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Wednesday, August 11, 1999

Reliance group co to control 46% of India Polyfibres Ltd
Reliance Petro Products Pvt Ltd, a Reliance group company, will control over 45% stake in the restructured capital base of India Polyfibres Ltd (IPL) while the stake of RPG group (the original promoter) will come down from 51.32% to 7.54%.

Godrej Soaps sets up taskforce to boost sales in the rural market
Godrej Soaps, manufacturers of toilet soaps and toiletries, has set up an internal task force which will look into growth opportunities in the rural hinterland.

HSBC Holding zeroes in on acquisition to enhance capital base
HSBC Holding PLC, the holding company of Hongkong and Shanghai Banking Corporation Ltd (HSBC), has zeroed in on acquisition and merger route to enhance its capital base to make it to the top of the global banking scene.


Corporate Results


  Grasim's two textile units likely to restructured
  Deutsche Bank to set up local presence
  KPMF declares 20 pc dividend on Prima Plus
  Banks and financial institutions net profit falls by 9.6% in April-June
  Kinetic Engineering shrugs off entry of Honda Motor
  Icra downgrades IFB Finance, Crisil gives `AA-' to KMP's debt programme
  SSIL to take over US-based Indigo Inc
  Kopran Drugs, Synpac Pharma in equity alliance
  Sterlite puts alumina project on hold, may split cable, copper businesses
  CESC back in black, posts Rs 2 cr Q1 net
  Metal Box blames bankers for revival delay
  Hotline walks out of alliance with Konka
  Usha to fan rural sales with Rs 750 range
  Philips adds steam to the irons market
  De Beers cuts and polishes generic brands
  Ceat retreads retail chain strategy



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