Monday, October 11, 1999
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Divestment target may be cut to Rs 6000 cr

The government is likely to substantially reduce the disinvestment target to around Rs 6,000 crore from the budgeted figure of Rs 10,000 crore.

Bharti set to buy out Crompton Greaves 40.1 per cent in SkyCell for Rs 255 cr

Crompton Greaves is in advanced stage of negotiations with Bharti Enterprises to sell its 40.1% equity stake in Chennai cellular service provider SkyCell Communications for around Rs 255 crore.

ICICI to insist on 1-2 debt-equity ratio to fund greenfield projects

ICICI Ltd has tightened the lending norms for greenfield projects in the manufacturing sector. The term-lending institution has decided to fund only those projects which have a 1:2 debt-equity ratio.

Elections 99

Cheminor Drugs develops improved ibuprofen process

Cheminor Drugs, part of the Dr Reddy's group, has developed a process for an improved version of ibuprofen, an anti-inflammatory drug, based on chiral synthesis.

Centre mulls holding company for HPCL, BPCL

The ministry of petroleum and natural gas is working on a proposal which would involve creation of a holding company for Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL). A note in this regard is expected to be sent to Cabinet for approval.

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Executive Briefings

bullet.jpg (687 bytes) Maruti to pit Wagon-R against Santro

bullet.jpg (687 bytes) M&M mulls marketing pact with Ford to sell Scorpio in global arena

bullet.jpg (687 bytes) Indian Oil forms internal team to explore equity option in Essar Oil

bullet.jpg (687 bytes) HCL Tech puts in place global advisory board

bullet.jpg (687 bytes) UTI Bank net up to Rs 21 cr in Q2; income vaults to Rs 255 cr


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