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Usha Martin,
others plan cellular alliance
Calcutta: Usha Martin Telekom, the cellular services provider in Calcutta, which is
part of the Jhawars’ Usha Martin group, wants to move into domestic long-distance
services that will cover the four metros. For this project it is understood to be
negotiating with cellular service providers in Delhi (the Bhartis), Mumbai (Hutchison
Telecom, BPL) and Chennai (RPG).
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Vindhya
Telelinks optic fibre unit on stream
Mumbai: Vindhya Telelinks, a part of the M P BIRLA group, has commissioned an
optical fibre cable unit with an installed capacity of 30,000 cable km in Rewa in Madhya
Pradesh. The company will produce ‘uni-tube’ design and ‘loose-tube
concentric’ design cables, for which it has obtained type approval certificates from
the department of telecommunications.
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Shriram
companies in preference issue
Chennai: Three companies of the Shriram group of Chennai aim to augment their
resources by issuing preference shares. The companies will seek shareholders' approval
soon. The companies are Shriram Transport Finance Company Ltd, Shriram City Union Finance
Ltd, and Shriram Investments Ltd.
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DCM Hyundai up
for grabs
New Delhi: The Board for Industrial & Financial Reconstruction has called for
takeover bids for DCM Hyundai, a joint venture of DCM Shriram Industries and Hyundai of
Korea. In 20 months of the case pending with the BIFR, the promoters have failed to submit
a viable rehabilitation proposal.
BIFR has asked ICICI, the operating agency in the
case, to issue an advertisement inviting acquisition offers. The promoters will also be
allowed to make an offer.
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Gujarat
Gas’s CNG plans
Mumbai: British Gas affiliate Gujarat Gas Company will strengthen its compressed
natural gas operations. It plans to convert 5,000 vehicles to use of CNG in the year 2000,
including 4,000 autorickshaws and 1,000 petrol-driven cars.
The company will also add new CNG supply stations and expand its gas network in Gujarat.
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Jindal
Vijaynagar delisting from seven exchanges
Calcutta: Jindal Vijayanagar Steel Ltd will de-list its shares from seven stock
exchanges. These include the exchanges in New Delhi, Calcutta, Cochin, Chennai, Hyderabad,
Ahmedabad, and Mangalore. It will continue to be listed on the Bombay and Bangalore stock
exchanges.
The company’s management is placing a special
resolution for this purpose at its next shareholders’ meeting.
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Intel
offers Pentium III
New Delhi: Intel Corporation of the US has launched the Pentium III processor 1GHz
for personal computers. The chip, priced at $990 in 1,000-unit lots, is now available in
limited quantities, according to the company.
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