Lafarge to buy Raymond unit -- Rs 785-cr all-cash deal cemented
LAFARGE, the French cement major, on Friday entered into an agreement with Raymond Ltd to acquire its cement division in eastern India for Rs. 785 crores in an all-cash deal.

IDBI net profit down 25 pc
IDBI has reported a 25 per cent drop in net profit for the year ended March 31, 2000 at Rs. 947 crores as against Rs. 1,259 crores in the year-ago. The board of directors, which met here today, decided to maintain the dividend at last year's level of Rs. 4.50 per share (45 per cent).

Top-level changes at Otis Elevator
OTIS Elevator Company (India) Ltd today announced changes in top-level management.

Board clears IOC foray into LNG shipping with Gesco
THE board of Indian Oil Corporation (IOC) has cleared a proposal for the company's foray into LNG shipping through a joint venture with Great Eastern Shipping Co (Gesco), preparing the navaratna oil company as a domestic suitor for any of the nine foreig n bidders which have pre-qualified for the LNG transportation deal for Petronet LNG Ltd.

Grasim net up 42 pc at Rs 233 cr
GRASIM Industries Ltd has reported a 42 per cent increase in net profit at Rs. 233 crores for the year ended March 31, compared to Rs. 164 crores last year.

MTNL profit up 31 pc
increase in net profit at Rs. 1,694 crores for the fiscal ending March 31, 2000 against Rs. 1,297.24 crores last year.

`Talks on to allow RBI monitor FIs'
FINANCIAL institutions do not have a regulator or supervisor like the RBI for banks. Some FIs are Government-owned, some fall under the Companies Act while others are board-managed, making it difficult for the RBI to supervise this area.

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