ICRA's ANALYSIS OF THE UNION BUDGET: PETROCHEM REACTS POSITIVELY

Article Abstract:

The Investment Information & Credit Rating Agency, which has analysed the impact of the Union Budget for 1999-2000 on the petrochemical sector, says that excise duties for basic petrochemicals has been reduced from 10 percent to 8 percent. The domestic petrochemical industries will get a significant amount of protection as customs duties on basic petrochemicals, polymers and downstream petrochemicals have been increased in the range of 6.5 percent to 13.5 percent. The prices of most of the products are expected to increase as petrochemical products are priced on the basis of landed costs. (khr)

Comment:

The Investment Information & Credit Rating Agency, which has analysed the impact of the Union Budget for 1999-2000 on the petrochemical sector, says that excise duties for basic petrochemicals has been reduced from 10 percent to 8 percent.

Market information - general, Forecasts, trends, outlooks, Petrochemical Manufacturing, Cyclic crudes and intermediates, Petrochemicals

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TVS GROUP MULLS CREEPING ACQUISITION TO UP STAKE IN WIL

Article Abstract:

The TVS group is planning to use the 5-percent creeping acquisition route to raise its stake in Wheels India Ltd (WIL) if its open offer does not get a good response from public shareholders. The TVS group now holds a 45 percent stake in WIL while Titan Europe has acquired the 35.91 percent stake of BTR Plc in WIL. Both Titan and Sundaram Finance of the TVS group will come out with open offers on March 3, 1999 to acquire the 18.58 percent public holding in WIL. (khr)

Acquisitions & mergers, Capital expenditures, Freight Transportation, India, Freight transportation industry, Wheels India Ltd., TVS

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