The Indian Express -- Business

Saturday, July 26 1997

FOREX RATES INDICES STOCK

Merchant-exporters may get more Modvat benefits

The revenue department is considering a proposal of allowing merchant-exporters to reverse the modified value added tax (Modvat) credit on goods exported under the advance license scheme. Revenue secretary N K Singh has already asked the Central Board of Excise and Customs (CBEC) to work out the modalities.

RIL bonds mop up $150-mn

Reliance Industries Ltd (RIL) privately placed $150 million in debt (Rs 540 crore) with a group of European institutional investors at a coupon rate of 7.625%. The instrument has 30-year maturity with an innovative rolling put structure consisting of an initial put option in the 10th year.

Western India Securities among six companies downgraded

Credit rating agencies have downgraded the debt instruments and fixed deposit programmes of six companies - Flex Industries, Flex Engineering, Core Healthcare, Pontiac Leasing, Dover Credit and Western India Securities - for various reasons.

Bizbits -- BoR profits plummet

Sensex loses 37 points

Govt forms EPB formally

Excise on production capacity introduced

MoST to instal VTMS at ports

BSES preference shares to carry 9.5% dividend

Modified food additives regulations likely

Plantation firms should come under RBI: Shah

DSE corporates allowed to contest election

Scripless trading in SBI, VSNL soon

Foreign stake in Usha okayed

M&M Ltd opts for stock option, ups MMFSL stake

RBI panel to examine commodity hedging

Singh defends VDIS