M&M sees its silver lining; India tractor maker tagged good 'monsoon play.' (Mahindra & Mahindra)
Article Abstract:
The monsoon rains in 1996 which are expected to increase crop output and falling interest rates are seen to push up sales for Mahindra & Mahindra, the leading utility vehicle and tractor maker in India. Analysts believe these twin factors, coupled with the company's efforts to expand productivity, should bolster profit margins. However, a recent joint venture with Ford Motor Co. may require enormous investments which may not post returns until a number of years. Market observers continue to regard it as a good stock, citing its hefty 53% share of the utility-vehicle market and its 27% share of the tractor market.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
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End of Lufthansa venture raises hackles in India
Article Abstract:
Deutsche Lufthansa AG has withdrawn from Modiluft, a domestic airline it co-founded in 1993 with Indian entrepreneur S.K. Modi. The decision was prompted by the failure of Modi to pay Lufthansa for aircraft leases and other services it had performed for Modiluft since 1995, causing the German airliner to incur millions of German marks in losses. For his part, Modi said that he had already paid his dues with the airline, adding that Modiluft would continue operations despite the Lufthansa withdrawal.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
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ITC's new chairman faces tough task of mending ties with British shareholder
Article Abstract:
One of the first challenges facing new ITC Chmn. Yogesh Chander Deveshwar is how to repair the company's strained relations with UK-based B.A.T. PLC, the company's biggest shareholder. Deveshwar's predecessor, Kishan Lal Chugh, had engaged in a bitter dispute with the British firm over its efforts to increase its stake in ITC. Deveshwar has taken a conciliatory stance towards B.A.T. and many believe that he will succeed in this task.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
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