Tuesday, July 6, 1999
Sensex spurts; Rupee rallies
The financial markets rallied on Monday as the prospects of an early end to the 2-month old Indo-Pakistan border conflict brightened following an assurance given by Pakistan Prime Minister Nawaz Sharif to US President Bill Clinton on withdrawal of forces from Indian soil.
Khanna new Ranbaxy chairman, Brar MD
Former Delhi Lt Governor Tejendra Khanna has been elected chairman of Ranbaxy Laboratories and DS Brar appointed managing director with immediate effect by the board of directors.
Modern group cos make Rs 172 crore loss
The Modern group of the Rankas, with institutional debts of over Rs 800 crore, has gone deeper into the red. The four major companies in the Modern group - Modern Syntex, Modern Terry Towels, Modern Denim and Modern Threads - have made a whopping loss of Rs 172 crore for the year ended March 1999.
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