Stay on HB Leasing group firm's open offer vacated
The Allahabad High Court has vacated the ex parte interim injunction order passed by the civil judge of Jhansi against the open offer announcement made by HB Leasing and Finance and HB Stockholdings Ltd for acquiring 30 lakh equity shares of Indo Gulf Industries at a price of Rs 15 per share.

SBI disburses Rs 3,000 cr RIB proceeds to banks
State Bank of India on Monday disbursed about Rs 3,000 crore to banks, the second tranche of their share in the Resurgent India Bond (RIB) collection. With this, SBI has disbursed about 90% of the estimated Rs 6,700 crore meant to be lent to the RIB collecting banks.

Indian Seamless sees better first half
Indian Seamless Metal Tubes Ltd (ISMT) is likely to post better first-half results in the current year on the back of higher exports. Net profit for the first half of 1997-98 was Rs 3 crore, which is expected to go up by 10% for the period April-September 1998, according to executive chairman BR Taneja.

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