SBI may help Essar securitise export dues to redeem FRN
The State Bank of India is planning to rope in a string of commercial banks and financial institutions to provide an export performance guarantee to Essar Steel.

Godrej hires Kotak, Lazard and SSKI to work out group revamp
The Rs 1,000-crore Godrej group, fighting a demand slump, has hired three merchant bankers -- Kotak Mahindra, Lazard Credit & Capital and S.S. Kantilal Ishwarlal (SSKI) -- to work out "a restructuring package".

Price hikes allowed for formulations of major pharma cos
Hoechst Marion Roussel (HMR), Ranbaxy Laboratories, Cadila Healthcare and Merind (now part of the Wockhardt group) have been granted price hikes for a range of formulations.

  Sumitomo Light to quit forged, foundry products
  Indo Gulf sees sales at Rs 1,625 cr in '98-99
  Mitsubishi Chemical, Tokyo Tanabe to merge
  Ruhrgas plans to increase stake in gas company
  KVIC to introduce branded products across the country
  P&O set to bag contract for Kandla container terminal
  VSNL's `Vision 2004' study charts out the future
  DSP's modernisation plan incurs cost overrun of Rs 2,160 cr
  HSIL acquisition of Raasi unit to cost Rs 26 crore
  Corporates rush to show swadeshi streak
  FIs resist pressure from Delhi to step up Essar exposure
  In Brief