The Indian Express -- Business

Tuesday, July 22 1997

FOREX RATES INDICES STOCK

Ban on imports of penicillin-G to continue

The government has decided to bailout the indigenous penicillin-g and rifampicin intermediate industry by extending the ban on imports. The fermentation industry has been plagued by serious problems of overproduction and overcapacity.

Leasing firms want `NBFC' tag modified

Hire purchase and leasing companies have protested against the Reserve Bank of India's decision to club them with investment and deposit-taking non-banking finance companies (NBFCs). The Hire Purchase & Lease Association (HPLA) said that banks and term-lending institutions were giving its members the "untouchable" status.

Abbott Lab, Lupharma freed from open offer

The Securities and Exchange Board of India (SEBI) has granted partial exemptions to Abbott Laboratories and Lupharma GmbH from making open offers under the new takeover code while hiking their stake from 40% to 51% in Abbot Laboratories India and Knoll Pharmaceuticals respectively.

Industrialists to meet PM today

Gujarat to divest GMDC stake

Fiat earmarks $1 bn for ventures in India

Berger rejects Korean offer

RBI to shift DFC office to Mumbai

NSDL cuts charges; Infosys' novel deal

Contingent dues of banks soar

Sebi forms panel on investor education

New account starts well