The Indian Express -- Business

Wednesday, November 19 1997

FOREX RATES INDICES STOCK

Rupee falls like there's no bottom

The foreign exchange market witnessed a turmoil with the rupee plunging below the crucial Rs 37-mark to hit the 21-month low of Rs 37.41 against the dollar on Tuesday. The rupee crash dampened the stock markets also and the Sensex fell by 59 points on the Bombay Stock Exchange.

DoT abandons move to blacklist firms

The Department of Telecommunications (DoT) has formally suspended all proceedings for blacklisting 12 companies allegedly indulging in cartelisation in supplying optical fibre cables to the Department. The surprising factor in the whole matter is Minister for Communications, Beni Prasad Verma's decision to let off the companies after dragging its feet over the issue for more than a year.

HLL against SWC bid

Hindustan Lever Ltd has objected to the manner in which Henkel Spic India Ltd was declared the winning bidder for the controlling interest of Shaw Wallace & Co Ltd in both Calcutta Chemical Company Ltd and Detergents India Ltd. SWC has sought the approval of the Company Law Board for the sale of Calcutta Chemical and Detergents India at a proposed sum of Rs 51.05 crore.

Re fall long overdue

Bank loans on demat shares simplified

Bizbits -- Kotak Finance profits down

IPCL net down to Rs 142.19 cr

HLL against SWC bid

Darbari Seth steps down

Mitsubishi pulling out of JV

Voltas, 9 others downgraded

Rupee falls like there's no bottom

DoT abandons move to blacklist firms