The Indian Express -- Business

Wednesday, November 05 1997

FOREX RATES INDICES STOCK

Grasim net falls by 15%

As expected, Grasim Industries, the flagship of the Aditya Birla group, has come out with lower profits for the half-year ended September 1997. The net profit of the company dropped by 15% to Rs 125.26 crore from Rs 147.44 crore in the same period, last year. The company, however, achieved a higher operating profit by 2.1% at Rs 305.04 crore compared to the previous year's figure of Rs 298.84 crore.

Marubeni plans stake in Essar Steel, Ispat

The Japanese conglomerate Marubeni Corporation is in talks with India's two leading steel firms -- Essar Steel and Ispat Industries -- to either pick up a stake in the existing companies or set up a new joint venture. Marubeni is interested in taking up 40% stake in Essar Steel's pellet plant, situated at Vizag. The company has also approached the Ispat group, to pick up a stake in their Ispat Industries, which operates a steel plant in Dolvi in Maharashtra.

G-15 braces up to safeguard developing economies

The leaders of the G-15 developing countries yesterday decided to play a ``catalytic and concrete'' role for an effective North-South dialogue on trade issues and globalisation efforts. The leaders, during their retreat on the second day of the three-day summit, being held in Kuala Lumpur, laid special emphasis on strengthening the group to take up collectively with the Group of Seven (G-7) developed countries issues affecting the developing world.

Autonomous authority mooted to lift burdened aviation sector

FI cap on pvt power projects to go

Bizbits -- Swiss fund to invest $25-mn

TRAI floats paper on pricing policy

Marubeni plans stake in Essar Steel, Ispat

Diesel pricing in troubled waters marubeni

Grasim net falls by 15%

RBI gives more powers to ADs

Hong Kong stocks down

Crisil downgrades DSJ Finance

BSE recovers marginally

G-15 braces up to safeguard developing economies

PSE to seek SEBI nod for modified badla

SBBJ to go public on Nov 20

Asian currencies rev up as Thai PM promises to quit

IA's network troubles