The Telegraph
Since 1st March, 1999
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Business Briefs

Bilt lines up GDR flotation

New Delhi, Sept. 25: The board of Ballarpur Industries (Bilt) today approved the issue of global depository receipts aggregating Rs 160 crore. It also approved the private placement of foreign currency convertible bonds aggregating Rs 210 crore in the international market. An extraordinary general meeting of shareholders will be held on October 23 to seek their approval for the proposed international offering, said Vandana Dhir, deputy general manager.

Lloyds move

London, Sept. 25: Lloyds TSB is planning to create 1,500 more jobs in India by expanding the Bangalore facility and building a new operation in Hyderabad.

Textile boost

New Delhi, Sept. 25: The government today said a revival package for textile industry would be applicable to all units in organised sector with a minimum debt exposure of Rs 2 crore. The package will allow recipients to pay interest rates of 8-9 per cent on rupee loan basis.

Gold spurts

New Delhi, Sept. 25: Gold prices rose across the country today as stockists enlarged their positions to meet the demand. Gold was higher by Rs 100 at Rs 5,970 in Chennai followed by Mumbai where it gained Rs 90 at Rs 5,870 per 10 gram. In Delhi and Calcutta it shot up to Rs 5,845 and Rs 5,980 per 10 grams, respectively.

Lupin permit

Mumbai, Sept. 25: Lupin said that US Food and Drug Administration has approved its abbreviated new drug application for Cefotaxime vials for injection 500 mg, 1g and 2g, the generic equivalent of Claforan marketed by Abbott Laboratories Inc.

Gilt buyback

Dubai, Sept. 25: The finance ministry proposes to rework the scheme to buyback high cost government securities from banks and financial institutions in the face of poor response. A senior finance ministry official indicated that the government may offer higher premium to make it more attractive.

AmEx plan

New Delhi, Sept. 25: American Express Bank (AmEx) is open to acquiring Indian banks and mutual funds as parts of its efforts to increase its presence in the country.

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