 |
|
Business News
Maruti Udyog goes to Suzuki NEW DELHI: The Government has sold its share in Maruti Udyog Ltd to Suzuki Motor Corp (SMC) of Japan. All the equity owned by the Government will be sold in three tranches, the third one will be in April, 2004. Suzuki will pay the Government Rs 1,000 cr as control premium when the Government dilutes 4.2 per cent of the 49.7 per cent holding in favour of Suzuki and Suzuki hikes its stake to 54.2 per cent. The dilution is effected through a Rs 400 cr rights issue which will be fully subscribed by Suzuki. The two remaining public offers will lead to the Government's total exit from the joint venture. India
Overseas Foreign exchange reserves shoot up MUMBAI: The foreign exchange reserves have gone up by $ 1.16 billion in the four weeks ending April 26 to touch $ 55,316 million. The inflow continues, according to an RBI weekly statement. India
Overseas Apollo Tyres to invest Rs 1.1 billion in new plant NEW DELHI: The city-based Apollo Tyres Ltd, the country's second-largest tyre maker, is all set to invest 1.1 billion rupees in a new plant to make radial truck and bus tyres. In a statement issued here on Thursday, the firm said the plant, to be set up next to its existing facility at Baroda, Gujarat, would use technology from its German collaborators, Continental AG. Apollo, along with subsidiary Premier Tyres, has two other plants - one in Pune, Maharashtra, and the other in Kerala. Both the plants make tubes. -ANI Previous File Current File Go To Top
|
Business Files
|