| |
Bank credit rises, investment down
The growth in bank credit initially started outstripping deposit growth during the month of December 1997. During the fortnight ended January 30, 1998, bank credit grew by 1.7% (Rs 5,160 crore) while deposits grew only by 0.5% (Rs 3,054 crore). This is the fourth consecutive fortnight that credit pick-up has far outstripped deposit growth.
 |
|
Pennzoil to double lube capacity
Pennzoil India, a subsidiary of Pennzoil Products (USA) and one of the top ten players in the Indian lube industry, is doubling its production capacity to 70,000 kilo litres per annum. The company will invest around Rs 5.5 crore in modernising and upgrading its plant at Turbhe to achieve the increased output.
|
 |
BSE, NSE plan to join IOSCO
The two largest Indian stock exchanges, National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have decided to become members of the International Organisation of Securities Commission (IOSCO). This follows an invitation to the two exchanges to this effect by IOSCO technical committee chairman as well as chairman of the securities and futures commission of Hong Kong.
|
ALIL to sell off 49% stake in ABB Alfa
Alaf Laval India Ltd (ALIL) is considering the sale of its 49% stake in ABB Alfa Stal Refrigeration Ltd following the worldwide takeover of ABB Stal by Danish group Sabro. Discussions regarding the matter are currently on.
|
