The Financial Express -- News

Thursday, August 21 1997

Hind Motors board approves rights issue

The board of directors of Hindustan Motors has approved a Rs 50-crore rights issue to fund its expansion and modernisation programme. The decision was taken at a board meeting on Wednesday before the company's 55th annual general meeting.

GEC Alsthom waking up to reality

GEC Alsthom is extremely distraught with the business climate in India. GEC has attributed its poor performance to an inadequate addition of power generation capacities and the fact that the transmission and distribution product market is over supplied with a large number of new players.

Pfizer royalty payments to parent dip

Royalty payments by Pfizer Ltd to its American parent, a contentious issue with company shareholders, have been on the decline in the last couple of years with the payment amounting to Rs 5.55 crore for the year to March 1997.

ICI funds came in before Asian Paints' earlier deal was off

Panna Khatau faces jail term for contempt of court