Monday, December 7, 1998
Market yet to discount urea firms
There has been little market interest in fertiliser companies in recent days, especially after the announcement of the subsidy for DAP and other phosphatic fertilisers for the Rabi season. Companies manufacturing variants of phophatic fertilisers have come under selling pressure following the likelyhood of a not-so-buoyant second half.
Deficit worries
Finance minister Yashwant Sinha misses no occasion to declare that the fiscal deficit will be held at 5.6% of GDP in 1998-99. On December 3, even as he reiterated his determination before parliament, the government tapped Rs 2,000 crore through a 10-year 12.25% loan which it privately placed with the RBI.
Leasing out Victoria Memorial
Last week's grandest event was undoubtedly the fairy tale wedding of NRI tycoon Lakshmi Mittal's son. The venue chosen was Calcutta, a fitting tribute to the city which was the scene of Mittal senior's early attempts at extracting surplus value from a Marxist populace.
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