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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (6504)	9/8/1999 11:28:00 AM
From: ratan lal	Read Replies (1) \| Respond to of 12475

'I'll close my eyes and vote for Congress'-Citizen Aarif Ahmed Good. Then you will get what u deserve "a closed eye govt."

To: Mohan Marette who wrote (6504)	9/8/1999 11:35:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Escorts Yamaha to offer 25% to Foreign Institutional Investors. Date: 9/8/99 10:08:32 AM (EquityMaster) Mr. Rajan Nanda, Chairman and managing director said that the company would make as preferential allotment to Foreign Institutional Investors (FIIs) which will expand its equity base to Rs360mn. Shareholding of Escorts and its Japanese collaborator Yamaha in the company will come down to 37.5% each. Net profit for the first half ending September 1999 is expected to rise by 68% to Rs900mn. Escorts will reduce its working capital requirement during the current year by Rs1.75bn and in the retire debt worth Rs2bn. Escorts has improved its market share for tractors to 20.60%. Escorts is also planning to divest 25% in Escorts Construction and Escorts Hospital & Research Center. Mr. Nanda also indicated that Escorts Communications would be wound up since the performance has not been up to the mark.