Financial Express - India's leading business newspaper from the Indian Express Group

IDBI seeks Sterling selloff to aid Essar FRN

The board of Industrial Development Bank of India, which met on Monday, decided against extending any fresh loans to Essar Steel, and the group, till all outstanding interest defaults were paid up at the earliest.

FI's Q3 net dives 53% to Rs 141 cr

The Industrial Development Bank of India's net profit has plummeted by 53.47% during the third quarter of of 1999-2000 to Rs 141 crore from Rs 303 crore net clocked in the corresponding period of the previous fiscal.

DoT to securitise 4 firms licence fee dues

The Department of Telecommunications has decided to seek immediate securitisation of the entire licence fee dues from Fascel, JT Mobiles, Modicom, and Hughes Telecom, which failed to meet Monday's deadline for the payment.

Cadila Pharma in talks with foreign companies for contract manufacture

The Ahmedabad-based Rs 500-crore Cadila Pharmaceuticals is in talks with at least two leading international pharma giants for contract manufacture of their drug requirements.

VSNL third-quarter net up 11% to Rs 298 crore

Videsh Sanchar Nigam Ltd has posted an 11% rise in net profit to Rs 298.40 crore during the third quarter of the current fiscal against Rs 268.42 crore in the corresponding period previous fiscal.

M&M Q3 net leaps 23% to Rs 77.76 cr

Aided by higher sales in the utility vehicle segment, Mahindra & Mahindra has reported a 23% rise in net profit at Rs 77.76 crore during the third quarter ended Dec 31, 1999, against Rs 63.22 crore in the corresponding period last year.