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Corporate Economy Expressions Markets Leisure 09 February 1998   State-run banks to recast companies rating in bid to step up lending rates Major public-sector banks plan to revise their corporate internal credit-ratings in a bid to increase lending rates. This will be done without jacking up the prime lending rates or raising the cap on them. The intermediaries also planto levy a penalty fee on blue-chip corporates that have been rushing to draw down funds from PSU banks and parking it with foreign and new private-sector banks in the form of certificates of deposit (CDs) or term deposits.   Hindujas to seek $800-million foreign loan for Visakhapatnam The Hinduja group will shortly negotiate with foreign lending agencies for credit of over $800 million to part finance its $1.2 billion thermal power project in Visakhapatnam in Andhra Pradesh. The PPA has already been signed with Mahanadi Coal. The counter guarantee is expected to be cleared by February 20. Assessees spar over bid to stymie modvat credit The central excise department in Mumbai is virtually embroiled in a war with assessees over attempts by the former to deny or delay modvat credit by unfair means. The department, according to assessees, has tried to withdraw RG 23 registers from several units in the city. Without the register the assesses cannot claim credit. Automobiles Peugeot, Maruti Udyog sign pact for Esteem diesel engines France-based Automobiles Peugeot has signed an initial memorandum of understanding with Maruti Udyog (MUL) to fit its TUD5 diesel engine in the Esteem. Trials are expected to begin soon. Except the 800cc version, all Maruti ranges have been dieselised.   Nalco chalks out Rs 200cr expansion The National Aluminium Company (Nalco) plans an additional Rs 200 crore expansion to produce special aluminium for manufacturing cans. This was in addition to Rs 3,727 crore expansion plans alreday underway and scheduled to be completed in 2001. The project will be internally funded. FIPB clears Sun Microsystems plan for subsidiary with rider The Foreign Investment Promotion Board (FIPB) has cleared the proposal by US-based $8-billion Sun Microsystems to set up a wholly-owned subsidiary in the country. The department of electronics has also backed the proposal. The subsidiary will be in charge of marketing and distribution of its hardware and software products.   CORPORATE Indian Oil Panipat refinery set to be commissioned Birla AT&T offers minority stake to AIG ECONOMY Inflation rises to 5.81 per cent Steel prices may see further slide in '98 EXPRESSIONS Yo! The public has stake in SBI too! Giving children childhood is no child's play MARKETS Sensex's short-term target will be 3,525 before turning around Coconut oil continues to be very volatile; but is futures trading the answer? LEISURE MAT changes tax-planning pattern of companies Bal Thackeray snubs Sonia Gandhi, Kesri alt="Bottom banner spot" border="0">