarat and Madhya Pradesh under the conventional framework.
HLL defers board meeting: Hindustan Lever will hold its board meeting on February 12, 1998, to adopt the accounts and recommend dividend for the fiscal ended December 31, 1997, instead of the earlier-slated February 3. As Unilever Plc is declaringits annual results on February 10, 1998, announcing HLL's results prior to the parent's, will violate the Londonn Stock Exchange's listing requirements, where the holding company is listed, an HLL release says.
Polysindo rules out Best & Crompton delisting: The ailing Best & Crompton will not be delisted from the stock exchanges and is, instead, slated to come out with a public issue, Indonesian conglomerate Polysindo, which recently took over the company, has said. Company sources said Polysindo proposed to hike its paid-up capital by Rs 30 crore.
ATCs to resort to `direct action': Air-travel woes will continue to haunt passengers from Friday midnight what with ATCs determined to resort to `direct action' for a hike in their perks. The ATC Guild (western region) secretary PN Bahuguna said this time the ATCs would stop aircrafts' departure in four phases. Landing of planes and overflights, however, would be allowed, he added.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
