Friday, August 28, 1998
India rated higher by Morgan Stanley
Notwithstanding the downgrading of India by Moody's and Standard & Poor, Morgan Stanley Dean Witter's Hong Kong-based research team has picked India as the relative outperformer of the Asia Pacific Region. Opining that India's fundamentals remain healthier than anywhere else in the region, the research team reiterated Morgan Stanley's overweight position in India in its Asia Pacific model portfolio of 12% versus an MSCI AC Asia/Pacific current weighting of 8.9%.
Auditors find discrepancies in Ispat Profiles balance sheet
The auditors of Ispat Profiles (IPL), a major company of the Ispat group of the Mittals, have heavily qualified its balance sheet for the year ended March 1998. The auditors say that the company set off debit balance in profit and loss account for losses (incurred after March 31, 1995) amounting to a whopping Rs 180.95 crore with revaluation reserve created on revaluation of fixed assets based on legal opinion obtained by the firm.
Rifampicin prices revised
Rifampicin drug prices have been revised upwards, according to a release by the Ministry of Chemicals and Fertilisers on Thursday. The National Pharmaceutical Pricing Authority (NPPA) has revised the price of bulk drug Rifampcin as per the August 25 notification.
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