Saturday, June 27, 1998
Centre to raise Rs 5,500 crore via three papers
The centre on Friday announced auction of three securities to raise Rs 5,500 crore from the market. The money will be raised through three-year, five-year and 12-year papers. The auction will be conducted by the Reserve Bank of India on July 1.
RIL to hike polypropylene capacity
Reliance Industries (RIL) has taken its capacity-creation strategy a step further by announcing that it will hike its polypropylene capacity at Jamnagar by 50%, making it the world's fifth-largest polypropylene-maker. The petrochemicals major has announced its intentions to scout for idle capacities in beleaguered south-east Asia, break new ground by entering into agriculture business, and is taking steps to display more clearly to shareholders the value created by its oil and gas businesses.
Dunlop India chalks out revival strategy
Dunlop India Ltd, which reported a Rs 231.84 crore loss for the nine-month period to December 31, 1997, has outlined a revival plan. This includes selling non-performing assets (NPAs) like real estate, making a rights issue and slashing overheads. The revival plan does not take into account any aid from the banks.
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