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Corporate

Tuesday, May 26, 1998

	Colgate-Palmolive India Asia's largest arm Colgate-Palmolive (India) Ltd (CPIL) has attained the status of the largest subsidiary of the US-based Colgate Palmolive in Asia. The subsidiary's larger role has been underlined by a promotion of its general manager and managing director N Jayaraman to the post of vice-president and managing director.		LG unveils direct-marketing strategy LG Electronics India is all set to unleash women power in the traditional male bastion and rewrite the rules of selling consumer electronics and durables in the country. LG has almost finalised the blue-print to set up a direct marketing network and rope in women for this activity.
	DoT mulls revenue-sharing for basic service bidding Telecom Commission chairman AV Gokak said the department of telecommunications (DoT) was considering a different methodology for the second round of bidding for basic telecom circles. The licence fee-based bidding system had rendered a large number of projects unviable and hence DoT was considering an alternate system of bidding.		UTI, LIC, GIC to meet soon As the initial euphoria over the revised offers by Sterlite and Alcan calms down, the three major financial institutions - Unit Trust of India (UTI), Life Insurance Corporation (LIC) and General Insurance Corporation (GIC) - have got into the task of analysing threadbare the offers, particularly the Sterlite one.

Essar Steel receivables deal loses sheen as rupee dips
With the rupee crashing below Rs 41 to the US dollar, Essar Steel, the Ruias-owned flagship, is losing out on substantial export gains it could have made through the currency depreciation. It is trapped in a low exchange rate bracket through an ambitious receivables-linked $335 million loan contracted in two tranches last year at Rs 36 and Rs 38 to the dollar respectively.

Rashtriya Chemicals net spurts 134% to Rs 180 cr
The Mumbai-based Rashtriya Chemicals & Fertilisers Ltd may set up a joint venture with UCB Belgium for the production of methylamines in Thal, Maharashtra, RCFL director (finance) S Balan told on Sunday. RCFL was interested in buying technology from the Belgian firm.

Kopran plans to enter skin-care segment
HMT director Malik puts in his papers
Corporate Briefing
Coke poaching key officials, fumes Pepsi
Infotech stocks caught in bull frenzy
Saab Auto unveils mega investment plan
Marubeni may boost stake in Indonesia's Chandra Asri
Microsoft, Sega in digital home game machine alliance
Telebras steps towards privatisation
GM gears up for on-time pickup truck
World Vignettes
Indian Oil, Gail likely to lead divestment rally
Alcan may resort to negotiated deal to keep up with Sterlite
Andhra petroleum-fertiliser mega project ties up funds
IPPs in TN told to complete financial closures in time
Sterlite offer attractive on the face of it
Indal union comes down heavily on revised offer
Sterlite seeks shareholders' nod to raise finances
IOB net profit up a tad to Rs 113 crore
Investors show renewed interest in Punjab Chem
Skoda eyes Rs 350-crore car export revenue by 2005
Financial Briefing
Sun Microsystems, Singapore to set up S$45 m Java fund
Crisil assigns AAA rating to Tata Sons debt plan