The Indian Express -- Business

Thursday, August 21 1997

FOREX RATES INDICES STOCK

Modiluft, Lufthansa cease-fire

Warring erstwhile partners, ModiLuft and Lufthansa have reached an out-of-court settlement. The terms of the settlement include immediate return of three Boeing 737 aircraft to Lufthansa. The German carrier will also get immediate monetary compensation of Rs 1.49 crore from ModiLuft.

Importers run for cover

The rupee's sudden volatility has led to a panic situation where importers are running for cover. While corporates expected the rupee, which has been seeing upward pressures on the back of strong capital inflows, to depreciate marginally, they were unnerved by the overnight crash.

Warehousing stages a comeback

Warehousing is the new buzzword for investors. With pivotals languishing and opportunities to book profits on the wane, investors are now seeking greener pastures in scrips which have attracted heavy institutional buying.

TN retailers to boycott HLL products due to low margins

SBI scrip shoots up in kerb deal

TEC revenue up 2.7%

Dewan Housing downgraded

United Western Bank opts for buy-back

Sensex recovers by 69 pts

Essar Oil to raise FII stake to 30%

Re falls to 18-month low, recovers