Friday, July 16, 1999
FIs formally reject Essar's bailout plea
Financial institutions pulled the plug on Essar Steel yesterday by formally sending a statement saying the institutions will not refinance the $250-million floating rate notes (FRNs) due for redemption on July 20.
Bhaskarudu to be shifted out of Maruti Udyog
Maruti managing director RSSLN Bhaskarudu is being shifted out of the company after a brief tenure of less than two years.
Tisco Q1 net slips 8.5% to Rs 25 cr
Tata Steel's net profit has declined in the first quarter by 8.5% to Rs 24.79 crore for the period ended June 1999 compared with Rs 27.09 crore in the corresponding period last year.
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