The Indian Express -- Business

Monday, May 12 1997

FOREX RATES INDICES STOCK

MNCs all set to buy major stakes in three companies

Talks between multinationals and Indian promoters are in the final stages for the acquisition of equity stakes in three Indian companies belonging to well-known industrial groups. The Indian companies are: Nocil, PAL-Peugeot Ltd and Lupin Agrochemicals. DOW Chemicals has emerged as the front-runner to acquire a majority stake in the petrochemical joint venture with Nocil.

US-64 may be freed from NAV disclosure

Unit Trust of India is unlikely to have to declare a daily net asset value for its flagship US-64 scheme. This is because the scheme is no longer an equity scheme, with the portfolio tilting more towards debt in the course of the past year. Unit Trust is seeking a clarification on the matter from the Securities and Exchange Board of India.

Carpet exports flourish

Carpet exports from India have gone up by over 4% to Rs 2,060 crore during 1996-97 in spite of threats by western countries like Germany and the United States to impose a ban on carpet units using child labour. The export target in the for the year 1997-98 is around Rs 2,200 crore. The main export market for Indian carpet is Europe which take in 55% followed by the US 35%.

"We have tried to check indiscipline"

SHV, HALPG float $100 mn joint venture

Markets bracing up for more shocks

Site Insight

Koreans fortify positions

ADB warns India against reform slowdown

Figure watch

Quickbites -- IBM develops internet encryption

Guest column

Inflation inches down to 6.35%

All The India You Want To Know