Friday, August 7, 1998
Raju quizzed on Vishnu Cements stake transfer
The Securities and Exchange Board of India (Sebi) on Thursday questioned former Raasi Cement promoter BV Raju and Lazard CreditCapital chief Udayan Bose on Thursday regarding the alleged improprieties involved in the delinking of Shri Vishnu Cements from Raasi.
Divestment of non-core businesses to fetch Voltas around Rs 215 crore
Voltas Ltd, the cash-strapped Tata group company, will rake in Rs 160 crore from the transfer of its white goods division to the proposed joint venture with AB Electrolux. Company sources said that close to another Rs 55 crore is to flow into its coffers from the sale of the agrichemicals division to group company Rallis India.
L&T looks at long-term gains in cement business
Larsen & Toubro views itself as a long-term player in cement and is not in the business for mere short-term gains, the company's director SS Marathe announced at the company's 53rd annual general meeting in Mumbai on Thursday. This was in response to shareholders' queries on the need for increasing capacity in cement.
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