Saturday, February 6, 1999
Centre to mop up Rs 535 cr via Nalco recast plan
The Centre has cleared National Aluminium Company's capital recast plan for converting 50% of the public sector undertaking's equity into debt. The debt, in turn, will be subscribed to by banks and financial institutions by way of private placement of six-year, 14.5 per cent (semi-annual) bonds.
Motorola hives off networking arm in bid to spruce up local presence
Motorola India has hived off its Bangalore-based Internet and networking group (ING) division which had posted a revenue of Rs 25-30 crore last year. The staff strength of the division has come down by 80-90 per cent.
Sankara Nethralaya acquires Willingdon Hospital
Sankara Nethralaya, the world renowned referral-opthalmic hospital, has acquired the property of the Chennai-based Willingdon Hospital as part of its plans to expand operations.
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