Friday, December 4, 1998
Tatas set to welcome ACC back into fold, alter scrip's face value
The Associated Cement Companies Ltd is all set to return to the Tata fold, with the promise of a future even more giant than the past. The Tatas are preparing to hike their stake in the giant cement corporation, scotching all doubts about its control over the 60-year-old blue chip.
Centre exceeds borrowing target, strains fiscal
The Centre on Thursday overshot its gross-borrowing programme by privately placing a Rs 2,000-crore ten-year paper at 12.25% with the Reserve Bank of India, indicating an impending fiscal slippage. Another Rs 1,500 crore will be raised through auction of a three-year paper on Monday.
Mahanagar Telephone Nigam told to chalk out plan to better service
The Telecom Regulatory Authority of India (Trai) on Thursday directed the state-owned Mahanagar Telephone Nigam Ltd (MTNL) to submit a plan of action for improving service. The directive was given by Trai chairman justice SS Sodhi at an open session where MTNL came under attack from subscribers and various organisations.
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