The Indian Express -- Business

Thursday, May 15 1997

FOREX RATES INDICES STOCK

ICICI, IFCI to launch FD schemes

ICICI and IFCI will launch their fixed deposit schemes in about two months. Both these FIs come under the ambit of the Companies Act which stipulates under section 58 that advertisements for FDs must be accompanied by the last year's financial results. FIs do not expect to raise a huge amount through the fixed deposit (FD) route as they prefer short-term liabilities to bridge short asset-liability mismatches.

CARE downgrades Philips India NCD

Credit Analysis & Research Ltd (CARE) has downgraded the Rs 30 crore non-convertible debenture issue of Philips India Ltd to "AA-" from the earlier rating of "AA+". The change in rating took into account the operations of the company in the first half 1996 and the increasing competition for the company's products.

Mukand plans mega power project in MP

Stainless steel major Mukand Ltd will set up a 420 MW power project at Korba in Madhya Pradesh with an investment of around Rs 1,200 crore. This is in addition to various small captive power plants that the group is setting up at its various energy intensive plants.

Gold citation for Express award winner

Cost audit change may lead to evasion

House nod for bill may not yet open up insurance

Bajaj Auto for bonus, 100% dividend

Is bonus all bull?

Duty on 96 IT items to go

TN Dadha to merge with Sun Pharma

CII chief worried over impact of lawlessness on industries

BIZBITS -- Thermax net declines

SEBI clarification on badla financing

Bajaj bonus buoys pivotals

NHB to contest arbitration award