Diesel Opel Astra to hit the roads in September
General Motors India (GMI) will introduce its small car `Opel Corsa' next year and a diesel Opel Astra in September this year. The company slashed its sales target to 8,000 cars for calendar year 1998 due to sluggish sales in the mid-size segment.
Dharani Cements goes to Grasim for Rs 52 crore
Grasim Industries, the Aditya Birla group flagship, has made its first foray into the `cement deficit' southern market by taking over the Tamil Nadu-based Dharani Cements (DCL) for a total consideration of Rs 52 crore.
LG Electronics chalks out Rs 1,040cr investment plan
LG Electronics India Pvt Ltd (LGEIL), a wholly-owned subsidiary of LG Electronics, South Korea, has unveiled a Rs 1,040-crore investment plan which will give it a major manufacturing presence in the brown and white goods sectors in the country.
Andhra Bank net profit likely to increase by 200%
The net profit of the Andhra Bank is expected to cross the Rs 100-crore mark during the fiscal 1997-98. As per the provisional and unaudited results, the net profit during the year was likely to be more than 200% over the previous year.
British Gas, Egypt join hands to build $200-million gas pipeline
British Gas and Egypt signed a deal on Saturday calling for at least $220 million in investment to develop the gas market in upper Egypt. British prime minister Tony Blair, in Cairo on a Middle East tour, witnessed the signing.
ABN Amro to up stake in Hoare Govett Securities
ABN Amro Hoare Govett Asia Holdings of Hong Kong has received the Foreign Investment Promotion Board's approval to hike its stake in its joint venture with IL&FS from 40% to 75%. The stake is being hiked through the acquisition of the company's shares from other shareholders and a rights issue.
