MUMBAI: Merchant banking group, N M Rothschild & Sons, has opened a representative office in India with the intention of setting up a local subsidiary at a later date. A release issued by the company quoted Evelyn de Rothschild as saying it planned to establish full service merchant banking activities in India. The new office will be headed by Shankar Dey who was earlier at Peregrine India.

Sundaram Finance, Fiat float JV

MUMBAI: Sundaram Finance Ltd has signed up with Fidis SPA, the fully owned finance arm of Italian car major, Fiat Auto to form a joint venture car finance company. Fiat Sundaram Auto Finance Ltd (FISAF), will have 51 per cent equity participation from Fidis and 49 per cent from Sundaram Finance. The venture will be dedicated to financing only Fiat cars. This include Fiat Uno, which has been already launched and the new range of World-car models, `Siena' and `Palio'. Fiat's sedan version Siena is set to be launched in India by January-end, while itssmall car version Palio will follow.

No takers for textile mill shares

COIMBATORE: The Coimbatore Stock Exchange (CSE) has voiced its concern over the disinterest shown towards buying the shares of textile mills, following the bad performance of the sector.

In a statement here today, CSE president, K Annamalai, said that most of the broker members used to get bulk buy order for the Coimbatore based shares, whereas, now there was no takers for even good performing mills. He said that the share price index of cotton textile industry had fallen by 50 per cent compared to previous year, he said.

NTIF expo

MUMBAI: Maharashtra Centre for Entrepreneurship Development (MCED) and National Youth Students Association (NYSA), a non-profit making voluntary organisation, in collaboration with Major Systems, Nagpur, a professional Management Consultancy Organisation will be organising a national level expo titled `The National Trade and Industry Fair (NTIF)'98, in Nagpur from November 26 to December10. Apart from highlighting the locational advantages of Nagpur, the expo also aims to showcase innovative business/product ideas, emerging technologies and modern machineries and equipment for the benefit of local entrepreneurs.