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Corporate Economy Expressions Markets Leisure Friday, March 13, 1998   Indal board exhorts shareholders to reject Sterlite Industries open offer The Indian Aluminium (Indal) board has recommended to its shareholders the rejection of Sterlite's open offer for buying 20 per cent of the company's stake, without openly and formally suggesting a sell-out to Alcan Aluminium's counter-offer. The board's cautionary advice to its shareholders was based on the recommendations of a committee of independent directors.   Sterlite may step up Indal bid to Rs 120 Sterlite Industries' Agarwals are likely to make a higher bid for Indal next Wednesday, according to sources in Enam Financial Consultants, which is handling the deal for the company. The price is likely to fixed at Rs 120 per share. MRTPC enquiry notice against BPL The Monopolies and Restrictive Trade Practices Commission has issued a notice of enquiry against BPL for unfair and restrictive trade practices on claims made about its Excel batteries. The notice was issued following a complaint filed by Duracell. Mecon to set up external coal-handling system for TNEB project Ranchi-based consultancy firm Mecon has bagged an assignment for setting up an external coal handling system on turnkey basis for the Tamil Nadu State Electricity Board's north Chennai thermal power project. The work will be completed within 36 months.   Rashid Hussain set to acquire Sime Bank Malaysia's Rashid Hussain Bhd said it had set an agreement to acquire Sime Darby Bhd's troubled Sime Bank Bhd, just a week after saying it had won government approval for merger talks. The financial services group said it had signed a deal with Sime Darby and diversified KUB Malaysia Bhd, the key shareholders of Sime Bank, to buy the bank's share capital for 852.24 million ringgit ($213 million). Sriram Mills land development cleared despite dissent The Shiv Sena-BJP government's decision to vacate ban on land development and regularise residential construction work of 5,489.24 sq mt on 4,898.89 sq mt of land by Sriram Mills has been taken despite dissent opinions given by the urban development and textile departments.     World Briefing   News Corp shares soar to a new high   Bayer meets expectations, but shares retreat   UK's Orange cuts losses but silent on prices   Compaq chief hopes to turn around   Asian turmoil bites into Schroders 1997 profits   Cortecs eyes US market for Macritonin drug   Falling bottomline fails to deter Sri Chamundeshwari Sugars'   Corporate Briefing   Volvo India ties up with domestic firms to source components for trucks   Electronics Corporation leads bid for Malaysian telecom tender   Executive Briefing   Court respite for Raasi Cement in ICL open-offer wrangle   Power Finance Corp defers Rs 225cr taxable bond issue   Safari output to be increased   ITI sees 30 per cent growth in sales turnover this fiscal   Gopalakrishnan may call it a day at HLL   It's business as usual at Hindustan Lever offices   Hyderabad, not Bangalore, is new destination