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Friday, July 2, 1999

M&M on restructuring drive; to hive off non-core businesses
Mahindra & Mahindra has kicked off a restructuring exercise to hive off unrelated businesses so as to stay focused on its core business of utility vehicles and tractors.

Sahara changes mind, withdraws slash in fares
Sahara Airlines, which triggered the fare war among domestic airlines earlier this season, backtracked on its decision by returning to the original fares on most of its routes barring metro ones.

Indal sells stake in Courtaulds to UK firm
Indian Aluminium Co (Indal) has sold its 30% stake in Courtaulds Packaging (India) Ltd to the UK-based Betts Group, the world's second largest producer of laminated tubes.



  Cash-strapped Essar Oil yet to pay for 10% holding in Petronet India
  Briefing
  Zenith Computers plans to acquire software firms in Singapore, US
  Jardine to manage Aurobindo Pharmas' private placement
  Escorts plans to sell stake in venture with Yamaha
  Satyam ties up with US firm
  Rankas to put flagship Modern Syntex on the block
  Shareholding pattern in JTM not to be changed
  Indian Bank gets RBI nod to defer results announcement
  IDBI charts out revival plan for Gujarat Guardian
  Sensex inches up on lacklustre trading
  Credit Lyonnais Securities report flays SBI for mounting bad debts
  Low scrip price helps Tatas up Tisco stake
  EIH set to float car rental venture with with Avis Europe
  Khattar takes charge as Maruti's second MD
  Andhra Bank net jumps 20% to Rs 90.04 crore
  Matiz sales jump 20% in May
  ITW Signode -- The cleanup act continues
  Danish hi-end audio brand scouts for 50 distributors
  More Group to target outdoor ads in top 10 cities
  Benson & Hedges brings in Big Apple RJ
  Satyam launches frame relay off ATM backbone
  IOC, BPCL to go slow on Petronet arms; equity recast may be delayed
  PFC flags off roadshows for $100 m ECB in Singapore
  IOC move to bid for IPCL may hit roadblock
  Rlys may clinch deals with Ford, Daewoo for transportation
  ABB, BHEL vie for NTPC project contracts
  French banking battle escalates as BNP raises offers for 2 rivals



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