The Indian Express -- Business

Thursday, May 8 1997

FOREX RATES INDICES STOCK

Companies keen on commercial papers

Taking advantage of the sharp fall in short-term interest rates, blue chip corporates and finance companies have made a beeline to raise resources through issue of Commercial Papers (CP) and other debt instruments. The Credit Analysis & Research Ltd and Credit Rating and Information Services of India Ltd have rated CPs worth over Rs 250 crore this week.

Corporate bottom lines under pressure

For the first time in the last decade, the corporate sector is heading towards a decline in profits. After showing healthy growth in the last several years, the aggregate profit after tax of 35 companies which announced their financial results for the year ended March 1997 fell by 1%.

FM's sops for MFs

The Union finance minister P Chidambaram has amended the Unit Trust of India Act which defined all payouts made by the Trust as dividend income. Instead, payments made by the UTI to its subscribers will now be termed as "income" and will be taxed accordingly.

FI absence mars sentiment

Trade deficit touches $5.44 bn in '96-97

1:1 bonus from M Scooters

BIFR orders closure of 9 cos

Rao -- A businessman with Midas touch

TRAI ultimatum on DoT issues

Tektronix buys Indian arm

ICI to buy Unilever units

HLL board meet

Unfazed Chidambaram offers only minor sops

All The India You Want To Know