COSTLY BORROWINGS PUT CELLULAR INDUSTRY IN A SPOT

Article Abstract:

Cellular operators are likely to be affected if the borrowing costs of overseas funds increases by even 200 basis points due to the impending US sanctions. Out of the 43 cellular operators, only two have settled their debts. The cellular industry is facing a cash crunch. BPL-US West and Tata-Bell Canada are dependent on borrowings from US market. The six basic service licence holders, who are yet to settle their debts will find it difficult to avail of non-recourse loans from international banks. Several cellular operators have invested Rs10,000 crore as initial project cost. Nearly 40 percent of investment is from the US. (rk)

Comment:

India: Cellular operators are likely to be affected if borrowing costs of funds rises by even 200 basis pts due to US sanctions

Market information - general, Cellular Mobile Radio Services, Cellular and Other Wireless Telecommunications, Cellular telephone services, Article

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SAIL HEADS FOR DEBT TRAP AS BORROWINGS TOUCH Rs20,000 CRORE

Article Abstract:

The outstanding borrowings of Steel Authority of India Ltd (SAIL), India's biggest steel producer, has reached Rs20,000 crore. Currently, SAIL has a debt equity ratio of 5:1 and owes Rs35,000 crore to financial institutions and others . It has unsecured credit of Rs11,010 crore and Rs8,900 crore secured credit. Of the total borrowings. Rs11,000 crore is due to financial institutions and Rs4,000 crore to banks. The SAIL is paying over Rs200 crore interest per month. (ag)

Financial management, Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Steel Authority of India Ltd.

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GOVT'S MARKET BORROWINGS SHOOT UP TO 53.1%

Article Abstract:

The Indian Government's net market borrowing has touched 53.1 percent in 1998-99 (49.2 percent in 1997-98). The government is becoming increasingly dependent on net market borrowing to fund its fiscal deficit as the aggregate internal liabilities of the government is expected to cross Rs810,911 crore in 1998-99. (uh)(vr)

Legislative Bodies, Government revenues, Government Affairs

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